Is The Economy Just Now Falling Apart

[Myles O'Reilly]

Carlow hit 30 today. RTE nearly wetting themselves (Climate change).

 

[Declan]

Things are looking particularly bleak today with stocks, bonds, crypto, oil and metals all down well. Oil especially getting hit hard.

 

[Anderson]

Di you think it is going to blow?

Its all heading south.

 

[Anderson]

10k Leccy bill!


View: https://twitter.com/DolanGeraldine/status/1564392353300889603?s=20&t=vFpn5hrMNVACvqjWh0U6fA

 

[Anderson]

She was l
She was on the radio, she loves wind energy. so let her pay for it.

I had to laugh at her Ukraine flag, surely she supported cutting off supplies of Rusina Gas and oil despite the cost to Ireland?

 

[Declan]

Is there a link for her on the radio. It would be a good listen

 

[Myles O'Reilly]

I can check tomorrow as I am staying over at the farm tonight.

I thought you lived on the farm Sir.

 

[Declan]

SF are next and then the NP will have their day in the sun.

 

[Myles O'Reilly]

The farm is an old county house with loads of out offices dating back to 1700 and earlier,

Was it a Protestant or Catholic farm Sir? If it was that early its likely to be Catholic. But later on the Penal laws kicked in and anything daycent was handed over to the Prods.

A Catholic farm would've been a sh1t show.

 

[jpc]

Today the price of West Texas Crude is again up above 82 dollars. Heating oil is going to be 45% higher than last year, about $600 extra.

Everything is set up for a dramatic turn of events now..

Very prescient at this moment nearly a year later .
Not going to be pretty by January.

 

[Declan]

Very prescient at this moment nearly a year later .
Not going to be pretty by January.

We have seen an artificial reduction recently of oil prices.
1. Russia is selling oil to Saudi and LNG to China who then sell it on as theirs..
2. Biden is releasing 1 million barrels a day(maybe secretly more) from the Strategic Reserve which is I believe under 400 million now and the capacity is i think 780 million. Expect that to end after the election with only 300 million left which is just 15 days supply.
3. It is recognized that a big economic downturn is coming and the expectation is of a demand drop.

 

[Declan]

It will come as soon as the cold comes.

 

[jpc]

Read this for a good dose of what is to come.
Reality is not nice.

Market-Ticker - The Market Ticker

MarketTicker Forums - Discussions About Investing

market-ticker.org

"Let's face facts:

 

[Declan]

I must bookmark that on my laptop. Plenty of enjoyable doom.

The exciting thing is that it is happening now after years of waiting.

 

[jpc]

I must bookmark that on my laptop. Plenty of enjoyable doom.

The exciting thing is that it is happening now after years of waiting.

I'd rather it wasn't tbh.
A calamity brought on by congenital morons.

 

[Myles O'Reilly]

I was wild when a late teenager. Went to Dublin to work and immediately went about beating up the gougers. There was skin blood and hair everywhere. I beat three of them in one bout in Inchicore . One had earrings and I pulled them out of him. I always made sure to go got the silverwear. Nose and lip and ear piercings. All ripped out

Mowl said he came across ye in Ballyers and battered ye senseless.

 

[jpc]

I'd rather it wasn't tbh.
A calamity brought on by congenital morons.

And top of the moron pile in this totally fuckedup mess.

ZeroHedge

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

www.zerohedge.com

 

[Deleted member 1]

And top of the moron pile in this totally fuckedup mess.

ZeroHedge

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

www.zerohedge.com

Very apt statement from the link,

European power prices are not expensive by chance, but by design. The exponential increase in subsidies, regulated costs and the price of CO2 emission rights are political decisions.

 

[jpc]

Very apt statement from the link,

European power prices are not expensive by chance, but by design. The exponential increase in subsidies, regulated costs and the price of CO2 emission rights are political decisions.

Yep!
Totally self inflicted for what,?

 

[jpc]

I want to put this question to all of you to answer Yes or No.


"If the Isle of Man had no outside connection to any mainland and used at most 1500 mw of electricity with a lower usage of 750 mw all generated
at start of 2022 by coal oil and gas and then in 2022 it installed as follows: 2000 mw of solar on shore plus 500 on shore wind generation,

Next it installs 4,000 mw of offshore wind around the island, and all of this is connected to the grid system. It was all done by 31st December 2022. Following testing and tweeting up. The system runs like the Irish system until 1st May 2023 when strong east winds are forecast and arrive, and a month good sunshine is forecast and arrives. Total renewables is = 6,500. Highest demand is 1500mw.
--------------------------------------------------------------------------------------------------------------------------------------------------

If coal oil and gas was cut off and supplies were exhausted by the 3rd May 2023,

COULD THE ISLAND BE RUN BY THE RENEWABLES for a month ?

