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.

@Kissingfrogs25 have you ever read Sir Michael Take CBE on Twitter?

Many Brits seem to basically be deluded about the country and its trajectory.

My view is that they tend to be largely insulated from the economy (think retired, no mortgage, no job, gold plated pension), so they make the classic mistake of projecting their own circumstances onto the wider country.

I have met these types via my corporate job and nothing short of nuclear winter will change their minds.

Thats why this is all likely to get much worse.

Moreover we are just about to see the real Elizabeth Truss, she is not some shy, meek and reticent rubbish communicator that is being swept along by events/the party anyone that has met her knows she is fearless, very well read and has had years to refine her game plan.

Margaret Thatcher will be child’s play in comparison - not so much as an iron fist in a velvet glove as an iron fist holding a red hot poker. She is deadly serious, totally unafraid. If this hasn’t given you a taste of what Is to come, I don’t know what will. The woman isn’t god turning she is not even taking any notice of the electorate - she knows exactly what she is doing and in the short term there will be pain - get used to it. The medium to long term is where she is at mark my words.

**For turning

I had a bet going with DP that the next PM would be gone by February 2023, whether it was Rishi or Liz. There is no way of winning in our current circumstances.

Is changing PM going to make a difference though? We need a change of government.

😂I was "Taken" in for my first few tweets. That said John Redwood the blue tick account is equally ludicrous.

Little known fact kissingfrogs25 and myself are both tags teams for Conservative Central Office - she does the high ground, blue skies straight up stuff and my job is ape some vile Momentum leftie type to discourage the cause.

Exactly, we had years of austerity and service cuts in order to bring down the deficit under a Tory government. They have failed this objective quite badly.

Other social measures also show a similar story - life expectancy is stagnating and even going backwards in places, increased homelessness, reliance on food banks. Failure in a lot of measures really when you think about it, including public opinion now.

Pretty good at creating chaos and then not really doing much about it though. We can give them that.

I think it's quite funny really, people had a laissez faire PM in Johnson but he had to be hounded out for rules and cake.

Well you got a proper Conservative Government now, all those of you that were so angry about cake, you can eat this one.

"The woman isn’t god turning she is not even taking any notice of the electorate - she knows exactly what she is doing and in the short term there will be pain - get used to it. "

You are quite right. She's isn't listening to anyone but the ERG and there will be pain.

Conservative MPs will be listening to their constituents however and I'm guessing they will have to say a lot more than "get used to pain".

But no one believes that, what happens when it doesn't? borrow some more?

Economies shouldn't be run on hope or on a bet, though of course should this gamble fail, KK and Truss will sail off to the HoL and the after dinner speech circuit and make even more more money.

There are sound ways to grow an economy but in a recession, war in Europe and with super hi gas prices, borrowing to cut taxes and to subsidise energy prices for all, with no targeted help is reckless.

All our major competitors are forecast to go into recession, the UK cannot buck that trend and be the country that booms.

We should have taxed energy companies, given targeted help, rewarding energy conservation & invested in science and technology, with incentives for private business wishing to invest too...

Business or CBi were not calling for huge tax cuts.

That should be Labour's next party political broadcast. With Cold War Steve posters on billboards.

The disgusting sexism on here is so evident - typical of Labour haters of women or can they even call us women yet? You know that invisible lot, and now we have another one running the country.

Just because Truss is blonde and didn’t benefit from public school debates as a child does not mean she isn’t a political and intellectual heavy weight. She has to her credit played this to her advantage- I am sure many were thinking how bad can it be. Another Theresa May in the offing. Anyone but Johnson we relentlessly heard. Just shows how misconceptions can be used to play a blinding advantage until Truss finds the balls the others failed to locate and gets the big guns out to save the economy and country and brings conservatism roaring back!
Now we here the squeaks of indignation and shock on here. So bloody predictable.

And/ or refused cabinet by truss and some of them refused offers of jobs under her.

What are you talking about?

My view is that they tend to be largely insulated from the economy (think retired, no mortgage, no job, gold plated pension), so they make the classic mistake of projecting their own circumstances onto the wider country.

BambinaJAS I've been looking at a lot of demographic stuff lately - and there is this suggestion that the increasing large aging demographic who have benefit from previous conditions will have this sort of effect.

There's also concerns that aging population will mean less economic growth and stalling economies.

I do think in UK state of NHS - mainly waiting list - is big issue for that demographic - so unless they bring that round or blame someone else I still think Truss won't play well.

This a comedy gold word salad.

It's not sexim to not like Truss, I didn't like Johnson either.

You seem to be buying into - or maybe just parrotting - the dominant media line that this is somehow a new thing. It isn't, despite the Tories' shamelessness in setting themselves up to bravely turn the page on failed economic policies, hoping that people won't notice that the policies were their own.

"Major growth" was what was supposed to happen after 2010 when the top rate of income tax was reduced from 50 to 45% and corporation tax slashed. It didn't - in actual fact growth had already returned in the last year of the Brown Labour government and was immediately choked off by austerity. "Slashing legislation and regulation" is what the Tories have always done, for example by deregulating the gig economy and hobbling trade unions with more restrictive laws against strikes. (I'm not sure how you think "everyone" will benefit when legislation and regulations are not just there because somebody wanted something to do; they're there to protect people - whether workers, customers of a product or service or whatever.)

Is there a reason why you believe this will all suddenly start working after 12 years of failure?

This a comedy gold word salad

Isn’t it just!😂

We have to be brave now - there is every chance it will work and pay off, and if it does, everyone will eventually benefit.

Really @Kissingfrogs25 ? Who says? Because so far it seems to be just the government who think this. No sensible economists seem to agree.

someone needs to reboots the bot, it seems to be malfunctioning.

All the conservatives were booted in 2019. This is an ERG government . Johnson talked about levelling up. Talk is cheap.

But where will the Dead Wall voters go now they know they have been stiffed? Mandelson said they'd stay with Labour , having ' nowhere else to go'. He was wrong , they went to the far right.

Well said @scaredoff

Is there a reason why you believe this will all suddenly start working after 12 years of failure?

You know what they say about doing the same thing over and over again, and expecting a different result…