Credit deflation and the reflation cycle to come (part 6)

[King Penda]

2 minutes ago, JoeDavola said:

I have no input here but I just saw this on bbc news and realized Paul Heaton reminds me a bit of you - wee bit older than you buts still got your head of hair!

Your right he is that blasé about having a full head of hair he does not give a fuck what it looks like .

[King Penda]

Just fucking look at it stylists cost money if anything it signals virility and a blasé attitude to life . You lot might have the cash the shares and be 6ft tall but you ain’t got the fucking hair .

[Cattle Prod]

1 hour ago, Sugarlips said:

To be filed under ‘Buy Precious Metals’

Thanks for posting, Sugar. Every time I see a gem like this I do a conversion to gold. An ounce of gold was c. £16.40 in 1971, it would have bought you 164 cheap pints. 164 cheap pints now at £3 (don’t go for the bait disbodders!) would be £497.

So is gold massively overvalued right now at £1499? Did it not preserve purchasing power?

I think timing is everything and I also think gold leads. From 1971, gold ran up 17x to 1980, that’s 1700% to £288. That would buy you 2880 cheap 1971 pints, equivalent to a current gold price of £8640.

But the pint inflated too, to around 47p in 1980 so 613 pints equivalent to a current gold price of £1838. So under at the start of the decade, over at the end, but basically gold has preserved pint purchasing power since the 70s. Excellent.

Well thst, or current cheap pint prices should be £9, that’d work too. Let’s hope gold is not leading on that one 🤨

Edited July 7, 2023 by Cattle Prod

[King Penda]

3 minutes ago, Cattle Prod said:

Every time I see a gem like this I do a conversion to gold. An ounce of gold was c. £16.40 in 1971, it would have bought you 164 cheap pints. 164 cheap pints now at £3 would be £497.

So is gold massively overvalued right now at £1499? Did it not preserve purchasing power?

I think timing is everything and I also think gold leads. From 1971, gold ran up 17x to 1980, that’s 1700% to £288. That would buy you 2880 cheap 1971 pints, equivalent to a current gold price of £8640.

But the pint inflated too, to around 47p, so 613 pints equivalent to a current gold price of £1838. So under at the start of the decade, over at the end, but basically gold has preserved pint purchasing power since the 70s. Excellent.

Well thst, or current cheap pint prices should be £9, that’d work too. Let’s hope gold is not leading on that one 🤨

My first pint was around 52p in 81.

[Cattle Prod]

1 minute ago, King Penda said:

My first pint was around 52p in 81.

Nice anecdotal, confirms the above number plucked off the internet. An ounce of gold would get you 500-600 pints then, and right now. Gold is the constant. Love it. 

[Joncrete Cungle]

1 hour ago, King Penda said:

No I’m sorry I’m betting the detached was also new he seems nice but lacks common sense .he went all in on a detached has his first house on a single wage …..tool

£1100 would be doable on a 'decent wage' wonder what other debts he might have.... Get a lodger in the spare room and get a part time job evenings / weekends. Call it 300 a month for the lodger and 400 from the part time work?

[Kevin Redshaw]

7 minutes ago, King Penda said:

My first pint was around 52p in 81.

49p Wilson's mild  - Traveler's Rest in Rochdale in September 1980

[Axeman123]

38 minutes ago, King Penda said:

Your right he is that blasé about having a full head of hair he does not give a fuck what it looks like .

At 60 that must be dyed, the unkempt look is just a sophisticated bluff IMO.

[Calcutta]

27 minutes ago, King Penda said:

Just fucking look at it stylists cost money if anything it signals virility and a blasé attitude to life . You lot might have the cash the shares and be 6ft tall but you ain’t got the fucking hair .

It's going to be a challenging wank, but I'll give it the old college try.

[Shamone]

On 06/07/2023 at 22:44, DurhamBorn said:

We were the same in Co Durham,Darlo and Boro are starting to really fill up now with migrants,and the market towns around are starting to get them.My local Aldi was full of Muslims last night in the full veil etc and more and more obese Africans.Im not sure how they are moving here,somebody much be getting them housing.Its still a small percentage up here in most towns,but its starting,luckily BTL being destroyed should slow it down.

They are sending them north

[Loki]

1 minute ago, Shamone said:

They are sending them north

Go North, life is امن there

[King Penda]

13 minutes ago, Kevin Redshaw said:

49p Wilson's mild  - Traveler's Rest in Rochdale in September 1980

Mine was mild has well the drink of poor people apparently but it beats lager and bitter 

[King Penda]

5 minutes ago, Calcutta said:

It's going to be a challenging wank, but I'll give it the old college try.

