debtserf
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Zero interest rates, government ‘help to buy’, mass immigration; the UK has found all sorts of ways to prolong this ponzi. So much so that the thick as two short planks estate agent who lives next door to me is telling me that prices will never come down, this time is different, it’s a sure thing, yadda yadda yadda.
Irony is, she cant actually afford to buy the poorly-built shoebox she rents on her non-existent commission because, in her own words, the market is dead. Gee, I wonder why. This is a very common level of stupid in this country, especially here in Londonistan. Greed breeds envy, few understand what is really happening, but everyone still thinks they will be a winner in the housing lottery.
You beat me to it JD, was most disappointed to find TAE not on the list of fake news purveyors.
C’mon Raul, sort it out, are you real fake news or fake fake news? Or have you been pointing out fake news all this time and the msm are just a bit slow to catch on?
Ok, let’s susend disbelief for a second: assuming the pro-HRC crowd is expressing an honest – rather than bought and paid for – opinion about the options available…even then, have you all lost your fucking minds?
Are you so immersed in this miasma of endless propaganda that you cannot see what s staring you square n the face?
Broadreach; you appeal for not making this any harder than it already will be…what exactly is gonna be worse than ww3? Please do elaborate. Because Trump aint selling moar war afaik. And by divisive you mean calling out the politically correct cultural marxist soros-funded special snowflake activist trisexual sjw astroturf sock puppetry for the utter bullshit that it is, then he’s doing you all a favour. Wake the fuck up.
Please God…make this end soon.
“long committed to broad liberal values, inclusion among them; focused, hard-working, tough-as-nails”
Too funny these liberal platitudes. How desperate and transparent this last-gasp full court press to win over hearts and minds. Would love to know how long you Hillary cheerleaders have been registered and posting on here.
Good grief, the Shills 4 Hills are out in force today. She’s not that bad?!? Seriously dude, wtf?
How supine, and ovine, must Americans be to still be allowing this candidate to be on the ballot after everything that has come to light?
Raul; you are right, the damage this toxc campaign has wreaked on the office and the country is beyond repair.
The central planners clearly have no idea what they are doing – other than making things up as they go along. All the financial trickery and monetary machinations of the last 8 years are sowing the seebds of the next crisis. The longer this continues, the worse the eventual denouement will be.
All the while confidence is being slowly eroded. Pensions are being decimated. Savings rendered worthless, even pointless. The disconnects and the dissonance are growing more deafening by the day.
I believe this issue with credit (no longer capital) is inextricably linked to the problems with energy that Nicole has written about previously, and when the environmental degradation and resource depletion really begin to kick in in earnest, then it will be game over.
The Hanjin collapse is a very big deal; once the global trade routes and supply chains falter, the globalist empire will inevitably follow.
But then you already know that.
Pass the popcorn, this could be quite a show.
A total shill; sure, banning cash would be a big help – to the bankocrats. But it’s safer, cleaner, healthier, leaner, a total no-brainer. Unless you are a drug dealing tax avoiding terrorist of course.
Let’s just say it is inevitable. But it will prove to be a hard sell, and he is very much labouring the point. The arguments are hollow, and the agenda is woefully transparent. Same old same old shite. His book might as well be called ‘why slavery is good for ypu’, but i am sure that the media will be give it plenty of hype, claiming it is just what we need to kickstart the economy or somesuch drivel.
Sad thing is that there are many overeducated and underinformed people of a certain age who will be completely taken in by this hogwash.
This was more ABH than hardtalk. It’s good to see that our bbc licence fee is being well spent.
Comedy gold from the interviewer; Schauble is an economic genius? Wow. Sure, just ask Greece! That and pretty much everything else he said only illustrated how economically illiterate this guy is. Yeah, Australia’s fine. Norway, Canada, Sweden, all doing great. All except Britain, that is – they will pay for their insolence!
When the next crash goes down this muppet will probably claim that no-one could possibly have seen it coming.
Jamesinlondon,
I don’t think Raul meant that Britain cant stand on its on feet, rather he is parsing the media claptrap and propaganda to illustrate the hollowness of these arguments. The EU cannot really allow the UK to stand on its own, after all, what kind of message would that send out to the other ex-nations under its yoke!
As Schulz said, it’s not the EU philosophy that the sheep can decide their own fate. That’s solely the preserve of the wolves and petty apparatchiks.
Ultimately, the vested interests will do everything in their power to bring the UK to its knees one way or another if the proles get too uppity and insist on leaving the plantation. If that means scorched economic earth, then so be it. Whatever it takes.
Dr Diablo;
“Post-oil economy” sounds like a glaring oxymoron to me.
Since oil is the unguent that props up the dollar complex and exponentially rehypothecated financial system, any economy after oil will be more mad max than mad men.
But yeah, allotments FTW. S’why i have me two,
Where to begin on this one…
Last friday night I went out to the pubs and clubs (outskirts of London) to gauge the reaction to the result, and what I witnessed left me mildly depressed and unable to sleep! (And that wasn’t just because of all the tequila, although it probbly didn’t help).
The level of ignorance that I encountered around the subject was jaw-dropping. Largely from the under 30 crowd. A lot of miserable people out; a lot wailing and bemoaning, and gnashing of teeth.
The best response by far was from a semi-naked inebriated 20 year old; “I voted In, because only c**ts vote Leave”. And there you have it. In a nutshell. Anyone with more than half a brain cell to rub together is obviously a Massive C**t to the well-informed sagacious sexpots of suburbia. No further explanation or reasoning required.
