On Sun, 26 Feb 2023 11:16:30 +1100, alan_m <junk@admac.myzen.co.uk> wrote:

> On 25/02/2023 23:11, JNugent wrote:
>> On 25/02/2023 02:30 pm, alan_m wrote:
>>
>>> On 25/02/2023 12:14, Brian Gaff wrote:
>>>
>>>> In many countries labour seems cheap
>>>> by our standards, and many companies use this to make goods here
>>>> cheaper,
>>>> which never happened on the same scale before.
>>>
>>> The industrial revolution in the UK was based mainly on the majority
>>> of people working long hours for little money.
>> Was it?
>> So why did all those hundreds of thousands of people move from
>> agriculture to industry and from farmworkers' cottages to the
>> burgeoning terraced house suburbs of those places?
>> Because they liked the smell of coal smoke and lubricating oil?

> You erroneously assume that the life of a farm labourer was a bed of
> roses.

No, they clearly decided that they preferred factory work.

> The industrial revolution also coincided with somewhat of a revolution
> in the use of rural land and methods of farming requiring a smaller
> workforce. As a result many were kicked out of their cottages.

I'd like to see hard numbers on that.

On Sat, 25 Feb 2023 14:40:57 +0000, alan_m wrote:

>> I think that the whole system should be changed to give people a
>> living wage by government,
>
> But the Government have no money of their own so tax the general
> population to give them back their own money minus the cost of
> administration.

They can just print what they need.

MMT!

On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:

> On 25/02/2023 08:35 pm, Rod Speed wrote:
>
>> Brian Gaff <brian1gaff@gmail.com> wrote
>>
>>> I think to answer this, and the same question has happened before of
>>> course, who remembers Harold Wilson stopping people from taking money
>>> abroad, or the 1970s recession,
>>
>> Because the country was bankrupt.
>
> It always is after two or three years of Labour government.
>
> "There is no money left".
>
> Many a true word...

But not true just as it wasn't true then. The govt can just print
what they need. Just as they did for covid, the afgan refugees etc.

On Sun, 26 Feb 2023 14:06:25 +0000
mechanic <mechanic@example.net> wrote:

> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>
> > On 25/02/2023 08:35 pm, Rod Speed wrote:
> >
> >> Brian Gaff <brian1gaff@gmail.com> wrote
> >>
> >>> I think to answer this, and the same question has happened before
> >>> of course, who remembers Harold Wilson stopping people from
> >>> taking money abroad, or the 1970s recession,
> >>
> >> Because the country was bankrupt.
> >
> > It always is after two or three years of Labour government.
> >
> > "There is no money left".
> >
> > Many a true word...
>
> But not true just as it wasn't true then. The govt can just print
> what they need. Just as they did for covid, the afgan refugees etc.

But the government didn't print more goods and services, hence the high
inflation we have for the foreseeable future.

--
Joe

On 25/02/2023 23:11, JNugent wrote:
> On 25/02/2023 02:30 pm, alan_m wrote:
>
>> On 25/02/2023 12:14, Brian Gaff wrote:
>>
>>> In many countries labour seems cheap
>>> by our standards, and many companies use this to make goods here
>>> cheaper,
>>> which never happened on the same scale before.
>>
>> The industrial revolution in the UK was based mainly on the majority
>> of people working long hours for little money.
>
> Was it?
>
> So why did all those hundreds of thousands of people move from
> agriculture to industry and from farmworkers' cottages to the burgeoning
> terraced house suburbs of those places?
>
> Because they liked the smell of coal smoke and lubricating oil?

No, mechanisation of farming practices put many out of
work and that meant out of somewhere to live. Like the
migrants camped on the Northern French coast, there was
a story going around that the streets of English cities
were paved with gold.

Also, (and frequently overlooked) there was a serious
famine in England at one point.

