Monday, 05 September 2022
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With a new Prime Minister to be announced today (Mon 5th Sept 2022), we’ll start a fresh thread for all the discussion, and also use this one for any other Westminster/Politics related stuff going forward.

The old thread is now locked as Boris and his Government are replaced.

If you are quoting from a website, please add a link to back it up. (Click on ‘Links’ below the text box and you should be able to post them in the little box, we’ve added one to this post as an example!) - Posts without a link to back up the discussion may be removed.

Thanks.

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2 months ago
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#316855
Now $1.075 but the media don’t think that’s news.We live in a world where sensationalism sells


Dead cat bounce?
Laffy, your paper of choice The Telegraph describe it as a "dire outlook" - sensationalism I assume, but hey, you know best.
2 months ago
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#316857
Again, when did I single out the Telegraph-they are all selling drama.
2 months ago
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#316858
Sterling's collapse is worrying a lot of people. The Post Office, admittedly a terrible place to change money, now offers just $400 for £400. The man in the street can literally see how much the pound has fallen. This will lead to inflation and the Bank of England will have to take some action by raising interest rates. Apparently mortgage companies are swamped by people trying to take out new fixed rate mortgages before rates go up.

This short piece by Larry Elliott in the Guardian is pretty good.
2 months ago
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#316859
Not a bad article but I would say things need to calm down-all currencies are weak against the dollar
2 months ago
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#316863
Did anyone see the Chancellor gibbering on yesterday morning in his interview with Laura Kunnsberg.

It's got to be very worrying if he's the man in charge. :o
2 months ago
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#316865
I would gibber in front of her-Starmer struggled yesterday too, trying to avoid answering the question.Seems to be a common trait with politicians
All well and good saying that the Euro is also struggling. The inherent problem there is that Sterling isn’t in a strong position when measured against the Euro!
2 months ago
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#316879
Every major currency is off against the dollar-and our national debt position is strong compared to others.Markets sense blood of course.
2 months ago
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#316880
I would gibber in front of her-Starmer struggled yesterday too, trying to avoid answering the question.Seems to be a common trait with politicians


At least Sunak gave the impression he knew what he was doing! :D
2 months ago
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#316884
To put things in perspective, Greek and Italian debt is cheaper than the U.K.-a total joke
2 months ago
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#316885
It wouldn’t surprise me if Dizzy Lizzy has gone within the next 12 months They are unlikely to get a bounce in the poles because her economic plans has gone down like a “bucket of sick” to the majority of fair minded people (I count Laffy not in that category) about 150 Tories MPs who will loose their seats know this too !!!
2 months ago
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#316887
I find it extraordinary that Labour are portraying themselves as the party of sound finance and balancing the books-some people have very short memories.

Gary Neville now put forward as the face of Labour responsibility ahem Salford!

Global pandemic and global inflation-yet it’s the naughty Tories.

Oh and the pound went UP today in case you missed it
2 months ago
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#316889
I find it extraordinary that Labour are portraying themselves as the party of sound finance and balancing the books-some people have very short memories.As compared to George Osborne who borrowed more than every Labour chancellor, ever, combined

Gary Neville now put forward as the face of Labour responsibility ahem Salford! Yes, he can afford to buy and fund a football club, he has enough money for that.

Global pandemic and global inflation-yet it’s the naughty Tories. If the Tories don't have the ability to control anything, then what are they worth?

Oh and the pound went UP today in case you missed it Not against the euro it didn't
It ‘peaked’ at $1.07 - I’m not sure there’s much to celebrate there.

Even against the ruble the picture isn’t clever. 73 rubles to the pound last week, 62 today.




So far this year sterling has fallen around 20% against the dollar and 7% against the euro. We’re down against other currencies too, of course.

I’m confused by the reactions of some - one minute a weak pound is a good thing somehow, but the next they’re pointing out minor rebounds as if if they’re a positive thing.
2 months ago
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#316891
Every major currency is off against the dollar-and our national debt position is strong compared to others.Markets sense blood of course.



Proves what a great job Joe Biden is doing for The US he doesn’t believe in “trickle down economics “ either
2 months ago
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#316892
Why Laffy do you moan when any responsibility for the effects of Covid or inflation are put onto the tories but you never cease putting full responsibility for the financial crash onto Labour. They were all global problems.
2 months ago
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#316893
I’m confused by the reactions of some - one minute a weak pound is a good thing somehow, but the next they’re pointing out minor rebounds as if if they’re a positive thing.



True hence Chris Philp, Chief Secretary to the Treasury was smugly tweeting at the beginning of Kwartengs statement that sterling was going up. Great say the Tories, Sterling then plunges. Great say the Tories.

Laffy makes pro Tory point with link from media to validate it and make it true, someone else posts link to alternative view in same media and suddenly it’s not validated it’s media sensationalism!
2 months ago
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#316902
She might be gone by Christmas

Liz Truss: Tory MPs sending no-confidence letters over fears she will ‘crash the economy’, says ex-minister

‘Liz is [censored]**’, says former minister in Boris Johnson government
She might be gone by Christmas

Liz Truss: Tory MPs sending no-confidence letters over fears she will ‘crash the economy’, says ex-minister

‘Liz is [censored]**’, says former minister in Boris Johnson government


Surely not. One or two letters from red wall MPs perhaps, but not a significant amount.
2 months ago
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#316907
I’m expecting shock and awe in next few days

God she’s wonderful


You got that right.

Definitely shock and probable awe (shit).
2 months ago
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#316908
I’m quietly confident Truss will see this through and I don’t think we should be taking economic advice from the Ginger Growler-that would not be in the country’s interest.

Truss needs to get on the front foot and make the valid point that we are one of the world’s largest economies, have one of the lowest debt ratios, yet the market thinks our debt cost should be higher than Greece and Italy.We are not a basket case and I doubt the cancelling of the 45pc tax rate is enough to cause it.

Meanwhile, the fall in gas and oil prices should help a lot.

On the pound, a weaker currency is no bad thing if you want to help exports.That goal is something I would want as we are too reliant on imports and have been for many years, including cheap labour.

Vogel-the crash was a global thing, but it was exacerbated by lax regulation encouraged by Brown-he did say no more boom and bust under his watch.
2 months ago
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#316910
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