At last – I am able to have a holiday – politicalbetting.com
Like millions of other I feel as though I’ve been cooped up in my home office for more than a year. Well I’m going on holiday to North Northumberland in the morning returning in a week to get my second jab.
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
Have a great holiday. You have no idea how great a help this site has been over the last year. It has for many years been an interesting source of good betting information. But over the past hellish 13 months it has also been a great solace to read the views of well informed and sensible people when the media has been so full of tripe. You are an absolute hero and I look forward to the day when I am allowed to buy you a drink and hug you.
Have a great holiday. You have no idea how great a help this site has been over the last year. It has for many years been an interesting source of good betting information. But over the past hellish 13 months it has also been a great solace to read the views of well informed and sensible people when the media has been so full of tripe. You are an absolute hero and I look forward to the day when I am allowed to buy you a drink and hug you.
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
For me, 1974 Escort Mk1 bought for £3,000 in 1988 ... now £50,000 for a good one.
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
For me, 1974 Escort Mk1 bought for £3,000 in 1988 ... now £50,000 for a good one.
Not sure I should be admitting to a Austin Maxi 1800 for GBP300
Have a great holiday. You have no idea how great a help this site has been over the last year. It has for many years been an interesting source of good betting information. But over the past hellish 13 months it has also been a great solace to read the views of well informed and sensible people when the media has been so full of tripe. You are an absolute hero and I look forward to the day when I am allowed to buy you a drink and hug you.
Absolutely. Although I am not sure I recall being on here that particular day, the site has helped us all get through.
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
For me, 1974 Escort Mk1 bought for £3,000 in 1988 ... now £50,000 for a good one.
Not sure I should be admitting to a Austin Maxi 1800 for GBP300
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
For me, 1974 Escort Mk1 bought for £3,000 in 1988 ... now £50,000 for a good one.
1972 Simca 1301s for me. Cost £225 in 1983, but can be had from £3500 now.
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
For me, 1974 Escort Mk1 bought for £3,000 in 1988 ... now £50,000 for a good one.
Not sure I should be admitting to a Austin Maxi 1800 for GBP300
Have a wonderful holiday in the hidden gem that is North Northumberland
My family moved to Berwick when I was 10 and upto starting work in Edinburgh when I was 17 I had the most fantastic time canoeing, sailing, playing golf, football and cricket, cross county running and of course exploring the great beaches and enjoying Bamburgh with its castle and connection to Grace Darling , also Holy Island
I highly recommend it for a 'staycation' holiday that will not disappoint
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
Let's hope we never go back to those dark days again. I don't think the NHS or country could take another major wave. I don't think we will, but many countries still have a long way to go. India is scary, but some less visible bits of Asia too.
Have a great holiday. You have no idea how great a help this site has been over the last year. It has for many years been an interesting source of good betting information. But over the past hellish 13 months it has also been a great solace to read the views of well informed and sensible people when the media has been so full of tripe. You are an absolute hero and I look forward to the day when I am allowed to buy you a drink and hug you.
Thank you. That's really appreciated.
Likewise. Enjoy. Your site has kept me sane for a year (unlike some commenters )
Buckingham Palace announces the 30 guests who have been invited to Prince Philip's funeral on Saturday.
They are: The Queen, Prince Charles, Camilla, Princess Anne and husband, and their children and Mike Tindall, Prince Andrew his daughters and their husbands, Prince Edward and his wife and children, William, Catherine and Harry, The Duke of Kent, the Duke of Gloucester, Princess Alexandra, Bernhard, Prince of Baden, Donatus, Landgrave of Hesse, Philipp, Prince of Hohenlohe-Langenburg, The Earl of Snowdon, Lady Sarah Chatto and husband and Countess Mountbatten of Burma.
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
My wife has just quit. She feels exhausted and unappreciated. She's going back to a care home. The impression I get is that while patients appreciate the NHS, staff don't.
