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

[Barnsey]

1 minute ago, M S E Refugee said:

Most of the Vaccinated retards I work with think it's unreasonable to expect a payrise that matches inflation.

What is this f***ing sense of charity everyone has? This belief of austerity amongst workers? Those at the top who chuck big sums of money at the MSM to keep everyone thinking there's only so much to go round for the little people must be laughing their cashmere socks off.

[Lightly Toasted]

4 hours ago, Lightscribe said:

It a prime example of what happens when the ‘woke’ culture gets embedded from the top down into the management structure. It was reported and highlighted multiple times. Any coverups should be re-trialed at court if the officers are retired. 
In some of the smaller county forces the senior leadership (like in this case) was so desperate to save face in promoting community cohesion than dealing with the basis of what they’re there for, policing and crime. Ultimately it’s those who are most protected in the senior decision making who need to face trial.

Not all are tarred with the same brush however. Larger forces have specific teams, that deal exactly with these types of crime, regardless of any political factors. There’s proactive teams, overnight high risk takedowns and fast time warrants busting doors down you name it. It just doesn’t make the papers (which again can be influenced on what they cover).

It went to the highest levels of government. Police and other protective organisations should be held to account, but so should the government and civil service of the day, particularly the not-so-Right-Honourable Jacqui Smith who as Home Secretary at the time bore responsibility for the Home Office circular mentioned below.

 

 

 

Nazir Afzal: "... You may not know this but back in 2008 the Home Office sent a circular to all police forces in the country, saying as far as these young girls who are being exploited in towns and cities, we believe they have made an informed choice about their sexual behaviour, and therefore it is not for you police officers to get involved in..."

The interview was removed from the BBC website so the above may well be the only publicly-available source in existence to back up the notion that the Home Office actively instructed the child rapes to be ignored.

Afzal blots his copy book by making out that it's a problem with men in general -- the theory is that we're all inclined to child rape by virtue of our toxic testosterone, I guess -- but as an adherent himself, you can't expect him to short out his own cranial circuits by truly examining what happened and where it came from.

[M S E Refugee]

6 minutes ago, Barnsey said:

What is this f***ing sense of charity everyone has? This belief of austerity amongst workers? Those at the top who chuck big sums of money at the MSM to keep everyone thinking there's only so much to go round for the little people must be laughing their cashmere socks off.

I suppose at the moment their virtue signalling has had no impact on their own lives yet.

[Talking Monkey]

1 hour ago, spygirl said:

I *strongly* disagree with that.

I think, when you add them all up, the majority of IO BTL (2002+) are pretty modest houses, in economic disadvantaged areas.

The last ~10 years have seen a lot of ''portfolio' existing Northern places, taking a ~30k hit on each sale.

These are the smart IO BTLers, wholl leave broke but solvent.

At some point, as the IO BTL gets worse, and the BTL SVR gets pushed up, voids happen, the banks will decide to pull the rug.

Your factory mate was ell aware of the risk of having 500k owed to a bank on commercial terms.

Every SME Ive spoken to always worry about bank debt, knowing how fair weather friends the banks are.

 

 

 

 

 

Was he balls - 

Sunak worked as an analyst for the investment bank Goldman Sachs between 2001 and 2004.^[1][12] He then worked for the hedge fund management firm The Children's Investment Fund Management, becoming a partner in September 2006.^[13] He left in November 2009^[14] in order to join former colleagues at a new hedge fund firm, Theleme Partners, which launched in October 2010 with $700 million under management.^[15][16][17] He was also a director of the investment firm Catamaran Ventures, owned by his father-in-law, Indian businessman N. R. Narayana Murthy.^[12][18]

Apologies I got sajid javid and Sunak mixed up and who worked where and got to what rank, as javid made MD at deutsche. Looking at that career profile my comment still stands, with that trajectory Sunak would have developed some deep slippery bastard skills

[Castlevania]

1 hour ago, spygirl said:

From ~1985, the City has had a wide funnel and greased exit tube.

