Is The Economy Just Now Falling Apart

[Declan]

Looking at a drop tomorrow.

 

[Coal Gas and peat]

1 netflix stock costs 447 dollars .......that is very dear

 

[jpc]

1 netflix stock costs 447 dollars .......that is very dear

For mostly woke dross.
Phenomenally overvalued.

 

[Coal Gas and peat]

Nigel Farage is getting revenge on the bank closing his account and putting him out they have been forced to issue a grovelling apology

 

[Mad as Fish]

Nigel Farage is getting revenge on the bank closing his account and putting him out they have been forced to issue a grovelling apology

Any links to help us savour the moment?

 

[Coal Gas and peat]

Any links to help us savour the moment?

https://www.irishnews.com/news/ukne..._only_a_start_as_he_vows_to_fight_on-3455420/

https://www.msn.com/en-gb/news/othe...rust-reporting-of-my-old-employer/ar-AA1e8zGQ

Broadcaster Jon Sopel has issued an apology to Nigel Farage after previously mocking the former UKIP leader's cancelled account with bank Coutts.
On July 4, Sopel joked about Farage's complaint, following initial BBC reports that Coutts didn't cater for clients with less than £1million in their current account.
Sopel, himself an ex-BBC correspondent, tweeted: 'You must feel a bit of a Charlie if you’re Nigel Farage, and you claim that it’s all an establishment stitch up that your account’s been closed when it’s just you’re not rich enough for Coutt’s.

 

[Mad as Fish]

https://www.irishnews.com/news/ukne..._only_a_start_as_he_vows_to_fight_on-3455420/

https://www.msn.com/en-gb/news/othe...rust-reporting-of-my-old-employer/ar-AA1e8zGQ

Broadcaster Jon Sopel has issued an apology to Nigel Farage after previously mocking the former UKIP leader's cancelled account with bank Coutts.
On July 4, Sopel joked about Farage's complaint, following initial BBC reports that Coutts didn't cater for clients with less than £1million in their current account.
Sopel, himself an ex-BBC correspondent, tweeted: 'You must feel a bit of a Charlie if you’re Nigel Farage, and you claim that it’s all an establishment stitch up that your account’s been closed when it’s just you’re not rich enough for Coutt’s.

Cheers!

 

[Mad as Fish]

https://www.irishnews.com/news/ukne..._only_a_start_as_he_vows_to_fight_on-3455420/

https://www.msn.com/en-gb/news/othe...rust-reporting-of-my-old-employer/ar-AA1e8zGQ

Broadcaster Jon Sopel has issued an apology to Nigel Farage after previously mocking the former UKIP leader's cancelled account with bank Coutts.
On July 4, Sopel joked about Farage's complaint, following initial BBC reports that Coutts didn't cater for clients with less than £1million in their current account.
Sopel, himself an ex-BBC correspondent, tweeted: 'You must feel a bit of a Charlie if you’re Nigel Farage, and you claim that it’s all an establishment stitch up that your account’s been closed when it’s just you’re not rich enough for Coutt’s.

So even the government has woken up and intends doing something about it. I mean, its not like Britain is anything like Ireland with its hate speech laws, oh no, perish the very thought!

 

[Coal Gas and peat]

More revenge for Farage now with the boss of Natwest having to resign in shame for putting out a bullshit story of fake news against Farage

NatWest chief executive Alison Rose has stepped down after admitting to the inaccurate briefing of a BBC journalist about the closure of Nigel Farage’s bank account. Her departure, after more than three decades at the UK taxpayer-backed Ulster Bank parent, marks the latest escalation in a high-profile row between the political pundit and former leader of the UK Independence Party (Ukip) and one of Britain’s biggest banks.

https://www.irishtimes.com/business...lison-rose-steps-down-after-nigel-farage-row/

So much winning

 

[Mad as Fish]

More revenge for Farage now with the boss of Natwest having to resign in shame for putting out a bullshit story of fake news against Farage

NatWest chief executive Alison Rose has stepped down after admitting to the inaccurate briefing of a BBC journalist about the closure of Nigel Farage’s bank account. Her departure, after more than three decades at the UK taxpayer-backed Ulster Bank parent, marks the latest escalation in a high-profile row between the political pundit and former leader of the UK Independence Party (Ukip) and one of Britain’s biggest banks.

https://www.irishtimes.com/business...lison-rose-steps-down-after-nigel-farage-row/

So much winning

There was a time when companies stayed well away from politics, but now they think they are big enough to push the politicians around, hopefully this affair will help put them back in their box.

