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Credit deflation and the reflation cycle to come (part 2)


spunko

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1 hour ago, planit said:

There is a proverb -

An oilies' share price can dig deeper and for longer than you can stay solvent!

 

For example, the government could make it illegal for pensions to own fossil fuel companies. Or for 80% of profits to be distributed to the public for 'damage caused'.

If you believe in one of the themes of this thread. Low prices mean you should be able to buy across the sector, choosing good dividend yields and reasonable balance sheeets.  If prices drop lower, then top up. Just keep a %cash in your account.

Pension funds are divesting from fossil fuels, one factor causing lower share prices. If it was illegal here or in the west, then China and Russia would declare a national holiday and celebrate by buying up the western oil/gas companies.

If 80% of profits were taken, the share prices would collapse and then Russia and China would...as above.

Meanwhile our societies, which are based on this cheap energy would collapse. It would be time to learn to speak Russian and Chinese for our new overlords.

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1 hour ago, sancho panza said:

On March 17 2020 Prof John Ioannidis wrote the following piece,effectievly arguing that the disaster was in the data they were using for the inital infection fatality rate

He bascially argued for a 0.3% IFR based on a rough estimate for the Diamond Princess cruise ship a long way from the 3.4% inital WHO IFR estimate.(and the one instrumental in bringing in lockdowns).Read the rest of the first piece and you'll see why he earned his pre eminence in his profession because a year and a bit later,he looks to have been pretty well on the money about a raft of things as well the IFR

The second paper is one published by the WHO that Prof Ioannidis updates his estimate for the IFR but with obviously much more data,published after being peer reviewed and updated Sept 13th 2020.

https://www.statnews.com/2020/03/17/a-fiasco-in-the-making-as-the-coronavirus-pandemic-takes-hold-we-are-making-decisions-without-reliable-data/

The current coronavirus disease, Covid-19, has been called a once-in-a-century pandemic. But it may also be a once-in-a-century evidence fiasco.

The data collected so far on how many people are infected and how the epidemic is evolving are utterly unreliable. Given the limited testing to date, some deaths and probably the vast majority of infections due to SARS-CoV-2 are being missed. We don’t know if we are failing to capture infections by a factor of three or 300.

This evidence fiasco creates tremendous uncertainty about the risk of dying from Covid-19. Reported case fatality rates, like the official 3.4% rate from the World Health Organization, cause horror — and are meaningless.

Projecting the Diamond Princess mortality rate onto the age structure of the U.S. population, the death rate among people infected with Covid-19 would be 0.125%. But since this estimate is based on extremely thin data — there were just seven deaths among the 700 infected passengers and crew — the real death rate could stretch from five times lower (0.025%) to five times higher (0.625%).

Could the Covid-19 case fatality rate be that low? No, some say, pointing to the high rate in elderly people. However, even some so-called mild or common-cold-type coronaviruses that have been known for decades can have case fatality rates as high as 8% when they infect elderly people in nursing homes. In fact, such “mild” coronaviruses infect tens of millions of people every year, and account for 3% to 11% of those hospitalized in the U.S. with lower respiratory infections each winter.

If we assume that case fatality rate among individuals infected by SARS-CoV-2 is 0.3% in the general population — a mid-range guess from my Diamond Princess analysis — and that 1% of the U.S. population gets infected (about 3.3 million people), this would translate to about 10,000 deaths.

One of the bottom lines is that we don’t know how long social distancing measures and lockdowns can be maintained without major consequences to the economy, society, and mental health. Unpredictable evolutions may ensue, including financial crisis, unrest, civil strife, war, and a meltdown of the social fabric. At a minimum, we need unbiased prevalence and incidence data for the evolving infectious load to guide decision-making.

In the most pessimistic scenario, which I do not espouse, if the new coronavirus infects 60% of the global population and 1% of the infected people die, that will translate into more than 40 million deaths globally, matching the 1918 influenza pandemic.

The vast majority of this hecatomb would be people with limited life expectancies. That’s in contrast to 1918, when many young people died.

One can only hope that, much like in 1918, life will continue. Conversely, with lockdowns of months, if not years, life largely stops, short-term and long-term consequences are entirely unknown, and billions, not just millions, of lives may be eventually at stake.

If we decide to jump off the cliff, we need some data to inform us about the rationale of such an action and the chances of landing somewhere safe.

