Credit deflation and the reflation cycle to come (part 8)

[Axeman123]

Here is a hell of a chart, showing just how concentrated the UK economy is (linking back to my barbershop analogy from the other day):

[Long time lurking]

6 hours ago, Long time lurking said:

It`s the P2P instant payment aspect that worries the western system ,as it will be almost charge less,just look at the value of the daily world trade ,who gets a fraction of every dollar pound euro yen exchanged ,,,it`s the money changers at the temple problem on steroids all over again

Quoting myself for context ,if the below is true things make a lot more sense ,WeChat  

 

Edited March 27 by Long time lurking

[sancho panza]

8 hours ago, Errol said:

Gold held completely outside the system will be crucial.

Your comment made me think of this gem of a stat from the wrold gold council

a 22m cubed sqaure.........someone on here once said you're not buying gold,you're buying the enrgy it took to mine it.....poss @Cattle Prod

this stat cant be right

https://www.gold.org/goldhub/data/how-much-gold?utm_medium=email&utm_source=newsletter&utm_campaign=GOLDHUB%3A+Your+Weekly+Gold+Market+Round-up%2C+March+22%2C+2024

[sancho panza]

Intersting to see this coming through.I'm not surprised.

NHS is almost as badly led as the country imho.Adn that's saying something.

The coof did a lot of reputational damage.All that dancing on rooves while they shut the country down for something with the fatality of flu (using data from Dept of Health quoted to Steve Baker MP in Parliament)

 

https://www.telegraph.co.uk/news/2024/03/27/nhs-satisfaction-lowest-british-social-attitudes-survey/

Satisfaction with NHS hits lowest level since records began

Satisfaction with the NHS has hit its lowest level since records began.

Fewer than one in four people said they were satisfied with how the NHS runs for the first time in the 41-year history of the British Social Attitudes survey.

Almost three quarters of those who were unhappy said “taking too long to get a GP or hospital appointment” was the main reason they were unhappy.

Of the more than 3,000 people questioned in the 2023 survey, just 24 per cent were satisfied with the health service, a record 52 per cent were dissatisfied, and the remainder were indifferent.

There has been a steep drop in satisfaction since the pandemic, which has more than halved from 54 per cent in 2020, and fell a further five per cent in 2023 compared to 2022.

The results come as satisfaction levels in both GP and dental services also hit an all-time low, standing at just 34 and 24 per cent respectively.

While more than seven in 10 people said GP and hospital waits were the main problem, the other top concerns included a lack of staff, a lack of funding, and the NHS wasting money.

Last year a record number of people waited at least four weeks for a GP appointment, with one in every 20 of the almost 348 million appointments delivered by GP teams taking place at least 28 days after booking.

For the first time this century, the survey asked the public whether they would be willing to pay more tax to fund the NHS, with half of respondents agreeing that they would. Wealthier respondents and Labour voters were both more likely to agree.

Edited March 27 by sancho panza

[reformed nice guy]

On 25/03/2024 at 20:53, montecristo said:

Even the gold miners want a piece of the action.

 

I hope someone on this thread holds some of this:

[ThoughtCriminal]

Let's all make our surprised face. Some of the examples from the article are jaw dropping. 

"One council, Buckinghamshire, said it was paying £952 per day for "two complex medical passengers" to travel by ambulance with a nurse.

Other examples include a £684 per day trip in Trafford and £650 for a trip three times a week for a child in Lincolnshire.

Mr Oliver, who is also the Conservative leader of Surrey County Council, said his own local authority's budget for home-to-school transport was overspent by £10m."

Demand from parents has increased by 40% since 2019. Costs have doubled to 1.5 billion. That's right, this country now spends 1.5 billion ferrying "special needs" kids to school in taxis. Some of this will be immigration linked: disabled children being born to Pakistani cousin marriage etc, but most of it is DB's benefits thesis is playing out in all kinds of weird ways as people just take the piss.

Imagine if you'd told someone any of this 30 years ago, they'd think you were mad.

[Castlevania]

5 hours ago, sancho panza said:

For the first time this century, the survey asked the public whether they would be willing to pay more tax to fund the NHS, with half of respondents agreeing that they would. Wealthier respondents and Labour voters were both more likely to agree.

Not sure if the same or a different survey then asked how much would you personally be willing to pay? And the answer £8 a month. Or a pint and a packet of crisps in London. 

[jamtomorrow]

6 hours ago, sancho panza said:

you're buying the enrgy it took to mine it.....poss @Cattle Prod

See also: https://ccaf.io/cbnsi/cbeci

[DurhamBorn]

1 hour ago, ThoughtCriminal said:

Let's all make our surprised face. Some of the examples from the article are jaw dropping. 

