Starmer's refusal to go is plunging the economy into a crisis

[WesStreetingForPM]

It seems the markets are VERY spooked by Keir Starmer's refusal to resign.

The bonds yields are now performing worse than they were under Liz Truss and the interest rate on government borrowing is apparently the highest since the financial crisis in 2008.

Both of these point to economic disaster.

Starmer is risking the economy so he can stay in power for a few more days!

We're going to see higher mortgage rates, higher taxes and even less growth.

All because the Labour Party can’t sort out its leadership problems.

Unfortunately (or fortunately actually) in the real world the bond market runs the show, you can plot a graph for every Trump U-Turn with the spikes in the "Ten Year Yield", approaching or breaking 5% is the moment of U-Turn.

@WesStreetingForPM I genuinely think you are shilling for Streeting and are on the payroll. This is the 2nd thread you've started today and you know an awful lot about the ins and outs of the bond market, which is something most ordinary posters aren't heavily invested in as a topic of interest.

Sorry, OP, I'm calling you out. You're not genuine and you've been tasked with doing what you can to destabilise and ensure Starmer's resignation, so Wes doesn't have to challenge him first.

He doesn"t communicate to a wider audience, i.e the UK, standing in a circle clapping like a seal with party lackeys doesn"t make a strong leader, babbling about "diversity" when voters are shouting that they don"t like the direction the country has taken due to mass immigration shows all the political nous of a young child. KB and Farage are like scene stealing actors, you can"t not be focussed on them, with KS your mind drifts to the shopping list or just drifting off to sleep.

Doesn"t matter who it is, they are finished, AB doesn"t believe in bond markets, maybe he will tell the market not to push up UK mortgage rates? If it is AR that will be dark comedy on another level and an economic crisis for sure, a good bond market crisis is long overdue, I"m off to top up the money market funds, savers have been screwed over for far too long with all the bail outs for debtors.

No it isn’t. It’s just the right wing media and other agitators trying to destabilise the country again.

This.

The article you have quoted literally says the opposite.

Also, the instability is being caused by the agitators like Streeting, West etc. They have put personal feelings and ambition over the good of the country. Dreadful, unserious, people.

Where do I start?

He's competent - look at what he's done for the NHS.

He's a member of the LGBTQIA+ community - representation matters.

He grew up on a council estate - he is inspirational.

Do you seriously think Streeting's staff would be on Mumsnet at this time?

Why is it impossible to believe that someone finds an extremely competent and relatable man would be a perfect fit for PM.

I've said there are loads of other candidates I like - but Wes, for me, is the best.

imagine Trump dealing with Wes 🤣

How many threads are you starting today? It’s feeling like Déjà vu in here

Genuinely, how do you have the time ? Most people on Mumsnet actually have a life. They’re really not that invested in who is next PM…

Knowing that the "Ten Year Yield" runs your mortgage rate isn"t knowing "an awful lot about the ins and outs of the bond market," LOL, but the scary thing is the number of people with big mortgage debt who don"t even know what the TYY is!

A lot of the threads seem to indicate lots of people are invested in far less important things than that? The next PM is likely going to be Farage, whoever replaces KS in the Labour clown show will either head that off (unlikely) or massively speed up the process.

The markets should be spooked. If Labour go down the same road as the Tories, changing PM every 5 minutes, it will be the end of the Union.

England will be alone.

I'd like a good economy, a fair society and support for gay veterans.

That's why I'm invested.

Why aren't you? Do you not care about the future?

Oh god. Not Wes Streeting. Do you want him in because you know he’ll take a bribe?

I’d quite like Kier to stay in and not have this new pm every 5 minutes thing like we had after Boris. He was elected leader and then elected. Short of being in the Epstein files or committing treason I think he should stay. And the reason people want him out is just giving in the the opposition with less scruples. Farage has done so much more wrong than Starmer yet a proportion of the electorate would rather lick his a*hole than admit it to themselves.

This long drawn out saga of the Labour Party to maybe change one PM is just as bad as the quick turnover of the Tory PMs. Probably worse.

The fear of Starmer staying? But that is less likely than it was last week? So why would markets react badly now if Starmer staying was what they were scared of?

They're reacting badly because they know it's over for Starmer - but can't understand why he won't leave.

The country needs to rally behind one person to ensure the markets become stable.

That person has to be Wes.

I've got the perfect slogan for him

I'm with Wes. Are you?

Or maybe just:

"We're With Wes"

@WesStreetingForPM The “country” has nothing whatever to do with it ! It’s self inflicted turmoil! They are sticking the knife in and ruining the economy. What us voters do or think is besides the point. Maybe gen up a bit on how these things work. Look at Truss and her Economics for a start. Her ideas to boost the economy were not awful but how she went about it spooked the markets. Labour are doing exactly the same because the chancellor will be out too. What good is it to anyone to have a protracted time with no leader? The back biting and lack of cohesion is the issue and the dysfunctional government brought about by being scared of the polls.

If Wes Streeting is PM I would be OK with Rachel Reeves staying on as Chancellor

It’s the leader changing that’s causing the instability.

It's now the leader STAYING that's causing the instability. The markets have totally given up on Starmer, sadly.

The markets are crying out for a stability leader.

And NOW.

Not in three months.

Realistically there can only be one person who meets the criteria.

In fact we are EXTREMELY lucky we have someone oven ready to come in and fix things.