Author Topic: Economic FUCKDOWN  (Read 5743 times)

Shoulders?-Stomach!

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Economic FUCKDOWN
« on: June 10, 2020, 06:54:52 PM »
https://www.bbc.co.uk/news/business-52991913



This time its the Tories that have well and truly trashed the economy, all of the back of delays resulting from the neoliberals who were prepared to see 100K deaths to 'take the hit' and then a misinterpreted sociology idea about how 'we shouldn't go into lockdown too quickly because people might get tired of it'. Well, now we exposed ourselves to tens of thousands of deaths needlessly, extended the lockdown as a result of the infection rate going postal and we're in Economic FUCKDOWN.

Re: Economic FUCKDOWN
« Reply #1 on: June 10, 2020, 06:58:12 PM »
Well, its poor people's and immigrants' fault.

Sheffield Wednesday

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Re: Economic FUCKDOWN
« Reply #2 on: June 10, 2020, 07:39:44 PM »
Hahaha great 😁😁😁

Re: Economic FUCKDOWN
« Reply #3 on: June 10, 2020, 09:55:16 PM »
The always excellent Tim Watkins goes into some detail on this here https://consciousnessofsheep.co.uk/2020/06/10/just-the-beginning/

It doesn't look good.

Re: Economic FUCKDOWN
« Reply #4 on: June 10, 2020, 09:57:28 PM »
It's always been the Tories who trash the economy. They just lie about it to get elected.

Re: Economic FUCKDOWN
« Reply #5 on: June 10, 2020, 10:09:05 PM »
Remember when Boris Johnson’s plan was to kill a quarter of a million people by avoiding a lockdown so that the UK economy would be a superman blazing a trail across the world?

Unfortunately for the Tories the pandemic doesn’t fall for propaganda so they have finally been exposed.

Re: Economic FUCKDOWN
« Reply #6 on: June 10, 2020, 10:21:58 PM »
Unfortunately for the Tories the pandemic doesn’t fall for propaganda so they have finally been exposed.
Sadly, the issue is whether people fall for propaganda. And they do. I expect the main narrative thrusts will be:

a) It was someone else's fault
and
b) No other government could have done better, so stop blaming Boris.

Shoulders?-Stomach!

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Re: Economic FUCKDOWN
« Reply #7 on: June 10, 2020, 10:34:09 PM »
The always excellent Tim Watkins goes into some detail on this here https://consciousnessofsheep.co.uk/2020/06/10/just-the-beginning/

It doesn't look good.

It doesn't look good for the US or UK especially, nor any nation that relies on tourism and hospitality, areas which are going to continue to be affected long term.

It looks OK for Japan + South Korea, it looks OK for China for now (Many emerging markets that buy their shit haven't been massively hit yet). The power balance in Europe is drifting north and east to Germany, Czechia, Poland, Lithuania.

From what I can see we (the UK) can rely on our gold plated credit ratings for now to borrow and spend our way forward and we still have a very important financial sector so are broad shouldered. There are still a lot of people with a lot of money who will invest here, but it's whether they can be persuaded to spend it and whether the UK government have the balls to take inflationary action, raise new taxes or raise interest rates (unlikely) to stimulate growth.

Effectively our way out of this is socialism. In a way Boris would saw off his own knee if he thought it would be effective so maybe he will turn into a lefty for a few years to save his own skin. It's either that or be the man who killed 30,000 citizens by accident, caught the same virus himself by failing to follow advice, crashed us out of the EU without a deal, brought about the end of the UK as a nation (with Scotland leaving) and plunged us into the worst economic depression in British history. Whammy.

Alberon

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Re: Economic FUCKDOWN
« Reply #8 on: June 10, 2020, 10:45:17 PM »
So the Tories tried to balance the death toll verses the economic toll and ended up fucking both into the ground?

Magnificent.

Re: Economic FUCKDOWN
« Reply #9 on: June 10, 2020, 11:10:13 PM »
Don't worry everyone we are leaving the EU.

