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

[Harley]

6 minutes ago, Pip321 said:

It wouldn’t surprise me if a traditionalist right leaning capitalist on this thread and me as a traditionalist leftie drafted policies up and they would overlap by 97%.

Because politics, unlike common decency, sense, etc, focusses on the fluff while it quietly takes the underlying for its patrons.

[HousePriceMania]

11 hours ago, Chewing Grass said:

The Yankee Bastard Company I work for has been sold to Jewish Banker Private Equity.

I know someone who has been made redundant after their company was taken over by P.E.

The people they are getting rid of are the ones who are doing actually profitable work.

They are quite literally running it into the ground and at some point will go into administration.

I can only assume this is deliberate

[Harley]

4 minutes ago, One percent said:

They've already started on those who are actually productive. 

Yes.  And now those who don't comply work to feed their system, then the independents with teal wealth, and then the delusional with fake wealth (e.g. housing).  And finally, as always, the cheerleaders, those useful fools.  Order may vary depending on opportunity.

Edited March 28 by Harley

[headrow]

14 hours ago, Harley said:

I trust everyone is close to finalising things for the end of the tax year and can look back on an efficient year with savings ready to donate to good causes.

I'm sticking £20k in a cash ISA on the first day of the new tax year. I know there are loads of stocks yielding way more than the 4.45% I'll get from Barclays but I've decided I can do without the hassle of pouring over where to invest it. I'm sure I'm getting lazier as the days get longer

Edited March 28 by headrow

[Errol]

13 minutes ago, headrow said:

I'm sticking £20k in a cash ISA on the first day of the new tax year. I know there are loads of stocks yielding way more than the 4.45% I'll get from Barclays but I've decided I can do without the hassle of pouring over where to invest it. I'm sure I'm getting lazier as the days get longer

You'll be losing a large amount of value then, given the ongoing and systemic destruction of paper currencies.

[Frank Hovis]

24 minutes ago, headrow said:

I'm sticking £20k in a cash ISA on the first day of the new tax year. I know there are loads of stocks yielding way more than the 4.45% I'll get from Barclays but I've decided I can do without the hassle of pouring over where to invest it. I'm sure I'm getting lazier as the days get longer

 

Low fee tracker funds?

No hassle there.

[Sasquatch]

10 hours ago, Long time lurking said:

 

 

There are more disgruntled people out there than may be apparent. We live in a rural Tory voting area but it's not loads of toffs but farmers, self employed people, owner businesses etc. Big Tory majority at the last election, big Brexit leave vote.

Had a long chat with the owner of our local garage yesterday. Proper mechanic, covered in oil, big wrench in his hand. Weaved through lots of topics including the rise of the  'far' right, Brexit, failure to deal with immigration, strength of sterling, useless political parties and politicians, coming great depression version 2, etc etc.

He is not happy. I didn't ask him who he'd vote for but I would guess Reform.

Similar conversations with fellow villagers on a regular basis. 

This could be a very interesting election. A likely win for Labour but perhaps with a relatively poor % share of the vote. Their honeymoon period will be very short indeed.....

 

[jamtomorrow]

52 minutes ago, Pip321 said:

You need to motivate and reward otherwise it becomes a race to the bottom. Also those who choose not to work need to be dealt with brutally otherwise everyone suffers. 

Amen to that and so on, I too have a work ethic and was brought up to believe in rewards bearing some relation to contribution.

But Dr. Tim's point is especially sobering in that regard - the work ethic is a necessary but not sufficient condition for prosperity.

[headrow]

13 minutes ago, Frank Hovis said:

 

Low fee tracker funds?

No hassle there.

I've got far too much exposure to the stock market. I want to get it in in ISA on the first day , I certainly don't want to be putting it in stocks when they are at their record high. They could go up 20% of course but I'm of the opinion that flat from here would be quite good , therefore a cash ISA it is.

[Noallegiance]

1 hour ago, Harley said:

Sounds like gold!  Up 650% in just 20 years in GBP. 

PS:  Or rather fiat down 650%.

That's my kind of maths right there.

[wherebee]

55 minutes ago, jamtomorrow said:

Amen to that and so on, I too have a work ethic and was brought up to believe in rewards bearing some relation to contribution.

