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@just_swe_

London, England Katılım Mayıs 2024
785 Takip Edilen18 Takipçiler
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aj@just_swe_·
@BladeoftheS gbtt.info/your-generation Please read this. Landlords are a symptom and not the root cause. Ask yourself who tweaked the system in a way that kickstarted the housing bubble.
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BladeoftheSun
BladeoftheSun@BladeoftheS·
In the late 1970's Landlords only owned about 5% of housing. It is now 25% and the biggest single cause of house price and rental inflation. The Landlords need to be culled for the good of everyone else.
London Money@LondonMoneyFS

I don’t recall this headline from the year 2000: “ 700 FTBs don’t buy a home every day as British landlords buy up “ Spin it all you want, play whatever violins you can lay your hands on, but BTL was a significance destroyer of a once semi functioning housing market

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aj@just_swe_·
@investingidiocy Even if we substitute coffee shops for any other business type, there is no positive outcome for increasing the minimum wage. You are just perpetuating the wage-price spiral.
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Rob Carver
Rob Carver@investingidiocy·
Unpopular opinion: there are too many coffee shops
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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aj@just_swe_·
@_Unknown_D_ There is no economics behind it lol. The Green Party appeals to the voter that doesn’t think in systems or second-order consequences.
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D@_Unknown_D_·
My question in regards to the Green Party pledge to raise the minimum wage to £15 is why stop at £15? If it holds true that all we need to do to improve living standards is just increase the minimum wage then why not make it £20, £30 or £40. Whats the economics behind £15?
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aj@just_swe_·
@JujuliaGrace If housing + energy skyrocket due to government/BoE policy, why should a business cover that extra cost to workers through wage increases? Why are you angry at local business owners and not them? That line of thinking would decimate profits.
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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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aj@just_swe_·
@AwkwardcL @PeterMcCormack 1. Stop debasing the currency 2. Fix housing (land value tax, planning reform etc.) 3. Reduce low skilled immigration that inflates supply of minimum wage workers People won’t be squeezed as much on the minimum wage now.
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Corey Leslie
Corey Leslie@AwkwardcL·
@just_swe_ @PeterMcCormack So we need to reintegrate hoarded money into the economy, which won't ever happen unless it's by force, which won't happen because the money controls the force xD. So, how do we REALLY combat wage inequality? That's what this ultimately is right?
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Peter McCormack 🏴‍☠️🇬🇧🇮🇪
Of course I can make this argument because I see the numbers. I should make the argument as I have the platform to create wider awareness. I do subsidise the business because the coffee shop is a labour of love but many small independents don’t have that luxury, hence the wave of small businesses closing. Honestly, I’m questioning whether you even know how to engage your brain with such a dumb comment.
Alonso Gurmendi@Alonso_GD

@PeterMcCormack I’m saying I don’t think you’re in any obligation to operate as a small business and are prob not the right person to make the argument. You absolutely can pay workers whatever you want. You choose the pay. You are not bound by these economics. Hell you could do counter lobbying

