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Friday, 24 September 2021

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So Loz I'm supposing there's no 'bright beach' upon to look forth toward "brighter tomorrows"?

Alas - The near-term and the relatively near-term appears awfully depressing.

Got a Marshall Plan planned back when you burned our White House in 1815 - that you Brits "considerately" have in ind for us? (Hopefully not including a plan to buy submarines or anysuch but still, I'm concerned "this" is not going to turn out well ...

Oh well

Well SoD, if your predictions come to pass, the old saying that Democracies don't die...they just commit suicide will be true. Same with republics.

But then so do socialist autocracies that are flavored with Maoism:

https://www.powerlineblog.com/archives/2021/09/is-president-xi-reviving-maoism33.php

I only voted for one of those...

JK, sorry about turning the White House into the Black House way back then. Our bloody BLM supporters get everywhere you know!

I don't know who Johnson and Biden think they are not putting a multi-market in place between Uncle Sam and Blighty.

Biden you could understand, coming as he does from the socialist party of America, still believing that trade negotiations have any worth whatsoever other than to keep pols and their appointees in travel to exotic places and rich dinners.

But Johnson, who spent years editing the Spectator and writing and signing off Libertarian tracts by the library load? What a duplicitous, hypocritical, stinking turncoat.

Just think about it: Everyone since Adam Smith knows that free trade makes two countries more prosperous, let alone a single market, let alone a multi-market. Why would Biden and Johnson want to stop the US and UK from being more prosperous?

Why? WHY? WHHHYYYY WOULD THEY DO THAT?!

SoD

The answer to what's wrong is always democratic socialism, isn't it mein herr? You don't know how good you've got it. In Britain the richest 1% own about 25% of all wealth. In the US they have over 40%. The imbalance is largely a result of outsourcing, the 2007 economic meltdown, and the pandemic.

Because worker wages have fallen far behind in real terms, many are taking early retirement. Thus the shortage of truck drivers, which we also suffer. There's talk of lowering the age for commercial drivers to 18. What could possibly go wrong? Shortages of nearly all goods are caused by bottlenecks in global supply chains.

In the case of vehicles, shortages are also due to your supposedly god-like market forces:

"The chip shortage itself is rooted in the early weeks of the pandemic last spring when the automakers largely shut down, and when suppliers producing microchips for automakers had turned their capacities in the direction of computer and gaming console makers. When the auto industry experienced a sudden bounce-back in most major markets last fall, suppliers were not able to shift away from contracts with these electronics companies, who had experienced rapid growth in consumer demand during lockdowns around the world."

Point your finger all you like. Nearly no one is fooled other than neoliberals and globalist true believers. And, BTW, there are some signs the banks are repeating their little game with mortgages and we're in for yet another crash and more bailouts.

Oops. Forgot the link to the notoriously left wing Autoweek:

https://www.autoweek.com/news/industry-news/a35960830/us-auto-plants-shutdown-chip-shortage/

there are some signs the banks are repeating their little game with mortgages and we're in for yet another crash and more bailouts

Some signs? The banking sector in Blighty is still part owned by the state and bit that isn't is a monopoly and cartel stitch-up. It's about as market as a DHSS office. This sucker is going down - again!

I am the fifth rider of the apocalypse, btw. Last time round I took a Northern Rock mortgage (or "Northern Crock" as it was affectionately known), and Northern Rock took the whole financial edifice tits up in Blighty days later! Northern Crock was our Freddy & Fanny May, Leyman Bros, or whatever they were in the US. Stretched myself until my financial pips were squeaking, and then some more. How they let me do it was a bleedin' mystery to me. Even my financial adviser scratched his head with a "ho-hum"! No problem for me when the solids hit the fan though, the slate got passed to someone else and they honoured the deal! It's always better when you borrow from them when they go bust than when you lend them and they go bust!

So here's the warning: Son of Duff is re-mortgaging and doing something with property again. That portents very ill!

Whenever I have touched real estate and finance in the past, bad things happened! Not to me mind, but to everyone else.

Short property. Call your debts in. Borrow to the hilt. The curse of SoD is evil.

You have been warned.

SoD

While watching the banks and 'doing something with property again'...watch real estate and banking in China.

