meltdown

The world is a troubled place at present, in financial terms. Now I was telling people that there was going to be a problem with the housing market, and that the banks were behaving irresponsibly. So it annoys me when people say that no-one was complaining, because I've been moaning for years. Ok, so I was only talking to my family, but when I am here looking for a job it is frustrating that I can't get one when I am one of the few people who saw the problem coming. The problem is that everyone believes that it is the rich that matter, that society revolves around them. And they prove it by saying that when the rich are doing well society is doing well, and their evidence of how well society is doing is measured on how well the rich are doing. Bit of a circular argument there. Most politcial parties focus on the rich with a gesture towards the poorest as a token towards social justice. I believe that in fact the strength of our society comes from those people who are working at the lower end. This includes people on minimum wage right up to people who are earning enough to consider buying their own home. And first time buyers are key to our economy, and this is where it has all gone so wrong. House prices got too high, leading to irresponsible lending and this was made worse by making buy to let too attractive. People keep worrying about house prices coming down but actually this is what the economy needs, and in fact what we should be doing instead of trying to resist this fall, is actually make it happen faster. If prices dropped by 30% then this is the point where people would find they could afford to buy again. The whole economy would kick into gear. We would just need to stop the buy to let brigade. As I have said the rich don't make things tick, in fact they are the ones who through their greed make things go bust. Just check recent history and you will see that financial disasters were preceded by people getting rich quick. Look at the era of the fat cats in the 80's, and more recently all those people putting together their property portfolios. I will make a prediction now that there will turn out to be a lot of rich people who do very well out of the current crisis. And at our expense!