| Truss U turn imminent apparently 12:54 - Oct 13 with 3879 views | nrb1985 |
Gilts and Sterling rallying strongly
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| Truss U turn imminent apparently on 15:25 - Oct 13 with 1268 views | HARRY10 |
| Truss U turn imminent apparently on 15:22 - Oct 13 by nrb1985 |
Looking at the US inflation print today, that will be pouring petrol on an already raging fire.
The very last thing the economy needs now is to be boosted. |
eh ?
that makes no sense | | | |
| Truss U turn imminent apparently on 15:32 - Oct 13 with 1241 views | nrb1985 |
| Truss U turn imminent apparently on 15:25 - Oct 13 by HARRY10 |
eh ?
that makes no sense |
The Fed are now going to hike even more aggressively because inflation has yet again come in much hotter than expected. Likely now they will do consecutive 75bp hikes.
That means that either:
a) A stronger dollar and more imported inflation.
or
b) the BoE has to hike more to hike more aggressively to keep up with the USD but potentially causes severe disruption in the housing market.
A is the far more likely outcome, thus, having Mad Liz "going for growth" at a time when we are likely to have persistently higher inflation for likely longer than we thought, is suicidal. [Post edited 13 Oct 2022 15:33]
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| Truss U turn imminent apparently on 15:39 - Oct 13 with 1208 views | ArnoldMoorhen |
| Truss U turn imminent apparently on 15:00 - Oct 13 by bluelagos |
Kin hell.
Pop out for 2 hours and the govt is now rumoured to be u-turning on it's tax policies, the city has priced in those rumours and Trussenomics are thus consigned to the bin where they belong.
So the question is surely now does Truss dump her discredited Chancellor or do they try and pretend it was "just a matter of timing" or "poor communication" and maintain that the policies were right and remain the ambition? |
Truss ditch Kwarteng?
Do you remember that Spreadsheet doc that did the rounds a while back, alleged to be the list of naughty boys and girls that the Tory Whips kept, peppered with phrases like "Handsy at parties"?
Give it another read... | | | |
| Truss U turn imminent apparently on 15:58 - Oct 13 with 1169 views | HARRY10 |
| Truss U turn imminent apparently on 15:32 - Oct 13 by nrb1985 |
The Fed are now going to hike even more aggressively because inflation has yet again come in much hotter than expected. Likely now they will do consecutive 75bp hikes.
That means that either:
a) A stronger dollar and more imported inflation.
or
b) the BoE has to hike more to hike more aggressively to keep up with the USD but potentially causes severe disruption in the housing market.
A is the far more likely outcome, thus, having Mad Liz "going for growth" at a time when we are likely to have persistently higher inflation for likely longer than we thought, is suicidal. [Post edited 13 Oct 2022 15:33]
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err, yes
But that was not the point, if only that the mini budget was about not doing something (raising corporation tax) in this instance
It was showing that cutting corporation tax appears to have no correlation with growth - were it that simple then I have no doubt that every country would have long done it long ago
Cynics might suggest that what might help is to not burden business with huge new red tape, costs and regulation - which as been put onto business since the UK became a 'third country' - as it now is with it's biggest trading group, the EU
There is also the no small thought that having a country where business is contributing to a healthy and well trained workforce and a properly funded infrastructure is more likely to encourage businesses to flourish (see Scandinavian countries) | | | |
| Truss U turn imminent apparently on 16:05 - Oct 13 with 1158 views | bluelagos |
| Truss U turn imminent apparently on 15:39 - Oct 13 by ArnoldMoorhen |
Truss ditch Kwarteng?
Do you remember that Spreadsheet doc that did the rounds a while back, alleged to be the list of naughty boys and girls that the Tory Whips kept, peppered with phrases like "Handsy at parties"?
Give it another read... |
Yep, Rudd and Truss were his mentions - quite the player is Kwasi.
Politics is a dirty pastime - and given the choice of sacrificing Kwasi or losing her role...
We'll see. Never boring is it. |  |
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| Truss U turn imminent apparently on 16:09 - Oct 13 with 1140 views | nrb1985 |
| Truss U turn imminent apparently on 15:58 - Oct 13 by HARRY10 |
err, yes
But that was not the point, if only that the mini budget was about not doing something (raising corporation tax) in this instance
It was showing that cutting corporation tax appears to have no correlation with growth - were it that simple then I have no doubt that every country would have long done it long ago
Cynics might suggest that what might help is to not burden business with huge new red tape, costs and regulation - which as been put onto business since the UK became a 'third country' - as it now is with it's biggest trading group, the EU
There is also the no small thought that having a country where business is contributing to a healthy and well trained workforce and a properly funded infrastructure is more likely to encourage businesses to flourish (see Scandinavian countries) |
Ah yes sorry, well either way I think any form of tax cuts currently will be interpreted by the markets as simulative regardless of historical success or otherwise.
