Genie Posted October 13, 2022 Share Posted October 13, 2022 1 minute ago, HKP90 said: Oof. I see the Express is doubling down by blaming the BoE. The only institution which at the moment is holding us back from total economic collapse. Yeah, also the Express being the only institution that doesn’t piss itself laughing when JRM says something. Link to comment Share on other sites More sharing options...
choffer Posted October 13, 2022 VT Supporter Share Posted October 13, 2022 Political editor of newsnight with a tasty snippet 2 Link to comment Share on other sites More sharing options...
Genie Posted October 13, 2022 Share Posted October 13, 2022 8 minutes ago, choffer said: Political editor of newsnight with a tasty snippet I’m a bit disappointed they aren’t going to unveil a plan to spend money, reduce debt, and maintain public spending. Its starting to look like they never had a plan beyond “who wants free money?” Link to comment Share on other sites More sharing options...
Genie Posted October 13, 2022 Share Posted October 13, 2022 Link to comment Share on other sites More sharing options...
desensitized43 Posted October 13, 2022 Share Posted October 13, 2022 4 minutes ago, Genie said: I’m a bit disappointed they aren’t going to unveil a plan to spend money, reduce debt, and maintain public spending. Its starting to look like they never had a plan beyond “who wants free money?” Tbf she's doing precisely the thing that she said she would do in that ridiculous "contest" that all the other "candidates" said was unworkable fantasy. I don't see how they can back out of it all and not either resign immediately or have an election to try and provide a mandate for financial seppuku. 1 Link to comment Share on other sites More sharing options...
Genie Posted October 13, 2022 Share Posted October 13, 2022 Are we really in a position where the people running the country thought they could announce huge cuts in personal and corporation taxes without actually having an idea about how to fund it? It’s unbelievable that they thought they could chuck it out there and make it land. Anyone of us would be fired for such a short sighted plan which resulted in a loss of enormous sums of money. Not to mention the personal impact of people trying to get mortgage. This is huge. Link to comment Share on other sites More sharing options...
Genie Posted October 13, 2022 Share Posted October 13, 2022 2 minutes ago, desensitized43 said: Tbf she's doing precisely the thing that she said she would do in that ridiculous "contest" that all the other "candidates" said was unworkable fantasy. I don't see how they can back out of it all and not either resign immediately or have an election to try and provide a mandate for financial seppuku. Even a bad plan to fund it would be a plan. They never had a plan, and they are in charge. Link to comment Share on other sites More sharing options...
desensitized43 Posted October 13, 2022 Share Posted October 13, 2022 Just now, Genie said: Even a bad plan to fund it would be a plan. They never had a plan, and they are in charge. They're in office but not power. Let's just expand on that for a second. The party that won the last election by 80 seats cannot get it's agenda through. 1 Link to comment Share on other sites More sharing options...
blandy Posted October 13, 2022 Author Moderator Share Posted October 13, 2022 There is no option but to reverse what they've done. Here's why, I think. Carrying on with unfunded spending means that the free market, and tories believe in the free market, financial situation will be that institutions will assess high risk levels around UK money, assets, gilts, funds etc. Which will mean all of higher interest rates, falling value of assets, and less funds available for the government and reduced growth and more bankruptcy and homelessness and so on. So they will not be able to do anything or "win" politically. This therefore is a double negative. The decision therefore to reverse ferret, which is only a single negative, is surely inevitable, even for these ideological effwits. They're absolutely forced into it. And that's before the OBR reveal it's (the original plan) is economically unsustainable and incoherent. Plus the independent Bank of England has basically said "we cannot and will not, we are not permitted to, bail out your idiocy and meet the statutory inflation target, because bailing you out means higher interest rates. Grow up". Plus crashing people's pensions, mortgages, and all the rest is suicide. 1 Link to comment Share on other sites More sharing options...
Genie Posted October 13, 2022 Share Posted October 13, 2022 (edited) I looked at the GBP to USD this morning and it was $1.10 to the pound. Just now, $1.13, it seems like the markets have sniffed a u-turn. Edit: chart added Edited October 13, 2022 by Genie Link to comment Share on other sites More sharing options...
bickster Posted October 13, 2022 Moderator Share Posted October 13, 2022 As it happens I had a pension statement from a pension I ceased to contribute to a long time ago the other day. It has consistently shown modest rises year on year. It's not a big pot by any means, it dropped a grand in the last year Link to comment Share on other sites More sharing options...
bickster Posted October 13, 2022 Moderator Share Posted October 13, 2022 3 minutes ago, Genie said: I looked at the GBP to USD this morning and it was $1.10 to the pound. Just now, $1.13, it seems like the markets have sniffed a u-turn. I'll wager the Petrol forecourts haven't as that's been on the rise due to the exchange rate the last week or so. 1 Link to comment Share on other sites More sharing options...
tinker Posted October 13, 2022 VT Supporter Share Posted October 13, 2022 30 minutes ago, bickster said: As it happens I had a pension statement from a pension I ceased to contribute to a long time ago the other day. It has consistently shown modest rises year on year. It's not a big pot by any means, it dropped a grand in the last year The CETV of my pension has dropped £140k this year. 1 1 Link to comment Share on other sites More sharing options...
KentVillan Posted October 13, 2022 Share Posted October 13, 2022 Watching Lilico spontaneously combust on Twitter has been one of the more enjoyable aspects of the Truss Govt 2 Link to comment Share on other sites More sharing options...
sidcow Posted October 13, 2022 VT Supporter Share Posted October 13, 2022 25 minutes ago, KentVillan said: Watching Lilico spontaneously combust on Twitter has been one of the more enjoyable aspects of the Truss Govt She's not got a chance in hell of being the Tory leader after the next election anyway (even if she makes it that far) She'll be dropped like a hot potato when they suffer their worst ever election result. If I was her I'd forget whatever I promised the members to become PM and concentrate on trying to build SOME kind of legacy that will make her money on the after dinner speaker tour. Link to comment Share on other sites More sharing options...
bickster Posted October 13, 2022 Moderator Share Posted October 13, 2022 8 minutes ago, sidcow said: trying to build SOME kind of legacy that will make her money on the after dinner speaker tour. How not to win friends and influence people? Link to comment Share on other sites More sharing options...
Stevo985 Posted October 13, 2022 VT Supporter Share Posted October 13, 2022 The longer it goes on the more I'm convinced she was just being thrown to the Wolves by the party. They've given up on winning the next election and just wanted someone to take the heat for a year or two Link to comment Share on other sites More sharing options...
sidcow Posted October 13, 2022 VT Supporter Share Posted October 13, 2022 1 minute ago, Stevo985 said: The longer it goes on the more I'm convinced she was just being thrown to the Wolves by the party. They've given up on winning the next election and just wanted someone to take the heat for a year or two I don't think the members felt like that. I think they wanted her to deliver on their not living in the real world fantasy. The MPs will know the truth of it but its not really them who put her there. I wonder how many of them who did vote for her will be seriously regretting it now. 2 Link to comment Share on other sites More sharing options...
NurembergVillan Posted October 13, 2022 Moderator Share Posted October 13, 2022 13 minutes ago, sidcow said: after dinner speaker tour. Think I may have found a flaw in your otherwise honourable plan. 4 Link to comment Share on other sites More sharing options...
Wainy316 Posted October 13, 2022 Share Posted October 13, 2022 Anyone taking wagers on who will last longer in the job, Truss or Gerrard? Link to comment Share on other sites More sharing options...
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