It's hard to make a case the UK government is more in bed with the banks than anyone else's. Just so the Aussies don't feel left out:

"Australian home prices have surged almost 20 per cent over the past year, and investment bank UBS has warned that a record level of "liar loans" as buyers "chase the market" could be one reason why."

https://www.abc.net.au/news/2021-09-11/liar-home-loans-mortgage-lending-house-prices/100452322

And Whitewall makes a good point:

"BEIJING, April 16 (Reuters) - Property purchases in China funded through bank loans fraudulently obtained by speculators are fuelling [sic] already red-hot real estate markets in its biggest cities and beginning to alarm regulators."

https://www.reuters.com/world/china/surge-illegal-bank-loan-funded-china-property-buys-worries-regulators-2021-04-16/

The setup is global:

https://www.youtube.com/watch?v=PIAXG_QcQNU

Australian home prices have surged almost 20 per cent over the past year

Don't follow the housing market all that closely but the weekly sales results and trends appear on the News each Sunday and prices seem to be rising. Where I live on Melbourne's far outer fringe [by the sea of course] the demand is obviously strong. No sooner does a "For Sale" board go up in the front yard than a "Sold" sticker appears on it.

I am no economist but it seems to me that house prices rise just like everything else does.

Since the early '60's She Who Must Be Obeyed and I have owned three houses and each has sold for a lot more than we paid for it.

On the bright side and totally distant from the subject in hand we are buying nuclear powered submarines from the US and UK and ditching the bloody awful contract for French subs - which naturally is driving Les Frogs nuts screaming "Treachery" that we have changed our minds.

We owe them nothing - there are almost 66,000 Australian dead buried there as a result of defending them in WW1 and 34,800 from WW2 but that hasn't stopped Mini-Macron from throwing a hissy fit.

AussieD, over here, Melbourne is starting to make 'lockdown' news as things seem to be getting pretty tense between the people and their representatives?

G'day Whitewall,

Melbourne has the somewhat dubious distinction of being the most locked down city in the world. We have a socialist Premier who says one thing and then does what he pleases - usually lock the place down.

People are getting thoroughly pissed off with the situation and there have been growing protests about the shutdown particularly when we look across the border to New South Wales who are managing the crisis much more efficiently.

Even the building unions, his most fervent supporters, are now saying enough is enough.

Support for protest was growing quite steadily until the yobbos took their protest to our Shrine of Remembrance which is sacred ground to most of us. [www.shrine.org.au] In one stupid action they lost all credibility and support.

One thing is for certain and that is that the Premier is becoming the most despised individual in this State.

We are due for an election next year so hopefully people will remember the hash he has made of handling the pandemic and give the bastard the old heave ho.

https://www.telegraph.co.uk/opinion/2021/09/25/paying-higher-taxes-worse-services/

The Government needs to fix this situation, fast. Otherwise voters are going to start asking why they are paying even more in taxes – the highest in decades by some metrics – to finance services that are palpably getting worse.

"... to start asking why ..."? Start? The services have been "palpably getting worse" for the money since 1948 when the state started running them.

The real question is "Why are the Brit people only just about to start asking why the services have been 'getting palpably worse' for the money now, and not earlier - like nearly 75 years earlier and ever since?"

Because they've had the most comprehensive brainwashing in the history of mankind from state "education", the BBC, and the rest of the state manipulated MSM, that's why.

SoD

"Because they've had the most comprehensive brainwashing in the history of mankind from state "education", the (BBC), and the rest of the state manipulated MSM, that's why." Us too. Covid has finally opened some eyes. Hope it's not too late.

In Britain the richest 1% own about 25% of all wealth. In the US they have over 40%.

Bob, you are so full of it, honestly you are ...

https://www.google.com/amp/s/www.forbes.com/sites/timworstall/2013/06/01/astonishing-numbers-americas-poor-still-live-better-than-most-of-the-rest-of-humanity/amp/

The New York Times, FFS ...

Notice how the entire line for the United States resides in the top portion of the graph? That’s because the entire country is relatively rich. In fact, America’s bottom ventile is still richer than most of the world: That is, the typical person in the bottom 5 percent of the American income distribution is still richer than 68 percent of the world’s inhabitants.

Now check out the line for India. India’s poorest ventile corresponds with the 4th poorest percentile worldwide. And its richest? The 68th percentile. Yes, that’s right: America’s poorest are, as a group, about as rich as India’s richest.

SoD

SoD,

My comment had nothing to do with the relative wealth of the US to other countries. Not even a good try, Mr. Pawn of the Plutocracy.

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