And yes totally agree re the red tape post Brexit. Albeit, Patrick Minford said that Brexit would dramatically cut red tape and bureaucracy for businesses and he's never wrong... | | | |
| Truss U turn imminent apparently on 16:20 - Oct 13 with 1100 views | XYZ |
| Truss U turn imminent apparently on 16:05 - Oct 13 by bluelagos |
Yep, Rudd and Truss were his mentions - quite the player is Kwasi.
Politics is a dirty pastime - and given the choice of sacrificing Kwasi or losing her role...
We'll see. Never boring is it. |
Then Johnson put "Pincher by name ..." in charge of that spreadsheet ... | | | |
| Truss U turn imminent apparently on 16:21 - Oct 13 with 1100 views | HARRY10 |
| Truss U turn imminent apparently on 16:09 - Oct 13 by nrb1985 |
Ah yes sorry, well either way I think any form of tax cuts currently will be interpreted by the markets as simulative regardless of historical success or otherwise.
And yes totally agree re the red tape post Brexit. Albeit, Patrick Minford said that Brexit would dramatically cut red tape and bureaucracy for businesses and he's never wrong... |
" interpreted by the markets as simulative regardless of historical success or otherwise."
Historical evidence is what usually guides the market. The markets were not spooked by any supposed stimulus or growth, irrespective of the two brexiteers claim, but that the cost of those cuts would need to be funded by higher borrowing....................and thus the effect that would have on bonds
Much as someone taking on a massive car loan when they are already struggling to pay the mortgage. Claims that the new car will be more cost effective, don't sit well when any fuel cost saved is dwarfed by the repayments
Rather like re-mortgaging your house when you cannot meet the existing repayments | | | |
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| Truss U turn imminent apparently on 16:28 - Oct 13 with 1069 views | DanTheMan |
| Truss U turn imminent apparently on 15:39 - Oct 13 by ArnoldMoorhen |
Truss ditch Kwarteng?
Do you remember that Spreadsheet doc that did the rounds a while back, alleged to be the list of naughty boys and girls that the Tory Whips kept, peppered with phrases like "Handsy at parties"?
Give it another read... |
I remember being very skeptical about that when it first came around but quite a few of the things on it have since come out as true.
Maybe not everything on there is but certainly seems somewhat genuine. |  |
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| Truss U turn imminent apparently on 16:30 - Oct 13 with 1065 views | nrb1985 |
| Truss U turn imminent apparently on 16:21 - Oct 13 by HARRY10 |
" interpreted by the markets as simulative regardless of historical success or otherwise."
Historical evidence is what usually guides the market. The markets were not spooked by any supposed stimulus or growth, irrespective of the two brexiteers claim, but that the cost of those cuts would need to be funded by higher borrowing....................and thus the effect that would have on bonds
Much as someone taking on a massive car loan when they are already struggling to pay the mortgage. Claims that the new car will be more cost effective, don't sit well when any fuel cost saved is dwarfed by the repayments
Rather like re-mortgaging your house when you cannot meet the existing repayments |
Two sides of the same coin.
The unfunded borrowing is one side, the other side is that it is highly irregular/almost unheard of for a developed market country to have fiscal and monetary policy going in totally opposite directions - especially at a time the rest of the developed word is trying to tighten monetary policy to cool inflation. | | | |
| Truss U turn imminent apparently on 16:32 - Oct 13 with 1056 views | Oldsmoker |
The markets would do cartwheels if UK PLC announced it was rejoining the customs union.
The EU would welcome such a move as the problems with Northern Ireland vanish in one stroke and the start of a growing economy is suddenly possible.
The Tories - especially the right-wing nutters currently in charge - can't do this because Brexit or something.
Some donor needs to bung the Lib Dems about £50m as they're the only party calling for rejoining the customs union.
That would buck Labour up and they might start calling for the same.
Rejoining the Customs Union seems a no brainer to me as it just solves so many problems but brains seem to be in short supply in the HoC - on both sides Tory & Labour. |  |
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| Truss U turn imminent apparently on 16:33 - Oct 13 with 1056 views | itfcjoe |
| Truss U turn imminent apparently on 16:28 - Oct 13 by DanTheMan |
I remember being very skeptical about that when it first came around but quite a few of the things on it have since come out as true.