Sent @Stuey the pictures of your endeavours 

[King Penda]

25 minutes ago, Cattle Prod said:

Nice anecdotal, confirms the above number plucked off the internet. An ounce of gold would get you 500-600 pints then, and right now. Gold is the constant. Love it. 

Kevin has a similar figure 

[King Penda]

27 minutes ago, Joncrete Cungle said:

£1100 would be doable on a 'decent wage' wonder what other debts he might have.... Get a lodger in the spare room and get a part time job evenings / weekends. Call it 300 a month for the lodger and 400 from the part time work?

A Ukrainian will get you 500 (but not a fresh off the boat one ) but in a new build your going to get top wack

[King Penda]

10 minutes ago, Loki said:

Go North, life is امن there

Shut the fuck up ….. there be dragons up north and canabalism is rife 

[Loki]

5 minutes ago, King Penda said:

there be dragons up north

[King Penda]

Just now, Loki said:

And Stuart’s up here . He likes pork sword give or take and us northners are a bit fond of long pig  black pudding and oatcakes 

[DurhamBorn]

2 hours ago, crashmonitor said:

Meanwhile in Hull, guy sells a detached house he can't afford in 2022, now selling the end terraced he can't afford in 2023...mortgage has risen from 600 to 1100. Now viewing a flat, trouble is no viewing  on his end terraced. Let's hope he can afford the flat if he gets to sell the terraced.

 

 

I feel sorry for people like him.He works,and has tried to live off the state tit.Its not lost on me he is sat on the border of Northumbria,looking across to the foreign land that caused his misery,just like it always has.He is losing his house because of bennies,immigrants and polos funding housing bennies and pensions.The young are easy victims though because most have no understanding of whats going on or causing it.Look at the design of that house as well,terrible.£1100 mortgage makes you wonder how much is owed.He must of thrown away a lot of money moving etc as well.He needs a lodger.

[King Penda]

6 minutes ago, DurhamBorn said:

I feel sorry for people like him.He works,and has tried to live off the state tit.Its not lost on me he is sat on the border of Northumbria,looking across to the foreign land that caused his misery,just like it always has.He is losing his house because of bennies,immigrants and polos funding housing bennies and pensions.The young are easy victims though because most have no understanding of whats going on or causing it.Look at the design of that house as well,terrible.£1100 mortgage makes you wonder how much is owed.He must of thrown away a lot of money moving etc as well.He needs a lodger.

Your correct he looks to the foreign land land that caused his misery and don’t panick northumberland will be crushed in time land of the Prince bishops my arse . They were the first to capitulate to the pope .anyway ignore my insane Mercian rambling and it looks like he bought on a posh estate and I’d hazard a guess that his detached house was on the same estate he went to high on the ladder with no second wage and lacked the intelligence to be adaptable ie take a lodger in . In short lack of basic maths skills and is not a cynic and has studied no history of the uk ie things go pear shaped every other decade 

[Loki]

He does look a bit like Deano 

[King Penda]

9 minutes ago, Loki said:

He does look a bit like Deano 

The more I watch him the more I realise the guys a tool to trusting a fuckwit to confident in his own abilities to pay the debt back on his own and zero adaptation skills . He is everthing I’m not . But he comes across has a nice guy . The btl brigade have the same mindset.

[Ash4781b]

1 hour ago, Kevin Redshaw said:

49p Wilson's mild  - Traveler's Rest in Rochdale in September 1980

I’ve not seen mild before. What’s it like as a drink

[DurhamBorn]

1 hour ago, Kevin Redshaw said:

49p Wilson's mild  - Traveler's Rest in Rochdale in September 1980

Newcastle Brown Ale 52p 1985,the leg was loose on the pool table where the money box was,i used to just get it out of there,or swap a load of baccy if there was not much in.I nailed a lass in the outside toilets in there and my mates all burst out laughing and knew when i came back,reason they knew was my jeans knees were green off the algae on the bog floor.

[King Penda]

7 minutes ago, Ash4781b said:

I’ve not seen mild before. What’s it like as a drink

It’s a poor man’s drink my dad drank it and I drank it before but fell out of fashion in the 80s . It can be dark or light . I’ve not seen it sold up north for decades but the irony is I visited one of my old haunts the porcupine pub in London ( google it ) and they had dark and light mild on. 8 pints later lol