Rising taxes

[infiniteConciously]

Just be happy that you'll still be around to pay taxes

definitely this. well said

 

[glasshouse]

HHmmm, cream , potatoes pasta ,eggs , meat flour butter , it all looks like a bit of comfort eating to me ,and possibly thats all some have to look forward to ?
Oh and in a Father Jack way - Drink !!!!
The UK is reasonably placed to ride this out unlike some other debt ridden countries? Where can they borrow the money from now , as someones already pointed out ? Maybe by making a deal with the devil ?

????

 

[oil barron]

People with savings will pay. Beware of hyper inflation.

 

[jackrussell101]

Who is boris going to hit to pay for this corona shambles?

The Bank of England's printing press.

 

[GeorgeK]

Hearing a lot about 'negative interest rates'. Charged for saving, paid to borrow, sounds like lunacy to me. A way of forcing bank reserves and people's savings into the economy, but creating asset bubbles and risky lending.
The mind boggles, what it would mean for farmers I have no idea

 

[Martin Holden]

I don’t know if the high street will get over this.in my local city Norwich some shops are empty,Debenhams are on the verge of bankruptcy,John Lewis may be a bit better but not much leaving the family owned jarrolds as the major store.chapelfield mall is owned by intu group and they owe billions and regularly make the news and I don’t know if they will survive.the castle mall is not much better.i don’t know where it will end.maybe our fine city centre will be housing and more flats in the next 10/15 years.
Nick...

Same for many cities and big towns Nick. I travel nationwide and apart from coffee and charity shops the old fashioned high streets are ghost towns. Unfortunately this lockdown is going to be another nail in the coffin as internet trading takes over. Their must be a use for the high street in the future but it’s not shopping as we knew it. Whether it be activities or something else I’m not sure. If I was I would be getting involved.

 

[Martin Holden]

T
The supermarkets are advising to use disposable 1 use carrier bags and people are wanting more produce shrink wrapped to protect from the virus

Ironic isn’t it?

 

[Steevo]

Hearing a lot about 'negative interest rates'. Charged for saving, paid to borrow, sounds like lunacy to me. A way of forcing bank reserves and people's savings into the economy, but creating asset bubbles and risky lending.
The mind boggles, what it would mean for farmers I have no idea

Sounds like it would just dig an even bigger hole - we got to where we got to with people spending beyond their means. Encouraging them to borrow more makes no sense at all.

 

[Goweresque]

Sounds like it would just dig an even bigger hole - we got to where we got to with people spending beyond their means. Encouraging them to borrow more makes no sense at all.

The solution that the powers that be have applied to every economic crisis since 1970 is 'More Debt'. Every recession, even if caused by too much bank lending going bad in the first place, is followed by increased debt accumulation, both public and private. Even the Great Financial Crash of 2008, which is a text book example of a crash caused by too much debt, has been 'solved' by everyone taking on even more debts, which are higher today than they were 12 years ago.There is no reason to suppose that the authorities will not try to repeat the medicine that they have successfully administered in the past.

To be fair to them they have no alternative. The fiat/debt money system we have must keep expanding ad infinitum, or it collapses entirely.

 

[Dr. Alkathene]

They have kicked the can so far up the cul de sac of more debt. Perhaps the price of not kicking the can further is greater than the price of going further up a dead end.

 

[infiniteConciously]

The fiat/debt money system we have must keep expanding ad infinitum, or it collapses entirely.

Totally agree with what you’ve said but Collapse entirely is not an option. I don’t even want to contemplate it. Let’s just live and pay the extortionate taxes please and hope there’s some young talented politicians coming through the system over the next decade that can save us from ourselves... after we get through this current scare.

Wars happen at the end of Fiat cycles. Big wars. We don’t want that... We’ve being doing cycles of gold -> fiat -> gold -> fiat for 100s of years now. Probably 1000s... Luckily out of 2008 recession bitcoin was born and it’s deflationary... so it’s deflationary insurance to the inflationary finance system but yeah China/S. Korea/Japan woke up to bitcoin a lot sooner then everywhere else. So that needs to be phased in super slowly or all the wealth will end up in one part of the world.

The other good thing about 08 was the baby boom... so once those boomers start working in 8 years time there’s hope yet for the U.K.!!!

neg interest rates aren’t that bad, you get paid to take loans out and encouraged to spend to keep the system ticking. Savers get hurt a lot but then they’ll start to look into other assets or safe havens. For their cash.

