A global recession is on the horizon - please read OP for mod warning

The damage was done years ago when Merkel handed over that control to a man she described as intent on destroying western Europe.

Putin had decided to cut the gas before he decided on the date to invade.

At least Germany and national Govts are taking action. There is no response to a Holocaust of businesses in Europe from Brussels. Examining options in a crisis where days and weeks matter.

In other news, inflation for Germany accelerated again in the last month, 2.1% jump to 10%.

All other things point to that acceleration continuing.

One can't be sucking lemons every day.

Reality is we live in a world of immense beauty, potential and love and joy.

That's always there, even when our lives are beset by problems, tragedy and human flaws.

Look at it this way.

Every day and minute of every Day there is a little things to be greatful for and enjoy, appreciate.

Make a list of them each Day, then jot them down through out the day. All of a sudden after a while one can find immense pleasure and joy and countless things to be grateful for, it's kinda overwhelming at first but it is such a relief to train your mind to look for the joy in the cloudy day.

Changing my outlook is the biggest thing I have done this year and it is such a relief to be free of my own head, bit freerer from worry, but starting to realize that even on the worst day of my life there will be countless wonderful and beautiful things.

I'm putting the work in on my head.

#Danzyisnothigh.

How f*cked?

Like, back into growth 2023 f*cked? or the IMF just told the new British Prime Minister what to do or they're landing in Heathrow f*cked?

A fantasy about two autocracies and three developing word basket cases magicing up a currency that somehow will supplant the dollar isn't a difference of opinion. It's fruit loop land.

Don't bother anyone's head about "education". If that's the standard on offer we'll all pass.

Oh and FYI: my username is followed by a 2 as my previous username contained a character which limited settings functionality - the mods changed it for me at my request. Same account, different livery.

Re-register accounts are for Tankies and political cranks. Smartypants fail.

Haha, I warned you last week who the sick man of Europe was, and that's the UK the most vulnerable economy in Europe while you were high as a badger on the Queen's fumes trying to mock Ireland for a bilateral loan. How right I was, and in spectacular fashion.

That's what you call a 147 break for me my Chumley Warner friend.

Some folks just don't know how to take an L.

And I don't know why I'd admit I was wrong (about what?) when I dished a spectacular I told you so to you.

I'll refer you back to Google. Because it's on record how many were arrested. And you are 100 percent wrong.

And I also deliver to you with ultimate smugness the fact I spoonfed to you the UK is economically crocked when you were trying to do down Ireland, and like clockwork the UK implodes the following week.

Should be pause for thought for you.

You obviously can't work Google then, because now, just as then, you are 100 perent wrong.

Germany isn't in a good place, but it's not f*cked. The US will be back to business as usual once inflation is tempered. The UK, now there's an economy that's f*cked, and you were told as such when you were on a bizzare mawkish rampage about Britain's greatness after the Queen's death.

Less than a week later, there's p*ss pooling beneath the feet of the British economy, just as you were told would happen.

147 break. Chalk another one up in the win column for Y2.

Ok, I'll shorten it for you.

147 break. Y2 takes the W, Monopoli slinks home with the L. Stops in for a curry cheese chip in Supermacs on the way home to blunt his pain.

Not to get involved in yere spat but Britain was in the same troubled boat as so many others but decided to blow that apart by delivering a mini budget that had global finance running from Britain.

As Bloomberg said about Truss and Kwarteng, no political leadership can survive looking so incapable and foolish, they have destroyed themselves in the eyes of Finance, Investors and markets.

Hopefully they do not crash the economy there so hard that it takes down the wider Western economy.

Some analysts now predicting that the Bank of England will have to push rates over 7%.

Things are going to be savage there for years to come.

Created a scratch? 🤣

Did you just miss the run on the currency that required the IMF to issue a statement to them as if it was a South American junta in the 80s? The UK was already f*cked. 15 years of next to no growth, notably even in the bull market years preceding covid.

The place is structurally banjaxed and there's no way out. There's zero point in being deluded (well perhaps for pride's sake as you were trying to mock Ireland for taking a bilateral loan a decade and a half ago).

You were warned that it would be and egg-on-your-face statement given the cut of the UK economy, you just didn't think you'd have to scrub the yolk off your face the very next week. Hilarious really.

It does in some respects. But here's the rub, a weak euro actually suits countries like Germany, the Netherlands (less so France), even Ireland. Germany in particular is what is known as an inflation exporter. It has for obvious reasons, been inflation adverse and exports its inflation to other parts of the eurozone (Ireland and Luxembourg most notably) which tempers spiraling wage demands in their pillar industries and keeps their outsized export industries competitive. The euro facilitates this.

The euro is good news for Northern European countries who tend to run surpluses and their economies would otherwise overheat, less good news for Southern European countries that carry large debts but experience chronic low-growth (notably Italy, less so Spain).

If the Italian lira was still around they would devalue the sh*t out of it and could grow their way out of trouble with their strong export sector. If the Deutschemark was still around, excess surpluses would (traditionally) have nowhere to go and generate an inflation spiral. They're getting inflation now, but for very different reasons due to currency issues.

The UK is trying to do Reagonomics without the dollar. It's science fiction.

EDIT: It also needs to be said that Ireland being in the euro at a time like this is extremely good for the country. A notional punt in 2022 would be hopelessly exposed to the clusterf*ck going on in the UK. Pensions destroyed etc.