John P.A. Ioannidis is professor of medicine and professor of epidemiology and population health, as well as professor by courtesy of biomedical data science at Stanford University School of Medicine, professor by courtesy of statistics at Stanford University School of Humanities and Sciences, and co-director of the Meta-Research Innovation Center at Stanford (METRICS) at Stanford University

 

 

 

 

Prof John Ioannidis,Sep 13th 2020.Allowing for sampling errors IFR estimate at 0.2%

https://www.who.int/bulletin/online_first/BLT.20.265892.pdf

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Unfortunately, although science should be about questioning theories and data, it's become politicised around covid. Before covid, Ioannidis was rightly respected given his knowledge, experience and published reaserch. But, after his papers on covid, he has been attacked by the msm and other scientists, called a right-wing apologist, corrupt and incompetent. Fortunately, he has been supported by some of his peers. When covid fades into history, many years away, people can't complain they weren't warned about these horrendous mistakes and actions.

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Democorruptcy
On 22/07/2021 at 10:53, Starsend said:

I've been looking at the best ways to get exposure to natural gas, don't really trust the ETFs available like the Wisdom Tree one and it would be nice to receive dividends while waiting. BHP are apparently a major player in the gas arena and I like them for their huge copper exposure as well. Also Phillips 66, not seen them mentioned on this thread - pay a 5%+ divi at the moment as well.

2019 article about investing in gas stocks:

https://www.fool.com/investing/2019/12/15/how-to-invest-in-gas-stocks.aspx

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@sancho panza its funny you mention falls,because thats what half the calls my partner responds to are.Its when they press their button etc.Usually two respond to a fall because one really struggles to do it well,and not at all for obese people.They are so short staffed they have been sending them on their own for falls.One woman,very very experienced 61 years old pulled her back,but carried on working.Next shift the supervisor phoned her 3 times while she was heading to her list of calls to divert to others.Her attitude was so bad towards her she told her to forget it,she was coming back to the depot then going home,and she did.Shes now on the sick,and i doubt will return,shel do 6 months paid sick and leave.

Another woman who was semi skilled phoned in sick she same day,and i doubt she will be back.One younger girl packed in after she had a baby and is only doing 16 hours with a local care firm now,she gets the same money on welfare.The bosses are all working from home and are getting their big salaries for nothing.They are close to retiring though and dont care.The service is close to collapse.My partner stays to build up final salary pension and because the 3 x 12 hour shifts a week suit us as with me not working now we can enjoy the days shes off,but if it gets much worse she will go on the sick herself

Jumping into factories,almost every lower paid one around me are wanting people but cant get anyone decent.The youngsters drop shifts all the time,dont turn in,miss night shifts etc.One that supplies Nissan etc wants 50 production ops,but cant get them.Its £11 an hour,but they can get that at Amazon and now be filthy,and lots of nice women to chat up.

The coast was full yesterday of people obvious on benefits,you women,probably never worked etc.

The government are in for a massive shock.They think they can print instead of tax,but that is going to be removed soon,unless they force the BOE.

There is simply not enough reward for work,and worse not enough difference between working and a single mother with two kids on welfare.Furlough etc has opened peoples eyes to how much they are giving up of their life for little or no reward.

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14 hours ago, sancho panza said:

They have been lucky to have been able to give the appearance of having the ability to be authoritarian although that's more to do with the compliancy of the geneal population than police numbers.

Speak to any policeman who works the city streets of the UK outside London and they'll explain that it's more illusion than anything else and that the blue line is thinner than it's ever been.

I think the memory that stays with me the msot from the last year was the police in Bristol who arrested a preacher for giving soup to the homeless on the grounds he had breached corona regs.

Does the 'thin blue line' metaphor even still have validity? Didn't all police forces have a parmilitary makeover - to black - years ago? Not making a cheap point here, I predict/fear an ever creeping pivot toward American style policing over here (or European style for that matter).                                                                                                            Robert Peel, and his 'citizen constabulary' model, would be spinning in his grave. Read the originating 3 core ideas of policing, which today sound almost quaint, but in reality might help underline how broken today's society has become!?...  I accept law and order is complex and that there are many new driving causes, but we all know that building on foundations of sand always ends in epic fail.                                      https://lawenforcementactionpartnership.org/peel-policing-principles/

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1 hour ago, sancho panza said:

 and @wherebee

Staff are not wanting the overtime mainly for stress reasons as I understand it.

