UK Recession: Hints, tips, tricks and news.'s Journal|
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|Monday, February 11th, 2013|
|Tuesday, March 29th, 2011|
Note: The truth is the last thing anyone wants to hear. I'm expecting to get abuse for this, if certain people end up reading it.
The march 26th demonstration was... interesting: Very dull, very boring but very neccesary. There was a desperate, depressed atmosphere in the crowd. They were led along, often corralling themselves behind arbitrary barriers in the road. Several times I went into the unoccupied side of the road as it was becoming dangerously overcrowded in the main march. They were just so depressing.
Then there were the anarchists. At first I liked the cut of their jib as they had a bit more life to them; while the criminal damage seemed fairly minor and tokenistic, but then after I got home I saw the footage. I noticed, not for the first time, the way the so-called Black Bloc were always surrounded by camera crews and strangely inactive police officers, and I thought: SET-UP.
Why do smart people do stupid things? Usually it betrays deep-seated emotional problems. My guess is that their leaders
are almost certainly secret policemen
- like Mark Kennedy
- and they are generally a bunch of cops and messed up kids with Daddy issues, total patsies. So why didn't the ordinary demonstrators eject them or restrain them or anything? See above - we were all so cowed that we barely scraped it together to turn up. Violence from our own ranks would simply make us more apathetic. I include myself in this - I like to think I would have got angry, but what would I say? There was no sense of unity like there usually is on demos; we were all just alone in a crowd.
For comparison, this is how to deal with provocateurs:
So you've got the crazy rioters led by the secret police, and then you've got the great mass of depressed and repressed ordinary people. This isn't going to change a thing.
Conclusion: Politics is entering its final phase of degeneration. The fact that such obvious police provocateurs as the Black Bloc can infiltrate peaceful demonstrations at will and then set the entire media tone for a march of 500,000 people, shows just how cowed and apathetic most ordinary people are, even those who demonstrate.
Prediction: Very soon, new police powers will manage to completely stifle all dissent, except the pumped-up pseudo-dissent of the fake anarchists / secret police. The State needs something to put people off demonstrating and a sponge for popular rage, and these people are both. They are so contemptible as to defy description.
Prediction 2: Tory economic policy is so bad, and the world in such bad shape, that the economy will soon go into free fall. While millions will become unemployed and homeless, there will be no way to help them. They cannot help themselves as they are too cowardly and fucked-up, and nobody else wants to help them even if they could- resources just won't exist to deal with the economic tsunami that's going to hit this country.
Prediction 3: Even without the economic shitstorm, so many of the merely poor will become utterly dispossesed as to create a new class of people. This is the so-called "underclass" beloved of, and created by, right wing social theorists. Many things will happen next, none of them good: The dispossed will turn to crime, creating a crime tsunami to go with the economic one, they will also turn to shit politics and religion (boom times for the EDL, BNP, radical Islam and Christian Fundamentalism), which in turn will make further activism and other emergency repair jobs on the body politic impossible, while dividing people from each other even more than they already are.
If you want to know what the future looks like, it is this: A mass of crazy hysterical people running around smashing their own stuff up, punching themselves in the face and trampling each other in the desperate desire to escape themselves while the rich look on, amused. Another bunch of totally desperate slaves toiling away to keep the whole bullshit edifice from falling apart, which it inevitably will. Indeed the only good thing about the new order that is being created by the Tories is that it is inherently unstable - massively polarised societies like theirs just cannot exist for long, and the ruling class will have to either elect themselves another New Labour - likely too little, too late - or be swept away in the chaos they themselves have created. In the long run though, this is just another moment in the collapse of our society, like a snapshot of a falling building.
|Wednesday, October 27th, 2010|
Taxman to public: Fuck you twice over
Bastard responsible for letting vodafone avoid £6bil in tax the same one who screwed up everyone elses taxes then told us to swivel.
One thing that's emerging from the Vodafone Affair
is that the tax official who let the beleagured phone company get away with 6bn in unpaid taxes, Dave Hartnett, is the very same man who messed up the personal taxes of the little people earlier this year leaving thousands facing crippling debts, then refused to apologise.