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
I would expect, in the crucible of covid, for lots of novel therapies and creative strategies for covid to emerge - and perhaps they are, but we don't seem to hear about them. It seems instead that the situation is just becoming a helpless, hopeless, grind for those concerned.
Buckingham Palace announces the 30 guests who have been invited to Prince Philip's funeral on Saturday.
They are: The Queen, Prince Charles, Camilla, Princess Anne and husband, and their children and Mike Tindall, Prince Andrew his daughters and their husbands, Prince Edward and his wife and children, William, Catherine and Harry, The Duke of Kent, the Duke of Gloucester, Princess Alexandra, Bernhard, Prince of Baden, Donatus, Landgrave of Hesse, Philipp, Prince of Hohenlohe-Langenburg, The Earl of Snowdon, Lady Sarah Chatto and husband and Countess Mountbatten of Burma.
The unfortunate part about this is that Peter Philips has been placed between William and Harry in a clear statement that their relationship is fractured
Why on earth they could not come together for this occasion, of all occasions, is just simply sad
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
Let's hope we never go back to those dark days again. I don't think the NHS or country could take another major wave. I don't think we will, but many countries still have a long way to go. India is scary, but some less visible bits of Asia too.
As I understand it, a death from unsedated, unoxygenated Covid is absolutely hideous: long minutes, even hours, of "dry drowning". Fucking awful
I don't understand how any remotely organised country could run out of basic morphine, pethidine, benzos, xanax, etc? Brazil is not Switzerland but it is not dirt poor either
Surely it is better to sedate people to death if you have no other choice
i agree we would struggle, so badly, with another bad wave. I believe humanity would struggle, in toto. India looks terrible
If this plague comes back for another worse attack I would expect wars, if only as a distraction from the misery
Mikus Smithsonius: Are you ready to do your duty for PB?
rcs1000: Yes, father.
Mikus Smithsonius: You will not be PB Moderator.
rcs1000: Which wiser, older man is to take my place?
Mikus Smithsonius: My powers will pass to TSE, to hold in trust until the Senate is ready to rule once more. PB is to be a republic again.
rcs1000: TSE?
Mikus Smithsonius: Yes.
[Mikus Smithsonius tries to comfort rcs1000 by reaching out his hand to touch him on the face but rcs1000 pulls his head away from Mikus Smithsonius' hand in disgust]
Mikus Smithsonius: My decision disappoints you?
rcs1000: You wrote to me once, listing the four chief virtues: Wisdom, justice, fortitude and temperance. As I read the list, I knew I had none of them. But I have other virtues, father. Ambition. That can be a virtue when it drives us to excel. Resourcefulness, courage, perhaps not on an AV Thread, but... there are many forms of courage. Devotion, to my family and to you. But none of my virtues were on your list. Even then it was as if you didn't want me for your son.
Mikus Smithsonius: Oh, rcs1000. You go too far.
rcs1000: I search the faces of the gods... for ways to please you, to make you proud. One kind word, one full hug... where you pressed me to your chest and held me tight. Would have been like the sun on my heart for a thousand years. What is it in me that you hate so much?
Mikus Smithsonius: Shh, rcs1000.
rcs1000: All I've ever wanted was to live up to you, Caesar. Father.
Mikus Smithsonius: [gets down on his knees] rcs1000, your faults as a son is my failure as a father.
[Mikus opens up his arms to rcs1000 and gives him a hug]
rcs1000: [rsc1000 hugs Mikus and cries] Father. I would have moderate the whole world... if you would only love me!
[rcs1000 then goes off to unplug every single one of the PB servers...]
Does anybody know if I'll be able to pop across the border into Scotland?
I was supposed to be going to Northumberland first week of May, but was postponed a few months back as it wasn't clear I'd be able to do the opposite and pop across from Scotland.
Rescheduled for mid-September.
Better happen, as it was originally meant to happen May 2020, then May 2021...