On 26/02/2023 14:00, mechanic wrote:
> On Sat, 25 Feb 2023 14:40:57 +0000, alan_m wrote:
>
>>> I think that the whole system should be changed to give people a
>>> living wage by government,
>>
>> But the Government have no money of their own so tax the general
>> population to give them back their own money minus the cost of
>> administration.
>
> They can just print what they need.
>
>
> MMT!

Until Lettuce monday they could alway rely on overseas
friends to buy our debt, now up to about £2 trillion,
at rock bottom interest rates.

On Mon, 27 Feb 2023 01:00:04 +1100, mechanic <mechanic@example.net> wrote:

> On Sat, 25 Feb 2023 14:40:57 +0000, alan_m wrote:
>
>>> I think that the whole system should be changed to give people a
>>> living wage by government,
>>
>> But the Government have no money of their own so tax the general
>> population to give them back their own money minus the cost of
>> administration.
>
> They can just print what they need.

In reality they collect FAR more than they print.

> MMT!

On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:

> On Sun, 26 Feb 2023 14:06:25 +0000
> mechanic <mechanic@example.net> wrote:
>
>> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>>
>> > On 25/02/2023 08:35 pm, Rod Speed wrote:
>> >
>> >> Brian Gaff <brian1gaff@gmail.com> wrote
>> >>
>> >>> I think to answer this, and the same question has happened before
>> >>> of course, who remembers Harold Wilson stopping people from
>> >>> taking money abroad, or the 1970s recession,
>> >>
>> >> Because the country was bankrupt.
>> >
>> > It always is after two or three years of Labour government.
>> >
>> > "There is no money left".
>> >
>> > Many a true word...
>>
>> But not true just as it wasn't true then. The govt can just print
>> what they need. Just as they did for covid, the afgan refugees etc.
>
> But the government didn't print more goods and services, hence the high
> inflation we have for the foreseeable future.

Nope, the high inflation is due to the war in the ukraine.

On Mon, 27 Feb 2023 04:48:46 +1100
"Rod Speed" <rod.speed.aaa@gmail.com> wrote:

> On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:
>
> > On Sun, 26 Feb 2023 14:06:25 +0000
> > mechanic <mechanic@example.net> wrote:
> >
> >> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
> >>
> >> > On 25/02/2023 08:35 pm, Rod Speed wrote:
> >> >
> >> >> Brian Gaff <brian1gaff@gmail.com> wrote
> >> >>
> >> >>> I think to answer this, and the same question has happened
> >> >>> before of course, who remembers Harold Wilson stopping people
> >> >>> from taking money abroad, or the 1970s recession,
> >> >>
> >> >> Because the country was bankrupt.
> >> >
> >> > It always is after two or three years of Labour government.
> >> >
> >> > "There is no money left".
> >> >
> >> > Many a true word...
> >>
> >> But not true just as it wasn't true then. The govt can just print
> >> what they need. Just as they did for covid, the afgan refugees
> >> etc.
> >
> > But the government didn't print more goods and services, hence the
> > high inflation we have for the foreseeable future.
>
> Nope, the high inflation is due to the war in the ukraine.

The Ukrainians printed a load of Sterling? Who knew?

--
Joe

On Mon, 27 Feb 2023 05:54:13 +1100, Joe <joe@jretrading.com> wrote:

> On Mon, 27 Feb 2023 04:48:46 +1100
> "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
>
>> On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:
>>
>> > On Sun, 26 Feb 2023 14:06:25 +0000
>> > mechanic <mechanic@example.net> wrote:
>> >
>> >> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>> >>
>> >> > On 25/02/2023 08:35 pm, Rod Speed wrote:
>> >> >
>> >> >> Brian Gaff <brian1gaff@gmail.com> wrote
>> >> >>
>> >> >>> I think to answer this, and the same question has happened
>> >> >>> before of course, who remembers Harold Wilson stopping people
>> >> >>> from taking money abroad, or the 1970s recession,
>> >> >>
>> >> >> Because the country was bankrupt.
>> >> >
>> >> > It always is after two or three years of Labour government.
>> >> >
>> >> > "There is no money left".
>> >> >
>> >> > Many a true word...
>> >>
>> >> But not true just as it wasn't true then. The govt can just print
>> >> what they need. Just as they did for covid, the afgan refugees
>> >> etc.
>> >
>> > But the government didn't print more goods and services, hence the
>> > high inflation we have for the foreseeable future.
>>
>> Nope, the high inflation is due to the war in the ukraine.
>
> The Ukrainians printed a load of Sterling?