 

[Wolf]

https://www.irishnews.com/news/ukne..._only_a_start_as_he_vows_to_fight_on-3455420/

https://www.msn.com/en-gb/news/othe...rust-reporting-of-my-old-employer/ar-AA1e8zGQ

Broadcaster Jon Sopel has issued an apology to Nigel Farage after previously mocking the former UKIP leader's cancelled account with bank Coutts.
On July 4, Sopel joked about Farage's complaint, following initial BBC reports that Coutts didn't cater for clients with less than £1million in their current account.
Sopel, himself an ex-BBC correspondent, tweeted: 'You must feel a bit of a Charlie if you’re Nigel Farage, and you claim that it’s all an establishment stitch up that your account’s been closed when it’s just you’re not rich enough for Coutt’s.

Get woke and eventually go broke.
I'd say there was massive pushback against this from a lot of rich and influential people.

 

[jpc]

The consequences of a single currency and EU bureaucracy.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[Mad as Fish]

I keep hearing that mortgages over 200k are very rare, the banks don’t appear to be lending above that figure, not out this way (Munster) anyway.

Is the government pulling their strings, putting an unofficial cap on loans to keep house prices down? I’m starting to think it might be.

 

[Professor]

I keep hearing that mortgages over 200k are very rare, the banks don’t appear to be lending above that figure, not out this way (Munster) anyway.

Is the government pulling their strings, putting an unofficial cap on loans to keep house prices down? I’m starting to think it might be.

But it may have something to do with the forthcoming interest rises, and the fact that a pile is waayyy overpriced in the ripublic to start with, so combine the two and one ends up expected to repay unrealistic payments for 40 years - Seems very risky at the moment - Best wait for the next Crash and see what economic value can be had, might not be long to go

 

[Mad as Fish]

But it may have something to do with the forthcoming interest rises, and the fact that a pile is waayyy overpriced in the ripublic to start with, so combine the two and one ends up expected to repay unrealistic payments for 40 years - Seems very risky at the moment - Best wait for the next Crash and see what economic value can be had, might not be long to go

That kinda depends on how a house is valued. Generally speaking they are selling for less than their rebuild costs in this area. As one who is actively house hunting at present I'm only too painfully aware that what is on the market is crap, nearly all that we look at need a further 50 - 100k spent on them to bring them up to modern standards, which suggests that they are valued about right if the cost of replacement is the main criterion.

It might be argued that wages are too low rather than house prices too high, which brings us to the point that a large part of the build cost is labour, if wages go up then so will the cost of building/refurbishing them, it's a closed loop that is tricky to break out of.

It's also worth noting that Ireland is still a lot cheaper than the UK and in fact is not that much dearer than the Balkan states, indeed, it's a lot cheaper than say, a pad on the Med in Croatia. The middle of France may be bargain basement, but you'd need to take your own job because there aren't any out there.

 

[Declan]

This nsanity can not continue and I am waiting till it cracks. It is utterly ridiculous. A regular house close to me is now supposedly valued at over a million dollars.

There will soon be a tsunami of practically everybody just stopping their mortgage payments.

My brother sold his house in 2017 and it is up for a foreclosure auction in September. The buyers could not make the payments.

Even with NO MORTGAGE at all, it will not unusual to have say 8500 property tax. 700 a month right there, just one miserable bill before you buy a biscuit.

This is all coming down as we speak now.

 

[Coal Gas and peat]

https://www.breakingnews.ie/ireland/accenture-to-cut-890-staff-in-ireland-1509438.html

The trend of significant job losses continues

 

[Declan]

The contraction in Ireland will be epic. the sooner the better.

