Should we trust Sunak or the next PM to fix the Country's problems? (title revised 24/10/22)

[tobyjugg2]

On a somewhat positive note, I've taken the trouble to dig even deeper into what the BoE has done so far to minimise the negative impacts of Truss and Kharzis steal from the poor to give to the rich budget ..

 

.. and I'm well impressed actually

 

Its interesting that the BoE seems to have trapped and blocked the 'profiteering' side of the buyback pretty well

.. shows Suncks heavily defrauded support packages and the populist PPE scandels for the avoidably 'incompetently' implemented and mis-managed  ****-ups they are.

 

if it were Truss and Kharzi managing it, I have no doubt the £65B would have all gone on day 1 to profiteers with the real issues left undressed.

Edited October 14, 2022 by tobyjugg2

[tobyjugg2]

Half a trillion, half a trillion,

Half a trillion onward,

Into the valley of Debt

   Rode the three hundred.

“Forward, the Lightweight Brigade!

Charge for the profit” to be made

Into the valley of Debt

   Rode the three hundred.

 

“Forward, the lightweight brigade!”

Others may be dismayed?

Yes, though the soldiers knew

Someone had blundered.

   Theirs not to make reply,

   Theirs not to reason why,

   Theirs but to cheer and lie.

Into the valley of debt

Rode the three hundred.

 

Shorts to right of them,

Scams to left of them,

profit in front of them

   shorted and plundered;

Stormed at with short and sell,

Let the plebs rot in hell,

Businesses fail in debt,

Kids to the mouth of hell

   Rode the three hundred.

 

 

Flashed all their scheming bare,

Flashed as she turned in air

Still twisting the truths left there,

Charging the markets while

   All the world wondered.

Plunged all in waffle-smoke

Economy they left broke;

Pensions and mortgages

 Reeled from their sabre strokes

   Shattered and sundered.

Then they rode off, but not

   all the three hundred.

 

 

Lies all surrounding them,

Lies are the most of them,

Debt left behind them

   shorted and plundered;

Storming with short and sell,

While others' business fell.

They thought they lied so well

Us left in jaws of debt,

Kids at the mouth of hell,

All that they new so well,

 ****** three hundred.

 

 

Can their vainglory fade?

vast sums of profit they made!

   All the world wondered.

Despair the debt they made!

to enrich the lightweight brigade,

   Corrupt three hundred!

Edited October 14, 2022 by tobyjugg2

[honeybee13]

Truss holding presser today at 2pm, expected to announce that corporation tax will rise in the spring. Kwarteng not expected to be there.

[theoldrouge]

19 hours ago, tobyjugg2 said:

According to Moneyfacts, a financial data provider, the average new two-year fixed rate rose from 4.75 per cent to 6 per cent last week for the first time since the 2008 financial crisis.

 

- that was days ago - 

its closer to 7% now

 

 

 

Thats the mails 'opinion' supported by selected pics and very carefully selected stats - which paint an entirely wrong picture

- although a handful of Truss' supporters and even the express might agree for a day or two until the Express starts whinging about 'financial and housing collapse'

- no one else does

 

In fact ALL the financial giants VERY strongly agree that its Truss and Kharzis fault.

Just read the IMF's statements - says it all - Trusss' unfunded borrowing to further enrich the rich, and (more telling for them) further impoverish the poor who will need to pay the interest on the borrowing for the next 2 decades

 

 

On the point of the BoE not raising interest rates sooner - if they had they would have unnecessarily (at the time) created a mortgage crisis problem but wouldn't have significantly changed the run on gilts and the pounds created by the anti-growth coalition of truss and kwasi with their mini-budget -  compounded by Brexiteer traders shorting the UK's finances. It might well have made it worse in advance rather than demonstrably as a stabilizing action with little choice left.

 

Truss/Kwasis mini budget left them no choices really to prevent an IMMEDIATE pension funds collapse.

A higher interest rate rise earlier WOULD have trashed the mortgages of thousands upon thousands of people - and would (in that case) have been the BoE's fault as it was not the necessary, although it might have been desirable for some (anti-growth) scenarios that want peoples houses repossessed and less expendable money in the rest of the UK markets

 

 

I'm sure you haven't read this let alone understood it @theoldrouge but it is quite basic stuff, quite simply explained by the IMF, IFS and major financial institutions.

