BF2S Forums Investment

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)

It's only bad when Martha Stewart does it.

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://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.

https://twitter.com/dminghella/status/1 … UfQNl-Vaaw

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.

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

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)

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.

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

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.

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.