"One council, Buckinghamshire, said it was paying £952 per day for "two complex medical passengers" to travel by ambulance with a nurse.

Other examples include a £684 per day trip in Trafford and £650 for a trip three times a week for a child in Lincolnshire.

Mr Oliver, who is also the Conservative leader of Surrey County Council, said his own local authority's budget for home-to-school transport was overspent by £10m."

Demand from parents has increased by 40% since 2019. Costs have doubled to 1.5 billion. That's right, this country now spends 1.5 billion ferrying "special needs" kids to school in taxis. Some of this will be immigration linked: disabled children being born to Pakistani cousin marriage etc, but most of it is DB's benefits thesis is playing out in all kinds of weird ways as people just take the piss.

Imagine if you'd told someone any of this 30 years ago, they'd think you were mad.

Its like having thousands of lottery winners in every town the ones who get their kids on SEN.My daughter is a mental health nurse and the parents do anything to get a SEN.Its a ticket to never working,but having a very big income.I know one lass who has two raking it in,and wait for it,her own mother got paid to escort them in the taxi .Its nuts,but again councils dont care,they just bump up the council tax etc.The welfare cap needs to have no loopholes and include disability .The masses of immigrants are jumping on of course.I suspect most muslims will be getting bennies.The local Pakistani family here are nice people,but you can see how lacking they are due to marrying cousins etc.

[Castlevania]

14 minutes ago, DurhamBorn said:

.The local Pakistani family here are nice people,but you can see how lacking they are due to marrying cousins etc.

The usual giveaway is a spastic child.

[Democorruptcy]

31 minutes ago, DurhamBorn said:

Its like having thousands of lottery winners in every town the ones who get their kids on SEN.My daughter is a mental health nurse and the parents do anything to get a SEN.Its a ticket to never working,but having a very big income.I know one lass who has two raking it in,and wait for it,her own mother got paid to escort them in the taxi .Its nuts,but again councils dont care,they just bump up the council tax etc.The welfare cap needs to have no loopholes and include disability .The masses of immigrants are jumping on of course.I suspect most muslims will be getting bennies.The local Pakistani family here are nice people,but you can see how lacking they are due to marrying cousins etc.

Just had a look at Bradford:

 

[One percent]

2 minutes ago, Democorruptcy said:

Just had a look at Bradford:

 

Do you have an ethnic breakdown of those figures?  

[Democorruptcy]

8 minutes ago, One percent said:

Do you have an ethnic breakdown of those figures?  

https://www.ons.gov.uk/visualisations/customprofiles/build/

[ThoughtCriminal]

7 hours ago, sancho panza said:

Intersting to see this coming through.I'm not surprised.

NHS is almost as badly led as the country imho.Adn that's saying something.

The coof did a lot of reputational damage.All that dancing on rooves while they shut the country down for something with the fatality of flu (using data from Dept of Health quoted to Steve Baker MP in Parliament)

 

https://www.telegraph.co.uk/news/2024/03/27/nhs-satisfaction-lowest-british-social-attitudes-survey/

Satisfaction with NHS hits lowest level since records began

Satisfaction with the NHS has hit its lowest level since records began.

Fewer than one in four people said they were satisfied with how the NHS runs for the first time in the 41-year history of the British Social Attitudes survey.

Almost three quarters of those who were unhappy said “taking too long to get a GP or hospital appointment” was the main reason they were unhappy.

Of the more than 3,000 people questioned in the 2023 survey, just 24 per cent were satisfied with the health service, a record 52 per cent were dissatisfied, and the remainder were indifferent.

There has been a steep drop in satisfaction since the pandemic, which has more than halved from 54 per cent in 2020, and fell a further five per cent in 2023 compared to 2022.

The results come as satisfaction levels in both GP and dental services also hit an all-time low, standing at just 34 and 24 per cent respectively.

While more than seven in 10 people said GP and hospital waits were the main problem, the other top concerns included a lack of staff, a lack of funding, and the NHS wasting money.

Last year a record number of people waited at least four weeks for a GP appointment, with one in every 20 of the almost 348 million appointments delivered by GP teams taking place at least 28 days after booking.

For the first time this century, the survey asked the public whether they would be willing to pay more tax to fund the NHS, with half of respondents agreeing that they would. Wealthier respondents and Labour voters were both more likely to agree.

The "Would you pay more tax for the NHS" question displays how full of shit 95% of the population is better than anything else.

Anyone who so desires can make a donation to HMRC. So the obvious question for that 50% is WHY THE FUCK AREN'T YOU ALREADY PAYING EXTRA TAX VOLUNTARILY??? 

The answer, of course, is because they don't mean a word of it.

[Axeman123]

The fact these figures are available implies to me an attempt is being made to prepare the ground for change. Normally this sort of waste would be well and truly buried in the figures, rather than neatly seperated out to enable these sorts of examples to be cited in the press.

