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Credit deflation and the reflation cycle to come (part 7)
King Penda replied to spunko's topic in Property Prices & Economy
I’m actually enjoying it all . Ok I know I’m a twisted fucked up twat .I enjoy the missery and the gnashing of teeth -
Credit deflation and the reflation cycle to come (part 7)
JMD replied to spunko's topic in Property Prices & Economy
Yes only 5 years ago that psycho(?) MP David Lammy was calling Farage 'a pound shop Oswald Mosely'. Actually Russel Brand had said similar only a few years earlier, but instead had called Farage 'a pound shop Enoch Powell' - which I think is a good example of Nazi-inflation! And where today all right-wing opinion is automatically far-right/Nazi. I don't know Brand's opinion of Farage today. Btw I mean that about David Lammy (Dianne Abbot in drag i think; you never see them together!). His previous inflammatory(!) conspiracy ideas about Grenfell deaths being much higher than the official numbers, and his general wacky Windrush reparation wokeiness, etc, mean that if Labour get in i really fear - the so-called sensible - senior Labour leadership like him. -
Credit deflation and the reflation cycle to come (part 7)
BWW replied to spunko's topic in Property Prices & Economy
Just as likely sheds in beds. Blocks of garages are grand design sites etc. In a way Id be happy with no cars at all in London. I rarely drive mine when here anyway but parking on edge of London for when I head to the country is not cheap or easy either. Maybe I should embrace the train. Dog tends to get upset tummy when we visit London, has anyone seen someone use newspaper and a clean up bag for a dog stuck on a train. May create space for the journey .... -
Credit deflation and the reflation cycle to come (part 7)
Loki replied to spunko's topic in Property Prices & Economy
We haven't even had the official confirmation of the glorious peoples equality and climate revolution yet. Looooooong way to go before a recovery -
Credit deflation and the reflation cycle to come (part 7)
Errol replied to spunko's topic in Property Prices & Economy
It took Putin the best part of 15+ years to rebuild Russia after the collapse of the USSR and neglect by Yeltsin etc. -
Credit deflation and the reflation cycle to come (part 7)
BWW replied to spunko's topic in Property Prices & Economy
The logical response for individual with capital is offfshore assets and hide them. Equivalent to "refusing to work", most of the tax system outside paye relies on self reporting. You could reply tothat with observayion that tax authorities now get data from most foreign banks. They do but have way too little competent capacity to use that data. Desirable to do something out of sight but consider the masses of small scale btl who just have not reported rental income for decades now. They have that data too but was lower hanging fruit to tax rent used to cover mortgage interest to be paid only by the honest so they did that. Suspect my personal solution will be emigrate again. (Currently) Legal way. -
Credit deflation and the reflation cycle to come (part 7)
Noallegiance replied to spunko's topic in Property Prices & Economy
How and how fast did the Soviet Union get to prosperity after the 1980s? We need to take some plays out of that handbook. But unfortunately it needs to get way more painful first. -
Credit deflation and the reflation cycle to come (part 7)
King Penda replied to spunko's topic in Property Prices & Economy
Was having a debate at work with a woman who claims in spite of her and her husband working (low paid) they have little cash left .she actually thought I was doing lots (was) of hours just in order to survive . I’m like no she insisted if things kept going up I’d be fucked sooner or later I’m like your going to be fucked yourselves way before that happens. She is ok pretend you’ve bought a bigger house and have no cash in the bank and your working just 37 hours a week on minimum wage forget that daft idea of lodgers or fostering for extra cash your has fucked has we are . I’m like not realy you’re renting so that’s an advantage to me . Granted she said but I’ve got a majour advantage you don’t have she says what I’m like I’m single I could still double my income by getting a working girlfriend and letting her move in She was fuck you’ve got an answer for everything . -
Credit deflation and the reflation cycle to come (part 7)
Axeman123 replied to spunko's topic in Property Prices & Economy
Only a matter of time before they tax off road parking too. Perhaps it will be justified as maintaining dipped curbs and pavement damage when you cross it, or mitigating the impact they have vulnerable pavement users. -
Credit deflation and the reflation cycle to come (part 7)
Yadda yadda yadda replied to spunko's topic in Property Prices & Economy
I expect houses with front gardens are being converted to driveways at a record rate. Direction of travel... Nice pun. -
Credit deflation and the reflation cycle to come (part 7)
Axeman123 replied to spunko's topic in Property Prices & Economy
I am increasingly thinking of the UK as a slowly sinking ship, it is a salvage operation now and soon it will be every man for himself. -
Credit deflation and the reflation cycle to come (part 7)
NogintheNog replied to spunko's topic in Property Prices & Economy
