Credit deflation and the reflation cycle to come (part 9)

[Pip321]

9 minutes ago, geordie_lurch said:

Damn you

To be fair whilst it was new (ish) mine was filthy with hair/dust and I needed to give it a decent clean/service which took me an hour or so. 

I mean the dyson was filthy....not the chubby lady selling it. I never found out if she was filthy...I was worried she might want to eat me (and not in a good way) 😎

[Castlevania]

52 minutes ago, Errol said:

They've been doing this for a decade+ already.

They spent their excess dollars from trade, buying materials to build infrastructure both in China and abroad (belt and road).

[ThoughtCriminal]

On 18/05/2024 at 23:36, M S E Refugee said:

The roads are fucked and the water was undrinkable in Devon, it does feel a bit third worldy at the moment in the UK.

At work I'm driving a van thats falling apart with over 700,000 miles on the clock.

The UK is deteriorating rapidly.

 

I've mulled asking this for a while, so now that you've raised it I will. The roads in the northeast and north Yorkshire are absolutely fucked just atrocious. I drive a lot for work and leisure and I'm seeing not just more potholes than ever but BIG fuckers, sometimes 4-5 inches deep. There's definitely been a decision taken to save money on road maintenance up here, but what are other areas of the country like?

[One percent]

4 minutes ago, ThoughtCriminal said:

I've mulled asking this for a while, so now that you've raised it I will. The roads in the northeast and north Yorkshire are absolutely fucked just atrocious. I drive a lot for work and leisure and I'm seeing not just more potholes than ever but BIG fuckers, sometimes 4-5 inches deep. There's definitely been a decision taken to save money on road maintenance up here, but what are other areas of the country like?

Behave, they are spending loads of money here. We are getting a new plinth on the old town hall, in the market place that’s been the same for centuries, a new maritime training building and a monkey puzzle tree. No one wants ant of it.  Meanwhile, the lights on new quay road haven’t worked since lockdown and a hole on the pavement so big it’s been filled with a sandbag (the seagulls seem to like it).  

[DurhamBorn]

1 minute ago, One percent said:

Behave, they are spending loads of money here. We are getting a new plinth on the old town hall, in the market place that’s been the same for centuries, a new maritime training building and a monkey puzzle tree. No one wants ant of it.  Meanwhile, the lights on new quay road haven’t worked since lockdown and a hole on the pavement so big it’s been filled with a sandbag (the seagulls seem to like it).  

Any news on when they are building the Premier Inn and where it will be?

[Joncrete Cungle]

10 minutes ago, ThoughtCriminal said:

I've mulled asking this for a while, so now that you've raised it I will. The roads in the northeast and north Yorkshire are absolutely fucked just atrocious. I drive a lot for work and leisure and I'm seeing not just more potholes than ever but BIG fuckers, sometimes 4-5 inches deep. There's definitely been a decision taken to save money on road maintenance up here, but what are other areas of the country like?

Roads are shite in the North West, town, city and rural.

[One percent]

2 minutes ago, DurhamBorn said:

Any news on when they are building the Premier Inn and where it will be?

Ooh, that’s news to me. 
 

a new company has taken over the royal hotel and they’ve started doing work already 

[Cattle Prod]

22 hours ago, montecristo said:

I have memorised my seed words.  I can travel the world with 10+ years of living expenses in my brain.  I have no worry's about getting gold bars confiscated at the airport.  Everyone should have little bit.

Monte, do you mind sharing how you intend to off ramp those expenses? I love the idea of carrying my wealth across borders in my brain, but when it gets to logging on to the internet and recording my transaction in a ledger for someone to exchange my bytes for spendable currency, it breaks down for me. I have visions of me running around looking for a generator to charge my phone... I know it's ridiculous!

This is not a criticism: I have been waiting for an evolution in tech/process to improve the convertability of BTC into currency (ideally gold). Thoughts appreciated.

[Funn3r]

1 minute ago, Cattle Prod said:

[Looking] for someone to exchange my bytes for spendable currency

I have massive respect for the way President Nayib Bukele has cleaned up El Salvador by rounding up the gangs and jailing them. Equally respect the way he could have done an Argentina and pegged to the USD but instead just made bitcoin legal tender. You can literally just buy your daily stuff using bitcoin.

[TNS]

8 minutes ago, Joncrete Cungle said:

Roads are shite in the North West, town, city and rural.

absolutely every town & city.

FTFY

[Errol]

 

[ThoughtCriminal]

20 hours ago, Harley said:

Agreed.  That and John Williams running the current numbers with more historically consistent calculations to give what I have always maintained.......  TLDL: Inflation seriously understated with knock on effects on GDP, etc.  US employment data not fit for purpose.  Etc.  Similar here?  When I first started, they told us only the French cooked the numbers! 

 

100% correct.

I posted on here a few weeks back about the deep dive I did in the UK Labour Force Survey. A complete fraud, 100% fabrication with almost no basis in reality. I see no reason to trust any official data.

