Except that what he's saying hits the nail on the head. All the rest is pointless speculation and bullshit.
I was talking about oversimplification of people's circumstances with regards their houses/mortgages etc. It takes a while to sell a house, you might not be able to find another that's suitable. It also costs a lot of money, and you may be in negative equity also which would mean selling would be a bad idea. If you lose your job, these things are all problems that you might face. And it would suck to have to face them, so that would be a bad thing. Hence people's concern.
As for the entire situation, oversimplifying it again is just a bit pointless. Might as well reduce everything to 'breathe in and out, eat, sleep'.
What do you think you are bringing to the conversation? This thread is now about political and economic ideology. That is to say, what the best way to increase net happiness for everyone. And yes, it's academic, because none of us is Brown, Darling, Cameron or Osborne. So what's your point, caller?