No, the Ukraine war produced sanctions on Russia which
hiked the price of gas and THATS what produced the inflation.

On Mon, 27 Feb 2023 08:13:35 +1100
"Rod Speed" <rod.speed.aaa@gmail.com> wrote:

> On Mon, 27 Feb 2023 05:54:13 +1100, Joe <joe@jretrading.com> wrote:
>
> > On Mon, 27 Feb 2023 04:48:46 +1100
> > "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
> >
> >> On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:
> >>
> >> > On Sun, 26 Feb 2023 14:06:25 +0000
> >> > mechanic <mechanic@example.net> wrote:
> >> >
> >> >> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
> >> >>
> >> >> > On 25/02/2023 08:35 pm, Rod Speed wrote:
> >> >> >
> >> >> >> Brian Gaff <brian1gaff@gmail.com> wrote
> >> >> >>
> >> >> >>> I think to answer this, and the same question has happened
> >> >> >>> before of course, who remembers Harold Wilson stopping
> >> >> >>> people from taking money abroad, or the 1970s recession,
> >> >> >>
> >> >> >> Because the country was bankrupt.
> >> >> >
> >> >> > It always is after two or three years of Labour government.
> >> >> >
> >> >> > "There is no money left".
> >> >> >
> >> >> > Many a true word...
> >> >>
> >> >> But not true just as it wasn't true then. The govt can just
> >> >> print what they need. Just as they did for covid, the afgan
> >> >> refugees etc.
> >> >
> >> > But the government didn't print more goods and services, hence
> >> > the high inflation we have for the foreseeable future.
> >>
> >> Nope, the high inflation is due to the war in the ukraine.
> >
> > The Ukrainians printed a load of Sterling?
>
> No, the Ukraine war produced sanctions on Russia which
> hiked the price of gas and THATS what produced the inflation.

Increases in the prices of individual goods or services is *not*
inflation.

Inflation is the reduction in the purchasing power of a currency of all
goods and services by the same amount at the same time, though sellers
may reprice their goods and services a little differently from each
other. It is caused by the money supply being increased faster than the
supply of goods and services which can be bought with that money.
Always. It is invariably caused by the issuers of the devalued
currency, generally as instructed by the government.

Both phenomena cause a rise in the cost of living, but that does not
make them the same thing.

--
Joe

On Mon, 27 Feb 2023 08:30:20 +1100, Joe <joe@jretrading.com> wrote:

> On Mon, 27 Feb 2023 08:13:35 +1100
> "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
>
>> On Mon, 27 Feb 2023 05:54:13 +1100, Joe <joe@jretrading.com> wrote:
>>
>> > On Mon, 27 Feb 2023 04:48:46 +1100
>> > "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
>> >
>> >> On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:
>> >>
>> >> > On Sun, 26 Feb 2023 14:06:25 +0000
>> >> > mechanic <mechanic@example.net> wrote:
>> >> >
>> >> >> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>> >> >>
>> >> >> > On 25/02/2023 08:35 pm, Rod Speed wrote:
>> >> >> >
>> >> >> >> Brian Gaff <brian1gaff@gmail.com> wrote
>> >> >> >>
>> >> >> >>> I think to answer this, and the same question has happened
>> >> >> >>> before of course, who remembers Harold Wilson stopping
>> >> >> >>> people from taking money abroad, or the 1970s recession,
>> >> >> >>
>> >> >> >> Because the country was bankrupt.
>> >> >> >
>> >> >> > It always is after two or three years of Labour government.
>> >> >> >
>> >> >> > "There is no money left".
>> >> >> >
>> >> >> > Many a true word...
>> >> >>
>> >> >> But not true just as it wasn't true then. The govt can just
>> >> >> print what they need. Just as they did for covid, the afgan
>> >> >> refugees etc.
>> >> >
>> >> > But the government didn't print more goods and services, hence
>> >> > the high inflation we have for the foreseeable future.
>> >>
>> >> Nope, the high inflation is due to the war in the ukraine.
>> >
>> > The Ukrainians printed a load of Sterling?
>>
>> No, the Ukraine war produced sanctions on Russia which
>> hiked the price of gas and THATS what produced the inflation.
>
> Increases in the prices of individual goods or services is *not*
> inflation.