Maybe not everything on there is but certainly seems somewhat genuine. |
Guess not a co-incidence that no-one has heard or seen Frank Mancois since there was talk of a Tory MP in their 50s being charged |  |
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| Truss U turn imminent apparently on 16:38 - Oct 13 with 1038 views | bluelagos |
| Truss U turn imminent apparently on 16:33 - Oct 13 by itfcjoe |
Guess not a co-incidence that no-one has heard or seen Frank Mancois since there was talk of a Tory MP in their 50s being charged |
Charged?
Rumours that Francois was investigated but pretty sure he wasn't charged.
Second guy, currently away from Westminster, has been named by at least one journo as Rossindale. Again, not charged as far as I know.
Edit: Alex Tiffin is the journo. His twitter has the various links/stories. [Post edited 13 Oct 2022 16:43]
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| Truss U turn imminent apparently on 16:38 - Oct 13 with 1036 views | Oldsmoker |
| Truss U turn imminent apparently on 16:33 - Oct 13 by itfcjoe |
Guess not a co-incidence that no-one has heard or seen Frank Mancois since there was talk of a Tory MP in their 50s being charged |
The man who suffers with every day being a bad hair day. | |
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| Truss U turn imminent apparently on 16:50 - Oct 13 with 1007 views | HARRY10 |
| Truss U turn imminent apparently on 16:32 - Oct 13 by Oldsmoker |
The markets would do cartwheels if UK PLC announced it was rejoining the customs union.
The EU would welcome such a move as the problems with Northern Ireland vanish in one stroke and the start of a growing economy is suddenly possible.
The Tories - especially the right-wing nutters currently in charge - can't do this because Brexit or something.
Some donor needs to bung the Lib Dems about £50m as they're the only party calling for rejoining the customs union.
That would buck Labour up and they might start calling for the same.
Rejoining the Customs Union seems a no brainer to me as it just solves so many problems but brains seem to be in short supply in the HoC - on both sides Tory & Labour. |
It is already happening. And will continue, rather than some huge announcement.
The main idea of brexit was for the UK to free itself of regulation, not chase naughty foreigners out of the country (that was merely guff to over excite the thickos). The problem is that the brexiters thought EU workers could return under some tap switching on approach. And despite attempts to hand out ever more work permits.... they ain't a comin'
The guff about 'controlling our borders' has long since fallen by the wayside. as seen by the UK still not checking imports. That the government has made little start on building the necessary infrastructure should tell you all you need to know.
And I expect that only when Labour get elected will they show their true colours
So its a case of slowly slowly, catchee monkey | | | |
| Truss U turn imminent apparently on 17:17 - Oct 13 with 983 views | Oldsmoker |
| Truss U turn imminent apparently on 16:50 - Oct 13 by HARRY10 |
It is already happening. And will continue, rather than some huge announcement.
The main idea of brexit was for the UK to free itself of regulation, not chase naughty foreigners out of the country (that was merely guff to over excite the thickos). The problem is that the brexiters thought EU workers could return under some tap switching on approach. And despite attempts to hand out ever more work permits.... they ain't a comin'
The guff about 'controlling our borders' has long since fallen by the wayside. as seen by the UK still not checking imports. That the government has made little start on building the necessary infrastructure should tell you all you need to know.
And I expect that only when Labour get elected will they show their true colours
So its a case of slowly slowly, catchee monkey |
To all Brexiteers.
You tell all EU citizens to get out of the country.
You make it really difficult for the ones who want to stay.
You take ages to decide what their status will be and how they can apply to stay.
You leak stories to the Press that scare and alarm them.
...and you're surprised they don't want to come here and work?????
Go figure. | |
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| Truss U turn imminent apparently on 17:42 - Oct 13 with 962 views | GlasgowBlue |
| Truss U turn imminent apparently on 13:57 - Oct 13 by StokieBlue |
But what happens then GB?
Not sure the country is going to stomach another Tory PM voted for by a small membership.
The membership have been shown to have absolutely no judgement and no understanding of the effect of policies.
SB |
As previously discussed, they don't have to go until 2024. However, my gut feeling is that if Sunak has some sort of coronation in order to settle the markets he should pledge to Starmer that he would go to the country within a year.
Six weeks of electioneering would just about finish the UK economy off and Starmer is smart enough to understand this.
