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.

What they are doing now is disaster capitalism masquerading as libertarian ideology.

KK knows exactly what he is doing.

Now you will see US & Other buyout groups buy up distressed UK assets on the cheap.

this fella? www.bloomberg.com/news/articles/2021-03-22/odey-was-cleared-of-sexual-assault-now-other-accusations-emerge

There was a mention upthread that MPs could refure to vote for the budget is that correct? How might that pan out?

talk about wardrobe falling on you with the key in the lock

*refuse

Yep. And you forgot Brown. Starmer is now the fourth Labour leader who the poor concerned "sensible" centrists who just want a "reasonable" alternative "can't" vote for - despite those four covering the entire spectrum from radical left to barely-distinguishable-from-Tory.

Can people please just be honest about the fact that they're going to stick to the neoliberal capitalist model and the Tories as "natural party of government" of it, NO MATTER WHAT - because at least it makes them feel safe about their house value and income tax rates - and it doesn't make one jot of difference what Labour do because there will ALWAYS be an excuse not to vote for them?

yes, but they renamed this Budget a 'fiscal event' to circumvent votes and OBR reporting

Honeslty with the reaction to this and the prospect of the pound going below the dollar I think it's 50/50 Truss is still in the job by next year. Even tory backbenchers are realising there's no broader mandate for this shit.

Britannia Unchained.

It's all out there, in the public domain, as it was before the referendum for anyone interested to look. And one Elizabeth Truss was one of the authors of it.

But oh no, "this is not what people voted for!"

They are going to have to raise the rates again thank god BoE are somewhat independent. We need a GE to get this shower of shit out .

other authors being KK and Priti Patel

The point is only 80,000 people voted for her. Hardly put to the public was it

Next year ? She'll be lucky to see the week out I suspect

A mere three weeks in the job (half that time was mourning period so doesn't even count) and she's managed to completely fuck the economy.

#girlboss

I have more prisons....

en.wikipedia.org/wiki/Category:Defunct_prisons_in_England

The BoE can easily be silenced and taken back into Government control. Especially if they dare to challenge The Will Of The People (®)

Tories are royally butt fucking us

Sadly foreign investors would. And even if there were local people with enough cash, what about the ones who are losing their homes? Where would they go?

To hell ?

To all the Tories on this thread, I give you our new PM and ask you all to stand in honour.

I was actually glad we didn't have an economy like the USA where people have to work three or four jobs to pay rent on a tiny apartment and afford the cost of food over there. Looks like that is where we are headed.

And they all say Labour tanks the economy

Are people writing to their local MP? They need to know we're angry!

If they are lucky they will be renting their house.

Implied interest rate expectation by mid 2023 is now 6%

That is incredible.

The UK economy is going to deflate like a bursting balloon.

Labour grasped that and put Starmer in charge. Now there's no shortage of people saying how there's "no effective opposition" and no point voting Labour because they'd barely change anything. And you know what? They're right.

This is a fucking ridiculous circular argument. Labour under Corbyn produced two manifestos outlining a different way of taking the country forward. People made a free choice not to elect them. But they remain unelected because people didn't elect them, not the other way around. The fact that they didn't get elected doesn't prove retrospectively that they were "unelectable". To be electable, all people had to do was vote for them, which was a choice.

There's a serious point here. We're in the early stages of momentous historical change. This is not just your everyday minor squabble about whether the base rate of tax should be 20% or 19%, within a balanced mixed-economy consensus that most people feel comfortable in and trust to look after their future prosperity. This is the death throws of the international capitalist system that has never really recovered since 2008, combined with the additional unprecedented challenges of climate change.

Most people are in complete denial about the scale of radical change that is necessary, and is GOING to happen one way or another - whether from the left, as Labour attempted in 2017 and 2019, or from the right supporting Trump's attempted takeover of American democracy and now winning government in Italy. Meanwhile, they convince themselves that they obviously "CAN'T" vote for someone who has a beard and was the subject of a series of fabricated character assasinations by the right wing press. They can't vote for him because he's unelectable, and he's unelectable because they can't vote for him!

I'm not even saying all Labour's proposals for change were the right ones. But anyone who thinks we're still in ground central exercising healthy suspicion about anyone suggesting changes that require more than a three-word soundbite to understand, is kidding themselves. That ship has sailed.

Radical change from the left under Corbyn was one of the options. The other was radical change from the right, which is what we're now getting. The difference is that Corbyn was honest about it.