| As the pound crashes, inflation soars, and investors run for the hills... 21:42 - Sep 23 with 4874 views | NthQldITFC |
...who exactly is supporting these cretins, for how much longer, and what sort of action will be required to get them composted before they do any more damage to everyone in this country? |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 11:15 - Sep 24 with 1377 views | lowhouseblue |
| As the pound crashes, inflation soars, and investors run for the hills... on 11:02 - Sep 24 by BanksterDebtSlave |
Surely it depends where the splurge is targeted.
Was Corbyn planning on cutting taxes? |
well a massive increase in expenditure has the same effect. but it depends on whether it's sustainable. that's partly whether current spending can be controlled and it's partly whether investment in growth will pay off. clearly the markets don't believe that the promised tory growth will be real - they would have reached same conclusion about fiscal sustainability under corbyn.
but this is rather diverting the thread which is meant to be about the tories so I'll leave it there. |  |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| As the pound crashes, inflation soars, and investors run for the hills... on 11:58 - Sep 24 with 1305 views | StokieBlue |
| As the pound crashes, inflation soars, and investors run for the hills... on 10:06 - Sep 24 by Leaky |
Isn't it the same as Blair & Brown. |
No because Brown didn't rip up the entire manifesto and implement policies that hadn't been discussed at all and that hadn't been independently analysed.
SB |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 12:23 - Sep 24 with 1261 views | Zapers |
| As the pound crashes, inflation soars, and investors run for the hills... on 22:10 - Sep 23 by StokieBlue |
That's technically true but I think the opening post was clearly framed in a way to ask who in the public was supporting these cretins. The supporters you have highlighted are amongst the cretins thus wouldn't be able to be cited as supporters.
My point is more that it's outrageous that they can implement these policies without any kind of mandate from the public.
SB [Post edited 23 Sep 2022 22:12]
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And what exactly do the public know? You do realise we are living through very different times to what we faced when your government were elected. Of course policies change, we are facing one of the biggest crisis of modern times.
As far as the OP is concerned, the inference is that this issue with the pound, inflation and investments is all down to government policy. The USD ALWAYS strengthens in times of crisis. Idiot Putin threatening nuclear weapons doesn’t actually help, on top of that have you checked US markets? |  | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 12:32 - Sep 24 with 1246 views | NthQldITFC |
| As the pound crashes, inflation soars, and investors run for the hills... on 12:23 - Sep 24 by Zapers |
And what exactly do the public know? You do realise we are living through very different times to what we faced when your government were elected. Of course policies change, we are facing one of the biggest crisis of modern times.
As far as the OP is concerned, the inference is that this issue with the pound, inflation and investments is all down to government policy. The USD ALWAYS strengthens in times of crisis. Idiot Putin threatening nuclear weapons doesn’t actually help, on top of that have you checked US markets? |
'As far as the OP is concerned, the inference is that this issue with the pound, inflation and investments is all down to government policy.'
No. More about the actions they are taking right now to (a.) responsibly support the public they are supposed to serve or (b.) line the pockets of the rich at the expense of the poor, the future, and the environment..
Clue: It's not (a.) | |
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| As the pound crashes, inflation soars, and investors run for the hills... on 13:02 - Sep 24 with 1210 views | SuperKieranMcKenna |
| As the pound crashes, inflation soars, and investors run for the hills... on 12:23 - Sep 24 by Zapers |
And what exactly do the public know? You do realise we are living through very different times to what we faced when your government were elected. Of course policies change, we are facing one of the biggest crisis of modern times.
As far as the OP is concerned, the inference is that this issue with the pound, inflation and investments is all down to government policy. The USD ALWAYS strengthens in times of crisis. Idiot Putin threatening nuclear weapons doesn’t actually help, on top of that have you checked US markets? |
All the major indexes have been a massacre, of my investments the NASDAQ and DAX have been the worst hit this year.
