Comments by "" (@lonevoice) on "The UK’s housing costs are sucking life out of our economy" video.

Yes, wealth inequality in the UK is the most fundamental economic problem facing the UK.This is widely recognised yet Reeves is doing nothing about it.
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@physiocrat7143 I don't know where you get that from. Murphy, like many others in the UK, including myself, want to see a properly functioning economy. We will not get that until this major problem is solved.
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@physiocrat7143 I don't follow why that is a prerequisite. Would that be then be some sort of progressive tax and would it deal with our rising wealth inequality?
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@physiocrat7143 Land value taxes are almost certainly better than what we have at present, but they are a subset of current problems. I still don't see why you say they are a prerequisite and I still don't see how this would solve the massive wealth inequality problem that exists.
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@physiocrat7143 Back to basics: The problem with the wealthy is that they are unable to spend enough. Each year they always have a surplus that they are unable to spend and so they buy assets such as property, shares etc with the surplus. With the increasing number of wealthy there is more competition to buy assets and that in turn pushes up asset prices. More importantly, this leads to increasing amounts being transferred out of the active economy of jobs, business and services into asset prices and as a result, the active economy suffers. We are now in a position where this is acting as a drain on the active economy, it will not stop and is damaging. Any chances of growth then become much harder.
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@physiocrat7143 Back to basics. The problem with the wealthy is that they are unable to spend enough. They always have a surplus that they invest in asset purchases such as property, shares etc. That in turn, through increased competition, pushes up prices. Furthermore, with increasing amounts being used to purchase assets, increasing amounts are being withdrawn from the active economy of jobs, business, services. Overtime with the increases in wealth inequality that we have, there is an increasing drain on the active economy as increasing amounts go into asset purchases. This is damaging to the economy and holds back growth.
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@physiocrat7143 Back to basics. The problem with the wealthy is that they are unable to spend enough. They always have a surplus that they invest in asset purchases such as property, shares etc. That in turn, through increased competition, pushes up prices. Furthermore, with increasing amounts being used to purchase assets, increasing amounts are being withdrawn from the active economy of jobs, business, services. Overtime with the increases in wealth inequality that we have, there is an increasing drain on the active economy as increasing amounts go into asset purchases. This is damaging to the economy and holds back growth.
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@physiocrat7143 I replied to this four times yesterday but none appear.
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@physiocrat7143 This is my fifth attempt at replying. Others have disappeared. The problem with the wealthy is that they are unable to spend enough. They always have a surplus that they invest in asset purchases such as property, shares etc. That in turn, through increased competition, pushes up prices. Furthermore, with increasing amounts being used to purchase assets, increasing amounts are being withdrawn from the active economy of jobs, business, services. Overtime with the increases in wealth inequality that we have, there is an increasing drain on the active economy as increasing amounts go into asset purchases. This is damaging to the economy and holds back growth.
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This is a test. I replied four times yesterday to a comment but none have appeared.
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My reply to physiocrat7143 in my earlier posting was as below. Back to basics. The problem with the wealthy is that they are unable to spend enough. They always have a surplus that they invest in asset purchases such as property, shares etc. That in turn, through increased competition, pushes up prices. Furthermore, with increasing amounts being used to purchase assets, increasing amounts are being withdrawn from the active economy of jobs, business, services. Overtime with the increases in wealth inequality that we have, there is an increasing drain on the active economy as increasing amounts go into asset purchases. This is damaging to the economy and holds back growth.
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