quietthinker
Well-Known Member
The dark ages are a lesson for everyone. I guess many aspects will be replicated.
Returning To A 19th Century Standard Of Living Soon?
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I think what we have seen over the past few decades and 2020 are dull compared to the behind the scenes sinister and devious targeted plans in the works for near future. Fast, furious, death, destruction rolled out sounding like caviar on a golden platter for all.
Let me reprint this here for those who have not clicked on the link yet. It will be easier for all including me to read it in full than in the link itself, which is unfortunately riddled with advertisements:
Mike Yeadon, Ex-P0zer Scientist Sent This Out on Thursday. We Are Approaching Stage 5
By Australian National Review
Phase 1: Simulate a threat and create fear. (December 2019-March 2020) Mount a plandemic
– Kill tens of thousands of elderly people.
– Increase the number of cases and deaths
– Position vaccination as the only solution from the beginning. – Focus all attention on Covid-19.
Result, (almost) general panic
Phase 2: Sow the tares and division. (March 2020-December 2020)
– Impose multiple unnecessary, liberticidal and unconstitutional coercive measures. – Paralyze trade and the economy.
– Observe the submission of a majority and the resistance of a rebellious minority. – Stigmatize the rebels and create a horizontal division.
– Censoring dissident leaders.
– Punish disobedience.
– Generalize PCR tests.
– Create confusion between cases, infected, sick, hospitalized and dead. – Disqualify all effective treatments.
– Hope for a rescue vaccine.
Result, (almost) general panic.
Phase 3: Bring a treacherous and deadly solution. (December 2020-June 2021)
– Offer a free vaccine for everyone.
– Promise protection and return to normality.
– Establish a herd immunization target.
– Simulate a partial recovery of the economy.
– Hide statistics of side effects and deaths from injections.
– Passing off the side effects of the injections as “natural” effects of the virus and the disease.
– Recover the notion of a variant as a natural mutation of the virus.
– Justify the maintenance of coercive measures by not applying the herd immunity threshold. – Punish health professionals for the illegal exercise of care and healing.
Result, doubts and feelings of betrayal among the vaxx, discouragement among opponents.
Phase 4: Install Apartheid and the QR code. (June 2021-October 2021)
– Voluntarily plan for shortages.
– Impose the vaccination pass (QR code) to reward the vaccinated, punish the resistant.
– Create an Apartheid of the privileged against the others.
– Take away the right to work or study from non-vaxx.
– Withdraw basic services to the non-vaxx.
– Impose PCR payment tests on non-vaxx.
Result, First stage of digital control, impoverishment of opponents
Phase 5: Establish chaos and Martial law. (November 2021-March 2022)
– Exploit the shortage of goods and food.
– Cause the paralysis of the real economy and the closure of factories and shops.
– Let unemployment explode.
– Apply a third dose to the vaxx (boosters).
– Take up the murder of the living old men.
– Impose compulsory vaccination for all.
– Amplify the myth of variants, the eecacy of the vaccine and the immunity of the herd.
– Demonize the anti-vaxx and hold them responsible for the dead.
– Arrest opposition leaders.
– Impose digital identity on everyone (QR code): Birth certifcate, identity document, passport, driving license, health insurance card ...
– Establish martial law to defeat the opposition.
Result, Second stage of digital control. Imprisonment or removal of opponents.
Phase 6: Cancel the debts and dematerialize the money. (March 2022-September 2022)
– Trigger the economic, fnancial and stock market collapse, the bankruptcy of the banks.
– To rescue the losses of the banks in the accounts of their clients.
– Activate the «Great Reset».
– De-materialize money.
– Cancel debts and loans.
– Impose the digital portfolio. (Digital Wallet)
– Seize properties and land.
– Ban all global medicines.
– Confirm the obligation to vaccinate semi-annually or annually.
– Impose food rationing and a diet based on the Codex Alimentarius.
– Extend the measures to emerging countries.
Result, Third stage of digital control. Extension of the N.O.M. to the whole planet.
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Matthew 24:38-39 KJV
38) For as in the days that were before the flood they were eating and drinking, marrying and giving in marriage, until the day that Noe entered into the ark,
39) And knew not until the flood came, and took them all away; so shall also the coming of the Son of man be.
Much love!
38) For as in the days that were before the flood they were eating and drinking, marrying and giving in marriage, until the day that Noe entered into the ark,
39) And knew not until the flood came, and took them all away; so shall also the coming of the Son of man be.
Much love!
Let me say this, and I appreciate you posting the piece:
Phase 4: Install Apartheid and the QR code. (June 2021-October 2021)
– Voluntarily plan for shortages.
