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

[Harley]

4 hours ago, Bus Stop Boxer said:

 

Dunno Fizzers.  If it happens, it happens.  If it don't, it don't.  Doesn't affect my investing.

[baffledbyzirp]

7 hours ago, Rollseyes said:

I am basing it on other people telling me I don't smell. I am living off the grid, in a camper, so showering is problematic. 

I do use beach showers though. 

The problem with living off the grid and not having any bills is that I simply hate paying for anything now, because I only spend money of diesel and food. I was tempted to grab two slices of pizza from someones leftovers in a mall yesterday. 

Living on a shoestring budget is my way of controlling inflation. I just wish I knew how to protect my dry powder from getting eaten away. This thread has certainly helped quite a bit though. 

Given the current state of the nation, and indeed the world, it is completely understandable that we are exercising greater prudence respecting the use of water, gas, electricity, and transport. I am cautious about minimising unnecessary waste for financial rather than environmental reasons. However, the debate is becoming a little granular and starting to remind me of the 4 Yorkshiremen sketch which was referenced a week past.

What I find most intriguing is that we live in a country that has an abundance of water yet we have to pay through the nose for it post privatisation. When the PIGS were bailed out by the EU state operated water sectors were privatised leading to public unrest in Ireland. TPTB are simply converting us all onto a paid subscription model with elastic characteristics. Previously local authority rates, water bills, leaseholder management fees were all minimal. Now, if you use a service a large financial toll is levied and, if you don't pay the enforcement mechanism via private debt collectors and court enforcement are well established. Original sin has been replaced by original debt. 

[ThoughtCriminal]

https://www.bbc.co.uk/news/uk-politics-62513966

 

Well that's a pleasant surprise.

 

Still not the Messiah, but good grief she looks better than the rest 

[ThoughtCriminal]

https://www.bbc.co.uk/news/business-62504789

 

And there it is.

[DurhamBorn]

43 minutes ago, baffledbyzirp said:

Given the current state of the nation, and indeed the world, it is completely understandable that we are exercising greater prudence respecting the use of water, gas, electricity, and transport. I am cautious about minimising unnecessary waste for financial rather than environmental reasons. However, the debate is becoming a little granular and starting to remind me of the 4 Yorkshiremen sketch which was referenced a week past.

What I find most intriguing is that we live in a country that has an abundance of water yet we have to pay through the nose for it post privatisation. When the PIGS were bailed out by the EU state operated water sectors were privatised leading to public unrest in Ireland. TPTB are simply converting us all onto a paid subscription model with elastic characteristics. Previously local authority rates, water bills, leaseholder management fees were all minimal. Now, if you use a service a large financial toll is levied and, if you don't pay the enforcement mechanism via private debt collectors and court enforcement are well established. Original sin has been replaced by original debt. 

£21 a month my water bill,bargain.We have Kielder.When i was a kid we used to play in the dried up old reservoirs around here.They used to have about a foot of water in the bottom all the way across and zillions of newts etc.All gone now,filled in.

[DurhamBorn]

39 minutes ago, ThoughtCriminal said:

https://www.bbc.co.uk/news/uk-politics-62513966

 

Well that's a pleasant surprise.

 

Still not the Messiah, but good grief she looks better than the rest 

She needs to set out to the country the mess we are in.No holding back.Then go for the reform.She needs to get the right people in cabinet.Now is the time to act,public will support her.First thing,scrap the BBC license.

[Pip321]

45 minutes ago, ThoughtCriminal said:

https://www.bbc.co.uk/news/business-62504789

 

And there it is.

"Temporary factors such as an extra bank holiday and the phasing out of the test and trace scheme were behind the fall in GDP in the second quarter," said Ms Selfin.

Honestly….the whole piece is a series of contradictions referencing increases in hospitality helping but removal of track and trace causing the fall. I might be misreading the piece because of skim reading and my increasing bias to shite surface reporting.

Seems to me they just say whatever pops into their head to fit a narrative. Like me after 5 pints.🍺🍺🍺🍺🍺

[marceau]

8 minutes ago, DurhamBorn said:

She needs to set out to the country the mess we are in.No holding back.Then go for the reform.She needs to get the right people in cabinet.Now is the time to act,public will support her.First thing,scrap the BBC license.

I'll believe it when I see it. Every tory leader sounds like this when they're at the door.

Once they're inside:

 

[Joncrete Cungle]

9 minutes ago, DurhamBorn said:

£21 a month my water bill,bargain.We have Kielder.When i was a kid we used to play in the dried up old reservoirs around here.They used to have about a foot of water in the bottom all the way across and zillions of newts etc.All gone now,filled in.

A number of reservoirs round here have been decommissioned, filled in or built on. Millions more people in the country since then, but less water capture and storage. We really are run by idiots

[mh9000]

Does anyone know what's going on with Jupiter Fund Management (JUP) ? Most of the Asset managers seem to have improved recently but these lot are taking a right shoeing of late.

Just curious...not panicking yet of course as it's early days for all the asset managers. 

[Pip321]

DB, I know you like retired civil servants so thought I would share.

Pub last night, my friends neighbours (retired civil servants since age 60) have just bought a car as a town run around. So the couple in their late 60’s now own 2 Volvos and now a brand new Clubman. 3 cars…yummy  

No room on the drive so they are taking down the garage and moving it back 20 foot for more space.

And these civil servants were furious over fuel and energy prices and we should somehow charge the extra we pay back to the Russians.

