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VillagePlank last won the day on September 29 2013

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About VillagePlank

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    Occluded Brain

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    Rochester, Kent

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  1. My god. OMG. Really. You people don't care a gnat's whisker about any one else. You argue for unionisation for the workers, you argue for restriction of the state re terrorism, i.e. Racism. You argue for all things apart from the betterment of yourselves. You are all shameful. i have no answers, but, at least I think about it. Trotting out the same old rubbish time after time after time. Yes, you have confirmation bias (look it up, please) but hating a group of people is, as I understand it, with the wishes of the people, against the law. now please review the extent of hate against the tories. i don't like them either, and clearly, netweather doesn't either. you lot are hateful, and not willing to compromise on any issue. I, personally, have spent ages on trying to put a point of view across. Who cares? you haven't scored your point on to the next one. i give up.
  2. That, of course, goes some way to explain what looks on the face of it, Cameron/Osbourne promise to the electorate to hold a referendum. However, I think that gives them too much credit; I don't think they are sufficiently self-reflective to understand the inherent fundamental flaws in today's political and economic systems. Brexit and the election of Trump should have woken some up, but, it seems to me, they are all still blissfully unaware. Why would they care, anyway? Impending economic disasters rarely affect the rich and wealthy, since it's the poor and struggling that always end up footing the bill. The construction of the US Constitution explicitly replaced the tyranny of the minority (the King of England) with the tyranny of majority (the electorate) as the enemy of the state. The majority is you and I, our families, our neighbours, our friends, our coworkers. Other western democracies quickly followed; when we trot out 'all men are created equal' what this means is that 'all men's rights are equal' That is to say, that we have the right to own property, and not even a democracy can rise up and elect a government to take away those inalienable rights. The rich remain rich, the poor remain poor.
  3. There's no way to tell about inflation. My own view is that GBP is still overpriced. Do we really think that GBP is some multiple of USD and/or EUR? The real worry is the cable-rate (GBP/USD) as, for years, now, USD has been worthless, and the only reason it has any impact at all, is because it's a reference currency. You know the routine: if the global economy is doing well, buy USD, if we need to run and hide, buy JPY. This is not rational in and of itself (that's to say the fundamentals do not support this sort of trade), it is only rational because this is what everyone else is doing (traditional), and thus makes sense if you wish to preserve an assets value. As this government continues to screw up the negotiations, then we might well see GBP over-correct. Inflation has been a pain for a number of years, now. It's been artificially low given relative oil prices and their impact on just about everything one way or the other. The GBP correction initiated by the complete shock of the markets to Brexit (who bet big the wrong way) exaggerated the effect of supply chain inflation. This gives us two problems to worry about: GBP still being overpriced, and the prospects of gains in oil - both with upward inflationary pressure. Of course, the upside, is that we can inflate our way out of our ever growing debt pile stench as the real value of debt falls as inflation rises. A minor, perhaps, glimmer of a long term future, but, of course, the real-money (think many multiples of a country's GDP) in hedge-funds is yet to dump GBP so we are staring parity in the face, should they get spooked; you can expect large increases in inflation and interest rates increases to control inflation should this occur; this is where we won't be arguing about a basis point here or a basis point there, we will be looking on in sheer horror as large numbers of people who borrowed on interest rate only mortgages get turfed out of their homes because the price of food has gone through the roof, and the cost of their mortgage is unsustainable. For sure, Brexit initiated all these, but it isn't to blame - this was all coming anyway, at least since 2008; so, for instance, my view is that we'd be facing this problem regardless of Brexit. As others have noted this is a consequence of 30 years (or more) of poor governance from all sides of the political spectrum. I mean can you believe that it was a British politician that proudly stood in front of bankers and proclaimed that he had 'banished boom and bust' For goodness sake, you really couldn't make it up. The era of a government replacing welfare with cheap credit is over. This is the fundamental truth that we must all face; ever present is the downward pressure of welfare payments and in lieu (read: so people can eat, and live generally productive lives) consumers have borrowed money in just about every way possible. The party's over. The decline and retreat of western liberalism has begun.
  4. http://www.bankofengland.co.uk/about/Documents/ieo/evaluation1115.pdf
  5. I think the answer to that is that Cameron wasn't thinking.
  6. Yes, that's true: however, looking at the charts above, they are in respect of inflation, and in any respect, wage growth has, on average, been declining since 2015. Imported inflation due to a correction in GBP's value has increased imported inflation, but there's nothing to suggest that temporary imported inflation is here to stay as endemic systemic inflation. You also have to remember that inflation before 2015 was artificially low due to low oil prices. It's also interesting to note that the basket of goods that goes into computing CPI changed about the same time the wage growth started falling https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=12&cad=rja&uact=8&ved=0ahUKEwj1uP2J0tvVAhWBIcAKHV1WDooQFghaMAs&url=https%3A%2F%2Fwww.ons.gov.uk%2Fons%2Fguide-method%2Fuser-guidance%2Fprices%2Fcpi-and-rpi%2Fcpi-and-rpi-basket-of-goods-and-services%2Fcpi-2015-basket-of-goods.pdf&usg=AFQjCNGAwdPe-Smvl35Dz48UvB6yrta-ZQ Not sure if it's relevant, just interesting, is all.
  7. Yes, it is falling faster as more and more people become 'employed' since more labour supply means less employer demand thus pushing down the price of labour, amongst other things. This is a function of poor government, in my view. The biggest problem in wage growth is the consistent reduction in wages from 2008 through to 2015 being negative every year therein; some attribute this to productivity losses per capita, but I remain to be convinced that it is national macro-economics rather than a more systemic failure occurring.
  8. Wage growth in respect of inflation was in decline before Brexit. So attributing wage decline to Brexit is at best erroneous, at worst outright fabrication. I'll give you the benefit of the doubt and plump for the former. Even the BBC's Kamal Ahmed didn't attribute this to Brexit, which, I must admit, was quite a surprise, to me. http://www.bbc.co.uk/news/business-39578270
  9. I was referencing the EU's treatment of Syriza and Greece. More later, some more big naturals to play with.
  10. Yep. This government is a hapless shambles, and any international project with them at the helm seems bound for failure; and worse, I don't think that they can even help themselves.
  11. Well, quite Am currently re organising the code so that it is a sign and magnitude representation, which, of course, means that the first order of business is some big naturals ...
  12. One benefit of leaving the EU is that we won't be members of the EU. You know the one, the one that ruthlessly crushes the poor in their time of need ....
  13. You called people who call other people names 'scoundrels' and berated them for calling people names. Such amusing irony!! What's good for the goose etc. (Of course, there's an altogether more sinister motive, such as believing yourself to be above everyone else, but I kindly gave you the benefit of the doubt)
  14. So the irony of calling people names to those who call people names is lost on you after all!!
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