Strange no people equality, the untouchable unspeakable caste(s) remains secure no matter what,

Mmmm, quite scary in fact.

An excerpt from an interview with a very clear thinking CEO of HSBC:

www.telegraph.co.uk/business/2023/10/29/britain-tipping-point-global-reckoning/

As central bank rates have risen, so have government borrowing costs. US sovereign bond yields have topped 5pc, the highest since 2007, just before the Lehman collapse. The UK’s 30-year gilt yield is now 5.2pc - a 25-year high.

Much of the West seems caught in a high-debt, high-tax, slow-growth trap, the firm grip of economic orthodoxy making it tough to escape. But what could be Quinn’s “tipping point” that drives bond yields even higher, causing fiscal and financial chaos?

Some argue that America faces recession and market meltdown – but I don’t buy it. The world’s largest economy looks resilient, on course to expand 2.1pc this year and 2.5pc in 2024. There are market jitters and President Joe Biden has been spending heavily. But despite the collapse of Silicon Valley Bank in the spring, US financial institutions are better capitalised than in 2008.

Inflation has dropped from 9.1pc last July to 3.7pc, boosting real wages and confidence, driving buoyant GDP growth of 4.9pc during the third quarter. Despite that, with inflation “moderating”, in the words of Federal Reserve boss Jerome Powell, I still think US rates will remain on hold, when Fed policymakers meet on Wednesday.

It’s the UK, though, not Italy, that faces the highest debt interest bill in the developed world this year, according to Fitch Ratings. Britain will spend £110bn, an astonishing 10.4pc of government revenue, on debt servicing during 2023 – the second largest item on the state balance sheet, after the NHS – due to our high share of inflation-linked gilts.

The UK economy has stalled, with the latest PMI surveys suggesting GDP is already contracting, one reason the Bank of England must surely hold rates on Thursday.

And as an oil importer, with still very limited gas storage, Britain is particularly exposed if the combination of a cold winter, Middle Eastern turmoil and geopolitical intrigue causes a spike in oil and gas prices – which could see inflation surge again, pushing government borrowing costs even higher.

Europe is much more likely than the US or China to be the “tipping point” that sparks a “global reckoning”, in my view – and that includes the UK.

I'm a complete cynic when it comes to how it takes for my pension to enter my account. A falling pound rhe money takes forever, a rising pound the can't get it in my account quick enough. The company pays expats on the 23rd, unless it's a weekend or UK Bank Holiday. Now 23rd here was a holiday, and my money was here on Friday. That's 4 working days.

I've often wondered if the machinations of what has replaced the old LIBOR scheme or later known as a scam influences exchange rates. Plus The Bank of Thailand is somewhat like a sloth in its (if any) movements over weekends and holidays.

I just saw this, you should watch it. It's Jamie Dimon, the rock star god CEO of JP Morgan, the worlds biggest investment bank. As always, Jamie (we're on first name terms) argues soundly that the Fed may not be done raising rates, even if 97% of the world thinks they are and Jerome appears to say he might be. Another 50 or 75 basis points may well be on the cards.

finance.yahoo.com/news/jpmorgan-ceo-jamie-dimon-suspects-fed-may-not-be-done-raising-rates-amid-stickier-inflation-232020859.html