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Black Monday anyone? The tories should be in jail

994 replies

Upthebracket22 · 26/09/2022 06:51

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.

OP posts:
Thread gallery
14
StJeanDeVence · 26/09/2022 14:47

you have large areas where generations of people have never worked

Debunked a decade ago but don't let that stop you

Orangesandlemons77 · 26/09/2022 14:51

Back to the budget- is there any way the government could make a U-turn given that it seems voting against it will not happen?

Grumpybutfunny · 26/09/2022 14:54

StJeanDeVence · 26/09/2022 14:47

you have large areas where generations of people have never worked

Debunked a decade ago but don't let that stop you

Come up north! You have generations of it because by definition if they have worked for even a few months they aren't counted in the stats. That's before you even get started on those who work 16 hours and wouldn't dream of a full time job

1245J · 26/09/2022 14:54

No, Govt have got to ride it out.

Rinoachicken · 26/09/2022 14:55

ancientgran · 26/09/2022 10:39

I bet him an JRM have some lovely chats.

Its frightening really. The equivalent of Zelensky planning his next move based on the tactics of the Battle of Hastings.

Rinoachicken · 26/09/2022 14:57

Quote fail - That was meant to be to the the comment reference his HISTORY of economics phd being on William III's attempts to change the currency in 1695.

SerendipityJane · 26/09/2022 14:57

Orangesandlemons77 · 26/09/2022 14:51

Back to the budget- is there any way the government could make a U-turn given that it seems voting against it will not happen?

It's not a budget. No vote needed. Hence no way to U-Turn.

If Truss and her coven U-Turn now, they'd be out before Friday.

If they ride it out they'll be out before Xmas.

BirmaBrite · 26/09/2022 15:03

I keep asking why ? why this 'fiscal event' now ? The economy wasn't in fantastic shape but as someone else said this wasn't an emergency situation either, so what was the rationale behind it ?

CurseOfBigness · 26/09/2022 15:06

SerendipityJane · 26/09/2022 14:57

It's not a budget. No vote needed. Hence no way to U-Turn.

If Truss and her coven U-Turn now, they'd be out before Friday.

If they ride it out they'll be out before Xmas.

“It's not a budget.”

That’s semantics used to get around the need to have an OBR report.

Call it what it is. A budget disguised 🥸 as a mini-budget making big economy-changing decisions pretending not to be a budget (because that requires scrutiny 🧐 under the OBR report).

sóh₂wl̥ · 26/09/2022 15:07

BirmaBrite - my question as well.

WagathaChristieMystery · 26/09/2022 15:08

I don’t have a proper answer @BirmaBrite, but my hunch is they wanted a budget/fiscal event now because it allows them to set out their economic plan for the country and start delivering it ASAP, because we’re not far away from the next planned general election in 2024. Although, as we all know, their plan is not so much a plan as disaster.

ArseInTheCoOpWindow · 26/09/2022 15:10

*I suspect what is actually happening here is that gas and oil supplies are almost running dry, all over the globe, and that suppliers and governments are aware of this and are beginning to panic, as they unable to tell the public the truth - that without oil and gas, millions if not billions of us will simply die as thefood chain collapses.

Consider this - why have they just opened the borders to 3.6million Chinese, and why are they letting in even more in the next two years, especially given we about to experience Great Depression II?given that we are a tiny island with no ability to feed ourselves and no natural resources? Because the only thing standing between our financial system collapsing entirely is the continued inflation of the insane ponzi scheme that is our housing market, that's why. Because in 2008, the housing bubble nearly destroyed the entire monetary system of the west, so we were forced to bail them all out with taxpayers money.

if it blows again now, every single bank in the western world will go under...and this time, we cannot print our way out of trouble - the market just called time on money printing.

Anyone holding cash in Western banks right now is out of their god damned minds.

as the ship begins to sink, the Tories are looting the hold. And being bribed by their petrochemical masters to do so.

and in the new Charter cities, Magna Carta will no longer apply, and once again the ordinary British will be serfs, as they were for 1500 years.

the Black Death taught us this: that overpopulation means slavery.

There are no vacancies - they want you to work as slaves in the Charter cities, for food, or die.

it's the enclosures acts and the Highland Clearances, all.over.again*

Ok

😂

These threads…..

vera99 · 26/09/2022 15:16

Crikey just when you thought it couldn't get worse where the international investors who loan us money think we are a greater risk than Greece or Italy.

