2020 Potential Economic Collapse

[jansman]

So,before The Virus,the world economic outlook was shaky to say the least.Now we have a forced global shutdown of the Economy.Governments around the world are borrowing/printing money like there's no tomorrow,and that leads to inflation,and measures to curb rampant inflation generally include raising interest rates.Well,right now there is plenty of room to raise them! Then of course there is the prospect of debt default,and lenders get twitchy,so outfits like the IMF step in and impose austerity budgets.Remember this in Greece?

https://www.bbc.co.uk/news/world-europe-33307263

Of course,all the above leads to unemployment.So,less folks earning money they can spend,less tax revenues,and more claims from an already overburdened welfare system.

Aah well,at least the sun is shining.

But at least they can fly in workers to pick our fruits for harvest, I would have thought there would have been quite a few locals very keen to get out from lockdown and work the fields instead of flying people here to do it. I have not seen any adverts for fruit pickers or farm workers and we live in quite a high farming area. I do wonder if the farmers are mistreating the staff to such a level they prefer not to use locals who would complain. This may be viewed as a political post so I best stop, admin please remove if needed

The trouble with recruiting British agricultural workers is simple: it is seasonal, temporary, you have to live on- site, and you are effectively a migrating worker. In between crops, what do you do? Sign on to Universal Credit. Imagine getting the rent on your house paid by UC, then telling them you are going fruit picking? The complexity is a nightmare. British workers want full time work. Simples.

[cbp125]

So,before The Virus,the world economic outlook was shaky to say the least.Now we have a forced global shutdown of the Economy.Governments around the world are borrowing/printing money like there's no tomorrow,and that leads to inflation,and measures to curb rampant inflation generally include raising interest rates.Well,right now there is plenty of room to raise them! Then of course there is the prospect of debt default,and lenders get twitchy,so outfits like the IMF step in and impose austerity budgets.Remember this in Greece?

https://www.bbc.co.uk/news/world-europe-33307263

Of course,all the above leads to unemployment.So,less folks earning money they can spend,less tax revenues,and more claims from an already overburdened welfare system.

Aah well,at least the sun is shining.

But at least they can fly in workers to pick our fruits for harvest, I would have thought there would have been quite a few locals very keen to get out from lockdown and work the fields instead of flying people here to do it. I have not seen any adverts for fruit pickers or farm workers and we live in quite a high farming area. I do wonder if the farmers are mistreating the staff to such a level they prefer not to use locals who would complain. This may be viewed as a political post so I best stop, admin please remove if needed

The trouble with recruiting British agricultural workers is simple: it is seasonal, temporary, you have to live on- site, and you are effectively a migrating worker. In between crops, what do you do? Sign on to Universal Credit. Imagine getting the rent on your house paid by UC, then telling them you are going fruit picking? The complexity is a nightmare. British workers want full time work. Simples.

I agree but it used to be done and it is possible to do it again. There are plenty of gardeners or lawn mowing companies which are seasonal. Also shops recruit for Christmas then dispence with staff. I knew quite a few gardeners working for councils who signed onto job seekers through the winter every year with a rapid reclaim.

The farms could also diversify to offer the staff learning oppertunities or skills during the season. There is a farmer from somerset who offers families free accomodation and food for help harvesting and trains them all in the use of sythes etc.

[jansman]

Forgive me, but you have rather a ‘Thomas Hardy’/ ‘Darling Buds Of May’ view of modern agriculture. Another reason so many of the seasonal workers tend to be Eastern European ( apart from those I mentioned previously), is because they tend to come from agricultural communities. They hit the ground running, they know the job, and they know it is hard graft. Romanians particularly come from what we regard as subsistence farming communities, and they would be the last people to have to be taught how to use a scythe!

Regarding migrant labour: the same question “why do we need to bring in foreign workers?” Could well be asked of the NHS.

[hobo]

Regarding migrant labour: the same question “why do we need to bring in foreign workers?” Could well be asked of the NHS.

THIS

[diamond lil]

The system seems to be so complicated now that it puts people right off even trying anything like this. The minute you even think about it, you find out that your money will end up in a mess, In the past we didn't have all of these benefits and rules. All the mums where I grew up went to the tattie picking, and us kids went on the berry picking. Cash in hand, no housing benefit to mess up. I haven't a clue how they'd sort it out now, but somebody is going to have to try, sometime.

[jansman]

The system seems to be so complicated now that it puts people right off even trying anything like this. The minute you even think about it, you find out that your money will end up in a mess, In the past we didn't have all of these benefits and rules. All the mums where I grew up went to the tattie picking, and us kids went on the berry picking. Cash in hand, no housing benefit to mess up. I haven't a clue how they'd sort it out now, but somebody is going to have to try, sometime.

Precisely!

[omega man]

US oil price plunges below zero for first time in history.
Here:
https://news.sky.com/story/us-oil-price ... y-11976165

OM

[grenfell]

Saw that myself and if i'm honest i still don't really understand how that works , in any logical making the economy work type of way , paying people to take away the oil? Doesn't make an atom of sense. Seems storage is full too and they/we are runnig out of places to put it.

[Arzosah]

Seems storage is full too and they/we are runnig out of places to put it.

That seems to be the key, the story is all over the place this morning.

[cbp125]

It sounds like a price war to me, if they pay people to take USA oil, then the demand for russian or middle east oil drops. Its a dangerous game with a possible real war brewing