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aj@just_swe_·
@PeterMcCormack People think businesses are responsible for paying a living wage and not the value of the labor itself. The highest cost to people is usually housing. If housing becomes 10x more expensive due to government/BoE policy, why is it on the business owner to cover that for workers?
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Peter McCormack 🏴‍☠️🇬🇧🇮🇪
A simple message to the silly socialists. You’re upset by businesses telling you that they will fail with the minimum wage increase. You’re telling business owners silly things like if you can’t pay the minimum wage then you don’t have a viable business. I want to make this easier to understand, because if you mean what you say, you want people to have jobs and earn a liveable wage. So listen, businesses fail for all kinds of reasons, mainly because they are unprofitable. We are seeing a wave of business closures at the moment because of the compounding costs from the state against a cost of living crisis. To make a cup of coffee profitable it has to eat a lot costs: - 20% VAT (the inputs can’t be claimed back) - Business rates (a tax before you earn) - Rising NI costs - Employment rights load - Rising energy costs - Inflation All these are imposed by the state. There is also a time tax with all the accounting, HR and regularity requirements which impose cost of consultants and time costs to ensure compliance, distracting owners from operating their businesses. Then there are the other normal costs. A business owner needs to make a profit else the business fails. If the business fails there are less jobs and lower tax receipts. If there are less jobs then public services crumble and welfare requirements increase. This is a compounding problem and what leads to the downward spiral of a country. So… where does the money come from if there are less jobs. The government borrows it, that increase in the money supply drives more inflation, making life more expensive for the people you want to help. Some who now don’t have the job they once had. So what now? What is your plan? I get it, you don’t really have one, this is what has happened to every socialist state, this is how a country goes from rich to poor. We have no divine right to be a wealthy nation and can certainly lose that status. So this is your challenge, can you accept society has a distribution of wealth which means there are rich and poor or would you rather everyone was poorer as long as there are no rich. That’s what socialists tend to want, though I have a secret for you, you can’t get rid of people being rich. I know you think profit is ugly, but the profit motive is what creates business and jobs. So anyway. I’m going to keep promoting proper economics because that’s how a nation becomes prosperous and prosperity leads to a net better outcome for all. This does mean I am going to have to make fun of your stupid socialist ideas. Good luck, read a book and stop being a dumb dumb.
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aj@just_swe_·
@AwkwardcL @PeterMcCormack 1.BoE debases currency via money supply expansion 2.Cost of living rises 3.Workers can’t afford basics 4.Politicians mandate minimum wage increases 5.Demand-side inflation follows 6.Purchasing power drops again Solution: monetary + supply side reforms
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Corey Leslie
Corey Leslie@AwkwardcL·
@just_swe_ @PeterMcCormack Pound is still more valuable than the dollar though yeah? I agree though, the inflation issue needs addressing, but to put all of it, or most of it on minimum wage increase...nah lol. As a business owner, your model should allow for this type of stuff right?
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aj@just_swe_·
@AwkwardcL @PeterMcCormack We should be asking ourselves why inflation keeps going up in the first place. The BoE has inflated the money supply through various policies and money has poured into assets (housing). The Pound is being devalued every year and it’s not the fault of the coffee shop owner.
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aj@just_swe_·
@AwkwardcL @PeterMcCormack What do you think the living wage should be? Why not make it £20 per hour, or £30? If workers suddenly have more money, without an increase in productivity, you have more money chasing the same good and services (inflation). You should be paid equivalent to the value of provide.
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aj@just_swe_·
@AwkwardcL @PeterMcCormack What is a living wage? An arbitrary number defined by the government? Businesses should be paying the market value for the wage where supply meets demand. It’s not the fault of your local coffee shop that government policies have caused the housing and energy crises.
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Corey Leslie
Corey Leslie@AwkwardcL·
@PeterMcCormack I mean...can you at least answer why someone would start a business while being unable to pay their workers a living wage? What's the thought process behind that? Since you're a multi millionaire business owner.
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aj@just_swe_·
@GeneralFoxxxy @Economics21st Really? You think that is the biggest factor for rising prices? Nothing to do with supply side shocks, wars, currency devaluation etc. ? @PeterMcCormack has some great videos about this , highly recommended.
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Faith🐇 🏳️‍🌈 🔞 18+
If you can't afford to pay your staff a living wage you shouldn't be in business.
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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Brivael
Brivael@brivael·
Hello Julia, sans aucune ironie, c'est top que tu prennes le temps de te renseigner. Mais le problème quand on lit Marx aujourd'hui, c'est qu'on prend pour acquis sa prémisse de départ, alors qu'elle a été démontée scientifiquement il y a plus de 150 ans. Toute la pensée de Marx repose sur la théorie de la valeur-travail. L'idée que la valeur d'un bien vient de la quantité de travail nécessaire pour le produire. Si tu acceptes cette prémisse, alors oui, tout son raisonnement tient. Le capitaliste "vole" la plus-value du travailleur, l'exploitation est mathématique, la révolution est inévitable. Sauf qu'en 1871, trois économistes (Menger en Autriche, Jevons en Angleterre, Walras en Suisse) découvrent indépendamment la même chose : la valeur n'est pas objective, elle est subjective et marginale. Un verre d'eau dans le désert vaut une fortune. Le même verre à côté d'une rivière ne vaut rien. Le travail incorporé est identique. Donc le travail ne détermine pas la valeur. C'est le consommateur qui valorise un bien selon son utilité marginale dans un contexte donné. Exemple concret : tu peux passer 1000 heures à tricoter un pull moche que personne ne veut. Selon Marx, ce pull a énormément de valeur (beaucoup de travail incorporé). Selon la réalité, il ne vaut rien. Parce que personne n'en veut. À l'inverse, Bernard Arnault crée des milliards de valeur non pas parce qu'il "exploite" mais parce qu'il a su anticiper et organiser des désirs humains à grande échelle. La valeur est créée par la coordination, pas extraite par le vol. Cette découverte (la révolution marginaliste) a invalidé tout l'édifice marxiste. Pas pour des raisons idéologiques, pour des raisons scientifiques. C'est pour ça que plus aucun département d'économie sérieux au monde n'enseigne Marx comme un cadre d'analyse valide. On l'enseigne en histoire de la pensée. Maintenant, le truc important. Si ton intention en lisant Marx c'est d'aider les pauvres (c'est une intention noble), alors tu vas être surprise par ce qui suit. Regarde les chiffres de la Banque mondiale. En 1820, 90% de l'humanité vivait dans l'extrême pauvreté. Aujourd'hui, moins de 9%. Cette chute historique ne s'est PAS produite dans les pays qui ont appliqué Marx. Elle s'est produite dans les pays qui ont libéralisé leur économie. Chine post-1978, Vietnam post-1986, Inde post-1991, Pologne post-1989. À chaque fois qu'un pays libéralise, des centaines de millions de gens sortent de la pauvreté en une génération. À chaque fois qu'un pays applique Marx (URSS, Cambodge, Corée du Nord, Venezuela), c'est la famine et les goulags. Ce n'est pas une opinion, c'est l'expérience la plus massive jamais menée en sciences sociales. Plusieurs milliards de cobayes humains, sur un siècle. Donc paradoxalement, si tu aimes vraiment les pauvres, la position la plus cohérente n'est pas d'être marxiste. C'est d'être pour la liberté économique. Parce que c'est empiriquement la seule chose qui a jamais sorti massivement les gens de la misère. Pour creuser, je te recommande trois lectures qui vont changer ta vision : "La Loi" de Frédéric Bastiat (court, lumineux, gratuit en ligne) "La Route de la Servitude" de Hayek "Économie en une leçon" de Henry Hazlitt Bonne lecture, et vraiment chapeau de chercher à comprendre plutôt que de rester dans tes certitudes. C'est rare.
Julia ひ@lifeimitatlife

