To think the Tories are a threat to everything we've worked for?

[verdantverdure]

House prices are falling.

Monthly mortgage payments on perfectly ordinary houses are going up to £2k or £3k a month. A woman on Question Time last night says if she wants a fixed rate she's looking at a 10% interest rate. (It's likely to be 7.5% on variable when the base rate goes to 6%)

40% has been wiped off pension funds even after the Bank of England stepped in to save them from going bust with £65billion of our money

Energy bills are still about to be about three times what they were in 2021.

£500billion was wiped off share prices so our investments, if we have any aren't worth what they were.

They've devalued the pound to its lowest level ever, and inflation's rampant everything's going up, so if we have savings we'll likely be dipping into them quite a lot even before some of us lose our jobs.

If you've "done everything right" by Conservative Party standards all your life you're about to see it all come crashing down aren't you?

Because of the Conservative Party ideology of reducing taxation and letting the markets decide

Because that ideology is tanking our economy isn't it?

Perhaps the people who think politics has nothing to do with them will realise that politics decides everything from how many hours their Nan waits on a cold floor with a broken hip to how well their children are educated to how much everything costs.

This economic doom loop is going to continue until we get a new government, isn't it?

Yes - they have increased national debt, slashed public services and there has been no or little growth since 2008.

YANBU

They're a disaster. I'm actually frightened by how much damage they've been allowed to get away with.

I’m actually starting to think tanking the economy is deliberate in order to provide justification for slashing the state to the bone. All of the key players in government are extend libertarians and this the their key aim. They’ve vocalised it many times.

Just checked the news, the bank of England is now saying that there is a "material risk to financial stability". Pension funds are begging for the bank to bail them out because the government bonds which are meant to be secure investments are so messed up after the mini budget.

Fuck the Tories.

We have known since 2012 what truss kwarteng et al would do if they ever got their hands on the reins of power. They’ve been hiding in plain sight for at least 10 years. They wrote their own manifesto in 2012, which will have enjoyed a minuscule following - appealing predominantly to disaster capitalists in a position to hoover up devalued assets.

The real issue is, how come our so called democracy enables a prime minister to be chosen by a self selecting group of around 300k. That is extraordinary.

To think the Tories are a threat to everything we haven't worked for (maybe borrowed for) would probably be a better description.

House prices are at the unsustainable level they are because the Tories ramped them for 10 years.

We borrowed a shedload of cash to get through covid, which came in at a point where May/Hammond had just about managed to get the deficit down to zero (note deficit we didn't actually do anything about the debt) after the great financial crash.

So now, in Liams Bynes words there is no money left, or at least the markets won't let us borrow much more. So two options, either stop spending or tax the middle class until the pips squeak (you can't tax the upper class because they will just avoid it and the lower class have no money).

The economic trajectory for the next government be it Tory or Labour is pretty much set and has been for some time. There is a magic money tree, but there is no magic wealth tree. During the 2010s we had the opportunity through QE to spread the cost of the great financial crash of 2007/2008 through the decade.

Instead we decided to pump asset bubbles like housing even higher - rather than deflating the credit bubble we re-inflated it. Now cheap money has come to an end it's all about to go pop again.

Gary Stephenson in the short video I will post below explains there are 3 options to address the current crisis, give the poor even less money (awful), make the middle class pay more (not good), print money (which ends up going to the richest and inflation increases so middle class effectively paying more) or tax the rich. Remember the rich have been making huge amounts under covid where they weren’t spending and then could buy even more assets. The problem is the Tories will only protect the interests of the rich.

Gary is an economist and former interest trader who realises our economy is hurting most people by all the wealth going to the richest. He does videos to explain the basics.

I am too. Genuinely worried about the financial damage and the "relaxation" of planning law and environmental protections in investment zones and free ports. Not to be a drama Queen but I feel like our country is being sold down the river. To whom and for what I can't tell, but I know that the destruction and damage is real, even if we don't fully understand what's going on yet.

That news is what prompted me to post on this thread again.

What the bloody hell are they playing at?

And how much longer do we have to put up with it?

How's your pension/house value/investments value/mortgage rate/chances of moving/getting on the housing ladder looking?