However the point is Truss and her cronies could have taken actions which were seen to be positive by the markets. Instead of shoring up the national finances she’s enacted tax cuts to benefit a small proportion of the population, and will increase national debt in the process. The markets know this and reacted accordingly as it will put pressure on our ability to pay back debt, and negligible impact on boosting the economy.
If we are going to further increase debt it would have been more positive to enact some infrastructure spending so at least you are adding assets to the balance sheet rather than just giving money away to some already wealthy people. It would also create jobs, add money to the economy and of course raise taxes and income for the treasury. | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:20 - Sep 24 with 1185 views | Zapers |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:02 - Sep 24 by SuperKieranMcKenna |
All the major indexes have been a massacre, of my investments the NASDAQ and DAX have been the worst hit this year.
However the point is Truss and her cronies could have taken actions which were seen to be positive by the markets. Instead of shoring up the national finances she’s enacted tax cuts to benefit a small proportion of the population, and will increase national debt in the process. The markets know this and reacted accordingly as it will put pressure on our ability to pay back debt, and negligible impact on boosting the economy.
If we are going to further increase debt it would have been more positive to enact some infrastructure spending so at least you are adding assets to the balance sheet rather than just giving money away to some already wealthy people. It would also create jobs, add money to the economy and of course raise taxes and income for the treasury. |
I’m not an economist so I can’t be sure what government policy will achieve. However there are many economists who support her policies, and there are those that don’t. I guess only time will tell whether government have got it right and it will help kickstart the economy.
US markets, as you correctly say, are badly affected. Clearly this has nothing to do with UK policy.No one really know what spooked all markets in the last few days. The way the US has fallen suggests that it’s something more sinister. | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:33 - Sep 24 with 1165 views | XYZ |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:20 - Sep 24 by Zapers |
I’m not an economist so I can’t be sure what government policy will achieve. However there are many economists who support her policies, and there are those that don’t. I guess only time will tell whether government have got it right and it will help kickstart the economy.
US markets, as you correctly say, are badly affected. Clearly this has nothing to do with UK policy.No one really know what spooked all markets in the last few days. The way the US has fallen suggests that it’s something more sinister. |
Pure coincidence that the £ fell over 3% against the $ on the day the chancellor handed the rich a 5% tax cut?
Name one economist that supports her policies that isn't Patrick Minford. Shouldn't be difficult for you if there are "many". | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:45 - Sep 24 with 1142 views | BlueandTruesince82 |
Liz seems to ba going down the this plan is so crazy it might just work route.
She needs to do something, to carry on down the path they were on would result in certain defeat at the next election. Tories have been in power long enough that people will probably vote for change for changes sake.
She can't move away from the right, that's would be against everything she said in her leadership bid so her only option is an attempt to stimulate growth. She has 2 years for it do something.
I don't really see it but some things could break her way, if the Ukraine conflict comes to an end for example that might drive down fuel prices, food prices and she can take the credit and point to her 'radical' plan as the cause and really that's what she is banking on |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 13:46 - Sep 24 with 1139 views | BloomBlue |
| As the pound crashes, inflation soars, and investors run for the hills... on 11:58 - Sep 24 by StokieBlue |
No because Brown didn't rip up the entire manifesto and implement policies that hadn't been discussed at all and that hadn't been independently analysed.
SB |
Brown bailed out the banks by around £130billion and also presided over the BoE giving £375bn of cheap credit to the banks through quantitative easing - none of that was in their manifesto. Which given the cost was ripping up the manifesto and did implement policies quickly that weren't discussed.
That's the thing with being a government issues change which you cannot foresee in the future, financial crash, pandemics, wars and that will result in a change of approach sometimes from their original manifesto.
All I want from a government is a government who can react.
I'm not convinced Truss's approach will work but the current cost of living problem is global caused by the pandemic and then Russia starting a war and using energy as a weapon. |  | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:56 - Sep 24 with 1099 views | bournemouthblue |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:46 - Sep 24 by BloomBlue |
Brown bailed out the banks by around £130billion and also presided over the BoE giving £375bn of cheap credit to the banks through quantitative easing - none of that was in their manifesto. Which given the cost was ripping up the manifesto and did implement policies quickly that weren't discussed.
