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

[Chewing Grass]

Just got a letter from Equiniti regarding my ABRDN shares, which I have sat on for years since a got them when they de-mutualised. I only have a few hundred but to me it smells like somebody wants the little guys out so they can round up more shares.

I'm going to sell them as they ain't going to make me anything (too small a holding) and I've had them for 16 years.

It just smells like something is afoot.

[Lightscribe]

1 hour ago, Red Debt Redemption said:

Will you actually reach that limit and travel the world?

Will the world allow you to travel when you are ready?

Will you get the same experiences as a 20-30 year old at 50,60,70+?

Will you be fit enough health wise to travel at your limit?

Its all a gamble like anything in life. 

I find when I set limits I keep putting things off as other things come up. Deffo next year, or the next and the next because..

That’s precisely why I’m glad why I did it in my late 20’s. I was in the financial position to and at an age where I could burn the candle at both ends and in the middle at the same time. Full moon parties, drinks and ladies one night, then tracking up trails/mountains/temples or riding elephants the next etc.

Although still relevantly fit in my 40’s a bit with a sciatica here and there means I wouldn’t be able to keep to the same rapid pace today and would need a few days recover, plus £ to foreign currency ratios back then meant I lived like a king on the funds I had.

[Shamone]

4 minutes ago, Lightscribe said:

That’s precisely why I’m glad why I did it in my late 20’s. I was in the financial position to and at an age where I could burn the candle at both ends and in the middle at the same time. Full moon parties, drinks and ladies one night, then tracking up trails/mountains/temples or riding elephants the next etc.

Although still relevantly fit in my 40’s a bit with a sciatica here and there means I wouldn’t be able to keep to the same rapid pace today and would need a few days recover, plus £ to foreign currency ratios back then meant I lived like a king on the funds I had.

A salute the sun stretch first thing in the morning and last thing at night will do wonders for your sciatica.

[Lightscribe]

1 minute ago, Shamone said:

A salute the sun stretch first thing in the morning and last thing at night will do wonders for your sciatica.

It was mainly down to an old Tae Kwon Do injury, but believe it or not after years of osteopath and treatments, I had a Thai massage (not that type) by a tiny middle-aged Thai woman who made nearly made me cry in pain. Fantastic though, managed to dislodge the trapped nerve from the disc and hasn’t returned a year or so on.

[jamtomorrow]

This from the world of work just above the "automation line" is grim, predictable and fascinating.

https://www.vox.com/recode/23170900/leaked-amazon-memo-warehouses-hiring-shortage

Leaked Amazon memo warns the company is running out of people to hire

Unions might not be the tech giant’s biggest labor threat.

Amazon is facing a looming crisis: It could run out of people to hire in its US warehouses by 2024, according to leaked Amazon internal research from mid-2021 that Recode reviewed. If that happens, the online retailer’s service quality and growth plans could be at risk, and its e-commerce dominance along with it.

Raising wages and increasing warehouse automation are two of the six “levers” Amazon could pull to delay this labor crisis by a few years, but only a series of sweeping changes to how the company does business and manages its employees will significantly alter the timeline, Amazon staff predicted.

...

The report warned that Amazon’s labor crisis was especially imminent in a few locales, with internal models showing that the company was expected to exhaust its entire available labor pool in the Phoenix, Arizona, metro area by the end of 2021, and in the Inland Empire region of California, roughly 60 miles east of Los Angeles, by the end of 2022. Amazon’s internal report calculated the available pool of workers based on characteristics like income levels and a household’s proximity to current or planned Amazon facilities; the pool does not include the entire US adult population.

...

The leaked internal findings also serve as a cautionary tale for other employers who seek to emulate the Amazon Way of management, which emphasizes worker productivity over just about everything else and churns through the equivalent of its entire front-line workforce year after year.