Does anybody know if I'll be able to pop across the border into Scotland?
I was supposed to be going to Northumberland first week of May, but was postponed a few months back as it wasn't clear I'd be able to do the opposite and pop across from Scotland.
Rescheduled for mid-September.
Better happen, as it was originally meant to happen May 2020, then May 2021...
I was meant to be going to Nicaragua for business (first time ever in central America) in spring 2020. Then it was late 2020. Then it became "early 2021". Now it is, maybe, "late 2021", if we're lucky. But really no one expects it before "early" 2022?
I sometimes wonder if this well ever quite end, and if travel will ever return as we knew it
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
My wife has just quit. She feels exhausted and unappreciated. She's going back to a care home. The impression I get is that while patients appreciate the NHS, staff don't.
Yes, no way is Mrs Foxy going back to ICU. She knows her limits. She is having a well earned week off on the IoW seeing her mum, but eager to get back to her regular work.
Does anybody know if I'll be able to pop across the border into Scotland?
I was supposed to be going to Northumberland first week of May, but was postponed a few months back as it wasn't clear I'd be able to do the opposite and pop across from Scotland.
Rescheduled for mid-September.
Better happen, as it was originally meant to happen May 2020, then May 2021...
I was meant to be going to Nicaragua for business (first time ever in central America) in spring 2020. Then it was late 2020. Then it became "early 2021". Now it is, maybe, "late 2021", if we're lucky. But really no one expects it before "early" 2022?
I sometimes wonder if this well ever quite end, and if travel will ever return as we knew it
Yeah in that context Nicaragua might as well be Mars. Northumberland is now just Australia. Or something.
Does anybody know if I'll be able to pop across the border into Scotland?
I was supposed to be going to Northumberland first week of May, but was postponed a few months back as it wasn't clear I'd be able to do the opposite and pop across from Scotland.
Rescheduled for mid-September.
Better happen, as it was originally meant to happen May 2020, then May 2021...
I was meant to be going to Nicaragua for business (first time ever in central America) in spring 2020. Then it was late 2020. Then it became "early 2021". Now it is, maybe, "late 2021", if we're lucky. But really no one expects it before "early" 2022?
I sometimes wonder if this well ever quite end, and if travel will ever return as we knew it
Is Nicaraguan Flint particularly prized by artisans, or is it that Nicaraguans are particularly in need of dildos?
Have a great holiday. You have no idea how great a help this site has been over the last year. It has for many years been an interesting source of good betting information. But over the past hellish 13 months it has also been a great solace to read the views of well informed and sensible people when the media has been so full of tripe. You are an absolute hero and I look forward to the day when I am allowed to buy you a drink and hug you.
Ukraine: The increase is statements of concern & talk of consequences out of Washington suggests they really do fear Russia will do something.
If you are a kleptocractic, effective dictator of a leader like Putin is, how do you take such talk but with the absence of actual threat and the absence of preventative measures.
Pretty much like every dictator in history has reacted before, probably.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
Ukraine: The increase is statements of concern & talk of consequences out of Washington suggests they really do fear Russia will do something.
If you are a kleptocractic, effective dictator of a leader like Putin is, how do you take such talk but with the absence of actual threat and the absence of preventative measures.
Pretty much like every dictator in history has reacted before, probably.
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
My Dad used to have a Dino. Blamed me for forcing me to sell it as you couldn’t fit a baby bassinet (me) and a toddler (my brother) in the back
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
My wife has just quit. She feels exhausted and unappreciated. She's going back to a care home. The impression I get is that while patients appreciate the NHS, staff don't.
Yes, no way is Mrs Foxy going back to ICU. She knows her limits. She is having a well earned week off on the IoW seeing her mum, but eager to get back to her regular work.
Seriously, thanks to you both for your work on the frontlines.
I don't think those of us outside the frontline of providing care can possibly know just how draining and scaring it has been for you all.
