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RentingForever

I've seen the future...and it's full of bankers!

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Hang on, I'm confused. He's been telling us for the last six months that if we voted for Brexit the economy would collapse and all the bankers would leave.

If I didn't know better I would think he just talks nothing but sh1t.

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42 minutes ago, Beggar Thy Children said:

Hang on, I'm confused. He's been telling us for the last six months that if we voted for Brexit the economy would collapse and all the bankers would leave.

If I didn't know better I would think he just talks nothing but sh1t.

That's post of the day.

Why be clever when you can just be accurate!

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In the (not too) distant future there will be one person left in the UK making stuff with his own hands. He'll have a million year mortgage and several thousand life insurance policies - one for every time he's brought back from the dead, just so he can keep up those monthly payments on 0.0000000000000001% rates.

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1 hour ago, Beggar Thy Children said:

Hang on, I'm confused. He's been telling us for the last six months that if we voted for Brexit the economy would collapse and all the bankers would leave.

If I didn't know better I would think he just talks nothing but sh1t.

Bang on there.

Lying scheming xxxx.

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4 minutes ago, Blod said:

Otherwise known as Goldman Sachs. 

It's been said there's two things that would survive a nuclear holocaust. 

Cockroaches, and Goldman Sachs.

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I have been thinking about this a lot lately, and I am starting to feel like a conspiracy nut for doing so.

But I cannot help feeling there are forces out there, not only the banks, that have put so many people in such high debt when there really was no need to with better social engineerin and moral government. These people now have a nice income stream for life for doing F **k All for life, even after screwing up 2007/08, they make top fligh footballers incomes look like they are one of Mike Ashleys dogsbodies.

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I think they will try and keep down as long as possible....linked into wealth created by increasing value of assets, property and the stock market, but is this real and solid, based on strength and productivity or speculation, smoke and mirrors that could change quickly......linked in with past QE which has put pressure on the the pound that pushes inflation so imports become more expensive, investment stagnation, withdrawal and uncertaincy .... wage inflation or lack of it will be key......the winners win more, the losers lose more......waiting and seeing, the tipping point, no action better than the wrong action it seems.;)

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1 hour ago, wotsthat said:

I have been thinking about this a lot lately, and I am starting to feel like a conspiracy nut for doing so.

But I cannot help feeling there are forces out there, not only the banks, that have put so many people in such high debt when there really was no need to with better social engineerin and moral government. These people now have a nice income stream for life for doing F **k All for life, even after screwing up 2007/08, they make top fligh footballers incomes look like they are one of Mike Ashleys dogsbodies.

I don't think it's particularly tinfoil-hatted to think this. It's out in the open. Financialisation of everything into income streams is everywhere - PFI, student loans, car financiong, shared ownership schemes,... The number of things the average person pays a monthly fee for nowadays is huge compared to a couple of decades ago.

Edited by RentingForever

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6 minutes ago, RentingForever said:

I don't think it's particularly tinfoil-hatted to think this. It's out in the open. Financialisation of everything into income streams is everywhere - PFI, student loans, car financiong, shared ownership schemes,... The number of things the average person pays a monthly fee for nowadays is huge compared to a couple of decades ago.

I wouldn't call it a conspiracy though. Just what you get with greed, short-termism and impatience and people thinking up ways to exploit it, with others following suit.

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1 hour ago, wotsthat said:

with better social engineerin and moral government

Or how about ****** off and leave me alone, you controlling *****.

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11 hours ago, RentingForever said:

UK banking sector could double in size to 20 times GDP post-Brexit, according to Carney:

http://www.bbc.co.uk/news/business-40813587

Gawd help us all.

 

Youre reading it wrong.

Carney is a buffon blowing bubbles.

'He said: "We have a financial system that is [now] ten times the size of this economy… It brings many strengths, it brings a million jobs, it pays 11% of tax revenue, it is the biggest export industry by some token… all good things.

"But it's risky."

"We have a view… that post-Brexit the level of regulation will be at least as high as it currently is and that's a level that in many cases substantially exceeds international norms.

"The problem you have is that the same issues re-emerge under different labels… and the progress that's been made… is gradually chipped away."'

