Jack Sparrow
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Posts posted by Jack Sparrow
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Very little word from Gordon Brown on the deepening economic crisis
Looks like he has retreated to a bunker.
I was having a conversation with my wife last night. We were considering two scenarios.
Either:
1./ Politicians, the people we elect, and the bankers who create the money supply are just criminally inept, stupid, greedy, ignorant fools and we have arrived at this abyss through incredible incompetence, self interest and greed
2./Everything that has transpired was deliberately contrived. The credit bubble and the insane policies of politicians and bankers have been deliberately engineered to achieve certain political and socioeconomic objectives, namely the bankruptcy of the UK and the USA and a big push forward towards global government and global monetary union.
Wife goes for option 1
I'm in the option 2 camp
I think you are both right i am keeping my options open
We aren't getting divorced yet though..hehe.
Either way, we are wholly FUBARed
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Police negotiators..... ambulance......Brigade standing by......Bailiffs a-plenty...
but what ? No broken arm ??
http://www.sheffieldtelegraph.co.uk/news2/...ssed.4412888.jp
all we need is a potato famine and we have a new round of "clearances"
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This may explain why the west is so fearful of Islam and has manufactured the terrorist threat. As the banksters would not like to lose the ability to charge interest.
The terrorist threat is real enough, but if you examine why it is alive and kicking perhaps we need to look at how our western institutions, like banking, are seen as so corrupt by the Islamic nations. It is no coincidence that it was the world trade centre that was targeted, several times, by these people in an effort to undermine our society.
And again it was the Square Mile in London, home of many of our financial institutions that was targeted by the IRA and led directly to the good Friday agreement.
We need a better system, the question is what do you replace it with, or how do you reform a system to make it work better. I quite like the german attitude to business, this is a country that protects its industry, and therefore its citizens from foreign ownership by restricting the amount of equity that a foreign shareholder can hold in your company.
in addition they have a much more responsible attitude to banking and home ownership, they also sorted out their immigration problem a few years ago!!
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Why do you pay 30% tax? Surely you either pay 20% or 40% depending on what earnings bracket you fall into.
Anyways... Council tax is the real pisstake as far as i'm concerned, since income tax has in the past been considerably higher than it is now. Mine is over £800 a year for a one bed flat that produces approximately one bag of rubbish every 9 days or so, and then i'm not really sure what else the Council do with my money.
The amount of tax you pay depends upon your consumption, do you run a car, drink alcohol, smoke cigarettes, buy insurance, eat out, pay for taxi's, pay NI, go to the cinema, watch television, buy a newspaper, wipe your **** cos of you do your real rate of tax is around on average 69%, more if you consume more goods and services.
The real issue, and its one that was addressed on Radio 4 earlier this week, and no one from this blog has picked it up, is all about the nature of our banking system, why we charge interest and how this pack of cards is maintained for the benefit of very few rich city fat cats and the govt. at the expense of the population as a whole.
The reason our economy is in the shit is that banks and investment houses do not share your business risk, there only aim is securitisation of your assets if your business fails. Banks do not share the risk, It is why we have no real manufacturing economy anymore and why we have become reliant upon financial services, if you borrow money and pay interest you become a slave to the bank (for bank read HM government).
This is why under Sharia law (Islamic law) banks are not allowed to charge interest and additionally they must take a share in your business as a partner, they share the risk as an investor and hopefully make a profit from your endeavours, which is an honourable way to do business. incidentally, this was also the christian way of doing business a few hundred years ago, before our politicians ******ed it all up for us.
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This is excellent advice and one I will listen to. Many Thanks
you have nothing to lose, you will regret not going if you decided to stay here and if things dont work out you still have a bolt hole here, plus if you put your property with a rental agency you can earn off it to help your expenses while you settle in to your new life, sounds like a no-brainer to me, and just remember, if you go out there with no expectations you cannot be disappointed. Good Luck and have a great life!