 

[Jay Homer Simpson]

The weather this past month of July has been exactly like 2008 and we all remember what happened next in 2008

 

[PlunkettsGhost]

Wonder what will happen Aug 22nd, when BRICS announce their new gold backed currency system

 

[Jay Homer Simpson]

Has anyone else noticed that average Paddy is spending money like a drunken sailor the past year?

 

[Professor]

The weather this past month of July has been exactly like 2008 and we all remember what happened next in 2008

Ireland crashed - Dublin pubs slashed prices and offered 3 pints for a €10 to get bums on seats. Families had to emigrate, celtic tiger property prices slumped to realistic levels but the tax payer payed off all the false debts.
It's been crap ever since! No Good!!

 

[Declan]

We have seen days like this before and eventually it finally will be the one that starts the panic and reality intruding.

Stock bonds oil and gold all down in a touch of deflation.

 

[PlunkettsGhost]

View: https://rumble.com/v31mszk-new-brics-currency-boosts-gold-and-destroys-dollar-jim-rickards.html

 

[Coal Gas and peat]

This thief thought he was gonna roll on our with a bin full of cigarettes and tobacco.....it was a big mistake the Indians beat the tar out of him with a mighty stick that they had

 

[Wolf]

This thief thought he was gonna roll on our with a bin full of cigarettes and tobacco.....it was a big mistake the Indians beat the tar out of him with a mighty stick that they had

Can't be sure but is the guy who stopped him wearing a Kerry shirt?

 

[Coal Gas and peat]

Can't be sure but is the guy who stopped him wearing a Kerry shirt?

I can't find a link to the full video anywhere I saw it on YouTube shorts , but he got a top notch beating

 

[Declan]

Employee of the Month.

 

[Coal Gas and peat]

He thought he was going to roll out a full bin of smoking products unchallenged , you'd be into a few grand easily ........7/11 should award these workers if they have not already done so

Justice was done in this case

 

[Professor]

Right then, but not now (thanks to Zitler and Al'lied holelicking supporters) . . .

. . . After Russia invaded Ukraine in early 2022, prompting countries around the world to shun Russia’s fuel supplies, the resulting spike in the cost of energy sent inflation spiraling into the double digits.

“Food inflation has been particularly high, reaching 19.1%” in March, Bailey said in a press conference on Thursday following the announcement of a 12th consecutive hike in the Bank’s base rate. “We are acutely aware of how difficult this rise in food prices is for people, especially for those on lower incomes.”

Now here comes the unbelievable excuses which deny the banks involvement in supporting weaponised sanctions and asset seizing,escalating the crisis of it's own making

Part of the problem was that the cause of the shock — a major war in Europe — was unprecedented in today’s modern, interconnected world. This meant the Bank had little past experience on which to base its forecasts for food prices.

“The sustained higher price level represents a long-term cost for households and businesses, and this is one driver of subdued economic activity over the forecast horizon,” the BOE’s Monetary Policy Report said.

Poor harvests due to bad weather, as well as the war in Ukraine and the resulting supply chain shocks, were driving up food prices, the Bank said in its latest Monetary Policy Report.
Bailey said there were some signs that food price inflation would soon start to weaken, but this was taking “longer than we previously thought.”

UK Food Prices Replace Energy as Top Inflation Concern for BOE

Food has now displaced energy as the biggest cause of inflationary concern for the Bank of England, minutes from its latest rate-setting meeting revealed on Thursda…

financialpost.com

 

[Professor]

Huge Costa del Sol greenhouse visible from space supplying food to Tesco and Sainsbury's​

The 185-sq mile greenhouse, nicknamed El Mar de Plastico, grows nearly 2.7million tonnes of produce each year and supplies Tesco, Sainsbury's and Asda

Brexit scarcity woes are alleviated by prosperous European relations, are quietly thankful to Spain.

. . . At 185 square miles, it is 25% bigger than the Isle of Wight and provides major UK supermarkets including Tesco, Sainsbury’s and Asda with tomatoes, peppers, cucumbers, melons and peaches. Since the first greenhouse went up in 1963 at Poniente Almeriense near Almeria in Andalucia, the area, also known as Europe’s market garden, has grown to be worth more than £1billion a year to the Spanish economy.