– Impose the vaccination pass (QR code) to reward the vaccinated, punish the resistant.
– Create an Apartheid of the privileged against the others.
– Take away the right to work or study from non-vaxx.
– Withdraw basic services to the non-vaxx.
– Impose PCR payment tests on non-vaxx.
Result, First stage of digital control, impoverishment of opponents
It seems to have some credibility to it, but they are already hitting snags in Phase 4 if so, particularly in the US. This country is exceedingly freedom-loving, and there has been considerable push-back on denying the rights of the non-vaccinated.
Phase 5: Establish chaos and Martial law. (November 2021-March 2022)
– Exploit the shortage of goods and food.
– Cause the paralysis of the real economy and the closure of factories and shops.
– Let unemployment explode.
– Apply a third dose to the vaxx (boosters).
– Take up the murder of the living old men.
– Impose compulsory vaccination for all.
– Amplify the myth of variants, the efficacy of the vaccine and the immunity of the herd.
– Demonize the anti-vaxx and hold them responsible for the dead.
– Arrest opposition leaders.
– Impose digital identity on everyone (QR code): Birth certifcate, identity document, passport, driving license, health insurance card ...
– Establish martial law to defeat the opposition.
Result, Second stage of digital control. Imprisonment or removal of opponents.
Again, Imposing Compulsory Vaccination will be tougher to accomplish in this country, though I suppose it might be possible. But I'd be interested to know what he meant by "Exploit the shortage goods and foods." I suppose by this he means raise their prices through the roof. "Cause the paralysis of the REAL economy" is the troubling line here. It means they fully recognize that the current "economy" we are enjoying is just a lie. Paralysis essentially means utter stagnation, and the term "Stagflation" is what many have been predicting is coming.
Phase 6: Cancel the debts and dematerialize the money. (March 2022-September 2022)
– Trigger the economic, financial and stock market collapse, the bankruptcy of the banks.
– To rescue the losses of the banks in the accounts of their clients.
– Activate the «Great Reset».
– De-materialize money.
– Cancel debts and loans.
– Impose the digital portfolio. (Digital Wallet)
– Seize properties and land.
– Ban all global medicines.
– Confirm the obligation to vaccinate semi-annually or annually.
– Impose food rationing and a diet based on the Codex Alimentarius.
– Extend the measures to emerging countries.
Result, Third stage of digital control. Extension of the N.O.M. to the whole planet.
Well, "Seize properties and land" sticks out like a sore thumb, because it is what much of this thread has been about. "To rescue the losses of the banks" also sticks out. Dematerializing the money doesn't actually seem all that far fetched at this point either. They were running shortages on coinage last year, which suggests they were gearing up for it.
I'd like to know exactly what is meant by some of these lines, and how they would come about. Let me analyze it some more. It's certainly interesting. It also begs the question where did he get this information from. If it's insider stuff, how did he attain it?
quietthinker
Well-Known Member
I have no information on its origin. Following these scenarios through, I see is a preparation of the inhabitants of the planet for 'the great solution' which most will embrace. What that 'solution' is, will be an authoritarianism akin to the dark ages in the sense that 'worship' will be legislated and enforced.
I see Revelation 13:11-18 being pertinent.
@Grailhunter.
Read an interesting piece on the economy this morning, and among other things it again relates how the banks have now situated themselves to survive what is coming upon everyone else in the economy in the not-too-distant future.
Another economic recession in 2022?
In the run up to the 2008 economic recession the bubbles were largely confined to the U.S. housing and credit markets. But today the bubbles are to be found in practically every corner of the world’s asset and credit markets... A particularly troubling instance of gross credit misallocation is that characterizing the emerging market economies, which now account for around half of the world economy. These economies have now become more indebted than ever before at relatively low interest rates as global investors have stretched for yield. This has been the case despite that the pandemic has upended their economies and, in many instances, put their public debt on an unsustainable path.
Over the past year, two factors have kept global asset and credit markets well bid. One is the large amount of money printing by the world’s major central banks, and the other is the strength of the world economic recovery from its March 2020 COVID-19 low. This makes today’s widespread complacency about economic recession risk in 2022 even more surprising considering that we appear to be on the cusp of a reversal in those two supportive factors.
With inflation now running at a rate well above their inflation targets, it’s only a matter of time before the world’s major central banks turn off the monetary policy spigots that have been fueling the “everything” bubble. Already at its last meeting, the Federal Reserve announced an acceleration of the tapering of its bond-buying program with a view to ending that program in March. That could pave the way for a more aggressive cycle of interest rate hikes than the market is currently expecting especially if the omicron variant prolongs global supply chain disruptions and causes another inflation uptick.
