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

[jamtomorrow]

1 hour ago, Onsamui said:

Surely silver/gold should run, particularly silver coinage?

Gold ETFs are supposedly bleeding according to the hype, but hard to say whether that's significant here without knowing what a historically typical gold ETF flow rate is. Article quotes absolute numbers, whereas I'd like to know how unusual these flows are.

https://www.zerohedge.com/crypto/bitcoin-top-1-trillion-gold-etfs-dumped-favor-crypto

[Pip321]

Spoke to my IFA yesterday (I know, I know) but his anecdotal was interesting. 

Firstly my question about funds was right…..there is often a delay with prices coming through and in many ways that’s why they delay purchases for 24/48 hours. Ie if both the execution and the price offered are delayed they compensate each other slightly. So effectively whilst it’s like buying in slow motion it does mitigate (slightly) the delay. Ie market dips, I buy and by the time it’s executed the dip also hits the fund (hopefully 🤦🏻‍♂️) 

Anyhoo…

The anecdotal is many clients are beginning to ask about moving from cash and even some are now starting to move from cash…..expectations that inflation is softening and interest rates will fall over the next 12 months so starting to look for better returns. Very generic investments though. Melt up? 

What I found particularly interesting is the narrative, the timeline, the mindset if you like. I worry about fiat, getting into gold, end of empire stuff when picking investments…..but many just invest ‘now’ and review periodically. Bonds caught many out but maybe not the ones who kept reviewing things and reacting in a timely manner.  Even the PruFund Growth moved more away from Bonds before the crunch. 

So they might be very wrong, have no idea about the big picture but I guess if they keep on top of what’s going on and react they may do fine. ie just following the market and bailing when it starts to wobble. What they won’t have is EM or PM exposure….none. 

Whether they react when the big alarms start going off….is another matter. That what this thread does, it’s adds the knowledge of what is happening from a wider perspective and many normies don’t believe a collapse could happen.

But it’s interesting many can do ok even in wobbly times but from a differing perspective. The BK will be the determination though, that’s when they get crushed. 

Edited February 15 by Pip321

[DurhamBorn]

1 hour ago, Lightscribe said:

I’ve fully allocated with Sibanye so I’ll just sit and wait that one out.

Nothing seems to be phasing Harmony at the moment so no opportunity to re-buy allocations I’ve sold currently.

One I’m looking to get back into after selling to buy more BAT in the dip the other month is Eldorado.

If it pulls back to my previous October buy in price, I’ll be going in heavy.

The other one i nearly bought yesterday,but waiting on a bit.Sibanyes results wont be pretty i suspect later this month or they would not of raised £500mill in convertible bonds last Sept,but likely they want to keep the balance sheet clean to build out their new mines,or might have their eyes on a target.

[headrow]

As expected, Centrica PLC (LSE:CNA)’s earnings were hit by lower commodity prices in 2023, with the British Gas owner’s adjusted operating profit falling 17% year on year to £2.75 billion.

This adjusted result excludes the disposed Spirit Energy Norway assets in 2023, and the impact of unrealised hedging losses in 2022.

Retail profit rose to £800 million, driven by a return to profitability in British Gas Services & Solutions and cost recoveries in British Gas Energy.

However, profits from Optimisation and Infrastructure activities were affected by lower commodity prices and volatility, as well as the introduction of the Electricity Generator Levy in Nuclear operations.

Free cash flow stood at £2.2 billion, slightly down from £2.5 billion in the previous year, and the company ended the year with a robust balance sheet and adjusted net cash of £2.7 billion, up from £1.2 billion in 2022.

Chief executive Chris O’Shea commented: “We are pleased to report that this strong underlying operational performance has continued into early 2024. As you would expect, sharply lower commodity prices and reduced volatility will naturally lower earnings in comparison to 2023 as we return to a more normalised environment.

“Our performance over the past year has reinforced our confidence in delivering against our medium-term sustainable profit ambitions and continuing to create value for shareholders.”