10x economy Im not sure about. Does he mean assets 10x larger than the economy.

What he's mangling is that the UK financial sector will be regulated much harder than the intentional norm.

There will be very few bankers in the future. Regualtion and increased capital requirement will destroy a lot of the wholesale jobs.

Tehcnology will finish the rest off.

The best future for finance inthe UK will be a large, wholesale financial transaction centre, skimming 0.01% for the transaction cost.

There'll be few jobs and small profits.

Hopefully there'll be little risk exposure.

 

 

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1 hour ago, wotsthat said:

I have been thinking about this a lot lately, and I am starting to feel like a conspiracy nut for doing so.

But I cannot help feeling there are forces out there, not only the banks, that have put so many people in such high debt when there really was no need to with better social engineerin and moral government. These people now have a nice income stream for life for doing F **k All for life, even after screwing up 2007/08, they make top fligh footballers incomes look like they are one of Mike Ashleys dogsbodies.

Think about how quick sentiment and anger was redirected after the credit crunch. Instead of rounding up on bankers who caused near financial collapse, people were made to hate scrounges and immigrants instead. Everyone and thing else is the problem.. not bankers...

its almost as if it was planned, with Angela Knight waiting in the wings with the excuses.

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7 minutes ago, Social Justice League said:

The best thing the general public can do is stop consuming and live a minimalist lifestyle.

The minute people stop borrowing "money", the games over.

The then the banks can't create worthless "money" out of thin air.....lol.

 

True, but hard for people to change the mindset of how important it is to impress others by, eg that new fancy car, big house (even if not needed), etc, etc. But it is ridiculous how many are willing to put themselves in huge debt just to impress others.

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10 minutes ago, moonriver said:

True, but hard for people to change the mindset of how important it is to impress others by, eg that new fancy car, big house (even if not needed), etc, etc. But it is ridiculous how many are willing to put themselves in huge debt just to impress others.

So true, the fact is the people you've described above actually make up the vast majority of society... where as the frugal, non-materialistic people who live within their means and couldn't care less what others think about their possessions or lifestyle represent a tiny minority of freaks and weirdos (myself being one of them)

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Several good points in this thread, someone mentioned income streams. For a few years this has been the accountants thing, hence the move of software companies to subscription services.

It is interesting to consider where these might end up. As usual with the financial economy it relies on growing, they can not be satisfied with stability. As usual the thing being ignored is the capacity of people to borrow and spend. Hence the need for population increase. Either that or wage growth-LOL.

The current financial way of running everything is just a snake eating its tail. What Carney doesn't specify is how the people are going to increase spending when (if) population stabilises. I know, lower rates and give cheap money to banks.

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1 hour ago, RentingForever said:

I don't think it's particularly tinfoil-hatted to think this. It's out in the open. Financialisation of everything into income streams is everywhere - PFI, student loans, car financiong, shared ownership schemes,... The number of things the average person pays a monthly fee for nowadays is huge compared to a couple of decades ago.

Indeed. They are effectively treating the population in the same way the machines treated humanity in the 'Matrix' - plugging them in and using them on a regular basis for their 'energy' (money, in this case).

In other words, humanity is being farmed.

Edited by Errol

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12 hours ago, Beggar Thy Children said:

Hang on, I'm confused. He's been telling us for the last six months that if we voted for Brexit the economy would collapse and all the bankers would leave.

If I didn't know better I would think he just talks nothing but sh1t.

Sigh

1.  He's saying *if* the UK financial sector survives Brexit it could double

2. The doubling he is talking about here is the level of financial assets relative to UK GDP.  That is not the same as number of banking jobs doubling.  It's perfectly possible for bank assets as a % of GDP to increase, whilst the number of bankers employed reduces.

So yes it might sound like they're contradictory comments, but they're not.

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banking is going to be one of the first industries to be fully automated so we will all be slaves to a giant robot brain. Forget robot cars this is where the AI is going first. 

With there high wages and  lack of any practical skill I expect bankers will become food. Banker flavoured solyent green, ground up and fed to giant brain.

Hopefully it will see us as non threatening and  keep us like pets

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