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

[Harley]

4 hours ago, DurhamBorn said:

If the west falls id blame the media more than anyone.They never look at the issues from an open mind.Take these 10% increases in bennies.I have no problem with them showing fat Sharon who doesnt work moaning shes skint.However they should then go something like this,

"Sharon worked for 4 months after leaving school,but then had her child to a man she isnt with now and hasnt worked since.Including Housing Benefit and free school meals she gets xxx amount without having to work.She claims she doesnt have childcare yet her mother lives over the road and doesnt work herself claiming for some disability,though she looks in decent health for her age.

The other side of this is Paul here.Paul works in the local warehouse.He too is struggling,even though hes is working 48 hours a week.His rent is very high due to people like Sharon who gets theirs paid forcing up rents,ironic as its out of his tax.If Sharon is to get more for doing nothing,Paul must lose more by paying more tax.In affect Sharon is consuming Pauls work.

Then there is Sue.Sue worked for 40 years in the local factory.She saved for her retirement.She is struggling.The inflation partly caused by Sharon consuming,but never producing means her lifetimes savings are being inflated away.

The cry is for more free money for Sharon,but its not free.To give Sharon more Paul and Sue need to lose more than they already do.For all three to improve their incomes the best solution would be for Sharon to get into a job and off benefits,lifting her up,and then stopping Paul and Sue working harder or becoming poorer because their hard work is being split with those who cant,or simply wont work.Government seems all about  Sharon,but perhaps the real victims are the ones you never hear about paying for it."

This is Durhamborn reporting for the BBC

Waiting for the useful idiots to get fecked after Paul....

[Loki]

4 hours ago, DurhamBorn said:

If the west falls id blame the media more than anyone.They never look at the issues from an open mind.Take these 10% increases in bennies.I have no problem with them showing fat Sharon who doesnt work moaning shes skint.However they should then go something like this,

"Sharon worked for 4 months after leaving school,but then had her child to a man she isnt with now and hasnt worked since.Including Housing Benefit and free school meals she gets xxx amount without having to work.She claims she doesnt have childcare yet her mother lives over the road and doesnt work herself claiming for some disability,though she looks in decent health for her age.

The other side of this is Paul here.Paul works in the local warehouse.He too is struggling,even though hes is working 48 hours a week.His rent is very high due to people like Sharon who gets theirs paid forcing up rents,ironic as its out of his tax.If Sharon is to get more for doing nothing,Paul must lose more by paying more tax.In affect Sharon is consuming Pauls work.

Then there is Sue.Sue worked for 40 years in the local factory.She saved for her retirement.She is struggling.The inflation partly caused by Sharon consuming,but never producing means her lifetimes savings are being inflated away.

The cry is for more free money for Sharon,but its not free.To give Sharon more Paul and Sue need to lose more than they already do.For all three to improve their incomes the best solution would be for Sharon to get into a job and off benefits,lifting her up,and then stopping Paul and Sue working harder or becoming poorer because their hard work is being split with those who cant,or simply wont work.Government seems all about  Sharon,but perhaps the real victims are the ones you never hear about paying for it."

This is Durhamborn reporting for the BBC

Print that, Telegraph wankers

[Joncrete Cungle]

3 minutes ago, Loki said:

Print that, Telegraph wankers

They should work out and publish how much some of these whinging bennie whales have been given tax and work free over the past 10, 15 or 20 years. Some of the figures will be mind blowing!

[Chewing Grass]

1 hour ago, M S E Refugee said:

Biden declares US energy emergency https://www.rt.com/news/556722-biden-declares-energy-emergency/

I always thought the US had more energy than it knew what to do with.

Bunch of wankers.

However, our wankers are no better.

The writing was on the cards in the UK as soon as they got rid of the CEGB (and hence any energy policy), flogged the generating units off and expected private investment to flood in whilst simultaneously throwing green legislation at everything.

Cunts, all of them.

p.s. I work in the energy industry and wouldn't spit on it anymore.

[BadAlchemy]

3 minutes ago, Loki said:

Print that, Telegraph wankers

I was going to ask them more politely... appeal to their professionalism etc. But yeah, whatever... come on all you so called journalists reading this site... for once cover the FULL story (as summarized above) will ya! Dont just follow the narrative you are given. You might even have the power to prevent us all ( yourselves included) getting sucked down the financial plug hole here. You just need to find your backbones and your balls. Do you think you can you do that?