That's the thing with being a government issues change which you cannot foresee in the future, financial crash, pandemics, wars and that will result in a change of approach sometimes from their original manifesto.
All I want from a government is a government who can react.
I'm not convinced Truss's approach will work but the current cost of living problem is global caused by the pandemic and then Russia starting a war and using energy as a weapon. |
Which quietly masks the effects of Brexit too
There's no question the UK it's energy mix in a mess, that isn't helping, Brexit is a part of that too with the way we purchase gas, I believe the government had cut our storage reserves in recent years as well? |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 14:28 - Sep 24 with 1048 views | StokieBlue |
| As the pound crashes, inflation soars, and investors run for the hills... on 12:23 - Sep 24 by Zapers |
And what exactly do the public know? You do realise we are living through very different times to what we faced when your government were elected. Of course policies change, we are facing one of the biggest crisis of modern times.
As far as the OP is concerned, the inference is that this issue with the pound, inflation and investments is all down to government policy. The USD ALWAYS strengthens in times of crisis. Idiot Putin threatening nuclear weapons doesn’t actually help, on top of that have you checked US markets? |
How are pickle prices doing?
SB | |
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| As the pound crashes, inflation soars, and investors run for the hills... on 14:47 - Sep 24 with 1035 views | Zapers |
| As the pound crashes, inflation soars, and investors run for the hills... on 14:28 - Sep 24 by StokieBlue |
How are pickle prices doing?
SB |
Care to explain your obsession with pickles? | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 15:54 - Sep 24 with 979 views | Joey_Joe_Joe_Junior |
| As the pound crashes, inflation soars, and investors run for the hills... on 09:34 - Sep 24 by XYZ |
Indeed. You'd have thought a poster directing people to Google something would have taken the trouble to do so themselves.
Kwasi Kerching was the toast in city bars last night.
Taking food off the table of already hungry poor kids to pay for his mates' champagne. |
I was sending you there so you could see real time market rates, simple as that really.
You can hate the government as much as the next guy on here and obviously there was an initial reaction to yesterday but this is largely (although not solely) being driven by the Fed. You really only have to look at the Euro against the dollar to understand that this is not a uniquely UK issue. It's at historic lows also. Look at where it is YTD against the Dollar. So no,it's not fake news is it.
They are purposelessly crashing assets and as long as they stay ahead of the pack in hiking rates (they will) investors will be heavily weighted in USD. Which they tend to during times of uncertainty anyway. Rates will stay high until the unemployment rate goes up in the US, which I think could happen next year unfortunately. At this point rates will change and so will the pounds value.
People have been very used to historic low interest rates for a long time, combined with trillions pumped into the economy during shutdowns and a massively overinflated stock market, things had to change, the party is over.
I guess the drinks are on me this Christmas though. [Post edited 24 Sep 2022 16:10]
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| As the pound crashes, inflation soars, and investors run for the hills... on 16:14 - Sep 24 with 959 views | BlueBadger |
| As the pound crashes, inflation soars, and investors run for the hills... on 02:44 - Sep 24 by Kropotkin123 |
To think they sell themselves as the party that can put the economy first. They've destroyed it through ineptitude. |
To be fair they HAVE put it first. They've prioritised creating an economy which primarily benefits their friends and donors. |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 16:23 - Sep 24 with 947 views | XYZ |
| As the pound crashes, inflation soars, and investors run for the hills... on 15:54 - Sep 24 by Joey_Joe_Joe_Junior |
I was sending you there so you could see real time market rates, simple as that really.
You can hate the government as much as the next guy on here and obviously there was an initial reaction to yesterday but this is largely (although not solely) being driven by the Fed. You really only have to look at the Euro against the dollar to understand that this is not a uniquely UK issue. It's at historic lows also. Look at where it is YTD against the Dollar. So no,it's not fake news is it.
