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.

Well @waffless you are really showing your true colours. You really think this government (and the one under Johnson) are better than labour? With all the blood they have on their hands and their crushing of the majority of society? You must really hate everyone but the rich - or you've been reading the Daily Fail too long.

I thought exactly this for a very long time. There are some recurrent hardliners endlessly hissing venom and doom in equal measure.

Posters calling for death should be banned and investigated by the police. They are exactly the Labour”s vile and repugnant voters that make the Tories stay in power

100% this.

Sorry @AuntSalli it was just your comment about a large family and having the economic nouse to not employ a nanny for more than two years to avoid pesky employment rights that made me wonder. Jacob does have a look of Aunt Sally about him though

I am pretty sure this place is full of Momentum members pushing the agenda all the time.

Nope. This place is full of ordinary people, mainly women, mainly mothers, who are sick and tired of seeing their kid's futures being gambled with by millionaires.

I know you have to trot out this Momentum stuff to get through the day, but you're absolutely incorrect. Like I said, cognitive dissonance.

“I expect many of them give a lot to charity.”

😂😂🥴👀😵‍💫🤦🏻‍♀️

do you really?

But on the flip side, those with savings will finally see some return. Interest rates can't rise soon enough.

Sweden and Japan have some very low interest rates, Japan in particular refuse to raise them, still negative i believe.

But what you fail to comprehend is Japanese 10 yr gilt yields are 0.3% UK 10yr gilt is 4%.
So in other words, we are being charged many times more to borrow on international markets i.e loss of confidence in UK plc - this is what folk need to worry about.

The slide in the £ coincided pretty much word for word with Krazy Kwartengs speech.

Just waiting for the BoE to start buying sterling.....

I think there’s little doubt that Boris and Worzal shared the same hairdresser maybe you’re onto something.

Boris Johnson's green agenda for energy seemed very similar to what they said at the Labour Party conference yesterday ! Not a great example of Boris Johnson being a ' lefty' because he isn't , but many blamed him for the higher energy bills!

Liz Truss is a working mum with 2 young children. Calling for her to be shot is repugnant. Disagree with her politics, absolutely, but for her to be executed is abhorrent.

The Pound is recovering so your black Monday wishful thinking seems to be somewhat premature at best.

Sky Live blog

news.sky.com/story/labour-party-conference-live-battle-lines-drawn-with-mini-budget-frontbencher-says-labour-shouldnt-reverse-basic-rate-income-tax-cut-12593360

Liz is 'f**' - former minister claims letters of no confidence are already being submitted against the PM
The disquiet with Conservative MPs over the mini-budget is growing.
One Tory MP who served as a minister under Boris Johnson has told Sky News: "Liz is f**."
"She is taking on markets and the Bank of England.
"Her, Kwasi, Philp and Simon [McGee] are playing A-level economics with people's lives. You cannot have monetary policy and fiscal policy at loggerheads. Something has to give."
The source also claimed moves to trigger a vote of no confidence in Ms Truss's leadership were already underway:
"They are already putting letters in as think she will crash the economy. The tax cuts don’t matter as all noise anyway - mainly reversing back to the status quo this year.
"The issue is government fiscal policy is opposite to Bank of England monetary policy - so they are fighting each other. What Kwasi gives, the Bank takes away."
Another Tory MP told Sky's Rob Powell that Friday's announcement had been a "s*show".
The MP said they weren’t aware of any coordinated plan to vote down government legislation or take other action to show concern, but added they would not rule out something happening given the events of the last few days.

What really concerns me is he came out yesterday after Fridays decline and promised more of the same with further tax cuts. Utterly bonkers.

I do think the big thing is the Conservatives aren't the conservatives anymore. I don't think some of the electorate have quite caught up with that fact yet.

Oh I must have been mistaken it was Boris whom started the war and invaded Ukraine therefore pushing energy prices through the roof, nothing to with Putin then. My mistake

Another VONC on the cards? What a waste of time the Tory party is. But yeah so much better than if you let Labour have a go!

It's recovery is based on the assumption that there will be an emergency BoE meeting this week to increase interest rates.

There is an argument to be made about whether the BoE didn't raise quick enough in the first place, but let's not pretend the minor recovery of the pound is spontaneous

After hedge funds are now buying up the pound and gobbling up what is bound to be enormous profits.

This is not news people, currencies go up and down. It will settle.

What is the point of economic growth if, when you look under the headline rate, it’s simply skewed to the wealthiest sector of society. The assumption that “growth” is good is underpinned by the notion that everyone benefits but the guaranteed benefits here go to the richest with a fingers-crossed approach for everyone else. It’s also extremely hard to govern a country when the experiences and issues of the population are ever more diverse.

Nope it is recovering independently, and in another hour or two this pretend crisis will be over and lots of HF will have made a small fortune.

BoE have not announced any meetings of any kind.

Look it was a bad joke and I didn't say that and have apologised I am a pacifist and have never hurt a single soul in my life as anyone who knows me would testify to. Joe Cox was killed by a nut job fascist and David Amess a nut job Islamist. You may hate my pungent views fair enough and I should probably tone them down but to paint me a potential killer that should be investigated by the police is ridiculous.

I don't blame Boris Johnson for the war in Ukraine , I was making the point that the green agenda he was talking about last year at the G 7 summit in Glasgow was similar to labours green agenda. People have blamed this for higher energy bills for the investment in greener energy ( wind turbines etc)

BoE have not announced any meetings of any kind.

I know, that's why I said it was an assumption.

YANBU OP. Given the global reaction, this country will be bankrupt by the weekend and Truss & co will be blaming the Bank of England. So what will happen then? Can the country be put up for sale? Would it make a nice golf course? Or maybe a Disneyland? It's impossible for me to make a rational comment about the total incompetence of the fools who've nicked the keys to Downing St.