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

[marceau]

22 minutes ago, Lightscribe said:

You can’t blame them. It’s like a 5 year old interpretation of an amalgamated mishmash of BBC propaganda summed up in a paragraph.

It is however an important reminder for us. This is what the nation mostly consists of. That’s why there will be no austerity and pulling socks up to save the economy. The FT reader comments doesn’t even understand that and calls for more bennies. 

We are well and truly fucked. If you can, leave the country.

I normally avoid them but I've been reading some of the Tory think tank and policy types over the last 24 hours. Not a single one grasps the problem. They're all focused on pushing more money out to the 'needy' - ie pensioners, benefits and disability, with no finer discernment of the content of those groups whatsoever. The general tone for those in work is they are going to have to 'suck it up' - and there's near total backing for more immigration, which the UK public are apparently 'happy' with now that Brexit has happened. Unless Truss has some magic team that isn't connected to these people I think a Sterling crisis is baked in at this point.

As was the case for 2008, seeing it coming sets you up for a shock when the world cooks up a false narrative in front of your eyes. Nobody will want to engage with the true story. Just take your profits, correctly arrange your affairs and let the retards move on to the next disaster, it's all you can do.

[Harley]

8 hours ago, Bus Stop Boxer said:

HOLY FREAKIN GOD.

"Bluebells12 · Today 19:11

Yanbu. Life was very good in Europe for a long time.

Then Trump decided to shred American power so he could be Mr Big, and Boris decided to shred British power and get rid of European cheap labour / cheap holidays / cheap imports / cheap food so he could be Mr Big, and meanwhile Putin wasn’t scared of Trump’s America or the Brexit-weakened EU and decided to invade Ukraine so he could feel like Mr Big, and meanwhile no one was tackling climate change, and so animal germs started mutating enough to pass to humans more often, and so covid cost us all a fortune, and suddenly everything was a bit shit. So Boris went on holiday.

It isn’t bad luck though, it’s bad management. The history books are going to have a LOT to say about world leaders in our time, and none of it will be complimentary. And meanwhile what’s China doing? Pondering whether to invade Taiwan. 🙄

Bloody hate men being in charge sometimes. We need fewer boys dreaming of being Mr Big and instead more managers. In fact no one should be allowed to stand for public office unless they’ve excelled at a basic manager job".

I was going to post that.  Surely no way that's genuine?  Look at the way it's written, starting with the grab capitalised heading, the sandwhich technique, etc.  Does that shite really work? 

[Yadda yadda yadda]

12 minutes ago, Harley said:

I was going to post that.  Surely no way that's genuine?  Look at the way it's written, starting with the grab capitalised heading, the sandwhich technique, etc.  Does that shite really work? 

Looks like trolling to me. Mums net is a prime trolling ground.

 

[Yadda yadda yadda]

Euro taking a cold bath overnight. Someone might pull the plug out and watch it swirl down the hole.

[RJT1979]

I am confused, but my knowledge of PIP assesments isn't enough to judge anything. But I was always under the assumption that for higher rate PIP that you would have to be struggling to achieve even basic tasks, like only being able to make a basic sandwich with difficulty, yet OP is making roast dinner for the familiy of 6. So I assume that there must be alternative points to score for her immunocompromised state.

haha

[onlyme]

5 minutes ago, Yadda yadda yadda said:

Euro taking a cold bath overnight. Someone might pull the plug out and watch it swirl down the hole.

Has been looking like the BOE wanted to fart around in the interest rate zone in-between  europe and the US and not be noticed/picked out, if europe has to normalise more to the FED rate  BOE going to have to follow.

[Lightscribe]

2 minutes ago, RJT1979 said:

I am confused, but my knowledge of PIP assesments isn't enough to judge anything. But I was always under the assumption that for higher rate PIP that you would have to be struggling to achieve even basic tasks, like only being able to make a basic sandwich with difficulty, yet OP is making roast dinner for the familiy of 6. So I assume that there must be alternative points to score for her immunocompromised state.

haha

She’s too immunocompromised to even have workmen in the house (council paid renovations) but can get on a plane and go on holiday twice a year, motability car and doesn’t even use the two top bedrooms of a 5 bed council house and is moaning about energy costs (about the only thing she has to pay for). She won’t have any benefit caps as she is ‘disabled’.

PIP puts all the shit together for a ‘score’ so she adds on the anxiety from suffering some kind of ‘abuse’ in the past, plus chemo etc. If you can get the doctor to sign off enough shit for you, top PIP score is quite easily achievable.

