Sign of weakness. I would say it would be better to burn the money to have energy, but they dont print, only multiply digits on accounts. Futile.
Governments have been printing money like drunken, unrestrained fools for longer than I have been alive - and I am not a young person. The collapse of the global monetary system seems to be taking much longer than anybody is able to predict. No sense slowing down the money printing now, right?
They are not as stupid as everybody thinks they are, or as intelligent. Economists in government do what politicians want, but politicians are voted in by people.
You left out an important step - in order to get elected the politicians have to deceive people. If people were capable of voting for honest politicians, there might be different outcomes.
People deceive themselves. Like with money. More money is not equal to wealth, its equal to inflation.
In fact people dont need so much as they think they need, or as someone assures them.
I have met a lot of people that felt a strong need to save outrageous amounts of money because they wanted it for “retirement.” I am waiting to see how that experiment works out in the end.
I don’t know what you’re talking about. A typical family will need a level of money, There is rent/mortgage, Energy, Taxes, Food, and other living expenses. If a 3 bedroom flat costs ££££ then that is the amount required to purchase or rent it. What exactly are you saying someone should just go live on the street with their kids in the middle of the british winter? Do you not realise if they do that their health will be seriously affected and they will eventually die?
Did you know that land used to be free in Ye Olde Albion? Before the rich people decided that they should own it all and rent it back to people.
The devaluation and crash of crypto was a simple deflation by removing leverage, the harsh way. So you remove the leverage of some folk at 100 multiple and the norms at 5 multiple you see a value of today. Its actually very strong DESPITE the current climate in the market.
Thats BitCoin
Now Oil, Nat Gas and its derivatives are STRONG with an upward trend in the market but have the potential to destroy Financial markets becaue of this. the marketeers dont care and a financial collapse is very on the cards. Keep cash close, have some precious metals on hand (see what i did there) and be ready for the mother of all crashes, it does teeeter there so dont pish pish it.
“lets charge everyone more so we can invest in Bitcoin and also still profit on energy like we used to”
“Cool! And if we make a loss, we can put the rates up by another 80% next year to cover that! Genius!”
And soon the payments will be instant as per what Vice Chair of the Federal Reserve Board said last week while addressing the Early Adopter Workshop.
FedNow!
The proposed £2500 energy cap might stop this crash, people will have more to spend on other things they require. hopefully this will secure jobs in other industries as people will be able to afford to spend a little more on leisure for example.
The £100 billion is a staggering amount to borrow which will have to be repaid by future generations.
You can generate your own electric power, for example with bicycle generators, but…
Biking, full time, every day, no weekends, for four weeks gets you to just a few percent of your monthly energy use. The discrepancy between what you personally can generate and what you personally use says a lot about what’s happened with civilization and the planet over the past couple of centuries.
Consider this. For all of human history the amount of power the average person had to expend across each day was, well, one person-power’s worth.
Duh.
And how much was that in terms of energy? Well, our little bike example gives us a good estimate:
Eight hours of biking per day yields 800 Wh (0.8 kWh). So since the dawn of our species 300,000 years ago, 0.8 kWh was pretty much the energy available to pretty much everybody each day. If you personally wanted more energy you would need to buy someone else’s person-power in the form of servants or, worse, enslaved populations.
But the discovery of fossil fuels did something amazing. If we look at our house example, we see that the energy running into our homes from some distant power stations is the equivalent to having about 40 people pedaling bicycles for us. Those little sockets in the wall that we plug our stuff into give us the power of 40 servants. (If I included the electrical inefficiencies, that number goes up to about 50 servants.)We are all, literally, living like kings.
But that will soon be over.
Who will you enslave, or will you be slave yourself? Who decides who is king?
Normally I’d ask for some of what you’re smoking, but in your case I won’t.
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I am very curious where is this civilization going.
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Great, this are all blogs and news articles linking to other blogs and news articles for their sources, and non of them have any actual sources where the numbers are coming from.
I’m actually very curious how much fossil fuels there are left. But I doubt it will run out before we can transition to renewables. Especially in Europe, there is now a sudden awareness how dependent we are on that stuff and things have now definitely been set in motion.
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Exactly, the goal must be to completely reduce reliance on Russian energy.
50% loss and still not out of the game as they purchased when it was worth less than a 20 bucks.