Trains of thought

So there's this b&w film starring Will Hay called "Oh Mr Porter" a cracking comedy. Anyway, early in the film he says Sic Transit Gloria, (latin meaning "Glory Passes"), and I am reminded of the full quote sic transit gloria mundi as in the glories of the world pass, which reminds me of the early Punk/Goth band Gloria Mundi (Eddie Maelov's band), one of whom I am sure played with Generation X, who strangely are missing from the canon of major punk bands, which is strange as they were well connected had an early punk hit with Ready, Steady Go.

So it goes.

Houses are too expensive

I am watching a programme on BBC about the credit crisis, not an inspiring piece of journalism more populist than insightful.

However what beggars belief is the representative of the Council for Mortgage Lenders suggesting that we need to get the housing market going again, and everything will be all right.

What! Have we all missed/forgotten the fact, yes fact, that this credit crunch is the result of the housing bubble, call it "sub prime mortgages" if you like, it's the same thing. Lending money to people who couldn't afford it based on the assumption that house prices will continue to rise at a faster rate than the economy is clearly not a long term strategy.

Sadly it is a strategy that successive UK governments have been pursuing since about 1979. This year we are all paying the price for all that excess.

Thatcherism/Reaganomics, call it what you will, I just hope it has died.