BTW, corruption, anyone? http://www.thisismoney.co.uk/news/article.html?in_article_id=514832&in_page_id=2The agreement between HMRC and Vodafone came after negotiations-between revenue officersand John Connors, Vodafone's head of tax. Until 2007, Mr Connors was a senior official at HMRC, where he worked closely with Mr Hartnett.
Ah, well. It's only the rule of law. Don't let a little thing like that get in the way of big profits at public expense. On with the post!http://www.private-eye.co.uk/sections.php?section_link=in_the_backOfficials were further emboldened last year when the court of appeal ruled that British laws striking out the avoidance scheme could conform with European laws. But they reckoned without HM Revenue & Customs’ (HMRC) “permanent secretary for tax”, Dave Hartnett, and his customer-friendly approach to big multinationals. http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/7997605/Dave-Hartnett-fails-to-win-backing-of-Government-over-tax-fiasco.htmlMr Hartnett, the permanent secretary for tax at HM Revenue & Customs, was widely condemned over the weekend for his initial refusal to apologise for sending out demands to more than a million consumers that they need to pay extra tax.
"I'm not sure a need to apologise," he said in a Radio 4 interview on Saturday. "We didn't get it wrong."
Turns out Mr. Hartnett is a real regular guy, because he's also helped a prominent member of the Con-Dem government, unelected cuts supremo Sir Philip Green, with his own tax scamola.http://www.davidosler.com/2010/08/sir-philip-green-tax-avoider-gets-job-on-the-side/
from the aforementioned Eye article
:PS: The Tories have further cause to thank Mr Hartnett. As Eye 1136 revealed five years ago, government cuts adviser Philip Green had personal discussions with Hartnett over his tax affairs while legal battles raged over schemes for husbands and wives to share their income for tax purposes. Dividends from Green’s businesses continue to be paid to trusts controlled by his Monaco-resident wife Tina, undisturbed by the taxman.
"Personal discussions" huh? I wonder how libellous it would be to call Hartnett a corrupt fuck who has sold us out so he can hob-nob with scrounging, rich scumbags like Green and co?
Some more interesting commentary here
In any decent society men like Hartnett and Connors, who ensure the barons pay sod all tax while thrashing everyone else to within an inch of our lives, would be put up against a wall and shot
.The Chinese appear to have got that one right.
However, we do things differently here. This isn't some underdeveloped emerging economy where the government shoot people willy nilly - well, not public officals and rich people, anyway.
No, we're a proper first-world economy with a fully developed culture of corruption and graft, a world leader where billionaire businessmen get to steal from the mouths of the poor and mega-corporations pay fuck all contribution while everyone else gets hammered, so I see a top position in the City in this man's future.
Meanwhile, you can sign the petition to make Vodafone pay us what they owe us here
. Oh, and you might want to pop in to your local Vodafone on Saturday.
|Thursday, September 23rd, 2010|
This is why we're fucked.
The Wall Street Journal on why the campaign for a living wage is "preposterous" and "nonsense":http://online.wsj.com/article/SB10001424052748703860104575507413076406230.html?mod=googlenews_wsj
Apparently, it's because "workers do not die if paid less than £7.60 an hour". Furthermore, it's akin to theft and "ethnic demagoguery". Apparently, due to unemployment benefits, "the living wage in Britain is zero".
In case you were wondering, this is why we're fucked. The guy running the campaign, Labour leadership candidate Ed Miliband has been subject to mounds of abuse from the press because, accoring to sleazeball Labour grandee Peter Mandelson,
he "offers nothing to people worried about immigrants, housing and welfare scroungers" (i.e, greedy bigots on the make).
We live in a world run by scum like this, an upside-down planet where a decent man can be vilified for his very decency. A world where attacking the weak and vulnerable is seen as "tough" and "offering something" to "middle England", and generosity and kindness are seen as evil, dangerous "demagogy" to be purged forever, indeed, "theft" and "looting", all the Randian codewords are out now.