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Oh dear....
Its a hoax, been doing the rounds for years, started out as a USA based one.
By the way, I have $100,000,000 that I need to get out of the country, would you like to help me for a small percentage?
I can see irony is lost on you!!
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I'd love to know some of the names
The house of commons is meant to be representative of the population as a whole, so these figures look pretty accurate to me except for the knife crime, oops I forgot PMQ,s.
what you should relly worry about is the govts proposals to allow ex-mental patients to stand for parliament, what am i saying ................................................BE AFRAID BE VERY AFRAID
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"If the rate of decline is sustained, this time series will approach zero in a handful of months' time."
Bring it on.
If the taxpayer is going to be exposed to this risk, does this mean that we also get the rewards, i am looking forward to my city bonus.
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http://news.bbc.co.uk/1/hi/uk/7521070.stm
This quote just sums up to me how imbalanced the whole thing has become, local people unable to afford to buy housing in thier own villages because Jeremy and Jemima from the city want to keep the riff-raff out :angry:
your wrong in your analysis, the people that you are talking to may appear reactionary but we have to try and understand where this accusation of Nimbyism originated. Anyone who resists any form of "progress" is classed as a Nimby.
Can I point you in a different direction, a few years ago i was given a look at the Planning Document for the Forest of Dean, which takes in a huge rural area of gloucestershire, typical nimby territory. there was the usual guff about "sustainable development" , but the most telling paragraph referred to the most desirable villages in the FoD, places such as Berkely, Redmarley, Pauntley and so on, the one thing they all had in common was that these attractive villages HAD NEVER BEEN SUBJECT TO PLANNING WHEN THEY WERE BUILT.
The reason people object to new build, of whatever type, is the relentless conformity to planning guidelines that result in the most horrible developments, to the extent that you can travel across the UK and see the loss of character and individuality that so epitomised post war britain, see it and weep.
for Gods, sake agitate, but do it for the right reasons, not because of your jealousy.
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Perhaps some one should tell the government, because they have'nt even woken up yet!!??!!
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It's been a funny old June.
Americans are living in their vehicles as their currency plunges, unhelped by the unconvincing verbal support of the Fed and the US Government. The price it costs to drive those vehicles is higher than its ever been in terms of petrol prices.
Over here, hundreds of thousands of mortgage holders are seeing 25% increases in their payments and their choice of mortgages to shift over to has dramatically declined. Inflation is at 10%, producer prices are rocketing as are staples like food, energy and water
Three major banks and the Bank of International Settlements are predicting everything from extreme financial market turbulence to a complete meltdown.
Would someone smarter and cleverer than me please tell all of us just what is going to happen, how it's going to affect our lives and work and when it will be over?
Thanks in advance.
Its quite simple really, the Arabs are going to buy you up with their soverign wealth funds, its payback time, then they will close all your factories making toilet paper and make you wash your arses, using your left hand of course, with bottled water.
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Absolutely - and rental prices in Cambridge are starting to reflect that.
The peasant army are deserting us in droves - the food outlets are struggling to find workers. Higher skill migrants such as Australians and Kiwi's are heading back home - Blimey mate - Englands going down the dunny
Yep were in the "Brown" stuff all right tee hee!!
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Dear Nimby Scum,
Yes. Sounds fine to me. If it's going to be built in the the seventh best area in England (for a minute there you sounded as if you thought we should build where people don't want to live).
Of course there's no community there, they haven't built it yet.
So, your only potentially valid criticism is that you think the houses might not be high enough quality for me. Well that's fine too. We can move some benefits chavs from prime central london there, freeing up a nice house for me here. AND do good for the environment!
They wont get built, we are heading for a major recession, the building companies are not going to spend their money or perhaps you had,nt noticed that they are all in financial difficulties, on the verge of bankruptcy, just like Her Majestys government and the Labour Party machine for that matter which to me is quite appropriate and a sort of justice really. If we are really lucky we will see the Labour party disappear altogether from the political scene, what a gift that would be and the recession would then be a price worth paying.
