The Conservative Party

[bluethrunthru]

 

[blueparrot]

Apparently some no confidence letters are already going in

 

[BobKowalski]

No, and I said as much if you bothered to read my post. I suppose this is the Tories fault as well, and nothing to do with the dollar getting stronger:

View attachment 56643

The pound was down against the Turkish Lira at one point and that is a basket case.

I’ve no idea why seemingly rational people publicly soil themselves to justify the political party they support.

Very odd.

 

[domalino]

The pound was down against the Turkish Lira at one point and that is a basket case.

I’ve no idea why seemingly rational people publicly soil themselves to justify the political party they support.

Very odd.

It was down against the fucking Ruble!

 

[The Light Was Yellow Sir]

As ever with these clowns its just about believing - no need for evidence and proof nobody needs to see the receipts

She’s the one who got shredded by Paxman a few years ago. Beaten by Paxman was an occupational hazard, I suppose. Beaten by Burley is another level of humiliation altogether. And it’s 10 years on…..

 

[Gareth Barry Conlon]

Not a soul even prepared to contemplate (a) that the economic crisis at the moment is not all the Tories fault (when patently it isn't) and (b) that the new approach Truss is taking might actually work.

A - there is a crisis, the response is totally wrong. Its based on failed economic theory that is only ever used to justify tax cuts for rich people.

B - It has failed already, the fall in the pound will make our economic situation worse, even if you assume tax cuts will stimulate growth (evidence suggests they don't) it wont even make these losses back. Its an unmitigated disaster.

 

[Chippy_boy]

Thing is mate, you’re obviously not stupid, but if fuel and import costs are rising week on week due to nothing more than the exchange rate, how does inflation stabilise on its own?

I don't want to sound patronising, so forgive me if you get all of this, but...

Inflation is a historical measure. It looks at the price of a basket of things 12 months ago and compares the price of those things today. And right now we see that this basket is about 10% higher, due in very large part to the increased cost of energy (10x gas wholesale gas price for example). Of course the energy costs have a direct cost in the basket of goods itself, but also an indirect cost increase on other products due to higher transportation costs etc.

However, there is no evidence that prices will just spiral upwards at this rate forever. For example, petrol prices have actually come down. If prices in 12 months time remain as they are today, then inflation is back to zero.

£1 goods ==> £1.10 = 10% inflation
£1.10 = £1.10 = 0% inflation, even though the prices are higher than they were at £1.

Of course it will not drop to zero that dramatically, in most part because the indirect effect of the increased energy costs, takes time to work its way through. But it will come down over the next 12 or 24 months to low single figures. In fact there's a real danger than inflation could go negative in a couple of years, which brings in a raft of problems of its own.

 

[Chippy_boy]

A - there is a crisis, the response is totally wrong. Its based on failed economic theory that is only ever used to justify tax cuts for rich people.

B - It has failed already, the fall in the pound will make our economic situation worse, even if you assume tax cuts will stimulate growth (evidence suggests they don't) it wont even make these losses back. Its an unmitigated disaster.

We'll see.

 

[BobKowalski]

It was down against the fucking Ruble!

Ha! Just snorted coffee everywhere…bloody Truss

 

[robbieh]

Perhaps she (and you) should have a read of this:

The man behind the Hong Kong miracle

No modern country has come as close to Adam Smith’s ideal as Hong Kong, thanks to John Cowperthwaite

capx.co

What you don't seem to understand is that modern capitalism is not that espoused by Adam Smith and his invisible hand.
Modern capitalism is monopoly capitalism where increasingly large corporations dominate the market and set the rules of the game by influencing government policy.
It's also increasingly a rentier rather than a productive form of capitalism so a completely different situation to that which HK found itself in many years ago.