SuperJail Warden
Gone Forever
+591|3148
The U.S. dollar is very strong right now. Strongest it has been since the 80's. Unemployment is 3ish%.

I understand that a strong dollar hurts exports and low unemployment causes labor cost to rise. But I can also understand how backwards it sounds to average people when they hear bankers say "the dollar is too strong. Unemployment needs to rise to tame inflation." People would almost be justified January 6ing the Federal Reverse if it purposefully pushes us into a recession in order to "tame inflation."
https://i.imgur.com/xsoGn9X.jpg
uziq
Member
+476|2880
it’s one of the designed quirks of the world system that everyone rallies to the dollar in times of instability. the US govt worked sedulously to create this state of affairs and geopolitical control.

the fed reserve can effectively print money infinitely and it’ll never really sink the ship.

and yet half of the american elite want to make insulin unaffordable and basic healthcare an expensive privilege. really make u think.

Last edited by uziq (2022-09-09 05:41:18)

uziq
Member
+476|2880
unnamednewbie13
Moderator
+1,998|6200|USA

It's only bad when Martha Stewart does it.
pirana6
Go Cougs!
+660|5719|Washington St.
It's only bad when "everyone else" does it. aka "Fuck you I got mine", or "Rules for thee but not for me", or etc etc
Cybargs
Moderated
+2,277|6144

uziq wrote:

https://twitter.com/chrisjjosephs/status/1570491404153159680?s=46&t=v6MB6cmuGCEgiVEQqApVEQ

wooooo boy.
apparently NYT was using unusual whales as a source, having them give interviews etc and not citing them they do the lords work exposing the trades.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
uziq
Member
+476|2880
https://pbs.twimg.com/media/FcynnTnXkAE_9VW?format=jpg&name=large

ah, the fruits of neoliberalism. the UK and US are so unequal that, whilst being notionally very rich countries, their poorest are worse off than those in places like slovenia.

the UK is essentially a poor country with a few rich people. the USA is basically brazil but who lucked out lending money to an imploding european world order.
uziq
Member
+476|2880
https://www.theguardian.com/business/20 … adam-tooze

more gospel from the Book of Tooze. i’ve mentioned him here recently. seems he’s a lodestar for all sorts of analysis and thinking at the moment.

The chances of a global recession were now “extremely severe”, as central banks in many parts of the world raise interest rates to curb inflation.

“It’s the single most dramatic simultaneous tightening of monetary policy ever,” Tooze said.

The winding back of Covid support packages by governments as the pandemic tide recedes also meant fiscal brakes were being tapped.

“US fiscal policy right now is massively contractionary,” Tooze said. “It’s a 4.5% of GDP negative drag.”

[…]
One source of support for the market might also be less forthcoming in the future.

The surge in both Chinese students and property buying in Australia, US and elsewhere, had partly been a “capital flight story”, he says. Buying a flat to provide accommodation while studying was one way to get money out of China.
how ironic that aussies are dependent on the chinese, in more ways than one, whilst people like dilbert continually call for war with them. the single example of the entire aussie university system collapsing during china’s covid shutdown was a canary in the mine for your over-dependency on their capital flight.
uziq
Member
+476|2880
tories abolished the top rate of tax.

we are really trying this trickle down thing a full 50 years after it was first mis-sold to us for a fiver.

even bloody biden and the wall street democrats are explicitly rubbishing the entire idea. that’s an impressive feat.

the £ at its lowest value in 40 years. even when i’m living abroad the conservatives find a way to fuck me in the ass. they’re truly a very special breed.
Cybargs
Moderated
+2,277|6144
lmao the pound hahaha
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
uziq
Member
+476|2880
the euro is doing even worse against the dollar.

the feds’ fiscal policy is going to fuck a lot of currencies even without our homespun tory shitfuck.

at least the UK’s currency is shored up well internationally. and it’s not like we have huge borrowing in the dollar or any other foreign currency. the £ is still the de facto second currency behind the $.

let’s hope someone coups Xi and Putin before 1/2 the world population de-dollarises their energy imports/exports. fiscal chaos on the horizon boys.
Cybargs
Moderated
+2,277|6144
pound is potentially going to get way worst cos of the dumbest government known to man. yeah lets subsidise energy companies when theyre making record profits. hope she can sell some pork in beijing.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
Dilbert_X
The X stands for
+1,786|5534|eXtreme to the maX

uziq wrote:

the £ at its lowest value in 40 years. even when i’m living abroad the conservatives find a way to fuck me in the ass. they’re truly a very special breed.
You just got a huge tax cut what are you talking about.

at least the UK’s currency is shored up well internationally
Ha ha ha

the £ is still the de facto second currency behind the $.
LMAO
Русский военный корабль, иди на хуй!
Dilbert_X
The X stands for
+1,786|5534|eXtreme to the maX

Cybargs wrote:

pound is potentially going to get way worst cos of the dumbest government known to man. yeah lets subsidise energy companies when theyre making record profits. hope she can sell some pork in beijing.
Its amazing really, Britain has had a complete shit show of conservative, and Labour, govts since forever now.
Literally all they do is use their position in govt to divert taxpayer money to their chums and line up a lucrative career for themselves when they leave office.
Johnson successfully leveraged Brexit and Covid, Blair leveraged the gulf war. Their heads should be on pikes.

