Tuesday, June 10, 2008
So the housing ladder is now a snake and oil really is black gold, far too expensive just to stick in your car. Both of these may be reversed, but, if not, they will both be benign developments. A long term fall in house prices will cure the British of their unimaginative obsession with property and kill off all those neurotic TV shows about house makeovers. A long term rise in the oil price will force the application of new energy technologies - good for the planet and good for global politics. On the way, however, the pain will be excruciating and the politics distinctly tricky. Nobody seems to be thinking clearly about this, perhaps because it is assumed we are simply in the midst of a market convulsion that will pass or perhaps because, if it doesn't, nobody can imagine the politics of the future. Either way, there is a deathly hush about these matters. The future, having been the big cause of the Clintons and the Blairs, has become electorally toxic.
Posted by Bryan Appleyard at 5:04 am