[Spiney Norman]

11 hours ago, One percent said:

the only bricks I’ve ever laid was a dwarf retaining wall in the garden

Walls are no good they will just tunnel under it.

[ThoughtCriminal]

1 hour ago, marceau said:

I normally avoid them but I've been reading some of the Tory think tank and policy types over the last 24 hours. Not a single one grasps the problem. They're all focused on pushing more money out to the 'needy' - ie pensioners, benefits and disability, with no finer discernment of the content of those groups whatsoever. The general tone for those in work is they are going to have to 'suck it up' - and there's near total backing for more immigration, which the UK public are apparently 'happy' with now that Brexit has happened. Unless Truss has some magic team that isn't connected to these people I think a Sterling crisis is baked in at this point.

As was the case for 2008, seeing it coming sets you up for a shock when the world cooks up a false narrative in front of your eyes. Nobody will want to engage with the true story. Just take your profits, correctly arrange your affairs and let the retards move on to the next disaster, it's all you can do.

You've made the post I was going to.

 

For a pivot towards sanity in taxation and work it requires a constituency in the media, think tanks etc to be laying the ground, but it doesn't exist.

 

Everything I read from Tories and the Tory press is calling for more bennies and more immigration.

 

I just can't see a change of course at this point, the country is too conditioned to bennies being from the magic money tree.

[wherebee]

3 minutes ago, Spiney Norman said:

Walls are no good they will just tunnel under it.

You deserve more than a like for that.  Virtual beer for you.

[ThoughtCriminal]

Germany days away from having to implement its gas rationing plan.

 

Putin is laughing his cock off.

[M S E Refugee]

Just now, ThoughtCriminal said:

Germany days a away from having to implement its gas rationing plan.

 

Putin is laughing his cock off.

I thought their Gas Tanks were 90% full for the Winter?

[ThoughtCriminal]

1 minute ago, M S E Refugee said:

I thought their Gas Tanks were 90% full for the Winter?

From what I can gather from the head of the gas industry body, it's the spot price that's killing them. They don't have the long term contracts locked in.

[ThoughtCriminal]

This is all I'm seeing regarding Germany on fintwit.

 

They actually think German chemical industry is going to compete by shipping gas from the middle East.

 

Human beings unwillingness to face facts is limitless.

[M S E Refugee]

 

[HousePriceMania]

12 hours ago, nirvana said:

never met a nice South African, and that's not bloody surprising mun

 

In my younger days I used to work in S.A. quite a bit.

2 points

1) I agree, never met a nice south african

2) The women are dirty as ****.

 

[feed]

13 minutes ago, ThoughtCriminal said:

Everything I read from Tories and the Tory press is calling for more bennies and more immigration.

That’s not strictly true is it.  There have been a number of articles linked here from the telegraph and Journos’ reading this site for material is starting to become a meme.
 

[HousePriceMania]

9 hours ago, Bus Stop Boxer said:

HOLY FREAKIN GOD.

"Bluebells12 · Today 19:11

 

One of my favorite songs, jesus they look young.
 

 

16 minutes ago, ThoughtCriminal said:

You've made the post I was going to.

 

For a pivot towards sanity in taxation and work it requires a constituency in the media, think tanks etc to be laying the ground, but it doesn't exist.

 

Everything I read from Tories and the Tory press is calling for more bennies and more immigration.

 

I just can't see a change of course at this point, the country is too conditioned to bennies being from the magic money tree.

How does that fit in with a sustainable environment ?

 

[Yadda yadda yadda]

Already we are seeing advice to extend mortgages or go interest only. Although the most laughable thing in this article is the example interest rate of 2%. Not for anyone re-mortgaging now. If they're suggesting repayment holidays for people still on a fix then they're talking about dead men walking.

https://uk.finance.yahoo.com/news/cut-biggest-bill-them-mortgage-080005151.html

[Chewing Grass]

2 minutes ago, Yadda yadda yadda said:

Already we are seeing advice to extend mortgages or go interest only. Although the most laughable thing in this article is the example interest rate of 2%. Not for anyone re-mortgaging now. If they're suggesting repayment holidays for people still on a fix then they're talking about dead men walking.

https://uk.finance.yahoo.com/news/cut-biggest-bill-them-mortgage-080005151.html

Going interest only on large mortgage means you are never going to move house ever again.

