| The Pound 13:57 - Sep 24 with 97993 views | Stanmiguel |
Well, the money markets didn't like the mini budget.
I met Liz Truss in a hotel in Monmouth a few years ago.
She said her solution to pensioner poverty would be to feed them on Pedigree Chum.
Not only would this save a lot of money, it would give them shiny coats and a nice cold nose. |  | | |  |
| The Pound on 16:10 - Sep 26 with 3423 views | Stanmiguel |
People are saying we are becoming a banana republic but that's really unfair. On the other banana republics. | | | |
| The Pound on 16:27 - Sep 26 with 3357 views | themodfather |
whatever happens, the rich will get richer and the rest of us will pay for it, one way or another.... | | | |
| The Pound on 17:24 - Sep 26 with 3260 views | QPR_Jim |
| The Pound on 15:43 - Sep 26 by QPR_John |
Labour locked in darken offices working out how to criticise any u-turn should it happen. Always good to be prepared |
I imagine it's more like a improv buzzer round where people come up with valid criticisms of this shambles of a government off the top of their head. It's not exactly like the government are attempting to hide their ineptitude. |  | | |
| The Pound on 18:30 - Sep 26 with 3124 views | traininvain |
Conservative peer Lord Frost has described the response to the mini-budget last Friday as "unwarranted" and an "overreaction".
The arrogance of these people is almost impressive. |  | | |
| The Pound on 19:46 - Sep 26 with 2974 views | Sakura |
The lack of introspection on this thread is why this country is on its way to ruin.
It reminds me of that Mitchell and Webb sketch as Germans in WW2 when they question, “are we the baddies?”
Was it the British public that demanded ever more money for free. That the government spend beyond its means year after year after year leaving the bill for the next generation. That we endorsed paying healthy people in their 20’s and 30’s thousands of pounds to stay at home as we shut down the economy and then be surprised when consequences follow
The government has given a £2,000,000,000 reduction in tax for top rate earners. This is to encourage top end jobs to stay here and not disappear abroad in this work from home world. That money will then be largely spent in the economy and circle back around anyway
That £2,000,000,000 of tax cuts should be put in the context of our national debt of £2,400,000,000,000 so it’s about 0.08% of that
If you want to arouse yourself with abusing Truss like it’s all her fault suddenly
I can’t imagine those pointing the finger elsewhere like if another path they had endorsed had been followed we wouldn’t be in this mess and spending more a year in interest payments than on our Education system. Has any of those moaning like they have the answers ever spent any time complaining that the government is running up too much debt in funding our healthcare and welfare system in an unsustainable way and that our response to Covid was ridiculously and dangerously cautious and this puts in danger to the extreme our future ability to have anywhere close to the same standard of living
Those that said lockdowns were doing more harm than good were abused and told they were callous and didn’t care about their granny. If that was your attitude during lockdown abusing such people then you are as much to blame as any politician who pandered to your short sightedness
The pound is crashing as we have a society that won’t accept risk, that thinks short term, that feels they are entitled to public services beyond our means and that any issue the government should just create more money and everything will be fine
We’re going to find out this decade that isn’t the case and as a society we deserve whats coming and brought it on ourselves. My hope is that our politics stays as close to the centre as possible and we find a rational way out
Unfortunately I think history shows that’s going to be tough. Plus the added risk factor of Klaus Schwab and his buddies as well | | | |
| The Pound on 20:15 - Sep 26 with 2908 views | plasmahoop |
I can't believe how stupid they have been in this budget. Straight in, no subtlety and unbelievably naive politically.
I think the reaction of the markets shows though how right Cameron and osborne were with the austerity measures from 2010. They managed to keep the interest rate on the debt low, our credit rating good, and steadily reduced the deficit. Unfortunately since the coalition the tories have shown themselves incapable of governing on their own, getting worse with every prime minister. The irony is though after whingeing like hell in the 2010s about tory cuts Labour will have to do them next time. Its going to be grim | | | |
| The Pound on 20:25 - Sep 26 with 2877 views | The_Beast1976 |
| The Pound on 09:05 - Sep 26 by Watford_Ranger |
Corrupt. Not inept.
This currency crash is intentional. They’re doing it right in front of us and being cheered on by the Mail etc. |
Agreed.
