UK Economy

Long, short, Bitcoin, forex - Plenty of alternate market disuccsion.
Post Reply
Archery1969
Posts: 3192
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

greenmark wrote:
Wed Nov 16, 2022 6:52 pm
Derek27 wrote:
Wed Nov 16, 2022 5:00 pm
greenmark wrote:
Wed Nov 16, 2022 4:41 pm

Which equates to desperation and the reasons for that would fill a thread on their own.
Some think people in dire straits are wasters and deserve to be there.
Some (like me) believe people in dire straits only need a bit of support from people who have done well in life to change their fortunes.
But I guess thats a bit too complex.
I understand what you mean, when I was really hard up, alcohol was my top priority, but I never pretended I didn't have enough for food. I was well aware that I was spending it on alcohol. But it is an audacity to invite a Sky reporter into your home, light up a cigarette and say you haven't got enough money for food and gas. :)
But everything you've posted suggests to me that you're smart and can navigate life quite well. There are people that are not capable of that without support. In the current world "support" means withdrawing benefits. I was involved as a client for 4 months and walked away because it was basically "sort yourself out or we will withdraw you benefits". I've only been on benefits for less than year over 42 years. The notion that our benefit system is an easy life is so staggeringly stupid. If anyone thinks it is easy, go try it for yourself.
Isn't it easier todo now after Covid as you can just say you got long Covid which is very difficult to dissprove. Maybe that's one reason why since 2020 the number of people 16 to 35 economically inactive is over 3 million. I said one reason, so not in every case but i bet its a very high percentage.
greenmark
Posts: 4948
Joined: Mon Jan 29, 2018 2:15 pm

Archery1969 wrote:
Wed Nov 16, 2022 7:11 pm
greenmark wrote:
Wed Nov 16, 2022 6:52 pm
Derek27 wrote:
Wed Nov 16, 2022 5:00 pm


I understand what you mean, when I was really hard up, alcohol was my top priority, but I never pretended I didn't have enough for food. I was well aware that I was spending it on alcohol. But it is an audacity to invite a Sky reporter into your home, light up a cigarette and say you haven't got enough money for food and gas. :)
But everything you've posted suggests to me that you're smart and can navigate life quite well. There are people that are not capable of that without support. In the current world "support" means withdrawing benefits. I was involved as a client for 4 months and walked away because it was basically "sort yourself out or we will withdraw you benefits". I've only been on benefits for less than year over 42 years. The notion that our benefit system is an easy life is so staggeringly stupid. If anyone thinks it is easy, go try it for yourself.
Isn't it easier todo now after Covid as you can just say you got long Covid which is very difficult to dissprove. Maybe that's one reason why since 2020 the number of people 16 to 35 economically inactive is over 3 million. I said one reason, so not in every case but i bet its a very high percentage.
Perhaps but part of that 'economically inactive' is people that have fallen (or have been pushed) out of the benefit system. These are the people I see sitting outside Tesco or on the streets, they don't count anymore,
Nobody, but nobody sits outside a store begging if they have an alternative.
User avatar
Archangel
Posts: 1987
Joined: Thu Jun 27, 2013 3:03 pm
Location: Polo Lounge, Beverly Hills Hotel

greenmark wrote:
Wed Nov 16, 2022 8:22 pm

Perhaps but part of that 'economically inactive' is people that have fallen (or have been pushed) out of the benefit system. These are the people I see sitting outside Tesco or on the streets, they don't count anymore,
Nobody, but nobody sits outside a store begging if they have an alternative.
Unfortunately many people in this country, particulary the right wing politicians and media, still view poverty as it was viewed in Victorian times, as a crime....
greenmark
Posts: 4948
Joined: Mon Jan 29, 2018 2:15 pm

Archangel wrote:
Wed Nov 16, 2022 8:27 pm
greenmark wrote:
Wed Nov 16, 2022 8:22 pm

Perhaps but part of that 'economically inactive' is people that have fallen (or have been pushed) out of the benefit system. These are the people I see sitting outside Tesco or on the streets, they don't count anymore,
Nobody, but nobody sits outside a store begging if they have an alternative.
Unfortunately many people in this country, particulary the right wing politicians and media, still view poverty as it was viewed in Victorian times, as a crime....
Left wing or right wing - I don't care. I;m sure we all see beggars now. It reminds me of the 80's. I would drop change in their receptacle and walk away thinking "Jeez, what a hard life and something should be done" and then something was done. What is happening (and has been happening for a while) is the vulnerable are being ditched.
Seriously, in a climate of delivery vans carrying advertising for new drivers, supermarkets advertising for recruits on their reciepts where is the common sense of not using what appear to be fit resourceful "beggars". Grrrrrrrr!!!!!
Archery1969
Posts: 3192
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

I do think some people seem to moan about nothing and have no idea what real hardship is.

