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Everything posted by Chomper Higgot
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Perhaps he was there for the free a/c.
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Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
Your last suggestion alone would provide the funding fix many of the UK’s problems. It was the basis behind the CCCTB being introduced by the EU (including UK), and was the reason why billionaires and hedgefund managers backed Brexit. -
It’s not ambiguous at all, I met a friend here (Thailand) who has been retired here (Thailand) for over 15 years. Your personal notes on what I did over a decade ago confused you. It seems I must update you more often.
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Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
The third option is provide relief to the people who need (those suffering poverty) and not to the already wealthy. Pay for that with a windfall tax on Oil and Gas companies (who are not going to dig up their oil fields and move to Singapore). Advantage, does not require injecting more money into the economy than is necessary, doesn’t involve massive public borrowing, generates growth from the bottom up, and it can even be justifiably claimed as ‘leveling up’. It’s even the right ‘humanitarian’ thing to do. (Or is that a disadvantage?). Disadvantage, it doesn’t fit with already debunked rightwing dogma. ….. As an aside. Let’s deal with this particular piece of rightwing dogma ‘the people who create jobs’. It’s the economy and society that creates jobs, not some individual or company. If you start a company you won’t employ anyone unless you have customers, you don’t employ people and in doing so create customers. If individuals or companies were job creators, the economic woes of sub Sahara Africa could be solved by opening branches of Starbucks, or Dyson outlets. No, companies need an established level of economy, laws and regulations, transport and utility infrastructure, and educated/skilled employees. All provided by society and government. Jobs and wealth are created by economies and societies. (Oh and market access, remember that?!) Feel free to open up shop in Sub Sahara Africa to prove me wrong. -
It goes right back to Ronald Regan making a pact with the Christian Right. Illiberalism is on the March. Next up banning same sex marriage and after that contraception. The message is already out: https://www.theguardian.com/world/2022/jun/24/clarence-thomas-roe-gay-marriage-contraception-lgbtq Oh, did I mention book burning?: https://lithub.com/a-right-wing-pastor-held-a-literal-book-burning-in-tennessee-last-night/
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Over a decade ago. But thanks for keeping notes.
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Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
People spending money at the bottom of the economy doesn’t stimulate growth? There’s sure to be a Nobel Prize for that if you can prove it. -
Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
Why would anyone invest in a country that has deliberately cut itself off from tarring free access to its single biggest market? Perhaps it’s the abysmal productivity that’ll attract them. -
My observation is factually correct.
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I met with a friend this afternoon, an English guy who has been retired here for over 15 years. He tells me he’s very worried about the exchange rate fall. Just an ordinary guy trying to enjoy his last years after a life time of hard work. The policies being enacted by this government are negatively impacting very many people, while helping the already wealthy.
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Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
Mortgage holders are going to be delighted. -
Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
People on low incomes spend increases in money they receive in the local economy, that spending stimulates economic activity from the bottom up. Local spending, local businesses, local communities. -
Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
Dealing with inflation is obviously necessary, the BoE are on it. Borrowing money to give tax cuts in a ‘growth gamble’ is lunacy. 1. It works directly against the BoE efforts to control inflation. 2. It burdens tax payers and the economy with debt. 3. It deflated the pound, thereby increasing inflation. 4. It goes nothing to address the cost of living crisis. It does however hand tens of billions to people who are already wealthy. Meanwhile millions of people in the UK are unable to afford regularly meals. -
Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
You assume Truss has any say in BoE interest rates, she does not. Moreover she has signaled she may remove BoE independence. Right now the BoE is increasing interest rates to quell inflation and the Exchequer is borrowing money to reduce taxes, thereby increasing available cash in the economy. This clearly is not a coordinated plan. Running across a busy road with your eyes shut could also be referred to as ‘a bold move’, or ‘crass stupidity’. -
Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
I was right, she was the opposition’s preferred candidate. And she’s making exactly the mess I and many others predicted. But congratulations, you did manage to find Truss’ foremost supporter, who I was responding to. Oddly, since getting what he wanted he’s gone very quiet. -
Bank of England raises rates to 2.25%, despite likely recession
Chomper Higgot replied to Scott's topic in World News
Let’s see if you can find a post in which I support Truss for PM.