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Strangelove

Colonel
Registered Member
LOL...

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Britain's consumer confidence 'crushed'​

By JONATHAN POWELL in London | China Daily Global | Updated: 2022-05-11 09:27

Consumer confidence in the United Kingdom has been "crushed" by the cost of living crisis, according to new data that showed retail sales have declined for the first time in 15 months.

Tracking figures, from accountants KPMG and the British Retail Consortium industry body known as the BRC, showed retail sales dropped at an annual rate of 0.3 percent last month, down from a 3.1 percent increase in March.

The BRC-KPMG Retail Sales Monitor indicated consumers had reined in their spending on furniture, electrical equipment and other household items.

In a news release, BRC chief executive Helen Dickinson said: "The rising cost of living has crushed consumer confidence and put the brakes on consumer spending. Sales growth has been slowing since January, though the real extent of this decline has been masked by rising inflation. Customers face a difficult year, with the Bank of England predicting inflation to reach more than 10 percent."


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UK economy ‘only going to get worse’ as growth slowdown begins​

Published Thu, May 12 20225:43 AM EDT

Key Points
  • A growth slowdown is underway in the U.K. after the economy shrank by 0.1% in March, with economists expecting further contractions this year.
  • The surprise monthly contraction presents a worry for Prime Minister Boris Johnson’s government as the country’s cost-of-living crisis is yet to reach its peak.
  • Sterling hit a two-year low versus the U.S. dollar following the GDP data as traders digested growing uncertainty about the U.K.’s economic outlook.
Although the economy grew 0.8% for the first quarter as a whole, slightly below consensus forecasts for 1% growth, January was the only positive month of the quarter. The war in Ukraine and subsequent supply chain problems and energy price spikes have compounded the toll of inflation, which is running at a multi-decade high.

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hit a two-year low versus the U.S. dollar following the data as traders digested growing uncertainty about the U.K.’s economic outlook. The surprise monthly contraction in March — economists had expected the figure to come in flat — presents a worry for Prime Minister Boris Johnson’s government as the country’s cost-of-living crisis is yet to reach its peak.

“Ultimately, things are only going to get worse for consumers. Energy bills are expected to soar again later this year when the price cap is reassessed, while inflation is proving stickier than expected,” said Hinesh Patel, portfolio manager at Quilter Investors.

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and in April, the
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to accommodate soaring prices. In the Queen’s Speech to mark the state opening of parliament on Wednesday, the government promised to focus on economic growth in order to address the
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.

Patel added that the
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now faces a “near impossible task of managing the economy out of this quagmire.”

“They are in aggressive rate raising mode for now, but this cannot remain the case for long given the economic issues already starting to play out,” he added.

The Bank of England has hiked interest rates at four consecutive policy meetings as it looks to rein in inflation, and markets are pricing in another five hikes by spring of 2023.

However, James Smith, developed markets economist at
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, suggested that the central bank’s more cautious tone in recent weeks indicates that it will not meet these expectations, and may settle for a couple more hikes before hitting pause so as not to exert further downward pressure on economic growth.

Thursday’s GDP figures also showed that the U.K.’s dominant consumer-facing services industry took a substantial hit in March, falling 1.8% as consumer spending declined amid the squeeze on households.

Health spending to fall away​

ING’s Smith said a second consecutive decline in output should be expected in April, coinciding with the end of free Covid-19 testing.
“Surprisingly, health output actually increased in March despite the ongoing wind-down of Covid-related activities, but clearly, that’s unlikely to last,” Smith noted.

If inflation data starts to turn that will give us a big bounce in the markets, says Jim O’Neill

“Health spending has been a key driver of GDP through the pandemic, and in fact, the overall size of the economy would be around 1% smaller had output in this sector stayed flat since early-2020.”



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hullopilllw

Junior Member
Registered Member
Indonesia with a population of 280 million neighbours Australia , which has around 40% of the identified resources of uranium recoverable at low cost.