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
That is horrific
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
When I saw that story about Brazil I was thinking I would rather die than be intubated like that
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
I met some German tourists on the beach here earlier this week
Looking at the other tweets on that account, most of them are Trumpian or far-right or conspiracy stuff. Based on the other tweets, this one is probably much the same.
The tweet says: Facebook is blocking links to this New York Post story detailing the finances of Black Lives Matter co-founder Patrisse Khan-Cullors from being shared on the platform.
Didn't we do this (the underlying story) the other day? I've no idea what Facebook makes of it.
Could it be . . . that going on a "break" to some semi-explored section of wildest Northumberland is just a dodge by OGH. Similar to that used by the elderly Sherlock Holmes when the famed sleuth supposedly "retired"to keep bees in Sussex. Yeah, right!
My own quasi-learned guess, is that he (Mike, not Sherlock) is REALLY engaged in secret undercover campaigning in some already benighted part of Further England, for god-knows what sinister ideology and/or self-serving agenda.
It's also odd to ban what is, basically, a non story. She inherited some money. She bought two properties, both of which are nice, but neither of which is particularly ostentatious. (One was for something like $500k - but now worth $800k!!!, While the other was for a little more than a million.)
The highlight of the article seems to be that she looked (online) at some property in Barbados, that she can't afford and didn't visit or purchase.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
Whats the view on the impact of Greensill on the Scottish elections..... London's stock cant have slid much lower - surely this sees the Independence cause creep that little bit closer.... (never though D Cameron would come back to haunt the Union)
Could it be . . . that going on a "break" to some semi-explored section of wildest Northumberland is just a dodge by OGH. Similar to that used by the elderly Sherlock Holmes when the famed sleuth supposedly "retired"to keep bees in Sussex. Yeah, right!
My own quasi-learned guess, is that he (Mike, not Sherlock) is REALLY engaged in secret undercover campaigning in some already benighted part of Further England, for god-knows what sinister ideology and/or self-serving agenda.
Cave suffragator!
Personally, I don't reckon he'll make it past Hartlepool....
He's clearly there masterminding the Yellow Peril's Great Comeback. It's the poor Lady OGH you have to feel sorry for.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
Whats the view on the impact of Greensill on the Scottish elections..... London's stock cant have slid much lower - surely this sees the Independence cause creep that little bit closer.... (never though D Cameron would come back to haunt the Union)
Except, Scotland has a £500m bill for Greensill, in the shape of guarantees given by the SNP Government. Why would they do that, when Westminster wouldn't? What is the lobbying story there?
You want to see this thing go off at a weird angle, that might be it....
Talking of first cars,mine was a Hillman Husky which I bought for 35 quid, DMK 111A not knowing the gearbox was filled with sawdust. I sold it for 40 quid to an old boy who I told the story of the gearbox who told me not to worry about it. It was immaculate inside and out and rust free. Rather sad really.
Whats the view on the impact of Greensill on the Scottish elections..... London's stock cant have slid much lower - surely this sees the Independence cause creep that little bit closer.... (never though D Cameron would come back to haunt the Union)
Except, Scotland has a £500m bill for Greensill, in the shape of guarantees given by the SNP Government. Why would they do that, when Westminster wouldn't? What is the lobbying story there?
You want to see this thing go off at a weird angle, that might be it....
I don't think the odd half-a-billion pounds makes a difference to anything myself (you actually have to wonder if any degree of fiscal incompetence or skulduggery would anymore, in an era of such astronomical spending and borrowing numbers - but anyway...) The Scottish Government is essentially protected by a suit of kevlar-lined, teflon-coated plate armour. The entire Salmond debacle barely scratched it. If they chucked some money to try to prop up an aluminium smelter in a remote corner of the Highlands that most Scots won't even have visited then honestly, who is really going to care?