Yet another factor that could trigger the bursting of the global “everything” bubble might be a meaningful slowing in the global economy. In this context, markets seem to be overly complacent about the risks to the world economic recovery from the current surge in the omicron variant and from a possible sharp slowdown in the Chinese economy as a result of the acute problems in its property sector.
Economists and the Federal Reserve take comfort in knowing that today’s U.S. banking system is much better equipped to handle the bursting of an asset price bubble than it was in 2008. This seems to be blinding them to the high degree of exposure of the largely unregulated non-bank part of the financial system. That could be setting us up for a series of Long-Term Capital Management (LTCM) moments for which U.S. and world economic policymakers seem to be totally unprepared.
Another economic recession in 2022?
________________
In other words, the banks will be just fine. Everyone else in the non-banking sectors of the economy, however, will not be.
Read an interesting piece on the economy this morning, and among other things it again relates how the banks have now situated themselves to survive what is coming upon everyone else in the economy in the not-too-distant future.
Another economic recession in 2022?
In the run up to the 2008 economic recession the bubbles were largely confined to the U.S. housing and credit markets. But today the bubbles are to be found in practically every corner of the world’s asset and credit markets... A particularly troubling instance of gross credit misallocation is that characterizing the emerging market economies, which now account for around half of the world economy. These economies have now become more indebted than ever before at relatively low interest rates as global investors have stretched for yield. This has been the case despite that the pandemic has upended their economies and, in many instances, put their public debt on an unsustainable path.
Over the past year, two factors have kept global asset and credit markets well bid. One is the large amount of money printing by the world’s major central banks, and the other is the strength of the world economic recovery from its March 2020 COVID-19 low. This makes today’s widespread complacency about economic recession risk in 2022 even more surprising considering that we appear to be on the cusp of a reversal in those two supportive factors.
With inflation now running at a rate well above their inflation targets, it’s only a matter of time before the world’s major central banks turn off the monetary policy spigots that have been fueling the “everything” bubble. Already at its last meeting, the Federal Reserve announced an acceleration of the tapering of its bond-buying program with a view to ending that program in March. That could pave the way for a more aggressive cycle of interest rate hikes than the market is currently expecting especially if the omicron variant prolongs global supply chain disruptions and causes another inflation uptick.
Yet another factor that could trigger the bursting of the global “everything” bubble might be a meaningful slowing in the global economy. In this context, markets seem to be overly complacent about the risks to the world economic recovery from the current surge in the omicron variant and from a possible sharp slowdown in the Chinese economy as a result of the acute problems in its property sector.
Economists and the Federal Reserve take comfort in knowing that today’s U.S. banking system is much better equipped to handle the bursting of an asset price bubble than it was in 2008. This seems to be blinding them to the high degree of exposure of the largely unregulated non-bank part of the financial system. That could be setting us up for a series of Long-Term Capital Management (LTCM) moments for which U.S. and world economic policymakers seem to be totally unprepared.
Another economic recession in 2022?
________________
In other words, the banks will be just fine. Everyone else in the non-banking sectors of the economy, however, will not be.
What does the Word of GOD say? Revelation 6:v.12-17 and
I beheld when he had opened the sixth seal, and, lo,...the heaven departed as a scroll when it is rolled together; and every mountain and island were moved out of their places. (Isaiah 40:v.21-23 - 21 Have ye not known? have ye not heard? hath it not been told you from the beginning? have ye not understood from the foundations of the earth? 22 It is he that sitteth upon the circle of the earth, and the inhabitants thereof are as grasshoppers; that stretcheth out the heavens as a curtain, and spreadeth them out as a tent to dwell in: 23 That bringeth the princes to nothing; he maketh the judges of the earth as vanity).
15 And the kings of the earth, and the great men, and the rich men, and the chief captains, and the mighty men, and every bondman, and every free man, hid themselves in the dens and in the rocks of the mountains; (yeah, every mountain and island were moved out of their places, GOD bringeth the princes to nothing; he maketh the judges of the earth as vanity). 16 And said to the mountains and rocks, Fall on us, and hide us from the face of Him that sitteth on the throne, and from the wrath of the Lamb:
17 For the great day of His wrath is come; and who shall be able to stand?
THE WORD IS GOD. GOD IS SPIRIT. GOD IS WRATHED.