My friend has a joint house income of £60k, everytime I see him he moans about energy costs and its the Governments fault and they should do more. Then I find out he went and bought a new BMW electric car. I think if he moans again I will just tell him to go and get another friend. Does my head in.
User avatar
Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Energy windfall tax, that the government previously didn't want, going up from 25 to 35%.
User avatar
Archangel
Posts: 1987
Joined: Thu Jun 27, 2013 3:03 pm
Location: Polo Lounge, Beverly Hills Hotel

The chancellor maintains that the problems the UK economy is currently facing are entirely due to global factors. And he did it with a straight face too !
Archery1969
Posts: 3192
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

Archangel wrote:
Thu Nov 17, 2022 12:12 pm
The chancellor maintains that the problems the UK economy is currently facing are entirely due to global factors. And he did it with a straight face too !
He may have a point to some degree as 1/3 of the worlds economies are expected to be in recession now or next year. Once the US is confirmed to be in recession then the shockwaves will reverberate around the world.
User avatar
Archangel
Posts: 1987
Joined: Thu Jun 27, 2013 3:03 pm
Location: Polo Lounge, Beverly Hills Hotel

Archery1969 wrote:
Thu Nov 17, 2022 12:56 pm
Archangel wrote:
Thu Nov 17, 2022 12:12 pm
The chancellor maintains that the problems the UK economy is currently facing are entirely due to global factors. And he did it with a straight face too !
He may have a point to some degree as 1/3 of the worlds economies are expected to be in recession now or next year. Once the US is confirmed to be in recession then the shockwaves will reverberate around the world.
Of course the global situation is a huge factor, but to suggest that the last Truss/ Kwarteng 'mini bidget' didnt contribute to make matters worse is just wrong
greenmark
Posts: 4948
Joined: Mon Jan 29, 2018 2:15 pm

Archangel wrote:
Thu Nov 17, 2022 1:20 pm
Archery1969 wrote:
Thu Nov 17, 2022 12:56 pm
Archangel wrote:
Thu Nov 17, 2022 12:12 pm
The chancellor maintains that the problems the UK economy is currently facing are entirely due to global factors. And he did it with a straight face too !
He may have a point to some degree as 1/3 of the worlds economies are expected to be in recession now or next year. Once the US is confirmed to be in recession then the shockwaves will reverberate around the world.
Of course the global situation is a huge factor, but to suggest that the last Truss/ Kwarteng 'mini bidget' didnt contribute to make matters worse is just wrong
Plus Brexit, plus he is conveniently forgetting who has been running the country for the last 13 years.
User avatar
Derek27
Posts: 23471
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Archery1969 wrote:
Thu Nov 17, 2022 12:56 pm
Archangel wrote:
Thu Nov 17, 2022 12:12 pm
The chancellor maintains that the problems the UK economy is currently facing are entirely due to global factors. And he did it with a straight face too !
He may have a point to some degree as 1/3 of the worlds economies are expected to be in recession now or next year. Once the US is confirmed to be in recession then the shockwaves will reverberate around the world.
Have the rest of the world's mortgages gone up £500 per month?

Just to rub salt into the wound, Truss claimed that she fixed the problems...by reversing everything she did!!

She didn't give a fuck about the £30 billion she cost the economy or the thousands struggling to pay their mortgage, or worse still, getting repossessed and made homeless!
greenmark
Posts: 4948
Joined: Mon Jan 29, 2018 2:15 pm

Derek27 wrote:
Thu Nov 17, 2022 1:54 pm
Archery1969 wrote:
Thu Nov 17, 2022 12:56 pm
Archangel wrote:
Thu Nov 17, 2022 12:12 pm
The chancellor maintains that the problems the UK economy is currently facing are entirely due to global factors. And he did it with a straight face too !
He may have a point to some degree as 1/3 of the worlds economies are expected to be in recession now or next year. Once the US is confirmed to be in recession then the shockwaves will reverberate around the world.
Have the rest of the world's mortgages gone up £500 per month?

Just to rub salt into the wound, Truss claimed that she fixed the problems...by reversing everything she did!!

She didn't give a fuck about the £30 billion she cost the economy or the thousands struggling to pay their mortgage, or worse still, getting repossessed and made homeless!
Perhaps the pair profited. It was the most bizarre political episode I can remember. Made you feel like common sense was being warped into just doing what the hell they liked. Thankfully common sense did prevail, but a lot of people were hurt by them. I don't think she should get that £115k, most employees have to navigate a probationary period before being entitled to benefits, like notice, pension, medical insurance.
She failed and quickly.
User avatar
Archangel
Posts: 1987
Joined: Thu Jun 27, 2013 3:03 pm
Location: Polo Lounge, Beverly Hills Hotel

greenmark wrote:
Thu Nov 17, 2022 2:22 pm
I don't think she should get that £115k, most employees have to navigate a probationary period before being entitled to benefits, like notice, pension, medical insurance.
She failed and quickly.
I think its fair to say she failed her probation !
greenmark
Posts: 4948
Joined: Mon Jan 29, 2018 2:15 pm

The former business secretary Jacob Rees-Mogg has said he is "particularly concerned" about tax rises when the economy is going into recession.

FFS how many indicators do you need before admitting you've F**ked up, Jesus!
Archery1969
Posts: 3192
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

Things are also bad in Germany and other European countries. I dont have a bloomberg account but the headline in the URL shows the context.

https://www.bloomberg.com/news/articles ... -ecb-hikes

And I dont have a guardian account either but the headline is:

"Eurozone inflation hits record high of 10.7%; UK mortgage approvals, credit card borrowing fall – as it happened"

And i dont have a fortune account either but again the URL shows the context:

https://fortune.com/2022/10/10/global-r ... n-stanley/

Headline:

"This debate to some extent is over.’ Major economies are already in a global recession, Morgan Stanley strategist says"
Post Reply

Return to “Trading Financial markets”