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.

The Conservatives are now gambling our money. Rachel Reeves, Shadow Chancellor is right.

'They're like two gamblers in a casino chasing a losing run, but they're not gambling their money, they're gambling our money. It's reckless.'

Yes agree. That model still has the swivelling eyes, throbbing forehead vein and a bit of dribble coming from the bottom lip. Was ironed out with later bot versions so maybe that one escaped the recallGrin

Is it made in Russia?

This is like the person at work who has been wreaking havoc for years, and then says about the latest poor decision "well what would you have done differently?" I would've made different decisions over the last 12 years actually and not been in such a grim position in the first place. But y'know if asked to pick up someone else's mess, I wouldn't have gone for trickle down economics which is proven not to work. Even Sunak predicted that this course of action would be disastrous, and I'm no fan of his either

The companies won't retrain any of the existing workforce , easier to have people on visas come over all ready trained up! They will be on higher wages and can buy up the repossessed homes at knock down prices.
I don't blame them or the ones wanting to come over, but these things seem on the cards and have all been mentioned recently too
Boris Johnson went over to India only a few weeks before he resigned

setting aside the bad-faith arguments around immigration stressing communities in the Brexit vote run up, retraining isn't that simple, given the Tory govt hasn't invested in educational capacity in these areas. And even someone on a low-ish to medium salary will have to fund it, all while inflation, gilt death spiral wipe out earning power and send the cost of living ever higher.

Here here.

Why would anyone want to emigrate to a country with a basket case economy? I don’t think a three bed semi at a knock down price would be sufficient incentive. Where would you go if you were highly skilled and super talented? I’d be off to the US or Australia personally.

I’ve put this on other posts since Friday but there will be a vote in this so called fiscal plan so write to your mp with your opinion! There will be backbench tories who disagree and hearing from their constituents could help them vote against. Or as a minimum be in no doubt as to the strength of feeling.

The We Work for a You website makes it really quick and easy. A few minutes for a quick message is all that’s needed.

MPs should represent their constituents. They need to hear from us directly. We need to engage directly, not only at election times. And I include MPs of all parties not just Tory!

the one thing that would immediately stop this rot is...

well, we all know what it is, don't we

You know there will always be investors to snap up cut price houses right? They may be vultures but there's always someone to buy if the price is right.

Looks like the letters of no confidence are already being sent according to Sky news news.sky.com/story/cost-of-living-latest-chancellor-hints-at-further-tax-cuts-as-pound-falls-to-historic-low-12615118?postid=4532488#liveblog-body

Don't listen to people who write 2 word answers and spell both words wrong

Where were all those investors in the early 90s? Repossessions didn’t move, they were on the market for months.

If there are enough carrots in the bag I think a few people might be persuaded to come over to live here.
They would be mad, but depends on the terms and conditions I suppose. Money is a very big incentive.
The companies can buy up the cheap housing stock too.

Also, if this is signalling a firesale to end all firesales, what is the plan for repossessed homeowners and the epic psychosocial consequences of that catastrophe?

Oh, maybe a copy of The Fountainhead and a strip of Xannies?

thank you, doing this right now

I thought that poster was being sarcastic.

I’ve been working full time for 10 years. I’ve gone from a salary of £13k to £25k in that time but I’m no better off now that I was then (probably worse off). Childcare and the mortgage eat up two thirds of my pay, leaving me with a third for the rest of my bills, food and everything else. I’m in training but it will be years before I see any benefit from it. I’m really wondering what the point of me working is. I’m sick of just scraping by with no money for anything fun. I don’t judge people for choosing to be on benefits (especially with kids) because low paid work sucks, and that’s all a lot of people can get.

I was expecting Truss to be shit. But for there to be serious talk about throwing her overboard after just three weeks in is gobsmacking. I think a lot of people were expecting her loony campaign promises to be parked or fudged once she had to face economic reality - but she has gone even further and doubled down.
Cumming called her "The human hand grenade" - seems like an understatement.
So the options are -

1. She forges ahead in the face of market meltdown and inevitable interest rate rises which destroys the whole stated purpose of the budget (to promote "growth")

1. She is forced to ditch the budget (which pretty much destroys her government on day one). Could Kwarting survive that? Could she?

1. They force her out - ( and yeah - I think they will do their best to dodge a leadership election and appoint Sunak.)

She said she would hit the ground on day one (missing out on running in the original tweet) - looks like she has.

Hit the ground running…. With a hand grenade or five by the looks of it. I don’t think she will go easily.

Getting serious now Mick Hucknall is calling for a general Strike. I guess the clue was in the name Simply Red.

Simply Red
@SimplyRedHQ
This awful, AWFUL Conservative tenure has been disastrous for the UK. This cannot stand. If they won’t resign and call a General Election, then an all out General Strike seems the only option. Brexit Britain is on its knees. #PoundSterling

Another item I am dreading the detail of is the reference by KK to reducing planning restrictions as all I can think is that this will remove or massively reduce current environmental assessment requirements.

@StJeanDeVence

But...but ...Jerumbly Cromblims! BINGO!
Ah, yes, Corbyn who was going to turn the UK economy into a basket case and take us back to the 70s. Thank FUCK we didn't go there, eh?

😆😆I have to say, I agree. This problem is bigger than any one political party, and it really doesn't help the opposition's cause when they roll out a dusty puppet who wants to "revolutionise" Britain by re-imagining the golden days of the 70's. He had dreams and half-forgotten memories in his head - and it would have been an absolute disaster if he'd ever got into power. Of course, the Tories will fuck the lower classes from behind with a huge dildo, at hyper-speed until the batteries fall out - it's what they enjoy. But no amount of squealing will make them stop; it's the ballot box that does the talking.

And there is the rub, we (the Great British Public) in full possession of our mental faculties (mostly) CHOSE TO VOTE FOR A TORY GOVERNMENT. Yes, the choice was right there. Presumably we knew what we were voting for. But was it a case of the devil or the deep blue sea for many? I think so.

Brexit - should never have been put to the public. We can't be trusted. We made the wrong decision there too.

Covid - no political party could talk that away, it was always going to have large, far-reaching economic repercussions that transcended anyone in power. We always knew we'd have to pay for it didn't we?

So some factors could not have been avoided but some were conscious decisions to go down those paths, and the mixture of the two has created the place we find ourselves in now. It's always bigger and more complex and more layered than people pretend it is.

I heard the Shadow Chancellor in interview this morning - I didn't feel she came across particularly well - but while Labour shadow minister gave a poor interview (IMO) the Tory chancellor gave a dire budget.

DH thinks they are gambling economy will bounce before dropping off and they can call a snap election in the sweet spot. I'm not so sure - and if they are I'm not sure it will work.

Coalition, Brexit then a global pandemic.

🤐People here don't like to hear that other European countries are doing better