They are purposelessly crashing assets and as long as they stay ahead of the pack in hiking rates (they will) investors will be heavily weighted in USD. Which they tend to during times of uncertainty anyway. Rates will stay high until the unemployment rate goes up in the US, which I think could happen next year unfortunately. At this point rates will change and so will the pounds value.
People have been very used to historic low interest rates for a long time, combined with trillions pumped into the economy during shutdowns and a massively overinflated stock market, things had to change, the party is over.
I guess the drinks are on me this Christmas though. [Post edited 24 Sep 2022 16:10]
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The £ has dropped over twice the amount of the € against the US$ in the last month. Nearly three times as much.
Apart from that, some of what you wrote is correct. | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 16:24 - Sep 24 with 944 views | HARRY10 |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:46 - Sep 24 by BloomBlue |
Brown bailed out the banks by around £130billion and also presided over the BoE giving £375bn of cheap credit to the banks through quantitative easing - none of that was in their manifesto. Which given the cost was ripping up the manifesto and did implement policies quickly that weren't discussed.
That's the thing with being a government issues change which you cannot foresee in the future, financial crash, pandemics, wars and that will result in a change of approach sometimes from their original manifesto.
All I want from a government is a government who can react.
I'm not convinced Truss's approach will work but the current cost of living problem is global caused by the pandemic and then Russia starting a war and using energy as a weapon. |
"using energy as a weapon."
I think the hip newspeak is 'weaponised', which is another example of the not too bright deluding themselves that something is new, because they have given it a new word.
The act of cutting off supplies to the other side go back thousands of years. | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 18:29 - Sep 24 with 879 views | Lord_Mac |
| As the pound crashes, inflation soars, and investors run for the hills... on 22:10 - Sep 23 by StokieBlue |
That's technically true but I think the opening post was clearly framed in a way to ask who in the public was supporting these cretins. The supporters you have highlighted are amongst the cretins thus wouldn't be able to be cited as supporters.
My point is more that it's outrageous that they can implement these policies without any kind of mandate from the public.
SB [Post edited 23 Sep 2022 22:12]
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Amazing we have an unelected head of state and a head or parliament who got 88,000 votes out of a population of 65 million, most of whom weren't even asked, and yet we criticise the EU for being undemocratic! | |
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| As the pound crashes, inflation soars, and investors run for the hills... on 19:00 - Sep 24 with 856 views | StokieBlue |
| As the pound crashes, inflation soars, and investors run for the hills... on 12:23 - Sep 24 by Zapers |
And what exactly do the public know? You do realise we are living through very different times to what we faced when your government were elected. Of course policies change, we are facing one of the biggest crisis of modern times.
As far as the OP is concerned, the inference is that this issue with the pound, inflation and investments is all down to government policy. The USD ALWAYS strengthens in times of crisis. Idiot Putin threatening nuclear weapons doesn’t actually help, on top of that have you checked US markets? |
Very few independent analysts think these policies are a sensible way to deal with the crisis, they are essentially an ideological gamble and the markets are reacting as such.
Perhaps if they had instigated policies that helped the majority in what you yourself have called "the biggest crisis of modern times" then people might be more understanding about a lack of mandate but they haven't, they have opted to implement changes which benefit large corporations or the already wealthy.
"what exactly do the public know?"
This could equally be rephrased to "what exactly do the government know?". They aren't economists and have refused to allow the independent structures that are in place to do the proper fiscal due diligence on the policies. You've essentially insinuated an appeal to authority fallacy by implying that they know what they are doing when there is little evidence to suggest they do.
SB | |
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| As the pound crashes, inflation soars, and investors run for the hills... on 19:06 - Sep 24 with 838 views | bungaytractor |
| As the pound crashes, inflation soars, and investors run for the hills... on 14:47 - Sep 24 by Zapers |
Care to explain your obsession with pickles? |
I like rollmops | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 19:30 - Sep 24 with 797 views | jeera |
| As the pound crashes, inflation soars, and investors run for the hills... on 19:06 - Sep 24 by bungaytractor |
I like rollmops |
Funny how sashimi became so popular here when most kids growing up wouldn't touch a roll mop with a long stick.
