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

[Cosmic]

28 minutes ago, ThoughtCriminal said:

How's this for societal decay? By the time he cleans all of the shit out of the hydrant connection and gets the hose hooked up the fire is out. Apparently this is quite a common problem now as they're not being maintained properly anymore.

Foreigners commenting in disbelief asking if Britain is a third world country. Why yes, yes it is.

 

Well at this level of blaze, if it can be handled by the supply of the appliance, is this an issue? In the initial response to a larger blaze there would be more appliances dispatched and then the hydrants would be used once the supply of the appliances is used - for larger blaze the first priority would be to stop it spreading anyway, and then longer term you need continuous apply to properly quench the fire. Given the rainfall and the road dirt, how often would these need to be cleaned to provide <30second access anyway, and what would the cost and disruption of that be? Even if you had a truck that could just park over them, lift the grate and jet them, it would still stop traffic while it was done.

[Loki]

49 minutes ago, ThoughtCriminal said:

How's this for societal decay? By the time he cleans all of the shit out of the hydrant connection and gets the hose hooked up the fire is out. Apparently this is quite a common problem now as they're not being maintained properly anymore.

Foreigners commenting in disbelief asking if Britain is a third world country. Why yes, yes it is.

 

That was in posh weybridge too

[goldbug9999]

12 hours ago, Errol said:

So their recommendation is to buy something that isn't actually gold.

So what are you claiming exactly - that the ETF's declared NAV  is fraudulent ?.

Edited April 28 by goldbug9999

[Joncrete Cungle]

2 hours ago, ThoughtCriminal said:

How's this for societal decay? By the time he cleans all of the shit out of the hydrant connection and gets the hose hooked up the fire is out. Apparently this is quite a common problem now as they're not being maintained properly anymore.

Foreigners commenting in disbelief asking if Britain is a third world country. Why yes, yes it is.

 

Fire brigade couldn't get enough water pressure from the hydrants last year. When a large fire broke out in our town.

[AWW]

2 hours ago, Long time lurking said:

 

"Economists are watching the pay increases closely, as some worry they could start to feed into an inflation problem that started with pandemic-related supply issues and shocks from the war in Ukraine."
 

Nothing to do with the money supply

[sancho panza]

[AWW]

4 minutes ago, sancho panza said:

 

 

Be interesting to overlay that chart with costs per ounce extracted

[CannonFodder]

2 hours ago, ThoughtCriminal said:

How's this for societal decay? By the time he cleans all of the shit out of the hydrant connection and gets the hose hooked up the fire is out. Apparently this is quite a common problem now as they're not being maintained properly anymore.

Foreigners commenting in disbelief asking if Britain is a third world country. Why yes, yes it is.

 

Would you be surprised if I told you this is normal and not actually that bad.

That sometimes it is a metal detector and pick axe to break through the black top to find what is paved over by a overzealous road resurfacing crew.

Sadly, I am not joking.

[AWW]

7 hours ago, Mandalorian said:

I keep saying it.  Never bet against the United States.

I have a similar instinct, then I see this slurring, drugged-up, slit-eyed octogenarian being paraded as their future and I start to wonder...

https://www.bbc.co.uk/news/av/world-us-canada-68915195

[sancho panza]

45 minutes ago, AWW said:

Be interesting to overlay that chart with costs per ounce extracted

I think you've highlighted the inflection point around the subsatanial rise in AISC back in 2010.teh two sets of data would cross voer in that timeframe

this is WGC estimates(but ideally we need the data back to the brown bottom)

Ive found a van eck chart that chimes in with the WGC psot 2011 data,

https://www.gold.org/goldhub/data/aisc-gold#from-login=1

https://www.vaneck.com/se/en/blog/gold-investing/gold-miners-react-and-ready-for-more/

Edited April 28 by sancho panza

[Errol]

2 hours ago, goldbug9999 said:

So what are you claiming exactly - that the ETF's declared NAV  is fraudulent ?.

It's a gold derivative, effectively. In the event of a weekend 'great reset' or gold revaluation I would have zero confidence in it. It isn't gold. It's a paper instrument referencing some gold which may or may not be available to you or priced correctly when you actually need it to be.

Edited April 28 by Errol

[Mandalorian]

27 minutes ago, AWW said:

I have a similar instinct, then I see this slurring, drugged-up, slit-eyed octogenarian being paraded as their future and I start to wonder...

https://www.bbc.co.uk/news/av/world-us-canada-68915195

Ignore him.  He's an irrelevance.  Just does what the real power tells him to do.

[goldbug9999]

22 minutes ago, Errol said:

It's a gold derivative, effectively. In the event of a weekend 'great reset' or gold revaluation I would have zero confidence in it. It isn't gold. It's a paper instrument referencing some gold which may or may not be available to you or priced correctly when you actually need it to be.

