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Mick-b

Respect.

Mr Sunak he says under 14 yrs Tory rule things much better. Maybe he need the specsavers. This Govt from any metric it been the disaster.. I wonder how our paper tiger army will cope if the push it comes to the shove...

Morning Bros.

Whatever your politics is bros remember this one that every problem offers an opportunity.

We know who next PM will be what the agenda is with that one so invest accordingly.

The conflict in Ukraine is on collision course with NATO and the is the middle east is another powder keg that one.

Kissinger he once says..

"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world"..

As for the USA he says ..."America has no permanent friends or enemies, only interests"

We got to stay sharp. Politicians they say all is well ... What we know is they is heading for the rocks.

What do we know about the derivates market. Seems a bit of the wild West that one.. Some banks got a lot of skin in that play. Over $200 trillion in total.

France kick off what time on the Sunday ?🤣🤣🤣

ATISHA..

That is the case no doubt with that one .. But the ruling elite also realise to conquer they first they must divide...

Generation against generation seem fair game to them... Pensions they remain the low hanging fruit.

Classing the pension as a benefit doesn't somehow seem right to me....

On another topic I recall what Henry Kissinger he says..

"Far too often the Ukrainian issue is posed as a showdown: whether Ukraine joins the East or the West. But if Ukraine is to survive and thrive, it must not be either side's outpost against the other - it should function as a bridge between them".

Morning Bros.

I was looking at the article in todays Telegraph

"Old, rich and living on benefits: welcome to the state pension capital of Britain"..

Non Paywall.

https://www.msn.com/en-us/money/personalfinance/old-rich-and-living-on-benefits-welcome-to-the-state-pension-capital-of-britain/ar-BB1p8yjH?ocid=BingNewsSerp

This paint a grim picture of the cost of pensions to the state. The budget it higher than NHS. At the face value unaffordable.

But to my mind this not the whole story.

"Spending on old age health and pensioner benefits combined will total £270bn in 2024-25..1/10th of Uk economy..

Those pensions although paid untaxed still count towards your personal allowance anyone with the private pension will be paying the tax. Plus how much they spend of that money locally.? This pay VAT and wages..in local shops, garden centers, local tradesman etc etc.. So the net cost.? Well that not mentioned.

As UVL she say the truth is the most dangerous problem... She is right but for wrong reason...

Asp

Please include the French election on 7th... Be chaos if LePen she win... EU will have the hissy fit..

Its what we not know which more important. Wars aside Japan economy going down the plug hole..

hu

7 ps .... (proper planning and preparation prevents **** poor performance). not forget unlike you i still have some skin in this play..

keltickilla.. as per the covid...

"world headed for shortages warns biggest commodities trader"

https://www.youtube.com/watch?v=ttmh0wcvbgw

we never been so close to a major conflict , if it come to that who know what happens?

Afternoon Bros..

Nice early finish today..

BoE sending out the bad vibes

"https://www.cityam.com/market-prices-vulnerable-to-sharp-correction-bank-of-england-warns/"

"The Bank drew attention to a couple of risks which could knock markets, including the “material” risks in the US commercial real estate market. We talk out CRE risks a while back... France another one to upset our apple cart.

LeeRex .. you have all the dots just need to be join them.. Norway and Germany stockpiling food. First sign of a major problem and food might be difficult to shift around the globe.

Re hack.. yep Qilin group responsible. Santander hack more interesting group.. But is flagging up the problem.

I keep more cash to hand and gold. Food stocks in the cupboards higher than normal also. No harm in being prepare just incase. You know what I am saying..

TFE

Respect . More to do with the fiscal drag.. people being dragged into the tax net. Mr Brown he would be so proud. Paying tax also on minimum wage is not to my mind fair...

AISHA

Respect.

Mr Biden. He remind me of my old physics teacher. Both talk for two hours and I've no idea what they is saying...😂😂.

I don't thing this look so good for America..

Hamish de Bretton Gordon article

https://www.telegraph.co.uk/news/2024/06/28/biden-is-a-danger-to-the-west/

Morning Bros

Biden was a disaster last night. How longer this go on..?

Respect ...TFE good reply but I really meant paying tax on a decent interest rate was good for the economy and the investor. How much did zero rates lose the treasury in tax on interest..

..........Yesterday HMRC data it show.

During the Tories’ 14 years in office, an extra 2.5 million pensioners have been dragged into the tax net. This mean the number of pensioners paying income tax has risen by 42pc since the Tories came to power...

Also the number of 45pc tax payers is this year expected to surpass 1 million for the first time...

HMRC’s figures also show that there are 4.4 million more taxpayers compared to 2021 ...

This Govt Tory in name only.... Plus services are being slashed all over the place.....

Evening Bros..

Couple of the interesting articles..

Debt as we know at the eye watering levels

Dan Coughlin..

"Countries drowning in debt: How does the UK compare?"...

"Global debt soared to a record $315 trillion (£248tn) earlier this year. That's more than three times the world's GDP, according to the Institute of International Finance (IIF), which tracks indebtedness across advanced and developing economies.

Shockingly, the last time global debt was this bad was during the Napoleonic Wars, more than 200 years ago"..

The article continue.....

2nd is the tax on savings...

"HMRC set to rake in £10.4bn in savings interest tax this year"..

HMRC expects an extra £3.8billion in revenues from savings tax this financial year, its latest figures show.

