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.

I'd say 30 more years of decentish living standards (we are already below South Korea and Japan in living standards) and then long term irreversible decline

oh no! Below South Korea and Japan in living standards 😱

They are homogeneous societies that take education seriously and don’t even attempt to take care of their underclasses. UK can never be like it 😆

Long term planning - my kids are learning Mandarin and have been told with certainty that if they want a good life they're best off working in Asia

As a PP pointed out, they are ruthless with immigrant labour. Once you are no longer useful, you will be sent back. Disputes are almost never solved to an immigrant worker’s benefit.

Mandarin is a great language to learn, but working in East Asia is not straightforward and won’t necessarily get you ahead. And whilst I used to think they would pull ahead of ‘the West’ I’m not so sure these days.

Asia is not in a good place right now.

Vera you are on here every single day banging the Labour drum. You completely miss the point.
People don’t TRUST Labour
They do not see Starner and Raynor as PM material
I have no doubt they will prioritise nationalising everything that moves again and we will be in
even more debt!!

China and Asia are also heading into negative territory. They are not immune.
Chinas housing and local banking sectors are on the verge of total meltdown. How do you not know this?

I am
Beyond glad I live in scotland. The tories are a despicable disgrace, but I couldn't vote for starmer et al.

I'm not quite sure where this narrative of Labour creates debt comes from. A look at the data since WW2 proves that:
First, Labour invariably borrows less than the Conservatives. The data always shows that.
And second, Labour has always repaid debt more often than the Conservatives, and has always repaid more debt, on average.

They are going to win by a mixture of conviction, default and the consequences of the complete shitshow the Tories after 12 years have left us with. I want PR and a progressive coalition tbh so that the Tories, particularly this rump can be nuked forever more. That said I have voted Labour in every election since 1979 failing a period as a trot at University and helping found the Anti-Nazi League Surrey student branch way back I had to work for a living and moved to the centre. Times are bad for sure but one thing I can be utterly certain about is the Tories are not the ones to try and get us out of this huge hole they have got us into.

At the next election, it's very easy tactically vote in each constituency for the candidate that is most likely to unseat the Tory, that way the LibDemd can get a better result than they normally get and hopefully have a role to play in a progressive government.

People don’t TRUST Labour

Exactly!

Black Monday - Thatcher
Black Wednesday – Major
Latest Black Monday – Truss
The Tories just can’t be trusted with the country’s finances. They’re fiscally inept.

I believe it comes from the Daily Mail.

Apparently Truss' nickname is now "Daggers". Londoners may get it ...

The Daily Mail - the paper that backed Hitler. Not really sure I want to associate with them.

Dagenham: 2 stops from Barking

I also read Margarine Thatcher, which made me smile. Because the Tory party can't believe she's not better.

Two stops past Barking. 😂

errr...

Steven Swinford
EXCLUSIVE
Labour has a 17 point lead over the Tories, Yougov poll for The Times finds
It's the biggest lead since Yougov started polling in 2001
Six in 10 voters think Kwarteng's budget was unfair - the worst rating of any fiscal event since 2010

www.thetimes.co.uk/article/tories-fear-a-world-of-pain-if-housing-market-crashes-9x8shgvpd

A “small but growing” number of MPs have submitted letters of no confidence to Sir Graham Brady, the chairman of the 1922 Committee.
One former minister said: “The moment it becomes serious is when mortgage rates go up for homeowners. That’s a Rubicon-crossing moment. And if it happens before conference then it’ll dominate and you can’t predict how the party will respond. Her leadership was on an unstable platform and it’s becoming more unstable.”
One Tory strategist said that MPs were in a state of “deep unease” at how quickly the budget had unravelled, adding: “The general view when Liz won was, ‘We’ve got to make this work’. That has changed over the weekend. It’s now, ‘What do we do? This is a shit show.”

The current Labour Party is about as socialist as John Major’s government was. Socialism died with Blair.

Why did we want to 'take back control' from the EU (when actually we hadn't ceded control at all) yet we are happy that key parts of our infrastructure are in private hands where we have absolutely no control?

There's a glaring disconnect.

Personally I think we have bigger things to focus on than renationalising but at least if we did invest in that we'd be able to control much more and any debt would buy assets not just line the pockets of the rich & business.

All fully costed (unlike the government’s), not paid for with borrowed money and announced at the conference currently underway. Next fatuous arguement?

FWIW There’s broad public support for renationalising water and rail, natural monopolies that should never have been privatised in the first place.

The Tory bots so miss "Comrade" Corbyn and Brexit "Will of the People" levers they used to pull with such gusto and Hyacinth Bucket smacking of the lips. Now it's just disconnected phrases shorn of all context and meaning.

Paraphrasing David Steele's famous phrase (rather carelessly he lost) Tories go back to your constituencies and prepare for total defeat.

Truss's Coronation Conference next week is going to be fun I hope she doesn't catch a cough.😁

The last Labour governments we had here in the UK bankrupted us twice.

I think that says more about your personal money management abilities than the abilities of Labour government tbh.

Because you can surely only mean you personally went bankrupt twice. You couldn't possibly be arguing that the UK went bankrupt twice because a) it didn't, and b) that would be saying I'm as thick as two short planks without actually saying you're as thick as two short planks.

Will be impossible not to borrow money...no investment is no growth. But refusing to invest in public services and infrastructure when rates where at their cheapest, then borrowing at obscene levels when rates at highest in order to finance tax cuts for the richest... It's politically insane.

Your political trajectory is like mine , Vera99. I was an old ANL trot too. And very suspicious of the EU or EEC as it was then called.

I canvassed for Labour in 83 and 87 and stayed up all night watching the blood run down the screens. A typical result would be :
Conservative 31, 000 , Labour 28, 000 , Liberal Alliance 26, 000. Thatcher got stonking majorities with 4 out of 10 votes.

Short of PR being introduced we would have to cooperate with other parties. But my fellow trade Unionists and party members were unconvinced back then. I remember being completely blanked when I raised it a meeting.

Likewise a bit of travel changed my views on the EU completely. Mrs T was a good teacher in retrospect. All it took was 18 years of corruption and futility. Hope its quicker this time.

Ps We have PR by Single Transferable Vote in Ireland. The constituency link is strong. It's not a magic bullet. But you can't become World King on 30% of the electorate either. Crank religious or anti immigration candidates do stand of course but , so far , none has got elected or anywhere near. If people know their vote isn't wasted they are less likely to go to extremes I guess

The last Labour governments we had here in the UK bankrupted us twice

When? I’m assuming you’re referring to 2008 when there was a global financial crisis? Here’s some news for you, our national debt was lower then than it is now - and that’s before Truss borrows some more at insanely high rates.

It'd be hilarious seeing free market disciples like Truss and Kwartend discover how much the markets hate them it it weren't for the fact we all have to suffer along with them.

And Chancellor is Kamikwarteng.