Currently,we're receiving 50% more calls than the busiest New Years Eve pre covid.Normally for NYE,we'll ahve extra crews on.

BackgroundWe have four categories of job,1 to 4.1 being life threatening,4 being a medical minor or hospital transfer.

In normal times,I'd take a patient into Resus maybe once every two shifts,maybe less-these are patients with acute life threatening issues.Everyone else either stays home or goes to normal A&E.

Currently,we're going to Resus two times a shift(3 the other night).Maybe we're unlucky but with less crews on,it stands to reason.These Cat 1 jobs can be very stressful as people can be near death or sometimes-very rarely thankfully-pass away on the vehicle during transport.Sustaining a pt who's on the edge of life itself,can be very stressful.

In between these jobs we're going to patients who have sometimes been waiting fiven to ten hours or more for us, and where the patient may have been on the floor for the whole ten hours.

It goes without saying really,that if people are waiting 5-10 hours for a response,by the time we get there ,their condition can often have worsened considerably.I went to a patient the other night who had three chronic issues ongoing anyone of which would have justified me ringing Resus and alerting him in-three.Not just one.

One shift last week,we were outside a care home about to alert a pt to Resus and there's a tap at the door and one of the patients in the care home has collapsed.I ditch my crew mate,go in and end up calling for back up crews to get this pt on a strecther and then alerted into Resus.The Dr at the hospital at the hospital was a bit teed off about the poor quality of my hand over but I pointed out that we'd got two pts in there and I was on my own.40 minutes later said Doctor still couldn't work out what was going on with the pt.

It's not jsut amublance staff getting frazzled but A&E staff are getting it even worse than us.

So that's the snapshot of my worklife at the minute.Hope it explains why people choose to stay home rather than pay 40% tax on their overtime payments-again credit to the thread and @DurhamBornin particular for running this theme.It's coming true.People are genuinely chinning off the overtime to avoid the stress.

Young people getting smashed and enjoying life I'm really happy to see

I feel good knowing there are real people out there doing real stuff like this.  Ex-military and now this, you've done us proud me son!  May all your trades expire well in the money.  :Beer:

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7 hours ago, feed said:

I grew up in Rotherham and although my grandfather had retired from mining, i still remember the police 
beating the shit out of the miners.  The miners didn't have the public on side and the police were lumps back then.

I don't think todays police would stand a chance in a similar long running conflict.  But i don't know if there is anything remaining that could align a group of working class men the same way today.  
 

Perhaps all future new police intake will need to be equity driven, armed social workers!! I think that's the kind of year-zero, confused chaotic 'best of both' liberal mindset ideal that we are heading toward. 

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7 hours ago, SpectrumFX said:

It's the first rule of running a corrupt regime. The allocation of scarce resource based on political whim and favour.

Also allows government to present themselves as politically virtuous and compassionate human beings. Any opposition groups can then be easily brushed aside (or worse) as regressive/right wing/hatefull types who are merely poisoning the well for the majority.                                                            ...As other posts have ruefully commented here over last few days, not something I would have believed possible happening here in the UK, but last year's contrived and crude Covid response changed everything for me.

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47 minutes ago, JMD said:

Perhaps all future new police intake will need to be equity driven, armed social workers!! I think that's the kind of year-zero, confused chaotic 'best of both' liberal mindset ideal that we are heading toward. 

Guy on the radio (ex-Copper against some police practices like logging stuff against you) was saying something like how it seems they don't want a smart force, just compliant folk to do their bidding.  Turning moment stuff everywhere these days.

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1 hour ago, DurhamBorn said:

There is simply not enough reward for work,and worse not enough difference between working and a single mother with two kids on welfare.Furlough etc has opened peoples eyes to how much they are giving up of their life for little or no reward.

I had a low level (thanks to my sense of self preservation) encounter this week which made me realise it's not just about the money but that they've produced an zombie underclass with no social skills, awareness, sense of self preservation, etc.  A group of soap, X-factor and social media obsessives (that being their "world") which could/are causing me great harm with their vote and gullibility against the agendas of the polos and their sort.  A harmful waste for them and me.   We do need to factor in such societal cracks into our work. 