"The amount of tax savers pay on their savings interest will climb to £10.37billion in 2024/25, up from £6.6billiion in 2023/24, new estimates show.

That's an increase of almost £3.8billion - a 58 per cent jump in the course of one year".

https://www.msn.com/en-gb/money/other/hmrc-set-to-rake-in-104bn-in-savings-interest-tax-this-year/ar-BB1oZTKl?ocid=BingNewsVerp

Is a good thing ? I think so...

"Britain’s biggest lender tells homeowners ‘new normal’ mortgage rate will be 4.5pc"...

"Charlie Nunn, the chief executive of Lloyds Banking Group said that after a decade of rates between 1.5pc and 2.5pc, the expectation in the markets was that the Bank Rate would not drop below 3.5pc".....

Is quite a bold statement that one given the macro. But if he is right its a good deal for both the savers and the borrowers.

https://finance.yahoo.com/news/britain-biggest-lender-tells-homeowners-083238458.html

The politicians they forgot what made this the great nation . King coal and the heavy industry..

is a funny thing also .. The consumer want cheaper EVs. Yet EU putting the 38% tariff on Chinese ones to protect its own car industry...I get this but which is the more important jobs in Zwickau or as they keep saying is an emergency to be saving the planet?

Things as I sees it getting worse and worse. Al-Shabab looking to join the fight along with the Taliban against Israel. US going to have a problem not letting this one explode in their faces. What effect this have on Uk economy and in turn the banks we will have to sit tight and watch. Trade already very disrupted as Red Sea looking the no go area for shipping.

Erdogan yesterday he saying Turkey it stand with Lebanon...Turkey as we knows a big player and not the 100% reliable as a Western ally....

MV

Evening Bros..

Respect..Let me help you a bit with this one..

"A figure in the Labour party said that to de-carbonise the UK would cost hundreds of Billions"..

US alone a figure of $1.2trillion dollars was quoted at a senate hearing.. Senator Kennedy bossin this one. He says some important things.. This whole Decarbonisation thing imo is a scam..

https://www.youtube.com/watch?v=JHJeVh88oxU

"

Morning Bros..

This is Interesting article on what Labour might do...

Overall is quite good...

"Consumer-focused lending under Labour could dent UK bank profits"...

"While an incoming Labour government may lean on banks to widen their mortgage range, analysts and senior executives at big British banks agree it is now unlikely to pursue bank windfall taxes, a policy championed by the party's previous leader Jeremy Corbyn.

Nor is it expected to overhaul how the Bank of England pays interest to banks on their deposits, another policy mooted in recent months by politicians, the sources said.

Data published by the British parliament's cross-party Treasury Committee in May showed NatWest, Barclays, Lloyds and Santander UK (SAN.MC), opens new tab received more than 9 billion pounds in interest in 2023 – a 135% increase year-on-year".....This continue

https://www.reuters.com/world/uk/consumer-focused-lending-under-labour-could-dent-uk-bank-profits-2024-06-21/

Just for the interest had another begging bowl letter from Alan Mabbutt .. Tory fund raising. Checking the figures he sent the lack of funding for the Tory campaign tell us all we need to know.

Labour £4,383,400

Tory £292,500

Reform £742,000

Electoral commission site..

https://www.electoralcommission.org.uk/media-centre/over-ps58m-received-political-parties-and-campaigners-second-week-campaign-0

STP

Respect but Farage is a lot of things, a traitor, I don't see this. Without his effort we still be stuck with the crumble EU. Is turning into a disaster that one and the people they know this. Hence they turning to the right for help.

Farage will only work best with Trump in power. They would be a good team for the UK. The Trade deals they be done overnight and Trump would soon sort out the EU..

We just has to see what happen next... As things stand Starmer has the ball at his feet with an open goal 3 of the yard in front of him...

Afternoon Bros on this lovely sunny day..

Japan's Norinchukin Bank in the spotlight, having to sell $63bn of U.S. and European bonds asap. Got itself in the hot water , who else in the same situation....?

Bank's fiscal 2024 loss expected to reach record-high $9.5bn 😫😫

MV

Respect. yes NATO determined to push border up to Russian border. Farage is spot on but the media they not see this.....

US foreign policy all gone a bit odd over the past decade... Certainly our enemies are seeing this thing...

Ricky.

You is funny Bros. I like the optimism... You could say at the best we go totally more broke slowly....🤣🤣🤣Labour soon sort that one ...

"The ONS also discovered that public sector net debt as a percentage of UK GDP (gross domestic product) climbed to 99.8% the highest level since March 1961. Prime Minister Rishi Sunak pledged to reduce debt as one his five commitments at the beginning of 2023"...

Evening Bros..

As some is already the speculating...

"The Britons who risk bearing the brunt of Labour’s tax rises"... non paywall

https://www.msn.com/en-us/money/personalfinance/the-britons-who-risk-bearing-the-brunt-of-labour-s-tax-rises/ar-BB1ow3JP?ocid=BingNewsSerp

Houthis now sunk the two ships and 90% traffic rerouting. US looking a bit lacking with this one..

EU totally losing the plot with threat of "France and six other countries should be disciplined for running budget deficits in excess of EU limits"..

They forgot this thing. There is a war on their doorstep no time for watching the Euros...😂😂😂

Latest poll looking a total wipeout for Tories..

TFE

Bros ... Can you tell me please when was the last Govt that benefitted the country ?. As I recall we seem to be needing to be voting the incumbent party out for its failings.. This parties has been the shocker.