Understand it very well thank you 
I would say it is you who does not 
The BOE and the FED and the ECB should all have started raising rates aggressively a couple of years ago 
However we had all the nonsense of 
the “deflation coming, no inflation, inflation only temporary, opps inflation rampant” let’s carry on printing money 
However the bond vigilantes have had their say and very soon the gold vigilantes will have theirs 

[theoldrouge]

https://news.sky.com/story/kwasi-kwarteng-sacked-as-chancellor-after-mini-budget-turmoil-sky-news-understands-12719407

[honeybee13]

Early reaction to Truss's stament seems to indicate the markets think it's too little, too late.

[honeybee13]

From Bloomberg.

 

[tobyjugg2]

3 hours ago, theoldrouge said:

Understand it very well thank you 
 

 

clearly not .. unless you are just gaslighting

 

Here, let the FT editor at large try to enlighten you

 

FT editor-at-large has one word for Rees-Mogg's budget claims

WWW.THELONDONECONOMIC.COM

---

"At the end of day, the spark that lit this fire was very much the budget announcement", Gillian Tett said.

 

and if that fails, back to the ..

 

Bank of England was FORCED to step in over mini-budget  | Daily Mail Online

WWW.DAILYMAIL.CO.UK

---

In a letter to MPs defending the Bank's actions, Sir Jon Cunliffe said officials stepped in to prevent a 'self-reinforcing spiral' which could have led to a...

 

 

... or even just read your own link to the article on Kharzis sacking.

Here you go:

 

"The mini-budget pushed the pound to a record low against the dollar, sent the cost of government borrowing and mortgage rates up and led to an unprecedented intervention by the Bank of England."

 

 

Edited October 14, 2022 by tobyjugg2

[theoldrouge]

Here’s a little article to help with your understanding 
 

https://www.goldmoney.com/research/banking-crisis-the-great-unwind
 

any questions please ask 

[tobyjugg2]

Why would I look further than the IFS, S&P, the FT and its editor at large, the IMF and hundreds of other financial institutions of expertise and repute, and the market itself, who are quite certain that it wasn't the queen passing, global events, or even manipulation by the Lizard overlords or the grays ... and that it WAS Truss and Kharzis mini budget contents

 

- as does far far lessor Daily mail and even Truss herself saying that her mini-budget “went further and faster than markets were expecting”

 

Given that, surely only a clueless numpty or rampant shill would continue searching for obscure 'opinion' pieces and obscure sites to try to claim otherwise?

 

In fact, it seems to me that surely even a clueless numpty would have woken up to the overwhelming aroma of coffee by now?

 

 

[tobyjugg2]

I see the new chancellor agrees that the budget was the problem, and is talking about tax rises and spending cuts and mistakes made

.. So much for Truss' (and apparently  @theoldrouge) fantasy core policies

 

 

Meanwhile the alliances of the world also begin to shift more openly toward what has long been reality

"Democrats on Capitol Hill have suggested transferring US weapons systems in Saudi Arabia to Ukraine and suspending a planned transfer of Patriot missiles to Riyadh in the wake of what they call a “turning point” in Washington’s relationship with the kingdom."

[honeybee13]

They were so sure they were right. Who thinks KK wasn't enacting Truss's agenda?

 

Kwasi Kwarteng: how ex-chancellor’s fate was sealed by IMF orthodoxy he fought against | Kwasi Kwarteng | The Guardian

WWW.THEGUARDIAN.COM

---

Former occupant of No 11 Downing Street finally sacked after financial institution chief’s remarks in Washington

 

[tobyjugg2]

Anyone who thinks truss wasn't not only fully on board but also driving and signing off Kwasis plans is frankly deluded

 

 

and As J. K.Hunt outlines policies (currently) utterly opposite to Truss core beliefs and statements ...

(but expect support for the poor to end, replaced with costs)

 

"Conservative support has slumped below 20 per cent in the worst poll yet to hit beleaguered Liz Truss, giving Keir Starmer’s Labour a remarkable 34-point lead.

The survey also found that just 9 per cent of voters – fewer than one in 10 – have a favourable view of the prime minister"

 

Liz Truss’s Tories slump below 20% in bombshell poll

WWW.INDEPENDENT.CO.UK

---

Staggering 34-point lead for Labour would deliver landslide for Keir Starmer

 

[tobyjugg2]

For posterity

 

 

[tobyjugg2]

I've just realised, its only 2 chancellors and a PM until Christmas

Doesn't time fly.

