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

[PatronizingGit]

21 minutes ago, Jesus Wept said:

Here it is in full:

 

 

Twat.

 

 

Politicians (well, maybe not some of them) know there is not a 'credit card' as such, but they also know that if politicians said something like 'we cannot run out of money because money is the divisor, not wealth itself, and while we have power over the exact volume of that divisor, it doesnt change the fact that changing that volume does nothing to change the quantity of the goods it is held against/can buy' 

Its an understandable simplification by politicians for an electorate that doesnt know & probably doesnt want to know the nature of money. 

 

Midwits like this simply exploit the deliberate dumbing down by politicians by informing people it is a misuse of words (which it is) & then using that to push a whole other agenda that completely ignores the fact that you are in no better place if you have A trillion 2030 pounds sterling worth the equivalent of £0.01 2024 pounds sterling rather than having £0.01 2030 pounds worth the same as £0.01 2024 pound because your debts have been settled the old fashioned way.

Or you could spend within your means. Its not like the last 25 odd years of not spending in our means has achieved any tangible benefit, aside from enriching the already rich.

 

I dont know, maybe he wants food riots, famine, all the rest. Psycho. 

[Axeman123]

9 minutes ago, Lightscribe said:

Maybe he is trying to get a job in the Erdogan cabinet or is nostalgic for the good times in Zimbabwe.

Some of these people are actual crypto communist, hiding behind all sorts of masks from green to MMT in order to advance the Cloward-Piven strategy of collapsing the current system to install comunism. The rest are useful idiots.

[M S E Refugee]

I came out of my Royal Mail Pension last year and transferred it to HL.

I thought I may as well rejoin, after crunching the numbers it looks like all Postal Worker's will fall out of Salary sacrifice when the NMW rises to £11.44 in April.

When I rejoin I will have to join a lower percentage rate and won't be able to contribute to an Avc.

[RupertT]

22 hours ago, Calcutta said:

The Albanian mafia are probably the top criminal organisation in the world. They're unstoppable, I'd love to know what bank they use.

They're clearly not unstoppable.  I saw a documentary once where Liam Neeson took them on single handedly and beat them.

[Kendo]

21 minutes ago, Lightscribe said:

Well the most frightening thing is as a professor he may be ‘teaching’ others which may explain why the education system is in the state it is and why the US stock market is akin to acting like an NFT ape meme melt up at the moment.

Maybe he is trying to get a job in the Erdogan cabinet or is nostalgic for the good times in Zimbabwe.

More likely he’s a ‘supports the current thing’ NPC, that’s petrified of the status quo changing which will affect his comfy lifestyle. It’s what’s fundamentally gone wrong with the country and is to blame.

Bet he’s got a few BTLs fleecing youngsters, cheers record immigration to pick his micro salads, has private healthcare, and lives out the way of it all in a nice chocolate box village somewhere.

Can’t imagine him digging his own coal out of Durham’s surface deposits, or going rabbiting at 5am in the morning. Self sufficiency terrifies them, which is why they act and say the things they do.

I think he’s also the guy who had a letter published in the Guardian over Christmas (which I posted a link about at the time) in which he claimed our politicians have a duty to use our pensions and savings to build an “economy of hope”.

[Lightscribe]

6 minutes ago, Axeman123 said:

Some of these people are actual crypto communist, hiding behind all sorts of masks from green to MMT in order to advance the Cloward-Piven strategy of collapsing the current system to install comunism. The rest are useful idiots.

Most certainly and how high that goes and to what’s means that’s panning out in the current global economic landscape looks like it’s all going exactly as planned.

But this guy most definitely falls in the useful idiot camp.

[DurhamBorn]

32 minutes ago, Axeman123 said:

I agree.

They place great faith in the idea that the govt never having defaulted on local currency bonds before means markets will always want them. It is impossible to hard default on a currency you print Inflation of course, but inflation of the money supply is a soft/stealth default. When markets catch onto that and only want USD bonds, or insane yields on local currency ones, the spiral starts.

Remove their inflation linked cushy jobs and inflation linked pensions and see what they think.The reason we are collapsing is because so many are protected from reality and so go along with it.The best thing any government could do would be to scrap DB pensions at government and councils etc.He says gilts are savings and then the debt is not real.Lifestyle pension savers found out the last few years its all very real and a third of the lifetimes savings has been stolen to give to bennies and people like him on their pensions.

What idiots like him always miss is there is no asset on the other side of the gilt,because government are using it for consumption spending,not investment.The BOE think that will cause the economy to produce more,but it wont in a distribution cycle when we have to import energy,materials etc.

[DurhamBorn]

16 minutes ago, Kendo said:

I think he’s also the guy who had a letter published in the Guardian over Christmas (which I posted a link about at the time) in which he claimed our politicians have a duty to use our pensions and savings to build an “economy of hope”.