Medium-term borrowing costs in Britain have jumped above those in two of the eurozone's weaker members, Italy and Greece.
The yield on the U.K.'s benchmark five-year bond rose to 4.535% Monday, according to Tradeweb. The yield on the same duration notes for Italy and Greece, respectively, stood just below 4%. Yields rise when bond prices fall.

www.wsj.com/livecoverage/stock-market-news-today-09-26-2022/card/u-k-five-year-bond-yields-surpass-italian-and-greek-equivalent-VVr04pcRmuG64dkkk9E9

bellac11 · 26/09/2022 15:17

If I was labour leader I wouldnt run any candidates for the next election, I wouldnt want to be picking up this shit. Make the tories deal with it

the80sweregreat · 26/09/2022 15:18

bellac11 · 26/09/2022 15:17

If I was labour leader I wouldnt run any candidates for the next election, I wouldnt want to be picking up this shit. Make the tories deal with it

Yes! Good points

Kissingfrogs25 · 26/09/2022 15:18

The partying going on when Boris was removed was like no other on here. At the time I said he was in trouble because he had parked his policies in the centre and was even left leaning. I was shouted down that pp would come to see his removal as a defining moment, and whatever was coming next was going to be pure unleashed conservatism.
I tried to point out what was coming, that we have had a very diluted form of conservatism for decades now.

We have to be brave now - there is every chance it will work and pay off, and if it does, everyone will eventually benefit. Major growth, slashing legislation and regulation, attracting the finest minds and shrugging off the bureaucracy to make way for some massively competitively advantageous is what I hope we are about to see. A root and branch approach - of course I will be shouted down by the far left and remoaners but I do see an outline of something that looks pretty god damn amazing if Truss can pull it off. I hope she can. For the sake of your kids you have to hope too.

Tootiredtoogiveatoss · 26/09/2022 15:19

This sums it up nicely!!

Black Monday anyone? The tories should be in jail
vera99 · 26/09/2022 15:21

Kissingfrogs25 · 26/09/2022 15:18

The partying going on when Boris was removed was like no other on here. At the time I said he was in trouble because he had parked his policies in the centre and was even left leaning. I was shouted down that pp would come to see his removal as a defining moment, and whatever was coming next was going to be pure unleashed conservatism.
I tried to point out what was coming, that we have had a very diluted form of conservatism for decades now.

We have to be brave now - there is every chance it will work and pay off, and if it does, everyone will eventually benefit. Major growth, slashing legislation and regulation, attracting the finest minds and shrugging off the bureaucracy to make way for some massively competitively advantageous is what I hope we are about to see. A root and branch approach - of course I will be shouted down by the far left and remoaners but I do see an outline of something that looks pretty god damn amazing if Truss can pull it off. I hope she can. For the sake of your kids you have to hope too.

Can I have some of what you are smoking😁?

Kissingfrogs25 · 26/09/2022 15:21

T** that could be massively competitively advantageous

Kissingfrogs25 · 26/09/2022 15:21

vera99 · 26/09/2022 15:21

Can I have some of what you are smoking😁?

That’s an intelligent comment

Blossomtoes · 26/09/2022 15:24

Kissingfrogs25 · 26/09/2022 15:21

That’s an intelligent comment

In the same intellectual ballpark as yours.

BirmaBrite · 26/09/2022 15:24

@sóh₂wl̥

God he's good, it would be hilarious if he did a Zelensky ! He has more charisma than most politicians, especially Truss, who looks like a hostage whenever she is interviewed, you can see her thinking 'am I saying what they told me to say' everytime she opens her mouth.

Kissingfrogs25 · 26/09/2022 15:25

What sad little unintelligible posts, as that the best you can offer 😴

Notonthestairs · 26/09/2022 15:25

Well the public didn't vote for pure unleashed conservatism, they voted for lefty Johnson.

scaredoff · 26/09/2022 15:26

WagathaChristieMystery · 26/09/2022 15:08

I don’t have a proper answer @BirmaBrite, but my hunch is they wanted a budget/fiscal event now because it allows them to set out their economic plan for the country and start delivering it ASAP, because we’re not far away from the next planned general election in 2024. Although, as we all know, their plan is not so much a plan as disaster.

It's possible they actually think it will work, and want to give it time to do so before the next election. I don't know much about Kwarteng but I get the impression Truss is really not very bright. The way she dealt with questions during the leadership contest was so deaf and superficial - she's like someone who's read the first chapter of Libertarianism For Dummies and is confident that's all there is to it.

Or it's possible they know it won't work, long term, but are hoping it will produce some kind of positive short term outcomes along the way that they'll be able to point to as a reason to "trust them" going into the election. As you can see here so many people are desperate for any excuse to vote tory despite everything that enough of the electorate would probably buy into that.

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