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I suspect it is the usual debt phobia at work, The economy is "damaged" because too much of it is sustained by debt and houses, per se, are not considered to increase productive capacity - beyond the once off and temporary increase required to actually build them. No mention of multiplier effects or the importance of having people actually live where the jobs are. One of the articles of faith of mainstream "serious" discussion of the economy in the UK appears to be: "Debt is too high" together with "The EU is damaging Britain" and its all the fault of the Unions/Government Red tape/high taxes - take your pick.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Aug 6th, 2013 at 11:16:06 AM EST

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