Talking of which I see Mr Napier (as a help in this process rather than as one of "them"!) is guest in a recent MoneyWeek podcast!

https://moneyweek.com/russell-napier-podcast

Also one that may also be of relevance:

https://moneyweek.com/economy/603537/niall-ferguson-why-well-never-be-prepared-for-disaster

Actually, a fair few with the "watch out" theme!

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2 hours ago, arrow said:

If you believe in one of the themes of this thread. Low prices mean you should be able to buy across the sector, choosing good dividend yields and reasonable balance sheeets.  If prices drop lower, then top up. Just keep a %cash in your account.

Pension funds are divesting from fossil fuels, one factor causing lower share prices. If it was illegal here or in the west, then China and Russia would declare a national holiday and celebrate by buying up the western oil/gas companies.

If 80% of profits were taken, the share prices would collapse and then Russia and China would...as above.

Meanwhile our societies, which are based on this cheap energy would collapse. It would be time to learn to speak Russian and Chinese for our new overlords.

I was being facetious and exaggerating but if you haven't noticed, what you explain is actually happening in slow motion as we speak.

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29 minutes ago, Harley said:

Guy on the radio (ex-Copper against some police practices like logging stuff against you) was saying something like how it seems they don't want a smart force, just compliant folk to do their bidding.  Turning moment stuff everywhere these days.

Also I accept that policing in a multi cultural society is a difficult thing, might not even be possible? Ie have people here seen the ch5 'Bailiff's...' show, can't remember it's full title... - NOT the BBC version of this genre which is very filtered, whereas the ch5 version illuminately shows the 'different communities' reactions to authority more accurately (and an insight into what police experience I bet). Full of 'dodgy communities', seemingly very prone to intimidation and violence, would be my summation - all very depressing really. However the liberal mind set bunch would simply reject my statements and accuse me of rasicm no dought. 

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11 hours ago, StrugglingMillennial said:

I looks like the transition to the chinese model is about to begin.

https://www.dailymail.co.uk/news/article-9820061/Families-discounts-free-tickets-government-backed-rewards-scheme.html

Get ready for your digital yuan everyone!

Why not reduce VAT on fruit and veg, and make local authority leisure/sports centres free of charge.......oh no, letsake it twice as complicated so their `friends` in Capita and Serco can `milk` the tax payer!

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Bobthebuilder
5 minutes ago, MrXxxx said:

Why not reduce VAT on fruit and veg

Zero VAT on raw foodstuffs already.

I have decided to remove myself from work and "society" for the time being. Everyone has gone mad.

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Marlboro maker calls for cigarette ban in Britain

'Cigarettes should be treated like electric cars and banned within a decade', say executives at tobacco company Philip Morris International

ByOliver Gill, CHIEF BUSINESS CORRESPONDENT24 July 2021 • 7:00pm

Britain should treat cigarettes like petrol cars and ban them in 10 years’ time, bosses at the world’s biggest listed tobacco company have said.

André Calantzopoulos and Jacek Olczak, chairman and chief executive respectively of Philip Morris International, say a “carrot and stick” approach is required by the Government to force smokers to quit.

Mr Olczak said: “We can see the world without cigarettes. And actually, the sooner it happens, the better it is for everyone.”

Mr Calantzopoulos praised the UK’s “more progressive” approach to vapes and other products designed to wean people off smoking. He said a ban “could be one solution - but this is not enough”.

“Deadlines are important at a certain stage so people [companies] know how much horizon they have,” he said. “It is not different from what [is being done] with alternative energies or with electric cars... [But you need to] stop the confusion that currently exists in the minds of smokers.”

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Mr Olczak added: “If you take the current usage or awareness of alternatives and remove this confusion - quite a lot of people actually, still think that alternatives are worse than cigarettes - and you also give them a choice of smoke-free alternatives... with the right regulation and information it can happen 10 years from now in some countries. And you can solve the problem once and forever.”

Philip Morris, the company behind Marlboro cigarettes, has faced a backlash from anti-smoking campaigners after launching a £1bn swoop for FTSE 250 drugmaker Vectura. The Chippenham-based firm develops drugs that combat smoking for the NHS.

Ian Walker, an executive director at Cancer Research said tobacco giants were positioning themselves “as part of the solution to a smoke-free world, all the while continuing to aggressively sell and promote lethal cigarettes globally.

“The industry has a long history of subverting tobacco control policies for its own financial gain, both in the UK and globally.”

