Longest, Deepest Recession in History?

[Mortblanc]

That is what I just read the BBC is reporting the BOE is anticipating.

Not the worst this decade, not the worst this century, not the worst since the Great Depression years or the post war austerity, but the deepest in history.

Over here it's mid term elections and they won't even talk about it!

[Straight Shooter]

A. Do you believe this report by the BBC ?
B. What action are you taking or are you proposing to take as a result of this report ? If any that you are not doing anyway at the present time .
C. You seem to be surprised that nobody is talking about it over there because of the mid term elections why do you think that is ? .

[bigpaul]

I never take for granted anything the BBC says.
they'll probably try to blame it on Brexit such is their bias, when other countries are having the same recession and rising prices.

[Mortblanc]

I believe that is what the BBC reported, but not necessarily what the BOE intended to say.

In reading the article I noticed that they are anticipating a 6% spike in interest rates next year. In my own adult lifetime I have seen interest rates at 20% so 6% seems mild to me for the worst ever scenerio. I have also seen inflation running at 20%, so I am not alarmed at your possible plight.

As for me, I took all of the available precautionary steps over a decade ago during the 2007 bubble burst. I hit a high point in earning power just before retirement and paid everything off. Not just commercial credit but land and vehicles. With retirement my spending was trimmed back and expenses with it.

The food and equipment preps are always there in case the bottom suddenly falls out or the governments decide to shut the world down....again!

As for the political system over here???? Almost all of the "officials" are living in la-la land, separated from reality and having nothing in common with the common man. They have lied so much and for so long that they now believe what they are saying. It's almost like living in London!

We have a general election on Tuesday. We vote for many local and regional officials and for some of our national representatives. No one in any form of the media is going to report a worst case scenerio that might be a negative blow to the current liberals. So we would get no frightening if the world were splitting in half and magma flowing freely.

This Mid-term election is considered a report by the people on how well they feel the current admin is doing. This year everyone will scream that the election was rigged, stolen, polluted or hacked and much recounting will occur until the party that controls the ballot boxes in each neighborhood gets the count they want. After that they will sit and contemplate their navels for a week or so, then continue as always.

The real excitement this election is that our Supreme Court has reviewed some of our national laws and declared that they are not national, but State controlled. The individual states have scamper about to get these gaps covered.

In turn, the Court also decided that many of the State laws were actually Federal jurisdiction and the State and local governments have no say in them, and can not preempt them. That has upset some very much, since those laws cover firearms restrictions. They are having a difficult time accepting the fact that you can not enforce an illegal law.

[bigpaul]

when I bought my first and only house back in the early 70s interest was 15%, 3% sounds like pocket money.
of course most people these days live well beyond their means so any increase will wipe them out.
not my problem.

[Straight Shooter]

For what it’s worth MB your post is pretty much like a mirror and reflects what’s going on over here ! …..is it by chance or coordination of a set plan ? Who knows ? Is it possible that so many (leaders) are brain dead and live in a world of their own ……where are the future leaders? I can not name you one no matter which colour flag they are running under , they all follow one flag of deceit ,lies and bullshit ! .

I speak to many family and friends in our age groups , most like me they will never vote again , there’s no valued reason in doing so …..besides it makes not a jot of difference ( NO MATTER ) who you vote for or which party .

You only need look at the latest fiasco over here with prime ministers playing musical chairs ! We have become a laughing stock !……most people over here just don’t give a fuck anyway they have had enough and simply can not be bothered to put up any fight or push back …….but they will it’s one thing to tax your fags and booze but food ,fuel ,electricity , rent , mortgages and heating fuels and god knows what else they dream up , will not end well who ever is holding the baby ! ….it will be no good trying to hang the blame on world events or Putin ……when everyone realises it’s down to the Bankers and all the politicians that carried out their bidding , it’s no wonder they are building bunkers ….there will be no hiding places ! There are many of us and few of them …..and they know it ! That’s why nuclear war grows ever closer , the more they loose ground and get even more exposed for what they are ! Just my opinion .

[bigpaul]

pity we cant get everyone, and I mean EVERYONE, to not vote at the next general election, that would put the cat amongst the pigeons wouldnt it, no party would have any legitimacy if no one voted., or mark your ballot papers "none of the above" which would amount to the same thing.

[CharlesHarris]

Reading what makes the news here, it seems that the natives are restless and that the government is incompetent.
Forum has been quiet. Would be interested in SITREP and to know if all hands are OK. Keep buggering on.

[Straight Shooter]

Charles I think the reason for the forum being so quiet is a mix of main media bombardment of constant bad news , everywhere you look be it TV Radio news papers internet ……in short everyone is waiting on tshtf …..not realising it started a few years back , it’s only now that the pennies are starting to drop ! Confidence in the present and the future is draining away in many boardrooms , a sweet smell of the brown stuff wafting through the air , some spray Fabreze air freshener in a attempt to cloak the smell ……but people are sitting up and taking notice and wondering why net zero is so important and why they can not eat or heat their homes or pay the mortgage or rent ? By the time people realise what’s going on and get with the programme …..it will be to late …..game over !

Except yours truly ….I will be pigging out on baked beams on toast , omelettes , fresh veg , meat pies , spam , ham , honey, wines and the finest single malts known to man .

[CharlesHarris]

SS I like your plan and assessment. Similar situation here. We are well prepared and have no financial issues.
Those who are in distress have over extended themselves and are trying to maintain an illusion of prosperity. We are better off modestly retired in the Potomac Highlands than are those sucking the government teat inside the beltway, or along the Mexican border or west coast. Biden ignores the border, but my retired Federal agent friend in Del Rio, TX says that it is open warfare down there. Mexico is a failed state run by the drug cartels. Even Mormon kids in Utah are dying from the poison being smuggled in.

The government debt escalating will be our ruin. I won't bore you with our politics other than to say that our leaders are as incompetent and feckless as yours and that we have nothing to he proud of. Fortunately here there is little crime because it isn't tolerated. An armed society is a polite society. No permit is needed here to carry a pistol or revolver, so I do most of the time.