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The Lockdown Wouldn't Be So Devastating If Our Economy Wasn't So Rigged, Brittle and Exploitive


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"An economy of rackets designed to enrich the few at the expense of the many is brittle because self-serving rackets snuff out competition, accountability and transparency.

What's remarkable about the lockdown isn't the hue and cry about the economic damage--it's the absence of any critical curiosity as to how our economy became so fragile that only the wealthiest contingent can survive a few weeks on savings or rainy-day funds.

A healthy, resilient economy would be able to survive a few weeks of lockdown without a multi-trillion dollar bailout of every racket in the land. A society that wasn't threadbare financially and socially would be able to function and accept individual sacrifices for the common good.

Rather than being organized to serve the common good, our economy and social order is little more than overlapping rackets : rigged "markets" operated by quasi-monopolies to enrich the few at the expense of the many; brittle bureaucracies bound by thousands of pages of mindless "compliance" and exploitive neofeudal structures in which debt-serfs are paid just enough to service their debt but not enough to afford skyrocketing costs for housing, healthcare, higher education, childcare, junk fees and taxes.......

"

The cost of living is aimed at asset stripping people for the benefit of the few.

The other side of this is what exactly are the 0.1% doing to repair the damage. They want to hoard the money, with that you automatically get responsibility which they don't actually want.

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3 hours ago, interestrateripoff said:

https://oftwominds.cloudhostedresources.com/?url=https%3A%2F%2Fwww.oftwominds.com%2Fblogapr20%2Fbrittle-rackets4-20.html

"An economy of rackets designed to enrich the few at the expense of the many is brittle because self-serving rackets snuff out competition, accountability and transparency.

What's remarkable about the lockdown isn't the hue and cry about the economic damage--it's the absence of any critical curiosity as to how our economy became so fragile that only the wealthiest contingent can survive a few weeks on savings or rainy-day funds.

A healthy, resilient economy would be able to survive a few weeks of lockdown without a multi-trillion dollar bailout of every racket in the land. A society that wasn't threadbare financially and socially would be able to function and accept individual sacrifices for the common good.

Rather than being organized to serve the common good, our economy and social order is little more than overlapping rackets : rigged "markets" operated by quasi-monopolies to enrich the few at the expense of the many; brittle bureaucracies bound by thousands of pages of mindless "compliance" and exploitive neofeudal structures in which debt-serfs are paid just enough to service their debt but not enough to afford skyrocketing costs for housing, healthcare, higher education, childcare, junk fees and taxes.......

"

The cost of living is aimed at asset stripping people for the benefit of the few.

The other side of this is what exactly are the 0.1% doing to repair the damage. They want to hoard the money, with that you automatically get responsibility which they don't actually want.

They are doing Brexit.

Their chosen way forward is a further deregulated and global UK. It's the will of the people so let's have no more of your negativity.  

 

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31 minutes ago, Social Justice League said:

The 1% will just self isolate until western capitalism collapses and they can't buy a toilet roll for £1 million.

The collapse will make all western currencies worthless.  A leveling of the playing field if you like............

The corrupt b4stards better be fast runners.

When can I use a pitchfork?

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5 hours ago, interestrateripoff said:

What's remarkable about the lockdown isn't the hue and cry about the economic damage--it's the absence of any critical curiosity as to how our economy became so fragile that only the wealthiest contingent can survive a few weeks on savings or rainy-day funds.

A healthy, resilient economy would be able to survive a few weeks of lockdown without a multi-trillion dollar bailout of every racket in the land. A society that wasn't threadbare financially and socially would be able to function and accept individual sacrifices for the common good.

Has there really been any time in the last 1,000 years when the poorest in society could cheerfully go 2 months with no income, or an entire country could shut down for 2 months without any economic impact effect?

And it seems to me that by and large we ARE functioning and accepting individual sacrifices for the common good, aren't we?  I don't see people rioting and - around my way anyway - people are following all the social distancing rules.

The over-complexity of the global economy has worried me for a long time, as does the inequality in society, but that's a different point to it all being some kind of racket, or suggesting that somehow any economy would be able to simply shrug off the worst pandemic for 100 years?

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2 hours ago, scottbeard said:

Has there really been any time in the last 1,000 years when the poorest in society could cheerfully go 2 months with no income, or an entire country could shut down for 2 months without any economic impact effect?

And it seems to me that by and large we ARE functioning and accepting individual sacrifices for the common good, aren't we?  I don't see people rioting and - around my way anyway - people are following all the social distancing rules.

