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Finance, coronavirus, the economy, etc (Read 44594 times)

tomtom

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#275 Re: Finance, coronavirus, the economy, etc
November 18, 2020, 01:26:00 pm
It seems that no-one in the media is brave enough to call “giving preferential contracts to friends of Tory MP’s” corruption.

Which is what it is - and why we normally have a tendering and procurement process.

Irrelevant now - but I suspect it breaches EU law....


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#277 Re: Finance, coronavirus, the economy, etc
November 19, 2020, 12:08:16 pm
A useful link showing the idea that the oft touted UK tory cabinet line that there is a trade-off between covid response and protecting the economy is wrong.

https://ourworldindata.org/covid-health-economy

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#278 Re: Finance, coronavirus, the economy, etc
November 20, 2020, 11:46:05 am
Away from covid, a report on tax havens from the Tax Justice Network:

https://taxjustice.net/2020/11/20/427bn-lost-to-tax-havens-every-year-landmark-study-reveals-countries-losses-and-worst-offenders/

"The UK spider’s web is responsible for over a third of global tax losses. The jurisdiction that causes countries the most global tax losses is British Overseas Territory Cayman, which is responsible for other countries losing over $70 billion in tax every year. However, Cayman is just one jurisdiction that falls under UK’s network of Overseas Territories and Crown Dependencies, where the UK has full powers to impose or veto lawmaking and where power to appoint key government officials rests with the British Crown. Infamously referred to as the UK spider’s web13, extensive research has documented the ways in which this network of jurisdictions operates as a web of tax havens facilitating corporate and private tax abuse, at the centre of which sits the City of London.

The State of Tax Justice 2020 finds that the UK spider’s web is responsible for 37.4 per cent of all tax losses suffered by countries around the world, costing countries over $160 billion in lost tax every year."

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https://www.theguardian.com/business/2021/jan/09/dormant-asset-scheme-be-expanded-beyond-bank-accounts-reclaim-fund-covid-relief

A heads up for those who might have a small company pension or savings account out there that they haven't been in touch with for a long time.

Help on finding small old pensions:

https://www.gov.uk/find-pension-contact-details


SA Chris

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See the investor's thread..

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Doh!...should have known it would be here somewhere. A potential stock bubble is worrying. My ISAs are up another 10% in 3 months (on average).. a bit too good to be true or that lucky.

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So is this the end?

https://www.theguardian.com/business/2021/jan/28/gamestop-shares-robinhood-app-ban-blackberry-amc-nokia-reddit

I still think this is beyond the subject of investments as the response indicates the big hedge fund players and wider market system don't like what happened and in that the reactions do look odd... free market hawks encouraging a sort of 'protectionism' within a potential 'regulatory gap' ?

Rewatching The Big Short recently I'm far from clear that enough has changed to stop big banks criminally rigging the system and getting off very light.

Incidentally, one of the 'players' in The Big Short is now shorting Barclays.

Johnny Brown

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https://www.economist.com/leaders/2021/05/08/the-digital-currencies-that-matter

Quote
Governments and financial firms need to prepare for a long-term shift in how money works, as momentous as the leap to metallic coins or payment cards. That means beefing up privacy laws, reforming how central banks are run and preparing retail banks for a more peripheral role. State digital currencies are the next great experiment in finance, and they promise to be a lot more consequential than the humble atm

petejh

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There’s been lots of chatter over the last 12-18 months about the coming transition to state-controlled digital currencies. Many have concerns over infringements on individual freedom to make purchases of things states may not approve of, and privacy over individual purchases. A core concern being if a state - down to local council level - doesn’t like you for whatever reason then could they cut off your ability to use your own money, or prevent you purchasing what you want to with your own money. No doubt loads of conspiracy theory paranoid loons mixed into some genuine concerns, to make a fertile pot.

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#286 Re: Finance, coronavirus, the economy, etc
November 12, 2021, 01:14:42 pm
Thought I’d kick over these ashes.

I’m currently sitting at home, twiddling my thumbs.

I am supposed to be sat in a classroom at Britannia Royal Naval College, learning all kinds of exciting things about, well, stuff.
However, two of my instructors tested positive and I’ve been sent home. I’m negative, double vaccinated and I hadn’t even met the affected instructors yet.

Is anyone else still experiencing similar disruptions?

I reserve opinion on how I feel about sitting at home…

TobyD

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#287 Re: Finance, coronavirus, the economy, etc
November 14, 2021, 09:22:43 am
Thought I’d kick over these ashes.

I’m currently sitting at home, twiddling my thumbs.

I am supposed to be sat in a classroom at Britannia Royal Naval College, learning all kinds of exciting things about, well, stuff.
However, two of my instructors tested positive and I’ve been sent home. I’m negative, double vaccinated and I hadn’t even met the affected instructors yet.

Is anyone else still experiencing similar disruptions?

I reserve opinion on how I feel about sitting at home…

I sympathize with your frustration Matt, I don't think if it's due to similar disruption, but I've been applying for jobs now for nearly a year, although not during the last lockdowns last winter, without any success. Journalism, outdoor industry, catering industry, I'm beginning to wonder if I'm doing something really wrong, but I've had feedback from several people and noones said anything significantly critical, just that other people were better candidates.

The media guff about millions of jobs being advertised never seems to mention how many of them are kickstart schemes and thus only open to 16-23 year olds.

Hope your work gains some interest soon!

