tegs07

CNC made instruments only become really cheap when they are made in volume. I expect these are very limited runs as I have never seen one for sale in a music shop, online or being played live ever. Until this thread I had no idea they existed.

tales of brave ulysses - cream

Dirty Dianna - Michael Jackson

**For quick answer skip to the bottom** There are arguments that any overall increase in the money supply is inflationary. Where, who and how that money comes from does not matter. That’s pretty much my point about QE which was basically “printing” and increasing the overall volume and velocity of “money”. This money found its way directly (purchasing on the high street) or indirectly (purchasing of assets such as property) into the economy driving prices up as well as propping up the price of government bonds. As the supply chain was broken due to recession in 2008 and again during Covid the effects were exasperated as more money was chasing fewer goods and services. The Ukrainian situation has also had a massive impact. Central banks have a very blunt tool to curb the increase in prices and that is hikes in interest rates. The theory being people will stop spending and the economy will contract rather than grow. Usually the indicators lag resulting in a recession. Its worth remembering also the government have no money other than what is raised by taxation. The rest is debt - effectively gilts sold to investors. When inflation is high investors will not want to buy gilts (government i.o.u) without an additional premium. Who wants to tie up money for 2 or 3 years at 4% when inflation is double that? ”Printing” is not a normal state of affairs. Raising money through taxation and bond sales is the norm. QE was supposed to be an emergency measure and one that is having delayed ramifications. The government didn’t “print” rather central banks did on their behalf. They basically electronically created credit (bank reserves) to purchase government bonds. The aim was to provide a crutch to support gilt prices and the long term aim was to sell the bonds on to 3rd parties when they hit maturity and had to be paid back. (i think this is correct? someone clarify if not please). In a similar way high street banks also need to raise funds to offer mortgages. Some comes from existing lending deposits and loans (reserves) but the rest needs to be raised in the money markets. With inflation and more importantly inflation expectations so high these banks are facing a premium to do borrow and this is being passed back to borrowers in terms of much more expensive fixed rate mortgages. Inflation when it is entrenched can destroy an economy. ****IF YOU want to skip to a quick answer: To be very brief governments don’t print they tax. Any gaps between what they can’t raise in tax and what it costs to run the country (the deficit) is financed through selling bonds (debt which has to be repaid). Any* cash that finds its way into the economy will lead to inflation. Some inflation is seen as positive. (Why bother to innovate or be productive if your money makes the same stuffed under a mattress) but when inflation gets out of control (too much cash chasing too little goods and services) it causes havoc. To tame it you need to either contract the money supply (tighten credit and restrict spending) or turbo charge the goods and services produced (Truss wasn’t totally mad just utterly delusional). *wages ** lottery wins *** booming property market etc Edit: The above is a simplified answer so has some omissions.

don’t let me down - those 4 scousers

Japan has suffered decades of deflation, largely as the result of letting an asset bubble get totally out of control and then collapse in the early 90’s. We may well follow them. One thing that surprised “experts” however was that with the decline in economic growth and stagnation in wages the overall “happiness” of the population actually increased.

Sure it can. Just type into ChatGPT “write me five paragraphs of cliche ridden gibberish with random references to Lord of the rings” ….. ducks and runs for cover

heavy soul - paul weller

demolition man - the old bill

They were a band in the 90’s. A damn fine one. Amnesia - Chumbawumba

If the powers that be have a trump card now is the time to play it. Things are Truss bad with gilts yields. Maybe hold off the GAS for a while. Something is brewing and it doesn’t smell good. I tend to talk into a bit of a void as folks find this stuff boring. I guess it is, if it wasn’t so fundamentally important in determining one of the biggest costs of our adult lives. Anyhow for anyone who may be interested, debt swaps are struggling to be filled even at a couple of % above the current bank rate. In plain english this translates as mortgage products are likely to be pulled and repriced at a higher rate over the coming days. 2 year fixed could easily hit 7% if this continues.

Had both, kept the East. Just more refined. Nothing wrong with the quality of the stinger. It gives a decent approximation of the original 2 band Stingray IMO, but if you can afford to then buy the East. I doubt if you will regret the decision.

Haha yes I remember that.

