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Saving For a Space Ship

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Posts posted by Saving For a Space Ship

  1.  The Problem With Ponzis…

    by Kuppy • Dec 26, 2021 • 54 Comments

     The stock market’s whole Ponzi Sector is melting down – just look at the ARK Innovation ETF, a well-curated basket of the largest listed Ponzi Schemes.

    https://wolfstreet.com/2021/12/26/the-problem-with-ponzis/

  2. 15 hours ago, Peter Hun said:

     

    With competition like the Ioniq 5, the world's best EV from the world  number 3 legacy car maker,

    IMO its too early to tell, especially after this disaster ..

    Kona Electric battery recall keeps troubling Hyundai

    https://www.electrive.com/2021/04/07/kona-ev-owners-find-hyundai-mishandling-recall/

    Quote

    The Kona Electric uses the same batteries as GM’s Chevrolet Bolt, for which there was also a recall. GM had begun swapping the batteries that October, while Hyundai stuck with the software update as a final solution.

    That was until the company had to give in this February when Korean media reported Hyundai was replacing the entire batteries of all 77,000 Kona Electric vehicles worldwide.

    These account for nearly 70% of the 111,000 units sold over the past three years in Hyundai’s major markets of Europe, the US and South Korea. A few days later, on 25 February, the manufacturer extended the recall to include not only the Kona Electric but also the Ioniq Electric and some Elec City e-bus units at the cost of $900 million following fires in 15 Kona EVs.

    Nov ev sales figures. I wonder how the poor crash test safety results will affect zoe sales? 

    Tesla Model 3 Is Best-Selling EV & #12 Overall Car in Europe in November 2021

    https://www.tesmanian.com/blogs/tesmanian-blog/tesla-model-3-1-best-selling-bev-12-best-selling-car-in-europe-in-november-2021

     

    Plans in England for car chargers in all commercial car parks quietly rolled back

    https://www.theguardian.com/environment/2021/dec/27/plans-in-england-for-car-chargers-in-all-commercial-car-parks-quietly-rolled-back

  3. EVERGRANDE UNFINISHED APARTMENTS TO BE SEIZED BY CHINESE AUTHORITIES.

    All Assets Could Now Be Lost

    https://www.youtube.com/watch?v=s05oHBKqrFA

    Quote

    The CHINESE AUTHORITIES Released 3 Statements on Christmas Day that are BAD NEWS for EVERGRANDE and the Other Chinese Property Developers.

    The main focus for the Authorities is the DELIVERY of UNFINISHED APARTMENTS and this could now mean that ownership and control of these assets are seized by China.

    Over the last few weeks Evergrande has LOST OWNERSHIP of 10 PLOTS OF LAND that were SEIZED by the Chinese Authorities.

    This action follows on from the SEIZURE of the $1.8BN Evergrande Soccer Stadium in November. If the Evergrande's remaining assets are seized then the company will be worthless and we could be looking at a $300 BILLION BLACK HOLE in the Global Economy.

    This also has massive implications for the whole sector which owes TRILLIONS in debt.

     

  4.  

    The National Association of Realtors Is Sorry About All the Discrimination  

    https://www.bloomberg.com/news/features/2021-12-21/real-estate-agents-want-to-fix-housing-discrimination-but-keep-their-commission?utm_content=businessweek&utm_campaign=socialflow-organic&cmpid=socialflow-twitter-businessweek&utm_source=twitter&utm_medium=social

    Quote

    The NAR, America’s largest trade group, issued a formal apology for decades of racist policy that excluded non-White people from owning homes.

    Real estate agents helped create today’s deeply segregated communities. In the 1930s they provided the raw neighborhood intelligence, using starkly racist language about “negro-blighted” districts and the “infiltration of undesirable racial elements,” that aided in the creation of the infamous redlining maps denying federally backed loans to people of color. They came up with the idea of loading property deeds with restrictive covenants that kept Black people out of the most desirable neighborhoods. The NAR’s predecessor organization opposed the Fair Housing Act of 1968, which barred discrimination in home sales. In case that all sounds like ancient history, multiple instances of members airing racist views on social media in 2020 led the group to adopt a formal code barring hate speech.

