pitprop

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pitprop

@_OtherFella

Katılım Ocak 2023
497 Takip Edilen73 Takipçiler
Rob Moore
Rob Moore@robprogressive·
To be in the top 50% of earners in the UK, do you know how much you need to earn? Shockingly it's just £26,000 a year. That is only slightly above minimum wage. To be in the top 25%, it's just £41,000. And to reach the top 10%, you need £63,000 a year. Some people think being in the top 10% makes you rich, but £63,000 is not a lot anymore with how much everything costs That's why I'm doing a zoom class to help you beat these soaring cost but most importantly increase your earning power See first comment 👇🏻
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Essex Patriot
Essex Patriot@Essex_Patriot·
Why if the UK is so racist do we never hear people saying "Send the Chinese back home"? For decades the Chinese community have integrated, worked hard and contributed. People AREN'T racist, the population are just FED up being taken for mugs by others!!
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pitprop
pitprop@_OtherFella·
@JohnnyFocal Why should costs be shared? The costs of business should belong to the business alone. The issue facing us is that the cost of poor government is also carried by the business. Governments increase taxes, energy costs and inflation which weighs business and deters employment.
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Jon Thompson
Jon Thompson@JohnnyFocal·
I don’t doubt a jump like that is difficult for a small operation — especially on top of everything else going up at once. That’s a real pressure, and I’m not pretending it isn’t. At a system level, when wages don’t cover living costs, the gap tends to get filled elsewhere — often through things like Universal Credit — which means part of the cost of labour is already being carried outside the business itself. The question then becomes how those costs are shared — between businesses, workers and the state — rather than assuming any one side is solely responsible.
Peter McCormack 🏴‍☠️🇬🇧🇮🇪@PeterMcCormack

This argument would only have the mildest credibility if the minimum wage was the only thing the state mandated. In a world of rising taxes, regulation, inflation and energy costs, which are all the fault of the state, only a dummy blames the business owner.

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Thomas
Thomas@ryttoss·
@_OtherFella @JohnnyFocal He doesn't have a little coffee shop, there are several sourced community notes on his thread to that effect. A listing for him at Companies House shows several failed companies, none of them coffee shops. If you want a private conversation, you should take it to DM.
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Jon Thompson
Jon Thompson@JohnnyFocal·
To be honest, you don't actually have a business. You have a business based on exploitation, which means your business model is neither sound nor ethical.
Peter McCormack 🏴‍☠️🇬🇧🇮🇪@PeterMcCormack

A minimum wage of £15 would end my coffee shop, it would have to close, as would many other businesses. I’ll explain for the economically illiterate. Staff costs are currently half our costs, a £15 minimum wage is actually more than £15 an hour for the company, because you have to add: - 12.07% holiday - Sick pay - Maternity pay if and when required - National insurance - Pension contributions These costs would mean the shop loses money because remember, energy costs are up, rates are up, regulations are up. Now you can pass these costs onto the consumer - that would mean charging a lot more for coffee, people won’t pay it. The likes of Starbucks and Costa can, because they have economies of scale. The independent doesn’t. Now the little socialist will say well this is your fault, if you can’t run a business that can afford to pay its staff properly, but the little socialist has never run a business and does not understand the dynamics. Now I could pay some staff off and fill those hours myself or reduce us to one staff member during certain periods - but this proves the point that a minimum wage costs jobs. There was a time when these jobs were done by kids, perhaps on the weekend, paid a lower wage, no holiday and no silly employment rights. Perhaps they were even paid cash. The dynamic worked and small businesses like this could operate. It was also a great first job. Sadly now it isn’t worth employing entitlement youngsters at this level of pay. So alas, I don’t need the stress, the business would close, a number of jobs would be lost. Economics is about understanding these dynamics, no vibes. The cost of living is not solved through passing on inflation to the business, it is solved by ending high inflation and creating prosperity. This is what socialists don’t understand, they can’t create prosperity, they can only destroy it.