I beheld when he had opened the sixth seal, and, lo,...the heaven departed as a scroll when it is rolled together; and every mountain and island were moved out of their places. (Isaiah 40:v.21-23 - 21 Have ye not known? have ye not heard? hath it not been told you from the beginning? have ye not understood from the foundations of the earth? 22 It is he that sitteth upon the circle of the earth, and the inhabitants thereof are as grasshoppers; that stretcheth out the heavens as a curtain, and spreadeth them out as a tent to dwell in: 23 That bringeth the princes to nothing; he maketh the judges of the earth as vanity).
15 And the kings of the earth, and the great men, and the rich men, and the chief captains, and the mighty men, and every bondman, and every free man, hid themselves in the dens and in the rocks of the mountains; (yeah, every mountain and island were moved out of their places, GOD bringeth the princes to nothing; he maketh the judges of the earth as vanity). 16 And said to the mountains and rocks, Fall on us, and hide us from the face of Him that sitteth on the throne, and from the wrath of the Lamb:
17 For the great day of His wrath is come; and who shall be able to stand?
THE WORD IS GOD. GOD IS SPIRIT. GOD IS WRATHED.
Keraz
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An Explanation of the Sixth Seal:
Revelation 6:12-17;
I watched as the Lamb broke the Sixth Seal, – At this moment a Coronal Mass Ejection will explode out from the sun. Isaiah 30:26, Malachi 4:1, Zephaniah 3:8, Jeremiah 23:19 Triggered by the attack onto Israel, as per Psalms 83, Psalms 11:4-6, Psalms 50:1-3, 2 Peter 3:7
There was a violent earthquake – The microwave effect of the short wave spectrum penetrates the earth’s crust, triggering worldwide earthquakes by tectonic plate movement. Haggai 2:6, Deuteronomy 32:22, Isaiah 26:18-20, Amos 8:8-9, Psalms 18:7
The sun turned black as a funeral pall – Acts 2:20 The approaching mass of the CME will obscure the sun. Joel 2:31, Amos 5:20
The moon became a red as blood – Joel 2:31 The superheated hydrogen plasma strikes the moon and causes a thermoluminescent reaction with the metallic oxides of the moon dust. As well as: the bright red reflection of the initial flash. Isaiah 30:26a
The stars in the sky fell like ripe figs – All our satellites crash to earth, this is a known effect of the pressure wave of a CME. Isaiah 34:4, Isaiah 28:2
The sky vanished like a scroll being rolled up – Our magnetosphere and atmosphere facing the sun are pushed aside by this multi billion ton pressure wave of superheated hydrogen plasma. Jeremiah 30:23, Isaiah 34:4, 2 Peter 3:7 & 10, Isaiah 51:6
Every mountain and island moved from their place – Tectonic plate movement caused by the microwave effect. Deuteronomy 32:22, Jeremiah 4:23-24, Habakkuk 3:6, Isaiah 13:13 Also may cause a magnetic pole reversal.
Everyone from high to lowly hid themselves – every person on earth will be terrified by what is coming and they scramble for cover. Ezekiel 7:15-19, Zephaniah 1:3 & 11, Luke 21:25-26
They called out: Hide us from the wrath of the Lamb – People will dive for cover and most will survive, as they see this disaster approaching. The main mass of a CME will take 24 - 36 hours to arrive on earth. Isaiah 2:19, Isaiah 28:21-22, Jeremiah 25:38, Luke 23:30
For the great Day of the Lord has come and who can stand? Deuteronomy 32:22, Ezekiel 7:7, Zephaniah 1:14-18, Joel 1:15.
It is the next Prophesied event we can expect and as our modern infrastructure will be destroyed, we will return to a 19th Century style of living.
The Sixth Seal is the great Day of the Lord’s vengeance and wrath, prophesied over 100 times throughout the Bible, it is this terrible event that enables the establishment of a One World Government.
But those who took heed of the warnings, Isaiah 26:20-21, took shelter and at the same time called to the Lord for protection, Acts 2:21, 1 Peter 1:5, Psalms 68:1-3, Joel 2:32 & 3:16 and will receive the great blessings the Lord has for His faithful Christian people.
