50 something with almost 40 years in the markets under my belt. I like to use charts and models & am more of a pragmatist the older I get. Views are my own.
In 1922 the British Empire was larger than at any point in history. It extended to 24 percent of the total landmass of the whole world. At this time, the government had 300-350,000 civil servants. They had no computers, no electric typewriters, no calculators. Calculations that would take seconds today would take minutes or hours. Research that would take seconds today would take days and yet those 300-350,000 were able to do everything necessary to run a quarter of the planet. Today the British government employs 557,000 civil servants with computers and modern technology to run only Britain. I can’t help thinking that maybe we’re employing too many civil servants.
This month’s Prime Minister Andy Burnham @andyburnham has just announced he’s increasing foreign aid to 0.7% of GDP, which is £21 billion per year. Let me put that in context for you. The average amount of income tax paid per year by basic rate taxpayers in the UK is £2,700. So that means that nearly 8 million taxpayers in the UK are working all year ONLY to give their wages to foreign governments. There are 30 million basic rate taxpayers in the UK, so one in four people that you see working in restaurants or pubs, nurses, cleaners and many more are paying all of their tax to foreign countries. Countries like Pakistan that can afford nuclear weapons, to India that can afford a space programme, to China that can afford to buy the world, to Somalia that doesn’t have a government, only warlords. Etc etc etc etc etc. One in eight British basic rate taxpayers are paying all of their money not to schools in this country. Not for hospitals in this country, nor to fix the roads, nor anything whatsoever in Britain. Every penny goes abroad. Eight million people here giving their hard earned money to the British government who then give every penny away. Every single penny. So, if you’ve ever wondered why things aren’t improving in this country and wonder what happens to the money you’ve made from your toil and your sleepless nights of wondering how you’ll pay the next bill, that’s what happens to it. 8 million of you are working for foreign governments. Think about that.
Question for Mayor Khan. Why has he refused to stop the majority of cyclists in London from ignoring traffic lights. 1) He can't be bothered to continue to invoke 1933 Traffic act - insufficient police? 2) Its too expensive to legislate? 3) Does he believe it's not dangerous?
Fair play to @TiceRichard for giving the establishment media an economics lesson.
But more importantly, he asks the pertinent question:
Why did they relentlessly berate Liz Truss over the mini-budget, yet remain strangely silent now the markets are performing even worse under Starmer and Burnham?
If the markets were the test then, surely they’re the test now.
Funny how the rules change depending on who’s in Downing Street. 🤔
Cc. @UxbEconomist07@nigethugrug@TeagueRoger
🦔Delta's CEO said AI will boost profits by 50% by setting a different ticket price for every passenger in real time. The airline uses an AI system called Fetcherr that generates a unique price for each shopping request. Delta told Congress last year it was not using personal data for individualized pricing. Its investor presentation described building toward offers for "you, the individual." Airlines are exempt from FTC pricing oversight.
My Take
This is what AI does for a company like Delta. It doesn't make your flight better or your bag show up faster. It watches how you shop and figures out the most you'll pay before you close the tab. Consumer Reports found Uber and Lyft charging 42% different prices for the same ride at the same time, and the House Oversight Committee found one case where two people got quoted $76 and $24 for the same trip. Delta is building the airline version of that, and every carrier will follow because the economics are too good to pass up.
Walmart told us this week that families are choosing between gas and groceries at $4 a gallon. Delta's answer to those same families is an algorithm that squeezes them for every dollar they have left. Airlines are exempt from FTC pricing rules, state laws are preempted by federal deregulation, and the CEO told Congress one thing while telling investors another. When people ask me where the trillions going into AI actually end up, I think Delta just gave us one of the most honest answers we've gotten.
Hedgie🤗
How on earth did ‘Honest John’s’ business class return flight to Boston (even with Kentucky leg added on) cost £17,000!??!! You can do NYC return for £3,500 — FIRST CLASS!
UK 10 year gilts are now over 5%.
Under Liz Truss, they spiked around 4.5% and the media had a meltdown and demanded she resign.
Under Burnham, the media are silent on the issue.
You can’t hate the media enough.
Among the trees of Richmond Park lies a view so treasured that it has been protected for centuries.
From King Henry’s Mound in Richmond Park, a narrow opening through the trees frames the dome of St Paul’s Cathedral nearly 10 miles away.
The sightline is remarkably old. Maps from 1754 show a visual corridor towards St Paul’s, and generations of park keepers have carefully managed the trees to preserve it ever since.
Today, it is one of London’s few officially protected views.
Planning rules restrict development along the sightline so that the cathedral remains visible.
The mound itself is older still. Despite its Tudor name, it is believed to be a Bronze Age burial mound, later used as a viewpoint for hunting and falconry.
From prehistoric burial place to Georgian landscape design to modern planning law, one narrow window through the trees has survived centuries of change.
And at its centre, St Paul’s remains as magnificent as ever.
Follow @OaksAndLions for more of England’s history, heritage and culture.
This is a true story and relates to a post about ex Armed Forces and housing.
Some of us have also served in the armed forces.
I am one of 125 MoD caretakers across the UK and NI.
We work at Army Reserve and UOTC centres.
All of us have to live in tied accommodation that comes as part of our employment.
The 125 of us will be made redundant on the 31st of March 2027.
This is not a personal choice; we are part of the MoD's 10% cost-saving cuts. We are the lowest paid in the MoD; we earn less per annum than a 17-and-a-half-year-old in basic training in the Army. Some of us have served for decades. Yet we are committed and steadfast in maintaining the operational security and effectiveness of the Reserves Centres that we work at and in some cases manage.
When we are made redundant, our tied accommodation must be emptied and ready to hand over by the 31st of March. We and our families are not entitled to be rehomed. Again, this is not our choice; this action is being forced on us after years and decades of dedicated service to the MoD, the Army, and the our Country. This is a life-changing event for us all.
There is a lack of information, and as each week counts down to March, the stress on us all and our families increases. Yet, here in the UK, we have not only non-taxpayers but also people who are in our country illegally being given new priority housing.
Nobody is interested in our story or wants to help, and the media, with ethe exception of (The Scotsman) either do not want to report on or publish our story, or the information they are relating to is incorrect.
This is a true story and relates to UK tax paying nationals. Some of us have also served in the armed forces, and at least one of us is currently on Operational Tour, and will not be back in the UK by March 31st.
🤬🤬🤬
Britain’s railways are declining while China is building the future.
HS2 is now costing around £400,000 a day and isn’t expected to be ready until 2035 at the earliest, with the final bill potentially approaching £100 billion.
Meanwhile, China built the world’s largest high speed rail station in just over 3 years for under £8 billion.
The contrast is staggering.