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

[ThoughtCriminal]

Good to see the Greeks learned their lesson about magic money trees 🤡🤡🤡

 

Funded by producer tax 😂😂😂

[SpectrumFX]

1 hour ago, Lightscribe said:

It matters not, CPI linkage will still bankrupt the government in regards to public sector pensions. They will need to do emergency pension reforms and cap index linked rises.

The big clumsy lever that they have now is the pension age.

Most public sector schemes now quote a retirement age of Normal Pension Age (NPA), rather than a fixed age. This links the beneficiaries retirement date to whenever the government says that they can have the state pension.

This one's a bit obvious though. Most people won't notice a slow and steady dicking about with the indexation until it's too late for them to do anything about it, but everybody knows that you've fucked them over straight away when you change the date from which they can retire.

[Transistor Man]

@ThoughtCriminal 

They have a chance: they can forge the parts. 

https://www.jsw-me.com/en/products/01-02-02.html

 

 

[Axeman123]

22 minutes ago, ThoughtCriminal said:

Good to see the Greeks learned their lesson about magic money trees 

It's the German credit card, so its the Krauts that need to learn...

[Phil]

1 minute ago, Axeman123 said:

It's the German credit card, so its the Krauts that need to learn...

A switch to zero %  interest card for 24 months will help. Matin Lewis can advise. Sorted.

[Harley]

59 minutes ago, SpectrumFX said:

The trick is to do it discretely. You don't announce that you're nicking the pensions. You've got to be a bit sneaky.

Most public sector workers haven't got a Scooby doo how their pension works, and will pay little attention to incremental tweaks to rules and regs.

As I mentioned earlier I've already had a government pension have the indexation switched from RPI to CPI. The unions took the government to court over it, and the government won. The legal precedent is that they can do what they like with the indexation.

Therefore, all they need to do is create a brand new "terrible indexation rate for pensions" (but obviously for marketing reasons call it "the really great indexation rate for pensions"), and have it run under real inflation by as much as needed.

The other way that's even sneakier would be to leave the pensions on CPI, then change anything else linked to CPI that you don't want to fiddle to some new measure, and "amend" the CPI calculation so that it massively understates true inflation.

Easy peasy.

Good but semi-pro stuff!   You need more smoke.  So what you do is say the unprecedented cost of living crisis needs urgent action up to the unprecedented challenge.  We need an urgent root and branch initiative to proactively address how we resolve this unprecedented international crisis forced upon us. 

Everything gets changed so nothing is comparable and no one dare try.  Fog of war.  Ideally a war or better a new fresher type of distraction too.  Build the fear up by leaning into and redefining things with documentaries on Weimar, Venezuela, etc saying how bad if we do nothing.  Own the narrative.  Some sort of suitable popularist tv programme to stir the sofaed masses.  Find a suitable celeb after a dig into his/her past.  Articles about how inflation is racist, mental health issues, compromising net zero.  Naturally, all delivered by some reassuringly sounding team with gongs and posts/consultancies in the new <reassuring name> organisation lined up.  Plus strongly worded Ofcom letters.  Later.....lessons need to be learnt and another distraction to help things along.  There's more but the better stuff will cost! 

But then, if you're in team Klaus or just a civil servant, academic, polo, journalist, etc (funny list that) with a nice pension.....

[AyrshireBoy]

46 minutes ago, belfastchild said:

When they run a puff piece on having a cold shower using a bucket of collected rainwater Im going out to weld the front door shut and make spikes out of rebar.

If it's an electric shower makes no difference if you take a hot or cold shower as it draws the full load regardless, the dial only restricts the flow through the element. Would be nice of the msm to share that info the sadists 😂

[ThoughtCriminal]

25 minutes ago, Transistor Man said:

@ThoughtCriminal 

They have a chance: they can forge the parts. 

https://www.jsw-me.com/en/products/01-02-02.html

 

 

So you think they might be able to build this entirely themselves?

[M S E Refugee]

8 minutes ago, Phil said:

A switch to zero %  interest card for 24 months will help. Matin Lewis can advise. Sorted.

If Robert Habeck is quick he take advantage of 24 months 0% on new purchases from Sainsbury's plus Nectar points.

I bet those Greeks could rack up some serious Nectar points, the more you spend the more you save!

[ThoughtCriminal]

13 minutes ago, Axeman123 said:

It's the German credit card, so its the Krauts that need to learn...

Good point.

 

In fact, there are so many lessons that need to be learned across the whole of Europe that it's hard to know where to begin.

 

Just watched footage of 500 Eritreans and Ethiopians fighting with machetes in Germany, transporting their war to Europe. 

 

As Enoch said, those whom the gods wish to destroy they first make mad..........

[Harley]

1 hour ago, belfastchild said:

When they run a puff piece on having a cold shower using a bucket of collected rainwater Im going out to weld the front door shut and make spikes out of rebar.

Make sure to buy the right sized generator then as those grinders and welders use a lot of amps! 

[Boglet]

1 hour ago, belfastchild said:

When they run a puff piece on having a cold shower using a bucket of collected rainwater Im going out to weld the front door shut and make spikes out of rebar.

You're in Belfast - half the houses are already like that aren't they?

[Plan-b]

12 minutes ago, ThoughtCriminal said:

Just watched footage of 500 Eritreans and Ethiopians fighting with machetes in Germany, transporting their war to Europe.

Got a link? would like to see that

[Transistor Man]

19 minutes ago, ThoughtCriminal said:

So you think they might be able to build this entirely themselves?

Yes, 100%, Japan could.

one of very few who can. 

[Democorruptcy]

3 hours ago, Lightscribe said:

It really is a toss up who implodes first us or Germany.