How odd that the price of those is included in the calculation of the CPI.

> Inflation is the reduction in the purchasing power of a currency of all
> goods and services

And that is determined by the PRICE of them.

> by the same amount at the same time,

That never happens.

> though sellers
> may reprice their goods and services a little differently from each
> other.

Or don't need to reprice their goods and services
when their inputs to them have not been affected.

> It is caused by the money supply being increased faster than the
> supply of goods and services which can be bought with that money.
> Always.

Wrong, as always. And that isnt the reason for the current spike in
inflation.

> It is invariably caused by the issuers of the devalued
> currency, generally as instructed by the government.

That isnt the reason for the current spike in inflation.

> Both phenomena cause a rise in the cost of living, but that does not
> make them the same thing.

Pathetic.

On 26/02/2023 14:06, mechanic wrote:
> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>
>> On 25/02/2023 08:35 pm, Rod Speed wrote:
>>
>>> Brian Gaff <brian1gaff@gmail.com> wrote
>>>
>>>> I think to answer this, and the same question has happened before of
>>>> course, who remembers Harold Wilson stopping people from taking money
>>>> abroad, or the 1970s recession,
>>>
>>> Because the country was bankrupt.
>>
>> It always is after two or three years of Labour government.
>>
>> "There is no money left".
>>
>> Many a true word...
>
> But not true just as it wasn't true then. The govt can just print
> what they need. Just as they did for covid, the afgan refugees etc.

Oh dear. No they cannot just print money. The B of E can , But it is a
process of issuing gilt edged debt.

So it still in some sense has to be paid back.
Blair and Brown discovered that you can borrow money and buy votes with
it 'investing in people' who just then spend it on chianes crap,
creating pure wealth destruction.
You end up with no productive industry, no exporst and a crap balance
of payment and a huge government deficit to pay interest on it, which
they then handed to the tory/lib dem wankers, who made it even worse.
..

--
Those who want slavery should have the grace to name it by its proper
name. They must face the full meaning of that which they are advocating
or condoning; the full, exact, specific meaning of collectivism, of its
logical implications, of the principles upon which it is based, and of
the ultimate consequences to which these principles will lead. They must
face it, then decide whether this is what they want or not.

Ayn Rand.

On 26/02/2023 14:09, Joe wrote:
> On Sun, 26 Feb 2023 14:06:25 +0000
> mechanic <mechanic@example.net> wrote:
>
>> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>>
>>> On 25/02/2023 08:35 pm, Rod Speed wrote:
>>>
>>>> Brian Gaff <brian1gaff@gmail.com> wrote
>>>>
>>>>> I think to answer this, and the same question has happened before
>>>>> of course, who remembers Harold Wilson stopping people from
>>>>> taking money abroad, or the 1970s recession,
>>>>
>>>> Because the country was bankrupt.
>>>
>>> It always is after two or three years of Labour government.
>>>
>>> "There is no money left".
>>>
>>> Many a true word...
>>
>> But not true just as it wasn't true then. The govt can just print
>> what they need. Just as they did for covid, the afgan refugees etc.
>
> But the government didn't print more goods and services, hence the high
> inflation we have for the foreseeable future.
>
The high inflation is not down to high money supply, its down to a
resource shortage that has been *deliberately* created by implementing
green energy policies instead of fracking and building nuclear power.