     

    “Many may not realize just how far-reaching this systemic housing discrimination was, particularly for African Americans,”

     

  5.  End of Easy Money: Global Tightening in Full Swing, While the Fed Promises to Wake Up in Time Next Year by Wolf Richter • Dec 22, 2021 • 3 Comments  

    Central banks jacked up rates to catch up with run-away inflation, but most fell further behind; only Russia caught up. The Fed didn’t even try.

      https://wolfstreet.com/2021/12/22/end-of-easy-money-global-tightening-in-full-swing-fed-promises-to-wake-up-in-time/

  6. Five million families in England face big social housing rent hike, warns thinktank

    https://www.theguardian.com/business/2021/dec/22/five-million-families-in-england-face-big-social-housing-rent-hike-warns-thinktank

    Quote

    The Resolution Foundation thinktank said 4.75 million families would see rent on their local authority or housing association home rise by up to 4.1%, adding to the pressure on living costs by an average £202 extra a year.

     

    It warned the increase would coincide with significant tax rises planned by the government to come in from April and a further jump in household utility bills when Ofgem’s consumer energy price cap is raised. The Bank of England also forecasts inflation will peak at about 6% the same month, the highest level since 1992.

     

  7. Eviction protections extended in Wales

     The Welsh government has extended its measures to protect renters from evictions, leaving England the only UK country to have no protections in place amid surging COVID-19 cases.

      https://www.insidehousing.co.uk/news/news/eviction-protections-extended-in-wales-73739

    Quote

    The protections, which were due to end on 31 December, mean that the eviction notice period for renters in Wales will remain at six months until 24 March 2022, except in cases of anti-social behaviour or domestic violence.

    It means England is the only UK country without extra eviction protections in place; Scotland has a six-month notice period in place until 31 March, while Northern Ireland has a 12-week notice period in place until 4 May.

    When 2021 began, tenants in England were still protected by a ban on ‘bailiff-enforced’ evictions, meaning bailiffs were not allowed to enter homes to enforce evictions that had been granted by the court.

    When the bailiff-enforced eviction ban came to an end in May this year, renters in England were given longer notice periods of up to four months, depending on the type of eviction.

    However, notice periods in England returned to pre-pandemic rules at the start of October.

     

    Julie James, the Welsh climate change minister, said: “The purpose of this alteration is to ensure that, at a time when there remains a serious threat to public health, both as a result of COVID-19 case rates remaining high overall and concern regarding the emergence of the new Omicron variant, landlords will continue to be required to provide an increased notice period to tenants before they can issue proceedings for possession.”

    She added that the delay to evictions will mean that fewer people will be made homeless at a time when it might “exacerbate the spread of the virus” and when local authorities are less able to respond to these situations.

     

    “Those renting their homes will benefit from increased security and reduced anxiety, and individuals at risk of eviction will be provided with increased time to seek support to resolve any problems, including applying to the Tenancy Hardship Grant scheme,” Ms James said.

    A spokesperson for the Department for Levelling up, Housing and Communities said: “Our action throughout the pandemic helped keep people in their homes and the vast majority of tenants are up to date with their rent.

    “We are also helping the most vulnerable renters in arrears through a £65 million support package.”

     

  8. 43 minutes ago, Si1 said:

    Didn't Russia get similarly messed up when it received capitalist shock-therapy from Clinton etc after the collapse of the USSR? Basically a free market system needs to be learned over many generations otherwise many many people will get scammed, imho.

    This one?

    MMM: The biggest fraud in the history of modern Russia https://www.rbth.com/history/332261-mmm-fraud-mavrodi

    though I imagine what the oligarchs did was a bigger scam, but vi's like the city of London were in on it

    the chinese ant farming scam always gets me 

    Quote

    Scams such as this usually don’t last more than a year. That the ant-farming double-dealing lived on for eight years has led to allegations that government officials were bribed to look the other way. The farmers who lost their savings have been shoved aside by government bureaucrats.

    Reporters have been told to drop the story and lawyers discouraged from representing the angry and depressed investors. Several impoverished ant farmers have committed suicide including one man who set himself on fire in Beijing’s Tiananmen Square. https://soapboxie.com/economy/Chinese-Ant-Farming-Scam

    https://soapboxie.com/economy/Chinese-Ant-Farming-Scam

  9. Fascinating, but very sad doc on Radio 4 yesterday

    https://www.bbc.co.uk/programmes/m0012ftf

    Quote

    Throughout 1996, Albanians sold their houses and their livestock to buy into pyramid schemes that were doomed to fail. By the year’s end, this new kind of financial product had swallowed up almost 50 per cent of the country’s annual income, and touched nearly every adult’s life.

    How did an entire country fall victim to scammers? Gavin Haynes explores the psychology of one of history’s great mass delusions, 25 years on.