But Dr. Tim's point is especially sobering in that regard - the work ethic is a necessary but not sufficient condition for prosperity.

the work ethic is something you should celebrate.  What you have to do - as I have done - is fine tune that ethic to working for YOU and developing assets which are not taxable, non seizable, and non visible.  I learnt this in Hong Kong - the outside of apartments was often shite, but the inside was golden temple.  3000 years of the emperor taking your shit if you show it has developed the chinese mind very smartly, I guess.

In the west, for example, if you expand a property, your taxes often go up.  If you spend the same money on increasing your insulation and heating effectiveness by 300%, the council never knows and the money you save is untaxable...

[Long time lurking]

1 hour ago, Sasquatch said:

He is not happy. I didn't ask him who he'd vote for but I would guess Reform.

Pissing in the wind with them they are nothing more than a Tory damage limitation party ,they are trying to home the Tory red wall to prevent them from returning to team red ,you could argue UKIP was all about the same but a home for disgruntled Labour voters 

IMO if the people want to send a message or actually achieve something vote for anyone bar the main parties ,if they really want to scare the shit out of the establishment vote for Galloway`s party 

[Long time lurking]

This is one step away from rationing ,it`s actually voluntary rationing 

 

[M S E Refugee]

28 minutes ago, Long time lurking said:

Pissing in the wind with them they are nothing more than a Tory damage limitation party ,they are trying to home the Tory red wall to prevent them from returning to team red ,you could argue UKIP was all about the same but a home for disgruntled Labour voters 

IMO if the people want to send a message or actually achieve something vote for anyone bar the main parties ,if they really want to scare the shit out of the establishment vote for Galloway`s 

With the benefit of hindsight over the last few years, amazingly Jeremy Corbyn is far more palatable than what we've had to put up with.

[Errol]

FYI - US markets also closed tomorrow. Open on Monday.

[desertorchid]

46 minutes ago, wherebee said:

the work ethic is something you should celebrate.  What you have to do - as I have done - is fine tune that ethic to working for YOU and developing assets which are not taxable, non seizable, and non visible.  I learnt this in Hong Kong - the outside of apartments was often shite, but the inside was golden temple.  3000 years of the emperor taking your shit if you show it has developed the chinese mind very smartly, I guess.
 

Ironically, in HK the mafia state take only a small portion of your earnings. No sales tax, no inheritance tax, no capital gains tax etc etc

But yes, a general ancestral leaning towards instability does foster hoarding of real assets.

[sancho panza]

13 hours ago, baffledbyzirp said:

Critically the system requires liquidity. Any shock such as a bank failure will set the chain reaction in motion. Thus we have financialised education, health, the public sector, property, sport, the old eastern block, utilities, old age, local taxation etc. via ever expanding credit. The system is a ratchet, only capable of moving in one direction. The gig is up. The end is inevitable. Buy gold and hibernate! GLA sorry to be so pessimistic. 

What a depressing reply BBZ.WHen you put it like the above,it really does present a fait accompli.the wave is going to wash over,we're jsut picking how we hit the wave.

This converasation has made me think of selling our recently purcahsed BT(£1.05),its out only UK centric stock but reading my inital summary of the budget pie charts and your response,and BT running in a winner is like winning the lottery but finding your gonna get paid in Zim dollars.....

Anecdotal alert but I was at the park with the kids two days back,chatted to a bloke I've known sometime.turns out he sa mortgage udnerwriter.He started coming out with the old 'rates are gonna come down' routine,so I dropped a few uqestions in about CPI/RPI mismeasurements,GDP calcualtions,then I started asking him his views on the state of many High St bank balance sheets ie stage 1/2/3 debts,Natiowniwdes having £40bn in IO BTL laons(enough to sink them without their dog poo resi mortgage book imho).

ong and short of it is,he really didn't have a clue bless him.He goes 'I thought you were a paramedic'.........says a lot when the amublance service know more about teh systemic risks to the banking system than the people overseeing loan issuance.....but it's where we are.

BT will get sold this afternoon and used to buy ecora

[M S E Refugee]

I have sold more Gold to buy Silver, I must admit my arse is a bit twitchy,hopefully Silver will wake up soon.