Covid 'pandemic' was phase 1
Ukraine 'war' phase 2
Now into phase 3 | | | |
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| The Pound on 20:34 - Sep 26 with 2854 views | plasmahoop |
| The Pound on 20:25 - Sep 26 by The_Beast1976 |
Agreed.
Covid 'pandemic' was phase 1
Ukraine 'war' phase 2
Now into phase 3 |
It is conceivable that the tories crashed the currency for their own ends, but not the pandemic or the Ukraine war. Conspiracy theories gone mad! | | | |
| The Pound on 21:37 - Sep 26 with 2747 views | CliveWilsonSaid |
| The Pound on 20:34 - Sep 26 by plasmahoop |
It is conceivable that the tories crashed the currency for their own ends, but not the pandemic or the Ukraine war. Conspiracy theories gone mad! |
Phase one and phase two wasn't the tories.
It was the Globalist elites! |  |
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| The Pound on 21:44 - Sep 26 with 2706 views | BucksRanger |
| The Pound on 21:37 - Sep 26 by CliveWilsonSaid |
Phase one and phase two wasn't the tories.
It was the Globalist elites! |
Phases one and two were China and Russia. Not sure I'd call either 'elite'. |  | | |
| The Pound on 22:13 - Sep 26 with 2644 views | Wilkinswatercarrier |
| The Pound on 19:46 - Sep 26 by Sakura |
The lack of introspection on this thread is why this country is on its way to ruin.
It reminds me of that Mitchell and Webb sketch as Germans in WW2 when they question, “are we the baddies?”
Was it the British public that demanded ever more money for free. That the government spend beyond its means year after year after year leaving the bill for the next generation. That we endorsed paying healthy people in their 20’s and 30’s thousands of pounds to stay at home as we shut down the economy and then be surprised when consequences follow
The government has given a £2,000,000,000 reduction in tax for top rate earners. This is to encourage top end jobs to stay here and not disappear abroad in this work from home world. That money will then be largely spent in the economy and circle back around anyway
That £2,000,000,000 of tax cuts should be put in the context of our national debt of £2,400,000,000,000 so it’s about 0.08% of that
If you want to arouse yourself with abusing Truss like it’s all her fault suddenly
I can’t imagine those pointing the finger elsewhere like if another path they had endorsed had been followed we wouldn’t be in this mess and spending more a year in interest payments than on our Education system. Has any of those moaning like they have the answers ever spent any time complaining that the government is running up too much debt in funding our healthcare and welfare system in an unsustainable way and that our response to Covid was ridiculously and dangerously cautious and this puts in danger to the extreme our future ability to have anywhere close to the same standard of living
Those that said lockdowns were doing more harm than good were abused and told they were callous and didn’t care about their granny. If that was your attitude during lockdown abusing such people then you are as much to blame as any politician who pandered to your short sightedness
The pound is crashing as we have a society that won’t accept risk, that thinks short term, that feels they are entitled to public services beyond our means and that any issue the government should just create more money and everything will be fine
We’re going to find out this decade that isn’t the case and as a society we deserve whats coming and brought it on ourselves. My hope is that our politics stays as close to the centre as possible and we find a rational way out
Unfortunately I think history shows that’s going to be tough. Plus the added risk factor of Klaus Schwab and his buddies as well |
Sorry, but I dont understand your point. The reason the UK debt is so big is primarily due to the massive bailout back in 2008 of the banking system.
So now they are scrapping 45% tax band and scrapping bank bonus caps. You couldn't make it up! And the reason they are scrapping it is to compete with NY, nothing to do with working from home culture.
Does someone earning over £150k p/a really need a tax break? Absolute rubbish to say it will trickle down. The only thing that money will go on is foreign holidays and private education.
Regardless of what the % of the tax cut compared to the National Debt is, it is simply morally wrong. It will be the lowest paid who are going to suffer most from runaway inflation.
2 weeks in the job, incredible. | | | |
| The Pound on 22:17 - Sep 26 with 2627 views | colinallcars |
Just out of interest….which Prime Minister had the shortest tenure in office in British history ?
Liz Truss has a fine chance of breaking the record. |  | | |
| The Pound on 22:24 - Sep 26 with 2587 views | CliveWilsonSaid |
| The Pound on 21:44 - Sep 26 by BucksRanger |
Phases one and two were China and Russia. Not sure I'd call either 'elite'. |
Sorry the 'elite' bit was meant slightly tongue in cheek...