With temperatures near freezing, a handful of IBM consultants filed into Philip Morris’s glass-fronted offices on the banks of Lac de Neuchâtel in north-west Switzerland.

As pharmaceutical specialists, they were intrigued by an appeal for help from one of the world’s biggest cigarette makers.

Bosses at Philip Morris International, creator of “Marlboro Man” after its popular cigarette brand, had been trying to find out the primary cause of smoking-related diseases.

The problem, the consultants were told at the 2004 meeting, was not tobacco or nicotine, per se. Instead it was burning, and the smoke that came with it.

“They had been looking to see what technologies could be used that could deliver what smokers are looking for: the satisfaction of nicotine, the taste and flavour, and the ritual that smokers like,” says one of the consultants.

A cigarette production line at Philip Morris International in Medellin, Colombia. CREDIT: Nicolo Filippo Rosso/Bloomberg

“I came on to the project with a bunch of colleagues to basically re-engineer the R&D facility – and function much more like a pharmaceutical company.”

Earlier this month Philip Morris agreed a £1bn swoop for Chippenham-based drugmaker Vectura, which focuses on creating inhaler-based treatments for illnesses such as asthma and chronic obstructive pulmonary disease.

In light of the manoeuvrings by the Swiss-headquartered firm 17 years earlier, the only surprise for some insiders was that it had taken this long to do such a deal.

The backlash has been fierce, however. How could Philip Morris, the world’s biggest tobacco company, be allowed to buy a firm that provides medicines to the NHS to combat diseases caused by smoking, critics asked?

The company was accused of “buying into the heart of the pharmaceutical industry” by anti-smoking campaigners who urged the Government to intervene and block the deal.

Bosses at Philip Morris insist the Vectura deal is part of its goal to become a “wellness company”, and stated ambition in “delivering a smoke-free future”.

“Where do we go?” asks André Calantzopoulos, chairman of Philip Morris, venting his frustration at being told he cannot diversify into pharmaceuticals. “Then there are some other critics who are telling me alternatives to smoking, [the tobacco] industry shouldn’t be allowed to do.”

“So what I am left with is continuing selling cigarettes. We just get back to the point [that] we are actually trying to leave!”

The notion of Big Tobacco looking beyond cigarettes is not new.

Philip Morris has owned Miller Brewing and Kraft Foods – the latter floating as recently as 2001 in what was then the second-biggest stock market listing of all time.

British American Tobacco (BAT), London’s biggest listed tobacco company, owned retailers Argos and Saks Fifth Avenue in the 1970s and combined Eagle Star, Allied Dunbar and Farmers Group a decade later to form the UK’s biggest insurance group.

 

In recent years Big Tobacco has largely returned to its roots, with an arsenal of vaping, heated tobacco and nicotine pouch products. Pharmaceuticals appear to be the next frontier – at the moment only Philip Morris has delved into the sector.

Armed with gargantuan marketing budgets, health campaigners are sceptical of Big Tobacco’s intentions.

Ian Walker, an executive director at Cancer Research, is concerned that companies are positioning themselves “as part of the solution to a smoke-free world, all the while continuing to aggressively sell and promote lethal cigarettes globally”.

Big Tobacco continues to make big profits. BAT is this week expected to report £5.2bn of operating profit on £12bn of sales – an eye-watering margin that its FTSE 100 rivals could only dream of.

Ahead of this, Vuse, BAT’s vaping product, embarked on a publicity stunt on the River Thames. Laying claim to be the first carbon neutral brand of its type, a Vuse-liveried sailing boat passed through the gates of Tower Bridge – much to the chagrin of angry taxi drivers, whose diesel-guzzling black cabs pumped out noxious fumes as they stood idling.

Kingsley Wheaton, BAT’s chief marketing officer, understands the scepticism but insists companies like his are best placed to wean people off cigarettes.

He points out that although cigarette sales are falling, the number of global smokers – roughly 1.1bn – has remained static for some time.

“In 2012 I was handed a [World Health Organisation] forecast of the number of smokers by 2050, and it was ostensibly flat. Tobacco control policy of its day, and still of now, is the one of ‘quit or die’,” he says. 

“And I don’t believe ‘quit or die’ is an effective public health policy. The effective policy is giving consumers alternative ways to enjoy tobacco, nicotine with less of the harm. And that’s what we’re doing.”