As for the expected rise in the population from immigration which appears to be the driver for this, the govt probably based their assumptions on the last ten years growth, the likelyhood now is of people staying away in droves, there is no work for them. Their was a huge requirment for construction only eighteen months ago, supplied from Eastern Europe etc, but these people are all going home, or had,nt you noticed.
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Hah, the UK is determined to destroy itself, if you're under 30, educated and have ambition just leave. Let the country descend into a selfish cesspit of spoilt boomers, lawless chavs and economically inactive immigrants, they all deserve each other.
In terms of prospects remember that the UK's indigenous energy resources are tapped out and the majority of our gas and oil will be imported, at a time when global demand is insatiable and we have nothing else of value to export in exchange. The lights are guaranteed to go out within a decade because a huge chunk of our electricity capacity is going offline with nothing to replace it apart from a few useless windmills that can never be built in time. South Africa was warned about the very same thing a decade ago, but the government decided to do nothing and hoped for the best just like the UK, now they have rolling black outs and the economy and mining is suffering as a result.
The pension and tax burden of supporting a whole generation of retirees, useless chavs and a bloated public sector will make 'working' in the UK completely intolerable and futile. As for the eco-towns, they will be nothing other than socially engineered $hitholes full of tiny cardboard dolls houses that will sell for a fortune in order to bail out a series of bankrupt house builders and a bankrupt government eager to cash in on land sales. They're welcome to them, no doubt most will simply become huge social housing estates full of work shy chavs that happen to vote the right way.
Anyway, nice and sunny today, isn't it?
I bet the duplicitous f***rs that run this country will also try and find a way of taxing that.I think you might be right, the Government seems hell bent on creating a huge underclass of people, its almost as though their policies are designed this way, perhaps in the vain hope that they are recruiting a mass of potential voters from these developments. Any sane person would start planning his escape route now, but I still believe in this country and we have to stop the Bxxxxxds.
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http://www.telegraph.co.uk/money/main.jhtm...barclays127.xml
Barclays warns of a financial storm as Federal Reserve's credibility crumbles
Last Updated: 7:16am BST 27/06/2008US central bank accused of unleashing an inflation shock that will rock financial markets, reports Ambrose Evans-PritchardBarclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero"."We're in a nasty environment," said Tim Bond, the bank's chief equity strategist. "There is an inflation shock underway. This is going to be very negative for financial assets. We are going into tortoise mood and are retreating into our shell. Investors will do well if they can preserve their wealth."Barclays Capital said in its closely-watched Global Outlook that US headline inflation would hit 5.5pc by August and the Fed will have to raise interest rates six times by the end of next year to prevent a wage-spiral. If it hesitates, the bond markets will take matters into their own hands. "This is the first test for central banks in 30 years and they have fluffed it. They have zero credibility, and the Fed is negative if that's possible. It has lost all credibility," said Mr Bond.....IMO there is/was nothing the Fed could do. Either way the world economy is going to pay for the housing bubble. It is odd that few are linking the current crisis to house price speculation which created the credit bubble in the first place. All bubbles burst and they do so with a great deal of collateral damage. Credit has been sucked out of the system at the same time prices for which credit is necessary are rising. How long will this last? Not long methinks. Deflation should follow hot on the heels of inflation which I suspect may be the rationale behind Ben's dovish tactics at the Fed.
I was in M&S yesterday and was given an "employees" discount card for 20% off anything (re-useable). They are apparently handing these formerly for employees only cards out in large numbers to try to stimulate a little trade.
Bottom line: without credit inflation will be like a balloon filled with hydrogen as it passes over a candle. A big whoosh and then nothing.
there are huge sums of liquidity available in Sovereign Wealth funds held by the major oil producers, and China, perhaps we should encourage them to buy us up and sell our assets while they still have some value.