I predict that someone like Ed will never be PM, or that if he is, he will be subject to Clintonian levels of abuse and lawfare. And the suckers will lap it up.
|Friday, September 17th, 2010|
Even the IMF think the cuts are too much!
IMF warns of the 'human cost' of public spending cuts
International Monetary Fund joins OECD in condemning planned budget cuts, warning the 'livelihood, security and dignity of millions' is under threathttp://www.guardian.co.uk/business/2010/sep/13/imf-public-sector-cuts
Things are bloody bad. Took a walk around some of the shops in town today - over half the units in one particular arcade were empty. The rest consisted of a sleazy gold dealer, a sleazy phone shop, a tanning salon, and, incongrously, a shop selling expensive chocolate.
There was only one place in that part of town that seemed to have any money - the new, jumbo-sized branch of Barclays bank. Fat with taxpayer's cash the fuckers have the gall to open new premises.http://www.youtube.com/watch?v=Ob-TD23_nCs
Bastards. Current Mood: artistic
|Monday, May 17th, 2010|
It must be bad: They're talking about taxing the rich!
http://www.telegraph.co.uk/news/newstopics/politics/conservative/7734803/Higher-taxes-for-a-million-as-George-Osbornes-emergency-Budget-hits-investors.htmlCGT on “non-business assets”, including second homes, buy-to-let properties and shares, could rise from the current 18 per cent flat rate to a top rate of 40 or even 50 per cent...
"...Mr Osborne insisted that the CGT increase was necessary in order to crack down on income tax avoidance, saying that there was an “enormous amount of income shifting”.
Crackdown on income tax avoidance? More than doubling capital gains tax? WTF?
Normally the Tories, like most politicians, are all about stomping the poor - and here they are with a proposal that you'd expect to hear from the Oldest of Old Labour. Before we know it he'll be redistributing the wealth like a motherfucker.
Christ, the deficit must really be bad. Basically there's a limit to the amount you can cut the wages of people who are already skint and after 30 years of Thatcherism the rich are the only ones with any cash left to take, so it makes sense to hit the people who are loaded.
I never thought a Tory would do something like this. Maybe it's a "Only Nixon can go to China" thing - only a right winger can take lots of money from the rich without being publicly blasted by the press as Some Sort Of Socialist.
|Wednesday, March 24th, 2010|
Budget day fun!
Just before outlining a stamp duty giveway, the radio said:"(the Chancellor)'s saying this budget won't be a giveaway, but that's because he's got no money TO give away."
What are your fave rave budget day quotes?
|Tuesday, March 16th, 2010|
Because it's in the news today... why are petrol prices so expensive?
Current price of a litre of normal unleaded at the station nearest my house is 116.9p. Here's a breakdown of that cost (assuming today's spot rates are factored into the price):
Current raw cost of petrol: 37.7p
Profit for petrol station: 5.6p
Fuel Duty: 56.2p
Fuel duty is due to rise on April 1st by CPI + 1%. I project CPI to drop to ~2.9% this month, so additional fuel duty should rise to ~58.4p and VAT will rise accordingly as well (we have tax on top of tax in case you didn't know). It should result in a 3p price rise at the pump.
Note the petrol station's profit is absolutely tiny. That 5.6p pays for the entire running of the station - staff, business rates, charges on card transactions, etc. Actual profits will be in the order of fractions of a penny at best.
Current government tax on a litre of petrol is 73.6p, not counting the taxes imposed upon the station and its staff. If you have a 40 litre tank on your car, every fill-up pays £29.44 to the state, rising to £30.48 next month.
I made a graph (clicky for make-biggy)...
This is a similar graph to what's shown here
, but IMO betting markets are a much better indicator of the anticipated outcome of the next election. Opinion polls only indicate uniform national swing, which does not translate directly into parliamentary seats.
