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"It's bleak and I am sure there are lots of worried people around, especially if they have young families. I can understand why people are considering taking a 2nd job. I wouldn't because of the tax you would have to pay, I bet if people actually sat down and did the figures there would not be much to gain I just wouldn't, the hours in my job is enough and I am ok financially so luckily it's not a consideration " We're in a similar situation. It wouldn't be worth taking a second job for either of us and we can manage by just cutting our costs as and when we need to. I feel for anyone struggling. It must be a worrying time. | |||
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"Bank of England boss reckons we all shouldn't be asking for pay rises because it will be bad for the economy. Easy to say when you're on £500k+ a year, and all of your little chums in the city are creaming off billions into offshore accounts & dodgy shell companies. " THIS! | |||
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"Honestly looking into relocating to Europe... Living standards in the UK have been falling for a while." Easier said than done nowadays | |||
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" Until the general public is educated on the mechanisms of central banking and money creation, we're going nowhere...." This! We can't "balance our books" by squeezing everyone more and more financially as it just continues to remove money from the economy. Its the equivalent of cutting back on your fuel costs by going to work one day less a week. Yes you might be saving on expenditure but you're decreasing your income. | |||
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" Until the general public is educated on the mechanisms of central banking and money creation, we're going nowhere.... This! We can't "balance our books" by squeezing everyone more and more financially as it just continues to remove money from the economy. Its the equivalent of cutting back on your fuel costs by going to work one day less a week. Yes you might be saving on expenditure but you're decreasing your income. " The issue is that our zombie financial system has been kept on life support through regular infusions of cash (AKA helicopter money) created out of thin air by central banks. Financial institutions get it for virtually 0% interest to cover their bad deals with derivatives and exotic financial instruments. Everyone else gets shafted. What's worse, is that central bank policy isn't subjected to government oversight and acts only in the defense of private banking interests. If you massively expand the money supply, you will get inflation. Due it enough and it's hyperinflation. We're begginning to see the first signs of this, even though more than one factor is in play contibuting to this. | |||
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" Until the general public is educated on the mechanisms of central banking and money creation, we're going nowhere.... This! We can't "balance our books" by squeezing everyone more and more financially as it just continues to remove money from the economy. Its the equivalent of cutting back on your fuel costs by going to work one day less a week. Yes you might be saving on expenditure but you're decreasing your income. The issue is that our zombie financial system has been kept on life support through regular infusions of cash (AKA helicopter money) created out of thin air by central banks. Financial institutions get it for virtually 0% interest to cover their bad deals with derivatives and exotic financial instruments. Everyone else gets shafted. What's worse, is that central bank policy isn't subjected to government oversight and acts only in the defense of private banking interests. If you massively expand the money supply, you will get inflation. Due it enough and it's hyperinflation. We're begginning to see the first signs of this, even though more than one factor is in play contibuting to this." That's the problem. We don't need to increase the "money supply". There is already plenty of it. It's just stagnant rather than moving. Money should cycle through the economy producing tax income as it does which can then be spent by government in ways that further inject that money back into the economy and keep the cycle going. As long as money continues to go in, only to only move so far and then stop and accumulate in certain areas instead of continuing to move, the more we will keep needing cash injections to keep things afloat. Private banks are certainly an issue and I have no idea why they are continuously allowed to line their own pockets with next to no risk as they will always be bailed out at a cost to the tax payer. They're only part of the problem though. | |||
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" Until the general public is educated on the mechanisms of central banking and money creation, we're going nowhere.... This! We can't "balance our books" by squeezing everyone more and more financially as it just continues to remove money from the economy. Its the equivalent of cutting back on your fuel costs by going to work one day less a week. Yes you might be saving on expenditure but you're decreasing your income. The issue is that our zombie financial system has been kept on life support through regular infusions of cash (AKA helicopter money) created out of thin air by central banks. Financial institutions get it for virtually 0% interest to cover their bad deals with derivatives and exotic financial instruments. Everyone else gets shafted. What's worse, is that central bank policy isn't subjected to government oversight and acts only in the defense of private banking interests. If you massively expand the money supply, you will get inflation. Due it enough and it's hyperinflation. We're begginning to see the first signs of this, even though more than one factor is in play contibuting to this. That's the problem. We don't need to increase the "money supply". There is already plenty of it. It's just stagnant rather than moving. Money should cycle through the economy producing tax income as it does which can then be spent by government in ways that further inject that money back into the economy and keep the cycle going. As long as money continues to go in, only to only move so far and then stop and accumulate in certain areas instead of continuing to move, the more we will keep needing cash injections to keep things afloat. Private banks are certainly an issue and I have no idea why they are continuously allowed to line their own pockets with next to no risk as they will always be bailed out at a cost to the tax payer. They're only part of the problem though. " Agreed. The issue is that capital isn't bring allocated to oroductive means such as infrastruture or creation of new industry. It's all going to what's called the FIRE sector ( finance / speculation and real estate). If you had a state run central bank with funds allocated for the real tangible economy we wouldn't have this mess. People criticize China to no end, but how do you figure they were able to lift 800 million people (greater than EU population) out of poverty and eliminate extreme poverty in 20 years? | |||
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