Summary
(Except that, for the poorest, it mainly takes.) The problem with recessions is not that they relieve the rich of their four-wheel drives or that they oblige many of us to be less profligate, nor even that the middle-aged and middle-class can no longer use the equity in overblown house values as collateral for rash borrowing and careless spending.
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Extract
Is Labour On the Side of the Voters or the Bankers?
House prices are dropping, unemployment is rising, home repossessions are on the increase, interest rates are the highest since 2001, businesses are squealing and sales of 4x4s are down. Trade unions are being as...
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