Ecarnomic collapse
Watching TV this morning I saw some disturbing news. New car sales in the UK fell by 36.7%. What are your thoughts about it? Perhaps the labour government should invest some money in the UK car industry?
Asked on 14 February 2009 by
Answered by
Honest John
What money? The government has already plunged every one of us £17,000 into debt by borrowing to rescue the banks. Many car sales over the past 10 years came from people feeling they had money due to the rise in value of their houses that they then borrowed on the basis of. We had a false economy based almost solely on excessively rising property prices. Now that has collapsed. Knowing there is now nothing much else, the government is trying to prop up property values. A rising, but controlled, property market might be the only way the World can get out of recession and stay out.
Tags:
legal issues
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