With the explicit collusion of Russia who could then use gas as a lever
to control Europe.

This is the cost of not giving in to Putin, and of not sacking all the
Remainer politicians who are complicity in the EU derived renewable
obligation

--
Those who want slavery should have the grace to name it by its proper
name. They must face the full meaning of that which they are advocating
or condoning; the full, exact, specific meaning of collectivism, of its
logical implications, of the principles upon which it is based, and of
the ultimate consequences to which these principles will lead. They must
face it, then decide whether this is what they want or not.

Ayn Rand.

On 26/02/2023 17:22, Andrew wrote:
> On 25/02/2023 23:11, JNugent wrote:
>> On 25/02/2023 02:30 pm, alan_m wrote:
>>
>>> On 25/02/2023 12:14, Brian Gaff wrote:
>>>
>>>> In many countries labour seems cheap
>>>> by our standards, and many companies use this to make goods here
>>>> cheaper,
>>>> which never happened on the same scale before.
>>>
>>> The industrial revolution in the UK was based mainly on the majority
>>> of people working long hours for little money.
>>
>> Was it?
>>
>> So why did all those hundreds of thousands of people move from
>> agriculture to industry and from farmworkers' cottages to the
>> burgeoning terraced house suburbs of those places?
>>
>> Because they liked the smell of coal smoke and lubricating oil?
>
> No, mechanisation of farming practices put many out of
> work and that meant out of somewhere to live. Like the
> migrants camped on the Northern French coast, there was
> a story going around that the streets of English cities
> were paved with gold.

Before the industrial revolution the populations was stable at up to 6
million pre Black Death, down to around 3 million post Black death, and
did not really rise until advances in farming and mechanisation happened.

Once the mills and factories started up, we think it was massive
poverty, and so it was, but the populating trebled in 50 years.

And the labour moved out of the fields entirely.

There was work in the towns, and no work in the fields, although that
process of depopulation of the countryside carried on until the 1930s.
And its final demise is depicted in 'Larks Rise to Candleford' (the
book, not the film)

>
> Also, (and frequently overlooked) there was a serious
> famine in England at one point.

--
“Puritanism: The haunting fear that someone, somewhere, may be happy.”

H.L. Mencken, A Mencken Chrestomathy

On 26/02/2023 18:54, Joe wrote:
> On Mon, 27 Feb 2023 04:48:46 +1100
> "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
>
>> On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:
>>
>>> On Sun, 26 Feb 2023 14:06:25 +0000
>>> mechanic <mechanic@example.net> wrote:
>>>
>>>> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>>>>
>>>>> On 25/02/2023 08:35 pm, Rod Speed wrote:
>>>>>
>>>>>> Brian Gaff <brian1gaff@gmail.com> wrote
>>>>>>
>>>>>>> I think to answer this, and the same question has happened
>>>>>>> before of course, who remembers Harold Wilson stopping people
>>>>>>> from taking money abroad, or the 1970s recession,
>>>>>>
>>>>>> Because the country was bankrupt.
>>>>>
>>>>> It always is after two or three years of Labour government.
>>>>>
>>>>> "There is no money left".
>>>>>
>>>>> Many a true word...
>>>>
>>>> But not true just as it wasn't true then. The govt can just print
>>>> what they need. Just as they did for covid, the afgan refugees
>>>> etc.
>>>
>>> But the government didn't print more goods and services, hence the
>>> high inflation we have for the foreseeable future.
>>
>> Nope, the high inflation is due to the war in the ukraine.
>
> The Ukrainians printed a load of Sterling? Who knew?
>

No, the current inflation is not due to an oversupply of money, only
stupid Marxists think that, but they run the government economy. The
inflation is due to a scarcity of energy, which Russia is using to apply
pressure to the West to stay out of Ukraine. And the West is suing to
pressure Russia to cripple its war machine. And that scarcity has been
encouraged by Russian sponsorship of the EU Green lobby and its
renewable energy obligations

Raising interest rates was the most stupid thing the government did.