It takes in lot of high academic achievers/bullshitters, gives them jobs, then, if they dont make money/have use, lets them go.

3 years (max), 2 years (min), depending when he joined and left, is a try and fail city career.

Analyst is a sit at a desk and make me money,. Or else. Position.

 

He then made partner at a hedge fund. Although that could be due to family connections - invest x, and we’ll make your son in law a partner.

Agreed sounds like he got spat out pretty sharpish at Goldman.

[spygirl]

2 minutes ago, Castlevania said:

He then made partner at a hedge fund. Although that could be due to family connections - invest x, and we’ll make your son in law a partner.

Agreed sounds like he got spat out pretty sharpish at Goldman.

~10 years ago, everyone was partner in a hedge fund....

~20y ago it was PE/LBO.

 

[DurhamBorn]

Notice how quietly our telcos are starting to deliver while everything is shaky.TEF doing very nicely indeed now slowly creeping higher.BT keeps catching a bid,VOD is seeing more and more cunts (Blackrock) appear on the shareholder register.Even Turkcell has crept up a bit iv 3 ladders in out of 5 so up or down suits me.

Government might be a risk trying to force them to hold down prices,but a £30 phone bill increasing at 10% means nothing when an energy bill of £200 a month is going up at 50%.

Something yielding 6% that can deliver 4%pa growth could end up being the best sector of them all to protect capital.Only mistake was capital could of grown much more in the other inflation areas then be moved,but looking good at the moment.

[feed]

4 minutes ago, DurhamBorn said:

Notice how quietly our telcos are starting to deliver while everything is shaky.TEF doing very nicely indeed now slowly creeping higher.BT keeps catching a bid,VOD is seeing more and more cunts (Blackrock) appear on the shareholder register.Even Turkcell has crept up a bit iv 3 ladders in out of 5 so up or down suits me.

Government might be a risk trying to force them to hold down prices,but a £30 phone bill increasing at 10% means nothing when an energy bill of £200 a month is going up at 50%.

Something yielding 6% that can deliver 4%pa growth could end up being the best sector of them all to protect capital.Only mistake was capital could of grown much more in the other inflation areas then be moved,but looking good at the moment.

Couple of days ago.

https://news.sky.com/story/dorries-summons-telco-chiefs-for-talks-on-cost-of-living-crisis-12638039

The list of attendees and the agenda have yet to be finalised, but one Whitehall source said that Ms Dorries would be pressing them to come up with practical ideas for easing the squeeze on the living costs of millions of their customers.

These could, according to the source, include the provision of payment holidays or social tariffs which seek to help cash-strapped consumers.

A Department for Culture, Media and Sport spokesperson said: "We are looking at bringing together the UK's telecoms leaders to explore how the industry can work together with the government to further support consumers through the global rise in the cost of living.

 

[geordie_lurch]

PJW has written a post here based on the following if you want to see the state of things for those who dare go against the woke arseholes running all these institutions

 

[JohnnyB]

13 minutes ago, feed said:

Couple of days ago.

https://news.sky.com/story/dorries-summons-telco-chiefs-for-talks-on-cost-of-living-crisis-12638039

The list of attendees and the agenda have yet to be finalised, but one Whitehall source said that Ms Dorries would be pressing them to come up with practical ideas for easing the squeeze on the living costs of millions of their customers.

These could, according to the source, include the provision of payment holidays or social tariffs which seek to help cash-strapped consumers.

A Department for Culture, Media and Sport spokesperson said: "We are looking at bringing together the UK's telecoms leaders to explore how the industry can work together with the government to further support consumers through the global rise in the cost of living.

 

Fuckwits. Internet bill in £35 a month. Nothing.

Government should be looking at how to halve housing costs for the whole country as a first step

[Sue Lowe]

1 hour ago, HousePriceMania said:

He says there is no conspiracy, just cunts everywhere.

