Author Topic: Economic FUCKDOWN  (Read 5744 times)

Sheffield Wednesday

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Re: Economic FUCKDOWN
« Reply #60 on: June 20, 2020, 08:38:19 AM »
Kelv, very sorry to hear about that mate. My bro works in recruitment and he says that they're expecting a lot more work over the next month based on 'sources' so fingers crossed you can get back on the horse (heroin) promptly.

Can I ask if yourself has any experience digging mass graves, sir?

Kelvin

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Re: Economic FUCKDOWN
« Reply #61 on: June 20, 2020, 09:50:50 AM »
You should get back into the accidental prostitute-killing business; you were really good at that.
And I'd be happy to provide a reference to that effect.

It was Crease who killed the prostitute, I excelled at making sure it couldn't get linked back to me.

Head Gardener

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Re: Economic FUCKDOWN
« Reply #62 on: June 22, 2020, 08:07:24 AM »


a ‘COVID-free’ Italian town is selling houses for just $1 : https://edition.cnn.com/travel/article/one-euro-homes-cinquefrondi-covid-19/index.html


Re: Economic FUCKDOWN
« Reply #63 on: June 22, 2020, 12:24:18 PM »
This image is probably more representative of what you'd be getting for your dollar:



Plus there's a fine of €20,000 if you don't complete renovation within 3 years.

Re: Economic FUCKDOWN
« Reply #64 on: June 22, 2020, 12:32:26 PM »
I actually love that. Fuck me, for like 80p.

Blue Jam

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Re: Economic FUCKDOWN
« Reply #65 on: June 22, 2020, 04:59:44 PM »
Just went out for my daily allowance of exercise and counted twelve "To Let" signs on one street. Our own tenement block has one which must have been there for a month now, and this time of the year people are usually falling over themselves to secure student accommodation and festival lets. Just before lockdown a friend of mine got a job at The University of Edinburgh and was really struggling to find a flat as every viewing seemed to be attended by at least half a dozen people and flats would get snapped up in days. She'd be spoiled for choice now.

It's a bleak sight alright but I can't say I feel any sympathy for all those greedy buy-to-let landlords, especially the Airbnb twats who must now be panicking that their investments didn't come with a cast-iron guarantee after all. Fuck 'em all.


BlodwynPig

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Re: Economic FUCKDOWN
« Reply #67 on: June 22, 2020, 06:43:10 PM »
I actually love that. Fuck me, for like 80p.

You could buy the whole village for 20 quid


Re: Economic FUCKDOWN
« Reply #69 on: June 22, 2020, 08:42:32 PM »
propaganda.

Quite. It is simply not possible for a country with a fiat currency to "go bust," unless it's by choice.

Quote
Laying bare the scale of the national emergency at the early stages of the pandemic, Andrew Bailey said the government would have struggled to finance the running of the country without support from the central bank.

The Bank of England is owned by the government, and is always capable of creating as much new money as is needed to finance the running of the country. This false rhetoric about the government not having enough money is what fuels austerity, and it looks like they're gearing up for more of it post-coronavirus.

Blue Jam

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Re: Economic FUCKDOWN
« Reply #70 on: June 22, 2020, 09:00:29 PM »
This false rhetoric about the government not having enough money is what fuels austerity, and it looks like they're gearing up for more of it post-coronavirus.

Yes, this is a fear of mine too.

Mr Jam and I have been hoping to buy a flat while there's a chance they may actually be affordable. I just hope my public-sector job is safe for at least a bit longer.

BlodwynPig

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Re: Economic FUCKDOWN
« Reply #71 on: June 22, 2020, 09:15:53 PM »
Yes, this is a fear of mine too.

Mr Jam and I have been hoping to buy a flat while there's a chance they may actually be affordable. I just hope my public-sector job is safe for at least a bit longer.

I've got enough for a decent deposit but potentially no job, at least not a permanent. Conundrum. May buy two of those 1 Euro houses in Spain.

Ray Travez

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Re: Economic FUCKDOWN
« Reply #72 on: June 23, 2020, 12:38:18 AM »
The Bank of England is owned by the government, and is always capable of creating as much new money as is needed to finance the running of the country.

This only works to a point. Print enough currency and it becomes worthless. An increase in the money supply devalues the currency.

Historically, all fiat currencies return to zero.

I think we are going to see a collapse in various fiat currencies soon. My expectations are on the bleak side of pessimistic. [Edit- list of bleak predictions removed :D]

The media is still going with this being the worst recession since the great depression of the 1930s. It's not. If the great depression was Primrose Hill, this is Everest.

