Impending Economic Doom?

[Anubis]

21 hours ago, Clem H Fandango said:

No economic doom here. I don't pay for things like lube and Eastern European hookers I prefer to save my money for more important things.

Vaseline and Western European hookers?

[Anubis]

3 hours ago, Moctezuma said:

Will be interesting if Europe has another 'migrant crisis' off the back of this, I note sub Saharan Africa has had a nice run of coups lately, this may exacerbate that.

Not to mention the decrease in available drinking water. It's coming.

[tokyojoe]

4 hours ago, Anubis said:

Not to mention the decrease in available drinking water. It's coming.

That's been beckoning the world over for some time now.

[Gnasher]

Weapons manufacturers are buying trousers with deeper pockets, meanwhile...

 

 

https://www.theguardian.com/business/2022/mar/08/russia-sanctions-to-cut-uk-living-standards-by-2500-a-person

[Moctezuma]

It'll be interesting to see what the Russians (Putin and Nabiullina) do in retaliation to the sanctions from the west as they do have the ability to turn off the taps on various natural resources that are exported (aluminum, platinum, gold, wheat etc.) which would lead to further prices rises for those in the west and developing countries. Though given the likely rise in price of those commodities linked to oil, perhaps they are getting too greater returns to make those kind of moves.

[House of Dirk]

On 04/03/2022 at 05:47, Paulie Dangerously said:

The goal is for the average person to have no expendable income. Can't afford a car? Rent one forever. Can't afford a house? Rent one forever. Can't afford a TV? Rent one forever. Can't afford a holiday? Tough shit. You'll own nothing and have nothing and be thankful for it. 

 

Well fuck this for a game of mother fucking soldiers. 

[Gnasher]

 

 

https://news.sky.com/story/ukraine-war-cost-of-living-squeeze-set-to-deepen-as-conflict-adds-to-energy-price-spiral-12560347

 

https://www.thegrocer.co.uk/finance/media-bites-10-march-russia/ukraine-cost-of-living-crisis-unilever/665394.article

 

https://www.independent.co.uk/news/business/russia-ukraine-oil-sanctions-economy-b2028140.html

[Gnasher]

The alternative veiw of sanctions, my veiw is they should have been targeted against the oligarchs and powerful in Russia, but hey hoy,

 

https://seekingalpha.com/article/4494342-why-sanctions-do-not-work-mostly-hurt-ordinary-people

[Pureblood]

Food rationing incoming

 

https://www.esmmagazine.com/supply-chain/portugal-sees-rationing-of-food-products-167093

 

... the president of the Confederation of Farmers of Portugal (CAP), Eduardo Oliveira e Sousa, said that producers will start rationing food.

 

He told weekly Expresso that Portugal finds itself “in a food emergency situation like never before” and predicts 20-30% price hikes for basic food products in the coming days in addition to shortages.

[Red Shift]

On 04/03/2022 at 12:36, Pureblood said:

Word on the street is that long term inflation linked to structural shortages of oil is on the way.  Not my area of expertise, hence the question mark, but we already have the energy prices thread, the much talked about "cost of living crisis" and so on.

Not sure how important this is, if true, and also, if true…was it tied to the invasion of Ukraine in any way? Somebody thinks it is important.

 

https://smoothiex12.blogspot.com/2022/03/this-is-important.html?m=1#disqus_thread

 

 

[Red Shift]

Fucking hell. No Big Macs? I’m sure we’ll thrive.

 

 

[Pureblood]

You wonder how they'll cope without the golden arches. 

[cochyn]

It think this doom mongering is short-termism at it's worst. Fuelled by a rabid media for whom consumer's doomscrolling is now their lifeblood. We've lived through periods of much higher inflation than those mooted. We're also living through a time of record low prices for food, whilst our farmers slide deeper into debt and food waste amongst consumers is at unprecedented scales. 

 

All that said, there is an inherent structural problem in the distribution of wealth. Xi Jinping has had a crack at this with his shared prosperity policies (basically, seizing assets from China's ultra-wealthy and jailing those who don't comply). But even he admits this has failed as a policy as the rich are too damn efficient at squirreling away their excess wealth. Excess wealth: Jesus wept. Money is agency and can enable great things for humanity as a whole. Money does absolutely nothing stacked up in the trillions in offshore accounts.  Maybe there is inherent flaw in money (who on earth NEEDS eight-figure bank balances?). I don't know.

[Pureblood]

35 minutes ago, cochyn said:

We're also living through a time of record low prices for food, whilst our farmers slide deeper into debt and food waste amongst consumers is at unprecedented scales. 

