The Conservative Party

bluethrunthru said:
I think that has to be OUR end game. The system is actually rigged against the people from the Civil List to the Honours List from FPTP to Postal voting - yes its gonna make us all suffer but I think it will just hasten the country to the point where they are taking us. Maybe grind the place to a halt and just say we ain't moving until you fuck off - this shambles cannot go on.
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If those in control cannot sort it themselves, the people who voted for them, MUST.
 
Brewster's millions said:
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.
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The 7th best gilt fund out of 36 is down 25% YTD. The worst is down 44% and 35% over 5 years. Some are down 16% since the mini budget. It’s scandalous that they are still in power already and haven’t reversed these policy decisions.
 
Millwallawayveteran1988 said:
The 7th best gilt fund out of 36 is down 25% YTD. The worst is down 44% and 35% over 5 years. Some are down 16% since the mini budget. It’s scandalous that they are still in power already and haven’t reversed these policy decisions.
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Laughably they have a crew of MP's and supporters all over Twitter saying its nothing to do with the mini-budget
 
Millwallawayveteran1988 said:
The 7th best gilt fund out of 36 is down 25% YTD. The worst is down 44% and 35% over 5 years. Some are down 16% since the mini budget. It’s scandalous that they are still in power already and haven’t reversed these policy decisions.
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Agree, yes. As I said I think the situation can’t persist for much longer and next week could be interesting.

It’s particularly scandalous when you consider that the government did this without defining their fiscal framework, sidelining the OBR and ultimately blindsiding the market while Kwarteng was having pissed up conversations with party donors on a Friday night. Amateurish doesn’t quite cut it.
 
Brewster's millions said:
Agree, yes. As I said I think the situation can’t persist for much longer and next week could be interesting.

It’s particularly scandalous when you consider that the government did this without defining their fiscal framework, sidelining the OBR and ultimately blindsiding the market while Kwarteng was having pissed up conversations with party donors on a Friday night. Amateurish doesn’t quite cut it.
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It may have been amateurish but it was also born of exceptionalism. THEY know more that the world markets know. When they act the world will see what they were missing and how clever they were. For example the lack of serious criticism of the ideology in Britannia Unchained showed how clever they are - it never occurred to them that nobody serious actually read the thing.
 
Mogg on Radio 4 laying responsibility firmly with the BofE’s monetary policy, the BofE laying responsibility firmly with the Governmen’s fiscal policy. Friday will be ‘interesting’ to say the least.
 
Is there any point in having a private pension anymore?
Work until your pratically 70, they know what they are doing by constantly putting the age up
Utter fools this lot in charge
 
Cricket Blue said:
Is there any point in having a private pension anymore?
Work until your pratically 70, they know what they are doing by constantly putting the age up
Utter fools this lot in charge
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I have been happily living off mine for the past 18 months - there is plenty of point only issue is you don't realise that when you are 18 years old
 
Just come off the phone to a family member, ex Bank Of England, who is a Director in one of the major investment banks. He's absolutely in shock. Says he's not sleeping. He can't believe what is going on.

He said when they announced the 45p tax cut last week, it applied to almost every single one of them and their clients, yet everyone was running around in horror saying "we don't want this". He's been there, done that and bought the t-shirt and certainly been a Tory man all his life, yet he's firmly of the opinion that Brexit opened the door to a mixture of lunatics and their enabling lickspittles who took over the party and are now totally winging it and are in serious danger of destroying the whole country for a generation. He couldn't understate the enormous significance of the B of E and IMF being at war with the government and says the only way out is a general election.

For him to accept a Labour government as the only solution shows what a mess we are in,
 
bluethrunthru said:
I have been happily living off mine for the past 18 months - there is plenty of point only issue is you don't realise that when you are 18 years old
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I have a private one with the Royal London, I am 47 and have another 20 years before I get the state pension, maybe longer. I know I can draw down on the private one from 55 but to be asking people to work until there more or less 70 in my opinion is an absolute disgrace and I can understand people who don't bother with pensions at all.
Work until you drop, the goverment know what they are doing.
 
‘Twenty year gilt just reached 5.036% - so now above effective borrowing cost reached in aftermath of mini budget, highest level since June 2008‘ @BBC
 
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