Depuis tout à l'heure je me renseigne sur les idées de Karl Marx sincèrement je n'arrive pas à comprendre comment on peut être pour le capitalisme et même plus généralement être de droite

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Louis Mosley
Louis Mosley@louismosley·
@ZackPolanski - this is magnificent. Three things I can’t deny: 1. It is a video. 2. You are wearing a jacket. 3. Then you aren’t. 4. Then you are again. Unfortunately that’s where the accuracy ends. A few corrections for you: Peter Thiel is not our CEO. Alex Karp is — and has been for 20+ years. (A lifelong Democrat, for anyone keeping score.) We are not a “spyware company.” Spyware is malware. Malware is illegal. Calling a software company spyware is, technically, defamatory (don’t worry, we are not suing). We don’t build surveillance technology. We build software that helps organisations make sense of data they already hold. Not the same thing. There was no “private tour” of our HQ. There was a public photocall to which the media came. Hence, why there are so many pictures of the event. Our MOD contract is not “the biggest defence contract in UK history.” Ajax armoured vehicles = £5.5bn. Dreadnought submarines = £31bn. We’re grateful for the work, but let’s keep a sense of scale. We have no more access to NHS data than Microsoft has to the contents of your Word documents. I think you know this by now. We don’t have access to patient medical records. Same story. I agree that “nothing matters more than our health.” Which makes it worth reminding you of what Palantir’s software is actually doing in the NHS right now: ->110,000 additional operations ->15% fewer delayed hospital discharges ->7% more patients finding out within 28 days whether they have cancer Respect again for what you did with that jacket.
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Élodie
Élodie@TribeOfArsenal·
Nah Arsenal fans are creative 🥶. "All out assault, no survivors " 📽️ @mavthefilmmaker
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aj@just_swe_·
@sartejt @PolitlcsUK What’s the solution? How can you teach you the public about the structural issues and not just the symptoms?
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TEJ
TEJ@sartejt·
@PolitlcsUK 65% of Brits are economically illiterate boneheads
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Politics UK
Politics UK@PolitlcsUK·
🚨 NEW: 65% of Brits support the Green Party's policy of capping CEO pay at ten times the pay of the lowest paid employee
Politics UK tweet media
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Zynx
Zynx@ZynxBTC·
I'd argue that this chart is the single most consequential for Britain over the last 50 years. This chart tells the whole story in one image. What you're looking at is the UK M4 money supply, which is the broadest measure of money in the economy. From 1963 to 2025, from ~£13.7 billion to ~£3.3 trillion. The key inflection points: 1) Nixon's Shock (1971) - the moment the dollar lost its gold backing. Before this, the line is essentially flat but after it, the slow upward creep begins. The anchor is gone and the printing starts. 2) Post-1971 to GFC (2008) - a long, steady exponential expansion. Money supply grows roughly 60x over 35 years. House prices, asset values and debt grow with it. Then with the crash in 2008, we get a vertical jump as quantitative easing arrives. Very aggressive money printing. 3) COVID (2020) - the second near-vertical jump. Even more aggressive than 2008. No pretence of restraint. The line goes almost straight up. It's this image that represents the destruction of Britain. This is why you cannot afford a home or a family. Money supply has increased 241x since 1963. Since 2000 it has increased 4x. Every crisis is met with more money. Every time money is printed it makes the next crisis more likely and the required response larger. You will never outrun the money printer. The money printer does not pay tax.
Zynx tweet media
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Peter McCormack 🏴‍☠️🇬🇧🇮🇪
If you really want to understand why the financial system will always extract upwards, you must watch my pod with @LynAldenContact. There is no escaping the mechanics of the economic system. Endless debt. Endless inflation. Link for the full show 👇
Peter McCormack 🏴‍☠️🇬🇧🇮🇪 tweet media
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