Grimalkin
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Posts posted by Grimalkin
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16 minutes ago, tegs07 said:
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 and tried to talk down any further inflationary forces. Wage inflation being a significant factor.
Investors have now lost faith in UK PLCs 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.
Neoliberalism isn't a conspiracy, it is an ideology:
"The Bank of England has decided to buy debt from oil companies such as BP, Shell and Total. The government has given easyJet a £600m loan, even though, just a few weeks ago, the company frittered away £171m in dividends: profit is privatised, risk is socialised. In the US, the first bailout includes $25 billion for airlines. The government is sucking as much oil as possible into strategic petroleum reserves and sweeping away pollution laws, while freezing out renewable energy. Several European countries are seeking to rescue their airlines and car manufacturers..."
https://www.monbiot.com/2020/05/01/bail-out-the-planet/
It's exactly what the present government are pathologically persuing...
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“Modern British behave as if intelligence were some sort of hideous deformity.”
Frank Zappa. -
Careful you don't learn something...
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"We don't need experts."
Oh wait...
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3.16 - 3.40. Sound familiar?
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Just now, Dad3353 said:
Hmm... It loses a little something in translation, I feel.
Can't you find something better to do?
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Neoliberalism – the ideology at the root of all our problems:
https://www.theguardian.com/books/2016/apr/15/neoliberalism-ideology-problem-george-monbiot
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5 minutes ago, neepheid said:
Quote source needed
Take your pick.
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Wages have been stagnating for the last 40 years...
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"The governor of the Bank of England has come under fire from unions and earned a rebuke from 10 Downing Street for suggesting workers should not ask for big pay rises to help control inflation.
Andrew Bailey said he wanted to see “quite clear restraint” in the annual wage-bargaining process between staff and their employers to help prevent an upward spiral taking hold.
However, his comments drew a furious response from union leaders, as households face the worst hit to their living standards in three decades as soaring energy prices cause inflation to outstrip wage growth."
The bank of England are part of it. They're not going to mention neoliberalism are they.
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“The real hopeless victims of mental illness are to be found among those who appear to be most normal. "Many of them are normal because they are so well adjusted to our mode of existence, because their human voice has been silenced so early in their lives, that they do not even struggle or suffer or develop symptoms as the neurotic does." They are normal not in what may be called the absolute sense of the word; they are normal only in relation to a profoundly abnormal society. Their perfect adjustment to that abnormal society is a measure of their mental sickness. These millions of abnormally normal people, living without fuss in a society to which, if they were fully human beings, they ought not to be adjusted.”
Aldous Huxley - Brave New World Revisited.-
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"We're all built up with progress
But sometimes I must confess
We can deal with rockets and dreams
But reality
What does it mean?..." -
9 minutes ago, Dad3353 said:
And yourself..? Keeping busy..?
I'm as busy as I want to be.
"Work, the gospel of work, the sanctity of work, laborare est orare - all that tripe and nonsense. 'Work!' he once broke out contemptuously against the reasonable expostulations of Philip Quarles, 'work is no more respectable than alcohol, and it serves exactly the same purpose: it just distracts the mind, makes a man forget himself."
Aldous Huxley - Point Counter Point.
I live in the here and now, the future looks incredibly bleak. -
2 hours ago, BigRedX said:
Actually it is - the origin is from a R4 comedy program.
Getting out much?
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Gary's foul language is an affront.
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Instant depreciation.
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Now is the winter of our discount tents.
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"You're only a stone's throw, from all the violence you buried years ago..."
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4 minutes ago, Nicko said:
There is nothing stopping the ordinary person joining a political party. If enough ordinary people did that perhaps the parties would begin to understand what the ordinary person wants.
I should also clarify that my comment was really in response to the issue of boomers and cheap housing - and it's important to realise that the issue of house price inflation over and above wage inflation is not a recent phenomenon connected to a specific colour of government.
Neoliberalism. That's why wages have stagnated for the last 40 years. Socialism for the rich, capitalism for the poor. In a true free market, the banks would never have been bailed out.
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10 minutes ago, chris_b said:
The political system is responsible. The two party, first past the post system is to blame. If your choices are limited to toffs from Eton or Hampstead lefties, you have no sensible choice at all.
Then, like the US, you have to hold your nose and vote for the lesser of two evils. It should be easier in our present circumstance, one party is pathologically insane and has/is causing the ruination of the country. And I'm no fan of the other either.
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Apparently…..it isn’t a job
in General Discussion
Posted
The BOE are bailing out industries to the tune of many millions, while telling workers not to ask for a pay rise...