 

[graham99]

you guys have got your own trump card , look up the spiders web britains second empire , on you tube . and princes of the yen

 

[glasshouse]

Totally agree with what you’ve said but Collapse entirely is not an option. I don’t even want to contemplate it. Let’s just live and pay the extortionate taxes please and hope there’s some young talented politicians coming through the system over the next decade that can save us from ourselves... after we get through this current scare.

Wars happen at the end of Fiat cycles. Big wars. We don’t want that... We’ve being doing cycles of gold -> fiat -> gold -> fiat for 100s of years now. Probably 1000s... Luckily out of 2008 recession bitcoin was born and it’s deflationary... so it’s deflationary insurance to the inflationary finance system but yeah China/S. Korea/Japan woke up to bitcoin a lot sooner then everywhere else. So that needs to be phased in super slowly or all the wealth will end up in one part of the world.

The other good thing about 08 was the baby boom... so once those boomers start working in 8 years time there’s hope yet for the U.K.!!!

neg interest rates aren’t that bad, you get paid to take loans out and encouraged to spend to keep the system ticking. Savers get hurt a lot but then they’ll start to look into other assets or safe havens. For their cash.

Bitcoins the biggest con ever

 

[glasshouse]

Bailouts always go to the wrong people, ever since the first one, the slave owners bailout

 

[Goweresque]

Totally agree with what you’ve said but Collapse entirely is not an option. I don’t even want to contemplate it. Let’s just live and pay the extortionate taxes please and hope there’s some young talented politicians coming through the system over the next decade that can save us from ourselves... after we get through this current scare.

Collapse is never something people choose, but it comes eventually nonetheless. All human civilisations/empires eventually wither and die, and the current iteration of Western civilisation is no different. One day it will collapse and monetary collapse may will be the trigger. Any system of human organisation that lives so close to the edge as we do will eventually be tripped up by some unexpected event or another.

And we cannot expect a super-human politician to lead us out of this, because we get the politicians we vote for. The solution to our current woes would not be popular in the here and now, it would amount to a country voting to make itself poorer, in order to strengthen itself against a future collapse. Voters can't see that far down the line, they always vote for the freebies they are offered today, paid for by debts. It is in this way that democracy sows the seeds of its own destruction.

 

[DaveGrohl]

The solution that the powers that be have applied to every economic crisis since 1970 is 'More Debt'. Every recession, even if caused by too much bank lending going bad in the first place, is followed by increased debt accumulation, both public and private. Even the Great Financial Crash of 2008, which is a text book example of a crash caused by too much debt, has been 'solved' by everyone taking on even more debts, which are higher today than they were 12 years ago.There is no reason to suppose that the authorities will not try to repeat the medicine that they have successfully administered in the past.

To be fair to them they have no alternative. The fiat/debt money system we have must keep expanding ad infinitum, or it collapses entirely.

Collapse is never something people choose, but it comes eventually nonetheless. All human civilisations/empires eventually wither and die, and the current iteration of Western civilisation is no different. One day it will collapse and monetary collapse may will be the trigger. Any system of human organisation that lives so close to the edge as we do will eventually be tripped up by some unexpected event or another.

And we cannot expect a super-human politician to lead us out of this, because we get the politicians we vote for. The solution to our current woes would not be popular in the here and now, it would amount to a country voting to make itself poorer, in order to strengthen itself against a future collapse. Voters can't see that far down the line, they always vote for the freebies they are offered today, paid for by debts. It is in this way that democracy sows the seeds of its own destruction.

Can't like these posts enough.

 

[SilliamWhale]

The virus could potentially save the country a fortune.

It will wipe out a lot of older, weak people with existing conditions that could have bounced around the healthcare system for years. Will also save paying for pensions and keeping these people in nursing homes.

I don't think that many people are going to die from it as it stands.

 

[Tarw Coch]

I don't think that many people are going to die from it as it stands.

Large numbers, relatively low percentages.
The savings from those who unfortunately die won’t go far towards the cost of the pandemic.

 

[Northern territory]

True. I've often said that far from encouraging people to eat and drink healthily, the State should be encouraging people to smoke, drink and take drugs (which they'd legalised and taxed) so as to reduce the average life expectancy significantly, and raise as much money as possible from 'sin' taxes.

Social insurance schemes such as the NHS and pensions can only work when the ratio of payers-in to takers-out exceeds 3. Then there is always enough money coming in from workers to pay for the pensions and the sick. Once we all start living longer and that ratio drops below 3 we see the problems we have today - lack of funding for healthcare and old age.

I’ve said that for years about smokers. It’s a far less evil pursuit than drink or drugs as well.