O’Shea touted Centrica’s voluntary customer support policies: “At the start of the energy crisis we committed to contribute a material sum from British Gas Energy and Bord Gáis Energy profits to support our customers.

Whilst we are starting to see material commodity price falls, today we have committed another £40 million, bringing the total voluntary customer support to £140 million, more than any other supplier.”

Shares opened 0.3% higher at 134.76p

[ThoughtCriminal]

10 hours ago, honkydonkey said:

X axis? Would that highlight they're comparing 1.5 months with almost 3 months. Fuck all correlation. 

You're spoiling the bit! 🙄😂

[DurhamBorn]

8 minutes ago, Pip321 said:

Spoke to my IFA yesterday (I know, I know) but his anecdotal was interesting. 

Firstly my question about funds was right…..there is often a delay with prices coming through and in many ways that’s why they delay purchases for 24/48 hours. Ie if both the execution and the price offered are delayed they compensate each other slightly. So effectively whilst it’s like buying in slow motion it does mitigate (slightly) the delay. Ie market dips, I buy and by the time it’s executed the dip also hits the fund (hopefully 🤦🏻‍♂️) 

Anyhoo…

The anecdotal is many clients are beginning to ask and even move from cash…..expectations that inflation is softening and interest rates will fall over the next 12 months so starting to look for better returns. Very generic investments though. Melt up? 

What I found particularly interesting is the narrative, the timeline, the mindset if you like. I worry about fiat, getting into gold, end of empire stuff when picking investments…..but many just invest ‘now’ and review periodically. Bonds caught many out but maybe not the ones who kept reviewing things and reacting in a timely manner.  Even the PruFund Growth moved more away from Bonds before the crunch. 

So they might be very wrong, have no idea about the big picture but I guess if they keep on top of what’s going on and react they may do fine. ie just following the market and bailing when it starts to wobble. What they won’t have is EM or PM exposure….none. 

Whether they react when the big alarms start going off….is another matter. That what this thread does, it’s adds the knowledge of what is happening from a wider perspective and many normies don’t believe a collapse could happen.

But it’s interesting many can do ok even in wobbly times but from a differing perspective. The BK will be the determination though, that’s when they get crushed. 

I think the lack of exposure to EMs and inflation loving areas will be what does for most people.The set up is incredible in macro terms and contrarian terms,getting them both together is rare.Very low valuations,macro going their way,massive under investment from the rest of the world etc.The bond smack really hit people in the usual 60/40s against inflation,terrible,a big roll over in US bubble stocks could be round two of that hit.The story of course is how this is destroying the savings of workers while the public sector retired just rake in more and more.That,bennies and 3rd world invasion are whats doing for the UK.

[headrow]

I see Close Brothers is getting another pummelling today , down nearly 20% when it cancelled it's dividend policy.

All to do with car financing. Lloyds Bank is balls deep in that game too.

[Democorruptcy]

44 minutes ago, Pip321 said:

Spoke to my IFA yesterday (I know, I know) but his anecdotal was interesting. 

Firstly my question about funds was right…..there is often a delay with prices coming through and in many ways that’s why they delay purchases for 24/48 hours. Ie if both the execution and the price offered are delayed they compensate each other slightly. So effectively whilst it’s like buying in slow motion it does mitigate (slightly) the delay. Ie market dips, I buy and by the time it’s executed the dip also hits the fund (hopefully 🤦🏻‍♂️) 

Anyhoo…

The anecdotal is many clients are beginning to ask about moving from cash and even some are now starting to move from cash…..expectations that inflation is softening and interest rates will fall over the next 12 months so starting to look for better returns. Very generic investments though. Melt up? 

What I found particularly interesting is the narrative, the timeline, the mindset if you like. I worry about fiat, getting into gold, end of empire stuff when picking investments…..but many just invest ‘now’ and review periodically. Bonds caught many out but maybe not the ones who kept reviewing things and reacting in a timely manner.  Even the PruFund Growth moved more away from Bonds before the crunch. 