Everyone's a cunt 'cept you lot an' me bird.

[snaga]

14 minutes ago, JohnnyB said:

Fuckwits. Internet bill in £35 a month. Nothing.

Government should be looking at how to halve housing costs for the whole country as a first step

it's just theatre, Tory's want to be seen to be doing something, expect the existing social tariffs to be relaunched with new branding for the headline, but not much else.

[geordie_lurch]

Some light relief for us, not for her

Then Adam reminding us all what the next few decades hold in store for us in the West

 

[Majorpain]

3 hours ago, DoINeedOne said:

Polymetal currently does not sell any of its products to Russian Central Bank or its affiliates, directly or indirectly.
Silver bullion inventory continues to accumulate absent reliable export channels and non-existent domestic market. Discussions are under way with a variety of commercial and industrial international buyers. Silver bullion accounts for less than 5% of Company’s expected sales in 2022.

Millions of oz of silver unbought and unloved makes me sad, curiously whilst Russia likes their gold reserves not even they see how useful a stockpile of silver is.

[belfastchild]

27 minutes ago, Majorpain said:

Millions of oz of silver unbought and unloved makes me sad, curiously whilst Russia likes their gold reserves not even they see how useful a stockpile of silver is.

Sell to investors at cost? Asking for a friend.

[HousePriceMania]

1 hour ago, Sue Lowe said:

Everyone's a cunt 'cept you lot an' me bird.

There are a lot of cunts out there, proper sell their granny types, most people though are fairly decent and just want to get on with it.

[sancho panza]

13 hours ago, DurhamBorn said:

These are facts.In every street in the UK those working are going to get less than those not working at every level.From the single mother with one kid,to retired civil servants.Every single private sector worker will range from worse off,to badly worse off.Anyone with a fixed annuity will be slaughtered (horrible,but why i like insurers).

Osborne did some good work on welfare,at least a start,Sunak has wiped it out and more.UK is fucked with these in charge.Collapse of the private sector isnt out of the question the policy errors are so big.Outside of that higher inflation for longer.

Lot of public sector workers are worse off as well.There's a huge difference between people on legacy contracts and new starts in both the NHS and police.Councils are councils,but my expereince of teh NHS is that it runs at it's most basci level on cheap labour.Same with with new police starters @Lightscribe

6 hours ago, Lightscribe said:

The answer is he’s lying DB. They’ve all been lying through their teeth the last couple of years. What we are seeing is pure theater.

Occam’s razor says at least some of these ‘educated’ leaders in their field must be able to understand basic concepts about what we talk about here (or even their advisors who orbit them).

Looking at it the other way, how would you actively go about destroying an economy in a specific timeframe?

 

 

Sadly,I think you're wrong LS.I think Occam's razor says the msot liekly explanation is that they haven't got a clue what they're doing or are operating with a playbook written by academics with little real world experience and a fundamental belief that rpivate debt levels play no part in economic activity......

They're lurching from one fiasco to another in a timespan of months.

There's nothing coordinated about their stupidity

In a previous life I bumped into a lot of Tory MP's......very uninspiring bunch and dare I say it,totally out of touch with the real world in msot cases.There were one or two that were switched on but they were the exception that proved the rule.

[Barnsey]

19 hours ago, DurhamBorn said:

Retired coppers in my close ,3 of them on for £3000 a year increase in their pensions

I take it they were on the pre 2006 scheme so full pension at 50?

[sancho panza]

4 hours ago, Pip321 said:

 

I also agree….these people aren’t as stupid as we like to think. Their objectives are selfish though so it’s difficult to read. 

Like HPC I would like to know what the ultimate objective is? Killing the economy sounds self destructive…but it looks like that’s what happening. I am still a little unclear what’s in it for them? 

