The Conservative Party

[Chippy_boy]

He's a banker ffs. He's hardly a bleeding heart socialist. He advises the rich for a career. He's calling it exactly as he sees it as that's his job.

Like we never get biased refereeing decisions either, because that's their job too.

 

[The Light Was Yellow Sir]

where have you heard that? fucking insane if true

https://www.independent.co.uk/news/...ts-pound-sterling-dollar-latest-b2175108.html

Letters of no confidence in the premiership of Liz Truss have begun stacking up amid panic over her government’s economic proposals, a former Conservative minister has claimed.

An ex-minister in Boris Johnson’s government told Sky News that the letters which could trigger a confidence vote have already been sent to 1922 Committee chair Sir Graham Brady.

 

[Chippy_boy]

The pound plunged nearly 5% at one point to break beneath 1985 lows and hit $1.0327. Moves were exacerbated by thinner liquidity in the Asia session, but even after stumbling back to $1.05, the currency is still down some 7% in just two sessions. Options pricing implies a wild ride ahead.

"The market is now treating the UK as if it's an emerging market," said Rabobank strategist Michael Every in Singapore.

"And they're not wrong in terms of the policy response and the naivety of thinking that boosting demand rather than supply is how you deal with a supply side shock," he said.

In other news, @Chippy_boy said “just give it a chance and everything would be fine” and the markets are now becalmed……..

Er, don't misquote me please. What I actually said (in terms) was that 24 hours is hardly long enough to conclude its a failure. I did not say everything will be fine. It might be, it might not be. No-one knows right now, not even intellectual giants like IfIhadonly.

 

[Alan Harper's Tash]

https://www.independent.co.uk/news/...ts-pound-sterling-dollar-latest-b2175108.html

Letters of no confidence in the premiership of Liz Truss have begun stacking up amid panic over her government’s economic proposals, a former Conservative minister has claimed.

An ex-minister in Boris Johnson’s government told Sky News that the letters which could trigger a confidence vote have already been sent to 1922 Committee chair Sir Graham Brady.

When’s it Francois’ turn?

 

[domalino]

https://www.independent.co.uk/news/...ts-pound-sterling-dollar-latest-b2175108.html

Letters of no confidence in the premiership of Liz Truss have begun stacking up amid panic over her government’s economic proposals, a former Conservative minister has claimed.

An ex-minister in Boris Johnson’s government told Sky News that the letters which could trigger a confidence vote have already been sent to 1922 Committee chair Sir Graham Brady.

Would Boris Johnson win a leadership election if Liz Truss got booted out?

 

[Brewster's millions]

We've no idea what his politics are. It was stated he was from UBS in the original link, so that's hardly a new endorsement.

It’s a very silly thing for him to say regardless of his politics - people receiving his advice don’t want silly, emotive comments designed for Twitter.

He has form actually for saying daft things regarding China, so I think it’s an attention-seeking thing and most sensible people would just ignore him.

 

[domalino]

Er, don't misquote me please. What I actually said (in terms) was that 24 hours is hardly long enough to conclude its a failure. I did not say everything will be fine. It might be, it might not be. No-one knows right now, not even intellectual giants like IfIhadonly.

Let me translate this for you @The Light Was Yellow Sir

"Yes, I know we've driven the car over a cliff, but we've not hit the ground yet so it's too early to say things are going badly"

 

[paulchapo]

Broadly I agree, and I have long argued - even on here - for a simpler tax system where no-one on less than about £20k should pay any tax at all. But I do not agree about the trickle down bit. More companies investing in the UK means more tax revenues, more employment and tax revenues from that, and if there are labour shortages, higher wages too. You cannot say that more inward investment into the UK would be anything other than a good thing.

It's not a good thing for the hard worker on a minimum wage, it's just more of the same. There are labour shortages now and some companies have put up wages as a result, but soon a lot of those businesses will be gone if their fuel bills continue to rocket. Unless you're one of the lucky few at the top of the money chain in this country life is just a bleak struggle from cradle to grave for the majority. Not just this country though it's true of most around the world.

 

[The Light Was Yellow Sir]

When’s it Francois’ turn?

Sooner rather than later as they must be running out of candidates…

 

[Bodicoteblue]

Come on you naysayers. Be fair- it might just work!
It‘s being brought to you by the people who brought you austerity and brexit and we know how great these were for the nation.
In fact ’trickle-down‘ is such a great idea that I can’t understand why nobody thought of it before.
What??…….they did,!!…….how did it go??

 

[Chippy_boy]

The independent reporting it as "Truss is Fucked."

The independent article has an interesting quote: “The issue is government fiscal policy is opposite to Bank of England monetary policy – so they are fighting each other. What Kwasi gives, the Bank takes away ... You cannot have monetary policy and fiscal policy at loggerheads.”

Absolutely correct. The government need to realign the BoE's inflation targets and remit, or else all the benefits of the tax cuts will be wiped out. As I have repeatedly said, interest rate rises right now are absolutely the wrong thing to do, but under its current remit, the BoE is kind of obligated to impose them. Their brief does extend to keeping inflation around 2% in the medium term however, so they have some leeway.

 

[The Light Was Yellow Sir]

Let me translate this for you @The Light Was Yellow Sir

"Yes, I know we've driven the car over a cliff, but we've not hit the ground yet so it's too early to say things are going badly"

Let’s hope either Arthur Dent or Trillion pulls the infinite improbability drive and a mattress suddenly appears at the bottom of the cliff…..

 

[Brewster's millions]

Would Boris Johnson win a leadership election if Liz Truss got booted out?

He would make the final two, with Sunak, but I would think Johnson would like Truss to last a bit longer so that he can write his books, do his speeches and earn some dough before getting back into it.

 

[Chippy_boy]

Let me translate this for you @The Light Was Yellow Sir

"Yes, I know we've driven the car over a cliff, but we've not hit the ground yet so it's too early to say things are going badly"

It's like the matchday forum on here at times. 0-2 down and the loonies are all saying we've lost with 30 minutes still left to play. Only in this case we have 89 minutes left. The budget was less than 1 day ago FFS.

 

[The Light Was Yellow Sir]

It's like the matchday forum on here at times. 0-2 down and the loonies are all saying we've lost with 30 minutes still left to play. Only in this case we have 89 minutes left. The budget was less than 1 day ago FFS.

It’s peoples lives though so I would respectfully suggest it’s a tad more important.

 

[mayo31]

It's like the matchday forum on here at times. 0-2 down and the loonies are all saying we've lost with 30 minutes still left to play. Only in this case we have 89 minutes left. The budget was less than 1 day ago FFS.

Where is VAR when you need it

Goggle eyes could have his play cancelled

 

[The Future’s Blue!]

Can we get away from the misconception that this government want to help the less off. They don’t, they hate the scroungers and if they were no more, by whatever means, then they’d be content.

 

[domalino]

Let’s hope either Arthur Dent or Trillion pulls the infinite improbability drive and a mattress suddenly appears at the bottom of the cliff…..

Hopefully Liz Truss and Kwasi Kwarteng are more like the sperm whale that spawns several miles up in the air.

 

[paulchapo]

Johnathan Pie nails it as usual

 

[paulchapo]

Can we get away from the misconception that this government want to help the less off. They don’t, they hate the scroungers and if they were no more, by whatever means, then they’d be content.

They only like them/us when we're working in poorly paid jobs creating vast wealth for themselves and their chums. Pensioners and the disabled they want dead as soon as possible and they're doing quite a good job ensuring that happens. In fact it's probably the only thing they've done/are doing with great success.