So they might be very wrong, have no idea about the big picture but I guess if they keep on top of what’s going on and react they may do fine. ie just following the market and bailing when it starts to wobble. What they won’t have is EM or PM exposure….none. 

Whether they react when the big alarms start going off….is another matter. That what this thread does, it’s adds the knowledge of what is happening from a wider perspective and many normies don’t believe a collapse could happen.

But it’s interesting many can do ok even in wobbly times but from a differing perspective. The BK will be the determination though, that’s when they get crushed. 

An IFA who didn't tell you people were putting cash into investments now, would be like an estate agent telling you not buy a property because prices are falling.

[NogintheNog]

11 hours ago, ThoughtCriminal said:

Ok, I'm calling it: it's time to sell everything 😂

Greetings from NZ. At some point in the future I'm sure we'll get a 1929 rerun, could start next week, might not happen for decades. But as I've stated in the past comparisons are meaningless as we were on a Gold standard in 1929 but not now. I think that we have a way to go yet in the ability of central banks to keep the plates spinning, sadly! Currency debasement keeps the rich in the money while it hollows out the middle class, and Andrew Bailey and his cohorts know exactly what they are doing.

I've held some of the pm miners, streamers and gold for years, about 10% of my wealth. It's been a good insurance against the likes of Bailey and his ilk. But as DB says, not for Widows and orphans!

[Majorpain]

https://capx.co/ofcom-has-quiety-taken-advantage-of-brexit/

 

Quote

 

Ofcom will now allow ISPs to offer a more comprehensive array of services. This includes premium quality retail offerings and specialised services prioritising specific applications or content. In practice, this could help the development of driverless cars (that require low latency and high reliability) and virtual reality headsets or enable priority for emergency services.

Ofcom will also permit ISPs to use more advanced traffic management techniques in congested contexts like public transport or major events. It will even allow zero-rating, whereby certain websites are not counted towards a customer’s overall data allowance. This means users will be provided free access to the likes of educational resources and essential Government websites.

These changes mean the internet market is becoming much less one-size-fits-all. Under the previous rules, all ISPs were required by law to offer an identical service, limiting experimentation and innovation. Earlier efforts to diversify were blocked, such as Vodafone’s plan to provide unlimited mobile streaming packages with lower-quality compressed video. This sort of package and many other specialised services are now possible.

 

@DurhamBorn

They kept it quiet, but Ofcom has dipped its toe in the water of meddling with net neutrality.  

[ThoughtCriminal]

10 hours ago, sancho panza said:

ALlistair Heath goes full basement dweller,MSM been nipping down ehre in theur tea breaks?

https://www.telegraph.co.uk/news/2024/02/14/for-the-first-time-im-beginning-to-think-britain-is-finishe/

For the first time in my life, I’m now beginning to think Britain is finished

The country’s self-image as tolerant, decent and hard-working is being smashed. It’s only going to get worse

Britain’s decline over the past 25 years has been staggeringly rapid. Almost everything is getting worse, and almost nothing is getting better. Our public and private institutions are broken, presided over by an incompetent, selfish and narcissistic ruling class. Living standards, when adjusted properly for living and property costs, are declining. 

Even the simplest things don’t work any longer. Queuing, scarcity and congestion are rife, our infrastructure is embarrassingly poor, and the honest and hardworking face endless bureaucratic battles to obtain what they are due. Free riding, crime, disorder, fraud, littering and generalised rule-bending are rife, and all too often tolerated by apathetic citizens and an indifferent state. Britain’s residual virtues, our individualism, independence of mind, tolerance and openness, uniquely appealing features of our national character, are fading. 

Like a frog in boiling water, few saw the full scale of the decline coming until it was too late, and those who did were ridiculed by the bien-pensant. Yet even in 2024, when millions now realise that Britain is on the wrong track, there is no hope of meaningful improvement. The Tories have been abysmal, but Labour will be even worse: Keir Starmer will double down on the social-democratic and culturally nihilistic policies tested to destruction by the Conservatives.

