BF2S Forums Investment

5 times more used … in the eurozone. soon as italy or greece default then that one’s over.

and the euro is performing worse in recent events than the £ against the dollar. so what are you even talking about lmao. catastrophizing over the pounds slide against the dollar. ffs

https://twitter.com/paulkrugman/status/ … Fegw2Bm2jw

lmao right on time.

dilbert knows best.

crank theorist. he has a nobel prize in economics. he invented the field of foreign currency trading theory and financialised international markets. lmao.

maybe he’s just thought about these things longer than you?

Last edited by uziq (2022-09-25 07:08:54)

Economics is the flakiest of the pseudo-sciences and often debunked, most likely the theories were never properly bunked in the first place.

Its laughable this guy is misquoting his own theories on twitter.

So anyway, good luck with the unprecedented borrowing to be transferred by the rich into offshore tax-havens, I'm sure it'll work out great because some guy on twitter says it will.

he didn't say it will work out great. he is against neoliberal trickle-down economics and vocally critical of it. just like those oxford PPE tutors you keep pouring opprobrium on. you seem to have a seriously hard time parsing people's points of view. no doubt because you like the sound of your own ranting a bit too much.

he said that he can't see how the current measures will lead to a currency crisis, as classically and historically understood. the conditions are not the same; the £ is not as vulnerable as, say, east asian tiger economies in the lead-up to their IMF crisis, which was also precipitated by the fed raising interest rates on the $ and trying to curb inflation domestically. that's certainly a part of the general macroeconomic picture here with the £ and Euro's sliding values; but again, not quite the right situation for a currency crash.

you seem to be arguing here that trickle down is bad as if everyone here hasn't been saying it very clearly for years. who are you saying 'good luck' to lmao. you really do love the sound of your own voice mate.

good luck with the unprecedented borrowing to be transferred by the rich into offshore tax-havens

and here i was arguing against printing money for private energy company subsidies, when other european nations have assumed minority, if not controlling, stakes in their industries in return for the same subsidies and taxpayer's largesse ... and you were ... poo'poohing my posts at every turn? lmao. make some fucking sense you cretin.

Last edited by uziq (2022-09-26 07:54:06)

erm, which is exactly what i said? you are saying the £ is fucked and i said, citing krugman among others, that the FX markets are making grim reading but we are not approaching a currency crisis, as, i quote, "classically and historically understood".

and well done at not addressing my point about nationalisation and actually getting something back out of our shitty compact with the energy companies this winter. you gloat that we're transferring immense wealth to the super-rich and then criticise me endlessly when i point to the other european states who are actually leveraging political power to get something back from the private energy companies. lmao. you said yourself "a windfall tax would be unfair and hard to devise". now you're laughing that we're printing money for energy CEOs? you are fucking stupid as hell, man, i've got to tell you.

funnily enough, 'reaganomics' did deliver, albeit in a temporary way and for the top 10%, for the UK in the thatcher era because of ... north sea oil. you can fuck with your financial and currency markets and deregulate and lower taxes all you want when you've got an immense export and fire-sale privatisations to your credit shet. we don't have that now and the truss would-be thatcherites are discovering just what does happen.

a windfall tax has been proposed for the energy companies that are taking record profits during this period. many other european nations have imposed a windfall tax on the same energy companies.

https://www.ft.com/content/c936d529-422 … 4251ed1297
EU targets €140bn from windfall taxes on energy companies

just 'so tricky to devise'!

but, yes, let's impose a 'windfall tax' on the humble UK taxpayer. we already did that for the sake of the energy companies: it's called a subsidy. we've paid tens of billions of 'citizen windfall tax' to the very same private companies.

https://www.independent.co.uk/climate-c … 64222.html
UK has given oil and gas industry £13.6bn in subsidies since Paris Agreement, say campaigners

is that not my tax money helping to prop up highly profitable companies which post record dividends to their shareholders and endless bonuses their CEOs? also, what? i'm doing 'better than i have been'? my annual salary is the lowest it has been since i was in my early 20s. i'm living and travelling light. my decent hourly rate has been negotiated as a part of my experience/expertise; i'm using it to work less, not stack notes.

we've been here before. your concept of 'capitalism' seems to involve oligopolies, which you are invested in personally, reaping endless rewards with all risk eliminated by the state as a subsidy-stabilising handmaiden. so it's okay for them to take subsidies and enjoy cuts in their tax bills when they need it:- but when the consumer sector is in chaos and the market price mechanism is utterly broken, nothing can be done about it, eh?

you are thick as mince, dilbert.

Last edited by uziq (2022-09-28 03:22:32)

uziq wrote:

my annual salary is the lowest it has been since i was in my early 20s. i'm living and travelling light. my decent hourly rate has been negotiated as a part of my experience/expertise; i'm using it to work less, not stack notes.

you are thick as mince, dilbert.

No, I think it is you who is thick.

corporate tax is at a very low level historically in the UK and US – not that it matters when the modus operandi of global capital, post-2008, is to skim off as much profit as possible and park it where it can never be got at by the tax-man



UK



USA

ditto the picture for taxing the rich, if you look over the history of the 20th century.

but tell me again that taxing the rich more on their record-breaking profits will 'break the economy'. not that anyone is even proposing increasing base tax levels: a windfall is a one-off, taxing one-off record profits. doesn't seem so 'unfair' to me. they didn't do any more work in the period to justify runaway profits and criminal price hikes.

once again you're doing a jay and seemingly identifying with the capitalist class who regard you as a smear of shit on their shoe.

Last edited by uziq (2022-09-28 03:28:00)

uziq wrote:

for the gas that Britain owns

what gas does britain own?

Er, all of it?

Britain owns the gas and oil fields, it allows companies licences to extract it.

https://en.wikipedia.org/wiki/Oil_and_g … ed_Kingdom
https://en.wikipedia.org/wiki/North_Sea_oil

Britain needs oil and gas and the tax revenue is handy.
https://www.nstauthority.co.uk/explorat … /overview/

Unfortunately the govt of Britain is populated by Oxford nobs who don't care about your interests or opinion.

Most other countries seem to do fine with long term contracts and stable gas prices.
They have no need of knee-jerk short term panic steps like windfall taxes.

Dilbert_X wrote:

Most other countries seem to do fine with long term contracts and stable gas prices.

stable =/= cheap. there's a big premium for long term contract derp.