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Coal has been mined in the UKs major coalfields for almost 200 years now. The easy and cheap stuff with a high EROEI has gone, see Yorks Coalfield Geology.
Coal may make a useful contribution to a non fossil fuel based energy supply over the next couple of decades, but I don't think it's any kind of long term answer.
Go to www.coal.gov.uk Briefing note printed in 1977, total recovarable reserves considered accessible by proven mining methods was 85millon metric tonnes, total UK reserves estimated at 300 years and thats based on coal consunption figures for an economy based on heavy industry.
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think about all the migrating birds these wind turbines will kill, do you not care about them?
wount someone please think of the migrating birds!
90 % of migrating birds that die en-route are shot and trapped for sport in the Med, they even eat the poor little house martins and song thrush, these are some of the birdies that overwinter in Africa
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Will the market function without electricity? That's where we will be in a couple of years unless we start planning for decline in fossil fuels, and our aging nukes. Extend their life? Are you prepared to live downwind of one of them? Do you know what a bathtub curve is?
Coal Reserves go to www.coal.gov.uk Briefing Note published in 1977, 85million metric tonnes deemed recovarabe by standard mining techniques, total reserves estimated (conservatively) at 300 years!!.
North Sea Oil-current production rates are up, the chancellr approached the industry last month to see if a revision of the taxation rules could encourage increased production AND RESEARCH INTO NEW FIELDS.
We are not going to run out of electricity, and the market WILL decide how fast we move to renewables and alternatives energies.
As for your Bathtub Curve, this analytical tool might work for washing machines but i do not see how it applies to a Nuclear Reactor installation which is subject to constant monitoring and saftey controls.
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It depends on your definition of quality of life.
IMO the correct definition of quality of life is how much “stuff” you can buy (im sure there are others too). So being able to buy less stuff is a drop in the quality of life for the people which is a negative not a positive.
Cheap energy for ever would be a good thing, not a bad thing.
And before you or anyone jumps on the “stuff is not quality of life” I ask why you eat anything other than rice and drink anything other than water. It will sustain you fine and cost you 5% of what you currently spend.
Although I do think some quality of life drops are not too big an impact. For example we could all just wear jumpers in the winter instead of T-shirts and never turn on the central heating. It would be a drop in the standard of living but not really by any great margin.
your probably right about the impact on "quality of Life", we are part of the "consumer society" and complicit in it, no one is innocent in this, we think we can go on using up resources indefinately. Depriving other creatures of habitat to create more room for ourselves, Perhaps we have to reassess our core values, decide what really matters, we might even re-discover our humanity.
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I am amazed at the gullibility of the British Public, energy is not a finite resource, any physicist will tell you that you cannot destroy energy, you can only change its state. We choose to use fossil fuels because they are still readily available and plentiful, it is an easy resource to use for the production of electricity which in turn is relatively easy to distribute through the Grid, or we transport refined products to the home as coal,oil or gas for heating and cooking and for transport and so on. So far so good.
The issues that appear to be taxing the government and the electorate are their cost and their effect on global warming through the production of CO2, as a result we have a "green" lobby campaigning for lower emissions and a govt and electorate unsure of its energy security, or so it would seem.
Perhaps the issues are not quite as they seem, its true that the cost of these resources are soaring, but that should be seen as positive, if we allow energy costs to take a bigger slice of peoples income, people will do one of two things, they will either turn down their thermostats, reducing their consumption and/or insulate their homes to make them more comfortable and more energy efficient or not in which case they will economise elsewhere, but in either event they have to reduce consumption. All positive stuff, they reduce their energy costs, CO2 emmisions and fossil fuel consumption.
If travel becomes exorbitant for the same reason, so what, this will reduce demand on the transport infrastructure, cars are going to become more expensive anyway because of the energy consumed in their manufacture another positive as we may see fewer cars on the road and/or better use, car sharing etc.