[sancho panza]

13 hours ago, AWW said:

And the NUM behaved like cunts to all the support staff working at the pits who were in a different union that wasn't striking and had to cross the picket to get paid and feed their families. The miners all keep warm and we'll fed in the church halls while calling the cleaners and office staff scabs and laughing when they sold their cars and pawned their jewellery to pay the mortgage. The NUM did more to divide pit villages than Maggie ever did.

you made me read up on arthur.I ahve expereince of Unions at work and genuinely,I've seen thigns where you question who theyre' working for as it's clearly not the ordinary working man/woman.

NHS functions using a lot of bullying that they wouldnt get away with in the private sector(better manangers in the main,proactive rather than reactive etc etc).My boys jsut had grommets surgery.on the wifes private healthcare,if he was NHS hed be waiting 6 motnhs to a year with shocking hearing.at the same time they're spunking loads(think £25x24x7=£4200 er week) of moeny on 24/7 carers for people living in flats who(imho) are more than capacble of looking after themselves but choose a life of dependecny over a life of independence.just my views.

anyway back on point.scargill ,hypocrite you say.made me wiki him.incredbile.

appreciate your insights into how he split pit villages.my mums from one.

https://en.wikipedia.org/wiki/Arthur_Scargill

Legal disputes

In 1993, Scargill tried to use Thatcher's flagship Right to Buy scheme to buy a flat on the Barbican estate in central London. His application was refused because the flat in the Barbican Estate's Shakespeare Tower was not Scargill's primary residence.

2 hours ago, Sasquatch said:

He is not happy. I didn't ask him who he'd vote for but I would guess Reform.

Similar conversations with fellow villagers on a regular basis. 

This could be a very interesting election. A likely win for Labour but perhaps with a relatively poor % share of the vote. Their honeymoon period will be very short indeed.....

 

agreed,as ever you get all the 'waste of time voting reform'/'plastic tories'.there are a lot of very p1ssed off people out therre

doesnt really matter their politics but theyre likely to be the biggest recipient of swtiching tories and righties like myself who wouldnt vote for a maintream party.

[M S E Refugee]

Francis has just confirmed my Silver bias

 

[Virgil Caine]

3 hours ago, HousePriceMania said:

I know someone who has been made redundant after their company was taken over by P.E.

The people they are getting rid of are the ones who are doing actually profitable work.

They are quite literally running it into the ground and at some point will go into administration.

I can only assume this is deliberate

A prime example that it is not just the state that is extracting money from peoples productivity. As this mornings news shows this has been going on for decades in the water industry which is slowly going bust leaving a mountain of debt run up on the back of its historical assets by the likes of Macquarie. As I mentioned elsewhere it is not just the expanding government that is undermining the west. Financialised capitalism has done lots of the heavy lifting in destroying it as well.

Edited March 28 by Virgil Caine

[Long time lurking]

46 minutes ago, M S E Refugee said:

With the benefit of hindsight over the last few years, amazingly Jeremy Corbyn is far more palatable than what we've had to put up with.

I think we are close to a turning point ,more and more can see they have fell for promises that never came to fruition more and more can see what they have done compared to what they said they would do

The hypocrisy is now off the scale take below it was two or there days ago the USA made that threat to Pakistan 

 

[Long time lurking]

3 minutes ago, M S E Refugee said:

Francis has just confirmed my Silver bias

 

Buy far the largest buyer of silver, is industry ,it`s an industrial metal ,that don`t mean prices could not rise sharply but the chances of it maintaining that value without sustained inflation is slim 

[M S E Refugee]

2 minutes ago, Long time lurking said:

Buy far the largest buyer of silver, is industry ,it`s an industrial metal ,that don`t mean prices could not rise sharply but the chances of it maintaining that value without sustained inflation is slim 

The Indians seem to be buying Silver hand over fist at the moment.

[Plan-b]

3 hours ago, Pip321 said:

Also those who choose not to work need to be dealt with brutally otherwise everyone suffers.

Careful there young Pip I resemble that statement 

From what you've said on here in the past you have done very well out of this country, and fair play to you for doing it! - You saw the game many years ago and set your stall out and with some luck and good judgement became a serial landlord and retired minted at 50 (Hoping to be correct here its all from memory).

The game has changed and unless you have the brains or connections to get a good job or something going your best way forward is to get your yourself on the Bennies and milk it for all it's worth, bang the kids out and keep going as long as you can and maybe have some side hustles.

It's the governments, lords, and the system that's really the problem they are the biggest workshy scroungers of all.