Nobody knows whether it's a catastrophe or not. This is being driven by market speculation. Are you happy for a UK government's economic policy to be wholly dictated to them by the markets, the IMF and other countries? Because that's what you're supporting. It was always going to take a while to settle, because usually all this goes on behind the scenes after people have been tipped the nod before the policies are made public.
There isn't, is there? Because there's nothing concrete either way. It's been three days. It's been down and is now coming back up. It might go down tomorrow. It might go up. If we go to 1.14 against the dollar anytime soon does that immediately vindicate everything? No. Unfortunately these things can only be judged properly after the fact. That doesn't make a good story for the 24hr news cycle though.
Economist on Sky News now saying that the markets were already in a febrile state and there were things in the mini budget that they weren't anticipating, which has sent them into panic mode.
The state of the country is absolutely rotten. If you disagree that's fair enough. It's a matter of opinion when all is said and done.
As mentioned before, Canute tried a similar thing a few hundred years ago... he may well have got his feet wet... KK ( a clever man maths Phd, but obviously not a clue how the unreal world of Bond and Currency markets work) and Truss have made themselves and the UK look inept at best and possibly fcuked at worst! ps the FT have said Truss & KK were being advised by some currency market traders to go ahead with their plans, whilst these same traders were then shorting Sterling, so making a mint.
The markets normally get a tip-off as to what's coming. That seems to have been half the problem here, they didn't in this case.
Erm, aye as a result of the BoE having to step in with a £65bn rescue package to buy Government bonds. Just to confirm are you still pretending not to be a Tory supporter? Despite defending everything they do regardless of how indefensible. Even the vast majority of Tory MPs let alone voters aren’t trying to defend this.
As you imply there is nothing wrong with being a tory supporter, lots of people are. What is silly is to pretend you are not... Lots the tories have done can be defended, however Kwarteng/Truss announcements on Friday causing financial chaos for the UK.... cutting taxes for the rich... whilst not having a windfall tax on energy companies probably cannot.
We're back to 'not screaming at everything the Tories do = defending/supporting them', I see. Don't try to understand or discuss why things happen, how decisions are made, just cheer when your side wins and the other side loses. 'if you're not with us, you're against us'. Dubya would be proud of you. I don't support anyone. When someone comes along who's worthy of my support, I'll be sure to let you know.
Why are you only advocating a windfall tax on energy companies, why not on all companies who are making vast profits, and companies from abroad who rock up here and pay very little tax. I certainly would. Sorry to say we cannot mend a simple pot hole in the road and until we get government with a backbone to stand up against lobbyist l'm not sure we ever will.
Ha ha ha!! You don’t remotely criticise them whilst they lurch from cluster **** to cluster **** all the while pretending you are impartial. You constantly defend them. It’s all pretty pathetic. And then you have the nerve to talk about having sides. Even the Daily Express have turned today before you.
I constantly try to understand why things happen and the reasoning behind decisions. Politics is a very complicated subject that posters try to reduce to red v blue with zero nuance permitted in order to score cheap points for their side. Red v Blue halfwit politics is exactly what's causing problems in the US. Here, have a cheap point. Do you feel better? Like you've won something? The world's carrying on around you regardless, but you got a point for your side. Oh, and I was never impartial - I dislike all sides equally.
What a load of bollocks, I've seen very little proof of you backing Labour or holding the tories to account.
The thing is, a lot of the criticism of them appears, to me at least, to be driven by anti-Conservative sentiment. Would there be as much criticism of Labour on these boards if they had made the same mistakes? I'd like to think so but I'm not certain of it. If you cut through a lot of the media hysteria, the analysis of it seems a lot more reasonable. Even Labour's shadow treasury people are suggesting that, due to the strong dollar, weak Euro, and nervous state of the markets, this was the wrong time to be making announcements like this. Its still a huge mistake but it's different to just being completely clueless. Which, to some extent, should reassuring as it indicates that the people running things aren't as bad as the press are making out. Something had to be done about the cost of living crisis and while this has backfired other measures could have pushed us deeper into recession.
Liz Truss's 'favourite' economist says chancellor 'took his eye off ball' and 'overstepped the mark' with mini-budget. Gerard Lyons, who serves as an external adviser to the prime minister, said Chancellor Kwasi Kwarteng failed to adequately prepare the financial markets ahead of his announcement. Typical tories, very liar esq https://news.sky.com/story/liz-trus...verstepped-the-mark-with-mini-budget-12707269
