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Off Topic The "Discuss Anything Else" Thread

Discussion in 'Horse Racing' started by OddDog, Jun 23, 2013.

  1. Bustino74

    Bustino74 Thouroughbred Breed Enthusiast

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    I don't watch GB news other than at my brother-in-laws and he's a socialist as far as I wish to discern.

    But what is CBBC? And which is the more dangerous?

    What is white privilege? - BBC Newsround
     
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  2. Bustino74

    Bustino74 Thouroughbred Breed Enthusiast

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    So inflation falls to 4.6%. The medicine is working. Or is it? Could this be a case of successful operation but the patient died? If you look at a graph of money supply against inflation you'll see that money supply has dropped significantly. Any monetarist will tell you that that will cut inflation. Here's the comment from the IEA 10 days ago:-

    Last week the Bank of England’s Monetary Policy Committee (MPC) voted by 6 to 3 to keep interest rates at 5.25 per cent. However, the three dissenters favoured another quarter point hike.
    What’s more, Governor Bailey doubled down on the view that rates will have to remain higher for longer, saying ‘it is much too early to bethinking about rate cuts’.
    Perhaps he was responding to the Shadow Monetary Policy Committee (SMPC), an independent group of economists who meet at the IEA. At our last meeting we voted by 7 to 2 to cut rates.


    The IEA have consistently made the right call on inflation, publishing papers nearly 3 years ago stating that Inflation would be the UK's big problem because of too much money sloshing around. The BoE consistently denied there would be an inflation problem. Then the BoE used the blunt instrument of Interest Rate rises to quell that inflation that did come. There is no mention of money supply having reduced in the last 6 months by the BoE because they don't like to admit their policy of printing money caused Inflation in the first place.

    So the patient may die, because interest rates should have stopped rising months ago and should be dropping now. Bailey's says rate cuts might be thought about next year. The man's a joke and axe-man Sunak should get rid of him.
     
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    Last edited: Nov 17, 2023
  3. OddDog

    OddDog Mild mannered janitor
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    Sunak has lost his marbles with this Rwanda nonsense.

    At least they have a slogan “Stop the Boats” <laugh>
     
    #12363
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  4. QuarterMoonIII

    QuarterMoonIII Active Member

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    It was quite laughable that Sunak and Hunt claimed credit for the rate of inflation falling to 4.6 per cent when this was nothing of their doing. The Bank of England (BoE) caused inflation with 15 years of ‘free’ money (Quantitative Easing) and then had to raise interest rates to try and control it.

    The BoE has been a joke under the governorship of Andrew Bailey and his predecessor Mark Carney. I would not hire either of them to count a child’s pocket money. Carney has now moved on to the Net Zero lie.

    Unfortunately there is always a lag in the system when interest rates are raised or cut; and the BoE raised rates too late and too slowly; and it will cut them too late, creating the next dilemma that it is then expected to resolve. The BoE will probably just follow The Federal Reserve as that is what has happened historically. Currently it looks like Americans will face a choice between the last two incompetents at the next Presidential election: dementia-riddled Biden piling up more debt throwing money at green subsidies or Trump planning protectionist tariffs that will sink the global economy.
     
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  5. Ron

    Ron Well-Known Member
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    This Starlink really is amazing. We currently have it just sat on the top of our horse box (not fixed) and it has worked a treat, including all through the worst storm ever recorded in our area which caused destruction of large trees, telegraph poles, buildings and knocked out over 1m homes for a few days. Elecricity, telephone services, including mobile networks went out. Whilst mobile networks were down we still could still communicate via wireless network (as we escaped the electricity outage)/ My daughter's internet is via fibre optics but that was down

    What is so great is the mobile app used to set it up and monitor its performance. Eg you can see a picture of any obstructions, however minute and you can see how it is performing (eg apparently we lost signal for a total of 12 secs in the last 12 hours) and loads more

    I can can definitely recommend Starlink if anyone is considering it, especially if you are in remote areas
     
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  6. Bustino74

    Bustino74 Thouroughbred Breed Enthusiast

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    I saw a good explanation of QE. It said it was like backing both horses in a 2 horse race and them being joint favourites at 6 to 5 ON: they were always bad bets. Unfortunately when you go in the other direction to QT (Quantitive Tightening) you find (like when you cashout) you get even less for that bet.
    QE had its place in 2008/9 but it was always overdone.
     
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    Last edited: Nov 21, 2023
  7. floridaspearl

    floridaspearl Well-Known Member

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    That’s the problem with globalist central banks. Argentina voting for a conservative government will put their economy on a stronger footing.
     
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  8. OddDog

    OddDog Mild mannered janitor
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    <laugh> the guy is an absolute lunatic
     
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  9. QuarterMoonIII

    QuarterMoonIII Active Member

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    Quantitative Easing was an experiment that Japan tried in the 1980s. It was an horrendous failure. Japan has suffered forty years of stagflation since despite having one of the most advanced economies in the world.