Notice how he wants the state to come and steal my money,not come and do it himself.

[Kendo]

7 minutes ago, DurhamBorn said:

Notice how he wants the state to come and steal my money,not come and do it himself.

If they ever make Taken 4, about taking our money instead of sex trafficking, then I want you in the Liam Neeson role.

[marceau]

2 hours ago, ThoughtCriminal said:

Well, I've found the most retarded economics thread in history.

"We don't really have a national debt, and there's no limit to what a government can borrow."

And this cunt, sorry, "professor" is a chartered accountant. I wouldn't want him doing my books.

The guy is correct... up to a point. All of these numbers are agreed fictions that serve the interests of the participants. 1 + 1 does not need to equal 2 if it no longer serves those interests.

He is also right that pretending that there is some mathematical rule that has been broken (debt/GDP, deficit, maxed-out credit card etc) is fallacious. A bad faith argument used as cover for ideological or power schemes. Few making these arguments would apply them to corporate balance sheets, yet they do so for national structures which are even less constrained by the legalisms of numbers.

As you spotted, he is an accountant; in appearance, behaviour and spirit. The problem with arguing against a fat speccy twat on accounting issues is that it plays to their strengths, and that it drains energy/attention from more substantial  issues. It is classic political bait, and people never seem to tire of getting hooked.

What are the more substantial issues? Nobody with a brain put accountants in charge of anything; not social affairs, not businesses, and certainly not nations. True to type, he gets the accounting identities correct, but completely misses the point. This single sentence dooms the entire thing:

32 minutes ago, Jesus Wept said:

We are instead only constrained by the limits of what we can actually do as a nation. 

This is 100% correct. But it is also very telling that out of the pages and pages of factoids he spews out, the thousands and thousands of words, the only substantial point merits just 17 of them.

The reality is what post after post on here very effectively covers - what we can actually do as a nation is fucked. In terms of the British state, it is fucked permanently. It doesn't matter what legal, economic, procedural or policy changes Uk gov makes; it cannot make multi-cult work, it cannot make multi-racial work, it cannot undo the endless self-inflicted shithole-ification of its cities, no matter how productive they used to be.

In their gross stupidity they created an anti-national nation, there's no way back from it. The remedies to these problems lie outside the British state's identifying boundaries. To implement them would be to dissolve the entire construct. It can't be done, it won't be done. The next 25 years is the story of how this plays out. 'Number' will continue to go up (credit cycles allowing), but it will become increasingly meaningless in the real world.

The fat dork is just a waste of time.

[DurhamBorn]

8 minutes ago, Kendo said:

If they ever make Taken 4, about taking our money instead of sex trafficking, then I want you in the Liam Neeson role.

Opening scene,massuese crying "they have taken everything from me" ,me,"your sister?,daughter?","no my pension,they life styled me and gave it to fat Sharon and the policemans pension who raided me last year".I phone Catherine Mann,"this can end now,you reverse monetising the welfare budget or i will find you".In her husky voice she says "good luck"..............

[spygirl]

1 hour ago, Axeman123 said:

I agree.

They place great faith in the idea that the govt never having defaulted on local currency bonds before means markets will always want them. It is impossible to hard default on a currency you print Inflation of course, but inflation of the money supply is a soft/stealth default. When markets catch onto that and only want USD bonds, or insane yields on local currency ones, the spiral starts.

UK - and any country tgat prints its own currency - cannot will not default.

It just needs to print more, which debases the currency.

They need to ask why uk currency buys less.

[Axeman123]

14 minutes ago, marceau said:

The reality is what post after post on here very effectively covers - what we can actually do as a nation is fucked. In terms of the British state, it is fucked permanently. It doesn't matter what legal, economic, procedural or policy changes Uk gov makes; it cannot make multi-cult work, it cannot make multi-racial work, it cannot undo the endless self-inflicted shithole-ification of its cities, no matter how productive they used to be.

In their gross stupidity they created an anti-national nation, there's no way back from it. The remedies to these problems lie outside the British state's identifying boundaries. To implement them would be to dissolve the entire construct. It can't be done, it won't be done. The next 25 years is the story of how this plays out. 'Number' will continue to go up (credit cycles allowing), but it will become increasingly meaningless in the real world.

I am remember something from "Food of the gods" by Terrance mckenna*, and it has an apt parallel to the above. He describes LSD as a de-conditioning agent, disolving social norms and conditioned patterns of thinking/behaviour wherever it flowed like a solvent. Any group attempting to use the supply of LSD to advance an agenda, from the CIA to biker gangs, found it to be an anti-agenda agent.

What better description for the effects of Multiculturalism and glabalisation?

*A weird non-fiction book that claims essentially all world religions are magic mushroom etc cults that spiralled.

