Member Info for nomlungu

He claims that the extra cost of servicing GOV debt in Q1 this year was the same as it would cost to end the 2 child benefit cap... If true then it gives an idea of just how much fiscal headroom will emerge if interest rates fall this year.

A Different Bias: "Labour Hint at Public Sector Pay Boost"

https://www.youtube.com/watch?v=9xZblCSBdFM

Phil is a good political YouTuber; clearly left bias but he knows his onions...

Troajan,

It is politics... They are 'rolling the pitch' for the next election; Rule 1 is to paint as dystopian inheritance as possible. If things are cataclysmic then any improvements can be heralded as heroic acts by the incoming GOV.

Reality - the economy has been showing signs of improvement that will feed through into higher tax revenue and, more importantly, as long as there is no new economic shock, interest rates will be coming down so debt interest will drop, possibly quite significantly. And, they avoid economic damage of protracted strikes by making an acceptable pay award.

And, when you make a 5% pay award, you get close on 40% back in direct taxes and more in indirect taxes.

Of course if you are worried about thieving GOV nicking your pension invest in a safe and put your money in gold and silver [and canned food and bottled water]. Pigeon curry is also an option...

I wonder what party they voted for?

https://x.com/CrimeLdn/status/1814719082018574488

Having the EMA's HQ leave King's Cross was disastrous to the Life Sciences; nearly as bad as cutting the City of London out of Europe's financial markets. 2 of the most valuable parts of the economy were sacrificed to keep the Conservatives in power and to kill the threat from Farage.

That worked out well...

The Heritage Foundation wants FDIC to be banned; the plan may not be part of Project 2025, but they [the Heritage Foundation] are the people behind Project 2025. If there is no deposit protection, then it would be reasonable to expect the 'man in the street' to hold more gold. With around $10 trillion in FDIC protected accounts, that could be much, much more demand for physical gold.

From Perplexity:

The Heritage Foundation takes a critical stance on the Federal Deposit Insurance Corporation (FDIC). Their primary concerns revolve around the following points:

1. **Market Discipline and Moral Hazard**: The Heritage Foundation argues that government-backed deposit insurance, such as that provided by the FDIC, weakens market discipline and increases moral hazard. This insurance can lead to higher financial risks within the economy because it diminishes the incentive for depositors to be concerned about the soundness of their banks[2].

2. **Financial Stability and Risk**: They believe that the FDIC's insurance policies encourage risky loan practices by banks. By providing the same insurance premiums to both prudent and reckless banks, the FDIC inadvertently promotes riskier banking behaviors, which can jeopardize the entire banking system[3].

3. **Reform and Privatization**: The Heritage Foundation suggests that significant reforms are needed in the federal deposit insurance system. They propose reducing the federal deposit insurance coverage to pre-Savings and Loan crisis levels and consider the possibility of replacing the FDIC with private insurance for bank deposits. They argue that private insurance could potentially provide a more stable and disciplined banking environment[4][5].

4. **Historical Context and Criticism**: The Foundation also references historical criticisms of the FDIC, pointing out that even President Franklin D. Roosevelt had concerns about the moral hazard associated with taxpayer-backed deposit insurance. They argue that high levels of government involvement in deposit insurance correlate with increased bank failures and financial crises[5].

Overall, the Heritage Foundation advocates for a reduction in federal deposit insurance coverage and suggests exploring private insurance alternatives to mitigate risks and promote financial stability.

Citations:

[1] https://www.fdic.gov/resources/regulations/federal-register-publications/2011/11c02ad73.pdf

[2] https://www.heritage.org/markets-and-finance/report/deposit-insurance-bank-resolution-and-market-discipline

[3] https://www.heritage.org/government-regulation/report/how-reform-americas-banking-system

[4] https://www.heritage.org/government-regulation/report/replacing-the-fdic-private-insurance-bank-deposits-england-catherine

[5] https://www.heritage.org/markets-and-finance/commentary/the-other-glass-steagall-the-fomc-and-the-fdic

⚠️ Update: Network data show #Bangladesh has now been offline for over 48 hours after authorities impose a nation-scale internet shutdown in a bid to quell student protests ⏱️

https://x.com/netblocks/status/1814698509112623270

Preliminary reports suggest Israel behind Yemen strikes

https://www.youtube.com/watch?v=SvJpnEJKvm4

Blue,

This link to the video on YouTube will work

https://www.youtube.com/watch?v=mfyiSk8Rjc8

Mrs. Betty Bowers, America's Best Christian

https://www.youtube.com/watch?v=XJC9kFtEMps

George Conway has his say: "Introduction to the Anti-Psychopath PAC"

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

One of many:

https://www.psychopac.org/

"Voters have forgotten one important fact: Trump is f**king nuts."

"Remember only two schemes will get funding."

Also worth remembering that the scheme was designed by the previous GOV who were in hock to the big players who would like to see H2 added to the gas network so they do not end up with stranded assets. It is not a cost effective option; do not be surprised if a competent GOV acting in the national interest decide that these plans offer insufficient value to receive taxpayer support.

The round trip efficiency of using power to create H2 to then store it and use as power when needed is too low (around 30%)...

'Bangladesh imposes curfew after dozens killed in anti-government protests'

https://www.washingtonpost.com/world/2024/07/19/bangladesh-demonstrations-police-hasina/

Sabine Hossenfelder did a good YouTube video about Hydrogen in Germany; anyone thinking that UKOG are onto a winner should watch it:

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

She is a clear example of how dangerous it is to get smoked by a lettuce.

Mick,

'To have a party at the polices expense.....imo'

No, but your comment 'Blame social media' is probably more accurate. Getting viral footage and a Social Media following is one of the best 'get rich quick' schemes around these days. And, if you are from one of the poorest parts of the UK then getting a few grand is like a small lottery win.

Mick,

'Taiwan better be taking notes.'

The article after the battery article on IEEE is titled:

"SEA DRONES IN THE RUSSIA-UKRAINE WAR INSPIRE NEW TACTICS - Navy planners see a defensive role for drones in a China-Taiwan war2

https://spectrum.ieee.org/sea-drone

'Nyobolt has harnessed a redesigned Lotus Exige, the Elise’s hardtop cousin, to claim breakthrough DC charging times of 5 minutes or less.'

https://spectrum.ieee.org/ev-charging

As impressive as the fas time charge is that they were able to run the batteries to zero and then recharge, which is not what you do to a regular lithium battery. They have a version of the battery suited to mining [or so it is claimed]... fast charging = less downtime = fewer machines required= win, win, win.

https://nyobolt.com/industrial-and-robotics/

Type in Morse code by repeatedly slamming your laptop shut

https://github.com/veggiedefender/open-and-shut