Heating Your Greenhouse in Europe This Winter

[Bern]

This week the biennial spectacle of the US congressional elections will occur on Tuesday.  Will the Outs become the Ins?  Will the Ins become the Outs?  Most importantly.......  Will it matter?  There is some serious inflation going on here and the powers that be are way behind in getting it under control IMO.

[David Pilling]

Bern - the world is watching... Coming soon the realisation that central banks cannot and will not take strong enough action to restrain inflation. Some people benefit from inflation - it is often a transfer of wealth from old to young. An era of financial repression beckons.

The funny thing is how the central bankers don't admit to what they're doing.

[CG100]

Although a very few pundits have realised and spoken already, maybe politicians and people in general will actually engage brain and realise that the current round of world-wide infaltion is unique - driven by Russia/Ukraine, which has driven energy (and carbohydrate) prices high on the world market, and thereby driven prices skyward on virtually everything.

Add that to the total chaos already pre-existing caused by C19.................

The total numpties can faff as much as they like with interest rates...................... it alone will not bring energy (or carbohydrate) prices down, if at all.

[Bern]

A neighbor of mine down the street who rented an apartment just had to move because the landlord raised the rent too high for her. She had been an ideal tenant and had been there for years. The landlord had done nothing to improve the property so there was no "cost push" inflation on that end. The vaunted customer loyalty was completely AWOL.  It was a simple case of greed IMO.  She had to move about 50 miles away to find a more reasonable price. Prior to her move, she downsized her automobile to have a lower monthly payment and better gas mileage. She told me that one of her neighbors had to move for same reason.

Another neighbor of mine owns a classic Toyota Land Cruiser with a diesel engine.  Oops!  Diesel here is now $5.28 a gallon.  So, he's now driving his wife's Hyundai most of the time and has idled his Land Cruiser. 

The price of prepackaged salad greens is up 30% at the grocery store in the last few weeks.  Really? 

Meanwhile, tomorrow's Powerball Jackpot Lottery is estimated at $1.9 Billion!  You can't make this stuff up.  And yes, I have a ticket.

[David Pilling]

Meanwhile, tomorrow's Powerball Jackpot Lottery is estimated at $1.9 Billion!  You can't make this stuff up.  And yes, I have a ticket.

Good luck...

EU/UK inflation is higher than the USA, depends if you believe the official figures and which figure is used.

[Martin Bohnet]

oh, you know what they say: "Lottery is the penalty tax for a lack of mathematical understanding"

Another fun fact: Had transportation been taxed properly to compensate damage done by the emissions before, we had no price shock right now, and had likely consumed far less fossile fuels anyway. Cheap energy is the mother of wrong incentives.

[David Pilling]

Yeah but, there is the argument that whilst on average you will lose money playing the lottery the consequences of winning a great deal of money mean it is worth a punt.

A bit like home insurance in reverse.

On average your house will not burn down.

[CG100]

................on average you will lose money playing the lottery................

I am unsure/unconvinced that the word "average" has any logical/valid meaning in this context.

The odds will obviously vary, but I do not think "average" represents a reasonable approximation of >>>>>99% chance of loosing.  :-)

[David Pilling]

Carl, for the UK National Lottery, year ending March 2022

"From total ticket sales of £8,090.7 million in the year ending 31 March 2022:
£4,612.3 million was paid to players in prizes"


An average return of 50%.

It may be an Abba lottery "the winner takes it all", or as with the UK, there are lesser prizes and the chances of you making the average return are high.

[David Pilling]

energy (and carbohydrate) prices high on the world market

We have had our chips.

 

[CG100]

An average return of 50%.

The average return rate is not linked to average loss rate. If there is an average loss rate it would always be very near to the stake.

[Bern]

Yeah but, there is the argument that whilst on average you will lose money playing the lottery the consequences of winning a great deal of money mean it is worth a punt.

The odds are definitely against you in these lottery games. But, someone always wins them. And when they get huge like this one, it's worth spending a few dollars on a ticket or two just to have your hand in the game.  Again, somebody always wins.  The key is moderation and having realistic expectations.  To pass up a chance to win a great deal of money for a few bucks is inhuman.  Even Spock would play for a crack at $1.9 billion.  But he probably wouldn't tell anyone - and he's only half human.

[janemcgary]

Around here, the lottery is known as "the stupidity tax."

[Bern]

Around here, the lottery is known as "the stupidity tax."

It was announced today that a person in California who paid the stupidity tax has won the Powerball Lottery jackpot.  If he or she chooses a lump sum payout, it will be approximately $997.6 million.  The odds of winning are 1 in 292.2 million. 

Many of the adults in the USA, most of whom pay taxes, will elect a new Congress today.  Might I be so bold as to ask, facetiously of course, are the odds better better playing the Powerball lottery? 

[David Pilling]

It was announced today that a person in California who paid the stupidity tax has won the Powerball Lottery jackpot.  If he or she chooses a lump sum payout, it will be approximately $997.6 million.  The odds of winning are 1 in 292.2 million. 

I read the ticket price was $2 - so your return per 1$ stake would be 997/(2*292)=$1.7

Any return over $1 is OK with me.

You'd think Elon Musk would have bought all the tickets.