Is Jacob Rees-Mogg actually on glue?

[Haffiana]

Jacob Rees-Mogg is now claiming that the current economic meltdown is not at all caused by the recent mini budget. Oh no. He blames 'interest rates' and er, 'global factors' and the Bank of England obvs. Oh, and the BBC for daring to ask him questions.

Even given the IQ of the shit show that is the current Conservative Government, who on Earth thought it was a good idea to wheel out this farcical, deluded, mad fucker?

I thought they had firmly sealed Rees-Mogg into a box after his last outburst when he blamed the Grenfell Tower victims for dying because they were stupid. It seems they have let him out.

www.bbc.co.uk/news/av/uk-politics-63228024

I wish I thought of it but I didn’t. He’s occasionally called the haunted catheter because he’s taking the piss.

Almost impossible for them not to given the extent to which our Government has trashed our economy in a matter if weeks. It would have to grow hugely just to get back to its benchmark against those economies only months ago, before making any improvement on where we should and could have been with competent management.

Hardly accolade of the century is it? "We utterly trashed it all and have now (maybe) repair some of our vandalism so it's nearly as good as when we took office".

And that's a best case scenario which, frankly, seems unlikely.

Especially as that's not what the IMF said.

One month and one week ago...

Since then our national bank has been forced to intervene three times to protect the citizens of this country from the actions of our government.

What does "Conservative" mean by the way? Burn it all to the ground and dance on the ashes?

Is Jacob Rees Mogg actually on glue?

No.

He's a liar.

Well, this is what you get when you summon a Victorian ghost from the Tory heydays. Poor thing doesn't understand that he's 150 years out of step, all he cares about is having lots of children with poncey names in the nursery, lots of miserable estates where he can command servants to draw him a bath and prepare the horses, and lots of money gained by crushing the serfs who aren't as important as him. Whoever conjured him up should just send him back, it's cruel. Like keeping a chicken in a paddling pool

Beyond the jokey sarcasm lies a deep and profound fear that these criminal jokers with their combination of first Brexit, then doubling down with Johnson and now Truss have destroyed whatever reputation we have had on governance, integrity and respect in the international world.

Yes, things are bad everywhere Covid, the end of globalisation, the Ukraine war and quantitative tightening have changed the headwinds but this clown cabal has focused markets and their "players" to regard the UK as a leading basketcase "submerging" economy and encouraged a pile on to profit from the consequential mess.

I hope these Tories now muttering that they need to bring down the government in the national interest follow through. Any fightback starts with wiping them electorally from the face of the earth.

JRM is a creep but so are some members in the opposition. Like their equivalents. KS 5 minutes of popularity may fade very quickly. They have not plans or answers how to solve the problems the global economies are facing. This crucial point always becomes clearer in the elections campaign. I personally would prefer a new option as these two parties are a mess.

Checking the forecast of properties prices risk. London is not even in the first ten worse cities. Toronto and Frankfurt are leading the top two places. The dollar is very strong and currencies are struggling with this at the moment.

@waffless when it comes to a choice between the party that has recently and glaringly crashed the UK economy and the party that ... well, hasn't, the choice is pretty easy. Unless you're thick. And of course Labour has policies and plans. There's just not a lot of point putting them out there now because there isn't a GE in sight. and because the Tories have form for nicking other people's ideas.

I have only voted Labour once in the 50-odd years I’ve been able to vote (I’ve never voted Conservative, though). I wasn’t impressed by them over the pandemic when I did not think they did enough to hold the government to account, and I think that some of their stance on identity politics worrying.

However to claim Labour have no plans or policies with regard to the economy and the energy crisis is untrue, and must come from a fingers in ears tendency. Quite apart from a party conference that laid out much of the direction of travel, I hear increasingly convincing and costed plans being described by Shadow Ministers on the news programmes more or less every day.

I also hear disingenuous nonsense being promulgated by Rees Mogg and his ilk, and desperation in the voices of more sensible and responsible Conservatives.

I am very heartened by your quiet and thoughtful conditional support for Labour. Sir Keir has proved able to weather the internal storms over his leadership and is a decent, highly intelligent honourable man who wants to do his best and the team around him to try and get the UK in a better place given the almighty mess they are going to inherit. Anyone who can seriously consider voting Tory after what they have done really needs to do a head wobble. This is a great country and hopefully, with decent leadership and direction of travel, we can be Great Britain again rather than the disUnited Kingdom we have become and carry the mass of the people along with that. Well, that's the hope we all need to have that!

