| When will Rishi Sunak get pushed out? 09:17 - Jul 9 with 4335 views | Steve_M |
Almost certainly the stand out member of the cabinet over the last few months, happy to explain his policy proposals in terms of nuance and costs when interviewed today.
That sort of competence is clearly too big a threat to Johnson & Cummings. The contrast with the shambolic approach of the Prime Minister and the not as clever as he thinks he is scheming of Cummings is stark. |  |
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| When will Rishi Sunak get pushed out? on 10:15 - Jul 9 with 1462 views | Pinewoodblue |
Worth remembering he is only chancellor because Javid threw his toys out of the pram.
Many a game has been won by a forced substitution. [Post edited 9 Jul 2020 10:18]
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| When will Rishi Sunak get pushed out? on 10:17 - Jul 9 with 1458 views | StokieBlue |
| When will Rishi Sunak get pushed out? on 10:11 - Jul 9 by sparks |
The endorsement of someone who operates as Cummings does ought to be a concern- surely? |
A concern yes but it's not primary evidence on which to evaluate someone.
Your reasoning allows anyone to be tarnished by the endorsement of someone with whom they might not even agree or share views. I think your argument is much more valid if it's the other way round in that if Sunak said he supported Cummings methods and views then that is a legitimate concern.
SB |  |
| Avatar - IC410 - Tadpoles Nebula |
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| When will Rishi Sunak get pushed out? on 10:18 - Jul 9 with 1452 views | sparks |
| When will Rishi Sunak get pushed out? on 10:17 - Jul 9 by StokieBlue |
A concern yes but it's not primary evidence on which to evaluate someone.
Your reasoning allows anyone to be tarnished by the endorsement of someone with whom they might not even agree or share views. I think your argument is much more valid if it's the other way round in that if Sunak said he supported Cummings methods and views then that is a legitimate concern.
SB |
I dont say its primary evidence. But lets not forget that he got the job by being willing to accept imposition of Cummings chosen advisers (against all constitutional convention) when his former boss refused to do so. |  |
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| When will Rishi Sunak get pushed out? on 10:25 - Jul 9 with 1424 views | Herbivore |
| When will Rishi Sunak get pushed out? on 10:15 - Jul 9 by Pinewoodblue |
Worth remembering he is only chancellor because Javid threw his toys out of the pram.
Many a game has been won by a forced substitution. [Post edited 9 Jul 2020 10:18]
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So he's the Richard Naylor of the Tory Party? |  |
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| When will Rishi Sunak get pushed out? on 10:31 - Jul 9 with 1406 views | Darth_Koont |
| When will Rishi Sunak get pushed out? on 10:05 - Jul 9 by gordon |
Sunak obviously has a decent head for figures and is able to communicate well on finance/economics, but I'd be a bit wary of a politician who's only shown competence in one area - tories were generally pleased when Theresa May became PM, and look how that turned out.
I'd add that he also hasn't done an awful lot to suggest he has a good grasp of how as chancellor his decisions could contribute to addressing broader societal challenges.
Having said that, demonstrating a fairly narrow competence in one area puts him streets ahead of the current PM.
Also worth noting that he supported Brexit, which means he can't be that smart. [Post edited 9 Jul 2020 10:10]
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"Also worth noting that he supported Brexit, which means he can't be that smart."
Hmmm. Will be interesting to see him having to own Brexit as Chancellor. |  |
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| When will Rishi Sunak get pushed out? on 10:41 - Jul 9 with 1390 views | GlasgowBlue |
| When will Rishi Sunak get pushed out? on 09:34 - Jul 9 by bluelagos |
The one I think he has messed up on is the VAT reduction. If he thinks that will lead to reduced prices and thus more demand he has more faith in the hospitality sector than I do.
More than a few retailers will simply bank the additional profit and consumers will still pay full whack for a pint/meal/hotel!/coffee in such cases. |
The VAT reduction isn’t designed to lead to reduced prices. It’s to help the restaurant owner who has to pay 20% to HMRC on its takings (except cold take away) but can claim very little back to offset this in the stock they buy.
