Credit deflation and the reflation cycle to come (part 4)

[King Penda]

45 minutes ago, DurhamBorn said:

Everything about the night the Titanic sank should be studied and understood by anyone wanting to understand human nature and hubris when disaster strikes.You will not get a better lesson in whats happening now from any numbers or economists.Try putting the energy crisis on top of the 2 hours of the Titanic sinking.Going at full speed even though they were warned about the risk of icebergs.Thinking they could spot them in time if needed.So sure of the ship they didnt even remember the binoculars for the look outs.They hit the berg because the sea was so still,so easy and perfect that they couldnt see the waves lashing up the side.

Thomas Andrews:
The pumps will buy you time, but minutes only. From this moment on, no matter what we do, Titanic will founder.

Ismay:
But this ship can't sink!

Thomas Andrews:
She is made of iron, sir. I assure you, she can. And she will. It is a mathematical certainty.

The captain said hold my pint ive got this .the problem was he was holding two

 

[King Penda]

8 minutes ago, Yadda yadda yadda said:

The famous seafaring city of Stoke.

Lord flash heart was from uttoxeter 

[Red Debt Redemption]

37 minutes ago, King Penda said:

It’s captain was from stoke full steam ahead

Steamboats

[Ash4781b]

https://news.sky.com/story/amp/cost-of-living-crisis-liz-truss-considers-nuclear-option-of-cutting-vat-to-15-12683603

“A source close to Ms Truss's discussions told The Sunday Telegraph: "They [the Treasury] have talked about the Gordon Brown approach that he took at the time (of the financial crisis), when it looked as though consumer confidence was falling.

"They are talking about the last big economic shock that hit the whole economy and consumers in 2008, and the Treasury's response to that.

…..

Mr Brown announced a year-long cut in VAT from 17.5% to 15% in December 2008 in response to the financial crisis.”

 

@spygirl 

oh dear if they are looking at what Gordon Brown did…. Don’t fan his ego. Went around for ages saying he saved the world.

[ThoughtCriminal]

Yeah, were in bubble 

[spygirl]

44 minutes ago, Ash4781b said:

https://news.sky.com/story/amp/cost-of-living-crisis-liz-truss-considers-nuclear-option-of-cutting-vat-to-15-12683603

“A source close to Ms Truss's discussions told The Sunday Telegraph: "They [the Treasury] have talked about the Gordon Brown approach that he took at the time (of the financial crisis), when it looked as though consumer confidence was falling.

"They are talking about the last big economic shock that hit the whole economy and consumers in 2008, and the Treasury's response to that.

…..

Mr Brown announced a year-long cut in VAT from 17.5% to 15% in December 2008 in response to the financial crisis.”

 

@spygirl 

oh dear if they are looking at what Gordon Brown did…. Don’t fan his ego. Went around for ages saying he saved the world.

The inflation and bond yield monsters are out of the cage, rampaging.

[ThoughtCriminal]

President of the Federal Reserve in Minneapolis just spoke the quiet part out loud.

[CannonFodder]

Cutting VAT to encourage more consumption ...hmmm

Not a cut in employer taxes to encourage more production.

[Lightscribe]

1 minute ago, CannonFodder said:

Cutting VAT to encourage more consumption ...hmmm

Not a cut in employer taxes to encourage more production.

What do you expect we’re a nation of bennies, consumption is our economy.

[Lightscribe]

27 minutes ago, ThoughtCriminal said:

President of the Federal Reserve in Minneapolis just spoke the quiet part out loud.

There’s no part of CBDCs that will make any of ‘our’ lives better. But then again this was never about improving the standard of living, it’s about maintaining control when the standard of living gets exponentially worse.

[CannonFodder]

10 minutes ago, Lightscribe said:

What do you expect we’re a nation of bennies, consumption is our economy.

Yup and thats the problem - more consumption, less vat equals more tat from china, more pressure on sterling.

Might buy more silver coins though - silver lining

[Ash4781b]

18 minutes ago, CannonFodder said:

Yup and thats the problem - more consumption, less vat equals more tat from china, more pressure on sterling.

Might buy more silver coins though - silver lining

Have to pay vat on them ?

[Errol]

Cheaper silver! Yay.

[marceau]

In other news, this guy has said in today's Times that everyone will have to start drinking recycled sewage water because of the climate emergency. Nothing to do with population growth or deranged investment priorities, apparently.

https://www.thetimes.co.uk/article/drinking-recycled-sewage-is-the-future-bwxt5bsns

It takes a special level of clownery to create a water shortage in one of the rainiest places in the world. This entire class of people needs to be liquidated, pronouns and all.

