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.

Admin.
2 months ago
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#316963
she is as thick as a boxing day turd-sunak told her this would happen.
Never voted Labour in my life, however surely we would be better off with a poor Labour government than the current shower.
2 months ago
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#317003
Laffy

Do you fallow PensionCraft on YouTube Ramin was an investment banker and business strategist

His latest video “UK economic crisis what next” I think is a balanced view !!!
The IMF talking to us like they talk to third world countries.

https://www.bbc.co.uk/news/business-63051702

Stay this madness!
2 months ago
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#317015
I rather liked the Ramin presentation Taffy-I think he got all the points across and I agree with him.

The issue at the end is the inequality point-the government has to continue addressing this by whatever means.
2 months ago
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#317036
I rather liked the Ramin presentation Taffy-I think he got all the points across and I agree with him.

The issue at the end is the inequality point-the government has to continue addressing this by whatever means.


I’ve watched him for a couple of years now he gives a balanced view about how markets work
2 months ago
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#317041
We are rapidly becoming a third world country, so the IMF we’re not totally out of order.
It’s very worrying how much more damage this Govt can do in the next two years, it’s only taken three weeks for Truss and her cabinet to completely cock it up on every front.
They are not fit to Govern.
2 months ago
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#317042
We are rapidly becoming a third world country, so the IMF we’re not totally out of order.
It’s very worrying how much more damage this Govt can do in the next two years, it’s only taken three weeks for Truss and her cabinet to completely cock it up on every front.
They are not fit to Govern.


How so?
2 months ago
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#317043
Our pensions are going through the floor just so these knobs can feather their nests !!!
2 months ago
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#317044
I rather liked the Ramin presentation Taffy-I think he got all the points across and I agree with him.

The issue at the end is the inequality point-the government has to continue addressing this by whatever means.


He is very clear and concise, surprised you agreed with him though as his view seems quite different to my understanding of yours. Public finances could definitely do without another spike in energy prices, the unlimited liabilities of Lloyds in the 90’s created enormous personal carnage and a short on this scale could get messy.
2 months ago
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#317045
Is Truss a Russian agent?
2 months ago
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#317046
Pound up ,10 year money down

Bank intervenes-good move
Pound up ,10 year money down

Bank intervenes-good move


The pound has risen as a result of the BoE intervention, not as a result of government policy.

Would that intervention have been necessary without the ‘mini budget’?
2 months ago
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#317049
We will never know-this has been brewing for a while.

Anyway-why do people rob banks?Because that’s where the money is
2 months ago
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#317051
Laffys too psychologically invested in his position to ever say it's the cluster [censored] that it truly truly is. The adult Tories have all left the building, and the kids who are left are having a party
2 months ago
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#317052
It’s a cluster [censored] alright-and this report highlights it.It’s a long read but you can see where the seeds were sown.Too much loose cash at zero cost

https://www.hussmanfunds.com/comment/mc220925/
2 months ago
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#317053
Where's Truss and here mate ?
Hide and seek champions 2022
2 months ago
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#317055
Following on from banks refusing to give mortgages, the market has so little faith in the economic future of Britain the long term bond market has reduced to no value. The bank of England has now stepped in and is buying long term government debt. Having stolen everything of financial value they have now reduced the future to worthless
2 months ago
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#317060
Blind panic-not a great trait
2 months ago
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#317061
Does this mean the Bank of England will own the government?

Or is it the equivalent of EWM taking on the club debt?
Where's Truss and here mate ?
Hide and seek champions 2022


After 4 days hiding in Boris’s fridge she has bravely faced the nation by doing 5 minute interviews on various BBC local radio stations. She is beyond hopeless.
2 months ago
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#317070
No. the BoE issues debt so in money terms they have just paid off some debt they owe. It's not what they have done, its why they did it.

- A pension fund will look at the amount of capital in your fund and offer a pension based on that, plus what they can earn with it going forward. Because no one has any faith in Britain, the value of future earnings have dropped to about zero. Assume you retired 5 years ago and your pension was calculated at £5k a month, that is based on the pot in 2017 plus future earnings. If the future earnings drop now to zero, there isn't enough cash to pay you, so the fund is bankrupt. People who retire this month will just get nothing!

- The Government takes out loans to borrow, these are 99% fixed rate. So changes in interest rates don't affect cash payments. But Government loans, like car loans, have a fixed life, usually about 5 years. If the Government has a loan of say £100m due for repayment, it will borrow, (new loan ), a £100m and use the proceeds to pay off the old loan. These new loans skyrocket in interest because again, no one has any faith where Britain will be in 5 years time.

By buying Governmnet loans the BoE forces the price of loans up, the yield goes down (interest/price= yield) and it stabilises those 2 markets. But they had to do it because of the incompetence of the Chancellor, and they've wasted £65bn, money they could have used for the NHS etc
2 months ago
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#317072
I thought the question from the Radio Nottingham interviewer to Dizzy Lizzie this morning was telling:

"Some people were worried about the cost of heating their homes. Now they are worried about keeping their homes".
She’s an absolute train wreck.
2 months ago
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#317076
Inflation, rising interest rates, and heating are global issues-just like the pandemic.They are not specific to the U.K.!All of a sudden, it’s a Truss mistake.Very poor and short sighted.

It’s how she manages her way out of this that counts now.
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