I wonder what will happen to the currency on election day... From the looks of this, a hung parliament would cause sterling to plummet downwards, a strong tory majority would cause sterling to rocket upwards.
|Thursday, February 25th, 2010|
This is significant news, for some reason it has not hit the BBC or other major outlets yet.4th Quarter UK business investment falls 5.8%
(growth of 0.1% expected
This could negatively affect last quarter's GDP - if that is revised downwards at all (it's only at 0.1% growth) the UK will still be classed as being in recession. "The recovery" wont have happened.
Revision of GDP could come tomorrow. Prevailing consensus before today was that it would be revised upward.edit:
false alarm - GDP growth revised upward to 0.3%
|Wednesday, February 17th, 2010|
|Tuesday, January 19th, 2010|
Inflation beats expectations
who'd've thunk it?rough projections made last september
looking eerily accurate.
January's figures at 4%+ CPI & 5%+ RPI is now very likely.
Government borrowing is creaking. Gilt market finally signalling that it wants an interest rate rise (Admittedly later than I expected. I am consistantly amazed at the length of time that markets can stay irrational)
The British economy as we know it cannot function if rates rise. The banks that are reliant on cheap money will fail again, mortgage holders will not be able to make payments, consumer spending will die on its arse > massive job losses.
Raise rates = collapse economy = political suicide.
Extend quantitative easing = buy a few more months of faux prosperity, but ultimately collapse currency
|Monday, January 11th, 2010|
No questions in the house, no give and take
Here's a welfare horror story for those of us who get their information from the right-wing press:http://www.guardian.co.uk/commentisfree/2010/jan/07/mother-suicide-welfare-state
There will be no questions in the House over this. No public enquiry. Simply put, nobody cares.
This is never going to change, and in fact it will get much, much worse. People will be dropping out of tower blocks like flies by the time the Tories and Labour have finished with their new clampdown / dragnet on the sick and the mentally ill.
This is purely and simply because there is nobody to stop them. The Left are too busy supporting terrorists and dictators, the liberals are too busy excoriating the Left for the above, face it, nobody gives a toss about ordinary people, particularly the poor and vulnerable. Everyday life is jut not on the radar politically and every means to get it on the radar has been co-opted by power-hungry scum and middle class hippy-dippy twerps. There's no justice, there's just us.
We're all fucked. Current Mood: angry
|Monday, December 7th, 2009|
A glimpse of the sort of world we'll have after all this is over
This is so cool it makes me want to cum in my pants: Can Saharan Solar Power Save Europe?Solar Industry: The Stage Is Set For A Global Recovery
IMHO this is why we in the UK need to cling to Europe like a dying man... Anglo-Americans will never dominate the world again, our time in the sun is over and our economies and political systems are collapsing, but thanks to fab geography WE, unlike the USians, are on the coast of Europe, which along with China and India is on track to be the Next Big Thing. As long as those guys let us play we'll have prefential access to one of the few markets that has any demand in it at all, and not as competitors but in co-operation. Something worth remembering in a country where so many people are long term unemployed that they don't even bother counting 'em any more.
As for the DESERTEC project itsself, the one small snag is that it requires us to work with the Middle East. That said the North African countries are a lot less mad and more stable, they need us more than we need them. If the worst comes to the worst we can always relocate the solar farms to the very similar desert that's springing up
Thanx climate change! Current Mood: hope, lols
|Wednesday, September 23rd, 2009|
It's deflation apparently. Fear the deflation!!!!1
Between January and August the CPI (which actually understates price increases by design) has risen from 108.7 to 111.4. That's a 2.5% rise, or an annualised rate of 4.3%. RPI annualised since January is 3.5% or 5.1% excluding mortgage interest payments (RPIX).
With the exception of the months leading up to the crash last year, prices measured by the CPI and RPIX have not been rising at this rate since just before we crashed out of the European Exchange Rate Mechanism in 1992. We had interest rates in double figures back then.
And prices are going to climb faster - by December, last year's oil price drops will not affect yearly indices and we will have a 2.17% price increase on many purchases to contend with as well (VAT increase from 15% to 17.5%.)