It's also odd to ban what is, basically, a non story. She inherited some money. She bought two properties, both of which are nice, but neither of which is particularly ostentatious. (One was for something like $500k - but now worth $800k!!!, While the other was for a little more than a million.)
The highlight of the article seems to be that she looked (online) at some property in Barbados, that she can't afford and didn't visit or purchase.
Regrets, I've had a few. Just surfing the web and found this. My very first car was a 1936 Singer Le Mans which I bought for £25. It would now cost me approx $150,000 to buy one now.
For me, 1974 Escort Mk1 bought for £3,000 in 1988 ... now £50,000 for a good one.
Not sure I should be admitting to a Austin Maxi 1800 for GBP300
Could be worse. I had an Austin 1800 landcrab (ex-Naval surplus). It consumed oil at approximately the same rate as petrol.
It's also odd to ban what is, basically, a non story. She inherited some money. She bought two properties, both of which are nice, but neither of which is particularly ostentatious. (One was for something like $500k - but now worth $800k!!!, While the other was for a little more than a million.)
The highlight of the article seems to be that she looked (online) at some property in Barbados, that she can't afford and didn't visit or purchase.
It’s a hypocrisy story
Also in the context of an organisation which raised some $75m last year, and people are starting to ask where the money went.
Whats the view on the impact of Greensill on the Scottish elections..... London's stock cant have slid much lower - surely this sees the Independence cause creep that little bit closer.... (never though D Cameron would come back to haunt the Union)
Except, Scotland has a £500m bill for Greensill, in the shape of guarantees given by the SNP Government. Why would they do that, when Westminster wouldn't? What is the lobbying story there?
You want to see this thing go off at a weird angle, that might be it....
If the German language doesn’t have a compound word for the combined activity of pointing at squirrels and clutching at straws, it bloody well should.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Populism rules logic and principle again. I've posted about this a couple of times. We are in this position because the government has followed what the lumpen says it wants,
All the opprobrium pored on international travel over the last year has been directed at UK citizens rather than foreign nationals coming here. This, to me, points at vindictiveness and envy and an element of relish in curtailing the freedoms enjoyed by some that the majority do not themselves enjoy.
Now we are in the position that non-UK citizens have more rights than UK citizens as a direct result of our own government's policies. This has gone on for months - though 17 May is likely to correct this to some extent.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
R4 Today doing an in depth piece on the table upon which Prince Philip was birthed. Let’s have no more sniggering about the Pacific island that has deified Phil #fetishnation
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
If banks are lending assets it to the government then surely this IS government borrowing in a real sense - i.e. with interest being charged and repayment at some point to be made?
We came close to running out of some agents in both waves. Anaesthetic agents, kidney filtration kit, even oxygen bandwidth.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
I’m sure Toby Young will be highlighting this on Lockdown Sceptics. After all, he must be interested on what happens when a large country is actually run by a lockdown sceptic; Bolsonaro has done almost everything he demands.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
It seems to me that if I lived in a plague city, like Mumbai or Paris then this might be a good time to holiday in the UK.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
If banks are lending assets it to the government then surely this IS government borrowing in a real sense - i.e. with interest being charged and repayment at some point to be made?
The Bank buys an old government bond from banks.
The banks use that money to buy a new bond from the Government.
The Government owns the Bank so doesn't pay interest to the Bank on the bond it bought.
Net effect the Government has sold a new bond, the banks have the same, the Bank owns some it didn't and claims no interest.
But theoretically no money has been printed. Theoretically the Bank isn't buying from the Government.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
If banks are lending assets it to the government then surely this IS government borrowing in a real sense - i.e. with interest being charged and repayment at some point to be made?
Not really
Bank buys £300bn Uk government debt from the market.
Market buys £300bn of new debt from the government
Net result is that government debt has gone up £300bn and Bank of England assets have gone up £300bn.
Government pays same interest to market (assuming no change in rates). Government pays more interest to the Bank of England (in practice I don’t think they bother any more) which pays a dividend to the government with the proceeds.
