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Care to make a prediction for when the people of Somerset will rise up?Originally Posted by Taunton Blue Genie
I suspect Wales' will be among the last, if not the last, to remove themselves from their settees.
Five shillings was at one time often called a dollar in the UK. That was in the days when the pound was worth four US dollars. Now it's worth one dollar and 15 cents.
Pound falls to lowest level against dollar since 1985 - https://www.bbc.co.uk/news/business-62817391
Glad that we can agree on something!
(https://www.ccmb.co.uk/showthread.ph...50#post5337950)
Exactly, this is the nuance they seem to deliberately fail to understand
Agree completely. We can all see what is happening - that is not in dispute. The difference of opinion or mindset is around ‘why?’
Worrying times from FT :
Germany’s economy will shrink next year as soaring energy costs caused by Russia’s throttling of gas supplies reduce disposable income and consumers rein in their spending, according to a leading think-tank.
The Ifo think-tank in Munich warned that the recent surge in electricity and gas prices was “wreaking havoc” on the German economy and would lead to a 0.3 per cent decline in gross domestic product next year — a marked deterioration from an estimate of 3.7 per cent growth, made in June.
The main cause was the expected “decline in private consumer spending” triggered by energy suppliers “markedly adjusting their electricity and gas prices in the light of high procurement costs, especially at the beginning of 2023,” said Ifo.
The downgrade underlines the mood of mounting pessimism about the eurozone’s largest economy.
Last week, the Kiel Institute for the World Economy, another think-tank, slashed its forecast for German GDP next year by 4 percentage points to minus 0.7 per cent, warning: “With the high import prices for energy, an economic avalanche is rolling towards Germany.”
German deputy finance minister Florian Toncar on Monday warned of an “increasing risk of stagflation” in the country, telling the VVW insurance sector publication: “We are experiencing supply-chain problems, production bottlenecks and price increases the likes of which we haven’t seen in decades.”
The government in Berlin recently announced a €65bn relief package to cushion the impact of the energy crisis on households, but Ifo said this would “fall far short of offsetting” the blow to household disposable income, which it predicted would drop sharply.
German inflation would average 9.3 per cent next year, up from 8.1 per cent this year, said Ifo, predicting consumer price growth would peak at 11 per cent in the first quarter, which would be a 70-year high.
Contrary to the video's title, we can see it's a deliberate and highly organised economic demolition.
Here's another element of the take down.
Massive rail strike next week could deal another blow to America’s economy - https://edition.cnn.com/2022/09/09/e...ike/index.html
- The looming possibility of a strike by unions representing more than 90,000 workers at the nation’s freight railroads has businesses nationwide worried. The unions are poised to go on strike on September 16, a move that could bring nearly 30% of the nation’s freight to a grinding halt, according to data from the Bureau of Transportation Statistics. -
How a railroad strike could send food prices soaring - https://thehill.com/policy/3636564-h...rices-soaring/
In a country as educated, technologically capable and civilised as Germany is it takes a lot of time and effort to make things collapse the way they are with virtually no pushback.
Ditto in the UK, US, France, etc, by a process of decades of relentless dumbing-down, undermining the nuclear family, ensuring the easy availability of drugs to weaken communities and society aided with the importation of millions under the guise of cultural enrichment, the offshoring of industries, accumulation of humongous debts, abortion and divorce on demand, the promotion of feminism and normalising arse banditry and degenerate porn just a few mouse clicks away.
🇩🇪"We have the stupidest government in Europe"
— Seeji Sundarakshan (@Sseeji) September 9, 2022
Member of the German Parliament (Bundestag) Sarah Wagenknecht demanded the lifting of anti-Russian sanctions & the resignation of Deputy Prime Minister Habek.
She stated that Germany would not be able to do without Russian energy⤵️ pic.twitter.com/H4s7akN4Nd
Trump made some outrageous claims about German energy at the UN — and the German delegation’s reaction was priceless pic.twitter.com/izpa2fKC3B
— NowThis (@nowthisnews) September 26, 2018
I know it's only a coincidence, but the WEF seem to be benefitting the most from Putin's actions, and without him I don't think the great reset would be possible.
If you know about her background it's no surprise that Sarah Wagenknecht takes such a stance on Russia.
