chefdave
Activist
Posts:482
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| 27/07/2008 2:46 AM |
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Wow, the difference between then now is the sense of reality, with home-owners talking like a £10,000 loss as a lot of money, these days it would barely buy you a car parking space outside a luxury development in Leeds. People were correctly talking about their mortgage in terms of how much they owe, rather than how much their property is worth, we havn't reached that stage by a long margin so far, the reality of this gargantuan debt hasn't yet sunk in, despite house prices dropping at a much faster rate when compared to the 1990's.
Also interesting was the reaction of Lawson when compared to the likes of Brown today. Lawson didn't care, to him it was an issue of personal responsibility and nothing to do with the government. A far cry from the socialisation of the problem we see today, athough, I'm in no doubt that the current opposition party would have followed a broadly similar path set out by New Labour and so won't fall into the trap of Conservative nostalgia :)
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