We have a ‘service’ economy and large sections based on construction and house prices. As you say arts, leisure, retail, restaurants will all be the first to go. We could well see an exodus of Eastern Europeans once both of the above goes, once it’s obvious that this country’s going down the pan. Good luck getting fat shazza replacing them in the low paid jobs factory and picking jobs. Supply chain collapse. That’s the beauty of our government 40 year disinflation immigration and benefits policy coming home to roost.

Germany have a manufacturing economy (which should be more resilient than ours) and they are well known to have a low debt populous. They face however going into hyperinflation through energy costs which will make their supply chain will implode. Then It matters not as if they go, then it’s Italy, followed by Spain, Portugal and France.

Whats clear though is we both have a serious benefit problem. Unrest could quickly make it all unravel much faster than anticipated, especially in the cities.

 

https://rmx.news/article/europes-migration-problems-set-to-worsen-as-survey-show-more-than-half-of-young-africans-plan-to-emigrate/

 

Italy first. I remember Alan Greenspan being interviewed and he said the first thing he checked every morning was the yield on Italian debt.

Prego. Ciao.

[CannonFodder]

It may be more politically expedient to let things collapse then come in afterwards and save it.

Easier to explain to plebs why difficult decisions needed

Inflate and rob private capital, stop assets handed down and keep serfs working.

There is an assumption on here that they will try and stop it.

Plenty of hyperinflations where elites stayed in power - hungary etc.

Did well too as could mop up good assets from those with cash flow issues. Elites got richer in collapse

Best to map out thepros andcons to the elites (not the country orthe people) of each option.

 

[ThoughtCriminal]

19 minutes ago, CannonFodder said:

It may be more politically expedient to let things collapse then come in afterwards and save it.

Easier to explain to plebs why difficult decisions needed

Inflate and rob private capital, stop assets handed down and keep serfs working.

There is an assumption on here that they will try and stop it.

Plenty of hyperinflations where elites stayed in power - hungary etc.

Did well too as could mop up good assets from those with cash flow issues. Elites got richer in collapse

Best to map out thepros andcons to the elites (not the country orthe people) of each option.

 

First tweet I saw after reading your post was ex BlackRock analyst turned whistleblower saying just that.

 

 

[jamtomorrow]

34 minutes ago, Transistor Man said:

Yes, 100%, Japan could.

one of very few who can. 

UK could have been in the club too. Remember this? In terms of failures of generational decision making, this one is starting to look worse in hindsight than G. Broon parting with all that gold for some beans

https://www.theguardian.com/business/2010/dec/14/cable-axed-sheffield-forgemasters-loan

[Plan-b]

‘Obsessed with doom’: Greta Thunberg has ‘gone bust’

 

[King Penda]

2 hours ago, Lightscribe said:

You can be sure Scotland will be the first knocking on the door for more handouts. Pity they didn’t get their second referendum.

Hopefully the government will have far more to worry about (like remaining solvent themselves) than pandering to their bullshit.

Scotland by February 

 

[Transistor Man]

5 minutes ago, jamtomorrow said:

UK could have been in the club too. Remember this? In terms of failures of generational decision making, this one is starting to look worse in hindsight than G. Broon parting with all that gold for some beans

https://www.theguardian.com/business/2010/dec/14/cable-axed-sheffield-forgemasters-loan

It has been nationalised

A major reversal.

https://www.sheffieldforgemasters.com/news-and-insights/news/08/one-year-on-mod-acquisition/

[sancho panza]

9 hours ago, wherebee said:

we have a hand wash bag which we have used for months at a time in the bush.  cleans fine your basic undies, shirts, etc.  Get one.

Like this?

https://www.amazon.co.uk/Scrubba-wash-Bag-Mini-Ultralight/dp/B07V1SH69J

 

Mrs P will be impressed when the SHTF and we're living in the field and I produce one of these from under the basha.Might make the rabbit skinning bearable.

@Cattle Prod have you finished your research on gennies? What's the ebst option for the average basment dweller?

44 minutes ago, Democorruptcy said:

Italy first. I remember Alan Greenspan being interviewed and he said the first thing he checked every morning was the yield on Italian debt.

Prego. Ciao.

I thin k the Italian election Spet 25th is key here.A big win for the Brothers (led by the sister strangely) linking in with the lega and Froaz and it'#s bombs away for the Eurozone -no pun intened.

@moneyscam looks like Italy is going a bit Brexity

[moneyscam]

4 minutes ago, sancho panza said:

Like this?

https://www.amazon.co.uk/Scrubba-wash-Bag-Mini-Ultralight/dp/B07V1SH69J

 

Mrs P will be impressed when the SHTF and we're living in the field and I produce one of these from under the basha.

@Cattle Prod have you finished your research on gennies? What's the ebst option for the average basment dweller?

I thin k the Italian election Spet 25th is key here.A big win for the Brothers (led by the sister strangely) linking in with the lega and Froaz and it'#s bombs away for the Eurozone -no pun intened.

@moneyscam looks like Italy is going a bit Brexity

Although FDI do not formally seek Italexit they do want to change the constitution which implicitly subsumes itself to EU law. They are supported in this by Lega but Berlusconi's Forza Italia is firmly pro EU establishment so it will be interesting to see how this will play out given FI will very much be the junior partner of the coalition.

https://www.euractiv.com/section/politics/news/far-right-party-seeks-to-kick-eu-out-of-italian-constitution/

[HousePriceMania]

31 minutes ago, Plan-b said:

‘Obsessed with doom’: Greta Thunberg has ‘gone bust’

 

Morally or financially ?

[ThoughtCriminal]

Fuck me, this bastard just comes out with it: "it's the end of the era of abundance".

To which he might as well add, "so go and fuck yourselves".

 

Ultimately, in the end, it is "our" fault as we elect these cunts.

 

The tragedy is that people like us get swept along with the sub normal IQ masses.