[Yadda yadda yadda]

18 minutes ago, DurhamBorn said:

Opening scene,massuese crying "they have taken everything from me" ,me,"your sister?,daughter?","no my pension,they life styled me and gave it to fat Sharon and the policemans pension who raided me last year".I phone Catherine Mann,"this can end now,you reverse monetising the welfare budget or i will find you".In her husky voice she says "good luck"..............

It will be a bit unexpected when she turns out to be in the Fighting Cocks, Durham.

[Loki]

20 minutes ago, DurhamBorn said:

they life styled me and gave it to fat Sharon 

[marceau]

2 minutes ago, Axeman123 said:

I am remember something from "Food of the gods" by Terrance mckenna*, and it has an apt parallel to the above. He describes LSD as a de-conditioning agent, disolving social norms and conditioned patterns of thinking/behaviour wherever it flowed like a solvent. Any group attempting to use the supply of LSD to advance an agenda, from the CIA to biker gangs, found it to be an anti-agenda agent.

What better description for the effects of Multiculturalism and glabalisation?

*A weird non-fiction book that claims essentially all world religions are magic mushroom etc cults that spiralled.

Civilisational solvent is the drug. The US empire is the manufacturer & pusher, aiming for an easily controlled global Brazil. The 'national' administrations are the clueless and disposable doctors writing the prescriptions. At the end of it all, everyone  gets to live in a favela. A lucky few get a gated compound.

10/10 masterplan guys. 

 

[Loki]

16 minutes ago, Axeman123 said:

s essentially all world religions are magic mushroom etc cults that spiralled.

It sounds like another spin on the "you are nothing but shaved apes" atheist nihilist "philosophy"

[Yadda yadda yadda]

29 minutes ago, marceau said:

In their gross stupidity they created an anti-national nation, there's no way back from it.

In China you expect the state to favour the Chinese. In particular the Han Chinese. In India Indians are favoured. Thais in Thailand. Russians in Russia. Turks in Turkey. In Africa a local tribe will be ascendent.

The USA is a little different but they don't discriminate in favour of nationals. The UK is just following on their coattails. Other western European countries too but not to the same extent. Spain and Italy use migrants as farm slaves. This globalist bollocks will have to end eventually as no-one caught in the system has any loyalty to anything. That is an inherent weakness that coherent countries will exploit.

[Plan-b]

3 hours ago, ThoughtCriminal said:

Well, I've found the most retarded economics thread in history.

"We don't really have a national debt, and there's no limit to what a government can borrow."

And this cunt, sorry, "professor" is a chartered accountant. I wouldn't want him doing my books.

A lesson I learned many years ago at great financial cost - Never ever take financial advice from an accountant.

[marceau]

32 minutes ago, DurhamBorn said:

Opening scene,massuese crying "they have taken everything from me" ,me,"your sister?,daughter?","no my pension,they life styled me and gave it to fat Sharon and the policemans pension who raided me last year".I phone Catherine Mann,"this can end now,you reverse monetising the welfare budget or i will find you".In her husky voice she says "good luck"..............

DOSBODS Taken:

 

[Axeman123]

1 minute ago, Loki said:

It sounds like another spin on the "you are nothing but shaved apes" atheist nihilist "philosophy"

Its more an interesting read to challenge your preconceptions than anything I would place great faith in. It does have the best explanation I have heard for the Hindus and cows thing though.

Best rebuttal (that misses his point):

[Axeman123]

2 minutes ago, Plan-b said:

A lesson I learned many years ago at great financial cost - Never ever take financial advice from an accountant.

The classic example is a yank with an unchrystalised capital gain being advised to wait until it would be taxed at a lower rate as a long term gain, and pays 10% on 6 figures vs 20% on 7 as a result.

[Axeman123]

Reading the link from earlier about stealing Russia reserves, it jumps out at me that Russia has 40% of GDP going to defence ie at cold war levels. This is dismissed as the only reason their economy hasn't collapsed, and as being an unsustainable way to stall until the US elections.

What isn't said is that the US couldn't do the same, because cold war military spending would mean cold war levels of taxes and benefit spending! 

[Castlevania]

More clown takes from Richard Murphy with regards to Rishi Sunak’s tax return. He seems to think that people would willingly pay 57% tax and not fuck off offshore.
 

 

[Noallegiance]

My parents informed me that a house we nearly rented at £1600pm a year ago has been put on the market for £550k.

Assuming a 10% deposit and 25 years:

At a 4.5% it's £2750pm

Total repayment £826,087

At 6% it's £3190pm

Total repayment £957,967

These figures are a fucking joke.

 

If I borrowed £100k it would be £556pm to repay £167,683.

Prices this high, along with the well-documented (here) government theft and spending have destroyed what could be a humming British real economy. Imagine the available liquidity without what's been done to us for the last 30 years.