enter recession

in mexico book-pilled is still having a whale of a time - here he is reviewing ubik and the midwich cuckoos (and some other book that horsemouth has never heard of), books in english he has managed to source while in mexico (or has been able to bring with him). 

'the OECD predicted that britain would enter recession next year (2023), and said it had the second worst outlook among the G20 nations, just above russia, which is currently the target of all-out financial war.'  

- from the seductions of declinism by william davies, LRB in 2022. 

horsemouth succeeded in reading some of this article (before the paywall came down). he was inspired to read it by a podcast on the LRB.  

broadly the grim catastrophe that is the uk economy post brexit will follow its own particular path. 

right at the end of the podcast (about the 51 minute mark) there is a brief discussion of the pandemic (which appears to have vanished from the historical record - except as an additional burden on the national debt, the kind of burden that can no longer be attempted they say). 

now to horsemouth the pandemic was very instructive. the state stepped up, ordered people about and splashed the cash - demonstrating that the state is capable of acting (contrary to what we have been told that these things are better left to the markets). similarly with the financial crisis of 2008.

what has happened after these events is a retour a normal where it is argued that we couldn't afford to splash the cash and that state debt will have to be paid down. now of course you can either pay down debt or service the debt or refuse to pay it. refusing to pay it is a bit of a high risk strategy (look at what happened to greece for merely suggesting this possibility) but merely servicing it is a perfectly valid strategy even within the regime of capitalism. 

it is just one that neither of the major political parties seems even prepared to offer us. 

as horsemouth has previously argued he is not interested in the culture wars but merely workers' share of GDP. 

there also follows from brexit, pandemic and inflation an attempt to drive down real wages by having lower than inflation wage rises (effectively wage cuts) for the vast majority of the population. in fact only the top 10% have seen their wages rise in real terms (and this is because they get to set them). 

here both major parties are united in agreeing that this is the way it must be. 

horsemouth can't see the point in another lost decade or two or more of austerity but what does he know he's just a pleb. as our panel of two note; 

'it's certainly fatal for the legitimation of capitalism... and in particular it is fatal for the legitimation  of the labour market...'

personally as a result of the pandemic horsemouth is glad to be retiring from the world of work and stepping back into personal life where if they want him to work for less money they can piss off. for the youth he recommends revolt, rebellion and trade union membership (where available).  for himself he recommends thriftiness and hobbies.