Edited October 15, 2022 by tobyjugg2

[honeybee13]

Looking at that video, Truss is in denial. There can't be many people who see her staying in office for more than a few weeks.

[tobyjugg2]

'Just as Boris Johnson had shredded any reputation they had for integrity, Truss and Kwasi have done it for economic competence

[theoldrouge]

16 hours ago, tobyjugg2 said:

Why would I look further than the IFS, S&P, the FT and its editor at large, the IMF and hundreds of other financial institutions of expertise and repute, and the market itself, who are quite certain that it wasn't the queen passing, global events, or even manipulation by the Lizard overlords or the grays ... and that it WAS Truss and Kharzis mini budget contents

 

- as does far far lessor Daily mail and even Truss herself saying that her mini-budget “went further and faster than markets were expecting”

 

Given that, surely only a clueless numpty or rampant shill would continue searching for obscure 'opinion' pieces and obscure sites to try to claim otherwise?

 

In fact, it seems to me that surely even a clueless numpty would have woken up to the overwhelming aroma of coffee by now?

 

 

As usual you try to portray the financial problems as aUK only problem as is the usual leftie suspects won’t 
Had you have bothered to read the link you would have noticed that they are in fact worldwide 
As it is I only provided the link as I thought it may help you pass the time whilst glued to a road somewhere 

[tobyjugg2]

1 hour ago, theoldrouge said:

 

 

As usual you try to excuse right wing incompetence or self serving as 'not their fault' or even 'the right thing to do'

 

When the actuality is that Truss and kwasi made them exponentially worse for the UK by their antics, when we should have been in a better position than much of the world if we had had competent leadership for even the last two months, let alone last 2 years, or even a leadership that wasn't out to enrich the rich and guarantee energy company excess profits no matter the cost to the UK people

 

.. as stated by everyone with a clue, even 'Truss' new chancellor and even very reluctantly half -admitted by Truss who clearly has a bit more of a clue and a little less conviction in cretinous idiotology economics excuses than you

 

 

 

These 2 tosspot twins of anti-growth (Truss and Kwasi) have turned a UK £28Billion surplus (in potential debt reduction) into £60Billion+ of increased debt

- all in less time than it takes you to spout one of your short nonsense posts - aka f*** all flat.

 

- and thats excluding the BoE expenditure in saving pension funds, and doesn't include the effects of the trebling of mortgage interest rates and increased cost of the existing, let alone extra debt they have generated ... for nothing.

 

Its all in the various financial reports .. and many headlines

[tobyjugg2]

What I find horribly hilarious is that the populists are now touting Hunt as the savior

.. when little more than 10 minutes ago he was not worth tuppence, and Truss was the savior

 

Well - half right then (Hunt aint worth tuppence) is better than they seem to be doing now.

Edited October 15, 2022 by tobyjugg2

[honeybee13]

They tried managing without orthodoxy and it didn't work. I thought it would take more than six weeks though. 

[honeybee13]

This makes me feel the way you did the other day when Rees Mogg was in the Guardian claiming green credentials, TJ. Assistant editor of the Telegraph saying 'Project Feat was right all along and bemoaning the UK's loss of international standing.

 

archive.ph

ARCHIVE.PH

 

[tobyjugg2]

Theres entire twitter threads on a certain other papers then and now headlines ..

... but the Express and mail still carries on posting sh** despite reality glaring like the noonday death valley sun

 

Wonder if a certain someone here is the Mail or Express' editor?

Seems far enough removed from reality to qualify ..

 

 

 

reminder

 

US trade deal NEXT MONTH! Britain to secure agreement in next 14 days in huge policy shift | Politics | News | Express.co.uk

WWW.EXPRESS.CO.UK

---

BRITAIN will start signing US trade deals as soon as next month, Trade Minister Penny Mordaunt has announced writing for Express.co.uk.

 

[unclebulgaria67]

Appears that the question is on what day next week will Truss resign and be replaced by a caretaker PM, while Tory MP's vote for a new leader/PM ?

 

Senior Tories hold talks to discuss ousting Liz Truss to ‘rescue’ party | Conservatives | The Guardian

WWW.THEGUARDIAN.COM

---

As new chancellor Jeremy Hunt rips up prime minister’s economic plans, Conservatives plot route to replace her

 

[tobyjugg2]

with mordaunt (star of the post 2 above) a front runner LOL

 

I think even a number of Tories are praying for someone to put them and us out of the misery of them and force a GE

Edited October 15, 2022 by tobyjugg2