 

 

In the 2000s, Britain had a particular idea of itself: a country of post-Thatcherite property-owners which reconciled modernity and tradition, globalisation and national self-determination, low-tax dynamism and fairness, where you didn’t need IDs to vote, where MPs weren’t attacked by screaming mobs, and where, finally, racism was increasingly a thing of the past. We saw ourselves as a socially mobile, law-abiding land of high trust, low corruption, the rule of law, improving race relations and religious toleration: a uniquely open society and a model to the Western world. 

Such a vision is now largely obsolete. An Englishman’s home was his castle, making a huge difference to our national psyche, until our deliberate policy of rationing new housing at a time of mass immigration robbed the under-40s of the chance of owning anything of their own. “This is a free country”, we used to maintain when presented with another idiotic proposal to control us, but that too is over, killed off by the woke war on free speech, the jailing of Christian preachers, the sugar tax, the surveillance society and the Covid lockdowns. 

 

 

In narrow GDP growth terms, we continue to outperform the true laggards on the continent, as Brexiteers correctly predicted, but that should be no consolation. Our manufacturing sector is being priced out of global markets by the rush to net zero, our energy policy is a hideous farce, our misregulated City is in decline, and our tax system an absurd conspiracy against hard work and merit, with marginal tax rates back at 1970s levels for some. 

The socialist NHS, despite massive increases in funding, is a horror show, and one of the main reasons not to live in the UK. Some 5.6 million adults are on out-of-work benefits, and yet immigration is running at extraordinary levels. Our Armed Forces have been slashed, and are now being subject to a woke takeover. 

 

He doesn't seem to realise that what he calls intolerance and racism were a key part of what made the country great. 

[Pip321]

28 minutes ago, Democorruptcy said:

An IFA who didn't tell you people were putting cash into investments now, would be like an estate agent telling you not buy a property because prices are falling.

Good point…I agree. He gets paid whether I am in cash or equities….but I take your point completely, his narrative will always be bias.

I will get rid of the IFA soon but it’s helpful if/when I transfer pension to keep him for a little longer because it’s free if he’s onboard (and some pensions need IFA to effect transfer…what a scam).

As an aside…I know another IFA as a friend as he is a real Dosbods type…ie Russia, Gold, shit show, bennies, vaccine, politics is wank etc. He admits that doesn’t align with his job but 99% is product, tax, cash management type advice which is fine…IFAs are careful not to recommend ‘specialist funds’ as such. Its always ‘a generic balance’ and matching the customers narrative around risk and the customers view of world. A generic fund that plummets is easier to defend 😉

[marceau]

3 minutes ago, ThoughtCriminal said:

He doesn't seem to realise that what he calls intolerance and racism were a key part of what made the country great. 

Heath is a GDP-brained slaphead. Every part of his belief system has contributed to this mess.

His dream is simply to build a better ant colony, his solutions involve digging the hole even deeper. Fuck him.

[Sasquatch]

Following up @sancho panza's post citing the Telegraph article regarding the UK going down the pan, our local council is leading the way it seems. When they can be bothered to to go into work, they are sat in their fancy new office block whilst they they fail to carry out basic services like collecting the bins.

Our recycling collection has been a little erratic and now the garden waste bin collections appear to have stopped. One of our neighbours contacted the council and was told "unfortunately the brown bin collections have been suspended and at the moment we don't know when they are starting back as we are continuing to experience issues with our kerbside collection driver availability"

I mean, this is just a bloke sat at on his backside driving a lorry up and down streets. Not exactly rocket science.

And, don't talk to me about the planning department.......

[Pip321]

10 minutes ago, Sasquatch said:

Following up @sancho panza's post citing the Telegraph article regarding the UK going down the pan, our local council is leading the way it seems. When they can be bothered to to go into work, they are sat in their fancy new office block whilst they they fail to carry out basic services like collecting the bins.