As for Wind turbines and Nuclear power, we already have a Nuclear power industry, they are currently making fatuous remarks about this capacity becoming unavailable in 10 years time, believe me, if they want to extend the life of these reactors that can do it, they are simply using the current economic situation to force the Govts hand and declare new capacity.
Wind Turbines on the other hand offer a fascinating way of adding to the overall productive capacity of energy in the UK, they offer the tantalising prospect of generating Hydrogen Gas through electrolysis using the same control gear that supplies the Grid. They hold out the prospect of motorists filling up their tanks at these land based Turbines. Livermore university have developed a fuel tank that will hold Ortho and Para Liquid Hydrogen without embrittlement, once this has been approved we will see hydrogen powered vehicles within 18 months. The americans are already investigating production of Hydrogen from wind turbine generators.
As for north Sea Oil, as soon as the next incoming govt. reduce the tax on these oil feilds you will suddenly find that the oil companies have developed specialised tehniques for recovering previously unavailable oil deemed "uneconomic" to recover and it will por out.
In 1976 it was reported that the UK has recoverable coal reserves for the next 500 years at todays consumption and that was at a time when we still had energy hungry industries like shipbuilding, motor car manufacture, heavy engineering, boilermakers, machine tool manufacture, armoured vehicles etc etc..
The point I am making is LET THE MARKET DECIDE it always wins in the end anyway. As for the 100 billion investment by Brown, he wont be in power to see this in, he's probably looking for a job in the wind turbine industry when his career as a politician is over.
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It looks scary only after seasonal adjustments. Non-adjusted data is awright. AT least above December and January. I don't believe in seasonality during recession as the hype is gone and the slide is governed by anything but weather and sunshine. Another implication of SA process is that July SA data will bounce back.
home purchase loans actual (non-adjusted)
Dec 2007 27,631
Jan 2008 28,851
Feb 2008 38,527
Mar 2008 38,284
Apr 2008 41,879
May 2008 32,087
I assume that the reduction is linked to availability of ready cash from the mortgage lenders, alla' the credit crunch, but is there a way of measuring the underlying demand, its just that i see no shortage of enquiries from prospective buyers in my area of the market, the lenders have simplly regulated the cash flow by restrictive terms ie; LTVs etc. or in the case of Beacon Home Loans simply pulled the plug, aven after DIP approvals.
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Has not our own Herr Brown declared to us ... ""Arbeit macht frei"
Ach Zo! und Darlink too mein knakerworst
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http://www.telegraph.co.uk/money/main.jhtm...bcnhouse124.xml
House prices are set to lose a quarter or more of their value, experts have warned after a "shocking" fall in property market activity.
The number of mortgages approved by Britain's biggest banks fell last month to the lowest level since records began 11 years ago. Approvals dropped to just under 28,000 in May - a 20 per cent fall in the past month, and a 56.1 per cent fall since May last year, according to figures from the British Bankers' Association.
"The value of your investments can go down as well as up", i was always told that there are only three things to know about borrowing money to buy a house, they were, 1. pay your mortgage off. 2. pay your mortgage off. 3. pay your mortage off.
how many people in wonderland are now regretting borrowing money on the back of rising house prices to buy their new "fitted kitchen", which probably came with sports suspension and does about 20 to the gallon!!
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Here's something really scary:
Thats a very sad picture-in every respect-I suppose it does put things in perspective though, while we are discussing our job prospects and some people are gloating over the current turmoil, here we see the result-quite terrifying really and for completely different reasons. I dont suppose this little boys family are worried about the cost of a basket of groceries. Maybe waht will come out of all of this mess is the reality that perhaps we might want to build a more equable system, but i dont think free market economics will deliver it somehow.
so whats your idea?
Labour Downfall Images
in House prices and the economy
Posted
Is this a picture of the Cabinets gloryhole