Classical Liberal
Primacy of Individual Freedom

Monday, 21 November 2011

Corporate Capitalism at it's most corrupt

The governments housebuilding initiative announced on November 20,2011 can only be seen as deeply flawed in every way, economically, democratically and logically.

This government is in cahoots with the building industry, it is forcing the taxpayer to underwrite big corporations, (at the corporations behest through their agent the CBI ), by guaranteeing losses on mortgages of individuals on all new builds. This new measure will not apply to an older house you may well prefer to a new build, so making it easier for the housebuilder to maximise his margin.

This is blatant corruption at it's very worst, how many of these companies are paying lobbyists and making  contributions to the conservative party?

Shapps, the Housing Minister, as good as admitted on BBC Newsnight that house prices are too high, why then would you encourage people to take out 95% mortgages when you consider the current prices do not represent good value?

The answer to this question is the Government is still protecting the Banking and Property industries with our money. QE has enabled interest rates to be kept at 0.5%, so keeping property prices from dropping, and enabling Banks and property companies to avoid making massive write downs on their balance sheets.

This is corporate/crony capitalism at its very worst and Cameron & Clegg and their respective parties should be deeply ashamed, it is not the size of the risk they are taking with our money, but the complete lack of principle and willingness to join in such blatant corrupt practises with the corporate World.

It is not surprising that we have increasing numbers of demonstrations from those who do not understand the difference between capitalism and this disgraceful corporate capitalism of which all 3 parties are guilty.

It is time to call a halt to this usurping of our democracy and the favouring of certain sections of our society for political and financial gain, we voted for democracy not daylight robbery.