I know that gullible people like Dohnut will, what I mean is do the people spouting it believe it themselves?
mini budget
Moderator: Long slender neck
- Long slender neck
- MB Legend
- Posts: 14243
- Joined: Fri Apr 12, 2019 9:13 am
- Has thanked: 2489 times
- Been thanked: 3270 times
Re: mini budget
- Dunners
- Boardin' 24/7
- Posts: 8879
- Joined: Thu Apr 11, 2019 4:21 pm
- Has thanked: 1046 times
- Been thanked: 2462 times
Re: mini budget
No, of course not. They're not stupid. But they can safely rely on plenty of other people being stupid.Long slender neck wrote: ↑Wed Sep 28, 2022 11:31 amI know that gullible people like Dohnut will, what I mean is do the people spouting it believe it themselves?
- Dunners
- Boardin' 24/7
- Posts: 8879
- Joined: Thu Apr 11, 2019 4:21 pm
- Has thanked: 1046 times
- Been thanked: 2462 times
Re: mini budget
Allegedly, the final straw behind this morning's BoE intervention is that some pensions funds were at serious risk of collapse.
No wonder Truss has gone into hiding. She's probably hoping she can somehow distance herself from Kwarteng.
No wonder Truss has gone into hiding. She's probably hoping she can somehow distance herself from Kwarteng.
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times
Re: mini budget
You are not asking this seriously, are you?Long slender neck wrote: ↑Wed Sep 28, 2022 11:31 amI know that gullible people like Dohnut will, what I mean is do the people spouting it believe it themselves?
- The Mindsweep
- Regular
- Posts: 3003
- Joined: Thu Apr 11, 2019 3:50 pm
- Location: Bravos
- Has thanked: 167 times
- Been thanked: 782 times
-
- Regular
- Posts: 4665
- Joined: Sat Apr 13, 2019 3:36 pm
- Has thanked: 1098 times
- Been thanked: 736 times
Re: mini budget
Would anyone seriously believe that Kwarteng thought this up himself? He’s just the instrument that does what he’s told to do.
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times
- Dunners
- Boardin' 24/7
- Posts: 8879
- Joined: Thu Apr 11, 2019 4:21 pm
- Has thanked: 1046 times
- Been thanked: 2462 times
Re: mini budget
So, in summary:
- 80K Tory members have selected Liz Truss, an unremarkable-at-best minister as PM, who has never had the support of the majority of Tory MPs.
- Liz has selected Kwarteng as Chancellor, whose first act is to implement a “mini budget” that had no real electoral mandate.
- The money markets have thought about things and come to the conclusion that there was no evidence or reason to suggest that the government’s plans are viable, feasible or even survivable.
- This has resulted in market turbulence which threatens the financial stability of the UK, to the extent that pension funds could collapse imminently.
- The BoE has had to intervene with ‘temporary’ QE, at a time when we have rampant inflation (which will now just make that worse).
- The taxpayer will have to indemnify the BoE’s intervention.
- We will now almost certainly see carnage in the domestic economy - carnage which the Truss/Kwarteng government has inflicted on us in just three weeks of taking control!
- And apparently, it’s all Labour’s fault.
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times
Re: mini budget
They're not blaming Labour per se, as they have done for historic issues these past 12 years, they're blaming the threat of Labour.
If everyone just tells YouGov they're going to stick with the tories, this carnage will stop immediately.
If everyone just tells YouGov they're going to stick with the tories, this carnage will stop immediately.
- Dunners
- Boardin' 24/7
- Posts: 8879
- Joined: Thu Apr 11, 2019 4:21 pm
- Has thanked: 1046 times
- Been thanked: 2462 times
- Max B Gold
- MB Legend
- Posts: 12264
- Joined: Thu Apr 11, 2019 2:12 pm
- Has thanked: 973 times
- Been thanked: 2789 times
Re: mini budget
Of course he hasn't this has all been gamed at 55 Tufton Street. They will have played out in detail the impact at various stages.
Next comes the austerity and rolling back the state, freeports, laws made by corporates, restrictions on workers and their reps as they try to defend themselves.
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times
Re: mini budget
I love how dunnem has finally seen behind the curtain now his pension fund is at risk of being trashed.
At least your property empire should still be protected, they won't let house prices collapse...
At least your property empire should still be protected, they won't let house prices collapse...
- Max B Gold
- MB Legend
- Posts: 12264
- Joined: Thu Apr 11, 2019 2:12 pm
- Has thanked: 973 times
- Been thanked: 2789 times
- The Mindsweep
- Regular
- Posts: 3003
- Joined: Thu Apr 11, 2019 3:50 pm
- Location: Bravos
- Has thanked: 167 times
- Been thanked: 782 times
- Dunners
- Boardin' 24/7
- Posts: 8879
- Joined: Thu Apr 11, 2019 4:21 pm
- Has thanked: 1046 times
- Been thanked: 2462 times
Re: mini budget
Yeah, but I'm international. Converting the rents back to Sterling is f*cking killing me.TRUMP Plumbing wrote: ↑Wed Sep 28, 2022 12:02 pm I love how dunnem has finally seen behind the curtain now his pension fund is at risk of being trashed.
At least your property empire should still be protected, they won't let house prices collapse...
- tuffers#1
- Boardin' 24/7
- Posts: 9998
- Joined: Thu Apr 11, 2019 2:11 pm
- Awards: Boarder of the year 2020 #1 Wordle cheat
- Has thanked: 6291 times
- Been thanked: 2728 times
Re: mini budget
ive worked in that block of flats ! edit it was 53 or 54Max B Gold wrote: ↑Wed Sep 28, 2022 12:01 pmOf course he hasn't this has all been gamed at 55 Tufton Street. They will have played out in detail the impact at various stages.
