I still don’t think many people have clocked how massive this story actually is.
Thames Water is carrying £19.8bn of debt, up 2 billion in a single year, and it will run out of money before Christmas.
£19.8bn against 16 million people who cannot switch, can’t leave, and cannot stop drinking water.
That’s about £1,240 per head. 5 grand for a family of four. In some way, shape, or form, they’re on the hook for it.
That’s the part that I don’t think has landed yet. This isn’t a story about sewage in the Thames, or bonuses, or another regulator caught asleep. The actual event is 30 years of a monopoly being used as collateral by people who knew its customers could never walk away. The bill has now come due… and it’s a big one.
The pipes and the infrastructure were never the real asset. The 16 million captive water drinkers were.
What’s going to really sting is the fact there’s only two ways this gets settled. Your bill goes up, substantially, or your taxes do. Most likely both, and it’ll be on a schedule designed in a way so you don’t notice the hit, in an attempt to suppress the rage you should rightly be feeling.
And before anyone tells me the creditors are taking a 30% haircut, look at what they’ve asked for in return. Fines waived until 2030. Pollution targets “significantly modified.” Bills raised above what the regulator allows. That isn’t exactly them eating the loss now, is it. That’s them buying a regulatory holiday, on debt most of them bought at distressed prices.
Nobody voted for this, nobody borrowed it, and nobody saw the benefit of it. The debt was loaded onto a captive customer base over 30 years and paid out to shareholders who have long since gone.
16 million people are about to find out that they co-signed something they were completely unaware of.
Now, this is what should worry us all. Thames isn’t a rogue outlier, it’s just the first one to fully hit the wall. English water carries north of £60bn of debt. Southern is already junk rated, needed a £1.2bn rescue from its shareholders, and its customers are looking at a 48% bill rise this decade before you count what the CMA added on top. Every one of these companies borrowed heavily when money was free and now have to refinance it all in a world where it isn’t, while being told to spend billions on infrastructure they left rotting for 30 years. Thames is just the first and most visible of what will likely end up being a line of dominoes.
Maybe Burnham nationalises Thames Water. But ask yourself… how many more will need to be nationalised? And who do you think pays for that?
When Cape Verde started taking control, every major decision suddenly went Argentina’s way.
When Egypt looked ready to go three goals clear, the referee found a reason to wipe one off.
When Switzerland threatened to complete the turnaround, a Swiss player was conveniently sent off.
You can look away all you want, but the pattern is becoming impossible to ignore. The favouritism is glaring, and the stench of corruption is everywhere.
Y'all know how they call certain basketball players "professional scorers"?? That's Jada when it comes to this rap shit. Just pure bars. A walking bucket, if you will........
Everyone on Linkedin should be watching House of Dragons.
They keep dropping Career Gems.
In the last episode Rhaenyra blessed us with the best auto email reply, that I will be using going forward
"I am awash in dilemmas and deficiencies. Let me find my footing and I will attend to your request."
Whoever wrote that line…I know your pen was on fire.
Not enough people remember this. Infantino hand selected Inter Miami to participate in the Club World Cup. Not the MLS champions, but Inter Miami.
They’re the only team that didn’t have to qualify
DECLARAÇÕES FORTES!
Após o apito final, o técnico do Egito, Hossam Hassan, fez duras críticas.
🗣️ "Vou dizer o que penso independentemente das consequências. Esta foi claramente uma partida manipulada e o mundo inteiro viu isso."
🗣️ "E quero dizer mais uma coisa: se eles querem tanto que a Argentina vença, por que chamam todo mundo para vir e participar?"
Corlys had to remind Rhaenyra she and him both some Bastard Bearers. I had to drop the “Ether” beat over this scene for dramatic effect #demdragons#HOTD
Madame Celeste Amarilla,
Vous êtes une femme méprisable et indigne de sa fonction.
Vous ne représentez pas le Paraguay, ce pays qui a transpiré la passion et l’honneur tout au long de la compétition. Par votre inconscience et votre racisme décomplexé, le monde entier a déjà oublié le parcours et l’effort historique que vos joueurs ont réalisés durant cette coupe du monde pour laisser place à une dame incompétente donnant la pire image possible de son pays.
Je ne laisserai jamais aux gens comme elle, la liberté de laisser propager leur haine et leur racisme à travers le monde.