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pitprop
pitprop@_OtherFella·
@ryttoss @JohnnyFocal Thomas, either: 1. You haven't checked if he has a business. 2. You don't care if he has a business and is worried about letting his staff go. 3. You're a bot. Either way, Jon and I are having a productive chat and you're being a reductive name caller.
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Thomas
Thomas@ryttoss·
@_OtherFella @JohnnyFocal The guy doesn't have a business, he's just a rage baiter, lying to get a reaction. He doesn't have a coffee shop or staff to not lay off. He just has a visceral hatred for minimum wage.
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pitprop
pitprop@_OtherFella·
@JohnnyFocal No points are being missed. An 18% increase in any input has a disproportionate effect on a low margin business, not just this one. Should they all go to the wall? What happens when £15 becomes 'low-paid labour' 6 years from now when all other factors are also increasing?
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Jon Thompson
Jon Thompson@JohnnyFocal·
The point being missed is that, by the time this becomes law, £15 will not have the same real value as £15 today, so treating it as a fixed economic shock is misleading. Wages are only one factor in a business model. If a company is so dependent on low-skilled, low-paid labour that a wage increase makes it unviable, then the issue is not simply the minimum wage — it is the fragility of the model itself. A business built around permanently suppressing labour costs is vulnerable to any change in the market, whether that is wages, energy, rent, rates, supply costs or customer demand. That is not a sustainable model; it is an opportunistic one that only works under favourable conditions.
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pitprop
pitprop@_OtherFella·
@JohnnyFocal It’s a small business with small margins set up when labour costs were £12.71 which you’ve reframed ‘cheap labour’ £15 is 18% more. He could put up prices but his customers will move to the chains so what should he do? Why not increase to £20 if we don’t want cheap labour?
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Jon Thompson
Jon Thompson@JohnnyFocal·
@_OtherFella If a business only works when wages stay low, that’s not a strong model — it’s one that relies on cheap labour to survive. That might be common, but it doesn’t make it sustainable or a good argument against higher wages.
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Peter McCormack 🏴‍☠️🇬🇧🇮🇪
Yes, so let's address why it is failing and what could make it thrive. It is failing because it can't sell enough product at a profitable level to cover its costs. How could it thrive? Well there is all the state imposed costs - VAT, Business Rates, high energy costs, NI increase, inflationary pressures etc... If these did not exist the place would be thriving. So what does this tell you, that the state imposes a drag which makes businesses fail. So what does that tell you?
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Dr Julia Grace Patterson💙
I’m presuming you’re a capitalist. As such I assume you’ll accept that your coffee shop is a failing business if you can’t afford to pay people properly. The market always knows best, right? 🤷‍♀️
Peter McCormack 🏴‍☠️🇬🇧🇮🇪@PeterMcCormack

A minimum wage of £15 would end my coffee shop, it would have to close, as would many other businesses. I’ll explain for the economically illiterate. Staff costs are currently half our costs, a £15 minimum wage is actually more than £15 an hour for the company, because you have to add: - 12.07% holiday - Sick pay - Maternity pay if and when required - National insurance - Pension contributions These costs would mean the shop loses money because remember, energy costs are up, rates are up, regulations are up. Now you can pass these costs onto the consumer - that would mean charging a lot more for coffee, people won’t pay it. The likes of Starbucks and Costa can, because they have economies of scale. The independent doesn’t. Now the little socialist will say well this is your fault, if you can’t run a business that can afford to pay its staff properly, but the little socialist has never run a business and does not understand the dynamics. Now I could pay some staff off and fill those hours myself or reduce us to one staff member during certain periods - but this proves the point that a minimum wage costs jobs. There was a time when these jobs were done by kids, perhaps on the weekend, paid a lower wage, no holiday and no silly employment rights. Perhaps they were even paid cash. The dynamic worked and small businesses like this could operate. It was also a great first job. Sadly now it isn’t worth employing entitlement youngsters at this level of pay. So alas, I don’t need the stress, the business would close, a number of jobs would be lost. Economics is about understanding these dynamics, no vibes. The cost of living is not solved through passing on inflation to the business, it is solved by ending high inflation and creating prosperity. This is what socialists don’t understand, they can’t create prosperity, they can only destroy it.

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pitprop
pitprop@_OtherFella·
@GoldnGuitars @camelfinance Hi Andrew - do you typically structure your trade around the initial confirmation (SL, SMA10, TL break) or do you wait for the backtest/higher low?
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Andrew 🇨🇦
Andrew 🇨🇦@GoldnGuitars·
Not sure if @camelfinance uses SMA10, but essentially most of us use some combo of what was cited. Timing window sets the stage. Swing-low first sign and then depending on what the decline looked like you'll either then break above the SMA10 or the declining TL. Both being used for confirmation. Finally you'll typically see some sort of backtest/higher low within the next 6-9 calendar days.
Crypto M.D@_Crypto_MD

@GoldnGuitars @MuchHorror Is your 3 part process similar to @camelfinance ‘s? Timing window Swing low TL break SMA10 DSS Bressert + Camels indicator confirmation? Curious to see what signals are shared across cycle traders. Cheers