Let's get rid of this sh1t show, consolidate the economy and then go t the country a year earlier than they have to. |  |
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| Truss U turn imminent apparently on 18:05 - Oct 13 with 905 views | XYZ |
| Truss U turn imminent apparently on 17:42 - Oct 13 by GlasgowBlue |
As previously discussed, they don't have to go until 2024. However, my gut feeling is that if Sunak has some sort of coronation in order to settle the markets he should pledge to Starmer that he would go to the country within a year.
Six weeks of electioneering would just about finish the UK economy off and Starmer is smart enough to understand this.
Let's get rid of this sh1t show, consolidate the economy and then go t the country a year earlier than they have to. |
The prospect of a Labour government would settle the markets completely. | | | |
| Truss U turn imminent apparently on 18:24 - Oct 13 with 871 views | HARRY10 |
| Truss U turn imminent apparently on 17:17 - Oct 13 by Oldsmoker |
To all Brexiteers.
You tell all EU citizens to get out of the country.
You make it really difficult for the ones who want to stay.
You take ages to decide what their status will be and how they can apply to stay.
You leak stories to the Press that scare and alarm them.
...and you're surprised they don't want to come here and work?????
Go figure. |
As we have seen with Kharzi farteng's brexit stuff those brexit zealots fall into rwo categorys, the thick and the ignorant. the latter are those who told the former that visas could be issued and foreign johnies would happily be at the beck and call pof the UK.. The thick believed them.
WQhereas the reality is that there is too much red taoe and cost to warrant takinga shorterm seasonal job.. The ebenfits of before was that business could easily tap into a flexible labour faorce.. often EU workers cam worked for afew months and then left, to be replaced by others.
that is not now the case. And as UK companies relocate to the EU so those workers go there instead. Attempts by the DWP to trawl through the sick, the disabled and the mentally unsuitable are doing nothing but causing distress to those who we are led to believe are living the highlife on £77 a week.
ll this was pointed out way before the referendim, to be met with a chorus of bleats from the thick "project fear... baa baa"
Again, as with Covid the true effects of brexit will be masked. The huge rise in energy will be blamed, whereas in many cases it is that businesses cannot find the staff. However, you only need to look up the words of the brexit guru, Patrick Minford
[i/]"This is a pro skilled workers immigration system that will get us the skills we need from around the world and stop the inflow of unskilled workers who have cost us a lot of money, because they claim benefits here from the taxpayers and pay very little taxes." 2020
To say thus has aged badly is a massive understatement. But then he is no stranger to economic bollox, as
"He believes that Brexit could increase GDP by 6.8%,[24][25] and could reduce prices for British consumers" and it will come as no surprise that he strongly supported the poll tax.
The problem or danger with these cranks is they see the rest of us a mere units of production, and so cannot understand why EU workers will not simply do as they are told - return to the UK when instructed.
I can understand why lunatic zealots such as Truss, ever ambitious to climb the greasy poll, will ignore reasoned thought. But for the life of me I cannot grasp the thinking behind the thickos voting against their interests ie for brexit.
Maybe they really are that thick | | | |
| Truss U turn imminent apparently on 19:44 - Oct 13 with 836 views | GlasgowBlue |
| Truss U turn imminent apparently on 18:24 - Oct 13 by HARRY10 |
As we have seen with Kharzi farteng's brexit stuff those brexit zealots fall into rwo categorys, the thick and the ignorant. the latter are those who told the former that visas could be issued and foreign johnies would happily be at the beck and call pof the UK.. The thick believed them.
WQhereas the reality is that there is too much red taoe and cost to warrant takinga shorterm seasonal job.. The ebenfits of before was that business could easily tap into a flexible labour faorce.. often EU workers cam worked for afew months and then left, to be replaced by others.
that is not now the case. And as UK companies relocate to the EU so those workers go there instead. Attempts by the DWP to trawl through the sick, the disabled and the mentally unsuitable are doing nothing but causing distress to those who we are led to believe are living the highlife on £77 a week.
ll this was pointed out way before the referendim, to be met with a chorus of bleats from the thick "project fear... baa baa"
Again, as with Covid the true effects of brexit will be masked. The huge rise in energy will be blamed, whereas in many cases it is that businesses cannot find the staff. However, you only need to look up the words of the brexit guru, Patrick Minford
[i/]"This is a pro skilled workers immigration system that will get us the skills we need from around the world and stop the inflow of unskilled workers who have cost us a lot of money, because they claim benefits here from the taxpayers and pay very little taxes." 2020
To say thus has aged badly is a massive understatement. But then he is no stranger to economic bollox, as
"He believes that Brexit could increase GDP by 6.8%,[24][25] and could reduce prices for British consumers" and it will come as no surprise that he strongly supported the poll tax.