For example. There is no VAT on a steak purchased by a restaurant but as soon as that Steak is cooked and served the restaurant must charge VAT.
The help for the punter is by way of the 50% discount in August.
So there is help for the business owner by way of reducing their VAT liability and help for the punter with the 50% discount. [Post edited 9 Jul 2020 10:44]
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| When will Rishi Sunak get pushed out? on 10:44 - Jul 9 with 1388 views | Leaky |
| When will Rishi Sunak get pushed out? on 09:34 - Jul 9 by bluelagos |
The one I think he has messed up on is the VAT reduction. If he thinks that will lead to reduced prices and thus more demand he has more faith in the hospitality sector than I do.
More than a few retailers will simply bank the additional profit and consumers will still pay full whack for a pint/meal/hotel!/coffee in such cases. |
I think the fairer way to use reduction in vat would be, for the business to keep half and pass half on to the customer. As obviously businesses observing social distancing are not going to be as profitable, while passing some benefit to the punter |  | | |
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| When will Rishi Sunak get pushed out? on 10:48 - Jul 9 with 1379 views | GlasgowBlue |
| When will Rishi Sunak get pushed out? on 10:44 - Jul 9 by Leaky |
I think the fairer way to use reduction in vat would be, for the business to keep half and pass half on to the customer. As obviously businesses observing social distancing are not going to be as profitable, while passing some benefit to the punter |
completely disagree. Restaurants are one of the few businesses that have to charge VAT but can claim very little back.
Most places have had no income for newly 4 months, when re open will have reduced their capacity considerably to abide by social distancing rules and will come back to a public who may still be hesitant to go to places where people meet. | |
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| When will Rishi Sunak get pushed out? on 11:02 - Jul 9 with 1368 views | LankHenners |
People are reacting to Sunak like how Marcus Evans reacted to Paul Lambert winning the first few games of League 1.
He's pretty much done the minimum of what people wanted/expected and is getting lauded like he's found the cure for coronavirus. I take the point that looking mildly competent in a sea of utter charlatans and assorted idiots sticks out like a sore thumb but I do find the fawning over him a bit weird, especially as people seem to think he single-handedly came up with everything all by himself.
Before he became more widely known I remember him being the guy the Tories would push out to unconvincingly explain some of their decision making. He's sort of a reverse useful idiot for Cummings and Johnson. |  |
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| When will Rishi Sunak get pushed out? on 11:06 - Jul 9 with 1350 views | Leaky |
| When will Rishi Sunak get pushed out? on 10:48 - Jul 9 by GlasgowBlue |
completely disagree. Restaurants are one of the few businesses that have to charge VAT but can claim very little back.
Most places have had no income for newly 4 months, when re open will have reduced their capacity considerably to abide by social distancing rules and will come back to a public who may still be hesitant to go to places where people meet. |
I agree with you to a point. However the reason I suggested passing half of the reduction on to the customer was to encourage people back in to restaurants ect. | | | |
| When will Rishi Sunak get pushed out? on 11:09 - Jul 9 with 1348 views | BlueBadger |
| When will Rishi Sunak get pushed out? on 09:59 - Jul 9 by factual_blue |
He's the one-eyed man in the kingdom of the blind.
Great piece on hancock in The Guardian yesterday, using a Macbeth analogy, saying how hancock is being eaten away from the inside by the rubbish he's forced to spout defending johnson. But, as they also pointed out, at least the end of the daily televised press briefing stop his twice-weekly cringe-making TV appearances. |
Hanock isn't very bright but he's smart enough to realise that he's been set up as the fall guy.