[AWW]

14 hours ago, sancho panza said:

Guys says £300 Universal credit every week,then he gets £500pcm in PIP for his bad backevery four weeks .He pays £73 per week for his flat from that.

SO my mate is blown away by the figures,he does the calcs,and then says

'so you're bascially getting £1700pcm in benefits?' guy smiles and goes 'yep'

It's even worse than that - about £1850. He won't have to pay council tax, which your colleague will. Plus he'll be able to avail himself of all the scratters' tariffs for broadband, energy etc.

[montecristo]

1 hour ago, Cattle Prod said:

Monte, do you mind sharing how you intend to off ramp those expenses? I love the idea of carrying my wealth across borders in my brain, but when it gets to logging on to the internet and recording my transaction in a ledger for someone to exchange my bytes for spendable currency, it breaks down for me. I have visions of me running around looking for a generator to charge my phone... I know it's ridiculous!

This is not a criticism: I have been waiting for an evolution in tech/process to improve the convertability of BTC into currency (ideally gold). Thoughts appreciated.

Depends on the scenario.  If I still have my uk accounts I can convert to fiat immediately using many apps and exchanges.  If uk bank accounts have been frozen I can open foreign bank accounts easy and convert btc to fiat.  More countries like El Salvador, costa Rica etc have made BTC legal tender and can buy goods direct with BTC.

Yes you will need a electronic device to make the conversion/transfer.  If they no longer exist then you have bigger problems

At the drop of hat I can pack all my worldly possessions into a single suitcase.  Go to an airport carrying no phones, laptops, gold, jewellery etc.  Just need enough cash to set me up for a couple of week in my destination country.  Buy a cheap mobile, download a wallet, restore my funds using my memorised words.  Start life again.

 

 

 

Edited May 20 by montecristo

[Castlevania]

6 minutes ago, AWW said:

It's even worse than that - about £1850. He won't have to pay council tax, which your colleague will. Plus he'll be able to avail himself of all the scratters' tariffs for broadband, energy etc.

So after paying rent he’s got around £50 a day in disposable income?

[ThoughtCriminal]

Well my pre 1947 mixed British silver coins are up from 331 per kg bag to 440, so hat tip to @M S E Refugee

 

[Long time lurking]

The CBDC psyop continues 

The message is simple Block chains are no secure ,it`s no coincidence that the BRICS are proposing a ledger based on a block chain as a alternative for cross border trade and it was the ETH block chain that`s been touted as the candidate (i doubt that thought ) psyops every where 

 

[Van Lady]

@geordie_lurchand @Pip321

I got given a dyson that had hardly been used free of charge because it was too heavy for the fat woman 

Edited May 20 by Van Lady

[leonardratso]

are these all the same fat woman selling dysons from a warehouse or car boot?

[baffledbyzirp]

Right, I got a Dyson that was brand new still in the box, hand delivered to my front door by a woman who was the size of an elephant and extremely lazy. What's more she paid me £20 to take it off her hands. Tell that to the youth of today and will they believe you? Beat that @geordie_lurch, @Pip321 and @Van Lady.

[leonardratso]

3 minutes ago, baffledbyzirp said:

Right, I got a Dyson that was brand new still in the box, hand delivered to my front door by a woman who was the size of an elephant and extremely lazy. What's more she paid me £20 to take it off her hands. Tell that to the youth of today and will they believe you? Beat that @geordie_lurch, @Pip321 and @Van Lady.

i got a lazy fat woman at a saudi arabian bazzar and she cost me a dyson that i found in a skip round the back of weight watchers.

[Loki]

Suddenly and for no obvious reason I want to go long on pork bellies 

Currently at 3 month lows 

[Joncrete Cungle]

Latest Harry's farm

Covers Harry reducing the area he produces wheat from by 50% by 2025, chemical prices, fert prices, wheat prices, bad weather in Lincolnshire and Yorkshire and government bird food growing schemes.

 

[Jay]

On 17/05/2024 at 23:59, Castlevania said:

Not a bad strategy. The American oil companies soared. So they got sold around the time of the Truss debacle and I piled into PM miners. I sold BP because I didn’t understand their green strategy. Have since sold out of all the Europeans you mention bar Shell and recycled into Harbour; Petrobras and Ecopetrol over the past year. The Latin American oil companies are on tiny P/Es and churn out dividends. Flip side is a lot of political risk (but arguably less than the U.K. government moronic windfall tax on North Sea oil and gas producers).

I have opend a ecopetrol position..it does have a very high dividend and the share is moving up recently..thanks for the heads up..be lucky..

[Harley]

4 hours ago, ThoughtCriminal said:

I've mulled asking this for a while, so now that you've raised it I will. The roads in the northeast and north Yorkshire are absolutely fucked just atrocious. I drive a lot for work and leisure and I'm seeing not just more potholes than ever but BIG fuckers, sometimes 4-5 inches deep. There's definitely been a decision taken to save money on road maintenance up here, but what are other areas of the country like?

Let's just say I made sure my quad bike was road legal and have a car with the cheapest steering components!  My quad bike manual has a humorous warning about poor steering on paved roads.  Fortunately just a first world problem!