Hopefully someone gets it and is trying to turn the ship.

[Lightscribe]

https://www.scmp.com/business/banking-finance/article/3256859/hsbc-launches-tokenised-gold-retail-customers-hong-kong-government-pushes-publicly-accessible

[belfastchild]

17 minutes ago, Axeman123 said:

Hopefully someone gets it and is trying to turn the ship.

Bit fucking insensitive after yesterday.

[Colliedog]

2 hours ago, ThoughtCriminal said:

Let's all make our surprised face. Some of the examples from the article are jaw dropping. 

"One council, Buckinghamshire, said it was paying £952 per day for "two complex medical passengers" to travel by ambulance with a nurse.

Other examples include a £684 per day trip in Trafford and £650 for a trip three times a week for a child in Lincolnshire.

Mr Oliver, who is also the Conservative leader of Surrey County Council, said his own local authority's budget for home-to-school transport was overspent by £10m."

Demand from parents has increased by 40% since 2019. Costs have doubled to 1.5 billion. That's right, this country now spends 1.5 billion ferrying "special needs" kids to school in taxis. Some of this will be immigration linked: disabled children being born to Pakistani cousin marriage etc, but most of it is DB's benefits thesis is playing out in all kinds of weird ways as people just take the piss.

Imagine if you'd told someone any of this 30 years ago, they'd think you were mad.

A friend who was a taxi driver about 10 years ago used to take a special needs child to school and back. What pissed him off was that they were 2 Range Rover's sat in the drive.

[BurntBread]

2 hours ago, Castlevania said:

Not sure if the same or a different survey then asked how much would you personally be willing to pay? And the answer £8 a month. Or a pint and a packet of crisps in London. 

Maybe I'm being unfair, but I suspect very few of those surveyed know how much they are paying currently. A fair few will at least subconsciously think it's currently free.

Actually, thinking about it a bot more, if 50% of those surveyed want to pay more, it's possible that those are the 50% who aren't paying anything now (and are probably getting the most out of the NHS). Therefore it's nice they would be willing to chip in £8 a month.

What is probably less known is that the 50% who are paying will be contributing about £500 a month on average (maybe more).

[Axeman123]

10 minutes ago, belfastchild said:

Bit fucking insensitive after yesterday.

[Castlevania]

23 minutes ago, BurntBread said:

Maybe I'm being unfair, but I suspect very few of those surveyed know how much they are paying currently. A fair few will at least subconsciously think it's currently free.

Actually, thinking about it a bot more, if 50% of those surveyed want to pay more, it's possible that those are the 50% who aren't paying anything now (and are probably getting the most out of the NHS). Therefore it's nice they would be willing to chip in £8 a month.

What is probably less known is that the 50% who are paying will be contributing about £500 a month on average (maybe more).

How many taxpayers are there versus the NHS budget of £137 billion. 
 

I also think most people do not understand numbers in the slightest. Once you’re talking in millions, billions and trillions it’s all the same to the average person - a very big number.

Edited March 27 by Castlevania

[Formerly]

1 hour ago, Democorruptcy said:

Just had a look at Bradford:

 

Explain what I'm missing here please...

Surely, of those currently out of work, the sum of those who have worked in the last 12 months and those who have not worked in the last 12 months should be 100%.

 

They're probably (incorrectly) excluding those who have not worked for longer than 12 months.

[Pip321]

16 hours ago, Errol said:

Gold held completely outside the system will be crucial.

Agree.

At its worst Gold outside the system is inert, tricky to trade, susceptible to theft, doesn’t earn interest.

And yet I imagine there isn’t a billionaire on the planet (well a financial literate billionaire) who doesn’t hold 10% of wealth in gold or similar. 

Gold outside the system isn’t an ‘investment’ it’s a way to protect wealth when they come to take all your money. And it might end up being an inert king term hold until the dust settles. 

And if anything happens to you, you train the kids to say…..”what gold?” 

[Democorruptcy]

3 minutes ago, Formerly said:

Explain what I'm missing here please...

Surely, of those currently out of work, the sum of those who have worked in the last 12 months and those who have not worked in the last 12 months should be 100%.

 

They're probably (incorrectly) excluding those who have not worked for longer than 12 months.

10.8 + 50.7 + 38.5 = 100, I assume people hit a threshold of time that qualifies for never worked. Those have increased since the last census (figure in the bracket) as more stay unemployed for longer and then qualify.

[HousePriceMania]

12 hours ago, Axeman123 said:

Here is a hell of a chart, showing just how concentrated the UK economy is (linking back to my barbershop analogy from the other day):

Now, subtract the bailouts/QE handed to London.