Revelation 6:12-17;
I watched as the Lamb broke the Sixth Seal, – At this moment a Coronal Mass Ejection will explode out from the sun. Isaiah 30:26, Malachi 4:1, Zephaniah 3:8, Jeremiah 23:19 Triggered by the attack onto Israel, as per Psalms 83, Psalms 11:4-6, Psalms 50:1-3, 2 Peter 3:7
There was a violent earthquake – The microwave effect of the short wave spectrum penetrates the earth’s crust, triggering worldwide earthquakes by tectonic plate movement. Haggai 2:6, Deuteronomy 32:22, Isaiah 26:18-20, Amos 8:8-9, Psalms 18:7
The sun turned black as a funeral pall – Acts 2:20 The approaching mass of the CME will obscure the sun. Joel 2:31, Amos 5:20
The moon became a red as blood – Joel 2:31 The superheated hydrogen plasma strikes the moon and causes a thermoluminescent reaction with the metallic oxides of the moon dust. As well as: the bright red reflection of the initial flash. Isaiah 30:26a
The stars in the sky fell like ripe figs – All our satellites crash to earth, this is a known effect of the pressure wave of a CME. Isaiah 34:4, Isaiah 28:2
The sky vanished like a scroll being rolled up – Our magnetosphere and atmosphere facing the sun are pushed aside by this multi billion ton pressure wave of superheated hydrogen plasma. Jeremiah 30:23, Isaiah 34:4, 2 Peter 3:7 & 10, Isaiah 51:6
Every mountain and island moved from their place – Tectonic plate movement caused by the microwave effect. Deuteronomy 32:22, Jeremiah 4:23-24, Habakkuk 3:6, Isaiah 13:13 Also may cause a magnetic pole reversal.
Everyone from high to lowly hid themselves – every person on earth will be terrified by what is coming and they scramble for cover. Ezekiel 7:15-19, Zephaniah 1:3 & 11, Luke 21:25-26
They called out: Hide us from the wrath of the Lamb – People will dive for cover and most will survive, as they see this disaster approaching. The main mass of a CME will take 24 - 36 hours to arrive on earth. Isaiah 2:19, Isaiah 28:21-22, Jeremiah 25:38, Luke 23:30
For the great Day of the Lord has come and who can stand? Deuteronomy 32:22, Ezekiel 7:7, Zephaniah 1:14-18, Joel 1:15.
It is the next Prophesied event we can expect and as our modern infrastructure will be destroyed, we will return to a 19th Century style of living.
The Sixth Seal is the great Day of the Lord’s vengeance and wrath, prophesied over 100 times throughout the Bible, it is this terrible event that enables the establishment of a One World Government.
But those who took heed of the warnings, Isaiah 26:20-21, took shelter and at the same time called to the Lord for protection, Acts 2:21, 1 Peter 1:5, Psalms 68:1-3, Joel 2:32 & 3:16 and will receive the great blessings the Lord has for His faithful Christian people.
Brakelite
Well-Known Member
This thread presents a possible scenario and seemingly plausible timeline for the financial future of the planet. But this financial paradigm I think we need to realize is but a means to an end. The real goal is a global religion that shuts out Jesus, introducing a counterfeit. Both scenarios however have been on the workbench of the world's leaders and secret societies for centuries. They've been playing a very long game. I've just posted a video that connects the occult agenda to the United Nations. Some may have seen some of the material from other sources, but it's fascinating how matters have developed in manipulating society, particularly in education, over the 18 years since this lecture was first given.
The United Nations and the Occult
The United Nations and the Occult
The woman -the true Church of the Lord-the Christ's body- is clothed with the sun, understand? Without sun there is not life, course.
You watched not, why to deceive my brothers in Christ JESUS? And the sun will not be exploded by your CME, absolutely. Forget it. Also you are wasting your time trying to associate the Word of God, inspired by the Holy Spirit -the Word is GOD- with your speculations, imaginations, presumptions and conjectures, foolish opinions and empty words. All the things you said are just the way the Devil likes it because they are fake, what is false strengthens his world, it belongs to him.
By the way, the woman -the true Church of the Lord-the Christ's body- is clothed with the sun, understand? Without sun there is not life, course.
What? Your spirit wants to convince my brothers in Christ to believe that the Holy Spirit was calling the satellites manufactured in the world of Devil by China, and Russia, and USA, among others, as they were the stars linked to the Holy Scriptures? O, please. the Holy Spirit is not blind like you, the god of this world has blinded your mind.
Be careful OT get ready. The message you are preaching has nothing to do with the environment of the Kingdom of GOD, by no manner of means. Your theories will be burned with everlasting fire-Isaiah 33:v.14 and 1 Corinthians 3:v.12-13.
Just nonsenses of yours. Your theories of Physic have nothing to do with the revelations of the Word of GOD - the Word is GOD - understand?
