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The economy as we knew it might be over, Fed Chairman says


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I was on a zoom call with the local chamber of commerce and council today. It was pretty interesting key take a ways  Most people who work for the council in the regeneration role are women wh

The bit where you have to pay back debt or pay taxes or council tax, they'll keep that bit of the economy. Probably never been stronger.   The bit where you earn a decent reward for a decent effo

We are. Since coffee shops and selling houses has been the primary pump of the economy and neither actually benefit anyone in the wider population then we have been fucked for years. It's just be

3 hours ago, Sideysid said:

Article hints at women and minorities being surplus to requirements in the new automated economy and requiring subsidies.

Might be an idea to stop importing more useless biological entities (UBEs) that require perma-subsidies from the economically useful.

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2 hours ago, Melchett said:

I think everyone on here knows this is true.

The whole furlow thing is simply a denial of reality. A very expensive denial of reality.

The chef who moved from North Wales to Cornwall is now back in North Wales and on TV crying about how crap it was he couldn't get furlough due to just starting a new job and the shitness of UC as he'd had 12 days pay meant he got no money from UC for the first month and how he's drowning in debt.

There will be people who have fell through the net. And it's pretty shit for them. But only in contrast as people have been sat on their arses and getting (in some cases full) 80% pay

 

The furlough thing should have been designed to lower the limit of what they'd pay out month by month. Wean people off the teat of taxpayers money.

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5 minutes ago, ad_ceng said:

I was on a zoom call with the local chamber of commerce and council today. It was pretty interesting key take a ways 

  • Most people who work for the council in the regeneration role are women who have no idea about business just talk about scheme etc. 
  • So many of the people on the call where third sector in some way to provide business support - from people who look about 20 years old and have no real world experience
  • Most of the 40 plus businesses on the call really did very little in the way of real business, I would say on 10 of them were proper businesses e.g. engineering, car sale, repairs, catering etc. most of the others were hobby businesses 
  • It was funny to see directors of companies (I am also a director of my own business) complaining that as they paid the majority of thier salary via dividends they got no help. Sorry you structure your tax affairs' to minimize tax you pay do not come for a hand out 

In short we had a zombie economy and covid has probably shown it for what it was, the real issue is how we recover do we go UBI and every one gov property essentially or do we open up to a low tax free trade economy. 

I was the only one on the call to call out the lockdown and government as the issue 

In short we are in real trouble 

Though that has been the Chamber of Commerce for as long as I've been aware of it.

I've always worked for companies with big balance sheets (though sometimes with only twenty or thirty employees) and knew that every invitation from the CoC was purely to give the local photocopier, printer, IT support or stationery company the opportunity to pitch their local wares to you despite your already having the best national deals through decent procurement.

In Cornwall they are always lobbying for more money for tourism promotion because they all run camp sites, gift shops, hotels, holiday homes, cafes and night clubs.

They are not to be mistaken for the real economy which has nothing to do with this unrepresentative handful of very vested interests.

Though listen to local radio or TV and you would think that they were the entire economy courtesy of their cultivating the media people.

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3 minutes ago, Frank Hovis said:

Though that has been the Chamber of Commerce for as long as I've been aware of it.

I've always worked for companies with big balance sheets (though sometimes with only twenty or thirty employees) and knew that every invitation from the CoC was purely to give the local photocopier, printer, IT support or stationery company the opportunity to pitch their local wares to you despite your already having the best national deals through decent procurement.

In Cornwall they are always lobbying for more money for tourism promotion because they all run camp sites, gift shops, hotels, holiday homes, cafes and night clubs.

They are not to be mistaken for the real economy which has nothing to do with this unrepresentative handful of very vested interests.

Though listen to local radio or TV and you would think that they were the entire economy courtesy of their cultivating the media people.

Maybe first time I have attended it was quite funny. I even opened my introduction with unlike you lot we actually do real business and work. 

Problem is these people get listened too 

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3 minutes ago, ad_ceng said:

Maybe first time I have attended it was quite funny. I even opened my introduction with unlike you lot we actually do real business and work. 