[Yellow_Reduced_Sticker]

3 hours ago, Cattle Prod said:

You know I'd almost forgotten that. I remember that men (it was all men round me) were ashamed to be seen in the dole queue, they'd look down or hide their faces with their newspaper if us children were passing in case they were your mate's Da. Especially as they had the poor buggers in the papers or the news every day. I don't remember them being slagged off or taunted though, it was their own shame, they wanted to work. Very different now. I suppose the state saw that and thought "let's make them dependent on us so that they want this. That'll justify the gravy train for ever more".

 

YEP...Bang on!

 

I was doing my engineering apprenticeship at this time, during the day-release at college, someone every other week was getting made redundant, BUT there was NO talk of dole, it was get on ya bike and get knocking on companies doors or going into another trade.

 

TV Highlight of the week was: Boys From The Black Stuff with Yozzer Hughes "Gis a job, I can do that!"

 

The pathetic BBC should repeat this drama series, but what a hope as it may upset barrel-necks Sharon & Tim, who ffs will need special trauma bennies because of watching it!

 

P.S - BRING back Thatcher, she'd sort this country out!

 

[Phil]

11 minutes ago, Yellow_Reduced_Sticker said:

 

YEP...Bang on!

 

I was doing my engineering apprenticeship at this time, during the day-release at college, someone every other week was getting made redundant, BUT there was NO talk of dole, it was get on ya bike and get knocking on companies doors or going into another trade.

 

TV Highlight of the week was: Boys From The Black Stuff with Yozzer Hughes "Gis a job, I can do that!"

 

The pathetic BBC should repeat this drama series, but what a hope as it may upset barrel-necks Sharon & Tim, who ffs will need special trauma bennies because of watching it!

 

P.S - BRING back Thatcher, she'd sort this country out!

 

Great series and tough times. Probably need some more of this medicine to get ride of all this woke rubbish. They were happy days looking back. Skint, home brew, proper bands, proper mates and no face ache. In hind sight, Thatcher was a c**t, but I’d swap her for the current dross.

[King Penda]

1 hour ago, Joncrete Cungle said:

They should work out and publish how much some of these whinging bennie whales have been given tax and work free over the past 10, 15 or 20 years. Some of the figures will be mind blowing!

Indeed but how many realise it’s a trap which could actually get a lot worse yet .

[working woman]

We will know a journalist has been reading this entertaining thread  if we see a best selling book in the style of a steamy Jilly Cooper novel, with a title along the lines of  "Stockmarkets and  Tumbles" or "Macros and Massages". 

Come on journalist, fess up, you are only here for the hilarious tales of romantic adventures............

[DurhamBorn]

1 hour ago, working woman said:

We will know a journalist has been reading this entertaining thread  if we see a best selling book in the style of a steamy Jilly Cooper novel, with a title along the lines of  "Stockmarkets and  Tumbles" or "Macros and Massages". 

Come on journalist, fess up, you are only here for the hilarious tales of romantic adventures............

Leads,Lags,Slags and Fags.

 

[mcdongle]

12 hours ago, Noallegiance said:

According to this 15% of Venezuelan output is joint ventures with Russia.

 

https://www.bloomberg.com/news/articles/2022-03-11/russian-oil-rigs-in-venezuela-complicate-u-s-talks-with-maduro

[WICAO]

The Reserve Bank of Australia have just raised interest rates 0.5% to 0.85% while staring at official inflation figures of 5.1% and expecting that to go higher.  Behind the curve anyone...

I'm doing my best, as always, to reducing my personal inflation to deflation levels.  Year to date my personal inflation is at -2.9% so doing ok so far.  Food is the big one for me though at +20.4% so plenty of work to address that coming up.

[wherebee]

1 hour ago, WICAO said:

The Reserve Bank of Australia have just raised interest rates 0.5% to 0.85% while staring at official inflation figures of 5.1% and expecting that to go higher.  Behind the curve anyone...

I'm doing my best, as always, to reducing my personal inflation to deflation levels.  Year to date my personal inflation is at -2.9% so doing ok so far.  Food is the big one for me though at +20.4% so plenty of work to address that coming up.

The papers in Australia are calling it 'aggressive'.  fucking shills.

[JohnnyB]

Any thoughts as to why the EU still holding out with no IR increases whilst the Anglosphere seems to be panicking somewhat?

[wherebee]

5 minutes ago, JohnnyB said:

Any thoughts as to why the EU still holding out with no IR increases whilst the Anglosphere seems to be panicking somewhat?

it's a tuesday.  they are still recovering from a weekend fucking their mistresses on taxpayer funded hotel breaks in Geneva.

[WICAO]

39 minutes ago, wherebee said:

The papers in Australia are calling it 'aggressive'.  fucking shills.

