The Conservative Party

[bluethrunthru]

Would make a great double bill.

Supporting the James Last Orchestra - just to freak audiences out lol

 

[The Future’s Blue!]

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.

If those in control cannot sort it themselves, the people who voted for them, MUST.

 

[bluethrunthru]

Worth noting Bailey the head of the Boe is a Brexiteer

Bank of England ‘reluctant’ to talk about Brexit harm, says Bank of America

Bank of England governor Andrew Bailey faced a Brexit row on Friday after it was accused of being “reluctant” to talk about the harm caused by Britain quitting the EU to avoid upsetting the Government.

www.standard.co.uk

 

[Millwallawayveteran1988]

What a mess they have made of this. Shambles.

 

[BlueHammer85]

Ladies and Gentlemen - your Health Secretary - who is in charge as we hurtle to autumn, flu season and a rapidly rising Covid-19 rate. She could make Kwarteng's appointment as Chancellor look like a master stroke

She’s in bed with the smoking lobby - another shyster in the party

 

[Millwallawayveteran1988]

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.

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.

 

[bluethrunthru]

She’s in bed with the smoking lobby - another shyster in the party

Its a party of shysters - or should that be a shite party?

 

[bluethrunthru]

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.

Laughably they have a crew of MP's and supporters all over Twitter saying its nothing to do with the mini-budget

 

[Brewster's millions]

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.

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.

 

[bluethrunthru]

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.

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.