Well at least 'the west' are entirely blameless anyway! | |
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| The Pound on 23:07 - Sep 26 with 2480 views | CamberleyR |
| The Pound on 22:17 - Sep 26 by colinallcars |
Just out of interest….which Prime Minister had the shortest tenure in office in British history ?
Liz Truss has a fine chance of breaking the record. |
George Canning, 119 days in 1827. Died in office. |  |
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| The Pound on 05:02 - Sep 27 with 2284 views | The_Beast1976 |
| The Pound on 21:37 - Sep 26 by CliveWilsonSaid |
Phase one and phase two wasn't the tories.
It was the Globalist elites! |
They are taking out the middle and working classes in the West, along with the existing monetary system, and starting over. Can people still not see this? It's right in front of you all.
Liz Truss is the WEF candidate. It's in black and white right here https://www.weforum.org/people/liz-truss Nobody can genuinely be as incompetant as she looks right now. It's not that difficult to join in the dots, surely....
None of this will matter anyway if America has its way and the West ends up in a nuclear war with Russia over the course of the next week or so [Post edited 27 Sep 2022 7:07]
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| The Pound on 07:24 - Sep 27 with 2157 views | PunteR |
| The Pound on 05:02 - Sep 27 by The_Beast1976 |
They are taking out the middle and working classes in the West, along with the existing monetary system, and starting over. Can people still not see this? It's right in front of you all.
Liz Truss is the WEF candidate. It's in black and white right here https://www.weforum.org/people/liz-truss Nobody can genuinely be as incompetant as she looks right now. It's not that difficult to join in the dots, surely....
None of this will matter anyway if America has its way and the West ends up in a nuclear war with Russia over the course of the next week or so [Post edited 27 Sep 2022 7:07]
|
Or the next week or so.... ?
Nuclear war..?
Typical.
Just when we get a decent manager in. |  |
| Occasional providers of half decent House music. |
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| The Pound on 07:34 - Sep 27 with 2137 views | Sakura |
| The Pound on 22:13 - Sep 26 by Wilkinswatercarrier |
Sorry, but I dont understand your point. The reason the UK debt is so big is primarily due to the massive bailout back in 2008 of the banking system.
So now they are scrapping 45% tax band and scrapping bank bonus caps. You couldn't make it up! And the reason they are scrapping it is to compete with NY, nothing to do with working from home culture.
Does someone earning over £150k p/a really need a tax break? Absolute rubbish to say it will trickle down. The only thing that money will go on is foreign holidays and private education.
Regardless of what the % of the tax cut compared to the National Debt is, it is simply morally wrong. It will be the lowest paid who are going to suffer most from runaway inflation.
2 weeks in the job, incredible. |
The cost of bailing out the banks (which I agree was wrong in the way it was done) was £30 billion. As gov was repaid loans and in the form of shares sold as well to get money down to that
The Furlough scheme cost more than double the banks costs at £70 billion so your mistaken in what you say there. Also it had a much deeper problem of interrupting supply chains etc
While the energy bailout is £130 billion so more than 4 times the bank bailouts!!! And it’s going to be needed again next year
But our total debt is £2.4 trillion (which doesn't include unfunded pension promises) and that is spent on paying for public services beyond our means
So you can't blame just the bank bailouts. Or even just the furlough scheme. But for me the furlough scheme is a perfect example of the short sighted self entitled ignorant nature of the British public as it's the culture of expecting everything and not worrying about how it's paid for isn't even a consideration. It's not your problem, well that was true... until it isn't anymore
To put our national debt in context. To repay that money that it is today and we were to repay £10 million everyday more than we spend on services it would take us 657 years of doing that
So we would need severe austerity until the year 2679 and for everyday of those 657 years we are paying £10 million more than we spend!!! That’s why the pound is collapsing as the trust in fiat currency system is collapsing and hard assets and not imaginary money is where it’s going [Post edited 27 Sep 2022 7:53]
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| The Pound on 07:40 - Sep 27 with 2123 views | distortR |
| The Pound on 07:24 - Sep 27 by PunteR |
Or the next week or so.... ?
Nuclear war..?
Typical.
Just when we get a decent manager in. |
ahhh, you're losing me now.
You need to stick to your core values, and reinforce the main tenet of your argument - pub! | | | |
| The Pound on 08:06 - Sep 27 with 2048 views | traininvain |
| The Pound on 05:02 - Sep 27 by The_Beast1976 |
They are taking out the middle and working classes in the West, along with the existing monetary system, and starting over. Can people still not see this? It's right in front of you all.