The EU migrant worker contingent – of which there are many in my town – were to a man and woman also very upset about the result, for obvious reasons. It can’t be easy for them to learn that the only reasonably safe refuge they have found from the economic meltdown in southern Europe turns out to be not that keen on the tsunami of economic migrants that is now seriously impacting their society. Their insecurity is now compounded; they have no future and way back home, and cannot now see a way forward here either.
The Polish contingent were far more sanguine. Perhaps they see an opportunity to run things themselves now that Cameron doesn’t really fancy ‘doing the hard shit’. They have always found opportunity in the jobs the English don’t have the stomach for. Who knows, they might even do a better job!
But perhaps the funniest response was from a well-meaning but utterly clueless native, talking about how we can now “transition to a post-oil economy”. You touch on this kind of vacuous thinking above, and for these people there really is no hope. They are probably in for the rudest awakening when TS really HTF if they believe in such fairy tales.
To cut a long story short, there is no end to the ways in which people seek to comfort, reassure and explain all the uncertainty now swirling around them. Some will turn on ‘the old’ for ‘selling out their futures’ becuse they now see that they may never enjoy the standards of living of their parents and grandparents. Others have fully bought into the marxist lullabies of the EU apparatchiks, and are marching forward over the cliff of EUtopianism.
Many just prefer to get drunk and try to blot out the grim realities that are starting to envelop us all. Most don’t think that a Greece could happen here. They are certain of that.
Nowadays, I’m not so sure.
Raul,
You wrote “be afraid” above the UK property article…
It seems like fear is the main driver for these vertiginous increases in house prices that we are seeing in these countries. Fear of bail-ins, fear of devaluation, fear about the real health of the financial markets. In the UK one of the main planks of the Brexit Project Fear is that it will hit house prices. That is meant to send all homeowners rushing to vote to stay in, yet the way things are developing elsewhere in the economy, property is probably the premier safe haven right now anyway.
Absent an increase in interest rates – which is about as likely as Jeremy Corbyn receiving favourable press coverage – these price increases in the wealthy areas will not reverse. They cannot be allowed to reverse. There is simply too much at stake to allow that to happen. The government has already guaranteed price support with their loan schemes and other wheezes.
Or am i missing something here?
But, but, we can just ‘shrug off’ this China syndrome. It is the benighted elsewhere, apart from us somehow. The fallout will never affect us.
>>The yuan devaluation tells us the era of cheap credit is now over<<
How so? Mass default? If there is zero demand for credit, won’t rates just stay at zombie zero forever?
You should post more often xingu; that was some impassioned declamation! Have you read ‘They thought they were free’ by Milton Meyer? That might help explain how a society acquiesces to fascism. (slowly at first, then quickly)
As was Raul’s poignant essay. Nailed it again. It may be bleak, it may be unrelenting, but it’s sadly true. Let’s not beat around the bush. Such unvarnished truth can never be uttered in the vacuous mainstream, and this is why i find myself coming back here.
I’m listening to Fela singing about Sorrow Tears & Blood, and see that nothing has changed. The weak and the meek will bow, and the strong will be broken. We are all Nigerian. We are all African.
Action must replace despair if we are to survive.
The Tories are revelling in their triumph right now – the audacity of hype – but could this vicory prove to be the acme of Cameron’s reign?
Unopposed, the Bullingdon Bully Boys Club could be an even more overbearing, hubristic bunch than before. It can only go downhill from here. Austerity is set to deepen, and despite all the ‘one nation’ rhetoric, the UK economy is a still a mirage built on debt, teetering on the edge of recession.
It’s not news, it’s just infotainment; warporn and ‘celebrity’ derrieres.
That’s obviously where you’re going wrong Raul; you need mo’ big butts! ¬)
Crackonomics seems to be the new paradigm; another story on Zerohedge a couple of weeks back was about Douglas McWilliams, the British ‘world leading economist’ who was allegedly filmed puffing on a crackpipe recently, after having been cautioned for assaulting a prostitute.
Since the UK recently improved its GDP by factoring in drugs and prostitution, maybe McWilliams was just doing his bit to improve the economy. If QE is monetary crack, then the addicted economies’ teeth have already fallen out, and they’re doing the shmoney dance as they light the next rock, oblivious to the damage being caused. They are having to hit the pipe at ever more frequent intervals, as the effects wear off quicker the more they QEase down at the central bank drug den.
OD can only be a matter of time, as the vital organs start to deteriorate and the user becomes more aggressive and paranoid.
@chris1948: sounds like you have an agenda to grind.
You only have to read Zbig Brzezinski’s The Grand Chessboard to understand what the Ukraine war is all about:
“Geopolitical pivots are the states whose importance is derived not from their power and motivation but rather from their sensitive location… which in some cases gives them a special role in either defining access to important areas or in denying resources to a significant player.”
“Ukraine, Azerbaijan, South Korea, Turkey and Iran play the role of critically important geopolitical pivots.”
Brzezinski wrote that Eurasia is “the chessboard on which the struggle for global primacy continues to be played,” and that “it is imperative that no Eurasian challenger emerges, capable of dominating Eurasia and thus also of challenging America.”
Even German leaders are growing increasingly uneasy about the viciousness of the Nuland doctrine that is curently playing out over there. The EU has bigger problems to contend with than assuming the burden of the failed Ukranian state.
