Liz Truss Resigns as PM

[Kirkstall Blue]

Pension funds on the verge of collapse the banks buying bonds to save the pension fund, lunatic’s in charge of the asylum printing money to buy bonds.
Can it get any worse?

 

[Mike D]

The BOE are launching bond buying to stabilise the economy , dont know how that helps but that is what they are doing

It stops bonds being in the future being issued by government from rising to high. In short its shoring up the market and trying to stabilise the market for now after toxic min budget we have just had.

Although its not really doing much based on this from Guardian

The Bank of England says it will intervene in bond markets to try and stabilise them, after the recent selloff. It will start buying long-dated gilts from today to “restore orderly market conditions” and stave off a “material risk to UK financial stability”

I suspect that further measures will coming in possibly ratcheting up interest rates to calm things down more. In a nutshell we are f*cked

 

[kaz7]

It stops bonds being in the future being issued by government from rising to high. In short its shoring up the market and trying to stabilise the market for now after toxic min budget we have just had.

Thanks

 

[The Future’s Blue!]

They have shown there true colour’s Truss is only doing what the party want, everything is threatened, pension funds mortgage rates that’ll affect the middle class and everyone else who has a mortgage they can’t be saved with the big tax cut.
Crashed the economy so they can all have tax breaks on the quiet promise to there backers

I am beginning to wonder if they are now working for the likes of Putin, it’s so batshit crazy.

 

[aguero93:20]

I wonder at what point the protests and riots start

The second they touch our cousins in the north.

 

[The Light Was Yellow Sir]

I am beginning to wonder if they are now working for the likes of Putin, it’s so batshit crazy.

I know the ‘you’ll own nothing‘ stuff was supposed to be being pushed by conspiracy theorists but one does start to wonder if they might have had some of it right.

 

[TheBlueDune]

I wonder at what point the protests and riots start. I am guessing the new year once new energy bills start coming in and the interest rate on mortgages starts to seriously hit more people.

We used to riot and protest over smaller stuff like poll tax, feels like the population are much more quelled or controlled nowadays. Soft communism lol

The days of Poll Tax rioting were in a different world.

Riots are predominantly led by the youth of the country, maybe a militant student generation. A youth that had little or no hope for the future, didn't have a job, lived off a Giro, had little to lose, etc. Demonstrations were allowed, there wasn't facial recognition CCTV in our streets.

Now, the youth are more worried about losing their job (even if it is zero hours) because they won't be able to pay for the next iPhone, they're trying to save for a mortgage deposit or a rental deposit, they've got their next payment due on the car PCP, they're wondering where to have next year's cheap flight holiday, can they get tickets for next years festival, seeing their student loan account at tens of thousands of pounds owing, etc.

Only when there is widespread realism that the current crisis is jeopardising all of that will the youth stand up and rebel. It will happen, don't know when.

 

[mancityvstoke]

We need Boudica back

 

[Ifwecouldjust.......]

Pension funds getting hammered and losing huge amounts of capital -
Banks forcing them to make margin calls and liquidate assets - so gilts -
Some pension funds losing large amounts of their fund

 

[Ifwecouldjust.......]

IMF IS CLOSELY MONITORING ECONOMIC DEVELOPMENTS IN BRITAIN, AND IS ENGAGED WITH UK AUTHORITIES - SPOKESPERSON