Are you quite sure about this?

 

https://www.theguardian.com/world/2022/mar/14/ukraine-invasion-worldwide-food-crisis-warns-un

 

Overall, food prices have been rising since the second half of 2020, according to the FAO, and reached an all-time high in February, after wheat and barley prices rose by nearly a third and rapeseed and sunflower oil by more than 60% during 2021. The price of urea, a key nitrogen fertiliser, has more than tripled in the past year, on rising energy prices.

[Anubis]

8 hours ago, cochyn said:

It think this doom mongering is short-termism at it's worst. Fuelled by a rabid media for whom consumer's doomscrolling is now their lifeblood. We've lived through periods of much higher inflation than those mooted. We're also living through a time of record low prices for food, whilst our farmers slide deeper into debt and food waste amongst consumers is at unprecedented scales. 

 

All that said, there is an inherent structural problem in the distribution of wealth. Xi Jinping has had a crack at this with his shared prosperity policies (basically, seizing assets from China's ultra-wealthy and jailing those who don't comply). But even he admits this has failed as a policy as the rich are too damn efficient at squirreling away their excess wealth. Excess wealth: Jesus wept. Money is agency and can enable great things for humanity as a whole. Money does absolutely nothing stacked up in the trillions in offshore accounts.  Maybe there is inherent flaw in money (who on earth NEEDS eight-figure bank balances?). I don't know.

 

Yes. There is a sort of insanity to it. I've always said that I don't want to divest the ultra wealthy of all of their wealth, just more of a fair share to help everyone else. Its not like they still won't be able to run their private jets, eat in expensive restaurants every evening, and leave incredible legacies to their children. It would be money they would never, ever use.

[cochyn]

9 hours ago, Pureblood said:

Are you quite sure about this?

 

https://www.theguardian.com/world/2022/mar/14/ukraine-invasion-worldwide-food-crisis-warns-un

 

Overall, food prices have been rising since the second half of 2020, according to the FAO, and reached an all-time high in February, after wheat and barley prices rose by nearly a third and rapeseed and sunflower oil by more than 60% during 2021. The price of urea, a key nitrogen fertiliser, has more than tripled in the past year, on rising energy prices.

Sorry, I meant to say in recent years. Certainly between 2010-2020 commodity prices were significantly lower than they were in the 2000s. The spiking we’re seeing now looks unprecedented but I guess that’s futures trading for you. If it were me, I’d ban all speculation on foodstuffs as it amplifies irregularities and serves only to make speculators rich as people, potentially, starve. It’s fucked up.

[Section_31]

10 hours ago, cochyn said:

It think this doom mongering is short-termism at it's worst. Fuelled by a rabid media for whom consumer's doomscrolling is now their lifeblood. We've lived through periods of much higher inflation than those mooted. We're also living through a time of record low prices for food, whilst our farmers slide deeper into debt and food waste amongst consumers is at unprecedented scales. 

 

All that said, there is an inherent structural problem in the distribution of wealth. Xi Jinping has had a crack at this with his shared prosperity policies (basically, seizing assets from China's ultra-wealthy and jailing those who don't comply). But even he admits this has failed as a policy as the rich are too damn efficient at squirreling away their excess wealth. Excess wealth: Jesus wept. Money is agency and can enable great things for humanity as a whole. Money does absolutely nothing stacked up in the trillions in offshore accounts.  Maybe there is inherent flaw in money (who on earth NEEDS eight-figure bank balances?). I don't know.

 

Great post. Money is like blood in a body, the more of it you take out, the less blood there is to pump and the more the body weakens.

 

What you see around you, especially in the North, is the detritus left by a working class population that quite simply has no money, and a consumer economy where the consumer has no money is doomed. Hence gone are the days of department stores, in come payday lenders and B&M. 

 

We've tried to offset it with debt, housing debt and overinflated house prices giving people false confidence in what they think they're worth, now if you can't afford to buy a car -  they'll lease you one. They prop up town centre economies with student debt, as they're one of the few demographics that has spending power, even though it's not their money, and that'll be another economic timebomb.

 

The company the Bitch works for is a good example. It used to be ICI. They paid good wages, good pensions, hired thousands of people, built sports facilities and workers' housing, communities were built around these big employers. People drank, ate and played together. People met their wives there, their mothers and fathers worked there. 

 

Now the company is a shell of its former self and none of the above exists, community giving extends to a kids' playpark being built every decade or so, and its owner is the richest man in Britain and lives in Switzerland. Oh and of course, supported Brexit.

