Credit deflation and the reflation cycle to come (part 5)

[King Penda]

1 hour ago, HousePriceMania said:

Conversely, a friend of mine's mums probate house sale went through justr in time for her to buy a new house in July 2022 (with her 2.0% 5 year fixed rate mortgage from 2018, carried over to the new house ) 

She now cant afford:

1) The upkeep of the house

2) The mortgage that is steaming her way in October this year

then....the finance company she works for is laying off staff......

Maybe a delay would have helped her.

Ouch 

[Yadda yadda yadda]

11 minutes ago, marceau said:

Aside from the technological issues, which are considerable, it'll be the old case of good money driving out bad. Money with restrictions will always be considered worse than money without. Black/grey markets will spring up to enable the difference.

Yes, black markets are inevitable. I was thinking specifically about Government handouts.

[HousePriceMania]

 

 

 

[JMD]

7 hours ago, Harley said:

<Lurk mode off>

Exercise your mind:

https://tomluongo.me/2023/03/21/fdic-insurance-credit-suisse-day-fed-killed-europ/

The nub of this bit of it:

While at the same time, yes, including many (not TL?) notable commentators....

 

It was always about how, not if.

But this is no more about finance than covid was about health.

Inflation is a sideshow, merely about the devaluation of your money. 

The US has no "friends".  In this regard the UK is in Europe. 

If you buy the hypothesis then you know what to dos.

None of it is hard, just painful.

Tough love: It's a choice.

<Lurk mode on>

Harley, interesting article. But do you know what Luongo means in his article, where under point 8, he intriguingly writes: 'During the takeover of the UK last summer'?   

I have read/watched Luongo on/off for couple of years and have heard him state that he believes the world's elite - historically these individuals were and still remain according to Luongo, the British and the European old finance families - and who today operate through the City of London. He thinks they effectively are the world's controlling bankers, and who's tentacles even drive US economic policy to the same end - ie. to achieve total global dominance.     

I think you regularly read Luongo's finance blog, so was just wondering if you knew if point-8 above related to Luongo's globalist bank theory? Or is it more to do with Luongo's article specifics where he explains how the US is asserting it's power over Europe? 

Edited March 22, 2023 by JMD

[Bobthebuilder]

14 minutes ago, DurhamBorn said:

A fishing pond.You can charge £10 a day,just stick an honesty box on the entrance and call there every night to collect.My mate discovered a massive Roman hoard of coins,sold them on the black market to some Yanks and did that 30 years ago.His kids have it now and collect a few hundred a week from it for very little work.Repair the odd platform.He bought a field with a farm pond in and then expanded it hugely.It was already on the maps so didnt get any grief from the council.I guess you would just need public liability insurance.

Here's an interesting fact DB. Did you know the volume of water in a pond will only hold a specific amount of fish by weight. Either lots of small ones or a few big Carp for instance, throw in a predator like a Pike, and It will screw up the fish holding even more.

Nature cannot be adjusted.

[TNS]

1 hour ago, HousePriceMania said:

I'm more inclined to think, massive fraud/criminality is the way to go.

Seems to work for the tories.

and you think labour would be any better ? basically, we're being rogered by the elites!

[MrXxxx]

3 hours ago, Yadda yadda yadda said:

One rule change that should be made is charges against property used for the fraudulent claiming of housing benefits. The case DB mentioned could see the Government take a charge against the house to the value of the housing benefit fraud plus costs.

Is this not similar to what I was suggesting?

[HousePriceMania]

33 minutes ago, TNS said:

and you think labour would be any better ? basically, we're being rogered by the elites!

Of course not, they'd just continue the rogering.

Their leader is a rich middle class tory

 

[TNS]

10 minutes ago, HousePriceMania said:

Of course not, they'd just continue the rogering.

Their leader is a rich middle class tory

 

Middle class no longer exists but I agree. There's there's the worker and the taker.

[Calcutta]

I love the idea of owning a farm or a beach or whatever somewhere. But I'm coming around to the idea that in a World run by globalists perhaps the best long term plan is to hold liquid assets and be able to move them fast. And be able to move myself from place to place as fast as possible.

ISAs held in London isn't a bad start, I don't even know if it's possible to open accounts with brokers in other countries, but that might be a nice little bit of insurance.

A decent portfolio, weighted towards energy and raw materials, over time as it grows move it more towards a standard S&P tracker, open accounts for the family, kids/grandkids can be educated in schools for a fee in most countries, health insurance outside the US is never too extreme. 

It's doable. Even with a family in tow.

The globalists have no country.

It's probably time we realise that neither to do we.

[HousePriceMania]

3 minutes ago, TNS said:

Middle class no longer exists but I agree. There's there's the worker and the taker.

Maybe bourgeoisie is a better name then. 

 bourgeoisie [noun] (according to Marxism) the class of people who are educated and who own property.