When the Bank of England debts come due they enter into a contract with the government to roll over the loan into a new instrument
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
If banks are lending assets it to the government then surely this IS government borrowing in a real sense - i.e. with interest being charged and repayment at some point to be made?
The Bank buys an old government bond from a bank.
The bank uses that money to buy a new bond from the Government.
The Government owns the Bank so doesn't pay interest to the Bank on the bond it bought.
Net effect the Government has sold a new bond, the banks have the same, the Bank owns some it didn't and claims no interest.
But theoretically no money has been printed. Theoretically the Bank isn't buying from the Government.
The Bank of England is creating the money to pay for the bonds out of thin air - it is they who have responsibility for the money supply not the government
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
If banks are lending assets it to the government then surely this IS government borrowing in a real sense - i.e. with interest being charged and repayment at some point to be made?
The Bank buys an old government bond from a bank.
The bank uses that money to buy a new bond from the Government.
The Government owns the Bank so doesn't pay interest to the Bank on the bond it bought.
Net effect the Government has sold a new bond, the banks have the same, the Bank owns some it didn't and claims no interest.
But theoretically no money has been printed. Theoretically the Bank isn't buying from the Government.
The Bank of England is creating the money to pay for the bonds out of thin air - it is they who have responsibility for the money supply not the government
That was my point yes. The Bank creates the money and pays it but because it's a loan than could theoretically be repaid (but we know never will) they maintain the polite fiction that money wasn't printed.
O/T — In London today I was surprised to find myself giving directions to Japanese tourists. I had thought that all tourism from other countries was off the cards atm.
It would appear that the Government is, in essence, operating an open door policy for visitors from the whole world, except those travelling from red list countries (and presumably visitors from e.g. Brazil could just get around the feeble rules by travelling via a third country and lying on whatever declarations they have to make when they get here, if sufficiently determined to do so?)
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Because there are more votes in ending lockdown than continuing it? And free economies are more successful than locked down ones?
1. Are there? Much of the population remains irrationally terrified and such opinion is disproportionately concentrated amongst elderly authoritarians, who are (a) numerous and (b) heavily inclined to turn out to vote. 2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
We’re printing money not borrowing it
How is that actually done? Literally printing or metaphorically? Are other comparable countries doing the same and roughly to the same extent?
Metaphorically
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
If banks are lending assets it to the government then surely this IS government borrowing in a real sense - i.e. with interest being charged and repayment at some point to be made?
Not really
Bank buys £300bn Uk government debt from the market.
Market buys £300bn of new debt from the government
Net result is that government debt has gone up £300bn and Bank of England assets have gone up £300bn.
Government pays same interest to market (assuming no change in rates). Government pays more interest to the Bank of England (in practice I don’t think they bother any more) which pays a dividend to the government with the proceeds.
When the Bank of England debts come due they enter into a contract with the government to roll over the loan into a new instrument
This makes my head spin.
So to what extent is this actually a problem? If Covid ends up costing us, say, £800 billion - surely there must be a limit to this?
If ,say, ten years slip by and there is another pandemic caused by a new virus, could QE be used to generate a brand new £800 billion?
Comments
All seats for Northumberland council are up for election in May though so you may not escape the local elections
https://twitter.com/SamanthaJPower/status/1382438431989506049
Have a good holiday Mike!
On Covid and Brazil
This just leaves me in a cold sweat
"Some Brazilian hospitals have run out of sedatives, forcing doctors to use restraints while coronavirus patients are intubated
"I never thought I would be living through something like this," a doctor says. "The patient is submitted to a form of torture"
https://twitter.com/BNODesk/status/1382790485329252354
Wasn't that the SECOND thing Winston Churchill said, upon hearing the results of the 1945 general election?
Have fun, Mike - and don't forget to send up a postcard!
There seems to be no jealous emoji on Vanilla.
And things are still getting worse there.
Thank you.
