Credit deflation and the reflation cycle to come (part 3)

[Yadda yadda yadda]

49 minutes ago, Pip321 said:

If I struggled financially I would be saving every penny I could today for fear of not being able to eat this winter..

There will be mass non-payment. Why I got rid of my Macbeth shares. Rent will be paid but poor people will stop paying gas and electric.

[Bricormortis]

2 hours ago, snaga said:

The sea near Odessa is quite shallow <200m how shallow can it be for subs to operate in combat?

Dunno, its probably all just sabre rattling atm as majorpain suggests.

[Boglet]

45 minutes ago, Boon said:

I had a feeling this would be 'Kay's Cooking'.

I suspect that channel is actually deliberate, making dishes so bad that a lot of people are duped into thinking it is serious and thus getting publicity.

She has over 200k subscribers, so could be pulling in a bit of money per month from the ad revenue sharing program.

Certainly there are many wannabe serious TV chefs out there who actually put a lot of effort into recipies and filming who get less views. But seems to me that is easier to do the crap stuff. There was an account 'Rate my Takeaway' which started as a fat northern bloke eating chips on camera, I bet that is his full time job now.

I love Rate My Takeaway.

The guy's attitude, manner and accent are compelling.

[Loki]

I know it's Hedge but I have a lot of time for the Capitalist Exploits guys

https://www.zerohedge.com/news/2022-05-23/dark-era-supply-restriction-here

[ThoughtCriminal]

It's like a never-ending clown show.

[Bricormortis]

3 minutes ago, ThoughtCriminal said:

It's like a never-ending clown show.

Agree. And then we give India overseas aid.

[THE SOUP DRAGON]

37 minutes ago, Yadda yadda yadda said:

There will be mass non-payment. Why I got rid of my Macbeth shares. Rent will be paid but poor people will stop paying gas and electric.

Yes there will be a big rise in non payment. If you haven't got it how can you pay, the optics would not look good disconnecting people with snow on the ground outside. Media will obviously focus on the cases that generate the most sympathy. Meanwhile the scroats will be jumping on the bandwagon and not paying for energy whilst keeping up the multiple sports channel subs. 

how difficult is it to disconnect gas? I think there is a flexible pipe that can be removed between the main supply and meter. I expect we'll also see a big uptick in exploding houses.

[Bobthebuilder]

34 minutes ago, THE SOUP DRAGON said:

how difficult is it to disconnect gas? I think there is a flexible pipe that can be removed between the main supply and meter. I expect we'll also see a big uptick in exploding houses.

If you refuse them entry into your property, then the only option to the gas supplier is to dig up the road outside your house and cap off the main gas supply. They only do this in exceptional circumstances because of the cost, usually it is done for safety reasons rather than none payment.

If they can get to your gas meter they will cap the outlet side with a disc, again this is done for safety reasons. I think it would be more a non payment of bills court action, before they got anywhere near capping your meter.

[Colliedog1]

2 hours ago, Pip321 said:

Just had my request to increase my estimated costs for energy is £3174 and my DD has moved from £100 to £246 to new asking for £265. I think your average punter is going to have to shut up shop.....I for one will cut back on other things to make up for it just on principal. If I struggled financially I would be saving every penny I could today for fear of not being able to eat this winter..

Lots of numbers on the bottom for National Debt Line.....so that's nice. I see the standing charge has gone up too...well, in for a penny. 

Our local Co-op now charges £1.55 for milk (it was £1.10 with a two for one deal now gone). Yesterday I walked w minutes further to One Stop Shop to pick it up for £1.45 (we needed two so £2.90).....again on principal. No point considering the raise OTT and then not voting with your feet. I am sure my omission of milk today rocked them to the core, well maybe not but it made me feel better. 

I guess the whole problem of the benefit culture and state dependency (including pensions) is for those who don't earn their own money and rely on the state then the fact they can't eat becomes the governments problem  

 

We are with bulb, not put up our direct debit yet. Estimated bill last month was more than we used the previous month, lol.