Problem is these people get listened too 

Because they have the time to talk while anyone in an actual business has real work to do.

And now back to work.

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Just now, deathfunk said:

I would say we need to go both free trade and UBI. Most importantly we need to reassert the differential in wealth between working and not working. Without this, productivity at the lower end of the spectrum will be in the dirt. Why would anyone graft for £20k when their neighbour simply pops out a few sprogs and gets £25k. It is demolishing across the whole of the country, all industry and commerce is palsied because we choose to go against the laws of nature. 

The non productive need to suffer greater poverty.

Housing needs to revert to its true value - one to two times average salary.

Money needs to be reformed away from the ever expanding debt based model we currently have.

Great post, we need to basically stop most handouts to people and to companies 

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5 minutes ago, eek said:

I sit in my home office (formerly a spare room) on a computer - it's not really work by any definition anyone prior to the 1980s would understand.

I'm on the sofa multitasking a Teams call while posting on here..

 

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5 minutes ago, eek said:

I sit in my home office (formerly a spare room) on a computer - it's not really work by any definition anyone prior to the 1980s would understand.

It depends what you do so much has changed since the 1980's

I sit in my spare room developing satellite systems - same work was done in the 1980's just IT and software tools enable me to do it remotely. 

Just now, Stuey said:

I'm on the sofa multitasking a Teams call while posting on here..

 

I fucking hate teams 

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I support UBI as long as everyone gets a slice.

I have been working a 3 day week for the last 3 months as I had a ton of leave I had to use, and it's so much better than 5 days a week.

I know that sounds obvious to say that; but the entire balance of your life is changed.

I'm going back to a 5 day week the week after next and I'm not looking forward to it.

For the first time in my life it's left me seriously contemplating whether I could swing a 3 day week longer term i.e. could I cope financially as it would represent a much better quality of life. Probably a terrible idea like - make hay while the sun shines and all that.

I guess what I'm saying is that if there isn't enough work to round then that's a good thing.....as long as it results in everyone working less; rather than some people not working at all and others spending most of their lives working.

Edited by JoeDavola
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2 minutes ago, JoeDavola said:

I support UBI as long as everyone gets a slice.

I have been working a 3 day week for the last 3 months as I had a ton of leave I had to use, and it's so much better than 5 days a week.

I know that sounds obvious to say that; but the entire balance of your life is changed.

I'm going back to a 5 day week the week after next and I'm not looking forward to it.

For the first time in my life it's left me seriously contemplating whether I could swing a 3 day week longer term i.e. could I cope financially as it would represent a much better quality of life.

I guess what I'm saying is that if there isn't enough work to round then that's a good thing.....as long as it results in everyone working less; rather than some people not working at all and others spending most of their lives working.

Progression to at least a four day week has been logical for some time.

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Just now, eight said:

Progression to at least a four day week has been logical for some time.

Yeah it would be a great start, and in many jobs wouldn't lead to a drop in productivity.

I'm just waiting for a party or politician to run on a mandate of "vote for me and everyone will work less and have more time to themselves" but it never seems to happen.

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2 hours ago, Chewing Grass said:

Article hints at women and minorities being surplus to requirements in the new automated economy and requiring subsidies.

Might be an idea to stop importing more useless biological entities (UBEs) that require perma-subsidies from the economically useful.

That makes the assumption that shops aren't reopening on the same scale. Restaurants, pubs, taxis, etc too.

Some closure of shops is inevitable but not the rest. That would be deliberate.

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10 minutes ago, eek said:

I sit in my home office (formerly a spare room) on a computer - it's not really work by any definition anyone prior to the 1980s would understand.

I always found that exhausting if I did it for more than two days on the trot; much more so than being in the office.

It's the unrelieved flatness of it.  There's no spark, no jokes, nothing new cropping up just unending grind.

If I hadn't already planned upon retiring this year would have made me do so.

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1 minute ago, eight said:

Progression to at least a four day week has been logical for some time.

Where I am there is a tacit consensus that work will be minimised on a Friday. Just means saving the difficult crap until Monday but still works well.

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