In the news

Saving is nearly completely pointless atm and with global markets also not doing so great, is there another crash incoming?

Say Brexit goes completely tits-up next year, then what?

Hyperinflation and high rates, or low rates, and a fire sale with houses and assets being bought up for pennies?

Panic at the disco!

almost nowhere to go in terms of cutting interest rates.

negative rates

https://youtu.be/hmFqRpGL1T8

I'll get the glitter platforms! :)

It is hard to plan with panic, unless like JRMs dad and others panic is exactly good for your business model :/

https://www.vice.com/en_us/article/8848g5/government-agency-warns-global-oil-industry-is-on-the-brink-of-a-meltdown

The plateauing of conventional crude oil production in January 2005
was one of the triggers of events leading to the 2008 global financial
crash, according to the report. As debt built-up in the subprime
mortgage sector, the crude oil plateau drove up the underlying energy
costs for the entire economy making that debt more difficult to
repay—and eventually resulting in catastrophic defaults. The report
warns that “unresolved” dynamics in the global energy system were only
temporarily relieved due to "Quantitative Easing"—the creation of new
money by central banks. A correction is now overdue, it warns.

The report says we are not running out of oil—vast reserves exist—but
says that it is becoming uneconomical to exploit it. The plateauing of
crude oil production was “a decisive turning point for the industrial
ecosystem,” with demand shortfall being made up from liquid fuels
which are far more expensive and difficult to extract—namely,
unconventional oil sources like crude oil from deep offshore sources,
oil sands, and especially shale oil (also known as "tight oil,"
extracted by fracking).

These sources require far more elaborate and expensive methods of
extraction, refining and processing than conventional crude mined
onshore, which has driven up costs of production and operations.

Yet the shift to more expensive sources of oil to sustain the global
economy, the report finds, is not only already undermining economic
growth, but likely to become unsustainable on its own terms. In short,
we have entered a new era of expensive energy that is likely to
trigger a long-term economic contraction.

So that budget....

Hast the fabled money tree been found after all?

They found a whole forest

#brexitbonus obvs

Agreed, I don't think it is looking good. Unless they stop doing the chronic short term thinking and really go for green new deals.

But what is one to do? If you have a job, should you go nuts and borrow now and get a house, or wait for it to really go wrong with lots of defaulting and a huge houseprice drop, at the risk of high interest rates/not being able to get a mortgage?

Wages are still lower in real terms compared to 2008, what is going to happen with yet another crash? Nothing to good perhaps...

My understanding is that with negative interest rates, the bank will basically pay me for using the fuck out of my overdraft.

That's my theory and I'm sticking to it.

In decent news, Weinstein's got 23 years. In the published notes, this from his own brother:

U deserve a lifetime achievement award for the sheer savagery and immorality and inhumanness, for the acts u have perpetrated. Oh I forgot. They were all consensual. Then what are u in rehab for? Sex addiction. Don’t think so. You wouldn’t have harassment, assault and rape charges u have now received, from 82 women for active consensual sex

https://www.theguardian.com/uk-news/2020/mar/11/lockerbie-bomber-conviction-may-have-been-miscarriage-of-justice

or wait for it to really go wrong with lots of defaulting and a huge houseprice drop

Been waiting for twenty years

Johnson seems to have aged about 10 years in the last week.

1 Attachment

where's his smug shit eating grin gone ?

I suppose he's realised that something is happening that he will be utterly fucked if he fails on. All his plans out of the window for now.

Looks a bit like Cameron, weirdly.

Not that weird is it? Probably distant cousins or something.

One might say he's looking a bit feverish

Equity apologise to millionaire nazi Lawrence Fox, the entire race equality committee of Equity resign in protest:

https://www.theguardian.com/world/2020/mar/13/equity-apology-laurence-fox-resignations

Govt are taking the opportunity to sneak in a statute of limitations for uniformed murderers and try to take us out of European convention on human rights.

Link?

https://www.theguardian.com/uk-news/2020/mar/18/bill-sets-five-year-limit-to-sue-uk-military-veterans-who-served-abroad?CMP=Share_iOSApp_Other

Thanks - what a time to try to push through blatantly political bills. Cunts.