I'm going to say no!

The best you could realistically expect from all that at best would be 1300MW
Then you get a high pressure or clouds and cut that down again.

 

[Deleted member 1]

Yep!
Totally self inflicted for what,?

Things are about to get a whole lot worse JPC.
https://t.me/dlbbuhankachat/338961

 

[Declan]

Very apt statement from the link,

European power prices are not expensive by chance, but by design. The exponential increase in subsidies, regulated costs and the price of CO2 emission rights are political decisions.

How to have regular people grasp that it is deliberate is a difficult task. It is just to alien to them to believe these people want them dead. Not that they hate them,just that they are in essence eating their food and fuel and must to eliminated.

 

[Declan]

Yep!
Totally self inflicted for what,?

To ncrease stress. More suicisebut the inner goal and you see italready is people deciding not to bring children into this "awful world".

 

[scolairebocht]

Its a well known phenomenon that people cannot fight back if they are too poor. You know in Ireland during WW1 there was a big increase in agricultural prices, where most Irish people worked, and a fall off in emigration, both of which very much helped the Independence movement.

 

[Declan]

The only avenue of escape is the same as what your only chance is when you are on a sinking ship????

So what do you do?

 

[scolairebocht]

Well somehow people have to fight back, we don't get freedom from this tyranny without fighting for it. I think the first priority might be to discourage people from getting vaccinated, if they haven't already done so.

There is a Covid vaccination campaign in full swing now in Ireland, 4th booster but possibly the first especially for some children. For what we know already about all this, that is tantamount to witnessing murder on our doorsteps, its horrific.

 

[scolairebocht]

I don't know how we can all avoid the economic crash. I am thinking to avoid the banking system in general might help .i.e. not being a lender - where they could call in your loans - or saver in banks - where those savings could be lost as collateral in a failing banking system.

 

[Declan]

You get off the sinking ship. Set up your own country. Just me, then another, then another etc etc etc etc

 

[Declan]

I started and minted my own coun and currency.

 

[Declan]

Stocks , gold, bonds all down. But the dollar is up relative to others .

I think the euro going now below 99c just shows how screwed Europe really is.

They must try to hold it or it is a euro collapse for sure.

 

[Declan]

Junk-Loan Defaults Worry Wall Street Investors

Missed loan payments point to a hard landing for companies squeezed by rising interest rates.

www.wsj.com

Just wait til people can not pay their rent and car loans..

 

[Deleted member 1]

Junk-Loan Defaults Worry Wall Street Investors

Missed loan payments point to a hard landing for companies squeezed by rising interest rates.

www.wsj.com

Just wait til people can not pay their rent and car loans..

Bank of America have recently offered 0% interest mortgages to black and Hispanic house buyers only. Something similar happened before the 2008 crash.

 

[jpc]

Meanwhile a real political operator talking.

India's oil minister had preempted Washington urgings by kicking off the week bluntly staying, "We will buy oil from Russia, we will buy from wherever... I have a moral duty to my consumer."

 

[Deleted member 1]

Meanwhile a real political operator talking.

India's oil minister had preempted Washington urgings by kicking off the week bluntly staying, "We will buy oil from Russia, we will buy from wherever... I have a moral duty to my consumer."

No such moral duty in evidence here. Traitors.

 

[Declan]

Liz Truss is like King Canute and ghas decided that personal energy bills will be kept to £2500.

So who pays the extra when obviously people will use tons of "free energy". Imagine having an electric car. Imagine charging everyone's electric car.

 

[Declan]

Bloomberg - Are you a robot?

Panic time as winter approaches.
Note the big push in Ukraine to try to topple Putin.
Game on now in the next few days.

 

[Deleted member 1]

Ukraine is gaining ground

In a buffer Zone Val. These areas were not in Russia's original plan.

 

[Declan]

I believe this was a Ukrainian last effort at all or nothing. They have zero in reserve.

It is like the Germans in The Battle of the Bulge. Which was doomed for the same reason as they did not control the sky.

 

[Myles O'Reilly]

Battle of the Bulge.

 

[Myles O'Reilly]

Young people face risk of ‘substantial’ reduction in the amount of money parents can leave to their children tax-free​

Young people face risk of ‘substantial’ reduction in the amount of money parents can leave to their children tax-free

There should be a “substantial” reduction in the amount of money parents can leave to their children tax-free, a Government-appointed commission on taxation has recommended.

www.independent.ie