In the past, that churn wasn’t a problem for Amazon — it was even desirable at some points. Amazon founder and former CEO Jeff Bezos saw his warehouse workforce as necessary but replaceable, and feared that workers who remained at the company too long would turn complacent or, worse, disgruntled, according to reporting by the New York Times. But now, as the internal report Recode reviewed shows, some inside Amazon are realizing that strategy won’t work much longer,

...

 

[Chewing Grass]

8 minutes ago, jamtomorrow said:

This from the world of work just above the "automation line" is grim, predictable and fascinating.

https://www.vox.com/recode/23170900/leaked-amazon-memo-warehouses-hiring-shortage

Leaked Amazon memo warns the company is running out of people to hire

Unions might not be the tech giant’s biggest labor threat.

Amazon is facing a looming crisis: It could run out of people to hire in its US warehouses by 2024, according to leaked Amazon internal research from mid-2021 that Recode reviewed. If that happens, the online retailer’s service quality and growth plans could be at risk, and its e-commerce dominance along with it.

Raising wages and increasing warehouse automation are two of the six “levers” Amazon could pull to delay this labor crisis by a few years, but only a series of sweeping changes to how the company does business and manages its employees will significantly alter the timeline, Amazon staff predicted.

...

The report warned that Amazon’s labor crisis was especially imminent in a few locales, with internal models showing that the company was expected to exhaust its entire available labor pool in the Phoenix, Arizona, metro area by the end of 2021, and in the Inland Empire region of California, roughly 60 miles east of Los Angeles, by the end of 2022. Amazon’s internal report calculated the available pool of workers based on characteristics like income levels and a household’s proximity to current or planned Amazon facilities; the pool does not include the entire US adult population.

...

The leaked internal findings also serve as a cautionary tale for other employers who seek to emulate the Amazon Way of management, which emphasizes worker productivity over just about everything else and churns through the equivalent of its entire front-line workforce year after year.

In the past, that churn wasn’t a problem for Amazon — it was even desirable at some points. Amazon founder and former CEO Jeff Bezos saw his warehouse workforce as necessary but replaceable, and feared that workers who remained at the company too long would turn complacent or, worse, disgruntled, according to reporting by the New York Times. But now, as the internal report Recode reviewed shows, some inside Amazon are realizing that strategy won’t work much longer,

...

 

Need more immigrants.

[DurhamBorn]

1 hour ago, Chewing Grass said:

Just got a letter from Equiniti regarding my ABRDN shares, which I have sat on for years since a got them when they de-mutualised. I only have a few hundred but to me it smells like somebody wants the little guys out so they can round up more shares.

I'm going to sell them as they ain't going to make me anything (too small a holding) and I've had them for 16 years.

It just smells like something is afoot.

I expect them to launch a buyback very soon,then much more over the next few years,i think they have about £1.5billion spare capital if the offload the India assets and i think most of it will go on buybacks and some bolt on buys maybe.I expect we might see a big deal in the sector.L+G go for HL,M+G go for Abrdn ?.I think the wealth managers will want to merge with the platforms.AJ Bell + St James place? .The smaller ones like Jupiter etc you would expect to merge together over time as well.If i was L+G or M+G id use my massive capital generation to go for HL now while they are down.UK has a chance to merge up 2 or 3 big players here and then expand into Europe etc.Question is will they take it,or will the government mess it up again like they did with the gambling companies.

[DurhamBorn]

26 minutes ago, jamtomorrow said:

This from the world of work just above the "automation line" is grim, predictable and fascinating.

https://www.vox.com/recode/23170900/leaked-amazon-memo-warehouses-hiring-shortage

Leaked Amazon memo warns the company is running out of people to hire

Unions might not be the tech giant’s biggest labor threat.

Amazon is facing a looming crisis: It could run out of people to hire in its US warehouses by 2024, according to leaked Amazon internal research from mid-2021 that Recode reviewed. If that happens, the online retailer’s service quality and growth plans could be at risk, and its e-commerce dominance along with it.

Raising wages and increasing warehouse automation are two of the six “levers” Amazon could pull to delay this labor crisis by a few years, but only a series of sweeping changes to how the company does business and manages its employees will significantly alter the timeline, Amazon staff predicted.