The US would want to keep Indonesia in their camp and consequently integrate the Indonesians with American military and industrial supply chains. So investing there is a nice fit with US geo-strategic objectives.

Tesla will invest in India, if and when the domestic market matures and a demand arises for their motor vehicles. Though Indonesia seems to have a higher prosperity India(about double the per capital nominal GDP of India's - $4691 to $2342 from wikipedia) ,I don't think there is huge market for Tesla cars there either

The average price of popular models here are mostly in range of 200-250juta (13-17k usd), the cheapest Tesla in China is selling for 36k usd. Producing Tesla model in indonesia will incur cost far above than in China due to non existential state of EV supplier chains, and Tesla is not the supply chain nor can Indonesia gov afford to invest from ground up like China does. Indonesia has this weird thought that once Tesla build a factory here and maybe add in a battery factory then the supply chain will be up and running LOL.
 

Abominable

Major
Registered Member
Not many people following what's going on in Sri Lanka. There's been a breakdown of law and order and mobs are running around attacking politicians, rich people. Reports of people getting pulled out of expensive cars, villas and getting lynched.
A lot of people associate Sri Lanka with India, where lynching and social disorder like above are daily occurrences. But Sri Lanka is quite different, they have a more educated and civilised population and are more economically developed.

I think the main cause of this is the massive increase in cost of living, it's driven people to the point of desperation. It may not be long until we see similar scenes in the west.
 
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FriedButter

Brigadier
Registered Member
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Biden's 'minister for truth' wants to edit tweets​

The head of the newly created disinformation board suggests allowing blue-check Twitter users to add comments to posts they deem false

Nina Jankowicz, the director of US President Joe Biden’s newly created Disinformation Governance Board, has called for enabling blue-check Twitter users to help police commentary on the social media platform by allowing them to edit tweets that they consider to be false or misleading.

She made her comments in a viral video that surfaced online on Tuesday. After lamenting that many verified Twitter users don’t deserve to have blue-check status because they aren’t trustworthy, she said, “So verified people can essentially start to edit Twitter the same sort of way that Wikipedia is so they can add context to certain tweets.”
 

emblem21

Major
Registered Member
Nanjing was like 1/1000 of the total damage Japan caused to China.

Over 20 million Chinese in China alone died from WW2. Hundreds of thousands more if you include the massacres that took place in Singapore, Burma, Indonesia, and Malaysia.

It was literally a war of genocide against the Chinese race. They were poisoning Chinese wells with cholera, doing human experiments on Chinese in Unit 731, burying Chinese alive, using Chinese as dummies for target practice, beheading Chinese toddlers, bayonetting pregnant Chinese women after raping them, and holding contests on who could kill the most Chinese in a given amount of time.

Even in WW1 Japanese soldiers executed ~80 Chinese civilians and seriously maimed hundreds more when they went to war with Germany on Chinese soil. And in the aftermath of the first Sino-Japanese war the IJN massacred an entire Chinese village of 50,000 (Port Arthur Massacre).
Which is why the day that the USA economically collapses and loses their hegemony, Japan had better watch out because it is then that there so call sovereignty will be called into question and China is going to bring thousand years worth of justice upon those imperial bastards and the first place that is going to be turned into a radioactive crater is that God forsaken shrine of theirs. Turn that monument to Japanese war criminals into ruin so that there ancestors can understand that price for all those Chinese woman and children that were murdered in cold blood is the mark of disgrace upon that land until the end of time. That and the collective wealth of that land will belong to China as well.
Oh and the USA is going to experience even worse for daring to bar Chinas way in avenging those innocent lives lost while lecturing China on human rights. China is going to have its day in the sun and the sun will set for those two virtue signalling bastards, this time for good

One of these days, they are going to suffer hell and radioactive pain once the day is through and then we will see if war is enjoyable. They only enjoy these events when it doesn’t affect them, but the fun ends when they get the chop. Damn I hate these little bastards and seriously enough, the audacity of these smiling little bitches, they really do seem to think the death of innocent lives while they are partying in Keiv is a joke.
 
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