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.

@BerriesOnTop - but yes, agree that calling for shooting politicians is terrible - especially given David Amess and jo cox.

You’d like to think he knows what he’s doing wouldn’t you.

For various reasons, I am not as worried as many on here are re IMF bailout and ‘cap in hand’ comparisons. Doesn’t mean that what he’s done isn’t questionable though.

Anybody remember Canada’s bloodbath budget? Painful, but did the job (and I am not making a direct comparison here either)

Are you having a laugh? He 'economic' PhD was on William III's attempts to change the currency in 1695.

Agree too. People lose their heads and do it already it doesn’t need to be endorsed

Who else remembers - almost 30 years o the day - the UK crashing out of the ERM - interest rates got to 18% before the day was out.

That was the Tories too. #justsaying. Still it's clearly the will of the people we have this. That's how democracy works, remember ?

And would any of your now begrudge scotland our referendum.

I want out of this shit show so so badly. Who the hell thinks the tories/the union are a fiscally responsible country/government. Never mind the covid parties shit show, ppe fraud, rape clause, total callous disregard for working poor & disabled & poor people 900% rise in number of food banks

It's horrific what has become of the uk.

The pound has already been on its downward trend since last year. No expert here but in a bear market, any major policy changes seem to make the market more bearish in the short term.

I think the only economist they listen to is Patrick Minford.

No, I wasn’t having a laugh.

I asked a question.

See this little thing here

?

Yes Berries is Asian based? look what happened to Shinzo Abe, shooting is not something anyone should joke about.

Truss though may get off more lightly, letters going into the 1922 committee, with one ex minister calling her names that Sky news couldn't repeat.

Possibly also something to do with the tories poll ratings.

I read an article recently saying the German economy is about to tank too. Unfortunately I think we’re going to see some very difficult times in Europe not seen since WW2. I’m grateful the US economy is strong. We’re going to need them!!!

What amazes me is intelligent people sticking to their small state, low taxation ideology when living standards and public services are in free-fall. Re the NHS, Lots of discussion on here about how inadequate private health care is if they are in real crisis, (NO ICU, people) and yet think it is their safety net. Wild.

Could we have one in northern Ireland too do you reckon? We have a double shitshow here, all the downsides of the Tory policies and not even any of the crumbs of the shit sandwich because the DUP won't go to fucking work so any of our share of the funding for cost of living crisis isn't available to us.

We really should have a third party HR department for politicians who can sack them for being useless or not turning up to work.

@Quincythequince KK has no substantive quantitative training. His UG degrees are History and Classics; his PhD is History of Economics, which is quite a different beast from Economics.

He does have an MBA. But I am a STEM academic (Russell Group) and many of our students take quantitative modules in the Business School to enhance employability. The approach is very superficial and memorisation based -it drives them bonkers. There is no evidence whatsoever that KK has been trained meaningfully in Economics

The Conservatives will lose votes from many sections of the electorate who voted for them before. Labour does not provide an effective alternative. What is needed is trust and those who voted conservative last time, who will be willing to vote away, do not see a clear choice. That is the elephant in the room.

Elephant in which room? We're hardly unaware that many people's favourite pastime seems to be contempt prior to investigation where Starmer's Labour are concerned. Miliband wasn't good enough, Corbyn was a terrorist supporter and anti-Semite (except he wasn't - read the conclusions of the Forde report unless you want to go on lying to yourself) and Starmer isn't good enough either. Yet by that shamefully weak logic, the Tories, who are dragging the country they have eviscerated in the last 12 years into economic Armageddon for most of us, are doing a better job than any Labour government could possibly do?

Take your thinly-veiled far right agenda and shove it up the ar*ehole of the UK. Thanks to the Tories, it's gaping wide open.

In China, they sometimes shoot corrupt officials maybe we could learn from that @vera99 you're an utterly vile human being. Sadly, sometimes our politicians do get shot, to condone it, is frankly inhuman.

So what business is going to grow and generate jobs while nobody is spending any money? People create businesses to make money, not out of the goodness of their hearts because they've been given a tax break.

I shall tone down my anger and put on the record that China's policy of shooting corrupt officials is not something I agree with. Though they have shaken down most of their billionaires (with the threat of jail or worse) and taken vast swathes of their money to try and balance the state books whilst Bezo/Branson/Musk build toy rockets to play at being spacemen. Maybe we could learn from that?

www.forbes.com/sites/jenniferwang/2021/01/07/disappearing-billionaires-jack-ma-and-other-chinese-moguls-who-have-mysteriously-dropped-off-the-radar/?sh=69d531f21874

We have a £250k mortgage, thank christ not more. At the interest rates now priced in apparently our mortgage is going up £750 per month.

We have three kids just turned three or under. The only thing that will save our house if that were the case long term is that the mortgage isn't more - because we grew up in the 80s and live cautiously.

Negligent criminal wankers. And BTW I was at uni with one of the heads of the Tory think tanks who last week was taking credit for a 'budget' he had basically written. He's from one of the richest families in the country and owns a stately home in Oxfordshire. Still I suppose this is only a new variant on what his family have been doing to mine for a thousand years.

Unforfuckinggiveable.

At the last election, labour put out Jeremy Corbyn. He was unelectable and these are the consequences

You know it's bad when Tory voters STILL try to whimper some bullshit about Jeremy Corbyn.

What absolutely mindless, brainless, servile idiocy. Own your own fucking wreckage and don't lay it at anyone's door apart from this vicious, cruel, monstrous, inept, incompetent, lying, grasping fucking government.

He use to work for Odey Asset Management providing political advice. Would be interesting to know what’s happened to Odeys hedge fund.

she worked for shell. Does she has shares? No wonder they don’t want a proper windfall tax or nationalise the energy companies.

Yep

‘I'm not panicking at the moment’. Tickety boo for you! 😀

A ridiculous rhetoric statement dressed up as a question is still ridiculous regardless of how many question marks you put in or how patronising you try try to be. Kwasi Kwarteng does not have an economic Phd and is not qualified for the job.