Oldmanmatt

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#288 Re: Finance, coronavirus, the economy, etc
November 14, 2021, 10:24:59 am
Yes, it’s not the optimistic climate that the media portray.
I have had two false starts over the last 18 months. One of which I had a signed contract for, passed my start date (without getting instruction on where to attend on that date, even though I had been promised the same on on the Friday before my Monday start) only to be told on the Tuesday afternoon that it was all postponed. Start rearranged for September (last), only to be told the whole project was to be kicked in to a September spending review, mid June. Each delay, ultimately, down to Covid, as rates surged and Gov departments retreated to home working again or issues around “isolation prior to deployment” became too tricky for Civvie contractors.

It’s been far more stressful and financially difficult than that sounds, as I had to withdraw from my other income source, prior to the first start date and have basically been unemployed for 12 months.

Our business (the climbing gym) has been massively impacted by it all. Our biggest income stream had always been schools, youth groups, clubs and parties (not climbers, there aren’t enough of us. Those kids parties you hate so much, subsidise your training). That’s only now and slowly, beginning to recover and we’ve had to cover shortfalls from the little we’d put away for a rainy day (actually it’s quite damp, really. Bloke down the road is building a big boat in his garden. I think his name is Noah, or similar).

Almost all the Government “support” went to Landlord and Utility companies and, since neither of us had ever drawn a wage, we couldn’t furlough ourselves (actually, we never even took a dividend. Still the only money we take out is “loan repayment” on our original investment and we haven’t been able to do that since Feb ‘20).

Basically, life sucks in a great many ways and Covid can do one (with an exceptionally large, spiky, dildo, coated in chilli). My patience with anti-vax morons and idiots that cry over facemasks and social distancing, is at the point where I would like to see the same dildos deployed in those quarters, too.

Add to that the more “Brexity” shite and it’s even more grating. Under the circumstances, running our van (the only thing all six of us can travel in together) is all but impossible. Even a half hour trip up to the Moors, to climb or whatever, is a once a month luxury now (we can’t budget more than £25/30 a week for fuel. Last Friday, £25 bought me 16ltrs of fuel).
As for shopping for a family of six, where the “children” are now almost as big as I am, wear adult clothes and shoes and eat adult portions? Fuck my life!

To be clear, prior to the Pandemic, we were secure, not flush, but pretty comfortable. The business gave some extras, it wasn’t essential. We’ve gone from ok, to unable to cover basic needs, even though our income hasn’t significantly diminished.
Both of us have managed to secure new employment and we both started this month, so, in theory, next month should be better. That hasn’t been as easy as it sounds, of course and I can strongly sympathise with Toby. This isn’t a sellers market, regardless of the hype in the Press. We’re both lucky to have unique skill sets, that by chance, play well into the current state of the world (which seems pretty wild and not simply because of Pandemics and Brexit. They just seem to compounding negatives for the UK. We as a nation, have shit timing).

Ok. Bit of a rant. But I’ve been sitting on it without being able to vent for months (and it feels like the above mentioned dildo).
I am certain, that all around me, people are more bad tempered, less tolerant and generally unhappy. Everyone I speak to, is struggling financially. I know many people who have lost jobs, though most seem to have found alternatives, if “lower” than their expectations. Quite a few of my friends have taken contracts in the Middle East, this year, to get away from their woes here (all Engineers).

TobyD

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#289 Re: Finance, coronavirus, the economy, etc
November 14, 2021, 10:54:01 am
Thanks Matt, I don't think I've pegged my expectations too high, applied for any number of cafe, kitchen porter, retail or waiting jobs along with other things. I've got 3 degrees, 2 of which are vocational,  its getting pretty tedious. 

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#290 Re: Finance, coronavirus, the economy, etc
November 14, 2021, 11:00:25 am
Thanks Matt, I don't think I've pegged my expectations too high, applied for any number of cafe, kitchen porter, retail or waiting jobs along with other things. I've got 3 degrees, 2 of which are vocational,  its getting pretty tedious.

I know. I think about you often and wish I could help. (That sounded far soppier than intended, just add a bit of manliness there, somehow).

(Actually, I could cry about it, if only it was acceptable. I have in private. I don’t just mean my own shite, I mean all of it. I can’t explain how worried I am about my kid’s futures, for instance).

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#291 Re: Finance, coronavirus, the economy, etc
November 14, 2021, 12:21:07 pm
I have proper sympathy to anyone looking for jobs, many companies treat job applicants with contempt, communicating only when it suits and providing feedback of zero value. Good luck to you both.

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#292 Re: Finance, coronavirus, the economy, etc
November 14, 2021, 01:22:46 pm
...providing feedback of zero value...

I've been applying for a few Civil Service jobs and it seems they are required to give applicants feedback. One or two bits have been quite useful, but one was simply "17"!  :furious:

Worth bearing in mind that the "jobs boom" is only in certain sectors, and that overall the UK economy is still smaller than when the virus hit, by about 5% if memory serves me rightly. Good luck to Matt, Toby and whoever else is looking for work.

TobyD

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#293 Re: Finance, coronavirus, the economy, etc
November 15, 2021, 07:30:49 am
 Thanks for the support everyone, it's reassuring in a way that others seem to have had similar experiences.
I'm not sure how much of the issue is covid and how much is Brexit, but it's easier for an organisation to blame the pandemic as it sounds less political.

SA Chris

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#294 Re: Finance, coronavirus, the economy, etc
November 15, 2021, 03:30:59 pm
Keep going, hang in there.

Plenty happening up here, but I think not a lot of crossover for your area of expertise sadly. 

 

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