My medical student this morning is still doing bank shifts as HCA on ICU. Only a third of the ICU nurses remain at present, the rest are conscripts from the press gangs, though some proper staff may return. Staff attrition is horrific.
At least give them some fucking pethidine. I don't want to drown in my own lung fluid. in total agony
Though who in their right mind would want one!
My family moved to Berwick when I was 10 and upto starting work in Edinburgh when I was 17 I had the most fantastic time canoeing, sailing, playing golf, football and cricket, cross county running and of course exploring the great beaches and enjoying Bamburgh with its castle and connection to Grace Darling , also Holy Island
I highly recommend it for a 'staycation' holiday that will not disappoint
They are: The Queen, Prince Charles, Camilla, Princess Anne and husband, and their children and Mike Tindall, Prince Andrew his daughters and their husbands, Prince Edward and his wife and children, William, Catherine and Harry, The Duke of Kent, the Duke of Gloucester, Princess Alexandra, Bernhard, Prince of Baden, Donatus, Landgrave of Hesse, Philipp, Prince of Hohenlohe-Langenburg, The Earl of Snowdon, Lady Sarah Chatto and husband and Countess Mountbatten of Burma.
No place for Fergie nor the Duchesses of Gloucester and Kent nor Prince and Princess Michael of Kent
https://www.dailymail.co.uk/news/article-9475169/Prince-Philips-funeral-guest-list-30-mourners-include-close-friend-Penny-Brabourne.html#comments
Mind you it was the birthplace of the Charlton brothers, so it was not all bad
Why on earth they could not come together for this occasion, of all occasions, is just simply sad
I don't understand how any remotely organised country could run out of basic morphine, pethidine, benzos, xanax, etc? Brazil is not Switzerland but it is not dirt poor either
Surely it is better to sedate people to death if you have no other choice
i agree we would struggle, so badly, with another bad wave. I believe humanity would struggle, in toto. India looks terrible
If this plague comes back for another worse attack I would expect wars, if only as a distraction from the misery
And raise you Seaton Deleval.
Mikus Smithsonius: Are you ready to do your duty for PB?
rcs1000: Yes, father.
Mikus Smithsonius: You will not be PB Moderator.
rcs1000: Which wiser, older man is to take my place?
Mikus Smithsonius: My powers will pass to TSE, to hold in trust until the Senate is ready to rule once more. PB is to be a republic again.
rcs1000: TSE?
Mikus Smithsonius: Yes.
[Mikus Smithsonius tries to comfort rcs1000 by reaching out his hand to touch him on the face but rcs1000 pulls his head away from Mikus Smithsonius' hand in disgust]
Mikus Smithsonius: My decision disappoints you?
rcs1000: You wrote to me once, listing the four chief virtues: Wisdom, justice, fortitude and temperance. As I read the list, I knew I had none of them. But I have other virtues, father. Ambition. That can be a virtue when it drives us to excel. Resourcefulness, courage, perhaps not on an AV Thread, but... there are many forms of courage. Devotion, to my family and to you. But none of my virtues were on your list. Even then it was as if you didn't want me for your son.
Mikus Smithsonius: Oh, rcs1000. You go too far.
rcs1000: I search the faces of the gods... for ways to please you, to make you proud. One kind word, one full hug... where you pressed me to your chest and held me tight. Would have been like the sun on my heart for a thousand years. What is it in me that you hate so much?
Mikus Smithsonius: Shh, rcs1000.
rcs1000: All I've ever wanted was to live up to you, Caesar. Father.
Mikus Smithsonius: [gets down on his knees] rcs1000, your faults as a son is my failure as a father.
[Mikus opens up his arms to rcs1000 and gives him a hug]
rcs1000: [rsc1000 hugs Mikus and cries] Father. I would have moderate the whole world... if you would only love me!
[rcs1000 then goes off to unplug every single one of the PB servers...]
Rescheduled for mid-September.