Zetetic

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Re: Economic FUCKDOWN
« Reply #10 on: June 10, 2020, 11:39:46 PM »
Centre for Towns report is interesting attempt to look at different exposure to economic impact due to sectoral effects:
https://www.centrefortowns.org/reports/covid-19-and-our-towns/viewdocument



(The map is not very legible, alas, but you get the idea.)

South West England and Wales, which have weathered COVID-19 itself fairly well, likely to struggle with economic effects - presumably compounded by Brexit in many cases, and by the Westminster administration (which is also seeking to claw back would-be-ESF-monies from these places).

Captain Z

  • Oh yeah my cholesterol's going down
Re: Economic FUCKDOWN
« Reply #11 on: June 10, 2020, 11:39:56 PM »
People are already laying into furloughed workers because, without exception, every single one of them is living it up on a massive paid-for holiday while showing no gratitude to the government in return by going to live on farms and pick fruit to keep themselves useful. It will be their fault, not the Tories.

shiftwork2

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Re: Economic FUCKDOWN
« Reply #12 on: June 10, 2020, 11:43:20 PM »
The UK's performance on Covid-19 appears to be about as bad as it gets on the entire planet in every single respect.

hamfist

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Re: Economic FUCKDOWN
« Reply #13 on: June 11, 2020, 07:22:08 AM »
I guess no-deal-brex-fuck will add another inch at least to our FUCKDOWN line. Oh what a nice few years these are gonna be.

Shoulders?-Stomach!

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Re: Economic FUCKDOWN
« Reply #14 on: June 11, 2020, 07:54:04 AM »
So grim seaside resorts and rural honeypots are FUCKED DOWN?

Re: Economic FUCKDOWN
« Reply #15 on: June 11, 2020, 07:58:33 AM »
Selling off the NHS, fracking under poor areas, turning lamposts into mobile advertising stations, and charging you for the air you breathe will be the only way to pay for COVID, no other arguments will be heard, thank you

Sheffield Wednesday

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Re: Economic FUCKDOWN
« Reply #16 on: June 11, 2020, 09:31:10 AM »
No fucking way

Never again

Let's tear it all up

Sebastian Cobb

  • bad opinion haver
Re: Economic FUCKDOWN
« Reply #17 on: June 11, 2020, 09:41:12 AM »
I got a quarterly statement from my savings investments. Lost about 20% since January.

I know shares can go up instead of down. I didn't want to get involved and only really did it to shut my family up. Should've just kept it under the mattress and have my money slowly decline due to inflation.

Re: Economic FUCKDOWN
« Reply #18 on: June 11, 2020, 09:56:02 AM »


From what I can see we (the UK) can rely on our gold plated credit ratings for now to borrow and spend our way forward and we still have a very important financial sector so are broad shouldered. There are still a lot of people with a lot of money who will invest here, but it's whether they can be persuaded to spend it and whether the UK government have the balls to take inflationary action, raise new taxes or raise interest rates (unlikely) to stimulate growth.

Effectively our way out of this is socialism. In a way Boris would saw off his own knee if he thought it would be effective so maybe he will turn into a lefty for a few years to save his own skin. It's either that or be the man who killed 30,000 citizens by accident, caught the same virus himself by failing to follow advice, crashed us out of the EU without a deal, brought about the end of the UK as a nation (with Scotland leaving) and plunged us into the worst economic depression in British history. Whammy.

I suspect you are right in that the only short term measure they can take is further massive government intervention, accompanied by tax rises. But that isn't going to bring back the jobs lost through the retail and leisure sector and their associated spending power (unless they go the whole hog and introduce UBI).

At some point we are going to have to bite the bullet about de-growth because it will happen whether we like it or not. This might be an opportunity to manage the decline rather than crash off the cliff. But I am not optimistic.

Shoulders?-Stomach!

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Re: Economic FUCKDOWN
« Reply #19 on: June 11, 2020, 12:34:49 PM »
How can we rejig the economy so it can be supported by productive meaningful activity, not just consumerism.