[Majorpain]

12 minutes ago, ThoughtCriminal said:

Germany days away from having to implement its gas rationing plan.

 

Putin is laughing his cock off.

Which makes this very dangerous territory indeed, once this snowball starts its going to be an avalanche before it can be stopped.

Issue is that if you prioritize people this winter then you have to let industry go to the wall and a load of people die next year as economy caves in, if you keep industry going as best as possible to keep economy going lots of people are going to be very cold at best, load of old people dying at worst.

IMO UK is mainly getting done in because despite having significant domestic, import and LNG capacity, those pipelines to Europe mean its more profitable to send as much as possible there rather than keep it in UK.  If those pipeline get shut off UK mainland gas prices are only going down.  Does Liz Truss fancy making herself super popular (with her own voters....) during her first week?

[nirvana]

54 minutes ago, Yadda yadda yadda said:

Euro taking a cold bath overnight. Someone might pull the plug out and watch it swirl down the hole.

only against the mighty USD, it's unmoved against the shitty £ eh? 

PS DXY takes 109, u heard it predicted yesterday eh? 

[HousePriceMania]

16 minutes ago, Yadda yadda yadda said:

Already we are seeing advice to extend mortgages or go interest only. Although the most laughable thing in this article is the example interest rate of 2%. Not for anyone re-mortgaging now. If they're suggesting repayment holidays for people still on a fix then they're talking about dead men walking.

https://uk.finance.yahoo.com/news/cut-biggest-bill-them-mortgage-080005151.html

IO mortgages still exist ?

[wherebee]

8 minutes ago, Majorpain said:

Which makes this very dangerous territory indeed, once this snowball starts its going to be an avalanche before it can be stopped.

Issue is that if you prioritize people this winter then you have to let industry go to the wall and a load of people die next year as economy caves in, if you keep industry going as best as possible to keep economy going lots of people are going to be very cold at best, load of old people dying at worst.

IMO UK is mainly getting done in because despite having significant domestic, import and LNG capacity, those pipelines to Europe mean its more profitable to send as much as possible there rather than keep it in UK.  If those pipeline get shut off UK mainland gas prices are only going down.  Does Liz Truss fancy making herself super popular (with her own voters....) during her first week?

one plus size is the evolutionary advantages of white skin smash in hard in a country in which cheap energy is not available.  Can't make Vit D at northern latitudes, can't heat yourself cheaply, and facing coronavirus infection every 6-18 months?

you're fucked.  as in proper fucked.

[Lightscribe]

1 hour ago, marceau said:

I normally avoid them but I've been reading some of the Tory think tank and policy types over the last 24 hours. Not a single one grasps the problem. They're all focused on pushing more money out to the 'needy' - ie pensioners, benefits and disability, with no finer discernment of the content of those groups whatsoever. The general tone for those in work is they are going to have to 'suck it up' - and there's near total backing for more immigration, which the UK public are apparently 'happy' with now that Brexit has happened. Unless Truss has some magic team that isn't connected to these people I think a Sterling crisis is baked in at this point.

As was the case for 2008, seeing it coming sets you up for a shock when the world cooks up a false narrative in front of your eyes. Nobody will want to engage with the true story. Just take your profits, correctly arrange your affairs and let the retards move on to the next disaster, it's all you can do.

I’ve always said Brexit was a set up. UKIP and then Brexit party clamoring was getting to hard to ignore. Cameron gambled with the vote and no one expected the vote to go the way it did. May was a remainer and Boris then went missing as usual. His whole family were remain as was he and we were expected to believe that he ‘changed’ his mind and switched sides. Brexit was no way part of the globalist playbook. 

It was set up to fail. The disinflation cycle was already ending and the reckoning was always coming, and the timing of leaving was closely lined up. It was going to be the ‘fall guy’ excuse for our hyperinflation, when really it was because of our service based economy, bloated public sector/pension costs and the fact that half our country relies on bennies and pays no tax. 

They must have been laughing behind closed doors letting millions in through the back door, whilst promoting meme flights to Rwanda and Joe public swallowing it up.

The final nail in the coffin is house prices. Once our holy mantra in this county of house prices collapse and millions are in negative equity with mortgages they can’t afford (what do you think the stamp duty holiday was for?) then our glorious leaders will hold another referendum to rejoin and that we all made a terrible mistake as we are ‘stronger together’ through these hard times. War may even accelerate that.