Meanwhile, the government is still printing money to buy up its own debt, keeping interest rates at effectively zero, even contemplating negative deposit rates.
|Wednesday, September 16th, 2009|
i've only just discovered this community tonight and thought I'd join! I work for a debt advice charity called Consumer Credit Counselling Service.
We're a free and confidential service for anyone struggling with debt, no matter what their income or living status.
If any of you are finding it hard balancing things like credit cards, loans, overdrafts, etc or you're struggling with your mortgage, GIVE US A CALL
if you've being harrassed by collection agencies or creditors, or want to know more about token payments to non-priority consumer debts, GIVE US A CALL.
If you've wracked up charges with your bank, and as soon as your money goes in it gets swallowed up, GIVE US A CALL.
If you have a company all to eager to throw you into an IVA or a Debt Management Plan for a hefty fee each month, FOR THE LOVE OF GOD, GIVE US A CALL!
We're open monday to friday, 8am to 8pm. Anything you tell us is in strict confidence and will not affect your credit rating. We're here to give honest, impartial advice and assistance where needed.
Call on 0800 138 1111
we also offer a completely anonymous service called debt Remedy on our website - www.cccs.co.uk
xxx Current Mood: hopeful
|Saturday, September 12th, 2009|
I posted here back in March
saying that I thought there would be a suckers' rally in house prices. This happened:
I think we are nearing the point where this will turn back negative again, with the actual turning point (in real terms) forming around figures released in October/November.
The last few months have seen the predictable pleasant effects of printing money then spending it. But we're closing in on the unpleasant after-effects where the prices of essential goods and services increase much faster than wages.
Printing money is not unlike pissing yourself - first you get a nice warm sense of relief, but you soon realise that you are a lot worse off for having done it.
|Thursday, July 9th, 2009|
I am hugely surprised that they have not expanded QE.
The Bank of England has used £112bn of the £125bn at their disposal. They have been purchasing around £6.5bn per week for the past couple of months. This means that if they carried on at the same rate they would only have enough funds left for the next 2 weeks worth of purchases.BOE released this statement
The MPC announced earlier today that it would maintain the target for its asset
purchases at Stg 125 billion and review the scale of the programme again at its
August meeting. In order to ensure that purchases of private sector assets can
continue to be financed through the creation of central bank reserves over the
next month, the Bank is reducing the size of the individual gilt purchase
auctions. This means that gilt purchase operations are expected to continue
until 29 July, one week before the MPC's next meeting.
As I said before, there simply isn't the money there to absorb all the debt that the government is issuing, QE is needed for there not to be gilt auction failures.
The next month is going to get interesting. Financial institutions are bailing and the BOE wont be there to pick up the slack to the same degree...
And the frigging banks are at it again...........
Well the papers claim that the reccession is over (Well hinting at it) lying MoFo's, so in a bid to make sure Nationwide Customers are Screwed down to that lender for the next 25-30 years, Nationwide offers existing customers in Neg equity a 125% mortgage
, I can only assume some people will never learn.
We are still paying 50-75% over the odds on our homes in blighty, and this bunch of greedy clowns wants us to pay more. The country is lost, our relationship with lenders is already strained, I can only assume Nationwide is looking at promoting it's Estate agency division in 3 years time when these fools all get into strife again.
Then again, My suggestion would be for the bank to open a lettings division for such cases, as when all these homes are repo'd, the Rental price is often 2.5-3 times the Mortgage payments, and considering those who have "owned" their own home in the past tend to be less destructive than your average tenant........ Current Mood: contemplative
|Tuesday, July 7th, 2009|
Dead cat bounces can fool anyone, even "experts". The current unsustainable (and entirely predictable) bounce in house prices is a good example, but it applies for anything...
Recession is at an end, says leading economics thinktank
NIESR says that industrial output has risen for two consecutive months, having hit a nadir in March.
UK recession is not over, says NIESR
Economic recovery may be weaker and slower than previously hoped according to the National Institute of Economic and Social Research (NIESR), which last month said the British economy had started growing again.
How could we cope without this wonderfully prescient government-funded organisation?