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Everything posted by zugzwang

  1. Pandemic savings? Wtf? Sunak has borrowed £450bn and the Bank of England given out £250bn in interest free loans since March 2020. The economy, meanwhile, is still smaller today than it was three years ago...
  2. https://asia.nikkei.com/Spotlight/Electric-cars-in-China/Honda-boosts-China-EV-output-with-120-000-car-Wuhan-plant TOKYO -- Honda Motor will build a plant dedicated to electric vehicles in Wuhan, China, the Japanese automaker said Thursday, as it seeks to supply the growing Chinese EV market. The new factory, to be run by Dongfeng Honda Automobile, its joint venture with Chinese partner Dongfeng Motor Group, will cost 4 billion yuan ($629 million) and is expected to begin operation in 2024. Plans call for producing 120,000 vehicles a year at first, including Honda's new e:N brand of EVs debuting this spring. The move will bring Wuhan-based Dongfeng Honda's total output capacity to 840,000 vehicles.
  3. Bullsheet. Covid-19 wasn't over. Another $3 trillion from the Fed is why the market went up.
  4. No, you'd be wrong. Real-terms prices fell for four years nationally after 2008. Even London and the SE experienced a genuine correction, if only for a couple of years. Osborne and Carney rode to the rescue in 2013 with Help to Buy and the original Funding for Lending Scheme (now in its third iteration). 2011/12 was the time to buy and I still regret not doing so.
  5. Silver linings and all that. Never a bad day when a bankster gets shit-canned. 👊
  6. Technically, you're competing with Rishi Sunak. As long as he can keep borrowing £200bn a year to gift those 20-somethings with mortgage deposits while simultaneously holding down the cost of capital for his criminal pals in the City of London the Tory housing ponzi can remain upright. Tick tock.
  7. The UK economy is still smaller than it was in 2019!
  8. They also could have bought it back in 2012 for less than they sold it for in 2003.
  9. The debt trap has been sprung. ☝️ No way back now. 👊
  10. Absolutely. Just look at the national debt! https://www.thisismoney.co.uk/money/markets/article-10369453/1-000-cost-servicing-Britains-national-debt.html?mrn_rm=rta The cost of servicing Britain's ballooning national debt looks set to hit almost £1,000 per person this year as borrowing costs spiral. A dramatic borrowing binge has pushed the debt pile up from just £354billion at the turn of the century to an astonishing £2.3trillion today. And the cost of servicing that debt is soaring as higher borrowing costs and rising inflation add billions to interest payments. Experts at audit, tax and advisory company KPMG believe that debt interest payments will total £64billion in 2021-22 – £955 for every person in the UK. That is up from £39billion last year. It means that Britain is spending more on debt interest payments than on defence, and is a major headache for Chancellor Rishi Sunak as he seeks to repair battered finances and free cash for tax cuts ahead of the next election.
  11. It's Tony Blair. A thousand years from now it will still be Tony Blair.
  12. I was talking more generally. Every American I know does something even if it's *just* smoking a couple of joints at the weekend. Filthy habits they have. What's the matter with them?
  13. I don't defend the CCP blindly. I wouldn't have invited Xi Jinping here. I wouldn't have spent forty years exporting the UK's manufacturing base to the Far East either. Zero Covid has been a spectacular success for those who've stuck with it. As science it's worth defending. In purely numbers terms it's impossible to argue against. Western media types snipe against for purely political reasons. Jacinda Ardern has been called 'Lenin with hair' by US Republicans! Perhaps the Omicron variant will prevail but even then you can use a Zero Covid approach to slow the wave of infection geographically and prevent your healthcare system from being overwhelmed.
  14. 1.5 million Uighurs 'tortured and abused' in concentration camps? I thought it was 5 million? Or is it a complete fabrication like Saddam Hussein's weapons of mass destruction? Why didn't they ask Premier Xi when he was here on a State Visit?
  15. Theres nothing batshit about it. While the West lumbers hopelessly from crisis to crisis - passive, enfeebled, fatalistically resigned - Zero Covid has kept China/NZ/Taiwan safe, healthy and fully employed for nearly two years! NZ reported just 21 instances of domestic transmission yesterday, a mockery of the 3-5,000 per diem quotas predicted by Western media naysayers just two months ago. Too bad, Trumprrr. You haven't just lost, you've been humiliated.
  16. Recreational drug use and America? It's horrifying. They all seem to be crouched in the bushes sucking at a roach clip. Men, women. Old, young. Rich, poor...
  17. +1 They were all shell operations. A bankster scam. An obstacle to genuine price discovery and ultimately a burden on the taxpayer when they all went bust together.
  18. It's the relationship between the variables in the system that makes it Complex i.e. non-linear, out-of-equilibrium. Economics is mostly lawless therefore cannot be axiomatised. Economists ignore this reality and construct non-falsifiable ideological fictions instead because they're easy to manipulate and look like science (Gaussian distributions, linear regressions etc.) But falsifiable models do exist in finance i.e. Black-Scholes. The study of economics should start from this point. Rational, practical and empirically informed. We don't need to question von Neumann's reductive intentions. Methodological reductionism, the separation of the Universe into object + background, is how science has been done since Galileo discovered the principle of relativity. von Neumann architecture is everywhere! The foundation of postwar computing: instructions stored in memory, retrieved and processed one-by-one by a Central Processing Unit.
  19. The last 20 years has given Wall Street huge benefits. Main Street took an almighty shitting. The most likely near-future scenario is an armed insurrection by the Far Right.
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