Revelation 12:v.1-3
1 A great wonder there appeared in heaven (heaven is a celestial environment, it has nothing to do with the physical space of Universe); appeared a woman clothed with the sun-Malachi 4:v.2-3-, and the moon under her feet, and upon her head a crown of twelve stars: (Stars are not sattelites as you preached in your post)
2 And she being with child cried, travailing in birth, and pained to be delivered.
3 And there appeared another wonder in heaven; and behold a great red dragon, having seven heads and ten horns, and seven crowns upon his heads. By the way, the true believers/Christians, as angels of the LORD, must fight against the red Dragon; he cannot stay here in this heavenly environment, so he must be cast down from this heavenly place in Christ to the earth, and after to the bottomless pit.
The LORD said: He that hath my Word, let him speak my Word faithfully. What is the chaff to the wheat? saith the Lord. Jeremiah 23:v.28
You invented a lot of fantasies based in theories of the Devil's world, and you trie to give support to your satanic theories making mentions of the biblical books in the way Satan likes, as the Devil made with Eve and Adam to deceive them both. Actually your devilish theories are a stumbling block, your thinking is from a human perspective, not from God's perspective.
Be careful OR get ready.
As per the OP, what's happening in the UK may be a sign of things to come for the rest of us. The UK is now experiencing a sharp rise in credit card borrowing in the wake of rises in the cost of living, and steep climbs in inflation.
Full article reproduced below:
UK credit card borrowing surges amid cost of living crisis
Concerns that low-income households are turning to expensive forms of lending as inflation soars. A surge in credit card borrowing to a record high last month has prompted concerns that low-income households are turning to expensive forms of lending to cope with rising costs of food, clothing and fuel. Figures from the Bank of England showed credit card borrowing jumped by £1.5bn in February to £59.5bn – the highest since records began in 1993 – pushing the total amount of unsecured lending up by 90% on the prior month to £1.9bn.
The central bank said the rise pushed the annual growth rate for all forms of unsecured credit from 3.2% to a two-year high of 4.4%, raising the total outstanding balance of consumer credit to £199.5bn.
With shoppers turning to cheaper supermarkets such as Lidl and Aldi to make ends meet and increasing numbers of families saying they are being forced to choose between eating and heating, anti-poverty charities said it was worrying that consumers were spending more on credit cards.
Joanna Elson, the chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said the figures provide “an indicator of the underlying challenges households face in meeting the growing cost of living” as she called on the chancellor to provide more targeted help for hard-pressed households. “Our concern is that more people will be pushed to credit to cover rising bills, which could be storing up problems further down the line when repayments are due,” she said.
Liberal Democrat Treasury spokesperson Christine Jardine said it was unsurprising that households were turning to credit cards when the government was adding to “real-terms cuts to household incomes with its stealth taxes and its failures on pensions and benefits”. She said: “More and more people will have no choice but to turn to credit cards, massively increasing their long-term costs, just to make ends meet.”
Some economists said it was possible the increase in credit card spending, which followed the lifting of restrictions related to the Omicron variant, showed a renewed confidence among consumers before Russia’s invasion of Ukraine.
Paul Dales, the chief UK economist at the consultancy Capital Economics, said: “It is more likely that households had the confidence to borrow and spend a bit more and/or were willing to use borrowing/savings to smooth their spending.”
Number of UK households with large debts rises by a third
Read more
However, Samuel Tombs, the chief economist at the consultancy Pantheon Macroeconomics, said separate figures showing a collapse in consumer confidence between January and March, and a sharp slowing of mortgage lending, pointed to caution among most households.
“The big rise in consumer borrowing in February – the largest since April 2018 – likely reflects households attempting to maintain their consumption at a time when real disposable income is falling sharply, rather than them going on a spending spree,” he said. Bank figures also showed that consumers were supported in their efforts to borrow by lower loan rates in February, despite an increase in the central bank’s base rate from 0.1% to 0.5% between December and February. Credit card interest rates averaged 18.26%, down 0.29 percentage points, while standard credit loans fell to 6.14% from 6.23%.
Tombs added that the value of “excess savings” edged higher to £186.0bn, from £185.7bn in January, showing that households were unwilling to run down their savings while the economic outlook was uncertain. The Treasury’s independent forecaster, the Office for Budget Responsibility, has predicted that the UK’s economic growth will be sustained this year and next by consumers spending much of their accumulated savings. Tombs said the stock of unsecured credit last month was “a hefty £26bn below its pre-Covid peak”, so households without savings should be able to ramp up their borrowing further. “We continue to think, therefore, that the economy will narrowly avoid sliding into recession this year, despite the grim outlook for households’ real incomes,” he added.