The German government appeared hell bent upon committing economic suicide since the February day Russia invaded Ukraine when they decided it was a great idea to place sanctions on Russia - their primary energy supplier.
Klaus Schwab boasted on camera how his WEF organisation "penetrate the cabinets" (with their puppets) and it seems for all the world the German cabinet has been gang-banged to the max.
STICK A FORK IN IT: Latest Inflation Numbers Show Germany’s Economy Is Cratering.
Inflation is sinking the largest economy in Europe. https://www.thegatewaypundit.com/202...omy-cratering/
Peak #inflation? Not in #Germany! German Consumer Prices (CPI) are likely to rise further after Producer Prices (PPI) increased by almost 46% in August, the strongest increase since 1949. pic.twitter.com/AKv5ofYzCn
— Holger Zschaepitz (@Schuldensuehner) September 20, 2022
⚠️BREAKING:
— Investing.com (@Investingcom) September 20, 2022
*GERMANY AUGUST PPI INFLATION JUMPS TO RECORD HIGH 45.8% Y/Y; EST. 37.1%
🇩🇪🇩🇪 pic.twitter.com/CwGbjsDNuD
It looks like the Italian government, who's also sanctioning Russia, is working almost as assiduously to wreck their economy and citizens' standard of living as the German WEF crew are.
Gas bill of 730 thousand euros, San Patrignano risks closure - https://newsrnd.com/news/2022-09-19-...ybeQCELbi.html
Holland and France are also among the favourites to become the first EU economy to implode. Germany remains odds-on to be declared the winner as it's the only one planning to place troops on their streets to help maintain order beginning on October 1st.
Germany and Italy have a rival to become the first EU country to go belly up - Holland.
‘Shocking’ inflation numbers
The Dutch annual rate of inflation soared to a record 17.1% in September, when calculated according to European methods, national statistics agency CBS said on Friday. ‘I was shocked, it is terrible,’ said Minister of Finance Sigrid Kaag told the NOS. In August the rate reached 13.7%, and that too was a record. ‘You wonder how bad it can get,’ said Micky Adriaansens, Minister of Economic Affairs said.
Read more: https://www.dutchnews.nl/news/2022/0...opean-figures/
UK at significant risk of gas shortages this winter, warns energy regulator - https://www.bbc.com/news/business-63118574
Mortgage rates rise sharply as squeeze tightens - https://www.bbc.com/news/business-63119047
Saudi let it be known today they plan to cut their crude oil output by a million barrels per day. WTI Crude increased in price by 5% within hours. That's done Biden no favours with him facing midterm elections on November 8th.
What (most likely) the Yanks did to those gas pipelines is set to be the main driver of food shortages and ever increasing inflation for what is available and in pretty much a higher cost for everything else due to a domino effect in the coming months.
Farmers warn of winter food shortages in Europe - https://www.ft.com/content/8016d3a2-...f-678d5f2aea22
EU farmers warn of food shortages – Reuters
- Vegetable producers across northern and western Europe are considering halting operations, thus further threatening food supplies, as a result of the energy crisis hitting the continent, Reuters reported this week.
According to the report, skyrocketing power and gas prices are the biggest cost facing vegetable farmers employing greenhouse cultivation. Two French farmers renewing their electricity contracts for 2023 told the media outlet they were being quoted prices more than ten times higher than in 2021. -
Read more - - https://www.rt.com/business/563314-e...tages-warning/
It was one million barrels a day cut earlier in the week then they doubled it. Crude oil prices have been rising since. They appear to be heading towards $100 a barrel again rather than $70 before these announcements. https://oilprice.com/
OPEC+ announces 2 million-barrel production cut - https://thehill.com/policy/energy-en...roduction-cut/
Crude oil prices continue their climb to $100 dollars per barrel. WTI is at $92 and Brent Crude's at $97, both are up around 4% today.
the once proud German manufacturing economy taking a hammering over the last 24 hours
125 years after foundation: German construction company Wolff Hoch- und Ingenieurbau insolvent
130 years after foundation: German confectionery manufacturer Bodeta insolvent.
156 years after foundation: German automotive supplier Borgers insolvent
170 years after foundation: German soap maker Kappus insolvent.
not looking good is it .................
