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Liz Truss’s time is up

kabbes said:
Interest rates were always going to rise anyway because it was the one lever available to the BoE and because the Fed are doing it, which impacts exchange rates. The difference is that now, instead of seeing rates peak at about 4%, I wouldn’t be surprised to see them hit 8% or 10%. Nobody I know even in middle England or in the halls of capital thinks that it is a good idea to reduce taxes in the middle of an energy and commodity shock, while also involved in a proxy war and with starting high debt ratios. This is all kinds of fucked.
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I just fixed my mortgage for ten years two months ago. Boy do I feel smug. Anyone whose fixed deal ends soon must be bricking it.
 
pseudonarcissus said:
I hadn’t realised he was still there..I assumed he’d been cleared out. Are there any other Major era veterans left? (Redwood excluded)
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Darling jumped b4 the SNP Wipeout.

Too busy to do a run though of who's been in Parliament how long but can't offhand think of any talent (of either party) back then. Aways found it odd Major called redwood et al 'bastards'. It was Major who wouldn't have a one on one with his chancellor on black Wednesday relied on a Cartman triangle instead (him Clarke, Lawson) that saw interest rates sky rocket.. Lot of hurt off that decisio,n one 'the bastards' knew to be folly
 
Kaka Tim said:
Investment banker cunts less than enthusiastic about the prospects of Britannia unhinged ...
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Good. What took them so long? They've been that for many years. Even when the Tories schemes don't go quite so immediately wrong, the scale and cumulative effects just ensure an eventual backlash that wouldn't be so severe had they not fucked everything so deeply. Tory Brexit Britain - price of everything, value of nothing.

Not many people, including the rich, want to live in a never ending crisis with crumbling infrastructure, a deteriorating public realm, naked (even proud) corruption, despair and hopelessness in the faces of people they see in the increasingly empty streets, and literal shit in the water. What these people have done is unreal.
 
Tanya1982 said:
Good. What took them so long? They've been that for many years. Even when the Tories schemes don't go quite so immediately wrong, the scale and cumulative effects just ensure an eventual backlash that wouldn't be so severe had they not fucked everything so deeply. Tory Brexit Britain - price of everything, value of nothing.

Not many people, including the rich, want to live in a never ending crisis with crumbling infrastructure, a deteriorating public realm, naked (even proud) corruption, despair and hopelessness in the faces of people they see in the increasingly empty streets, and literal shit in the water. What these people have done is unreal.
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They actually don't give a fuck for anyone except themselves and their mates (yes i know I'm repeating myself somewhat), but the sooner everyone realises the UK is being 'run' by a criminal cartel the better.
 
Tanya1982 said:
Good. What took them so long? They've been that for many years. Even when the Tories schemes don't go quite so immediately wrong, the scale and cumulative effects just ensure an eventual backlash that wouldn't be so severe had they not fucked everything so deeply. Tory Brexit Britain - price of everything, value of nothing.

Not many people, including the rich, want to live in a never ending crisis with crumbling infrastructure, a deteriorating public realm, naked (even proud) corruption, despair and hopelessness in the faces of people they see in the increasingly empty streets, and literal shit in the water. What these people have done is unreal.
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www.theguardian.com

Liz Truss ‘promised chief of staff next Tory election campaign in exchange for No 10 job’

Exclusive: Senior Conservatives warn ‘quid pro quo’ arrangement with Mark Fullbrook spells ‘electoral doom’
www.theguardian.com www.theguardian.com

Almost as if go back to your contiuenciws and prepare for opposition...
 
Breaking news..
Ño10 has said truss and kwarteng will not be making a statement on the £ as they don't comment on market movements.
They just fuck it up and say nowt then. 🤷‍♀️
 
killer b said:
Anonymous briefing to journalists by a handful of disaffected MPs isn't an indication of a crisis in the leadership - it's an attempt to create a crisis.
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At the very minimum its a reflection of the fact that unlike other recent leaders, Truss has made no attempt to pretend to be interested in uniting the party. Not via the choice of ministers, not via policy, not via rhetoric.

Combine this with how much of a spent force the tories seem to be at this stage, and the acute crises that are in play with the economy and energy, and there is the potential for drama that goes well beyond some party disunity shit-stirring in the media. I would agree that there are limits as to how much we should read into it right now, but should certainly keep in mind the potential for this stuff to explode very quickly if no sensible grip on the crisis seems to be on the cards.

The phrase headbangers is now present, eg:

Sky political editor Beth Rigby has been sounding out Conservative MPs after the pound touched a record low against the dollar, and investors bet on interest rates passing 6% next year.

Speaking about the mini-budget, one senior Tory MP told her: "What are the fiscal rules?

"How can markets be expected to come to a settled view if there's no framework for the size of borrowing [or a] timeframe on growth is set out by the Treasury?

"I think on the politics of it, the headbanger brigade love top line tax cut narrative, but don't get that cost of borrowing is a line item we can't ignore."
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Some of the live rolling news today look a bit like they were anticipating the pound falling further once european markets opened, instead of recovering a bit from the record breaking lows that happened when the asian markets were the only ones awake. But even if the slight recovery holds today, it will take far more than that to change the narrative. Even our dull media are not going to ignore the fact that some very basic rules that underpin the pretence of economic credibility have been shamelessly shredded, and the potential for perilous precipice plunges is very much heightened as a result.
 
Calamity1971 said:
Breaking news..
Ño10 has said truss and kwarteng will not be making a statement on the £ as they don't comment on market movements.
They just fuck it up and say nowt then. 🤷‍♀️
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But, more importantly, they're not denying a BoE statement today. The markets want their pound of flesh and the shorters must be licking their lips...

1664194523276.png
 
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Calamity1971 said:
He'll be rolling around on the floor with a stitch.
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I'm not an economist but it was fairly clear to me her policies were batshit. Can't believe we have a system where someone as obviously thick as she is is elected by 170,000 gammons to run the country. If an MP is tossed out for whatever reason we have a by-election. Of the whole electorate. Why not when a PM is deposed? Coz I'm fairly sure Truss would not be PM if this had been put to a general vote.
 
What's wrong with Labour? How have the Tories been able to hang onto power for 12 years? Do they really have that much support from the British public or has Labour just been ineffective at getting their message out?
 
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