http://www.thegodsthatfailed.co.uk How Blind Faith in Markets Has Cost Us Our Future! Thu, 11 Dec 2008 09:41:12 +0000 http://backend.userland.com/rss092 en The latest development in the rapidly deteriorating housing market is the news that many homeowners now have mortgages that are worth more than the value of their homes. These owners, granted 90 to 100% mortgages at a time when bankers were more than happy to give away cheap money, ... http://www.thegodsthatfailed.co.uk/?p=80 The Gods that Failed shows how a reckless, largely unaccountable elite, have lulled the world to sleep with their economic fairytale and that now, with the fairytale having being exposed, ordinary people are waking up in a world of financial hardship. Even though this elite subcontracted the job of reading ... http://www.thegodsthatfailed.co.uk/?p=79 Despite the falling house prices, there are fewer first-time buyers than ever before. Thanks to increasing mortgage rates and unstable house prices, this year could see the lowest number of first-time buyers on record, creating a knock-on effect damaging the entire housing market. Read about it here. http://www.thegodsthatfailed.co.uk/?p=78 Citing a recent report from the Commission on Growth and Development, and a new book by Oxfam's head of research Duncan Green, Larry argues in today's Guardian that the key to development and prosperity is an effective state, accountable to its people, which seeks to address inequality. If the ethical ... http://www.thegodsthatfailed.co.uk/?p=76 Things are looking bleak, so why are we spending like there's no tomorrow? Incredibly, despite the credit crunch, May saw the biggest increase in consumer sales on record. Confused? Read Larry's article about it here. http://www.thegodsthatfailed.co.uk/?p=72 Blind faith in markets has not only cost us our future - it could also cost us our heirlooms. The credit crunch has meant that pawn shops are enjoying a new-found degree of popularity. If you're feeling the pinch, take a leaf out of a Dickens' novel and check out your local ... http://www.thegodsthatfailed.co.uk/?p=73 The brave new world of the New Olympians - the ideas and actors behind the current financial chaos - has now been exposed, but in London the Olympic dream is also crumbling fast. Plans to build the Olympic village for 2012 are now in jeopardy as the credit crunch and sliding housing ... http://www.thegodsthatfailed.co.uk/?p=74 ‘Incomes have gone backwards in few years since the war, including 1974, 1977 and 1981. This looks like being another.’ Read the full story <a href="http://www.thisismoney.co.uk/news/columnists/article.html?in_article_id=443449&amp;in_page_id=19&amp;in_author_id=1906">here</a>. http://www.thegodsthatfailed.co.uk/?p=81 One of the themes of The Gods that Failed is that the disastrous consequences of the actions of a reckless, largely unaccountable elite are being felt by ordinary people and everyday life. Today the Independent ran an article demonstrating that the chain reaction does not end with people, parents and ... http://www.thegodsthatfailed.co.uk/?p=70 We’ve all heard horror stories about first-time buyers being outbid – ‘gazumped’ – at the last minute by someone with a higher offer, but now housebuilders are suffering the same treatment from buyers: read Dan’s article about ‘gazundering’ here. http://www.thegodsthatfailed.co.uk/?p=69