Agree, but I'm being realistic about what our fcuking useless polos are able to achieve! -
Credit deflation and the reflation cycle to come (part 7)
BWW replied to spunko's topic in Property Prices & Economy
street parking permit in islington for my car is up another 30% from jan. Think it was 120/yr 7 years ago. 450 in jan. they are proudly trumpetting car ownership down 2% or so. I would love to buy an off road freehold space somewhere. There've been a couple of places I could have bought a house, kept the garage or part of garden and sold the house again . Bit drastic and risky but given direction of travel .... -
Credit deflation and the reflation cycle to come (part 7)
NogintheNog replied to spunko's topic in Property Prices & Economy
It's a good point. However I know that if this person was told that they needed to liquidate their property to live off the proceeds, they'd go back to work!! I agree though that many benefit claimants are not in that place, but changing the benefit sytem is required maybe as per the German model..... -
Credit deflation and the reflation cycle to come (part 7)
Calcutta replied to spunko's topic in Property Prices & Economy
Britain is fucked, I think that's beyond any doubt now. It's just a matter of timing. Personally what is bothering me is do we get demand destruction, a global slowdown and decent ladders into foreign stocks before Sterling has to be rebalanced? In terms of taxes and rents and expenses then sure, were about to get raped whilst we're stuck on this island. But if we manage to get all our savings and investments into the major US mining and oil companies in sell off, watch cable go to parity and then the rest of the world recover, from hem were golden. -
Credit deflation and the reflation cycle to come (part 7)
Axeman123 replied to spunko's topic in Property Prices & Economy
There would be at least 5 million more voters by then, there isn't time for that! Those are the policies that should have been on the ballot in ~2020, with Brexit having been fully implemented without delay early in the previous parliament. -
Credit deflation and the reflation cycle to come (part 7)
Yadda yadda yadda replied to spunko's topic in Property Prices & Economy
Increase public spending > inflation goes up > increase taxes > private sector shrinks > public spending increases It is a plughole of shit until the entire economy has drained away. -
Credit deflation and the reflation cycle to come (part 7)
BWW replied to spunko's topic in Property Prices & Economy
Making them sell it is politically unacceptable and presents practical problem of needing to house snother one. Taking a charge on the house and requiring all bennies to be repaid with interest as well as costs of admin of charge and loan would work just as well. Problem is a majority of the career bennie lot dont own a house. Requiring they contribute by picking litter,building and cleaning public bogs, etc etc for equivalent hours on min wage on basis of no show or no effort and no dosh would work for them. Shame the costly deterrent measures are only considered good for boat arrivals and not the bennie lot. Not least because the deterrent wont work to stop boat arrivals anyway. -
wow now that is totally fekkin amazing and an interesting reminder that actually some parts of the west are actually 'totally fekkin amazin' lol do you think you could live there for say 6 months of the year without having to 'register for the mad US system'??? edit: interesting location, didn't realise Virginia went so far inland.....and got Kentucky and Tennessee close by.......might have problems with some of those dudes like off Deliverance
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Credit deflation and the reflation cycle to come (part 7)
NogintheNog replied to spunko's topic in Property Prices & Economy
Here's what I'd vote for; Net migration phased in over the next parliament to 1 in 1 out at end of term, and thereafter. All benefits including the state pension capped to no increases for each parliamentary term, then only increased depending on the 'state of the nation'. JSA and UC scapped, and the German system copied from the start of the parliament term. All state pensions moved to NEST State subsidies for Net Zero energy levelled up with any subsidies or taxes paid by the fossil fuel industry based on energy output (KWhr) and availability of supply. Ukraine military spending stopped, we need to defend this country, not someone else's. Tax allowance re aligned to inflation to encourage work. Unfortunately I don't see any of that happening..... -
Credit deflation and the reflation cycle to come (part 7)
Axeman123 replied to spunko's topic in Property Prices & Economy
In MMT taxes are used in place of interest rates to fight inflation. Taking that to its extreme they would want it pissed away, literally the exact inversion of Keynes' idea of paying people to dig holes and then fill them in again to stimulate the economy. ZIRP has rotted the political class' collective brains too, when unlimited money is available there will always be an endless line of "worthy" projects and persausive vested interests. Our politicians seem to have lost the ability to say "No" or prioritise. -
Credit deflation and the reflation cycle to come (part 7)
DurhamBorn replied to spunko's topic in Property Prices & Economy