On the other hand, maybe I'm wrong. Maybe it'll just be more austerity.

« Last Edit: June 23, 2020, 12:50:10 AM by Ray Travez »

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Re: Economic FUCKDOWN
« Reply #73 on: June 23, 2020, 07:55:10 AM »
Kind of depends how the virus goes and how much progress can be made with treatments and vaccines.

There is sufficient wealth out there for everyone. Perhaps a period of extreme hardship, not that anyone should want that, will bring that into stark relief.

BlodwynPig

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Re: Economic FUCKDOWN
« Reply #74 on: June 23, 2020, 08:06:53 AM »
Perhaps ignoring Government 'advice' should be taken more seriously. "If the Government tells you to jump off a cliff, do you do it?"

Re: Economic FUCKDOWN
« Reply #75 on: June 23, 2020, 08:20:46 AM »
This only works to a point. Print enough currency and it becomes worthless. An increase in the money supply devalues the currency.

That's what tax is for. Not to fund government spending, but to ensure the money supply doesn't get out of control. You can print as much currency as you like, as long as you control the supply effectively with tax.

Sheffield Wednesday

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Re: Economic FUCKDOWN
« Reply #76 on: June 23, 2020, 08:22:02 AM »
Bezo has $160b. There are 7b people in the world. He should give everyone $20 and keep $20b for himself.

SOLVED

Ray Travez

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Re: Economic FUCKDOWN
« Reply #77 on: June 24, 2020, 11:26:15 AM »
Kind of depends how the virus goes and how much progress can be made with treatments and vaccines.


This problem predates the virus, though the situation has been exacerbated by it. The problem is, simply, there's too much debt in the world.

Ray Travez

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Re: Economic FUCKDOWN
« Reply #78 on: June 24, 2020, 11:39:26 AM »
That's what tax is for. Not to fund government spending, but to ensure the money supply doesn't get out of control. You can print as much currency as you like, as long as you control the supply effectively with tax.

What happens to someone of limited financial means, if one increases their taxes at the same time as their currency is losing purchasing power due to expansion of the money supply? I'd suggest that it's going to make life even more difficult for people who are already on the edge.

Ray Travez

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Re: Economic FUCKDOWN
« Reply #79 on: June 24, 2020, 11:41:04 AM »
Bezo has $160b. There are 7b people in the world. He should give everyone $20 and keep $20b for himself.

SOLVED

It's a great idea! I'm going to start an online petition :)

Re: Economic FUCKDOWN
« Reply #80 on: June 24, 2020, 12:04:18 PM »
What happens to someone of limited financial means, if one increases their taxes at the same time as their currency is losing purchasing power due to expansion of the money supply? I'd suggest that it's going to make life even more difficult for people who are already on the edge.

Ideally you have a sufficiently progressive tax system that you don't find yourself increasing taxes on people for whom tax increases are going to cause such problems.

Shoulders?-Stomach!

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Re: Economic FUCKDOWN
« Reply #81 on: June 24, 2020, 12:51:18 PM »
Bezo has $160b. There are 7b people in the world. He should give everyone $20 and keep $20b for himself.

SOLVED

Alternatively we could put around that he is a paedophile and wait for 'Natural Justice'.

Ray Travez

  • 'please scream inside your heart'
Re: Economic FUCKDOWN
« Reply #82 on: June 24, 2020, 04:45:17 PM »
Ideally you have a sufficiently progressive tax system that you don't find yourself increasing taxes on people for whom tax increases are going to cause such problems.

You're right. I guess in time we'll see if the tories turn out to be more or less than 'ideal' ;)

Blue Jam

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Re: Economic FUCKDOWN
« Reply #83 on: July 25, 2020, 10:18:43 PM »

BlodwynPig

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Re: Economic FUCKDOWN
« Reply #84 on: July 26, 2020, 10:40:15 AM »

Non Stop Dancer

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Re: Economic FUCKDOWN
« Reply #85 on: July 26, 2020, 05:32:57 PM »
About 90% sure I'll have to make at least 2,if not 3 people redundant in the next few weeks. If the government had included company directors in those receiving financial help that almost certainly wouldn't be the case. Very short sighted. The next 3 months is when keeping people furloughed will start to cost employers money, so I'd be surprised if the unemployment figures weren't absolutely horrendous by Christmas. Yes, things will start to get better as the country comes out of lock down, but for many businesses the damage will already have been done.

Re: Economic FUCKDOWN
« Reply #86 on: July 26, 2020, 09:01:40 PM »
Fucked

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