The problem or danger with these cranks is they see the rest of us a mere units of production, and so cannot understand why EU workers will not simply do as they are told - return to the UK when instructed.
I can understand why lunatic zealots such as Truss, ever ambitious to climb the greasy poll, will ignore reasoned thought. But for the life of me I cannot grasp the thinking behind the thickos voting against their interests ie for brexit.
Maybe they really are that thick |
We are in complete agreement that Kwasi Kwarteng is an absolutely incompetent Chancellor of the Exchequer. However, I'm not particularly comfortable about you constantly making derogatory comments based on his name which obviously originated from Ghana.
Attack him for his policies that are crashing the economy.
Are we really at the stage where we mock the children of immigrants because of their "funny sounding foreign names"?
You're really getting a rep on here for this sort of thing Harold. [Post edited 13 Oct 2022 20:03]
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| Truss U turn imminent apparently on 19:57 - Oct 13 with 795 views | bungaytractor |
| Truss U turn imminent apparently on 19:44 - Oct 13 by GlasgowBlue |
We are in complete agreement that Kwasi Kwarteng is an absolutely incompetent Chancellor of the Exchequer. However, I'm not particularly comfortable about you constantly making derogatory comments based on his name which obviously originated from Ghana.
Attack him for his policies that are crashing the economy.
Are we really at the stage where we mock the children of immigrants because of their "funny sounding foreign names"?
You're really getting a rep on here for this sort of thing Harold. [Post edited 13 Oct 2022 20:03]
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To right make shouldnt take the mick out of anyones name really its not on even if there not foreign | | | |
| Truss U turn imminent apparently on 21:25 - Oct 13 with 723 views | ArnoldMoorhen |
| Truss U turn imminent apparently on 16:28 - Oct 13 by DanTheMan |
I remember being very skeptical about that when it first came around but quite a few of the things on it have since come out as true.
Maybe not everything on there is but certainly seems somewhat genuine. |
Obviously it is scurrilous, unfounded hearsay, of dubious provenance, and should be beneath any of us to give it a second thought.
But, I dunno, something about our powerlessness in the current situation makes me want to reach for any stick to beat them with!
I should be better than that, though, so here's the list of Tory MPs, peers and other senior party members who have had a demonstrable, openly reported allegation of impropriety or misconduct made against them in recent years.
How many do you reckon? 20? 30? 40?
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| Truss U turn imminent apparently on 22:40 - Oct 13 with 648 views | jeera |
| Truss U turn imminent apparently on 13:34 - Oct 13 by giant_stow |
There's no justice in them just picking another leader - I know they technically can, but this is bullsh1t. If they had any decency at all, they'd call a GE.
Edit: just came across this:
[Post edited 13 Oct 2022 13:51]
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"A tragedy for those of us who care passionately about our country."
Quite.
As many have tried to say so many times. |  |
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| Truss U turn imminent apparently on 22:55 - Oct 13 with 593 views | HARRY10 |
| Truss U turn imminent apparently on 19:44 - Oct 13 by GlasgowBlue |
We are in complete agreement that Kwasi Kwarteng is an absolutely incompetent Chancellor of the Exchequer. However, I'm not particularly comfortable about you constantly making derogatory comments based on his name which obviously originated from Ghana.
Attack him for his policies that are crashing the economy.
Are we really at the stage where we mock the children of immigrants because of their "funny sounding foreign names"?
You're really getting a rep on here for this sort of thing Harold. [Post edited 13 Oct 2022 20:03]
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Perhaps I should be cancelled
Or maybe those who are not like us whiteys have to be protected. Not sure whether that is some form of racism, as you lot do seem to be doing endless handstands over what is 'woke' and what is not.
I cannot remember either any whining by you about me referring to Trussty the Clown or variations on Rees-Mogg.
Still, it does provide a welcome distraction from your lot making a huge mess of the economy, causing distress to millions and thinking that it is OK to pay even more in bankers bonuses, than it is to feed children of the poorest of society.
And just to please you I have written to every newspaper. magazine etc who have referred to the gentleman in question as Kamikwasi (well actually not as I only started that task about 2 hours to go and there is still a long way to go) | | | |
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