We will see crippling inflation for about 5 years until new energy
sources start to come onstream and maybe nuclear power gets built

--
Ideas are more powerful than guns. We would not let our enemies have
guns, why should we let them have ideas?

Josef Stalin

On 26/02/2023 21:30, Joe wrote:
> On Mon, 27 Feb 2023 08:13:35 +1100
> "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
>
>> On Mon, 27 Feb 2023 05:54:13 +1100, Joe <joe@jretrading.com> wrote:
>>
>>> On Mon, 27 Feb 2023 04:48:46 +1100
>>> "Rod Speed" <rod.speed.aaa@gmail.com> wrote:
>>>
>>>> On Mon, 27 Feb 2023 01:09:43 +1100, Joe <joe@jretrading.com> wrote:
>>>>
>>>>> On Sun, 26 Feb 2023 14:06:25 +0000
>>>>> mechanic <mechanic@example.net> wrote:
>>>>>
>>>>>> On Sat, 25 Feb 2023 23:14:48 +0000, JNugent wrote:
>>>>>>
>>>>>>> On 25/02/2023 08:35 pm, Rod Speed wrote:
>>>>>>>
>>>>>>>> Brian Gaff <brian1gaff@gmail.com> wrote
>>>>>>>>
>>>>>>>>> I think to answer this, and the same question has happened
>>>>>>>>> before of course, who remembers Harold Wilson stopping
>>>>>>>>> people from taking money abroad, or the 1970s recession,
>>>>>>>>
>>>>>>>> Because the country was bankrupt.
>>>>>>>
>>>>>>> It always is after two or three years of Labour government.
>>>>>>>
>>>>>>> "There is no money left".
>>>>>>>
>>>>>>> Many a true word...
>>>>>>
>>>>>> But not true just as it wasn't true then. The govt can just
>>>>>> print what they need. Just as they did for covid, the afgan
>>>>>> refugees etc.
>>>>>
>>>>> But the government didn't print more goods and services, hence
>>>>> the high inflation we have for the foreseeable future.
>>>>
>>>> Nope, the high inflation is due to the war in the ukraine.
>>>
>>> The Ukrainians printed a load of Sterling?
>>
>> No, the Ukraine war produced sanctions on Russia which
>> hiked the price of gas and THATS what produced the inflation.
>
> Increases in the prices of individual goods or services is *not*
> inflation.
>
It is you crass and poiuntless iddiotr

> Inflation is the reduction in the purchasing power of a currency of all
> goods and services by the same amount at the same time, though sellers
> may reprice their goods and services a little differently from each
> other. It is caused by the money supply being increased faster than the
> supply of goods and services which can be bought with that money.
> Always. It is invariably caused by the issuers of the devalued
> currency, generally as instructed by the government.
>
No, that is just ONE type of inflatin caused by miney supply exceeding
general prodiction of goods.

At the moment we have a specific shortage of some goods caused by energy
shortages which is having a ripple through effect on all economies.
The problem is that energy costs underpin almost everything in a post
modern society.

> Both phenomena cause a rise in the cost of living, but that does not
> make them the same thing.
>
But they are both called inflation

--
"When one man dies it's a tragedy. When thousands die it's statistics."

Josef Stalin

Am 25/02/2023 um 18:53 schrieb JNugent:
> On 25/02/2023 11:47 am, Ottavio Caruso wrote:
>>
>>
>> Am 24/02/2023 um 14:39 schrieb R D S:
>
> [ ... ]
>
>>> Strange times.
>>
>> Not so strange.
>>
>> Cost of living is always engineered to be higher than your wages,
>> otherwise how would bank make a profit?
>
> Eh?
>
> When I started work, I didn't have a bank account. I didn't open one
> until four years later. My wages were paid to me in cash, in a little
> envelope upon which were written details of National Insurance and
> Income Tax deductions as well as union and other deductions.
>

I assumed we were talking about the 20th century.