    He heads to Albania to hear how, in something like a fable, Europe’s most repressive Communist state was suddenly turned loose into a capitalist Wild West it was ill-prepared for. And how the knock-on effects of financial meltdown pushed the country to the brink of total anarchy.

    At the heart of his journey is an ongoing mystery - what became of the life’s savings of so many ordinary people?

     

  10. One More Developer Seeks to Extend Debt Due: Evergrande Update  

    https://news.bloomberglaw.com/bankruptcy-law/asset-disposals-halted-shimao-in-focus-evergrande-update

    Another Chinese real-estate company is seeking a debt extension to avoid a payment failure as shockwaves from a credit crunch continue to reverberate through the country’s property sector.

    Guangzhou R&F Properties Co. is asking holders of a $725 million dollar note maturing Jan. 13 to extend the due date by six months, and is offering to buy back some of the debt at a discount.

    If the proposals aren’t backed, the company said it might not be able to fully pay off the note. The news comes as Shimao Group Holdings Ltd.’s dollar bonds sank to all-time lows despite assurances

     

    Chinese real estate giants Evergrande and Kaisa continue unloading assets to cover debt

    https://www.youtube.com/watch?v=9Nmv8fwm220

  11. Second-hand car prices jump 27% in a year

     Second-hand car prices increased by 3.1% in November, and have jumped by over 27% in the last year.  Indeed, prices of used cars have surged by 31.3% since April, when last winter’s lockdown began to ease, as this chart shows:

    https://www.theguardian.com/business/live/2021/dec/15/uk-inflation-soars-cost-of-living-squeeze-energy-housing-clothing-footwear-federal-reserve-business-live

  12. AMAZON finally culling the Chinese sellers with fake reviews and other frauds , some worth 100s of $billions 

    China has no solution yet when its leading e-commerce businesses keep getting shut down by Amazon

    https://www.youtube.com/watch?v=2furktgOT_I

     
    63% of Amazon sellers are Chinese. Some have revenues of $1bn+. Amazon is now removing thousands of them for breaching rules such as fake reviews. This video gives a insightful view on what the sellers get up to. Many have evaded huge sums of VAT too
  13. Quote

    UK lenders have agreed to halt repossessions over the festive period. Finance lenders  Members of UK Finance and the Building Societies Association (BSA) have agreed on a moratorium on repossessions from the 13th of December.  The moratorium will last through to the 4th of January 2022.  

     

    The aim is to allow tenants and residential homeowners peace of mind over the festive period.  Lenders including Barclays, The Co-operative, Coventry Building Society, Halifax, HSBC, Leeds Building Society, Legal & General Home Finance, Lloyds Bank, Nationwide, Skipton Building Society and Yorkshire Building Society have all agreed to the temporary ban.

     

    https://www.commercialtrust.co.uk/news/eviction-ban-agreed-by-lenders/

    Happy Evict Less !

  14. Purplebricks “faces £30m payout over tenant deposits”  

    https://www.lettingagenttoday.co.uk/breaking-news/2021/12/purplebricks-faces-30m-payout-over-tenant-deposits  

    https://www.telegraph.co.uk/property/buy-to-let/purplebricks-faces-30m-payout-tenancy-rules/

    Quote

    The Daily Telegraph is reporting that Purplebricks could face a bill of as much as £30m “after it put thousands of landlords at risk of being fined.” 

    The newspaper says: “It is understood that since the online estate agent was founded in 2012, it has failed to properly serve legally required documents to tenants explaining their deposits have been put into a national protection scheme.

    “These documents, known as prescribed information, must be given to tenants within 30 days of the deposit being paid. Failure to do this means the tenant can claim back up to three times the value of the money.

    “Tenants have a six-year limitation period in which to make a claim against either the agent or their landlord. A source with knowledge of the business said Purplebricks' historic liabilities could be as high as £30m, assuming everyone eligible to make a claim did so....

     

  15. as I posted on th hpc China thread it's food as well as shelter thats in a massive crisis

    China’s vegetable prices surge 30.6% in November as food costs soar

    PUBLISHED WED, DEC 8 20219:47 PM EST

    https://www.cnbc.com/2021/12/09/chinas-vegetable-prices-surge-30point6percent-in-november-as-food-costs-soar.html

    Evergrande defaults on $1.2B in foreign bonds,

    Fitch says, as China intervenes in debt-ridden real estate sector

    https://www.cbsnews.com/news/evergrande-stock-china-default-bonds-fitch-chinese-market-intervention/

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