Huge greenhouse visible from space supplying food to Tesco and Sainsbury's

The 185-sq mile greenhouse, nicknamed El Mar de Plastico, grows nearly 2.7million tonnes of produce each year and supplies Tesco, Sainsbury's and Asda

www.mirror.co.uk

 

[Mad as Fish]

Huge Costa del Sol greenhouse visible from space supplying food to Tesco and Sainsbury's​

The 185-sq mile greenhouse, nicknamed El Mar de Plastico, grows nearly 2.7million tonnes of produce each year and supplies Tesco, Sainsbury's and Asda

Brexit scarcity woes are alleviated by prosperous European relations, are quietly thankful to Spain.
View attachment 2002
View attachment 2003

. . . At 185 square miles, it is 25% bigger than the Isle of Wight and provides major UK supermarkets including Tesco, Sainsbury’s and Asda with tomatoes, peppers, cucumbers, melons and peaches. Since the first greenhouse went up in 1963 at Poniente Almeriense near Almeria in Andalucia, the area, also known as Europe’s market garden, has grown to be worth more than £1billion a year to the Spanish economy.

Huge greenhouse visible from space supplying food to Tesco and Sainsbury's

The 185-sq mile greenhouse, nicknamed El Mar de Plastico, grows nearly 2.7million tonnes of produce each year and supplies Tesco, Sainsbury's and Asda

www.mirror.co.uk

Whenever the phrase 'visibible from space' is used you can be assured there is a simpleton writing the article. The neighbours cat is visible from space FFS, as a quick glance at Google maps will confirm.

As much as we might admire the look of those big shiny tomatoes down at Tesco, we can be sure that we are buying little more than Spanish water with very little flavour added.

 

[Professor]

Whenever the phrase 'visibible from space' is used you can be assured there is a simpleton writing the article. The neighbours cat is visible from space FFS, as a quick glance at Google maps will confirm.

As much as we might admire the look of those big shiny tomatoes down at Tesco, we can be sure that we are buying little more than Spanish water with very little flavour added.

Nothing like being in the fields on warm sunny winters morning, in among the lettuces and orange trees in fruit, olives then artichokes and watermelon.
True though, the tomatoes from all sources were constantly mostly watery bland, unripe and unpleasant to eat, I've had much better sweet delicious tomatoes from Irish growers selling through Aldi

 

[Declan]

 

[Declan]

We are now back to rates of about 15 years ago. The difference is the federal debt is about is about 7 times as high as we near 33 trillion.
The money supply is rapidly falling and the dollar is rising nearly every day.
Expect the market to continue to fall and if that happens we are looking at a deflationary collapse.

 

[Declan]

 

[Declan]

Again, another day of rising interest rates and a rising dollar. 4.33% on the 10 year being the recent high so we are getting very close.

 

[Declan]

Let's see if the interest rate breaks the recent high of 4.33% on the 10 year. If so, it will get dicey quickly imo

 

[Declan]

This is awashed up market. When you see it opening higher and then just caving, you know there is unease o er something underneath the surface

 

[Professor]

This is awashed up market. When you see it opening higher and then just caving, you know there is unease o er something underneath the surface

Is'nt that what happened to cause the .com bubble/crash, everybody had dumped real stocks like silver and gold to invest in Tech companies with many of them literally worthless including their sky's-the-limit future projection charts but so many had invested hugely in them that their stock values overvalued beyond the beyond? What started that crash/avalanche back then?

Was skimming over a zero hedge story or maybe it came from here, could have been on the green energy scam thread here not sure now, but the rough bones of it is that an Asian EV car manufacturer who recently sprang out of nowhere and produces basic entry level vehicles and with only €250 million in total assets on paper, it has suddenly become worth over $9Billion or was it $90 Billion in actual stock value. Article said it's worth more than GM & Ford combined such is it's unrealistically high valuation.
Obviously the stock holders would be itching to sell at this point - So long as no body notices too quickly