I bet most of these people would settle for a few billion and to be left alone….so power and control sound a bit too much conspiracy for me…

They're highly intelligent but act stupidly.

A lot of the msot highly intelligent people I know have virtually zero common sense.If anything highly intelligent people are more prone to msitakes because they have an indefatigueable faith in their own brilliance.

RBS wasn't wrecked by cahiers on min wage but people with MBA's and rocket science degrees.

One of the msot memorable things about the collapse of RBS was speaking to an RBS insider at the time who despite being high up enough to help create the crash,still failed to see it coming.

3 hours ago, spygirl said:

From ~1985, the City has had a wide funnel and greased exit tube.

It takes in lot of high academic achievers/bullshitters, gives them jobs, then, if they dont make money/have use, lets them go.

3 years (max), 2 years (min), depending when he joined and left, is a try and fail city career.

Analyst is a sit at a desk and make me money,. Or else. Position.

 

Rees Mogg is another I believe.All the really bright people run the GS's of this world and get the less bright people in govt to bail them out when the shtf

[Boon]

To say they are acting stupid has to assume that they are working in the public interest, no?

If you can believe they are working towards a different set of objectives then another observer may judge them to be smart.

I don't know what these objectives are but I also don't believe it is what they publicly said.

So to me this is consistent with their personas, they can appear to squirm and feign incompetence but that's cos they have to lie. Being a convincing liar isn't easy... I do think Johnson's act of being a naive bumbling idiot is effective with the electorate. 

[BWW]

23 hours ago, sancho panza said:

Lot of public sector workers are worse off as well.There's a huge difference between people on legacy contracts and new starts in both the NHS and police.Councils are councils,but my expereince of teh NHS is that it runs at it's most basci level on cheap labour.Same with with new police starters @Lightscribe

Sadly,I think you're wrong LS.I think Occam's razor says the msot liekly explanation is that they haven't got a clue what they're doing or are operating with a playbook written by academics with little real world experience and a fundamental belief that rpivate debt levels play no part in economic activity......

They're lurching from one fiasco to another in a timespan of months.

There's nothing coordinated about their stupidity

In a previous life I bumped into a lot of Tory MP's......very uninspiring bunch and dare I say it,totally out of touch with the real world in msot cases.There were one or two that were switched on but they were the exception that proved the rule.

I agree with you totally. The other incorrect assumption being made about Sunak is that he has a free hand to do what he wants and/or thinks is right and/or helps his plan along.

He absolutely doesn't, he either doffs his cap to bojo and works within restraining boundaries dictated by no 10 or he's out. And bojo's priorities is dick ... 1. his own dick and 2. whatever the dicks in the media are wittering about this hour.

[feed]

Here in the basement, we're mostly a bunch of contrarians that are way ahead of the curve. 

Our political class have, 40 years of disinflation and at least 20 years of monetary policy to prevent deflation at all costs. They’re not going to believe in real inflation for years.  In the meantime, they’ll make every policy mistake imaginable.

It’s the old adage that academic theory only advances when the supporters of the current doctrine die.

We need this generation of the pollical class to die off.  Figuratively of course, just out of power will do. 
 

[Eventually Right]

Rio2 Provides Update of Fenix Gold Environmental Assessment Process - Junior Mining Network

Any other poor b*stards holding RIO2 and want to guess how far down this opens today?

With this immediately after the Alexco nightmare the other day, I'm seriously considering ditching all my miners and buying royalty cos...

Maybe some SLV/GLD yolo options just in case, but seriously...

[M S E Refugee]

UK rolls out new anti-Russia sanctions https://www.rt.com/business/557682-uk-sanctions-russia/

The UK is banning the export of toilet paper to Russia.

[One percent]

3 minutes ago, M S E Refugee said:

UK rolls out new anti-Russia sanctions https://www.rt.com/business/557682-uk-sanctions-russia/

The UK is banning the export of toilet paper to Russia.

That’s a bit of a shitty move.