UK credit card borrowing surges amid cost of living crisis
Full article reproduced below:
UK credit card borrowing surges amid cost of living crisis
Concerns that low-income households are turning to expensive forms of lending as inflation soars. A surge in credit card borrowing to a record high last month has prompted concerns that low-income households are turning to expensive forms of lending to cope with rising costs of food, clothing and fuel. Figures from the Bank of England showed credit card borrowing jumped by £1.5bn in February to £59.5bn – the highest since records began in 1993 – pushing the total amount of unsecured lending up by 90% on the prior month to £1.9bn.
The central bank said the rise pushed the annual growth rate for all forms of unsecured credit from 3.2% to a two-year high of 4.4%, raising the total outstanding balance of consumer credit to £199.5bn.
With shoppers turning to cheaper supermarkets such as Lidl and Aldi to make ends meet and increasing numbers of families saying they are being forced to choose between eating and heating, anti-poverty charities said it was worrying that consumers were spending more on credit cards.
Joanna Elson, the chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said the figures provide “an indicator of the underlying challenges households face in meeting the growing cost of living” as she called on the chancellor to provide more targeted help for hard-pressed households. “Our concern is that more people will be pushed to credit to cover rising bills, which could be storing up problems further down the line when repayments are due,” she said.
Liberal Democrat Treasury spokesperson Christine Jardine said it was unsurprising that households were turning to credit cards when the government was adding to “real-terms cuts to household incomes with its stealth taxes and its failures on pensions and benefits”. She said: “More and more people will have no choice but to turn to credit cards, massively increasing their long-term costs, just to make ends meet.”
Some economists said it was possible the increase in credit card spending, which followed the lifting of restrictions related to the Omicron variant, showed a renewed confidence among consumers before Russia’s invasion of Ukraine.
Paul Dales, the chief UK economist at the consultancy Capital Economics, said: “It is more likely that households had the confidence to borrow and spend a bit more and/or were willing to use borrowing/savings to smooth their spending.”
Number of UK households with large debts rises by a third
Read more
However, Samuel Tombs, the chief economist at the consultancy Pantheon Macroeconomics, said separate figures showing a collapse in consumer confidence between January and March, and a sharp slowing of mortgage lending, pointed to caution among most households.
“The big rise in consumer borrowing in February – the largest since April 2018 – likely reflects households attempting to maintain their consumption at a time when real disposable income is falling sharply, rather than them going on a spending spree,” he said. Bank figures also showed that consumers were supported in their efforts to borrow by lower loan rates in February, despite an increase in the central bank’s base rate from 0.1% to 0.5% between December and February. Credit card interest rates averaged 18.26%, down 0.29 percentage points, while standard credit loans fell to 6.14% from 6.23%.
Tombs added that the value of “excess savings” edged higher to £186.0bn, from £185.7bn in January, showing that households were unwilling to run down their savings while the economic outlook was uncertain. The Treasury’s independent forecaster, the Office for Budget Responsibility, has predicted that the UK’s economic growth will be sustained this year and next by consumers spending much of their accumulated savings. Tombs said the stock of unsecured credit last month was “a hefty £26bn below its pre-Covid peak”, so households without savings should be able to ramp up their borrowing further. “We continue to think, therefore, that the economy will narrowly avoid sliding into recession this year, despite the grim outlook for households’ real incomes,” he added.
UK credit card borrowing surges amid cost of living crisis
Just to add that compulsory jabs are no longer a factor here, not mandated anymore. Many who were vaccinated are no longer open to more vaccines. Many don’t even test now……you don’t need QR I d,
Of course that doesn’t mean that all is well behind the scenes or that things are not being manipulated or used.
So phase 5 , which was suppose to be completed by March 22 has not in fact happened here, also not happened in Germany. Many from the U.K. have travelled to other countries without any proof of anything other that the usual and normal travel documents…….
The price of gas and electric has created a problem as price caps imposed some years ago were lifted.
The situation in the Ukraine is definitely being used……..
Of course that doesn’t mean that all is well behind the scenes or that things are not being manipulated or used.
So phase 5 , which was suppose to be completed by March 22 has not in fact happened here, also not happened in Germany. Many from the U.K. have travelled to other countries without any proof of anything other that the usual and normal travel documents…….
The price of gas and electric has created a problem as price caps imposed some years ago were lifted.
The situation in the Ukraine is definitely being used……..
Oh, you mean the Mike Yeadon piece? Yeah, I sensed that might be a bit over the top and that it would run into trouble, in the States at the very least.
I just find it interesting that the standard of living is indeed tanking at an alarming pace. I was reading elsewhere that the cost of the standard of living worldwide has increased by something like 30% over the last several months while the average wage earnings has increased only by about 4%, which means the lower class, who spend up to 50% of their income on food, are starting to really feel the pinch already.