I wonder which came first, the Japanese delicacy of raw fish with soy sauce or some bloke just off a boat in Hull armed only with some early version of Sarsons. |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 19:44 - Sep 24 with 776 views | StokieBlue |
| As the pound crashes, inflation soars, and investors run for the hills... on 13:20 - Sep 24 by Zapers |
I’m not an economist so I can’t be sure what government policy will achieve. However there are many economists who support her policies, and there are those that don’t. I guess only time will tell whether government have got it right and it will help kickstart the economy.
US markets, as you correctly say, are badly affected. Clearly this has nothing to do with UK policy.No one really know what spooked all markets in the last few days. The way the US has fallen suggests that it’s something more sinister. |
Can you outline these many economists who support her policies and the studies they have done to back it up?
Even a large number of her own MP's are not convinced. A few choice quotes:
“Either it will be a stroke of genius that saves the country, or it will blow up the economy,” said one MP. Another stated: “There’s a 10-15% chance it’s genius. There’s a 10-15% chance she’ll get lucky somehow. And there’s a 70-80% chance it’s a disaster.”
“This whole thing boils down to infectious childlike optimism in Downing Street. It would almost be endearing if it wasn’t so completely and utterly f**king mad.”
SB | |
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| As the pound crashes, inflation soars, and investors run for the hills... on 20:30 - Sep 24 with 727 views | XYZ |
| As the pound crashes, inflation soars, and investors run for the hills... on 19:44 - Sep 24 by StokieBlue |
Can you outline these many economists who support her policies and the studies they have done to back it up?
Even a large number of her own MP's are not convinced. A few choice quotes:
“Either it will be a stroke of genius that saves the country, or it will blow up the economy,” said one MP. Another stated: “There’s a 10-15% chance it’s genius. There’s a 10-15% chance she’ll get lucky somehow. And there’s a 70-80% chance it’s a disaster.”
“This whole thing boils down to infectious childlike optimism in Downing Street. It would almost be endearing if it wasn’t so completely and utterly f**king mad.”
SB |
I asked him the same question at 1.30 this afternoon.
No response.
He posted on the forum after that time so one presumes he saw the question. | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 20:37 - Sep 24 with 719 views | Nthsuffolkblue |
| As the pound crashes, inflation soars, and investors run for the hills... on 20:30 - Sep 24 by XYZ |
I asked him the same question at 1.30 this afternoon.
No response.
He posted on the forum after that time so one presumes he saw the question. |
Zapers is the epitome of the ideology of balanced reporting meaning that you give equal time and weighting to both sides of the argument even if 100% of the experts are absolutely clear on the disaster it will be but Tim from Wetherspoons says he feels it in his water that it is a great opportunity that shouldn't be missed. |  |
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| As the pound crashes, inflation soars, and investors run for the hills... on 21:02 - Sep 24 with 704 views | XYZ |
| As the pound crashes, inflation soars, and investors run for the hills... on 20:37 - Sep 24 by Nthsuffolkblue |
Zapers is the epitome of the ideology of balanced reporting meaning that you give equal time and weighting to both sides of the argument even if 100% of the experts are absolutely clear on the disaster it will be but Tim from Wetherspoons says he feels it in his water that it is a great opportunity that shouldn't be missed. |
Apparently she's got Patrick Minford as her economic adviser.
If I recall correctly, he argued that brexit was a great idea even though it would destroy british farming and manufacturing. | | | |
| As the pound crashes, inflation soars, and investors run for the hills... on 21:18 - Sep 24 with 692 views | Zapers |
| As the pound crashes, inflation soars, and investors run for the hills... on 16:23 - Sep 24 by XYZ |
The £ has dropped over twice the amount of the € against the US$ in the last month. Nearly three times as much.
Apart from that, some of what you wrote is correct. |
And your point is? | | | |
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