...

The report warned that Amazon’s labor crisis was especially imminent in a few locales, with internal models showing that the company was expected to exhaust its entire available labor pool in the Phoenix, Arizona, metro area by the end of 2021, and in the Inland Empire region of California, roughly 60 miles east of Los Angeles, by the end of 2022. Amazon’s internal report calculated the available pool of workers based on characteristics like income levels and a household’s proximity to current or planned Amazon facilities; the pool does not include the entire US adult population.

...

The leaked internal findings also serve as a cautionary tale for other employers who seek to emulate the Amazon Way of management, which emphasizes worker productivity over just about everything else and churns through the equivalent of its entire front-line workforce year after year.

In the past, that churn wasn’t a problem for Amazon — it was even desirable at some points. Amazon founder and former CEO Jeff Bezos saw his warehouse workforce as necessary but replaceable, and feared that workers who remained at the company too long would turn complacent or, worse, disgruntled, according to reporting by the New York Times. But now, as the internal report Recode reviewed shows, some inside Amazon are realizing that strategy won’t work much longer,

...

 

Happened here with a few factories who used to hire every year on NMW and treat workers like shit.Ok when bennies were crap and few jobs.Not now,now they cant get staff,too many who have been there wont go back etc.Wages have gone up,but they advertise every week,same as Lidl for their warehouse,none stop advert because they lose staff so often.Iv always thought Amazon was a sitting duck for cycle change and its starting to look like it in all areas.

[JMD]

7 hours ago, jamtomorrow said:

Update from Dr. Tim further crystallising macro themes of this thread: https://surplusenergyeconomics.wordpress.com/

He brings "hierarchy of needs" into play in the context of the so-called discretionary economy, and then goes on to point out how the discretionary economy is - effectively - heavily leveraged on affordable essentials. The unwind of that leverage is going to be devastating.

What I want to understand now is how this energy perspective interacts with the technology perspective, because the technology genie isn't going back in the bottle. Semiconductors and AI in its various forms aren't about to be undiscovered, and any "fun times" coming in Taiwan will look like a speed bump in the grand sweep.

China is often talked of as today's factory of the world, but that concentration of "productive" labour could just as easily be the final burning out of the wave that started at Arkwright's mill 250 years ago. The factories of the next wave will be built on AI and automation, and increasingly devoid of human presence.

The energy crunch doesn't mean we "regress" to some previous socio-economic model where those of us that make it through the initial unravelling just "go back to the fields", or some such. AI and automation will sooner or later accomplish most tasks better than a human at lower cost (net energy input).

And so what keeps me up at night: how will I or my children or my grandchildren stake a claim to the fruits of such an economy? It won't be based on our contribution (i.e. "work") because we'll be out-competed by the machines at every opportunity.

Put another way: it's not *just* the energy crunch (although that's certainly bad enough) - it's the energy crunch rolling over the top of the economy just as the machines *really* start getting their teeth into the rump that seems historically toxic at this point.

Indeed, how do we 'stake a claim on the fruits of the future economy'?... Many posts today relating I think to that root question, and how governments may/will soon be attempting to control (even more) our lives.                                                                        For the first time in history, most of us humans will not be able to leverage our - physical or intellectual - capacity/skills in return for a slice of the economic pie. The way I see it is that automation and AI are coming. However the BIG DECEIT is that the proper relevant conversations have not been had.                                                                                                                                                                                                                    I think the crux of it is the economy is turning from the physical into the digital - no, I'm not going to debate cbdc's or crypto! Imo the tptb will seek to implement a new system of control, to replace the debt/job control (slavery?) model, and cbds's may well be their big idea for achieving such continued control. But the thing is I don't think the tech is good enough. For example self driving cars are up to 20 years away (although will have motorway driving before then); and Track-and-Trace, which I think was a pilot for introducing strict state surveillance, was a complete failure.                                                                                                                                             Anyway, back to the emerging digital realm. I have previously posted about Jarrod Lanier, he is an ex tech entrepreneur hippy type. He retired early, health reasons I believe, but now spends his time travelling/lecturing/warning of the dangers of an impending tech state fascism. He considers himself a tech outsider because of the disagreements he's had with the tech giants. But the reason I mention Lanier is that he is a deep thinker and has attempted to come up with his own solutions and has written several books about this. His main idea is that we should 'own our data' - Not in some 'wet'  philosophical sense, but in terms of the individual having the ability of being completely private if they so wish, or alternatively they could sell their digital data to companies and earn income. His thesis is that however sophisticated and powerful algorithms/machines become, they can do nothing useful without the 'asset' of data.                                                                                                    The subject is of course far more expansive than I describe here, but ultimately how we 'enable the citizen' is crucial, and things like UBI payments and other state welfare 'dependency projects' will only have the disastrous and opposite effect.... None of this is on the political agenda yet, and perhaps it never will be, but food for thought I think?