Next comes the austerity and rolling back the state, freeports, laws made by corporates, restrictions on workers and their reps as they try to defend themselves.
- The Mindsweep
- Regular
- Posts: 3003
- Joined: Thu Apr 11, 2019 3:50 pm
- Location: Bravos
- Has thanked: 167 times
- Been thanked: 782 times
Re: mini budget
When the BOE & The Treasury started buying sterling on Black Wednesday, the market took a breath and then hammered sterling even more.
They are now buying Long Gilts, when there is no more to sell to them, watch shorter term debt along the curve getting more attention. This can't go on for much longer.
The losers are the Treasury (Us), Pension Funds(Us) and people with mortgage and others that live in houses of landlords with mortgages. Underneath that, public services, everything.
Winners are speculators and financial institutions who will keep on going till a grown up joins the fray. Unfortunately there are none around ATM.
They are now buying Long Gilts, when there is no more to sell to them, watch shorter term debt along the curve getting more attention. This can't go on for much longer.
The losers are the Treasury (Us), Pension Funds(Us) and people with mortgage and others that live in houses of landlords with mortgages. Underneath that, public services, everything.
Winners are speculators and financial institutions who will keep on going till a grown up joins the fray. Unfortunately there are none around ATM.
- Max B Gold
- MB Legend
- Posts: 12264
- Joined: Thu Apr 11, 2019 2:12 pm
- Has thanked: 973 times
- Been thanked: 2789 times
Re: mini budget
This "grown up" what does he/she look like? Is it a financial guru or a political saviour?The Mindsweep wrote: ↑Wed Sep 28, 2022 1:16 pm When the BOE & The Treasury started buying sterling on Black Wednesday, the market took a breath and then hammered sterling even more.
They are now buying Long Gilts, when there is no more to sell to them, watch shorter term debt along the curve getting more attention. This can't go on for much longer.
The losers are the Treasury (Us), Pension Funds(Us) and people with mortgage and others that live in houses of landlords with mortgages. Underneath that, public services, everything.
Winners are speculators and financial institutions who will keep on going till a grown up joins the fray. Unfortunately there are none around ATM.
- The Mindsweep
- Regular
- Posts: 3003
- Joined: Thu Apr 11, 2019 3:50 pm
- Location: Bravos
- Has thanked: 167 times
- Been thanked: 782 times
Re: mini budget
None around, so irrelevantMax B Gold wrote: ↑Wed Sep 28, 2022 1:53 pmThis "grown up" what does he/she look like? Is it a financial guru or a political saviour?The Mindsweep wrote: ↑Wed Sep 28, 2022 1:16 pm When the BOE & The Treasury started buying sterling on Black Wednesday, the market took a breath and then hammered sterling even more.
They are now buying Long Gilts, when there is no more to sell to them, watch shorter term debt along the curve getting more attention. This can't go on for much longer.
The losers are the Treasury (Us), Pension Funds(Us) and people with mortgage and others that live in houses of landlords with mortgages. Underneath that, public services, everything.
Winners are speculators and financial institutions who will keep on going till a grown up joins the fray. Unfortunately there are none around ATM.
- Max B Gold
- MB Legend
- Posts: 12264
- Joined: Thu Apr 11, 2019 2:12 pm
- Has thanked: 973 times
- Been thanked: 2789 times
Re: mini budget
That wasn't my question. But your answers merely confirms my deepest fears.The Mindsweep wrote: ↑Wed Sep 28, 2022 1:58 pmNone around, so irrelevantMax B Gold wrote: ↑Wed Sep 28, 2022 1:53 pmThis "grown up" what does he/she look like? Is it a financial guru or a political saviour?The Mindsweep wrote: ↑Wed Sep 28, 2022 1:16 pm When the BOE & The Treasury started buying sterling on Black Wednesday, the market took a breath and then hammered sterling even more.
They are now buying Long Gilts, when there is no more to sell to them, watch shorter term debt along the curve getting more attention. This can't go on for much longer.
The losers are the Treasury (Us), Pension Funds(Us) and people with mortgage and others that live in houses of landlords with mortgages. Underneath that, public services, everything.
Winners are speculators and financial institutions who will keep on going till a grown up joins the fray. Unfortunately there are none around ATM.
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times
- The Mindsweep
- Regular
- Posts: 3003
- Joined: Thu Apr 11, 2019 3:50 pm
- Location: Bravos
- Has thanked: 167 times
- Been thanked: 782 times
Re: mini budget
If, big if, Tories with backbones come out in force and either say they are going to vote down the mini budget or pile in with letters of no confidence, weirdly this could calm the market. Knowing that any alternative to the lunatics in charge is going to be better.Max B Gold wrote: ↑Wed Sep 28, 2022 2:07 pmThat wasn't my question. But your answers merely confirms my deepest fears.The Mindsweep wrote: ↑Wed Sep 28, 2022 1:58 pmNone around, so irrelevantMax B Gold wrote: ↑Wed Sep 28, 2022 1:53 pm
This "grown up" what does he/she look like? Is it a financial guru or a political saviour?
- Max Fowler
- Boardin' 24/7
- Posts: 5497
- Joined: Tue Mar 23, 2021 12:18 pm
- Has thanked: 509 times
- Been thanked: 1262 times