I don't want to put restaurants, clothes shops etc out of business but if you prop up your economy on this sort of activity (the above study says 44% of Ilkley residents work in hospitality or retail) the floor will fall underneath you in this type of crisis. The report expects a fairly wealthy town like Ilkley with lots of independent businesses to be severely affected.

Other areas too, for instance car sales being a very serious indicator for investors. That's sick. A car should be lasting people 15 years and, not get replaced every 3 or pass through a dozen owners.

This is all supported by debt and lavish provisions of consumer credit of course.

So yes the model of the economy stinks to fuck, but I suppose we will just lean on borrowing and fiat money to resuscitate it, while more public services and local government cuts follow.

Sheffield Wednesday

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Re: Economic FUCKDOWN
« Reply #20 on: June 11, 2020, 12:54:39 PM »
Only way out now is how can we monetise burning a load of corpses 😂😂😂

Re: Economic FUCKDOWN
« Reply #21 on: June 11, 2020, 12:58:03 PM »
Only way out now is how can we monetise burning a load of corpses 😂😂😂

Restaurants and clothes shops.

Sheffield Wednesday

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Re: Economic FUCKDOWN
« Reply #22 on: June 11, 2020, 12:59:25 PM »
Hahaha what a fuckin great punchline

Sebastian Cobb

  • bad opinion haver
Re: Economic FUCKDOWN
« Reply #23 on: June 11, 2020, 01:00:25 PM »


Other areas too, for instance car sales being a very serious indicator for investors. That's sick. A car should be lasting people 15 years and, not get replaced every 3 or pass through a dozen owners.



There's a real bubble in new cars with pcp. If a new car is important to you taking it for 3 years then doing the same works out the same or better as depreciation and comes with warranty and servicing. I can see why people do it. But you're right in that it's disgusting consumerism and causes cars to be made uneccesarily and means there's a surplus of nearly new cars.

It doesn't matter to me I'd rather have an older car and run it into the ground. Paradoxically it's often posher cars that are cheap used because every poser thinks they need a new one.

Re: Economic FUCKDOWN
« Reply #24 on: June 11, 2020, 01:18:53 PM »
There's a real bubble in new cars with pcp. If a new car is important to you taking it for 3 years then doing the same works out the same or better as depreciation and comes with warranty and servicing. I can see why people do it. But you're right in that it's disgusting consumerism and causes cars to be made uneccesarily and means there's a surplus of nearly new cars.

It doesn't matter to me I'd rather have an older car and run it into the ground. Paradoxically it's often posher cars that are cheap used because every poser thinks they need a new one.

At the risk of bringing yet more tired WW2 phraseology to the current situation, we are going to see a lot more 'make do and mend' on everything from cars to PCs and phones to clothing.

Re: Economic FUCKDOWN
« Reply #25 on: June 11, 2020, 02:03:31 PM »
the government chose to protect the economy over killing old people and somehow they fucked it all up! hahah! still at least we get a big bouncing beautiful big ben bong bung a bob BREXIT

Re: Economic FUCKDOWN
« Reply #26 on: June 11, 2020, 02:05:18 PM »
Centre for Towns report is interesting attempt to look at different exposure to economic impact due to sectoral effects:
https://www.centrefortowns.org/reports/covid-19-and-our-towns/viewdocument



(The map is not very legible, alas, but you get the idea.)

South West England and Wales, which have weathered COVID-19 itself fairly well, likely to struggle with economic effects - presumably compounded by Brexit in many cases, and by the Westminster administration (which is also seeking to claw back would-be-ESF-monies from these places).
Sandhurst AND Mildenhall?

And Catterick? Whats with all the army/RAF places getting cunted

Re: Economic FUCKDOWN
« Reply #27 on: June 11, 2020, 02:10:09 PM »
Why is it mostly near the coast?

Re: Economic FUCKDOWN
« Reply #28 on: June 11, 2020, 02:12:26 PM »
Why is it mostly near the coast?

Tourism. Or the lack of.

Zetetic

  • Worrying the carcass of an old song.
Re: Economic FUCKDOWN
« Reply #29 on: June 11, 2020, 02:26:20 PM »


Compounded by timing, I assume.

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