Black Monday anyone? The tories should be in jail

[Upthebracket22]

The pound is now at its lowest point against the dollar since decimalisation in 1971 at 1.03. It’s probably going lower and the Bank of England will likely need to step in with an emergency interest rate rise today. Black Monday possibly?

All because of the mini budget on Friday. The Tories should be in jail. Especially if their rich backers were shorting the pound as it appears to get rich.

Another interest rate rise today after Fridays? That’s a shit show.

It wouldn't be a surprise if an emergency rate rise happens this week

The latest news about the review of environmental farming strategies is the icing on their rotten cake. They’ve lifted the cap on bankers bonuses, cut tax for the very wealthy, ruined the pound (but damn right they’re going to make millions from that), lifted the ban on fracking and now this morning the farming review.
I feel despair. This government remind me of Trump and his almost insane actions in his last weeks in office.

The BOE will need to calm the markets & that means an interest rate rise again - or they’ll be needing an IMF bailout 😳

What can we do? Surely the public aren’t going to just accept this? At some point there will be riots won’t there? I’m scared, to be honest.

You would hope that some decent tories will vote against the rogue ones? Are there any decent tories?

Not enough of them 🙁

Are there any decent tories?

All demoted or gotten rid of by Johnson.

It’s absolutely mind boggling that we are in this position - I honestly think it’s a smash and grab of the country as they know they’ll be voted out at the next election

Next meeting isn't due to 3rd Nov...
🤔

I think you could be right.

@andtheweedonkey there’s no way they can wait until 3rd Nov- it’s an absolute crisis

They are disaster capitalists. They will have made a lot of money from this.
Despicable.

@Boxin yes they should be in jail- shorting the pound for their rich mates- it’s disgusting!

They're not even hiding what they're doing. They're literally getting away with murder and there's nobody to hold them to account.
The BBC are more concerned with examining Labour than holding the government to account.

Everyone I know who votes Tory is STILL saying ‘Labour would’ve been worse’

They can hold an emergency meeting to rise rates.

Growth was never their plan. They want to ruin and loot our country for all they can hence the ridiculous levels of borrowing and then tax cuts for the wealthy on top of that... they're destroying our country and there's still people who refuse to see it 😢

Protests are needed NOW, writing to your MP is needed NOW, even more so if you're in a Tory seat they need to be aware we're angry!!! Even leave comments on the Daily Mail articles etc daft as it may seem - they need to know how the electorate feel. If they think we'll sit back and take it the next budget all hell will break loose, and they won't care they'll fuck off to the Caymans with newly acquired millions/billions to retire.

This is genuinely terrifying and so so fiscally irresponsible - they're happy to see the working population suffer. How do we get people like this in Government?!

I’m not allowed to vote in Uk elections despite them having a direct impact on me and where I live. However what could labour have done to make this better? If there was a GE now labour wouldn’t be able to turn things around overnight.

im not trying to be snarky just trying to understand

And we all thought Boris was a bell end !

@ememem84 ”However what could labour have done to make this better?”

Well not hold a fiscally irresponsible budget designed to short the pound and benefit the very wealthy in the middle of a cost of living crisis to start with.

However what could labour have done to make this better?

Not given us a budget that was designed to deflate and crash our own currency like KK just has done. Tories made that decision. Everyone else could see it was madness.

The pound didn’t drop just because of mini budget. The bigger problem for the markets is that interest rates are not going up at the same velocity as the US. If you’re going to have the largesse of printing £450bn in two years to shit down the economy, then rates have to rise to deal with it. The US can afford to to do this because it has a strong economy right now, because believe it or not their economy is structured in exactly the way that people around here don’t like. There is no easy way out of this. You don’t like it, but growth is the only way out of it. This low productivity economy has been on QE life support for too long. The re structuring of the economy though lower taxation and big investment (private and public) is needed. That latter is yet to happen and takes a lot longer.

But why is it so difficult to have rational debate here. When you read the comments on this thread, it’s hysterical shrieking.

This. Our MP wasn’t a bad egg generally. He stood down at the 2019 election.

they were all replaced by ultra loyalists.

So the announcement of the budget without an OBR report and then more hints on tax cuts over the weekend is coincidental?
Pull the other one.

hysterical shrieking.

Yes off you pop you silly wimmin, go back to thinking about kittens.

Boris will be seen as a Saint in comparison.