[Creator Supreme]

49 minutes ago, Section_31 said:

 

Great post. Money is like blood in a body, the more of it you take out, the less blood there is to pump and the more the body weakens.

 

What you see around you, especially in the North, is the detritus left by a working class population that quite simply has no money, and a consumer economy where the consumer has no money is doomed. Hence gone are the days of department stores, in come payday lenders and B&M. 

 

We've tried to offset it with debt, housing debt and overinflated house prices giving people false confidence in what they think they're worth, now if you can't afford to buy a car -  they'll lease you one. They prop up town centre economies with student debt, as they're one of the few demographics that has spending power, even though it's not their money, and that'll be another economic timebomb.

 

The company the Bitch works for is a good example. It used to be ICI. They paid good wages, good pensions, hired thousands of people, built sports facilities and workers' housing, communities were built around these big employers. People drank, ate and played together. People met their wives there, their mothers and fathers worked there. 

 

Now the company is a shell of its former self and none of the above exists, community giving extends to a kids' playpark being built every decade or so, and its owner is the richest man in Britain and lives in Switzerland. Oh and of course, supported Brexit.

I'm assuming that's Ineos and Jim Radcliffe. Cunt of a company, cunt of a human.

[Red Shift]

The extent of the sanctions, the Chinese/Russian counter move to the sanctions, and the possible outcome to the US dollar in a currency war.

 

https://citizens.news/601953.html

[Moctezuma]

I think given the accumulation of capital by the wealthiest during Coivd that asset/house prices are likely to keep rising as they look for safe ports of call, with rentierism or 'passive income' (as is being lauded) being one of those.

 

This has an amazing effect on my brain as I see the housing ladder getting further and further away from me, feels great...

[Moctezuma]

On 16/03/2022 at 11:38, Section_31 said:

 

Great post. Money is like blood in a body, the more of it you take out, the less blood there is to pump and the more the body weakens.

 

What you see around you, especially in the North, is the detritus left by a working class population that quite simply has no money, and a consumer economy where the consumer has no money is doomed. Hence gone are the days of department stores, in come payday lenders and B&M. 

 

We've tried to offset it with debt, housing debt and overinflated house prices giving people false confidence in what they think they're worth, now if you can't afford to buy a car -  they'll lease you one. They prop up town centre economies with student debt, as they're one of the few demographics that has spending power, even though it's not their money, and that'll be another economic timebomb.

 

The company the Bitch works for is a good example. It used to be ICI. They paid good wages, good pensions, hired thousands of people, built sports facilities and workers' housing, communities were built around these big employers. People drank, ate and played together. People met their wives there, their mothers and fathers worked there. 

 

Now the company is a shell of its former self and none of the above exists, community giving extends to a kids' playpark being built every decade or so, and its owner is the richest man in Britain and lives in Switzerland. Oh and of course, supported Brexit.

 

Agree with all of this, the massive influx of cash via quantitative easing is another attempt at staving off the wolf from the door. It's great that we basically live in a casino finance bubble, that governments and firms will do anything to stop popping. 

[Pureblood]

https://www.theguardian.com/world/2022/apr/06/sri-lanka-facing-imminent-threat-of-starvation-senior-politician-warns

 

Sri Lanka is facing the imminent threat of starvation for its population of 22 million as the economic crisis in the country continues to worsen and food becomes increasingly scarce, a senior politician has warned.

 

Speaking in a debate in parliament, held against the backdrop of the worst financial crisis to hit the country since independence – and with anti-government protests spreading across the country – the speaker of the parliament, Mahinda Yapa Abeywardana, warned that this was “just the beginning”.

 

“The food, gas and electricity shortages will get worse. There will be very acute food shortages and starvation,” Abeywardana told the legislature.

 

https://www.aljazeera.com/news/2022/4/5/peru-imposes-curfew-to-temper-down-protests-amid-fuel-price-hike

 

Peru fuel protests: President Castillo imposes curfew in Lima

The Latin American nation has witnessed protests triggered by rising fuel and fertiliser costs in the wake of the Ukraine war.

 

 

The move comes as demonstrations across the country continued into their second week. The government has been unable to bring prices down after the Russian invasion of Ukraine caused a spike in energy, food and fertiliser prices worldwide.

 

The rising fertiliser prices were triggered by Western sanctions on Russia, a major exporter of potash, ammonia, urea and other soil nutrients.

[Gnasher]

Typical Daily Mail hyperboil, or close to the truth?

 

https://www.dailymail.co.uk/news/article-10709135/Alarming-prediction-huge-yearly-bills-families-Ukraine-war-drags-on.html