I think there’s a reasonable chance, although perhaps not as likely as Mahrez not missing that penalty tonight.What’s the betting the Govt falls this week? Evens I’m going for. Probably the same odds as Mahrez missing a penalty that matters.
I think there’s a reasonable chance, although perhaps not as likely as Mahrez not missing that penalty tonight.
Things could get very nasty if the BoE really does stop its purchases at the end of this week, and there’s a sense of complete disarray around the government which I haven’t really witnessed before. Obviously things got very weird when Johnson was pushed out, but for a new administration, what we’re seeing at the moment is just astounding.
Even aside from the mini budget shambles, there’s a complete lack of authority, legitimacy and competence. I’m not sure if anyone has posted earlier on the thread, but Coffey’s round of interviews this morning were horrendous, and she obviously hasn’t got any control over her brief at all. I’d be amazed if serious talks about a leadership challenge weren’t ongoing at the moment.
It’s a mess isn’t it!Agreed. It could be a game of bluff, but Bailey going public like this and saying policy is pulling in different directions, tells me that Kwarteng and Truss are not listening to him in private. Someone has to intervene because this is not sustainable.
I find it quite childish tbhThe term ‘anti-growth coalition’ being used in the House today a lot from the Tory frontbenchers. Obvious been told to push that !!!
And I’m thinking that they’ve done it on purpose to put you, and many others, in a position where the rich steal your pension and you have to work longer.Their shit show is already directly affecting myself and ordinary people with pensions under threat. They are incompetent and evil economic fascists.
I find it quite childish tbh
There’s a weird Mexican stand off at the moment, and we could have a bit of a shit show next week as things come to a head.Agreed. It could be a game of bluff, but Bailey going public like this and saying policy is pulling in different directions, tells me that Kwarteng and Truss are not listening to him in private. Someone has to intervene because this is not sustainable.
There’s a weird Mexican stand off at the moment, and we could have a bit of a shit show next week as things come to a head.
Ironically, the emergency gilt purchase schemes introduced by the BoE over the past fortnight haven’t really been used that much by the pension funds, and the BoE’s purchases have been relatively small. Partly this reflects the less generous pricing implemented by the BoE relative to earlier schemes, and sometimes it’s only the presence of the BoE in the market, rather than its activity levels, which makes the difference. But I also think that pension funds are reluctant to sell gilts at current levels - unless they really need to - as they expect Truss to go fairly soon and gilts to then re-price in response.
None of this helps Bailey from a financial stability perspective - he can only do so much to get pension funds to reduce their gilt holdings - so he’s being very vocal now to cover himself if things go wrong again next week.
Bottom line is that if government is still in place on Monday, then I think we could have another lurch lower in gilts that would eventually force the BoE to act, and Truss to go, as the government would not be tenable. This is of course what the market wants in any case, hence the stand-off. It’s all very circular but we could have some fireworks over the next week or so.
Sounds like a great name for a punk band.Thing is already people are printing and selling T-shirts and hoodies with it on and taking the piss - I have no idea who is head of the "3 word slogan" dept but they are getting worse and worse.
And more.It’s a mess isn’t it!
I know. I am on that point and have a very modest pot. Not moaning as many have nothing. However thus odious corrupt political party want to ruin everything.And I’m thinking that they’ve done it on purpose to put you, and many others, in a position where the rich steal your pension and you have to work longer.
Horrible to say but that is the only thing I can think of with their current policy.
Everybody in the lower level are in the same boat, mate, but there is a crossover point where those with a modest portfolio lose while those who can diversify will move it and make a greater share. This leads to forced sales of such things as owner properties which are bought up by people who aren’t making as much money in the market and can afford to hold until the impact is over.I know. I am on that point and have a very modest pot. Not moaning as many have nothing. However thus odious corrupt political party want to ruin everything.
I enjoy your inputs, mate, but every time I read your posts I get a little more confused ;-)There’s a weird Mexican stand off at the moment, and we could have a bit of a shit show next week as things come to a head.
Ironically, the emergency gilt purchase schemes introduced by the BoE over the past fortnight haven’t really been used that much by the pension funds, and the BoE’s purchases have been relatively small. Partly this reflects the less generous pricing implemented by the BoE relative to earlier schemes, and sometimes it’s only the presence of the BoE in the market, rather than its activity levels, which makes the difference. But I also think that pension funds are reluctant to sell gilts at current levels - unless they really need to - as they expect Truss to go fairly soon and gilts to then re-price in response.
None of this helps Bailey from a financial stability perspective - he can only do so much to get pension funds to reduce their gilt holdings - so he’s being very vocal now to cover himself if things go wrong again next week.
Bottom line is that if government is still in place on Monday, then I think we could have another lurch lower in gilts that would eventually force the BoE to act, and Truss to go, as the government would not be tenable. This is of course what the market wants in any case, hence the stand-off. It’s all very circular but we could have some fireworks over the next week or so.
Sounds like a great name for a punk band.
Would make a great double bill.I presume you mean Anti Growth Coalition ? I have to say I'd also be tempted to use 3 word slogan as a name too
Personally, I’d like to bring this country to a halt and get rid of, what I believe to be, a corrupt government.