[working woman]

4 hours ago, MMax said:

I found your post uplifting and it gave me a little boost....However, I resent the TPTB managed to control me and impinge on my freedoms - health care and travel. 

Yes most people I speak to say they feel robbed of two years of their life. Whilst I had to cancel a trip to Brazil, on the flip side, forced to travel closer to home, I went to Brittany and discovered the pink granite coast and the beautiful Rame Peninsular in East Cornwall. Discoveries I can thank Covid for which  I hope to go visit  again. Maybe focus on good things, if any, that came out of it. I'm sure with time our perspectives will change. It was a difficult time we all need to heal from. 

 

2 hours ago, Harley said:

Wrong, that's called a Lady...

Loved that thank you. 

 

2 hours ago, DurhamBorn said:

50 now and you start to notice your going invisible,where at 30 id get the look and smile of women every day now its much rarer.

Yes, a well known experience for women in their 50's. I am fully embracing my new superpower as an invisible woman, I think it may come in handy at some point if I need to fly under the radar.

My wierdest experience in my 50's, thinking I was invisible to men, was happily sitting alone in a coffee shop, to meet a friend, and realising that several of the men there in their 60's and 70's were giving me the eye. Noooooooo! It felt so wrong as they were old enough to be my Dad.  I even once caught my 80 year old FIL checking out my rear in my jeans. 

So even if the younger women are less interested, you may become aware of older ladies giving you the eye as to them you would be a hot young thing

 

 

 

 

[Democorruptcy]

6 hours ago, Hunty said:

How’s everyone, promise I will not mention Polymetal, see, can’t keep my word. Funny; following on from this morning’s theme on this wonderful thread.
I come from a big family, I went out last night with one of my brothers, not seen him for a while as he lives quite away from me, so I decided to make the effort and go north to meet him. He lives in a seaside town, I did not realise but as you age it is quite nice to have the ocean on your doorstep. As he state he gets a free day out come holiday every day.
He is 54 in November, quite an intelligent chap, but never really used it in any way to further his quality of life. He would disagree, and make out his intelligence has carved out the path he took.
In 2003, he was talking about the stuff mentioned on here this morning, electronic currency, control, ID, plandemics. I used to make fun of him, but to his credit, he used to say I’m getting out of all of this shit. The rat race, just going to drift and use up my life’s credits as I wish to choose. By no means is he a hippy or a scrounger. To be fair he has never took a penny of the state in all his years.
At 29 he had his house paid for, worked his balls off from leaving school, I’m guessing he became disorientated in his later twenties, I seen a change in his work habits. He always said no kids, no wife, hence now I’m guessing many of you would think poor choice as life could become lonely in your fifties. I could not live without my kids, just travelled thousands of miles to see each of them.
Anyway at 30 he jacked in a £30k a year job, yep £30k 25 years ago. He signed up for an Engineering degree, not because he wanted to become an engineer but because it interested him. Got it all free, took out no loans and funded the full four years, Msc included out of his savings. He graduated, and took a job, lasted 12 months, then thought nah. So then he managed to get a four year scholarship to carry out PhD research, yep another four years of f--king around as I used to say. Did that, and took another year out on the money he had saved from his scholarship. By now he was nearly 40, and still owned his house debt free. A degree, Masters and PhD and no intention to use them.
Then he really did surprise me, out of the blue he took a job, I thought umm, he has gone back on his word and we lost touch for a while. Next I hear after 7 months he had quit, and his house was up for sale. Anyway we met up at the time and he was talking about emigrating to New Zealand, and so he did, he lasted over there six years, got his citizenship, never worked over there; never claimed a cent, just lived off his house sale money. Then on returning back to the UK I think around seven years ago he has lived in this seaside town spending the rest of his house sale money.
Meeting up with him last night, he is down to his last few grand, he has paid rent since selling his house, six years rent in New Zealand and the rest her in the UK. I asked him if he regretted his choices. He said I have just spent the best years of my life living in a way most will never see or spend in retirement. The years ahead are in health terms never going to be replicated. I will not allow the system to rob me of my healthy years in return of my hard labour.
I said what are you going to do now, no house, no work history since turning 30 apart from two odd one or so year stints in two companies so more or less 22 years of nothing. He said bro, I have no idea until the money runs out. But I look out at the world; I told you all those years back that things will change. Once they let credit run and run in 2003, things were never going back to normal. Look what has happened since with your roof above your head prices, look at incomes, look at the quality of life; what you get back off the state for your hard earned income.
He said if I go in my sleep tonight I have no regrets. I bet not many 54 year old men or women can say that, I can. Got up this morning read the last few pages of this thread and thought about his choices, my choices, money, experiences etc etc.
I’m wondering how many people are really happy with their choices looking back at mid fifty today. My generation were indoctrinated to think, work, house pension, more wor, more money, bigger house, bigger pension, better longer retirement. And so on. Look now, look what’s happening to society, those rules can no longer apply, everything seems to be turned on its head. Do not work, do not want for anything, just come to the state we will provide what you need and toe the line, just do not ask questions and want for anything. Anyway my fingers are hurting now, apologies for the long post, but if you got this far, well done and take care all. Told you I would not mention Polymetal again.
 

A lot of that resonates with me, tell him to have a look at betting exchanges.

[JMD]

4 hours ago, Lightly Toasted said:

The thing that jumps out for me is how un-fluent he is.

Apparently his career included a spell as an attorney -- his clients would have been screwed if their case came down to a "fire and brimstone" summing up on the final day in court 

But mainly, what aspect of "American exceptionalism" will make the rest of the world prefer an American [now known to be untrustworthy] CDBC for their reserves?

Too sayings come to mind: 1. clutching at straws 2. power grows from the barrel of a gun [and the resources and capability to manufacture it].

Yep, a major statement-speech by Powell, but sounded more like a 12 year old on school speech day! These so called 'elites' are not really elites are they? And a main reason why I think there is no secret cabal lurking behind these guys... If there was one, they would sure as hell pay for inspiring and intelligent people to front-up their evil plans, and not these bunch of inbreds!!

[Democorruptcy]

5 hours ago, DurhamBorn said:

I only sold all of Repsol and top sliced BP.I still expect much more over the cycle,but im moving along my roadmap to mid cycle and i see areas to broaden out and maybe even outperform energy from here.Anyone needs to understand though i look at my portfolio from March 20 as thats when i was around 75% out of the market and by June was fully invested.Iv doubled my families liquid investments in that time.I have zero fear of drawdowns and if i look back my biggest winners over the last few years including back to the miners run in the years before Covid they all went through bottom ladder and started their runs from -15% to -34%.

I always find you need to step back and think about things.Not exact timing,nobody can do that,but consider forward.Its a brutal time,CBs and governments have destroyed steady investment etc,its criminal,but im very happy with some brutal pullbacks in areas i want.Inflation is what everyone should fear the most,because it will take all peoples savings,its made by governments and CBs and its designed to move wealth from one place to another and that place isnt bubble areas,houses or crypto.