To prove the veracity of lofty straplines like “creating a better tomorrow”, industry critics say tobacco companies should either stop selling cigarettes, or at the very least sell off their cigarette-making arms.

The former idea will not solve the problem, says Wheaton. “If you take South Africa last year, we had a smoking ban for four-and-a-half months because of Covid; consumption didn’t decline at all. The void was just filled by counterfeit, contraband, smuggling and illicit traders.”

Selling off their business is also unappealing. “Not in the foreseeable future,” says Murray McGowan, strategy director at BAT’s FTSE 100 rival Imperial Brands. “Cash flow from our combustible business is absolutely fundamental to our ability to invest into the development of our [next generation products] business.”

Wheaton suggests a sell-off might not yield a good price. “You have to have willing buyers and willing sellers,” he says.

“And when we talk about ‘creating a better tomorrow’, we are talking about ‘creating a better tomorrow’ for multiple stakeholders. We have employees, we have society, we have consumers. And we do have a fiduciary responsibility to our shareholders.”

While only Philip Morris is pushing into the pharmaceutical sector, BAT and Imperial Brands have interests in cannabis derivatives, which are legal across Canada and parts of the US. Japan Tobacco International (JTI), with brands such as Benson & Hedges and Silk Cut making it the biggest cigarette seller in the UK, is more defensive. 

A spokesman says: “We are a legitimate business in a legal industry just like beverage companies. They, like us, have introduced potentially less harmful products such as sugar-free or alcohol-free drinks to cater to changing consumer choices and lifestyles. As a legitimate company selling legal products, we should be able to provide adult consumers with innovative and potentially less harmful products.”

Critics like Walker are unconvinced: “The industry has a long history of subverting tobacco control policies for its own financial gain, both in the UK and globally, and so protecting public health from its vested interests is crucial.”

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Noallegiance
19 minutes ago, Cattle Prod said:

The monorail guy from the Simpsons. 

Oldest ones are the best.

 

"Be like the boy! Let me hear you! Ladies on the left!"

Ladies: "Be like the boy!"

"Fellas on the right!"

Fellas: "Be like the boy!"

"Old folk in the back!"

Old folk: "We like Roy!"

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3 hours ago, planit said:

I was being facetious and exaggerating

I wasn't.   I'm learning Russian and Chinese

 

3 hours ago, planit said:

but if you haven't noticed, what you explain is actually happening in slow motion as we speak.

The slower, the better. I'm a slow learner

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1 hour ago, Cattle Prod said:

100%. Mine have changed from having a small self sustainable house in the hills to being more mobile, across countries if necessary. Its the gypsy life for me, suits me fine.

I don't want any immobile asset because it will be heavily taxed and/or monitored. 

Likewise @CP, but at the moment we don't even have the mobility...and with Brexit we have lost the right of residence across the whole of Europe!

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1 hour ago, Bobthebuilder said:

Zero VAT on raw foodstuffs already.

I have decided to remove myself from work and "society" for the time being. Everyone has gone mad.

Ah yes, its the processed stuff that has a VAT rating....got to be an easier way than they are planning thought...perhaps a claim back set-up like the 'Eat out' promotion that Rishi did.

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59 minutes ago, Cattle Prod said:

Susan Michie who took over the narrative from Iodonnis early doors aren't even scientists. Behavioural psychologists were never trained with the left method, but they sure know how to nudge people through the fairground gates.

 

They've researched over many decades and through many different regimes in how to perfect their techniques. Somes democracies and some dictatorships.  Sage has been less about science and more about manipulation. Look back to the Milgrim experiment and similar studies throughout the years. The experiment, though criticised, has been replicated with similar results, where people were manipulated into becoming torturers.

Then look at the comments about "anti-vaxxers" in the msm like the FT. Lynch mobs in the making.

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Bp is accelerating its push into renewables, with these press releases for July. Not sure whether to buy renewable stocks now, as I own Bp shares and it looks to be turning itself into one, apart from its rosneft share (and other oil/gas fields)


"bp has formed an exclusive consultancy agreement with Quaybridge, a leading UK-based renewables consultancy with global expertise in offshore wind.  The two will work together to advance bp’s global offshore wind portfolio as part of its zero-carbon growth strategy, and accelerate the building of in-house offshore wind knowledge for bp."

