But in Disneyland it’s a ‘credit crunch’ (a blameless phenomena in no way meaning the markets should be regulated or investigated for fraud, ahem) or ‘slowdown’ not a recession, y’know like they weren’t reinforcements they were a ‘surge’. Anyways newspeak aside, forty fucking eight percent?
The number of properties repossessed by mortgage lenders in the UK has risen by 48% in the past year. The Council of Mortgage Lenders (CML) said there were 18,900 repossessions in the six months to June, up from 12,800 in the same period last year. The sharp rise was due to the economic slowdown making it harder for some homeowners to repay mortgages.
Caroline Flint, the housing minister, argued that people’s experiences now were nowhere near as bad as those in the last recession in the early 1990s. “In the 1990s the problems people faced were high unemployment and high interest rates,” she said. “We are making sure the right advice and support is available at the right time for the minority of borrowers who may need it at the moment because of global economic pressures,” she added.
Erm, maybe she didn’t quite hear that Home Repossessions Are Up Forty-Fucking-Eight Percent! Somehow that advice and support seems to be, hmm how do you say- totally fucking useless!
And no, people won’t face unemployment because the government are trying to destroy welfare, in the future there will just be ‘work‘ in the glorious corporate state. People previously thought of as ‘unemployed‘ (and the ‘sick‘) will work for below minimum wage doing jobs they quite possibly were fired from previously because a corporation bid a new ‘competitive‘ contract based on…below minimum wage pay. Sourcing labour from the jobless because they have a ‘training‘ contract with the Department of Work & Pensions who will treat the unwaged in the same fashion as convicted criminals and enforce, sorry ‘nudge‘, ‘community service‘ otherwise known as below minimum wage work. Are you beginning to understand the scam being pulled here?
PS. The co-author of the Nudge bullshit (and Obama advisor, oh yes) believes the Bush regime should not be prosecuted for war crimes, I guess the great and the good don’t need to be ‘nudged’ to behave. Again, are you beginning to understand the scam being pulled here?
PPS. And when were financial institutions warned of the consequences of their irrational greed, only EIGHT FUCKING YEARS AGO!