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Harry Sacks

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Posts posted by Harry Sacks

  1. 3 hours ago, doomed said:

    Absolute nonsense.

    There is no way this is not being done by choice. There are plenty of places in the country a fulltime worker can afford rent, without the generous benefits a family of 4 would get on top.

    When I was thrown to the wolves as an owner-occupier of 20 years, I found it almost impossible to find somewhere. 95% of everything I looked at was through an agent who wanted proof of income, credit check, references, etc. I can see how someone with four kids would look for a two or three bed to make do and keep costs down. However, if the agent was in the slightest doubt they wouldn't return their call.

  2. On 26/12/2019 at 10:29, The Spaniard said:

    So £1,600,000,000,000, about two thirds of the pounds in circulation, has been borrowed into existence at interest from commercial banks by Joe Public for the purchase of somewhere to live, a basic human need.

    The very existence and maintenance of a viable medium of exchange for the UK economy, of an adequate money supply for business and commerce, is based upon keeping the population in fierce competition for 'ownership' of a slave box.

    Is the tail wagging the dog?

    Why don't we, the UK citizenry, the user base of the pound sterling issue, publicly and debt-free, an adequate, persistently circulating money supply with which to run our productive economy?

    There's no profit for the people who pull the strings.

    I'm not sure if there would be any economic growth in the UK in the absence of residential land inflation.

    Mortgages or QE, the inflation is hidden in assets. For the most part, the gains are never fully realised for the vast majority of people, even after they die.

  3. 1 hour ago, crouch said:

    Remainers believe that Brexit is a stupid idea believed by stupid people. They say we will be much worse off over the long term. But they can't demonstrate it and nothing you say will change that. You haven't a clue what the economy will look like in 30 years.

    The problem you have is that, unable to demonstrate that Brexit will make everyone worse off, it down to none economic factors and preferences and that means that there is no way of saying one thing is better than another. 

    https://www.ft.com/content/8da69dbb-75e1-3647-a560-a67a7b9b870a

    https://theconversation.com/economic-forecasting-why-it-matters-and-why-its-so-often-wrong-53829

    https://www.theguardian.com/business/economics-blog/2017/jan/08/economic-forecasts-hardwired-get-things-wrong

    There's certainly truth in that. However, as time has passed, it's pretty clear that Brexit is nothing more than a massive looting exercise by the same "investment class" that were bailed-out ten years ago. The people that have been most affected by the subsequent austerity and wage stagnation seem to be the ones still supporting the idea that they'll be better off outside the EU.

  4. On 09/08/2019 at 18:12, dugsbody said:

    They print money and buy various assets such as corporate bonds and government bonds held by banks. They offer the banks a really good price for these assets. The banks will take it because it is free money. Then the banks will lend more and at cheaper rates, which will drive up existing asset prices. 

    Very glad I have a large GBP denominated mortgage.

    Yes, this is what has happened and will no doubt continue. And, as before, inflation (outside of asset markets) will be negligible. It's a symbiotic relationship between asset markets and CBs. Wealth will continue to concentrate while incomes for the majority stagnate. However, discontent in the lower ranks is still the major risk. Expect more private prisons and policing services.

  5. On 10/08/2019 at 14:15, Mikhail Liebenstein said:

    You could ask the question, "why should a firm like Amazon receive any protection from thieves and looters etc, if they are not contributing to the societal framework on which they have  been free to operate their business model?" 

     

     

    Doesn't that idea go back to the original merchant class wanting the asset protection but not the bill? They create the money and lend it at interest to their appointed government. Win-win.

  6. 13 minutes ago, dougless said:

    A good point dom.  We really shouldn't need to work as hard as many people do.  I suspect its a combination of a backwash of religious ethics from earlier times coupled with 'keeping people busy stops them thinking about more important things'.

    Yes. And with a monetary system that is constantly pulling future value into the present and inflating prices beyond wage growth, it's inevitable.

    But it's so much easier to point the finger at single mums.

     

  7. 3 hours ago, iamnumerate said:

    I would say worse than that TC encourage people to not work - and be unemployable in future.

    Work doing what? Digging holes and filling them in again? I wager over 50% of jobs are utterly pointless with a net external cost to wider society. Most of humanity's problems stem from over production/consumption. Why is there this cultural dogma about constantly working?

     

  8. 11 minutes ago, Killian said:

    That blog makes a lot of sense but energy is not the main reason, it is a global population growth and stress on all resources

    "First, prosperity is already in marked decline in almost all Western economies, typically having peaked between 2000 and 2007. The only significant exception to this pattern is Germany, largely because of the benefits conferred on the Germany economy by the euro system. "

    Not really. it's financial system is decentralised with over 1500 small and NFP banks.rather than an oligopoly. Regulation favors production and not speculation and they make really high quality gear that everyone wants.

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