If that article I just posted is correct, it sounds like things are effecting the UK more quickly than here.
Things have been going up on a regular basis, but the fuel rises, and then the cap being lifted hit more around the beginning of April….I have just had a pay rise ( not much in care , but better than usual ) The government put up our national insurance a few weeks ago. Also local council taxes ( what we pay each month to the local authorities ) also went up, but they are giving the lower groups 150:00 cash rebates. ( I am in that group ) also the government are meant to be giving the lower income families another 300:00 in the autumn ( when another rise in gas and electric is due ). My dads Gas is expected to rise by 400:00 a year and his electric Just a bit lower, that will increase in Oct. His pension went up by 1:00 a week !!!!!!
Petrol prices went up, but then many places are lowering it again ( but still higher than it was ) this of course has a knock on effect of everything. My son is an electrician and say that the copper cable has almost doubled in price to buy…..which means they have had to increase their charges ( which will happen with other trades and work ) Rita
Petrol prices went up, but then many places are lowering it again ( but still higher than it was ) this of course has a knock on effect of everything. My son is an electrician and say that the copper cable has almost doubled in price to buy…..which means they have had to increase their charges ( which will happen with other trades and work ) Rita
quietthinker
Well-Known Member
Brakelite
Well-Known Member
If Christians aren't yet making positive and radical moves to draw closer to Jesus, learning to cleave to Him and to trust Him implicitly for all their needs, shedding the love for this world and it's luxuries and needless comforts, they will find themselves in deep trouble very shortly. It's time to learn to exercise faith. And share what God gives with those in need... The first step in sharing the gospel.
I agree with you.
My wife does housecleaning for some more well-to-do families in the city, and she was mentioning how the other day one of the couples was clearly not in a good mood, presumably over money; that their business was losing a ton of it, and/or other financial matters were not going so well. I think those who have not come to grips with the fact that the ship is now sinking will be hit even harder by the realization of it when it finally sets in. I think many haven't grasped how serious this situation is yet, and when they do the shock will be even greater.
And things really don't have to be that bad for those who are aware we just have to make some adjustments, and that some changes will have to be made in our expectations. I find myself already mulling over what happens when we might occasionally have to depend on the Lord providing a meal or two here or there, not really having anything in the house, or at least not anything we really want. But then I just think, "Brother, you weigh too much already anyway. Missing a meal or two will do you some good." Lol.
So I'm ready. Meanwhile, I know what my country is like, especially this State. Most of them will flat out start freaking out if there are serious runs on goods. They will get paranoid like the sky is falling, when what is coming should not be a surprise at this point. I suppose I should just focus on the fact that I am grateful my hope rests in Christ Jesus and not in the world. What an awful thing to go into dog-eat-dog mode and start fighting someone over a can of beans because we didn't pay any attention until it was too late.
Regarding Australia's standard of living crisis, this whole article is good, but as per the dream I found the following two paragraphs especially interesting:
Residential property prices rose nationally by an average of 23.7 percent, the biggest increase on record... Any increase in [interest] rates will hit the working class the hardest. Loans and advances across the economy stand at $2,966.1 billion, or around 150 percent of GDP. Hit by declining incomes, ordinary people have gone into ever greater debt, much of it in housing costs.
According to the Australian Prudential and Regulation Authority, almost a quarter of mortgage loans in the December quarter were to households with debt six times greater than income. With wages forecast to remain stagnant at less than 3 percent this year, any interest rate rise could push hundreds of thousands of households over the financial cliff. A possible fall in house prices could also leave them with a mortgage greater than the value of the property it secures.
Australia’s rising cost of living outpacing official inflation
In other words, any significant rise in interest rates and/or fall in housing prices at this point could leave them "underwater."
Residential property prices rose nationally by an average of 23.7 percent, the biggest increase on record... Any increase in [interest] rates will hit the working class the hardest. Loans and advances across the economy stand at $2,966.1 billion, or around 150 percent of GDP. Hit by declining incomes, ordinary people have gone into ever greater debt, much of it in housing costs.
According to the Australian Prudential and Regulation Authority, almost a quarter of mortgage loans in the December quarter were to households with debt six times greater than income. With wages forecast to remain stagnant at less than 3 percent this year, any interest rate rise could push hundreds of thousands of households over the financial cliff. A possible fall in house prices could also leave them with a mortgage greater than the value of the property it secures.
Australia’s rising cost of living outpacing official inflation
In other words, any significant rise in interest rates and/or fall in housing prices at this point could leave them "underwater."
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