What part of the economy has crashed?

@RedAppleGirl The £. Pension funds (many would have crashed had the BoE not intervened, and that was solely down to Truss). Mortgage lending (40% of available deals pulled after the mini budget, leaving thousands of people unable to get mortgages at affordable rates, or at all). I know you're a big Tory fangirl, but how much more incompetence do you need to see before you admit that your chosen party is actually pretty shit at running a national economy? And I haven't even started about the idea of not uprating benefits in line with inflation, which will put thousands of families into poverty - but Tories don't care about poor people.

So if we have an election what happens next?
Taking the global events into account.
Tbh who is or isn't in power makes no difference to me and my circumstances. I'm not a Tory fangirl, especially the neoliberal types of corp before family. I'm more traditional in my outlook, so actually have NO parties to vote for.
There is a lifetime fixed rate mortgage of 4% and there are still rates at 2.74%, I think historical rates tend to run to 5-6%.
I work in the sourcing of commodities and materials for a global manufacturer. I think the economy is a little more complex than the rrp of fish fingers increasing by 30p.

@RedAppleGirl the economy is indeed a complex beast, but I would like to see a party in power that runs it in the interest of all the people in the UK, not just the very wealthy ones. The Tories are borrowing to fund tax cuts that will not help those who have the least. Borrowing will undoubtedly be necessary, but I would like to see it directed to those who need the most help. Every country in the world has the current situation to deal with, but the choices their governments make matter. I do not trust the Tories to make choices in any but their own interests. They are not necessarily the party of economic competence despite what people have been led to believe

Ultimately we need PR.

The markets basically want to know, how the government intends to pay for the energy-price cap and all the money created during the pandemic. The markets don't give a shiny two-piece suit about UC claimants or mortgage rates.

@RedAppleGirl if that is all it is then why did the mini budget cause such immense market consternation? Because the pandemic money had been known about for over a year and the energy price cap money was also a known issue at that point. So what was it in the mini budget that caused the panic?

And it's all very well to say that 'the markets don't care', but other countries are managing to keep the markets satisfied whilst also looking after their populations. It's pathetic that the UK isn't able to do that.

Lastly, when you say 'traditional' in terms of your politics, what does that actually mean? Because lots of things used to be 'traditional'. Doesn't mean they were in any way worth hanging on to.

Well according to the vote 90% think he is on the glue. I think that is a positive step in the right direction and I'll take his cue to call him 'Tory scum'.

Politics aside I did like his put down of David Dimbleby on Question time some years ago.

was that when Mogg pointed out Dimbles had sent his son to Eton?

Yes, it was touche as they say.

What part of the economy has crashed?

A better question would be “Which part hasn’t”.

mrwalkensir
Mogg wanted Brexit as the EU were clamping down on offshore tax-wangles

Full Fact
Claim Brexit is about concealing offshore accounts is baseless

fullfact.org/online/brexit-not-concealing-offshore-accounts/

BBC Brexit: Claims about EU tax rules fact-checked

www.bbc.co.uk/news/50168357

The Conservatives are just over - busy fighting amongst themselves, and the press know a good story when they see it. They will keep pressing this button of "incompetence Truss" until it wears out.

Truss doesn't have majority of her own MPs, one month in. JRM is a useful hand puppet but they are done. They are too slow and too stupid to manage this, and once people feel this in their mortgages they've alienated their natural voters and all the 2019 voters.

She's so screwed now as the markers are pricing in her u turns before they are announced. So her "budget" is unraveling today, tomorrow and Monday.

vera99
Corruption in plain sight
Dominic Johnson [Jacob Rees-Mogg's long-time business partner] -
former Tory party vice-chairman and donor has been made a peer and appointed a minister in the Cabinet Office as well as for the Department for International Trade.

So, the former vice-chairman of the Conservative Party (2016 - 2019) has been made a peer and given a role in government and that's corruption? How come
the former general secretary of Unite the Union was allowed to accept a peerage from Jeremy Corbyn when Unite are major donors to the Labour Party?

Somerset Capital's recent performance is hardly a resounding recommendation. Somerset Capital funds have performed badly this year, following on from a poor Covid-impacted 2021 and 2022.

Nomura tanked recently (Nomura Tumbles Most in Three Months After 97% Profit Drop) but you've posted their analysis on the pound up thread. Why should we view Nomura's analysis as gospel?

www.bloomberg.com/news/articles/2022-08-04/nomura-shares-tumble-most-in-three-months-after-97-profit-drop?leadSource=uverify%20wall