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pitprop
pitprop@_OtherFella·
@allenf32 I mean perhaps, but I lived in North Carolina for 11 years and when I moved back to Hove a couple of years back I was struck by how poor everyone was. It was shocking. I told my friends endlessly which they loved obviously, but I couldn't un-see it. They are blind to it still.
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allen farrington
allen farrington@allenf32·
I've thought a lot about this over the past day or two and I think I have a novel interpretation as to why this almost perfectly captures how fucked the UK is. to be clear, I do not mean the reality of the comparison, I mean the fact that the Brits polled got it so comically wrong. the scale of welfare in the UK is absolutely insane (whatever your guess of both % and absolute numbers on welfare, I guarantee you it's higher, even if you factor this prompt into your guess). but, more importantly, it is largely regionally clustered around two equally pathetic groups: formerly industrial towns hollowed out because a) we only do finance now and b) energy is evil apparently, so even if you wanted to make something, you can't, and ii) ethnic ghettoes of unassimilated immigrants. why does this matter? because a huge number of Brits simply never see this. they never encounter these people. they may as well not exist as far as their *lived experience* (lololololol) is concerned. their existence is a far-right conspiracy. so when they are asked by some pollster to compare the UK to US states, they only compare what they have any familiarty with. and to be fair, insofar as their sample is hilariously biased, their estimates are probably correct. the 7th US state would put our GDP per capita at around $95k or £70k. £70k probably feels about right for the Britain of which they have any experience. but guess what, shitheads, you don't live in Britain! YOU LIVE IN YOOKAY! both the top and the bottom are dragged down relative to the US. in the US, the top is dragged way up by outliers starting (and then working at) outrageously successful businesses. in the UK, nobody does that, and if you do it by accident, you quickly leave before they tax you a kidney. in the US, the bottom is dragged down by welfare, yes, but the scale of the UK's self-immolation in this regard completely dwarfs it (I'm not going to tell you the numbers. I want you to guess and then go check, and make sure to strip out medicare and medicaid for a fair comparison given the NHS, envy of the world). the story isn't so much the comparison as the hilarity of the *correct analysis* of the comparison being completely lost on the Brits polled to come up with this. the subsidizers simply have no idea what country they live in, and they vote accordingly. the subsidized know exactly what country they live in, and they vote accordingly too.
GB Politics@GBPolitcs

🚨NEW: Poll reveals Brits thought the UK ranked 7th against US states in income per person, it actually ranks 51st

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Ape
Ape@ApeIsLive·
I need a memecoin that will do this. I'm willing to spend $100,000
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pitprop
pitprop@_OtherFella·
@robprogressive The CAGR of the UK money supply since 1970 is 9.24%. Put another way, your money is losing value at a rate of 9.24%, every year, compounding. At the end of 2026, when the money printers fire up your money will be devalued again.
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Rob Moore
Rob Moore@robprogressive·
People think that everything became more expensive, when what has really happened is the value of your money has been destroyed A minimum wage week in 1971 was £16 a week Gold was £17/oz, so it took about one week of work to buy 1oz of Gold Now a minimum wage week is £508.40 & Gold is £3,544 Which means is now takes SEVEN weeks to buy ONE oz of Gold You have to work SEVEN times as long, for the same ‘real’ moneyCan you see what’s really happening?!
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Ape
Ape@ApeIsLive·
If you have $15K in crypto rn, you are practically a millionaire if you can hodl.
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Andrew Gold
Andrew Gold@AndrewGold_ok·
I’ve been going to Spurs games since I was 4 (33 years). Quite a punishment. In recent years - like every other corporation - the club has soaked itself in the cultish waters of woke. Recently, they held Islamic prayer at the stadium for seemingly no reason. They’ve also been bringing these guys at @SpursLGBT out before games to tell the children in the stands who they like having sex with. Spoiler alert: the former would throw the latter off buildings for it. One corner of the stadium is now draped with the biggest trans flag you’ve seen. Almost nobody asked for this. Almost nobody wants this. People go to the football to get away from being lectured by morality police, even if just for 90 odd minutes. As with any cult or society, minorities who receive special treatment begin to feel entitled. Now, it is no longer enough to dominate the culture around football. This group believes it can dictate which manager Spurs can hire. The manager in question - de Zerbi - isn’t accused of doing anything himself. But of being associated with a player (by accounts a horrific man). If spurs are relegated, a great many very real people will lose very real jobs. Children will suffer from the firings of their parents. Do these people care? This just shows how shallow their performative caring is. And we are sick of it.
Proud Lilywhites@SpursLGBT

No to De Zerbi

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pitprop
pitprop@_OtherFella·
@TheSolarShed As of today only 8% of the UK is built upon. You want to build solar panels on 3%….!!!
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Kevin Holland
Kevin Holland@TheSolarShed·
Covering 3% of the UK with solar would generate as much electricity as the UK uses in a year. We have the solutions.
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pitprop
pitprop@_OtherFella·
@PeterMcCormack It’s impossible. Totally, completely and utterly impossible. It’s during these conversations you realise the friends you’ve had for years are really fucking strange.
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