Commodity spot ETFs are not derivatives

[montecristo]

now this sounds good but just out for consultation unlikely to be implement before the election

 

"Disabled people face being stripped of monthly payments and given vouchers instead under a benefits crackdown being unveiled on Monday ahead of the local elections.

Other options being considered include requiring receipts to be provided to claim money back from the state, or offering treatment instead of financial support.

The proposed changes to the Personal Independence Payment (PIP) will be announced as part of a wider policy being championed by Rishi Sunak to tackle the UK’s worklessness crisis."

https://www.telegraph.co.uk/politics/2024/04/28/disabled-people-benefits-clampdown-rishi-sunak/

https://archive.is/20240428201716/https://www.telegraph.co.uk/politics/2024/04/28/disabled-people-benefits-clampdown-rishi-sunak/

Edited April 28 by montecristo

[Mandalorian]

17 minutes ago, montecristo said:

now this sounds good but just out for consultation unlikely to be implement before the election

 

"Disabled people face being stripped of monthly payments and given vouchers instead under a benefits crackdown being unveiled on Monday ahead of the local elections.

Other options being considered include requiring receipts to be provided to claim money back from the state, or offering treatment instead of financial support.

The proposed changes to the Personal Independence Payment (PIP) will be announced as part of a wider policy being championed by Rishi Sunak to tackle the UK’s worklessness crisis."

https://www.telegraph.co.uk/politics/2024/04/28/disabled-people-benefits-clampdown-rishi-sunak/

https://archive.is/20240428201716/https://www.telegraph.co.uk/politics/2024/04/28/disabled-people-benefits-clampdown-rishi-sunak/

I've said for years.  NOBODY should receive benefits (or charity handouts as I prefer to call them) as cash.

You should get an Aldi voucher (value set by some kind of ration of basic food, carefully calorie/nutrition counted etc) and a gas/water/electricity voucher.  And that's your lot.

'But they might sell them for cash for less than the voucher is worth.'  So what?  That's their stupid problem,

Edited April 28 by Mandalorian

[DurhamBorn]

https://www.bbc.co.uk/news/articles/cn0ry09d50wo

https://archive.ph/VaknR

Left it a bit late.Easiest way would be include all bennies in the bennie cap and freeze it at £20k for a decade.I would means test PIP as well,far too many retire early on fat public sector pensions and get PIP as well.Likely they will leave too many loop holes though like they always do and the parasites figure them out in a day.Not including disability bennies in the bennie cap is why so many are jumping on now.Look at that fucker moved near me to Barnie in the article nothing wrong with him at all,fleecing low paid taxpayers.

[sancho panza]

Intersting to see the lefties identify a key problem and hen convince themselves that the wya out a of a debt problem is an even bigger debt problem

we truly are f***ed when zanu labour get in imho

https://uk.finance.yahoo.com/news/real-terms-average-pay-lower-213014421.html

 

Real terms average pay lower in most UK local authorities than in 2008, TUC finds

Pay packets are smaller than they were in 2008 in most local authority areas in the UK, according to analysis by the Trades Union Congress, which described the findings as a “damning indictment” of the Conservatives’ economic record.

The TUC, which includes 48 unions with more than five million members, said stagnating wages meant British workers were in the midst of the longest squeeze on wages since the Napoleonic era.

Real terms average pay, which factors in inflation, is less than it was in 2008, the year the global financial crisis struck, in nearly two-thirds (63%) of UK local authorities, the TUC said.

The union body estimates that the average UK worker would be £10,400 a year better off if real wages had grown at their pre-crisis trend – the equivalent of £200 a week.

London has the highest share of what it called “wage black spots”, with real pay below 2008 levels in nearly all of the capital’s local authorities.

[tank]

7 hours ago, Long time lurking said:

Staying five years in the job ,its still well over 100K a per year, plus pension and health care for a delivery drivers job

You could flip burgers full time in most US states and make more than a junior doctor or nurse in the UK and the same goes for most skilled occupations.

No surprises that a semi skilled job like driving a lorry or bus in the US now pays more than a typical consultant doctor in the UK.

The UK is barely a first world country in terms of its per capita living standards these days and the situation is not going to improve.

Edited April 29 by tank

[Lightscribe]

4 hours ago, tank said:

You could flip burgers full time in most US states and make more than a junior doctor or nurse in the UK and the same goes for most skilled occupations.

No surprises that a semi skilled job like driving a lorry or bus in the US now pays more than a typical consultant doctor in the UK.

The UK is barely a first world country in terms of its per capita living standards these days and the situation is not going to improve.

Watch what happens when £ goes on parity with the $ if the BoE and ECB break lockstep with the Fed and cut rates. Any US importing and tourism will be very expensive for the UK that I’m sure the Japanese are finding currently.

[Pip321]

8 hours ago, montecristo said:

now this sounds good but just out for consultation unlikely to be implement before the election

 

"Disabled people face being stripped of monthly payments and given vouchers instead under a benefits crackdown being unveiled on Monday ahead of the local elections.