We have the same a one stop shop and a co-op near each other. We have a Texaco garage where it was 1.89 the last time I made the mistake of buying it there, never again

[M S E Refugee]

48 minutes ago, THE SOUP DRAGON said:

Yes there will be a big rise in non payment. If you haven't got it how can you pay, the optics would not look good disconnecting people with snow on the ground outside. Media will obviously focus on the cases that generate the most sympathy. Meanwhile the scroats will be jumping on the bandwagon and not paying for energy whilst keeping up the multiple sports channel subs. 

how difficult is it to disconnect gas? I think there is a flexible pipe that can be removed between the main supply and meter. I expect we'll also see a big uptick in exploding houses.

Shit's gonna get real when the Moronic Populace realise the Government can do fuck all to help anybody.

[Colliedog1]

5 minutes ago, Bobthebuilder said:

If you refuse them entry into your property, then the only option to the gas supplier is to dig up the road outside your house and cap off the main gas supply. They only do this in exceptional circumstances because of the cost, usually it is done for safety reasons rather than none payment.

If they can get to your gas meter they will cap the outlet side with a disc, again this is done for safety reasons. I think it would be more a non payment of bills court action, before they got anywhere near capping your meter.

The gas man Bottom ?

[Bobthebuilder]

3 minutes ago, Colliedog1 said:

The gas man Bottom ?

Sorry Mr Collie, I don't understand what you mean.

[Animal Spirits]

The utilities will have to have follow a procedure compatible with the respective regulators for dealing with non payment including payment plans, social tariffs/pension credit and other communication which can end with a charging order.

For domestic customers, I wonder how many of these actually get that far given the costs associated with court. Maybe if the balance sheet hole gets big enough companies will step up debt recovery measures.

A succesful charging order would be a form of distribution, some of the hallowed equity gets consumed on sale and you do have to wonder how much cutting back occurs today before people take to non payment of utility bills.

[Animal Spirits]

8 minutes ago, Bobthebuilder said:

Sorry Mr Collie, I don't understand what you mean.

The gas man Bottom, is it an XYY Man reference?

[Wheeler]

 

[Innkeeper]

3 hours ago, Pip321 said:

Just had my request to increase my estimated costs for energy is £3174 and my DD has moved from £100 to £246 to new asking for £265. I think your average punter is going to have to shut up shop.....I for one will cut back on other things to make up for it just on principal. If I struggled financially I would be saving every penny I could today for fear of not being able to eat this winter..

Lots of numbers on the bottom for National Debt Line.....so that's nice. I see the standing charge has gone up too...well, in for a penny. 

Our local Co-op now charges £1.55 for milk (it was £1.10 with a two for one deal now gone). Yesterday I walked w minutes further to One Stop Shop to pick it up for £1.45 (we needed two so £2.90).....again on principal. No point considering the raise OTT and then not voting with your feet. I am sure my omission of milk today rocked them to the core, well maybe not but it made me feel better. 

I guess the whole problem of the benefit culture and state dependency (including pensions) is for those who don't earn their own money and rely on the state then the fact they can't eat becomes the governments problem  

 

We all like to pay less for things but milk prices in this country are so low that UK dairy farmers are giving up all the time - a tough job 365 days year (cows don’t take holidays) for bugger all return.  Cheap milk will come from abroad in the future or perhaps we all be drinking oat/soya/almond water by then.  None of these options are good for the planet.....

[Errol]

4 hours ago, snaga said:

The sea near Odessa is quite shallow <200m how shallow can it be for subs to operate in combat?

Russia Project 636.3 diesel/electric subs (Kilo class) are designed to operate in littoral areas.

Also known as the black hole because they are virtually the quietest sub in the world. They can float to the bottom in shallow areas and sit for a long time on the seabed. Just waiting.

[Bricormortis]

Yeah but have you seen the state of some of the women ?

[Lightly Toasted]

1 hour ago, Animal Spirits said:

The utilities will have to have follow a procedure compatible with the respective regulators for dealing with non payment including payment plans, social tariffs/pension credit and other communication which can end with a charging order.

For domestic customers, I wonder how many of these actually get that far given the costs associated with court. Maybe if the balance sheet hole gets big enough companies will step up debt recovery measures.

