RE: Covid..4 Sep 2022 19:44
How kind of you Ghia. Would you say the same to the landlords of the 70% of pubs currently on course to go under in the next 6 months?
Do you remember when Boris promised the party he'd cut higher rate tax to get elected? I'm not sure the party does - possibly because a lot of them have died since then and half of the rest don't have the memory skills. Or the ability to change their minds since the late 70s.
Truss will now U-turn and borrow a hundred billion or more, condemning the young to spend their lives paying for the profound failures of the old to fix the roof while the sun was shining. As we already have been, given our total failure on productivity and the slide into rentier neo-feudalism. And assuming we stave off total collapse.
The free market for energy is over now. Capitalism did more to improve living standards across the world than any system ever invented, but we always have to push it too far, don't we? Just hardwired that way. I'm not sure opening up licences for energy that will take 10+ years to come on stream and cost far more than we can already do with solar and wind adds up, does it? But then perhaps we have a steel problem. They bin steeling too much :)
I can tell you from my experience of 70+ startups, no entrepreneur has ever been motivated to create value by a cut in corporation tax. It is another sop to the folks who own everything, that's all.
I am not quite as pessimistic as this but it's a better analysis than you'll ever read in the oligarch press: https://eand.co/this-winter-collapse-is-coming-to-britain-72ace84ab0b4
As Lewis said, it's not catastrophising, it's catastrophe. Denialism meets reality, and reality bites.
IMHO SNG is relatively well placed to weather the storm, assuming the system survives. Especially since we're only valued at slightly more than our cash. But anyone who thinks they can laugh at the proles from their ivory towers has got another think coming. Things are going to change. One does not simply walk into Mordor :)
https://www.youtube.com/watch?v=Nyvxt1svxso