Better happen, as it was originally meant to happen May 2020, then May 2021...
I sometimes wonder if this well ever quite end, and if travel will ever return as we knew it
Have a great break, Mike.
If you are a kleptocractic, effective dictator of a leader like Putin is, how do you take such talk but with the absence of actual threat and the absence of preventative measures.
Pretty much like every dictator in history has reacted before, probably.
(Texas seceding wouldn’t necessarily be a bad thing.)
I don't think those of us outside the frontline of providing care can possibly know just how draining and scaring it has been for you all.
Covid has been almost eradicated in that part of the country:
https://coronavirus.data.gov.uk/details/interactive-map
Facebook just prevented me sharing this on my (seldom used - I hate FB - FB account). Perhaps it is deemed Fake News. But is it?
https://twitter.com/alexsalvinews/status/1382825704572788737?s=21
'https://twitter.com/DarrenGBNews/status/1382796960210501636?s=20
Didn't we do this (the underlying story) the other day? I've no idea what Facebook makes of it.
My own quasi-learned guess, is that he (Mike, not Sherlock) is REALLY engaged in secret undercover campaigning in some already benighted part of Further England, for god-knows what sinister ideology and/or self-serving agenda.
Cave suffragator!
The highlight of the article seems to be that she looked (online) at some property in Barbados, that she can't afford and didn't visit or purchase.
Like I said the other day, it's so reckless and illogical a policy that it only really makes sense if one assumes that ministers want to import variants, in order to have surge testing, panic in the press, and thus to maintain the general atmosphere of emergency. The emergency is wildly popular with the Tories' frightened elderly supporters, it gives them cover to act with impunity, and it serves further to neuter an already ineffectual Opposition. Why would they ever want it to end?
Hope you have a relaxing holiday, Mr. Smithson.
He's clearly there masterminding the Yellow Peril's Great Comeback. It's the poor Lady OGH you have to feel sorry for.
2. Who cares about the economy when you can just borrow to plug the gaps in your finances?
You want to see this thing go off at a weird angle, that might be it....
I sold it for 40 quid to an old boy who I told the story of the gearbox who told me not to worry about it. It was immaculate inside and out and rust free. Rather sad really.
All the opprobrium pored on international travel over the last year has been directed at UK citizens rather than foreign nationals coming here. This, to me, points at vindictiveness and envy and an element of relish in curtailing the freedoms enjoyed by some that the majority do not themselves enjoy.
Now we are in the position that non-UK citizens have more rights than UK citizens as a direct result of our own government's policies. This has gone on for months - though 17 May is likely to correct this to some extent.
The Bank of England fires up its spreadsheet and buys assets from banks who turn around and lend it to the government. They call it Quantative Easing so it sounds boring and technical and people’s eyes glaze over.
We’ve been doing it for years but generally less than the EU and the US.
That’s the reason why we have horrendous asset price inflation - there’s too much money around and not enough quality assets
The banks use that money to buy a new bond from the Government.
The Government owns the Bank so doesn't pay interest to the Bank on the bond it bought.
Net effect the Government has sold a new bond, the banks have the same, the Bank owns some it didn't and claims no interest.
But theoretically no money has been printed. Theoretically the Bank isn't buying from the Government.
Bank buys £300bn Uk government debt from the market.
Market buys £300bn of new debt from the government
Net result is that government debt has gone up £300bn and Bank of England assets have gone up £300bn.
Government pays same interest to market (assuming no change in rates). Government pays more interest to the Bank of England (in practice I don’t think they bother any more) which pays a dividend to the government with the proceeds.
When the Bank of England debts come due they enter into a contract with the government to roll over the loan into a new instrument
So to what extent is this actually a problem? If Covid ends up costing us, say, £800 billion - surely there must be a limit to this?
If ,say, ten years slip by and there is another pandemic caused by a new virus, could QE be used to generate a brand new £800 billion?