Is that the laddering tactic in tatters? Might as well have waited for a crash and just bought at the bottom ladder?

[Yadda yadda yadda]

52 minutes ago, JMD said:

Indeed, how do we 'stake a claim on the fruits of the future economy'?... Many posts today relating I think to that root question, and how governments may/will soon be attempting to control (even more) our lives.                                                                        For the first time in history, most of us humans will not be able to leverage our - physical or intellectual - capacity/skills in return for a slice of the economic pie. The way I see it is that automation and AI are coming. However the BIG DECEIT is that the proper relevant conversations have not been had.                                                                                                                                                                                                                    I think the crux of it is the economy is turning from the physical into the digital - no, I'm not going to debate cbdc's or crypto! Imo the tptb will seek to implement a new system of control, to replace the debt/job control (slavery?) model, and cbds's may well be their big idea for achieving such continued control. But the thing is I don't think the tech is good enough. For example self driving cars are up to 20 years away (although will have motorway driving before then); and Track-and-Trace, which I think was a pilot for introducing strict state surveillance, was a complete failure.                                                                                                                                             Anyway, back to the emerging digital realm. I have previously posted about Jarrod Lanier, he is an ex tech entrepreneur hippy type. He retired early, health reasons I believe, but now spends his time travelling/lecturing/warning of the dangers of an impending tech state fascism. He considers himself a tech outsider because of the disagreements he's had with the tech giants. But the reason I mention Lanier is that he is a deep thinker and has attempted to come up with his own solutions and has written several books about this. His main idea is that we should 'own our data' - Not in some 'wet'  philosophical sense, but in terms of the individual having the ability of being completely private if they so wish, or alternatively they could sell their digital data to companies and earn income. His thesis is that however sophisticated and powerful algorithms/machines become, they can do nothing useful without the 'asset' of data.                                                                                                    The subject is of course far more expansive than I describe here, but ultimately how we 'enable the citizen' is crucial, and things like UBI payments and other state welfare 'dependency projects' will only have the disastrous and opposite effect.... None of this is on the political agenda yet, and perhaps it never will be, but food for thought I think?

I agree that people should have autonomy and ownership of everything personal to them. Your data is yours and my data is mine. Under no circumstances should I be compelled to share it. Where do you draw the limits? One obvious first step in compulsion is for crossing borders (a benefit for technocrats from Brexit?). In my view a photograph and a name are sufficient. This is not the view of either the EU or the USA, where fingerprints or other data will be taken.

Probably time to use buzz phrases from the left, such as 'agency', against these projects. You don't have agency if you don't control your personal data.

[Yadda yadda yadda]

2 minutes ago, Democorruptcy said:

Is that the laddering tactic in tatters? Might as well have waited for a crash and just bought at the bottom ladder?

How do you know when the bottom is? Anyone that can answer that question reliably will be very, very rich.

[Pip321]

11 minutes ago, Yadda yadda yadda said:

How do you know when the bottom is? Anyone that can answer that question reliably will be very, very rich.

I couldn’t find the bottom with both hands. 🥳

[Democorruptcy]

6 minutes ago, Yadda yadda yadda said:

How do you know when the bottom is? Anyone that can answer that question reliably will be very, very rich.

He said all his biggest wins had come from them going through the bottom of his ladders. That means if his target buy price had been that one price, he would have bought them all at the cheapest price and made more. I think before he's said ladders each set at -7%, so -28% was the bottom signal. 

 

[Calcutta]

Had Al-Jazeera on whilst doing the dishes and they're covering a TUC protest in London, against inflation it seems. 

The people they spoke to were doing the usual complaining about nurses using food banks and needing inflation linked pay rises. I'm just wondering, is anybody there asking for higher interest rates? 

[Bricormortis]

2 hours ago, jamtomorrow said:

This from the world of work just above the "automation line" is grim, predictable and fascinating.

https://www.vox.com/recode/23170900/leaked-amazon-memo-warehouses-hiring-shortage

Leaked Amazon memo warns the company is running out of people to hire

Unions might not be the tech giant’s biggest labor threat.

