tegs07

I think I will call it a day with any further discussion as you are a bit all over the place with sources, references, time lines etc

I think a little consistency in thoughts and process would be advisable. You clearly have something to contribute but are a bit vague and sporadic in your presentation of ideas.

apples and oranges they are trying to control inflation without having to rapidly raise interest rates which would crush the indebted / hence plea for wage restraint. At the same time they are trying to stop contagion in many businesses as the cost of servicing debt is spiralling (due to gilt yields rising … arguably due to interest rates being so low). Hence “bailout” or more accurately lifeline. Monbiot’s writing dates back to Covid though not the BOE’s actions now. I actually agree with him. The zombies should have been put to rest. The article you have linked doesn’t address the situation we find ourselves in 2 years later though. Now pension funds (amongst others) are effectively being “bailed out” but workers told to be prudent. That’s what I have addressed with my response above.

I know what neoliberalism is. I would also argue that socialising banking failure was a distortion of free market capitalism as was much of the Covid response but that’s a digression. Not sure what the leap to Monbiot and bailing out carbon intensive industries has to do with the previous quote about the BOE, inflation and wages though?

The problem with trying to put everything and everyone into a nice neat box is that it never quite fits. The BOE are part of what exactly, a global neoliberal conspiracy? I see a long list of policy failures and fcuk ups, incompetence, complacency and short term thinking. It’s not a conspiracy just bad economics and poor planning. The result is an economy that can only function with sub 2% interest rates and low gilt yields. Bailey knew that rates hitting elevated levels would bring havoc which is why he has avoided raising them to the required level to stave of inflation and has tried to talk down any further inflationary factors and calm the markets. Wage inflation being a significant inflationary factor that investors in fixed income investments in particular look at. In other words the people that buy government debt and allow an economy to function. Investors have now lost faith in UK PLC’s economic prudence for a multitude of reasons, inflation is running riot and gilt yields are hitting new levels. Interest rates will have to rise and there will be all manner of unintended consequences, from margin calls whether from LDI issues as per the current pensions issues or Credit Default Swaps in investment banks. It may get messy but it’s not a conspiracy.

Carol Kaye, Kim Deal and Ida Nielsen definitely get my vote.

I’m always concerned about how difficult it is for people. Having secure shelter is a fundamental requirement. It shouldn’t be a luxury or a casino.

The former governor of the bank of England, Mervyn King once said “house prices are a matter of opinion, debt is real”. The debt is dependent upon affordability which is dependant upon interest rates. House prices are no longer tied to (sensible) salary (multiples) as the criteria for purchase IMO but are totally dependent upon access to cheap credit. Remove this from the equation and what houses are really “worth” will be revealed. My personal opinion is that two decades of ultra cheap credit has distorted the economy entirely, shifted asset ownership into the hands of people who can afford the risk of loading up on cheap credit and made the risks far higher for those on the first rungs of the ladder. This disproportionately affects the young.

MM Bongo??

sgt.peppers lonely hearts club band - beatles

dopes to infinity - monster magnet

sweet leaf - black sabbath

Dead cities - FSOL

babylon system - bob marley

it ain’t what you do (it’s the way that you do it) - fun boy three & bananarama

girlfriend in a coma - smiths

new rose - damned

real wild child - iggy pop

dr.funkenstein - parliament

mama’s got a girlfriend now - ben harper

once more - the wedding present

It’s certainly a crime against aesthetics …

The description fesses up to the fake decals.

she sells sanctuary - the cult

something wicked this way comes - the herbaliser