    Why the Bank of England thought it was a good idea to start it 15 years ago is beyond me. The were forced to bail out the banks by Gordon Brown but once the country got addicted to ‘free’ money they did not stop. It was always going to lead to inflation, especially after Bolshevik Boris and Socialist Sunak went on a spending spree after 2019 and during the plague.

    By next year I imagine that everyone will be fed up of hearing Starmer and Reeves starting every soundbite with “thirteen years of Tory economic failure” but I am sure they will change it to “fourteen years” in the new year.
     
    #12369
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  10. QuarterMoonIII

    QuarterMoonIII Active Member

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    I love the idea that they have voted for a ‘conservative’ government in Argentina.

    After decades of Peronist failure that has resulted in inflation of over 140 per cent, a populist has come along and got elected 56-44 and they think he is going to fix everything. The guy that lost was the Economy Minister Sergio Massa. John Curtice will be along in a minute to tell us how the polls never saw this one coming.

    Did Javier Milei promise that Argentina would win the next World Cup? That appears to be the sort of thing that actually matters to the Argentines. His opponents branded him a Trump sympathiser and a climate denier but he proved the polls wrong. There is an irony here in that his 56 per cent of the vote was the most by any candidate since democracy returned to Argentina in 1983 (after some skirmish in the South Atlantic) but his vote was boosted by the youth vote after the Peronists lowered the voting age. The working classes and the young voted for a liberal as liberalism implodes around the world.
     
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  11. QuarterMoonIII

    QuarterMoonIII Active Member

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    Get rid of the Tesla or whatever expensive EV you were mug enough to buy...
    Get rid of your petrol car...
    Get yourself a diesel:

    AsdaPrice_20231121.jpg
    The taxman only gets 4p per litre <laugh>
     
    #12371
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  12. Ron

    Ron Well-Known Member
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    Not as expensive as it may appear QM, if you have a business, a decent accountant, a bank that gives "cash back" on every penny that goes through the account, and buy your own "fast charger"; Surprisingly good vale
     
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  13. stick

    stick Bumper King

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    Free electricity!
     
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  14. Ron

    Ron Well-Known Member
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    ? Where from

    We worked out the cost per 600km using your own fast charger. Can't remember off hand but it was a tiny fraction of the cost of filling up your tank, even with a hybrid

    Personally, although the range of electric cars, especially the new Tesla (which out performs the new BMW just launched and better in several ways) is improving all the time (600km) I would still prefer the optional fuel back up, just in case
     
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  15. NassauBoard

    NassauBoard Well-Known Member

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    We have one of each. The electric is much better. Typical leftie
     
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  16. stick

    stick Bumper King

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    solar Ron
     
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  17. OddDog

    OddDog Mild mannered janitor
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    I hate driving, haven't had a car for years. If I need one in Berlin I use a car sharing app (Miles) which has brilliant coverage and lots of cars available. When my son moved out into his own apartment (OK only 3.6km away) we did the whole move with a Miles car - An Audi A4 estate. Back seats down, chucked everything in, drove to his place and unloaded everything. The car cost me €6,50. Absolute bargain. Longer journeys I always prefer taking the train (or plane where necessary) and if I need a car at the other end I rent one. I find the cost of buying and running a car ridiculous and I am very lucky I don't need one in Berlin. Unfortunately our towns and cities have developed in a way that the vast majority of people need (or think they need) a car as public transport is not where it needs to be. We have become slaves to the bloody things.

    On public transport - I grew up on the outskirts of Sheffield. In the 1980s there were loads of busses and you could get anywhere pretty damned quickly. As more and more people bought cars (and therefore stopped using busses) the services were gradually thinned out ultimately meaning that those who are dependent upon public transport (those who can't afford a car, or can't drive or are too old to drive) are actually penalised for other people's increased wealth and personal mobility. During Covid in 2022 Germany tested a monthly ticket for all local and regional trains in Germany that cost only €9 per month - you could literally go anywhere with it (but obviously not on the fast express trains). It was a huge success and goes to show that if public transport is affordable then more people would actually use it and it would unclog the roads.
     
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  18. Tamerlo

    Tamerlo Well-Known Member

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    Oddy, in the sixties and seventies, Sheffield had the cheapest bus services in the UK. Buses were subsidised to an extraordinary degree.
    I used to catch a bus from London Rd to Bradway for only 6p- a journey of 6 miles.
    Mind you , Tetley’s was only 9p a pint in 1970.
    As a comparison, beer is now about £3+ a pint in Nuneaton but, before my OAP bus pass 10 years ago, I paid £7.50 to bus it to Coventry- about 9 miles away.
     
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  19. OddDog

    OddDog Mild mannered janitor
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    8000 worked at Stocksbridge steelworks in those days Tam. I think it’s a couple of hundred now.
     
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  20. smokethedeadbadger

    smokethedeadbadger Well-Known Member

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    I don't know how people manage without a car. We've been without one since ours blew up nearly two weeks ago and it's a bloody nightmare getting kids to and from school.
     
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