It's difficult to summarize what's happening across global economies in a few succinct phrases, but here goes : Before, but mostly since 2008 western economies have been running on hot air. An illusion of relative prosperity built upon very little substance. Zero interest rates, close to zero inflation, governments have - not £billions - but £trillions of debt which not only cannot be reduced but were costing the UK £83 billion pa - before the latest 'crisis'. Even folk that don't buy into this must by now get a sense that something rather grim is developing around us..
Germany remains the fave to be the first EU economy to implode, in addition to freezing their knackers off, before winter 2022-2023 is over. Hell, it may go tits up before winter starts at this rate and their Turkish population will decamp to the Calais shoreline with dinghies in hand. Although, Truss and her WEF'ers seem determined to make Blighty an undesirable bolthole.
125 years after foundation: German construction company Wolff Hoch and Ingenieurbau insolvent. 130 years after foundation: German confectionery manufacturer Bodeta insolvent. 156 years after foundation: German automotive supplier Borgers insolvent. 170 years after foundation: German soap maker Kappus insolvent.
"They're not insolvent then, they just stop producing," the German minister of economics and member of the Green Party, Robert Habeck, said in September. (He sounds dumb enough to be a member of the British cabinet.)
170 Years After Foundation: German Soap Maker Kappus Insolvent - https://www.latestly.com/socially/wo...v-4349067.html
125 years after foundingConstruction company Wolff Hoch- und Ingenieurbau is insolvent - https://www.focus.de/finanzen/news/1...166201536.html
130 years after it was founded: German confectionery manufacturer files for bankruptcy - https://gettotext.com/130-years-afte...or-bankruptcy/
Here comes ze bugz.
Major UK Supermarket Chain Planning To Sell Bugs As Food To Help Poor People Through Winter
The Daily Mail reports that Aldi is considering stocking ‘edible’ bugs and providing recipe kits for parents to prepare worms and crickets for their hungry children.
Potential products in the range include ‘sustainable’ cricket burgers, as well as ‘nuggets’ and ‘mince’.
More: https://www.zerohedge.com/geopolitic...through-winter
Major UK Supermarket Chain Planning To Sell Bugs As Food To Help Poor People Through Winter https://t.co/wntaz85sO3
— zerohedge (@zerohedge) October 21, 2022
UN Food Director Warns of 'Hell on Earth' Food Shortages 2023
— Wittgenstein (@backtolife_2023) October 21, 2022
Source: Bloomberg Quicktakehttps://t.co/6RuRPOSTvJ pic.twitter.com/LtoNx1EPWr
Cost of a cup of tea rising as food prices jump.
- The cost of making a cup of tea went up significantly as food prices continued to rise at record rates in October, a retail trade body has said.
Costs for tea bags, milk and sugar all rose as food price inflation jumped from 10.6% last month to 11.6%, according to the British Retail Consortium.
The hike in shop prices was partly due to higher costs for ingredients and energy.
Worker shortages also pushed up prices.
The war in Ukraine has seen energy and food prices around the world increase. The conflict has disrupted supplies from both Russia and Ukraine, which are major exporters of goods such as sunflower oil, wheat, and fertiliser. -
More: https://www.bbc.com/news/business-63474304
What is the UK inflation rate and why is the cost of living rising?
- The cost of energy is a key reason why things are getting more expensive.
Oil and gas prices increased because they were in greater demand as life got back to normal after Covid. At the same time, the war in Ukraine meant less was available from Russia, putting further pressure on prices.
The war in Ukraine also led to food prices going up, by reducing the amount of grain available.
The price of food and non-alcoholic drinks rose by 14.6% in the year to September, reaching its highest level since April 1980. -
More: https://www.bbc.com/news/business-12196322
more of the same this week
France's glass manufacturer Duralex suspends operation for 5 months due to surging electricity bills.
"Our bill (for gas and electricity) has gone from 3 to 13 million euros per year, or 46% of our turnover," the CEO of Duralex said.
Eurozone manufacturing falls to lowest level since early 2020
Turkey's annual inflation rate rose to 85.5% in October, the highest in 25 years.
U.S. Federal Reserve hikes rates by 0.75% to 4.00% — the highest level since January 2008.
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