Our recycling collection has been a little erratic and now the garden waste bin collections appear to have stopped. One of our neighbours contacted the council and was told "unfortunately the brown bin collections have been suspended and at the moment we don't know when they are starting back as we are continuing to experience issues with our kerbside collection driver availability"

I mean, this is just a bloke sat at on his backside driving a lorry up and down streets. Not exactly rocket science.

And, don't talk to me about the planning department.......

EXACTLY the same for my area….including a new big building which is mostly empty cos every fucker works from home.

I told the council once about an empty property that I was selling and set up the DD via phone. It never went out. 

Due to family bereavement (dreadful 2023) I didn’t have the inclination or the energy to tell them again…I had an acknowledgment email etc and just thought bollocks, see them in court. 

I got the summons and rang them….no answer. Whilst the phone continued to ring I put my pods in and I walked round to the new empty massive £10m office. I asked reception to see someone and they said it’s a ring only service. I played my phone on loud and explained no answer for 1 hour…

I was told I could have an appointment on Wednesday mornings…at this point I lost it. A lady came down (who I knew) and took me outside.🤦🏻‍♂️😆.  Sheadmitted that she was going to retire from the bank but instead decide to work at the council and it was like retiring.  

Later a chap rang…of course it was a 2 minute thing to sort, DD went out and infact I paid the whole council tax for the year to avoid pissing about. 10 days later the house sold, I requested a refund which they had to send me. (Received fairly quick)…more admin for them. 

I now don’t let them get away with anything….and I drop emails when a bin isn’t collected etc and they need to reschedule, if they don’t I email them again. (All email cos that’s 2 minutes only if my time).

Systemic collapse feel very close (or beyond) in some areas. 

[wherebee]

40 minutes ago, ThoughtCriminal said:

He doesn't seem to realise that what he calls intolerance and racism were a key part of what made the country great. 

Yes indeed, I thought that as well.

He misses the point that much 'racism' is actually just 'protecting your own people's wealth and security' by discriminating against outsiders.

You can't have a Britain of the 20th century without protectionism on a social front.

[Lightscribe]

10 hours ago, sancho panza said:

ALlistair Heath goes full basement dweller,MSM been nipping down ehre in theur tea breaks?

https://www.telegraph.co.uk/news/2024/02/14/for-the-first-time-im-beginning-to-think-britain-is-finishe/

For the first time in my life, I’m now beginning to think Britain is finished

The country’s self-image as tolerant, decent and hard-working is being smashed. It’s only going to get worse

Britain’s decline over the past 25 years has been staggeringly rapid. Almost everything is getting worse, and almost nothing is getting better. Our public and private institutions are broken, presided over by an incompetent, selfish and narcissistic ruling class. Living standards, when adjusted properly for living and property costs, are declining. 

Even the simplest things don’t work any longer. Queuing, scarcity and congestion are rife, our infrastructure is embarrassingly poor, and the honest and hardworking face endless bureaucratic battles to obtain what they are due. Free riding, crime, disorder, fraud, littering and generalised rule-bending are rife, and all too often tolerated by apathetic citizens and an indifferent state. Britain’s residual virtues, our individualism, independence of mind, tolerance and openness, uniquely appealing features of our national character, are fading. 

Like a frog in boiling water, few saw the full scale of the decline coming until it was too late, and those who did were ridiculed by the bien-pensant. Yet even in 2024, when millions now realise that Britain is on the wrong track, there is no hope of meaningful improvement. The Tories have been abysmal, but Labour will be even worse: Keir Starmer will double down on the social-democratic and culturally nihilistic policies tested to destruction by the Conservatives.

