RE: Walked Down3 Jul 2024 10:12
No harm in a little off-piste discussion, while this name is treading water.
Lock downs were a political choice. Yes, the red lot would have locked down harder and for longer, but the Tories have abandoned the values that they are meant to stand for and indeed did so many years ago.
Perhaps since they dumped Maggie, who IMO was the last leader they had worth voting for, and certainly the last one who you could credibly claim was a free market, small state, pro business capitalist.
Now it is all about the big corporates and everyone else, including small business, has been actively hindered. Again, another political choice.
Like across the Pond, the only real jobs growth now is happening in the public sector. This is not sustainable, nor are the global debt to GDP ratios. Nor is the de facto open door immigration policy of the past few dacades.
Just because many of the houses in your street are ablaze, does not mean you should take comfort that your one is too.
Inflation is also a political choice, as well as being a tax.
BoE chose not to raise rates for the best part of 12 years, which is the primary reason for the various asset bubbles we have right now, including the housing market.
They are meant to be independent.
If they really were, then I cannot see the justification for this policy decision. Even if you just blame Carney for that, then Bailey should have raised rates in late 2020, to reduce the risk of the inevitable high inflation that happened after. But naturally, they raised too little, too late.
The question now is what happens next? Another phase of high inflation, a la 1970's, or a deflationary bust?
Of course, war is inflationary too.
And the one we have decided to involve ourselves with is also a political choice. Whether you support one side or the other in principle, how far are you willing to go in that pursuit?
Unless I see our politicians serving in the front line, along with their children, nephews and nieces, then all I see is another costly and dangerous exercise for the 99%.
But a very lucrative exercise for a small number of people, of which I (and presumably all of the other posters here) are going to pick up the tab for, not be beneficiaries of.
Anyway, nice to be able to have a free and frank exchange of ideas. And I agree with some of the points that you made in your post, Saintge.
Back on topic: I have set a couple of buy orders here, but with the GE election tomorrow, this is a day for generally keeping back plenty of dry powder IMO. GLA.
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