--
Ottavio Caruso

On Mon, 27 Feb 2023 22:44:20 +1100, Ottavio Caruso
<ottavio2006-usenet2012@yahoo.com> wrote:

>
>
> Am 25/02/2023 um 18:53 schrieb JNugent:
>> On 25/02/2023 11:47 am, Ottavio Caruso wrote:
>>>
>>>
>>> Am 24/02/2023 um 14:39 schrieb R D S:
>> [ ... ]
>>
>>>> Strange times.
>>>
>>> Not so strange.
>>>
>>> Cost of living is always engineered to be higher than your wages,
>>> otherwise how would bank make a profit?
>> Eh?
>> When I started work, I didn't have a bank account. I didn't open one
>> until four years later. My wages were paid to me in cash, in a little
>> envelope upon which were written details of National Insurance and
>> Income Tax deductions as well as union and other deductions.
>>
>
> I assumed we were talking about the 20th century.

He can't have been talking about any other century.

I got paid that way in a number of jobs in the mid 20th century.

And the fella who did the pay had a revolver so he could blow
away any robber in the 70s.

I did have a bank account while still in school tho.

On 27/02/2023 00:09, The Natural Philosopher wrote:
> No, the current inflation is not due to an oversupply of money, only
> stupid  Marxists think that, but they run the government economy. The
> inflation is due to a scarcity of energy, which Russia is using to apply
> pressure to the West to stay out of Ukraine. And the West is suing to
> pressure Russia to cripple its war machine. And that scarcity has been
> encouraged by Russian sponsorship of the EU Green lobby and its
> renewable energy obligations
>
> Raising interest rates was the most stupid thing the government did.
>
> We will see crippling inflation for about 5 years until new energy
> sources start to come onstream and maybe nuclear power gets built

Right now real interest rates are negative.

Savings and mortgage rates are about half inflation.

Inflation has shrunk money by 10% or so in a year.

Savings interest has only returned half that. And it's likely taxed.

If you have borrowed money then your debt has shrunk too.

Andy

On 27/02/2023 00:09, The Natural Philosopher wrote:

> Raising interest rates was the most stupid thing the government did.
>

The government did raise interest rates. After Lettuce Monday, the
international dealers in gilts pushed 10-year rates up to 4.6%.
This determines all savings and mortgage rates. Bank base rate
is meaningless by comparison.

> We will see crippling inflation for about 5 years until new energy
> sources start to come onstream and maybe nuclear power gets built
>
>
>
The first (French built) reactor has arrived at Hinkley

https://www.edfenergy.com/energy/nuclear-new-build-projects/hinkley-point-c/news-views/first-reactor-arrives-hinkley-point-c

I wonder how many potholes that created, or how such a long
trolley adjusts to existing road undulations ?.

" It will be installed in the reactor building after the dome is lifted
into place.". Huh ??.

On 28/02/2023 14:24, Andrew wrote:
> On 27/02/2023 00:09, The Natural Philosopher wrote:
>
>> Raising interest rates was the most stupid thing the government did.
>>
>
> The government did raise interest rates. After Lettuce Monday, the

That should have been "did NOT raise interest rates"

> international dealers in gilts pushed 10-year rates up to 4.6%.
> This determines all savings and mortgage rates. Bank base rate
> is meaningless by comparison.
>
>> We will see crippling inflation for about 5 years until new energy
>> sources start to come onstream and maybe nuclear power gets built
>>
>>
>>
> The first (French built) reactor has arrived at Hinkley
>
> https://www.edfenergy.com/energy/nuclear-new-build-projects/hinkley-point-c/news-views/first-reactor-arrives-hinkley-point-c
>
> I wonder how many potholes that created, or how such a long
> trolley adjusts to existing road undulations ?.
>
> " It will be installed in the reactor building after the dome is lifted
> into place.". Huh ??.