tag:blogger.com,1999:blog-6382255864661846735.post7173810352245658756..comments2024-02-24T08:45:36.112+00:00Comments on TheFatBigot Opines: Recession, a random thoughtTheFatBigothttp://www.blogger.com/profile/17255526385076528633noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6382255864661846735.post-69649442593770588832008-10-26T12:54:00.000+00:002008-10-26T12:54:00.000+00:00There will be many business casualties along the w...<I>There will be many business casualties along the way but it should help keep the recession short. What we will then need to worry about is whether the country's economy can expand through something other than a credit bubble.</I><BR/><BR/>Exactly, let's get it over with, especially the house price crash and we can all start again. Don't forget that 85% of all credit went into the property price bubble, only 15% went into the proverbial holidays and flat screen TVs.<BR/><BR/>I have a plan for keeping house prices low and stable, diverting credit into the productive economy and reducing taxes on income and production, it's called Land Value Tax, but the myth that home ownership is the automatic and rightful path to riches is too deeply engrained, I am afraid.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.com