I would say things are collapsing already,but the process might take several years to work through.Public services are already collapsing,massive cost but its going on pensions and rubbish,not service.Other services slowly being removed based on costs.I suspect car ownership will start falling,or flatline with a growing population.Tax thresholds frozen are a clear indication of collapse,the state cannot function without massive increases in tax etc.The liberal elite project is running into an Emerging world who dont want it and the end will be violent thats for certain. The obvious conclusion from the roadmap as we said two years ago is more from less,thats the key message.Things that can be shared better will be. - Today
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Credit deflation and the reflation cycle to come (part 7)
Heart's Ease replied to spunko's topic in Property Prices & Economy
Listening to a Rosanne Barr podcast yesterday and her son Jake was making the point that the difference between capitalism and communism is that under capitalism a middle class is tolerated. Such a simple statement. Probably first heard it during A levels. (Also learnt the phrase 'paradigm shift'). And yet it was like I was hearing it for the first time. Now I understand what the eradication of the middle class can look like and realise that yes, we're hurtling towards technocommunism aka the Fourth Industrial Revolution and it's all by design. -
Credit deflation and the reflation cycle to come (part 7)
NogintheNog replied to spunko's topic in Property Prices & Economy
Okay, I hate to admit it but I know someone who is playing the system and they encapsulate everything that is wrong with the UK! They are on UC, since coming off JSA after loosing a job in 2019. Then claiming 'mental health' issues to get onto UC just before Covid. There has been no contact from the DHSS since then, just monthly payments of about £730 a month plus CPI rises and heating benefits. They have said to me they can't be bothered to go to work to take home maybe £1200 a month for 35 hours work. In some ways I get where they are coming from, but of course to my mind they should not be getting that £730 each month! THEY OWN THEIR OWN PROPERTY. And there's the crunch! If they lived in Germany they would have to sell that property before getting UC! https://www.iamexpat.de/expat-info/social-security/unemployment-benefits-germany-arbeitslosengeld Citizens’ allowance (Bürgergeld) If your eligibility for unemployment benefit expires, you are not eligible to receive it in the first place, or if you cannot ensure your subsistence adequately from all your income or assets, you can apply for Germany’s basic subsistence benefit, known as the citizens’ allowance (Bürgergeld). This benefit is also sometimes given as an income supplement for low-earners. Unlike unemployment benefits, which are financed directly from unemployment insurance contributions, the citizens’ allowance (also known as basic security for jobseekers) is financed via the taxpayer. It is designed to secure a basic subsistence level for recipients and is made up of two components: A standard payment A payment for accommodation and heating costs If you are not capable of earning (e.g. due to illness or incapacity) but live in a joint household with someone who is entitled to Bürgergeld, you can still receive the benefit. You must also be demonstrably “in need” to receive Bürgergeld. This means that you should use up your own income and marketable assets before applying for support. This includes: Cash Savings, savings bonds, securities Items like vehicles or jewellery Endowment insurance Real estate Citizens’ allowance requirements You are considered entitled to receive the citizens' allowance (Bürgergeld) if you meet the following conditions: You are aged between 15 and the statutory retirement age. You are able to work at least three hours a day under “normal conditions”. You are unable to meet your own necessary living expenses or those of members in your household, either by working or with help from others. You are an EU, EEA or Swiss citizen, or you hold a valid settlement permit or residence permit that entitles you to work in Germany. Not here!!! Also their unemployment benefit is taxed, just like a wage!! FFS! How much unemployment benefit (Arbeitslosengeld) will I get? The amount of benefit you receive is calculated based on your average net pay in the 12 months before you became unemployed (known as the “assessment period”), up to the maximum contribution ceiling of 7.300 euros in western Germany and 7.100 euros in eastern Germany. Savings and other assets are not usually taken into account when calculating your benefit, but other income might be. This amount is divided by 365 to give a so-called “assessment benefit” (Bemessungsentgelt), from which 20 percent is deducted for taxes and social security contributions, just like a regular wage. This includes deductions for: Statutory health insurance (7,3 - 8,2%) Pension insurance (9,35%) Unemployment insurance (1,2%) Long-term care insurance (1,525%) Income tax UK is fcuked! -
Credit deflation and the reflation cycle to come (part 7)
THE SOUP DRAGON replied to spunko's topic in Property Prices & Economy
I believe somebody set up a countdown clock based on DB's roadmap predictions. I think we're fast approaching it Feb 2024 if my memory serves me right,