The over-complexity of the global economy has worried me for a long time, as does the inequality in society, but that's a different point to it all being some kind of racket, or suggesting that somehow any economy would be able to simply shrug off the worst pandemic for 100 years?

Be gone with you with your positive outlook this is HPC - separating issues and reporting only on what you can actually see

Its the

Lizards/boomers/Tories/BOMOD/Trump/TheChinese/5G masts/BigCorporations/Brexiteers/Remainers

whats that ? time for my injection matron ? ?

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There is a case to be made that in the age of the central bankers and their micro managing of the larger economy, political and economic crises will be less often but bigger. The financial crisis, Chinese trade war, brexit, coronavirus.

At least there's a few economists who think along such lines too.

I don't see Mad Max though, or feel any compulsion to own a firearm. I suspect pitch forks might be available from larger Tescos, however.

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5 hours ago, scottbeard said:

Has there really been any time in the last 1,000 years when the poorest in society could cheerfully go 2 months with no income, or an entire country could shut down for 2 months without any economic impact effect?

And it seems to me that by and large we ARE functioning and accepting individual sacrifices for the common good, aren't we?  I don't see people rioting and - around my way anyway - people are following all the social distancing rules.

The over-complexity of the global economy has worried me for a long time, as does the inequality in society, but that's a different point to it all being some kind of racket, or suggesting that somehow any economy would be able to simply shrug off the worst pandemic for 100 years?

Do you not think that the anger will come when the 99% have to start paying for it.

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Any economy in this situation would be in trouble I have friends and relatives in many countries and aside from a few folk most would rather be here in the situation with order benefits, healthcare and furlough if you are lucky.  Many countries have the lockdown but no benefits, hotter, skint and no Netflix/deliveries

Issues I have

  • Savings people seem to live hand to mouth and those with good jobs seem to be almost as bad.  Saving needs to be encouraged however that is bad for the economy as one mans debt is another's asset.
     
  • Companies are encouraged to make that spare cash work leverage up etc etc thats toxic at the moment.  Its been horrible watching tens of thousands of £ leave the door with 0 coming in however I had 2 months cash days at hand. 

    One of my competitors has 11 outlets 2 million equity and 8 million loans and 600k in the bank according to CH,  With my 1 premises I have burned though 50/100K already so I can only assume they are buggered.  From Barry Big balls to toast in a month.
     
  • After this we will have to have to ensure that we have a company that can make PPE (with loads in storage) and companies that can make all forms of ICU equipment in the UK or NATO/equivalent which will need to have a pandemic force.  Whats the point of having air craft carriers to protect us from China/Russia et al when all they need to do is edit a virus and cut off supplies.

 

 

 

Edited by Fromage Frais
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12 hours ago, scottbeard said:

Has there really been any time in the last 1,000 years when the poorest in society could cheerfully go 2 months with no income, or an entire country could shut down for 2 months without any economic impact effect?

And it seems to me that by and large we ARE functioning and accepting individual sacrifices for the common good, aren't we?  I don't see people rioting and - around my way anyway - people are following all the social distancing rules.

The over-complexity of the global economy has worried me for a long time, as does the inequality in society, but that's a different point to it all being some kind of racket, or suggesting that somehow any economy would be able to simply shrug off the worst pandemic for 100 years?

I would go any further than, I would guess that normally only the rich can go 2 months without income without problems.

Most people don't have masses of cash lying around, they put it into paying off mortgages, investment in pensions etc.

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50 minutes ago, iamnumerate said:

I would go any further than, I would guess that normally only the rich can go 2 months without income without problems.

Most people don't have masses of cash lying around, they put it into paying off mortgages, investment in pensions etc.

Honestly this is a revelation to me that people cannot survive for just a few weeks without income what the heck do they do with their money ? 

My mother has not worked for 25 years stopped working at 50 does not even have a pension just savings and a basic state pension, i have not worked commercially for years ok i live rent free, but then i have spent 0 savings and make enough from basic money management and trading to see me by.  People really must be living above their means to buy "stuff". 

 

 

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5 minutes ago, longgone said:

Honestly this is a revelation to me that people cannot survive for just a few weeks without income what the heck do they do with their money ? 

My mother has not worked for 25 years stopped working at 50 does not even have a pension just savings and a basic state pension, i have not worked commercially for years ok i live rent free, but then i have spent 0 savings and make enough from basic money management and trading to see me by.  People really must be living above their means to buy "stuff". 

 

 

Pay off the mortgage or put it into a pension.  Actually it makes sense to do both because if you have e.g. £25K and put it into a pension/pay off mortgage and then lose your job you can get benefits.  If you have £25k in the bank you can't.

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  • 417 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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