 

[Virgil Caine]

33 minutes ago, CannonFodder said:

Cutting VAT to encourage more consumption ...hmmm

Not a cut in employer taxes to encourage more production.

Over consumption funded by money printing is the problem, particularly with energy. The inflationary price signals are saying either reduce consumption or increase  production. Just constantly repeating the strategy that got you in the mess in the first place is just insanity.

[CannonFodder]

5 minutes ago, Ash4781b said:

Have to pay vat on them ?

If you in UK and want them in your hand then yes normally

Unless buying from a citizen off ebay or using some storage vault work around

[Pip321]

47 minutes ago, ThoughtCriminal said:

Yeah, were in bubble 

Jeez…$1500 a month car payments. It would be interesting to know the average UK car payment (or opportunity cost for those who pay cash)  

The GMC Denali (mentioned)  do a nice 6.6L model starting at only $70k approx. I have a sneaky feeling many Dosbods participants don’t have one….I will get one but only free from someone else’s driveway after the zombie apocalypse.

My Audi A3 was on a forecourt for £4300 and I paid £2300 3 years ago. Even that was a struggle to part with that amount because I gave up the Honda Jazz which cost me £200. The jazz is still running and now owned by my son as a punishment for crashing his car. He loves it…£55 a year for MoT and service. All electric, sun roof, AC and a tape deck…luxury  

Motorheads are fine with me…Nothing wrong spending money on something you appreciate. Many people have no idea though, they just hand over the money and pick a colour…our neighbour has just bought a new grey ‘Mazda’ and she loves it. I had a look…it’s a Lexus but I didn’t have the heart to tell her. To be fair…fab car. It should get a good 3000 miles under its belt every year ready for trade in once the ash trays get full. 🤦🏻‍♂️

[Froggy2000]

10 hours ago, Noallegiance said:

What book is that Noallegiance? Looks interesting!

[ONC]

Nothing new, but still amazes me, in Times today

https://archive.ph/rP0zN

man with £852,000  Interest Only mortgage starts to get worried ….

 

[Axeman123]

1 hour ago, CannonFodder said:

Cutting VAT to encourage more consumption ...hmmm

Not a cut in employer taxes to encourage more production.

Not even targetted consumption.

Energy bill for a terraced house - VAT cut

New heated indoor swimming pool and sauna complex - the exact same VAT cut

Absolutely disgusting.

[Democorruptcy]

Re abroad doing better than us, just watched a video from Indonesia, petrol worked out at 42p a litre. We charge so much in tax, fuel duty etc. it boosts GDP figures and that's supposed to make us a 'rich' country, pity people then need government handouts to survive.

[DurhamBorn]

2 hours ago, CannonFodder said:

Cutting VAT to encourage more consumption ...hmmm

Not a cut in employer taxes to encourage more production.

If i look at lots of different options on my roadmap,that would be one of the worst options.It rewards the things we need to un-reward.Bonkers,and will speed the collapse.Right now they need to use everything to keep the cap at around £2500 and the rest on scrapping net zero crap and building new coal until we can get more nuclear.The next thing is increase the tax allowance to £15k.Freezing that was pure theft from low paid workers.I saw Sunak as bad as Brown,but actually he was worse.Worse than Brown.

Truss needs to give a speech first day and be straight,all governments since Blair was elected have had a disastrous energy policy.Lots is due to the Ukraine war,but most from idiotic left wing thinking and spineless polos.

[Ash4781b]

1 hour ago, ONC said:

Nothing new, but still amazes me, in Times today

https://archive.ph/rP0zN

man with £852,000  Interest Only mortgage starts to get worried ….

 

Blimey. That’s nuts.

[M S E Refugee]

1 hour ago, ONC said:

Nothing new, but still amazes me, in Times today

https://archive.ph/rP0zN

man with £852,000  Interest Only mortgage starts to get worried ….

 

He is screwed, he has a job that nobody will have any use for in the future and an unaffordable mortgage.

His best option would be to sell up if he can and move to the North of England and buy a decent house for cash.

[Plan-b]

41 minutes ago, DurhamBorn said:

scrapping net zero crap and building new coal until we can get more nuclear

The big question, but will anyone in government actually do it?

I doubt anyone will.

I have no confidence in any of them or their advisers, scientists, or handlers.