 

 

In the 2000s, Britain had a particular idea of itself: a country of post-Thatcherite property-owners which reconciled modernity and tradition, globalisation and national self-determination, low-tax dynamism and fairness, where you didn’t need IDs to vote, where MPs weren’t attacked by screaming mobs, and where, finally, racism was increasingly a thing of the past. We saw ourselves as a socially mobile, law-abiding land of high trust, low corruption, the rule of law, improving race relations and religious toleration: a uniquely open society and a model to the Western world. 

Such a vision is now largely obsolete. An Englishman’s home was his castle, making a huge difference to our national psyche, until our deliberate policy of rationing new housing at a time of mass immigration robbed the under-40s of the chance of owning anything of their own. “This is a free country”, we used to maintain when presented with another idiotic proposal to control us, but that too is over, killed off by the woke war on free speech, the jailing of Christian preachers, the sugar tax, the surveillance society and the Covid lockdowns. 

 

 

In narrow GDP growth terms, we continue to outperform the true laggards on the continent, as Brexiteers correctly predicted, but that should be no consolation. Our manufacturing sector is being priced out of global markets by the rush to net zero, our energy policy is a hideous farce, our misregulated City is in decline, and our tax system an absurd conspiracy against hard work and merit, with marginal tax rates back at 1970s levels for some. 

The socialist NHS, despite massive increases in funding, is a horror show, and one of the main reasons not to live in the UK. Some 5.6 million adults are on out-of-work benefits, and yet immigration is running at extraordinary levels. Our Armed Forces have been slashed, and are now being subject to a woke takeover. 

 

Things like this don’t really help them quell  ‘conspiracy theorists’

 

[DurhamBorn]

37 minutes ago, Pip321 said:

Good point…I agree. He gets paid whether I am in cash or equities….but I take your point completely, his narrative will always be bias.

I will get rid of the IFA soon but it’s helpful if/when I transfer pension to keep him for a little longer because it’s free if he’s onboard (and some pensions need IFA to effect transfer…what a scam).

As an aside…I know another IFA as a friend as he is a real Dosbods type…ie Russia, Gold, shit show, bennies, vaccine, politics is wank etc. He admits that doesn’t align with his job but 99% is product, tax, cash management type advice which is fine…IFAs are careful not to recommend ‘specialist funds’ as such. Its always ‘a generic balance’ and matching the customers narrative around risk and the customers view of world. A generic fund that plummets is easier to defend 😉

Its an incredible business.Get some suckers in with £250k inheritance plus a £250k pension.Get them to transfer to the IFA,he then pretty much builds a 60/40 portfolio,the same as for all their other clients in the same bracket (they just alter the bond to equity mix depending on age etc),takes him 15 minutes.The aim is to get 6% growth  year and take 1.5% of it in fees.Boomer client takes £20k a year and the £500k stands still,and they think doing a good job that IFA.Of course the IFA is getting a third of what the client is for 15 minutes work a year.Get the client in for an hour once a year.Keep them in same funds or a small tinker,send them on their way.Of course the last few years bond collapse will of hit a lot of clients,down 20% then two or three years 4% drawdowns will of taken a third off many of them.

The one thing i will say for them is if you have a dozy relative your leaving money to,or comes into it,they do at least get them invested in a broad range.I had to use one for a DB pension transfer and has the play the game to get it done where i flashed them a small part of my portfolio  and said id transfer that to them as well once pension was done.Of course i launched a transfer on them the hour the pension money landed.

[nirvana]

2 hours ago, Pip321 said:

there is often a delay with prices coming through and in many ways that’s why they delay purchases for 24/48 hours

what sort of market does that? I'd run a fekkin mile from it......they can manipulate the shite out of the price in that time...

no market should be that 'opaque'.....

[marceau]

https://theupheaval.substack.com/p/the-rise-of-the-right-wing-progressives

From substack, some food for thought, for those so inclined.

It increasingly seems like there's a trap waiting out there for would-be reformers of this system. I sincerely hope that in the hunt for a way out from our predicament, we don't end up falling into an even deeper hole. The dreams of the 'techno-optimists' may be a long way off, but the mindset is thoroughly embedded on the 'right' and has been since the Milton Friedman/Thatcher apex. This mindset is GDP-brain. Alistair Heath is a fine example of it, Milei is another. Means mistaken with ends; the rules of the IMF as a human ideal.

