
soalbundy
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Everything posted by soalbundy
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Well I've spent most of my working life in a civilized country, so outside the UK, which means I haven't had to deal with any primitives.
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Unruly British man goes berserk on Bangkok-London flight (video)
soalbundy replied to webfact's topic in Thailand News
Does not play well with others. -
Unruly British man goes berserk on Bangkok-London flight (video)
soalbundy replied to webfact's topic in Thailand News
He's going to have to do time for this escapade, I suppose he'll be all apologetic when the drugs wear off but I doubt that will impress the judge, endangering a flight is a very serious offence and then there is the GBH offence as well. -
Actually earnings aren't decent, what the Fed has conveniently ignored is that although hourly rates have risen employers have curtailed the number of hours worked due to lack of new orders. At the moment backlogs are being worked through and employers are loath to fire trained workers but sooner or later that has to happen, this recession isn't going away. Analysts have reckoned that the S&P will reach 6,000 followed by a crash to 2,000 mid year. Fired employees who have received several months of severance payments haven't yet applied for social security so these numbers aren't yet in the statistics. There are now many thousands of long term unemployed who can't find new employment, hardly a sign of a booming economy.
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There will be rate cuts, maybe even to zero. When layoffs start becoming a big problem (and they are starting) spending goes down and with it inflation nosedives. Bank failures and company bankruptcies start massing and then the Fed, too late as usual, loosens the borrowing rates but banks can't make money with low interest rates so they tighten credit, it's a 'my God what have we done' moment for the Fed and/or central banks. Before this era there were always other countries who weren't in recession (usually China or the USA) who could act as an economic engine to pull the one or two countries out of trouble but this time the whole industrialized world is in trouble, no engine in sight.
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Every Western country sends money overseas even when they are in recession, it has to do with soft power and political influence, they all expect something back, call it an investment....an oil company may be more likely to get a drilling license if that country is well disposed to the oil company's government for instance. The whole world is heading for a recession, possibly even depression which is more difficult to get out of as Japan well knows, they've been in one for 20 years, inflation would be an improvement for them. It's the first time ever that a world synchronized recession has happened and nobody knows how to deal with it.
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Pattaya Gears Up for 11th Annual St. Patrick’s Day Parade
soalbundy replied to webfact's topic in Pattaya News
10 Americans whose great grandmothers were of dubious Irish descent. -
According to some American financial investors, many credit cards are maxed out and banks are tightening lending standards even more and so many retailers are having to offer 'buy now pay later' schemes. The Pandemic money is running out and in addition people are having to restart paying their student loans monthly. The housing market, along with commercial real estate is in bad shape. America is having to borrow money to pay the interest on the 34 trillion dollar debt load, as one expert put it, " If America was a company they would have to file for bankruptcy." This is the first time that the world experiences a world synchronized recession which is way beyond the ability of the central banks ability to combat. Enter the Brics with their own IMF and soon a gold backed trading currency and in a few years time America loses it's status as a reserve currency.
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It rather depends on the state of the economy. Retail sales are down when adjusted for inflation which means lower factory production, already layoffs are in the pipeline as 3,4,5 month severance payments mean people haven't yet registered for social security payments, defaults on mortgage payments and credit card debts are rising and the massive drop in the value of commercial buildings, 40 to 50% which are on the books of small to medium sized banks are a harbinger of bank failures to come, this all points to an economic crash, especially as the inverted yield curves foresee this and the Fed (too late as always) will have to massively drop interest rates no matter what the inflation rates are in a belated attempt to revitalize the economy (historically this doesn't work sustainably).
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No, they don't deserve billions (a billion is a ridiculous concept anyway) Bezos had a good idea and started a business but he doesn't run it now, it's run by his many managers and technocrats, same as Bill Gates who had the idea but the real start up work was done by others. I don't deny that People such as Bezos and Musk deserve to be rich but what is happening these days is just obscene. An example of a billion.....one billion seconds is 31.7 years, it's greed for greed's sake.
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It isn't the number that is concerning as much as the demographics, to many old people and too few youngsters to support them. Money that could be used to make life easier for parents is diverted to care for the old, at least in the west, but even in Thailand it means one couple have to use time and money to look after two sets of parents. There is a lot wrong in the distribution of wealth in the world where Jeff Bezos can earn more in 3 minutes than a worker in his whole life or where Elon Musk wants 54 billion dollars a year as a salary.
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I really can't say but any expat who wants to hang out with me must be a loser.
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German tourist’s night out in Pattaya turns into nightmare
soalbundy replied to webfact's topic in Pattaya News
It's always nice to be missed but I'm here everyday. -
German tourist’s night out in Pattaya turns into nightmare
soalbundy replied to webfact's topic in Pattaya News
Perhaps you should get off that horse, it's 80 years old. -
German tourist’s night out in Pattaya turns into nightmare
soalbundy replied to webfact's topic in Pattaya News
because we've been in the news lately, one Brit after another, let the Germans take over.- 136 replies
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German tourist’s night out in Pattaya turns into nightmare
soalbundy replied to webfact's topic in Pattaya News
Makes a change from Brits in trouble- 136 replies
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Billions will die, in the technically advanced nations a few million will survive as well as in some African countries. Mankind has suffered worse, the younger Dryas and the volcanoes in the Russian traps but a small number has always pulled through and it was small as witnessed by the very small genetic diversity in the human race, there is more genetic diversity in one group of chimpanzees than among mankind, I believe the bottleneck of survivors consisted of a few hundred people in India.
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Two teenagers and a six pack should do it. Decreasing birthrates are worldwide, kids are expensive, especially in the west where both parents have to work but child minding costs are prohibitive, the mother would be working just to pay for child care...pointless. Things are only going to get worse with a worldwide synchronized recession coming combined with bank failures, unemployment and dauer inflation, on top of that with the rising of BRICS dedollarisation will cause chaos in the FX market, we live in interesting times.
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Thaksin’s opponents to petition justice minister to deny him parole
soalbundy replied to webfact's topic in Thailand News
If ever there was a petition doomed to fail this is it.