Literally none of them actually give a shit about the country.
Русский военный корабль, иди на хуй!
uziq
Member
+476|2880
what is the second currency? china is the biggest house of cards of them all. europe is one debt crisis away from dissolving.

the UK’s foreign profile is pretty safe economically. currencies don’t crash when you’re widely invested internationally using said currency. we are not about to enter another east asian IMF crisis. we aren’t exposed to fluctuations in the dollar value or federal interest rate quite so much. my original comment is more or less on the mark.

how did i get a tax cut? i am freelance and only jn the top bracket on a pro rata calculation. do you really mean a 1% tax cut is an improvement on living standards?

i’d rather be averagely wealthy in a country with a healthy civic culture than absurdly rich in a country that is in every public sense ailing and deprived. who the fuck even are these people calling for bankers’ bonuses to be uncapped?

even joe biden shot down neoliberalism. i just can’t believe a bunch of hayek society halfwits are pushing unreconstructed trickle down on us again. the only way i can comprehend it is as a cynical cash-and-grab by a tory party that know they’re going to have to spend the next 5 years in the wilderness reconstructing their party.

Last edited by uziq (2022-09-25 02:55:46)

Cybargs
Moderated
+2,277|6144
how would UK tax cuts effect uzique whose working in korea???

edit: @uncapped banker bonuses: top kek argument aobut "theyll end up paying more tax on it!" do the bonus cap impact hedge funds or asset managers, or is just the banks? btw i fucking hate bonuses, too discretionary just make it part of salary PLS

Last edited by Cybargs (2022-09-25 03:10:34)

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Dilbert_X
The X stands for
+1,786|5534|eXtreme to the maX

uziq wrote:

what is the second currency? china is the biggest house of cards of them all. europe is one debt crisis away from dissolving.
Seems like the pound has been level pegging with the yen since 1980, and was overtaken by the Euro around the same time.

So yeah, the pound has been ~equal third for over 40 years, soon to be overtaken by the renminbi, well done, you're right up to date.

https://en.wikipedia.org/wiki/Reserve_currency

i just can’t believe a bunch of hayek society halfwits are pushing unreconstructed trickle down on us again
Someone needs to have a serious word with the Oksferd hack dons who keep pushing this stuff.
the only way i can comprehend it is as a cynical cash-and-grab by a tory party that know they’re going to have to spend the next 5 years in the wilderness reconstructing their party.
But thats what every year of every tory govt has always been.
Русский военный корабль, иди на хуй!
uziq
Member
+476|2880
i pay tax in the UK too and have remained tax resident there. if i check out of UK inland revenue then it makes things way more hassle than it’s worth.
Cybargs
Moderated
+2,277|6144

uziq wrote:

i pay tax in the UK too and have remained tax resident there. if i check out of UK inland revenue then it makes things way more hassle than it’s worth.
ahhh kk and rip
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
uziq
Member
+476|2880

Dilbert_X wrote:

uziq wrote:

what is the second currency? china is the biggest house of cards of them all. europe is one debt crisis away from dissolving.
Seems like the pound has been level pegging with the yen since 1980, and was overtaken by the Euro around the same time.

So yeah, the pound has been ~equal third for over 40 years, soon to be overtaken by the renminbi, well done, you're right up to date.

https://en.wikipedia.org/wiki/Reserve_currency

i just can’t believe a bunch of hayek society halfwits are pushing unreconstructed trickle down on us again
Someone needs to have a serious word with the Oksferd hack dons who keep pushing this stuff.
the only way i can comprehend it is as a cynical cash-and-grab by a tory party that know they’re going to have to spend the next 5 years in the wilderness reconstructing their party.
But thats what every year of every tory govt has always been.
i literally just linked a tweet from one of liz truss’s classmates saying that neoliberal economics was not favoured even on her PPE course. change the record, you’re skipping and it’s boring.

lol china. go ahead and start using the chinese banking system and currency for your investments. you go first. they are one property bubble away from a once in a century meltdown.

i am citing paul krugman on currency crises. you know, the guy who invented the field. go and read a book. it might do you better than ranting endlessly about blair and johnson. you’re really not a very smart bloke.

Last edited by uziq (2022-09-25 03:16:25)

Dilbert_X
The X stands for
+1,786|5534|eXtreme to the maX
But you thought the GBP was the second currency when currently its the fourth.

However smart you think you are, and you're not, you're ignorant.
Русский военный корабль, иди на хуй!
Dilbert_X
The X stands for
+1,786|5534|eXtreme to the maX
I think the best part of this is Truss planning to boost immigration to kick start the economy (which it won't).

For the average person the point of Brexit was to boot out unwanted immigrants, what was the point really?
Русский военный корабль, иди на хуй!
uziq
Member
+476|2880
you’re talking about the future economic outlook of the world reserve currencies.

you think china or japan are better runners than the pound? sorry but a speculative bubble in china is not a better outlook than the pound.

japan is looking into degrowth as a medium term economic strategy. their economy will crater in the next few generations. as if has been since the 2000s. i wouldn’t say they’re any better or worse off as a projection than the UK.

you just like to whine about blair. it’s bereft of actual analysis.
Dilbert_X
The X stands for
+1,786|5534|eXtreme to the maX
Its a pretty big bubble, the UK is now a minnow clinging on to the vestiges of the city - much of which ahs moved to Europe and isn't coming back.

The Euro is five times more used than the pound, its only downhill from here.
Русский военный корабль, иди на хуй!

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