Marvellous…they appear to be economic and political geniuses too. No wonder they have ‘earned’ a wealthy inflation linked retirement 🤦🏻‍♂️

[Boon]

4 minutes ago, mh9000 said:

Does anyone know what's going on with Jupiter Fund Management (JUP) ? Most of the Asset managers seem to have improved recently but these lot are taking a right shoeing of late.

Just curious...not panicking yet of course as it's early days for all the asset managers. 

Jupiter went ex-dividend yesterday which knocked c.7p off.

Also they seem to have sucked with some of their investments, backing some right duds.

https://citywire.com/funds-insider/news/hargreaves-lansdown-funds-ditch-jupiter-small-caps-team/a2393652

[DurhamBorn]

21 minutes ago, marceau said:

I'll believe it when I see it. Every tory leader sounds like this when they're at the door.

Once they're inside:

 

True,but with Dishi collapse is certain.There are enough MPs in the Tory ranks to make a difference.Badenoch,Braverman for starters.Its the media,civil service,public sector etc that will stop things,so start by going to war with them.The fact she said cut tax,not more bennies is a huge step,and brave.

[Democorruptcy]

On 27/07/2022 at 09:46, DurhamBorn said:

More anyone with big German exposure.

Noticed Ray Dalio has been moving more and more capital to Emerging Markets as well out of the dollar.

https://hedgefollow.com/funds/Bridgewater+Associates

Bridgewater have filed their end of June positions and he went back the other way (then), Selling a lot of the Vanguard EM and buying Googl, Meta etc. Also sold some GLD.

https://whalewisdom.com/filer/bridgewater-associates-inc#tabholdings_tab_link

 

[ThoughtCriminal]

1 hour ago, marceau said:

I'll believe it when I see it. Every tory leader sounds like this when they're at the door.

Once they're inside:

 

Can't fault your scepticism, but I'm very surprised that she's come out like that and directly defended them, especially before the vote.

[JMD]

11 hours ago, Bilbo said:

So approximately 200,000 people homeless in London. Are they on the streets? Think we need to define homeless, don't you?

That's harsh of you... don't forget most of those people are also in 'poverty', oh and many also suffer from 'mental illness' and/or 'addiction problems'. The daily indignities these proud victims of an intolerant society are made to suffer should make your heart bleed!?!                            (25 years ago Douglas Adams might have included something sardonic like that in his brilliant Hitch Hickers... books, how things have changed?)

[ThoughtCriminal]

File under "ABSOLUTELY FUCKING NAILS IT!"

[Yadda yadda yadda]

3 minutes ago, JMD said:

That's harsh of you... don't forget most of those people are also in 'poverty', oh and many also suffer from 'mental illness' and/or 'addiction problems'. The daily indignities these proud victims of an intolerant society must suffer should make your heart bleed!?!                        (20 years ago Douglas Adams might have included something sardonic like that in his brilliant Hitch Hickers... books, how things have changed?)

Douglas Adams has been dead for more than 20 years. Hitchhiker's Guide is over 40 years old.

Man was a genius.

[marceau]

10 minutes ago, ThoughtCriminal said:

Can't fault your scepticism, but I'm very surprised that she's come out like that and directly defended them, especially before the vote.

She has no choice on energy, there's too much political pain. They need a short term fix and working with the energy firms is the only one available. That it happens to be the right thing to do is just incidental, they just want the headlines to go away.

If they get out the other side it'll be straight back to green stupidity - it's a matter of national policy, and international law.

[Boon]

She is so far ahead that she can now afford to say it as it is. And most Tory voters aren't going to mind that, she is not pitching at the general public.

Compare that to Sunak who is now groping around to see what can make him appeal to them, it'll be interesting if he decides to come out with a u-turn on something. He is finished in politics for the next few years otherwise.

[stoobs]

1 hour ago, Pip321 said:

"Temporary factors such as an extra bank holiday and the phasing out of the test and trace scheme were behind the fall in GDP in the second quarter," said Ms Selfin.

Honestly….the whole piece is a series of contradictions referencing increases in hospitality helping but removal of track and trace causing the fall. I might be misreading the piece because of skim reading and my increasing bias to shite surface reporting.

Seems to me they just say whatever pops into their head to fit a narrative. Like me after 5 pints.🍺🍺🍺🍺🍺

I was thinking exactly the same. They just pick a small item that is roughly the size of the growth/reduction and blame that for the entire figure.

If you had a set of scales and put a tonne of gold on the left side and a tonne of horse manure on the right.

Then add a feather to the manure.

Economists would explain the scales are tipping to the right because of the feather, absolutely nothing to do with the massive pile of shit.

[JimmyTheBruce]

For those wondering if the government are still looking out for their buddies (and I mean the old guard rather than the over-leveraged newbies).  My bold:

Green Homes Grant Local Authority Delivery Scheme
To be eligible, households must:
•    Have a household income of £30,000 or less, or £20,000 or less after housing costs
•    Live in a property with an EPC (Energy Performance Certificate) rating of D, E, F or G (the four lowest ratings)
Both homeowners and landlords are eligible to apply for the scheme. In the case of a rental property, the household income requirement relates to the income of the household living in the property, and not the landlord’s income.
 

[ThoughtCriminal]

Those nails keep going in that petrodollar coffin.

[ThoughtCriminal]

11 hours ago, Loki said:

You can take my olive oil soap from my cold dead hot wet hands

Absolute revelation that stuff.

 

Mother gets me it dirt cheap from Turkey. Just water, olive oil and sea salt. 

 

Cleans like nothing else, and kind to your bollocks. 

[BadAlchemy]

Interactive Investor have dropped their trading fee from £7.99 to £5.99 From 1st September. Happy days!

https://www.ii.co.uk/our-charges#newpricing