He's paying the price for his 'disloyalty' in the leadership campaign by suggesting that a no-deal Brexit might not be sensible. |  |
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| When will Rishi Sunak get pushed out? on 11:12 - Jul 9 with 1333 views | GlasgowBlue |
| When will Rishi Sunak get pushed out? on 11:06 - Jul 9 by Leaky |
I agree with you to a point. However the reason I suggested passing half of the reduction on to the customer was to encourage people back in to restaurants ect. |
That’s where the 50% August discount comes in. | |
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| When will Rishi Sunak get pushed out? on 11:14 - Jul 9 with 1331 views | Leaky |
| When will Rishi Sunak get pushed out? on 11:12 - Jul 9 by GlasgowBlue |
That’s where the 50% August discount comes in. |
fair point | | | |
| When will Rishi Sunak get pushed out? on 11:25 - Jul 9 with 1320 views | Steve_M |
| When will Rishi Sunak get pushed out? on 11:02 - Jul 9 by LankHenners |
People are reacting to Sunak like how Marcus Evans reacted to Paul Lambert winning the first few games of League 1.
He's pretty much done the minimum of what people wanted/expected and is getting lauded like he's found the cure for coronavirus. I take the point that looking mildly competent in a sea of utter charlatans and assorted idiots sticks out like a sore thumb but I do find the fawning over him a bit weird, especially as people seem to think he single-handedly came up with everything all by himself.
Before he became more widely known I remember him being the guy the Tories would push out to unconvincingly explain some of their decision making. He's sort of a reverse useful idiot for Cummings and Johnson. |
I wouldn't disagree with that; the OP was more a comment on the perceived threat to Johnson than a glowing endorsement of Sunak. | |
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| When will Rishi Sunak get pushed out? on 11:28 - Jul 9 with 1308 views | hampstead_blue |
| When will Rishi Sunak get pushed out? on 09:32 - Jul 9 by WeWereZombies |
It's early days, let's wait and see how he rides out the storm that arises from all this borrowing. |
Jim O'Neill ex-Head of Economics at Goldmans Sachs nailed it.
Treat is like the old War debt and leave it to tick over. Inflation will erode the principle over time and the coupon is pennies. |  |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
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| When will Rishi Sunak get pushed out? on 11:33 - Jul 9 with 1301 views | Darth_Koont |
| When will Rishi Sunak get pushed out? on 11:28 - Jul 9 by hampstead_blue |
Jim O'Neill ex-Head of Economics at Goldmans Sachs nailed it.
Treat is like the old War debt and leave it to tick over. Inflation will erode the principle over time and the coupon is pennies. |
Of course.
But where was that thinking after the financial crisis? And why did we punish the most vulnerable over relative peanuts in comparison? Added to which, Labour's spending plans weren't exactly pie in the sky either, were they?
It seems a strange world when basic state economics can be regularly abused for ideological and party political purposes and people just dumbly nod. | |
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| When will Rishi Sunak get pushed out? on 11:35 - Jul 9 with 1295 views | footers |
| When will Rishi Sunak get pushed out? on 11:33 - Jul 9 by Darth_Koont |
Of course.
But where was that thinking after the financial crisis? And why did we punish the most vulnerable over relative peanuts in comparison? Added to which, Labour's spending plans weren't exactly pie in the sky either, were they?
It seems a strange world when basic state economics can be regularly abused for ideological and party political purposes and people just dumbly nod. |
Yeah, it's an odd one. Back in December, borrowing to invest would have crashed the economy and was just wild communist irresponsibility. But now the shoe's on the other foot, the money machine goes brrr and all this borrowing is totally sensible and nothing to be concerned about.
Funny that. |  |
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| When will Rishi Sunak get pushed out? on 11:48 - Jul 9 with 1283 views | WeWereZombies |
| When will Rishi Sunak get pushed out? on 11:28 - Jul 9 by hampstead_blue |
Jim O'Neill ex-Head of Economics at Goldmans Sachs nailed it.
Treat is like the old War debt and leave it to tick over. Inflation will erode the principle over time and the coupon is pennies. |
That was then and this is now.
It could be that the next pandemic and the effects of climate change will put the United Kingdom into the position that Weimar Germany suffered rather than depression era Britain or America experienced. |  |
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| When will Rishi Sunak get pushed out? on 11:55 - Jul 9 with 1273 views | StokieBlue |
| When will Rishi Sunak get pushed out? on 11:28 - Jul 9 by hampstead_blue |
Jim O'Neill ex-Head of Economics at Goldmans Sachs nailed it.
