
CraNoCopying Failed Old Tory Ideas

Property is down 10%, falling at 1% a month, it could easily be down another 10% next year - why catch a falling knife? The graph below (viaStumbling and Mumbling) shows the negligible effect of the Lamont Stamp Duty holiday.
The left-of-centre Chris Dillow has a surprisingly laissez faire conclusion - let prices fall. The market will find equilibrium.

"I will not allow house prices to get out of control and put at risk the sustainability of the recovery."Gordon Brown, 1997 Budget Statement.
Unfortunately Gordon has to do something, he promised an end to the economic cycle, he promised endless growth, low unemployment, low inflation and a new Britain.
The economic cycle is back, the benevolent economic circumstances not of his making have gone and we are, according to the OECD, the worst positioned Western industrialised nation to weather the tough times.Inflation is rising and unemployment is hitting Thatcherite levels, your economic plans have crashed, Gordon.
