Jan 12, 2007

over-lending in Scotland

The Bank of England is playing the wolf-at-the-door role in Scotland with a surprise interest rate increase-the 3rd in 6 months--due to the Bank's (supposed) nervousness at homeowners falling behind in payments.

The Scotsman has it here: Interest rate blow to homeowners-and worse may be to come.

Is this counter-intuitive? Raising rates will increase home repossessions...oh wait...I get it...that's what they want. The wolf is not only at the door, he's having a cuppa by the fireside and twirling his greedy moustache...as per his plan all along. Homeless suckers.

And the common good has fallen prey to globalism again.


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