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Linger(ie) - the cranberries

I think that may be constipation. Maybe try some prune juice, followed up with four pints of stout and a vindaloo 👍

river man - nick drake

The war hasn’t helped but UK inflation had overshot its target by a staggering 250% before the Russian invasion. If you measured RPI (which includes housing costs ) it went parabolic after Covid. And still they sat in their hands and did nothing. Source ONS. Seriously! Brown trousers time. I have covered most of this stuff before. Let’s let the guys talk about GAS and stuff not selling. Happy to take discussion to another thread.

Royal Blood would have been better venting their frustration at their manager/booking agent.

There does seem to be a growing number of really nice instruments for sale at some very reasonable prices that get little interest. Sign of the times.

Well I’ve learned a lot from various people on BC, particularly on topics I know little about such as technical build and music theory. I guess the key is knowing my limitations and having a willingness to learn rather than get defensive and insult people. Plenty of people post about prices going up sharply, the cost of living, about mortgage rates increasing etc. I have some knowledge around these issues and try to explain the economic factors that drive them. Most people are politely bored, some interested, some just plain rude. If you want to vent some spleen do it at Andrew Bailey and the BOE. They are the ones that let inflation get out of control and they are the ones raising interest rates and defining the factors that influence each decision. Their decisions have directly impacted the level of mortgage debt people have taken on and the increase in costs of repaying that debt.

Depends if you have songs that require different tuning etc

personal jesus - going to go for the cash version

Absolutely. Even I’m bored with myself. Edit: The reason I am so preoccupied with this matter though is even if by some miracle the powers that be manage to halve the current rate of inflation it doesn’t mean prices will go down, just that they will RISE at twice the rate they did two years ago. It’s fairly shocking.

I think I will conclude this bun fight as you don’t really grasp the economic factors behind the debate. I would try googling monetarism, Friedrick Hayek , Milton Friedman, Inflation and what causes it. (Quantative Easing, decades of interest rates kept too low, supply shock due to pandemic and war as source of inflation). Then try Wage price Spiral (symptoms of inflation) and find out what the MPC is, what their remit is and what factors they are targeting. (attempts to ‘cure’ inflation). Wage price spiral is a contentious topic but nevertheless it’s something the BOE have said they are targeting on several occasions. The comparison with German wage constraints and one off payments to tackle inflation and the cost of living crisis are stark. This can be handled with sensitivity. At this point you might see there is no inconsistency in my position and you then can dismiss my arguments or suggest how I could look at situation from a different angle. There are other perspectives. My position is fairly old fashioned and doesn’t chime with much of modern economic theory. I have a feeling it may make a popular resurgence though. The world is changing. I never claimed the poor don’t deserve more money, just that if wages jump 7% across the board (this is the figure currently and believe it or not UK pay is rising faster than the EU at the moment) and the MPC is looking to stop inflation getting entrenched by raising rates to curtail it we will end up a circle that can never be squared. More money will be needed to ease the effects of inflation, which fuels inflation, which causes the MPC to tighten which means more money is needed, and so on until we have hyper inflation or a savage recession. It’s too late now anyway. Any chance to have contained inflation has been missed. At this stage inflation is entrenched and policy is already tightened. Naturally people will fight for pay increases. The spiral has started in earnest. How or when it will stop is anyone’s guess. I suspect rates will hit at least 5% by winter. The cost of servicing debt will be horrendous. Some councils will go bankrupt, some commercial real estate projects will most likely fail and there may be a crash in the housing market. The UK is really exposed to property slumps due to the prevalent short term fixed rates. There will be periods of optimism that the hikes are working and inflation is easing, whether this reverses as winter fuel bills kick in though is not known. As for extraordinary sensitive, you keep accusing me of being uncaring and being some kind of tool that wants to put people in their place “you wish to preserve the distance between you and those at the bottom of the heap. Fine, but just be frank about it..” is both rude and presumptuous. I work in the public sector so have some concept about lack of pay over the last few years. I also have (a limited) understanding of economics so could see the storm brewing and the damage it was likely to bring so tried to warn people to watch out. The time for pay restraint from middle income earners has passed, the opportunity missed and the consequences are being felt. The most pressing for most people is the price and availability of mortgages. I got a lot of rudeness for pointing out some very basic economic principles. Usually the rudeness comes from people who appear to be economically illiterate.