Amazon is facing a looming crisis: It could run out of people to hire in its US warehouses by 2024, according to leaked Amazon internal research from mid-2021 that Recode reviewed. If that happens, the online retailer’s service quality and growth plans could be at risk, and its e-commerce dominance along with it.

Raising wages and increasing warehouse automation are two of the six “levers” Amazon could pull to delay this labor crisis by a few years, but only a series of sweeping changes to how the company does business and manages its employees will significantly alter the timeline, Amazon staff predicted.

...

The report warned that Amazon’s labor crisis was especially imminent in a few locales, with internal models showing that the company was expected to exhaust its entire available labor pool in the Phoenix, Arizona, metro area by the end of 2021, and in the Inland Empire region of California, roughly 60 miles east of Los Angeles, by the end of 2022. Amazon’s internal report calculated the available pool of workers based on characteristics like income levels and a household’s proximity to current or planned Amazon facilities; the pool does not include the entire US adult population.

...

The leaked internal findings also serve as a cautionary tale for other employers who seek to emulate the Amazon Way of management, which emphasizes worker productivity over just about everything else and churns through the equivalent of its entire front-line workforce year after year.

In the past, that churn wasn’t a problem for Amazon — it was even desirable at some points. Amazon founder and former CEO Jeff Bezos saw his warehouse workforce as necessary but replaceable, and feared that workers who remained at the company too long would turn complacent or, worse, disgruntled, according to reporting by the New York Times. But now, as the internal report Recode reviewed shows, some inside Amazon are realizing that strategy won’t work much longer,

...

 

I saw the tail end of a documentary about a massive warehouse distributing breakfast cereal all over the world, fully automated. 4 staff.

[Chewing Grass]

Just now, Bricormortis said:

I saw the tail end of a documentary about a massive warehouse distributing breakfast cereal all over the world, fully automated. 4 staff.

So who is left to pay wages for people to buy Breakfast Cereal?

[Bricormortis]

46 minutes ago, Yadda yadda yadda said:

How do you know when the bottom is? Anyone that can answer that question reliably will be very, very rich.

Its 50% below my entry point.

[Bricormortis]

6 minutes ago, Chewing Grass said:

So who is left to pay wages for people to buy Breakfast Cereal?

Cereal is being replaced by insect rations. Like shredded wheat but better if you dont mind the odd leg sticking out. Goes snap crakle and pop like a goodun

 

[Yadda yadda yadda]

1 hour ago, Democorruptcy said:

He said all his biggest wins had come from them going through the bottom of his ladders. That means if his target buy price had been that one price, he would have bought them all at the cheapest price and made more. I think before he's said ladders each set at -7%, so -28% was the bottom signal. 

 

There have been others where only one or two ladders have been reached. Others get properly Macbethed. The ladders are there because we don't know where the bottom will be. It takes a lot of the stress out as you average down. Not a strategy for gamblers or the impatient.

[Democorruptcy]

2 minutes ago, Yadda yadda yadda said:

There have been others where only one or two ladders have been reached. Others get properly Macbethed. The ladders are there because we don't know where the bottom will be. It takes a lot of the stress out as you average down. Not a strategy for gamblers or the impatient.

If you want to spread your money across smaller winners, instead of double up on those that had it the target bottom and were the biggest winners, that's fine. Each to their own. It's only money.

[Bobthebuilder]

23 hours ago, DurhamBorn said:

The Macc Lads.

Never had you down as a Macc Lads fan Mr Durham. One of the best live bands I have ever seen.

She'll get fed up of buffets and one day she'll come back,
'cause she knows that all the real men live in Macc,
She'll tell me that she loves me and she hated livin' with toffs,
So I'll slip her a length and then I'll tell her,
Fuck off.
I used to go out with her 'cause she cooked a nice bit of grub,
She may have been a beauty queen but I'd rather go down the pub.