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Newsnight Is Very Doom-Laden Tonight

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They just had that Magnus bloke on from UBS saying that we could be on the verge of a depression, banks going bust, bank runs, deposits withdrawn, mass unemployment, ATMs emptying - he is quite a reserved bloke normally.

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Surprise surprise the BBC's economics "expert" Paul Mason is unable to identify a genuine private sector worker, he just introduced a teacher and an estate agent (essentially a trader of government privileges) as the backbone of Greece's private economy.

No wonder Greece has gone down the toilet, coming to country near you, soon.

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This is classic stuff, right from Jeremy's brilliant sardonic intro.

Onto UBS guy and Mason talking likely Greek default carnage, Oborne offending everyone, the Euro-stooge walking out, and now more Greek tragedy.

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Much more entertaining than Question Time.

It's absolute chaos. No confidence. No answers. We're all doomed and now we are watching an absolute buffoon called Ed.

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This is classic stuff, right from Jeremy's brilliant sardonic intro.

Onto UBS guy and Mason talking likely Greek default carnage, Oborne offending everyone, the Euro-stooge walking out, and now more Greek tragedy.

I thought it was brilliant. But Peter Oborne has lost his invite to this year's newsnight party, naughty boy.

I'm glad the stooge walked out. Waste of space and money anyway.

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i thought we knew all this.

to be honest feels like 2007 again.

i dont know anyone who is not up against it at the moment.

To be solved by the magic of the printing press.

(Precious metals currently looking affordable.)

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It is all looking very serious. Huge losses on the banks books, and none of the solvent taxpayers want to pony up, with the exception of George Osborne on behalf if the UK. Will his efforts be enough to keep the bankers noses in the bonus trough?

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On BBC 2 just now Ed seemed to be morphing into Tony, hand gestures, smile and all. The wonders of science.

Mind you the science will be applied no differently at the conference next week.

Edited by billybong

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It is all looking very serious. Huge losses on the banks books, and none of the solvent taxpayers want to pony up, with the exception of George Osborne on behalf if the UK. Will his efforts be enough to keep the bankers noses in the bonus trough?

Seriously now.....................and i am no QE fan....................but NO bank or B/S will fail in the UK, while they can and will print, just will not happen, confidence would evaporate, and that is all FIAT is based on confidence...............They will print till banks are solvent, end off, why would they do anything else?

AND...............If you are a saver, you should thank your lucky stars they will print, otherwise, you could lose the lot, whereas printing only cost inflation bites you in the @rse....

Edited by Panda

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Seriously now.....................and i am no QE fan....................but NO bank or B/S will fail in the UK, while they can and will print, just will not happen, confidence would evaporate, and that is all FIAT is based on confidence...............They will print till banks are solvent, end off, why would they do anything else?

AND...............If you are a saver, you should thank your lucky stars they will print, otherwise, you could lose the lot, whereas printing only cost inflation bites you in the @rse....

Only because banks made way too high risky loans that no saver in their right mind would have endorsed.

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Only because banks made way too high risky loans that no saver in their right mind would have endorsed.

Correct...............but as a saver, Merv is your saviour..........................without him it would be "nite"

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. . . we could be on the verge of a depression, banks going bust, bank runs, deposits withdrawn, mass unemployment, ATMs emptying . . .

So what's new, apart from the fact that reality has finally filtered through the Westminster bubble.

'On the verge of a depression'. Too funny. Why can't we just carry on calling it a slow recovery? Or a, 'recovery on the verge of slowing'.

What's the matter with the media these days. :lol:

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So what's new, apart from the fact that reality has finally filtered through the Westminster bubble.

'On the verge of a depression'. Too funny. Why can't we just carry on calling it a slow recovery? Or a, 'recovery on the verge of slowing'.

What's the matter with the media these days. :lol:

They knew no recovery was going to all of a sudden show "more debt" growth................The winners are sitting hoping Merv prints,the losers, well, we are up tonite scripting posts on HPC?

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i thought we knew all this.

to be honest feels like 2007 again.

i dont know anyone who is not up against it at the moment.

The service economy model trumpeted in the west created trade imbalances exacerbated by globalisation, which created a debt in the west and a surplus of cash overseas. Lacking a safe place to invest, the surplus cash moved into the western stock markets until the 2001 bust, then into the bond market lowering western interest rates. The credit bubble grew and inflated the price of the only thing that could not be imported - houses. Inflated home equity encouraged more spending on foreign goods and more cash surpluses overseas. The problem has not gone away, at the heart of it is an economic model that does not work, we need to build and export real tangible products that we can put on a ship and sell to get out of this, ether that or war.

In a book I read about the 1929 bust, it talked about how the crises never really went away, a stock market crisis became an economic crisis, which in turn became a protectionist trade crisis, this eventually became a political crisis, which led to extremists rising to power causing a geo political crisis that led to war.

The law of conservation of energy is a law of physics. It states that the total amount of energy in an isolated system remains constant over time (is said to be conserved over time). A consequence of this law is that energy can neither be created nor be destroyed: it can be transformed from one form to another or transferred from one place to another. The only thing that can happen to energy in an isolated system is that it can change form: for instance chemical energy can become kinetic energy; energy can enter or leave a closed system.

Edited by enrieb

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The law of conservation of energy is a law of physics. It states that the total amount of energy in an isolated system remains constant over time (is said to be conserved over time). A consequence of this law is that energy can neither be created nor be destroyed: it can be transformed from one form to another or transferred from one place to another. The only thing that can happen to energy in an isolated system is that it can change form: for instance chemical energy can become kinetic energy; energy can enter or leave a closed system.

Yep, i studied Mech Eng, i have a First in it, did the PhD, i loved Thermo, energy, systems, loopsed loops etc...........But humans are not so predictable, money is not energy, but i love your sinergy, i am pissed...............................

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On BBC 2 just now Ed seemed to be morphing into Tony, hand gestures, smile and all. The wonders of science.

AND...............If you are a saver, you should thank your lucky stars they will print, otherwise, you could lose the lot

You would *think* so wouldn't you? ;)

gold-sovereigns-various-420.jpg

Correct...............but as a saver, Merv is your saviour..........................without him it would be "nite"

Could still happen.

WheelbarrowBen.JPG

If money printing was a solution there wouldn't be an indebted country in the world and Zimbabwe would be an economic powerhouse.

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So what's new, apart from the fact that reality has finally filtered through the Westminster bubble.

'On the verge of a depression'. Too funny. Why can't we just carry on calling it a slow recovery? Or a, 'recovery on the verge of slowing'.

What's the matter with the media these days. :lol:

This is the trick I think the coalition has missed. They could have started their term with 'look at near depression the last lot left us with' then they could have owned any improvement but as it is the Great British Public will assume they have turned a problem into a crisis. Unless, of course, they pull the old 'the depression which started in Greece....' line.

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The law of conservation of energy is a law of physics. It states that the total amount of energy in an isolated system remains constant over time (is said to be conserved over time). A consequence of this law is that energy can neither be created nor be destroyed: it can be transformed from one form to another or transferred from one place to another. The only thing that can happen to energy in an isolated system is that it can change form: for instance chemical energy can become kinetic energy; energy can enter or leave a closed system.

Energy flow as a basis for economics is quite interesting; more or less, you get a relationship of

production = net energy available * efficiency

(Equals should be equivalence)

The efficiency factor is related to exactly what you are producing; for many processes market forces will work to improve this, but also such things as quality of infrastructure. Net energy is easier to increase (or import).

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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