Aggressive, don't make me laugh.  They sat on their arses and just watched house prices rise by over 30% in a year and did nothing.  Hopefully, for the sake of the young the piper now gets paid.

[Plan-b]

26 minutes ago, wherebee said:

it's a tuesday.  they are still recovering from a weekend fucking their mistresses on taxpayer funded hotel breaks in Geneva.

Well, not all of them..  

[snaga]

1 hour ago, JohnnyB said:

Any thoughts as to why the EU still holding out with no IR increases whilst the Anglosphere seems to be panicking somewhat?

because Germany needs a weak Euro else their exports collapse? just speculation.

EU policy always seems to lag a year or so behind the US, whether it's QE stimulus or rate changes.

[Axeman123]

1 hour ago, JohnnyB said:

Any thoughts as to why the EU still holding out with no IR increases whilst the Anglosphere seems to be panicking somewhat?

Anglosphere tends to have decisive systems of government, relatively speaking. Evil and incompetent politicians, of course, but when they finally get their heads out of their arses they can at least act quickly.

Rest of the old world (and generally the associated former colonies) tends to have total gridlock by default, with fragile coalitions and dozens of main political parties the norm. The only way forward for the EU will either be radical change to central control, or fragmentation. 

[Axeman123]

28 minutes ago, Plan-b said:

Well, not all of them.. 

I was going to say adult/human/female, probably pick one or maybe two...

[Onsamui]

8 minutes ago, Axeman123 said:

Anglosphere tends to have decisive systems of government, relatively speaking. Evil and incompetent politicians, of course, but when they finally get their heads out of their arses they can at least act quickly.

Rest of the old world (and generally the associated former colonies) tends to have total gridlock by default, with fragile coalitions and dozens of main political parties the norm. The only way forward for the EU will either be radical change to central control, or fragmentation. 

European Debt Crisis Explained | Armstrong Economics  short video

European Debt Crisis Unfolding on Target | Armstrong Economics short read

 

[geordie_lurch]

14 minutes ago, Onsamui said:

European Debt Crisis Explained | Armstrong Economics  short video

Incredible that video clip was first aired 12 years ago and obviously the sums involved have increased MASSIVELY since then

[geordie_lurch]

A good article on Zerohedge here specifically talking about "Ticking Timebomb": 500,000 UK Small Businesses Could Imminently Go Bust via a Radio 4 interview with the Federation of Small Businesses (FSB) chairman which I don't remember anyone else mentioning yet. Emphasis added by me...

----

As a stagflationary storm looms over the UK economy, the Federation of Small Businesses (FSB) chairman warned of a tsunami of small business closings without new support packages from the government. 

FSB chairman Martin McTague, recently told BBC Radio 4's Today, "there is still a massive problem with small businesses. They are facing something like twice the rate of inflation for their production prices, and it's a ticking timebomb. They have got literally weeks left before they run out of cash and that will mean hundreds of thousands of businesses, and lots of people losing their jobs."

McTague referred to the Office for National Statistics (ONS) data, showing that 2 million (or about 40%) of the UK's small businesses had less than three months of cash in reserves to support operations. He noted that 10% (or 200,000) were in grave danger, and 300,000 only had a few weeks of cash left. 

"It is a very real possibility because … they don't have the cash reserves. They don't have any way they can tackle this problem," McTague said. 

FSB chairman's warning comes as April UK inflation hit 9%, the highest level since 1982. Inflation has been widely sparked not just by loose monetary policy conditions during the virus pandemic but now soaring energy costs as Europe tries to ween itself off Russian fossil fuels and monetary tightening by the central bank. 

McTague gave one example of a hotel owner in Scarborough, a resort town on England's North Sea coast, which had profits wiped out because soaring power bills were five times higher than normal levels. 

"They weren't able to trade any longer without essentially trading at a loss and therefore damaging the future of their business and everybody that worked for them," he said. 

Soaring inflation and faltering growth is a perfect recipe for a stagflationary macro backdrop that is already crushing small businesses and households. ONS data showed the economy contracted by .1% in March, and the economy appears to be sliding into what could be the beginning of a recession. 

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[DurhamBorn]

Another private equity bid this time for Biffa. @Harley predicted years ago on here that "they" would take all cash producing assets private so the little man would be left with nothing to invest in,but government bonds and hopeless themes.

 

[Bricormortis]

Could someone recap for me on what was being said about the amount of economically inactive / benefits claimants up thread please ?

Was it 20% of the working age population is not working...or 20% of the population of working age is in reciept of a benefit. ?