A succesful charging order would be a form of distribution, some of the hallowed equity gets consumed on sale and you do have to wonder how much cutting back occurs today before people take to non payment of utility bills.

I can see the courts being so clogged up that bills will effectively go unpaid. Then the government would need to choose:

1. streamline the bureaucratic process to enable disconnection (or maybe throttling, if that's even possible with gas?)
2. put up tariffs for everyone who is still paying (thus driving them into the non-paying segment)
3. let suppliers go bust due to being unable to collect customer payments, supply ultimately ends up in the hands of the state who will print enough gas to keep everyone warm.

 

[Barnsey]

5 hours ago, Pip321 said:

Just had my request to increase my estimated costs for energy is £3174 and my DD has moved from £100 to £246 to new asking for £265. I think your average punter is going to have to shut up shop.....I for one will cut back on other things to make up for it just on principal. If I struggled financially I would be saving every penny I could today for fear of not being able to eat this winter..

Lots of numbers on the bottom for National Debt Line.....so that's nice. I see the standing charge has gone up too...well, in for a penny. 

Our local Co-op now charges £1.55 for milk (it was £1.10 with a two for one deal now gone). Yesterday I walked w minutes further to One Stop Shop to pick it up for £1.45 (we needed two so £2.90).....again on principal. No point considering the raise OTT and then not voting with your feet. I am sure my omission of milk today rocked them to the core, well maybe not but it made me feel better. 

I guess the whole problem of the benefit culture and state dependency (including pensions) is for those who don't earn their own money and rely on the state then the fact they can't eat becomes the governments problem  

 

On the flip side, B&M have loads of stuff on sale since their share price cratered, plenty of solar lights available! Bring them inside at night 

[Bricormortis]

RE...yeah but have you seen the state of some of the women ?.... OOPS did a post above on the wrong thread cant edit now.

[reformed nice guy]

1 hour ago, Lightly Toasted said:

I can see the courts being so clogged up that bills will effectively go unpaid. Then the government would need to choose:

1. streamline the bureaucratic process to enable disconnection (or maybe throttling, if that's even possible with gas?)
2. put up tariffs for everyone who is still paying (thus driving them into the non-paying segment)
3. let suppliers go bust due to being unable to collect customer payments, supply ultimately ends up in the hands of the state who will print enough gas to keep everyone warm.

 

If only they had been pushing for some sort of meter that would allow variable pricing.....

Can smart meters allowing throttling?

[Bobthebuilder]

17 minutes ago, reformed nice guy said:

Can smart meters allowing throttling?

If you mean restricting the flow of gas, then no they cannot.

Pre pay meters can shut off completely when you run out of credit, not sure about smart meters, but a gas meter has to be either open or closed.

[kibuc]

On 30/05/2022 at 08:49, Yadda yadda yadda said:

With community spirit at the forefront, chatting to your neighbours and fostering harmony, Pocket wants residents to be able to interact and get on with each other.

In Croydon? They will want stab vests before interacting with the neighbours.

Must be the posh part of Croydon.

[Democorruptcy]

CBDC mean politicians and voters are so yesterday, as if they aren't already!

Quote

 

The second attraction is cultural: a wholesale CBDC can be organised by a club of central bank technocrats without needing much debate with politicians, or voters.

This does not make it easy to create wholesale CBDCs on a large scale. Far from it. The technology hurdles remain daunting. Wholesale CBDCs may also require central banks to cede a little sovereignty since using distributed digital ledgers means they no longer control fiat currencies in the traditional manner. That requires mutual trust.

However, the central banking tribe that convenes around the Bank for International Settlements in Basel does generally trust each other — and more than their own domestic politicians. More than a dozen cross-border wholesale CBDC experiments have occurred, not just with the French and Singaporean central banks, but countries such as Switzerland, South Africa, Thailand, China and the United Arab Emirates.

https://12ft.io/proxy?q=https%3A%2F%2Fwww.ft.com%2Fcontent%2F3810bc35-b9da-47b2-93ad-2ec2899c869b