"bp has acquired UK-based digital energy business Open Energi. The company’s digital platform uses real-time data to optimise the performance of energy assets. It can generate savings and maximise revenues for customers by connecting to power markets and providing flexibility at times of low renewable generation and during price peaks. It also accumulates data and learns how best to further optimise the energy use of different assets over time."

"bp and EnBW submitted their bid for offshore wind acreage in the ScotWind leasing round.The consortium has applied for a lease area off the east coast of Scotland that could support offshore wind projects with 2.9 gigawatts (GW) generating capacity. But the bid seeks to go far beyond developing wind power and aims to accelerate Scotland’s entire energy transition – from producing clean power to using it in new industries."

"bp and Energie Baden-Württemberg AG (EnBW) today confirmed the names of their planned new offshore wind projects in the Irish Sea – Morgan and Mona – and launched a dedicated supplier portal for the developments.When complete, Morgan and Mona will have a combined potential generating capacity of 3GW, sufficient to power the equivalent of approximately 3.4 million UK households with clean electricity."


"bp yesterday closed its deal with US solar developer 7X Energy for 9GW of solar development projects. The projects are spread across 12 US states, with the largest portfolios in Texas (ERCOT) and the Midwest (PJM). Assets with a combined generating capacity of 2.2GW are expected to reach final investment decision (FID) by 2025, with further projects progressing by 2030. Once developed, these projects will have the capacity to generate enough clean energy to power around 1.7 million US homes. The development is also expected to support thousands of jobs through construction."

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3 hours ago, Cattle Prod said:

Fulky Agree. 'Doing' science is pretty simple: it's basically trial and error, build on what works. It's been done this way for a long time. Covid has been akin to the guy selling potions at the fairground "believe in me". I saw this on Twitter and nicked it:

Screenshot_20210724-202632_WhatsApp.thumb.jpg.4d654b761024576d072f38f4803198d4.jpg

The left one is exactly how I was trained. It's pretty straightforward. The right one is Covid, think of that next time you hear or read "the science/experts say" etc. Part of it is becsuse the likes of Susan Michie who took over the narrative from Iodonnis early doors aren't even scientists. Behavioural psychologists were never trained with the left method, but they sure know how to nudge people through the fairground gates.

The monorail guy from the Simpsons. That's who is running this shit show.

Plus Mitchie's a commited lifelong Marxist, her parents were also, and her ex was a Corbyn senior adviser. What strange times we live in.

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More BP exposure to renewables, i wonder if they grow and float?  50%  holding, be interesting to see in the results ahead if this gets more of a mention,  certainly a lot going onhttps://www.lightsourcebp.com/about/

3.5GW developed and a development pipeline of 20GW   you can dig a little deeper if needed by going to companies house and searching lightsourcebp for financial information and a lot more backround. 

 

 

 

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geordie_lurch

More details of the English version of the Central Bank Digital Currencies (CDBC) that this Covid crap is all about. Link this to your Digital ID (Vaccine Passport) and restrict how much benefits or your own cash you can have and how long and where you can spend it and we will all be living in a 'light' version of China. TPTB will then start changing the goalposts after implementation to penalise those who speak out of turn against the Government and such like and we will then be fully paid up slaves in the New World Order too :PissedOff:

https://www.dailymail.co.uk/news/article-9821855/amp/Rishi-Sunak-plans-replace-cash-official-digital-currency.html

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Noallegiance
19 minutes ago, geordie_lurch said:

More details of the English version of the Central Bank Digital Currencies (CDBC) that this Covid crap is all about. Link this to your Digital ID (Vaccine Passport) and restrict how much benefits or your own cash you can have and how long and where you can spend it and we will all be living in a 'light' version of China. TPTB will then start changing the goalposts after implementation to penalise those who speak out of turn against the Government and such like and we will then be fully paid up sides in the New World Order too :PissedOff:

https://www.dailymail.co.uk/news/article-9821855/amp/Rishi-Sunak-plans-replace-cash-official-digital-currency.html

Of course, like the classic salesman, the most important point is left until last. 

"A digital currency where customers have accounts directly linked to the Bank of England would also make it far easier to issue so-called 'helicopter' money, where funds are injected into people's pockets by the Government.

This could prove a more effective way of stimulating the economy in times of crisis than quantitative easing (QE)."

The process known as psychological anchoring continues.

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