[TNS]

8 minutes ago, HousePriceMania said:

Maybe bourgeoisie is a better name then. 

 bourgeoisie [noun] (according to Marxism) the class of people who are educated and who own property.

I own property, a bit like HPC unless the governcunts sort out beanies we'll still be here in 10 years bitching about the average 800k house price. That's what keeps the wheels spinning. As long as some can consider then wealthy in bricks and mortar, the world will tick on.

[Jay]

8 hours ago, Harley said:

<Lurk mode off>

Exercise your mind:

https://tomluongo.me/2023/03/21/fdic-insurance-credit-suisse-day-fed-killed-europ/

The nub of this bit of it:

While at the same time, yes, including many (not TL?) notable commentators....

 

It was always about how, not if.

But this is no more about finance than covid was about health.

Inflation is a sideshow, merely about the devaluation of your money. 

The US has no "friends".  In this regard the UK is in Europe. 

If you buy the hypothesis then you know what to dos.

None of it is hard, just painful.

Tough love: It's a choice.

<Lurk mode on>

Before you go..Is it that clear…is uk really in Europe or just another Yankee ally…lots of us tentacles in Western Europe acting for their self interest ..tentacles further afield as well..

need more evidence to see if there change or merely smoke and illusions of change..things internationally seem to progressing slowly..dollar still king imo but I maybe one of entrenched..or not..China now getting nearly all its oil from Russia so you could be right if I get your drift..

[DoINeedOne]

I'm going to repost this link because you're all very collapse talk today, and I agree with pretty much all of it

Anyway I was working with a guy from Argentina many years ago who used to tell me about the collapse in 2001, I think thats right

So after looking around online back then I came across a few discussions about it one guy packaged everything up into a PDF its an interesting read

One part i always remember is about getting any dental issues fixed the last thing you also want is a fucking toothache during a collapse

Now i remember this because I had a cracked back tooth and was avoiding the dentist, Then COVID arrived, luckly i didnt have to much trouble with it but as soon as the dentist was opening after months I was there

Ignore the highlights I think I got abit over excited reading it years ago 

 

Might re-read it this week 

https://www.dropbox.com/s/0kp7mc6aurncl7z/Argentinastory.pdf?dl=0

 

[Errol]

 

[reformed nice guy]

1 hour ago, DurhamBorn said:

Id always hold BAT they will swap baccy for sea shells if it becomes legal tender.BAT earn most of their earnings around the world.

Im reading a book about a naturalist that went through China in 1910, hunting in the far flung parts and staying in villages that had never seen a white man before.

He needed money and normally the local Mandarins could arrange for credit by telegraphing or getting a message back to a city. He was near Tibet and there was no local Mandarin, no reps from the Chinese government at all.

How did he get his money? The British American Tobacco representative sent a message back to the nearest city to confirm his identity then when word came back the BAT arranged for the credit he needed. Even back then BAT was at the frontiers selling fags where no one else would dare!

[jc747]

Fed goes .25 to 5.0 with cpi at 6.5.

Uk still banging on about cake

[Bobthebuilder]

3 minutes ago, jc747 said:

Fed goes .25 to 5.0 with cpi at 6.5.

Uk still banging on about cake

I notice Marcus increased their saving account rate today, they seem to be pretty good at front running BOE base rate increases.

[F150]

USD is collapsing again

[Long time lurking]

And for the punch line 

 

Edited March 22, 2023 by Long time lurking

[feed]

[Harley]

2 hours ago, JMD said:

Harley, interesting article. But do you know what Luongo means in his article, where under point 8, he intriguingly writes: 'During the takeover of the UK last summer'?   

I have read/watched Luongo on/off for couple of years and have heard him state that he believes the world's elite - historically these individuals were and still remain according to Luongo, the British and the European old finance families - and who today operate through the City of London. He thinks they effectively are the world's controlling bankers, and who's tentacles even drive US economic policy to the same end - ie. to achieve total global dominance.     

I think you regularly read Luongo's finance blog, so was just wondering if you knew if point-8 above related to Luongo's globalist bank theory? Or is it more to do with Luongo's article specifics where he explains how the US is asserting it's power over Europe? 

The Truss to Sunak business.

[HousePriceMania]

Bloke on TOS saying...

"There's rumours Royal Mail are going into administration, apparently "

from the "grapevine".

Probably bollax but you know what, I could believe it 

It would be remiss of me not to mention it to @Yellow_Reduced_Sticker
 

[HousePriceMania]

If this isn't a sign of recession I dunno what is...

 

Just Eat: Takeaway firm to cut 1,900 jobs in UK

https://www.bbc.com/news/business-64985351

[Loki]

5 minutes ago, Long time lurking said:

And for the punch line 

 

I'd forgotten about the debt ceiling pantomime in all the recent excitement