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tegs07

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Everything posted by tegs07

  1. CNC made instruments only become really cheap when they are made in volume. I expect these are very limited runs as I have never seen one for sale in a music shop, online or being played live ever. Until this thread I had no idea they existed.
  2. **For quick answer skip to the bottom** There are arguments that any overall increase in the money supply is inflationary. Where, who and how that money comes from does not matter. That’s pretty much my point about QE which was basically “printing” and increasing the overall volume and velocity of “money”. This money found its way directly (purchasing on the high street) or indirectly (purchasing of assets such as property) into the economy driving prices up as well as propping up the price of government bonds. As the supply chain was broken due to recession in 2008 and again during Covid the effects were exasperated as more money was chasing fewer goods and services. The Ukrainian situation has also had a massive impact. Central banks have a very blunt tool to curb the increase in prices and that is hikes in interest rates. The theory being people will stop spending and the economy will contract rather than grow. Usually the indicators lag resulting in a recession. Its worth remembering also the government have no money other than what is raised by taxation. The rest is debt - effectively gilts sold to investors. When inflation is high investors will not want to buy gilts (government i.o.u) without an additional premium. Who wants to tie up money for 2 or 3 years at 4% when inflation is double that? ”Printing” is not a normal state of affairs. Raising money through taxation and bond sales is the norm. QE was supposed to be an emergency measure and one that is having delayed ramifications. The government didn’t “print” rather central banks did on their behalf. They basically electronically created credit (bank reserves) to purchase government bonds. The aim was to provide a crutch to support gilt prices and the long term aim was to sell the bonds on to 3rd parties when they hit maturity and had to be paid back. (i think this is correct? someone clarify if not please). In a similar way high street banks also need to raise funds to offer mortgages. Some comes from existing lending deposits and loans (reserves) but the rest needs to be raised in the money markets. With inflation and more importantly inflation expectations so high these banks are facing a premium to do borrow and this is being passed back to borrowers in terms of much more expensive fixed rate mortgages. Inflation when it is entrenched can destroy an economy. ****IF YOU want to skip to a quick answer: To be very brief governments don’t print they tax. Any gaps between what they can’t raise in tax and what it costs to run the country (the deficit) is financed through selling bonds (debt which has to be repaid). Any* cash that finds its way into the economy will lead to inflation. Some inflation is seen as positive. (Why bother to innovate or be productive if your money makes the same stuffed under a mattress) but when inflation gets out of control (too much cash chasing too little goods and services) it causes havoc. To tame it you need to either contract the money supply (tighten credit and restrict spending) or turbo charge the goods and services produced (Truss wasn’t totally mad just utterly delusional). *wages ** lottery wins *** booming property market etc Edit: The above is a simplified answer so has some omissions.
  3. don’t let me down - those 4 scousers
  4. Japan has suffered decades of deflation, largely as the result of letting an asset bubble get totally out of control and then collapse in the early 90’s. We may well follow them. One thing that surprised “experts” however was that with the decline in economic growth and stagnation in wages the overall “happiness” of the population actually increased.
  5. Sure it can. Just type into ChatGPT “write me five paragraphs of cliche ridden gibberish with random references to Lord of the rings” ….. ducks and runs for cover
  6. This really is a beautiful instrument. Someone buy it please so I can stop drooling over it.
  7. They were a band in the 90’s. A damn fine one. Amnesia - Chumbawumba
  8. If the powers that be have a trump card now is the time to play it. Things are Truss bad with gilts yields. Maybe hold off the GAS for a while. Something is brewing and it doesn’t smell good. I tend to talk into a bit of a void as folks find this stuff boring. I guess it is, if it wasn’t so fundamentally important in determining one of the biggest costs of our adult lives. Anyhow for anyone who may be interested, debt swaps are struggling to be filled even at a couple of % above the current bank rate. In plain english this translates as mortgage products are likely to be pulled and repriced at a higher rate over the coming days. 2 year fixed could easily hit 7% if this continues.
  9. Had both, kept the East. Just more refined. Nothing wrong with the quality of the stinger. It gives a decent approximation of the original 2 band Stingray IMO, but if you can afford to then buy the East. I doubt if you will regret the decision.
  10. Dear reader Our lawyers refer you to page 43, section 5, paragraph 4 of our T&Cs entitled “Our advice and your responsibility” in which we clearly state, in latin, that we can say whatever we want and you are responsible for your own actions. We wish you a good day and as a gesture of goodwill will halve the usual legal fee to a mere £200 for this clarification.
  11. I think that may be constipation. Maybe try some prune juice, followed up with four pints of stout and a vindaloo 👍
  12. The war hasn’t helped but UK inflation had overshot its target by a staggering 250% before the Russian invasion. If you measured RPI (which includes housing costs ) it went parabolic after Covid. And still they sat in their hands and did nothing. Source ONS. Seriously! Brown trousers time. I have covered most of this stuff before. Let’s let the guys talk about GAS and stuff not selling. Happy to take discussion to another thread.
  13. Royal Blood would have been better venting their frustration at their manager/booking agent.
  14. There does seem to be a growing number of really nice instruments for sale at some very reasonable prices that get little interest. Sign of the times.
  15. Well I’ve learned a lot from various people on BC, particularly on topics I know little about such as technical build and music theory. I guess the key is knowing my limitations and having a willingness to learn rather than get defensive and insult people. Plenty of people post about prices going up sharply, the cost of living, about mortgage rates increasing etc. I have some knowledge around these issues and try to explain the economic factors that drive them. Most people are politely bored, some interested, some just plain rude. If you want to vent some spleen do it at Andrew Bailey and the BOE. They are the ones that let inflation get out of control and they are the ones raising interest rates and defining the factors that influence each decision. Their decisions have directly impacted the level of mortgage debt people have taken on and the increase in costs of repaying that debt.
  16. Depends if you have songs that require different tuning etc
  17. personal jesus - going to go for the cash version
  18. Absolutely. Even I’m bored with myself. Edit: The reason I am so preoccupied with this matter though is even if by some miracle the powers that be manage to halve the current rate of inflation it doesn’t mean prices will go down, just that they will RISE at twice the rate they did two years ago. It’s fairly shocking.
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