Bundling up a desired 'x' with an undesired 'y' is a very good control mechanism. Wages and living standards for the working class as 'x', but multi-racialism as 'y'. Patriotism as 'x', with dumbass foreign wars as 'y'. Brexit sovereignty as 'x' but non-eu migration as 'y'.

The 'x' here appears to be an escape from the insanity of progressivism, but end destination for 'y' is a human ant colony. We've got to be very careful. If it's a choice between a CCP-style human work hive and fat Shaz and the bennies crew, I'd vote for fat Shaz.

Edited February 15 by marceau

[DurhamBorn]

1 hour ago, Majorpain said:

https://capx.co/ofcom-has-quiety-taken-advantage-of-brexit/

 

@DurhamBorn

They kept it quiet, but Ofcom has dipped its toe in the water of meddling with net neutrality.  

Great find,yep the start of the end of net neutrality.Likely the big users will decide to do deals before forced and up their fees.Telcos will of told government,let us do this or forget your 15 minutes cities etc we cant invest because we cannot make our cost of capital.It will take a while,maybe years,but i can wait,they could multi bag and multi the divis.

The one thing that sometimes pisses me off with the thread is when people expect us to time perfectly.That isnt what macro strategy is,its about spotting whats coming way before others even consider it.That move from OFCOM is huge,yet few will understand it.They have fired the gun to big tech having to pay big telco more,or kiss goodbye to your reputation as we throttle your traffic.

 

[marceau]

20 minutes ago, Lightscribe said:

Things like this don’t really help them quell  ‘conspiracy theorists’

 

This is a conspiracy I can get behind. It's obvious Jewish power has a subverting effect on the US, and by extension on the vassals states of the US.

I've grown tired of seeing articles like this since the Hamas attacks:

https://www.bbc.co.uk/news/uk-67266475

https://www.bbc.co.uk/news/entertainment-arts-68298499

You would never see these sort of pieces in relation to the English, Scot, Irish or Welsh. We are compromised.

[nirvana]

11 minutes ago, marceau said:

https://theupheaval.substack.com/p/the-rise-of-the-right-wing-progressives

Andreessen and netscape were responsible for navigator......which had over 90% of the browser market UNTIL...

the cunts at Microsoft then the cunts at Google took over the world....

I know we whinge about the 'looney lefties' on here but I just think they're 'useful idiots' for the cunts who are really in control......the corporates........headed by the cunts at BlackCock......be afraid, be very afraid (typ0 to protect the innocent )

Edited February 15 by nirvana

[DurhamBorn]

I should add on the telcos.They pay their taxes and they invest directly into every community.Big tech avoids its taxes and does not invest anywhere but a few hubs.One of the best ways to ensure they start to pay more is to allow telcos to take it off them and pay the extra tax.The telcos could destroy almost every big tech firm tomorrow.Why should my capital not get the return it deserves so Bezos can trouser more billions?.Telefonica are really pushing the EU on it as well,and doing a good job,OFCOMs move will hopefully give them more ammo.Telcos,goldies and EMs running hot together would have me the 2nd happiest person in Durham after my masseuse.

[marceau]

1 minute ago, nirvana said:

Andreessen and netscape where responsible for navigator......which had over 90% of the browser market UNTIL...

the cunts at Microsoft then the cunts at Google took over the world....

I know we whinge about the 'looney lefties' on here but I just think they're 'useful idiots' for the cunts who are really in control......the corporates........headed by the cunts at Blackcock......be afraid, be very afraid

I like Andreessen, but he's sat in the middle of crazy-town, so I can't trust him. More substack - an interview he did with Niccolo Soldo a few years back:

https://niccolo.substack.com/p/the-dubrovnik-interviews-marc-andreessen