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Quote by Nigel Farage

“The European Union's finished. It doesn't work. You know, we just had the honor in Britain of being the first country that rejected membership. You know, you could be next. It could be Denmark next. It could be Dexit.”

Author

Nigel Farage

British politician born on April 3, 1964, known for his outspokenness in politics and his key role in the Brexit movement. more

“The internet makes information easier to come by, but harder to control - think of the success of blogs like ConservativeHome and Guido Fawkes. I definitely think Parliament's website can be improved - perhaps it could have better access to video feed, include interactive features or have discussion forums.”

Thinking Information Internet Easier Harder Access Video Discussion Features Parliament Blogs Website Forums Interactive Guidos Fawkes

Author:Theresa May

“These modern means of communication are one reason why I recently opposed the Government's decision to grant MPs a new communications allowance. With new technology giving us the opportunity to communicate directly with voters very cheaply, why did Labour MPs vote for a £10,000 allowance to tell voters what a good job they do?”

“For many people, the mortgages they took out before 2008 are so high that they would be better off walking away from their houses. That is called "jingle mail," returning the keys to the bank and saying, "You can have the house. I can buy the house next door that's just like this for 20% less, so I'm going to save money and switch." That's what someone like Donald Trump or a real estate investor would do. But the banks are trying to convince the mortgage debtors, the homeowners, not to act in their own self-interest.”

“The myth is that if housing prices go up, Americans will be richer. What banks - and behind them, the Federal Reserve - really want is for new buyers to be able to borrow enough money to buy the houses from mortgage defaulters, and thus save the banks from suffering from more mortgage defaults.”

Ifs Want Enough Able Suffering House Behinds Myth Reserves Housing Mortgage Default Federal Reserve Buyers

Author:Michael Hudson

“Actually, high housing prices don't help the economy. They raise the cost of living.”

Helping Economy Cost Raises Housing Cost Of Living

Author:Michael Hudson

“Everybody would be better off if they could buy housing for only, let's say, a carrying charge of one-quarter of their income. That used to be the case 50 years ago. Buyers had to save up and make a higher down payment, giving them more equity - perhaps 25 or 30 percent. But today, banks are creating enough credit to bid up housing prices again.”

Ifs Giving Years Enough Would Be Today Used Cases Higher Creating Percent Years Ago Credit Income Used To Be Quarters Better Off Equity Housing Payment Buyers

Author:Michael Hudson

“The aim of promoting low down payments is to push prices back up so that fewer houses are going to be in negative equity and fewer people are going to walk away from the mortgages. That will save the from taking a loss on their junk mortgage loans.”

People House Loss Walks Lows Negative Aim Fewer Equity Loan Promoting Payment Junk Mortgage

Author:Michael Hudson

“Now, suppose that a homeowner puts down only 3% of their own money or 3.5% for the FHA. That means if prices go down by only 3%, the house will be in negative equity and it would pay the homeowner just to walk away and say, "The house now is worth less than the mortgage I owe. I think I'm just going to move out and buy a cheaper house." So it's very risky when you have only a 3% or 3.5% equity for the loan. The bank really isn't left with much cushion as collateral.”

Ifs Thinking Mean Moving House Left Walks Pay Negative Equity Loan Mortgage Cheaper Cushions Collateral Homeowners

Author:Michael Hudson

“The real estate interests and banks are in a kind of symbiosis. They're the largest-growing part of the economy. This is the sector that backs the political campaigns of senators, presidents and congressmen, and they use this leverage to make sure that their people dominate the Federal Reserve, Treasury and the federal housing agencies.”

People Kind Real Use Political President Interest Economy Growing Campaigns Agency Reserves Senators Estates Housing Treasury Congressman Federal Reserve Political Campaign Symbiosis

Author:Michael Hudson

“When you say "bank," a bank is a building, a set of computers and chairs and things. The bankers are the people running these banks. They're the chief officers, and they push the loans because they don't care if they go bad. For one thing, they may package these bad loans and sell them off to gullible institutional investors.”

People Ifs May Care Running One Thing Building Computer Sells Don't Care Chiefs Chairs Officers Investors Loan Packages Bankers Gullible

Author:Michael Hudson

Quote by Nigel Farage

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