Other options being considered include requiring receipts to be provided to claim money back from the state, or offering treatment instead of financial support.

The proposed changes to the Personal Independence Payment (PIP) will be announced as part of a wider policy being championed by Rishi Sunak to tackle the UK’s worklessness crisis."

https://www.telegraph.co.uk/politics/2024/04/28/disabled-people-benefits-clampdown-rishi-sunak/

https://archive.is/20240428201716/https://www.telegraph.co.uk/politics/2024/04/28/disabled-people-benefits-clampdown-rishi-sunak/

 

7 hours ago, Mandalorian said:

I've said for years.  NOBODY should receive benefits (or charity handouts as I prefer to call them) as cash.

You should get an Aldi voucher (value set by some kind of ration of basic food, carefully calorie/nutrition counted etc) and a gas/water/electricity voucher.  And that's your lot.

'But they might sell them for cash for less than the voucher is worth.'  So what?  That's their stupid problem,

Vouchers for bennies….we all think that’s a good idea. Careful though…..this is exactly how those “conspiracy theorists” said it starts. A worry because the conspiracy theorists keep being proved right. 

First those we don’t like (bennies, PIP etc) are issued vouchers and everyone is onboard….including myself by the way, makes complete sense.

Then they can issue a digital type currency for these people so they can’t save up money but effectively get what they need with an expiry date and/or money with a specific usage. Again we all agree it’s a good idea.

Then as the digital currency becomes integrated it’s introduced across the board with no controls. Normally under the guise that it works, stops money laundering and terrorist funding etc….now we are a bit suspicious but the BBC say it’s good so the populous except it.

Then the controls. Petrol, meat, energy, ciggies, beer, etc etc

Don't get me wrong I have always thought bennies should be services/food items/housing and not money……I just question their motives. One thing I know is any political decision is never, never ever for the greater good. 

Edited April 29 by Pip321

[ThoughtCriminal]

13 hours ago, Bobthebuilder said:

In fairness he looks very experienced at dealing with that situation, digging it out and then flushing the crap out before he attaches the hose. As a plumber I can tell you those street level outlets get blocked up in no time with silt and rainfall, surprised the valve wasn't stuck shut TBH.

But I will agree, this country is fucking falling apart.

I blame the policies of gov and councils, public sector etc. I was out in central London yesterday, every PS worker, bus driver, boat shuttle operator, street cleaner was BAME, but all the paying customers were mostly white, it don't add up.

Lots of firemen on there saying it's a big problem and never used to be. Took him 8 minutes to get water running apparently. In a serious fire that means dead people.

[ThoughtCriminal]

10 hours ago, CannonFodder said:

Would you be surprised if I told you this is normal and not actually that bad.

That sometimes it is a metal detector and pick axe to break through the black top to find what is paved over by a overzealous road resurfacing crew.

Sadly, I am not joking.

Took him 8 minutes.

There's loads of firemen on there saying this is now a common problem and never used to be.

[DurhamBorn]

18 minutes ago, ThoughtCriminal said:

Lots of firemen on there saying it's a big problem and never used to be. Took him 8 minutes to get water running apparently. In a serious fire that means dead people.

I got Northumbrian Water out to do the ones outside my house and the stop cock etc,its was full of congealed stones,sand etc.I could of done it myself,but i thought its their job,i said why dont you have someone who checks them every few years.He said they cant be arsed.Iv got the keys to turn them all off etc,handy if you get a flood between your stockcock and the road.I also made them put my water meter in my house,not outside,lf you have it outside and have a small leak after it you could be paying more for years and never know.

[feed]

6 hours ago, tank said:

You could flip burgers full time in most US states and make more than a junior doctor or nurse in the UK and the same goes for most skilled occupations.

No surprises that a semi skilled job like driving a lorry or bus in the US now pays more than a typical consultant doctor in the UK.

The UK is barely a first world country in terms of its per capita living standards these days and the situation is not going to improve.

The federal minimum wage in the United States is $7.25 per hour
Wendy's pays $12.52 an hour on average.
The average McDonald's salary in the United States is $25,163 per year.

This kind of hyperbole saying that US burger flippers are better paid than a UK nurse is so ridicules it damages any real discussion on wage suppression in the UK.    
 

[Lightscribe]

8 hours ago, Mandalorian said:

I've said for years.  NOBODY should receive benefits (or charity handouts as I prefer to call them) as cash.

You should get an Aldi voucher (value set by some kind of ration of basic food, carefully calorie/nutrition counted etc) and a gas/water/electricity voucher.  And that's your lot.

'But they might sell them for cash for less than the voucher is worth.'  So what?  That's their stupid problem,

We had vitamin for kids vouchers and milk tokens etc. Abuse using them was rife around the London suburbs.

They were used as a form of currency for the bennie lot via dodgy local corner shops for booze and fags until the scheme suddenly stopped.

As Pip said traceable, expirable digital vouchers on the other hand? CBDC UBI anyone