Treat is like the old War debt and leave it to tick over. Inflation will erode the principle over time and the coupon is pennies. |
There is no guarantee of negative or even low rates forever.
If the debt is issued at 2 or 5 years then that debt either needs to be paid off or rolled at that point. We can't pay it off so it will have to be rolled at whatever the market sees as the risky coupon at that time.
War debt was issued on much longer timescales (50 years) so it's not really comparable in the way you've done it.
SB | |
| Avatar - IC410 - Tadpoles Nebula |
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| When will Rishi Sunak get pushed out? on 11:58 - Jul 9 with 1266 views | LankHenners |
| When will Rishi Sunak get pushed out? on 11:25 - Jul 9 by Steve_M |
I wouldn't disagree with that; the OP was more a comment on the perceived threat to Johnson than a glowing endorsement of Sunak. |
Yes, I was making a general comment about some of the OTT reaction to some pretty basic stuff. | |
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| When will Rishi Sunak get pushed out? on 11:58 - Jul 9 with 1261 views | mrshallisfit |
| When will Rishi Sunak get pushed out? on 09:34 - Jul 9 by sparks |
The ability to know one's subect and speak appropriately ought ot be absolute base level competence for a politician, not something to be lauded! |
Absolutely. But when you are dealing with intellectual pygmies such as Patel Hancock and Jendrick then that's what you get |  | | |
| When will Rishi Sunak get pushed out? on 12:03 - Jul 9 with 1247 views | gordon |
| When will Rishi Sunak get pushed out? on 11:02 - Jul 9 by LankHenners |
People are reacting to Sunak like how Marcus Evans reacted to Paul Lambert winning the first few games of League 1.
He's pretty much done the minimum of what people wanted/expected and is getting lauded like he's found the cure for coronavirus. I take the point that looking mildly competent in a sea of utter charlatans and assorted idiots sticks out like a sore thumb but I do find the fawning over him a bit weird, especially as people seem to think he single-handedly came up with everything all by himself.
Before he became more widely known I remember him being the guy the Tories would push out to unconvincingly explain some of their decision making. He's sort of a reverse useful idiot for Cummings and Johnson. |
The Tories have been pushing a narrative that the economic tools we've used in the UK are 'world leading' & unique etc., when there really isn't much evidence to that effect.
The German and French schemes for example allow employers to choose to part-furlough workers and have them keep working part-time hours, so much more flexible which meant that the cost has been lower and more convenient for businesses & workers. |  | | |
| When will Rishi Sunak get pushed out? on 12:05 - Jul 9 with 1236 views | BlueBadger |
| When will Rishi Sunak get pushed out? on 11:58 - Jul 9 by LankHenners |
Yes, I was making a general comment about some of the OTT reaction to some pretty basic stuff. |
It's a bit like the reception to Lambert when he first came in - a few nice pressers and gestures and he was like the second coming. Never mind that the team were still sleepwalking into relegation.. | |
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| When will Rishi Sunak get pushed out? on 12:12 - Jul 9 with 1218 views | hampstead_blue |
| When will Rishi Sunak get pushed out? on 11:55 - Jul 9 by StokieBlue |
There is no guarantee of negative or even low rates forever.
If the debt is issued at 2 or 5 years then that debt either needs to be paid off or rolled at that point. We can't pay it off so it will have to be rolled at whatever the market sees as the risky coupon at that time.
War debt was issued on much longer timescales (50 years) so it's not really comparable in the way you've done it.
SB |
JO was talking about issuing long dated bonds at current rates.
I realise that the War Loans were open dated and he covered this off in his rationale.
He made his argument on R4 so can't get a link to the detail. A shame as it was a great idea which I've not managed to transpose as well as he made it.
Your post is correct and I totally agree. | |
| Assumption is to make an ass out of you and me.
Those who assume they know you, when they don't are just guessing.
Those who assume and insist they know are daft and in denial.
Those who assume, insist, and deny the truth are plain stupid.
Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
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