Liz Truss is the WEF candidate. It's in black and white right here https://www.weforum.org/people/liz-truss Nobody can genuinely be as incompetant as she looks right now. It's not that difficult to join in the dots, surely....
None of this will matter anyway if America has its way and the West ends up in a nuclear war with Russia over the course of the next week or so [Post edited 27 Sep 2022 7:07]
|
How would it benefit the US to have a nuclear war with Russia?
All bets would be off in this scenario and most of the world would be destroyed. | | | |
| The Pound on 08:36 - Sep 27 with 1982 views | PlanetHonneywood |
| The Pound on 19:46 - Sep 26 by Sakura |
The lack of introspection on this thread is why this country is on its way to ruin.
It reminds me of that Mitchell and Webb sketch as Germans in WW2 when they question, “are we the baddies?”
Was it the British public that demanded ever more money for free. That the government spend beyond its means year after year after year leaving the bill for the next generation. That we endorsed paying healthy people in their 20’s and 30’s thousands of pounds to stay at home as we shut down the economy and then be surprised when consequences follow
The government has given a £2,000,000,000 reduction in tax for top rate earners. This is to encourage top end jobs to stay here and not disappear abroad in this work from home world. That money will then be largely spent in the economy and circle back around anyway
That £2,000,000,000 of tax cuts should be put in the context of our national debt of £2,400,000,000,000 so it’s about 0.08% of that
If you want to arouse yourself with abusing Truss like it’s all her fault suddenly
I can’t imagine those pointing the finger elsewhere like if another path they had endorsed had been followed we wouldn’t be in this mess and spending more a year in interest payments than on our Education system. Has any of those moaning like they have the answers ever spent any time complaining that the government is running up too much debt in funding our healthcare and welfare system in an unsustainable way and that our response to Covid was ridiculously and dangerously cautious and this puts in danger to the extreme our future ability to have anywhere close to the same standard of living
Those that said lockdowns were doing more harm than good were abused and told they were callous and didn’t care about their granny. If that was your attitude during lockdown abusing such people then you are as much to blame as any politician who pandered to your short sightedness
The pound is crashing as we have a society that won’t accept risk, that thinks short term, that feels they are entitled to public services beyond our means and that any issue the government should just create more money and everything will be fine
We’re going to find out this decade that isn’t the case and as a society we deserve whats coming and brought it on ourselves. My hope is that our politics stays as close to the centre as possible and we find a rational way out
Unfortunately I think history shows that’s going to be tough. Plus the added risk factor of Klaus Schwab and his buddies as well |
Hasn't 'trickle down economics' been largely debunked by nobel prize winning economist, Joseph Stiglitz?
Plus I read or saw an article showing that the spending habits of richer people is more likely to result in the acquisition of more foreign made products than home made goods.
And let's not ignore the fact that while many banks might headquarter operations here, they will look to offshore as much back-of-house operations as possible. I had a cousin made redundant when HSBC moved much of its UK private banking operation to the Philippines a few years back.
Thus, expecting swathes of jobs to be created at the same time as bankers are buying British with gusto, is equally optimistic.
I think the general reaction from across a wide spectrum, including far more knowledgeable individuals and bodies than I, is that this budget is not what the UK really needs right now. |  |
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| The Pound on 09:19 - Sep 27 with 1918 views | Maggsinho |
| The Pound on 08:06 - Sep 27 by traininvain |
How would it benefit the US to have a nuclear war with Russia?
All bets would be off in this scenario and most of the world would be destroyed. |
From what I read at the weekend, any use by Russia of nuclear weapons in Ukraine would be punished by conventional weapons so there's no planning for nuclear war by the US. |  | | |
| The Pound on 09:50 - Sep 27 with 1856 views | 100percent |
| The Pound on 19:46 - Sep 26 by Sakura |
The lack of introspection on this thread is why this country is on its way to ruin.
It reminds me of that Mitchell and Webb sketch as Germans in WW2 when they question, “are we the baddies?”
Was it the British public that demanded ever more money for free. That the government spend beyond its means year after year after year leaving the bill for the next generation. That we endorsed paying healthy people in their 20’s and 30’s thousands of pounds to stay at home as we shut down the economy and then be surprised when consequences follow
The government has given a £2,000,000,000 reduction in tax for top rate earners. This is to encourage top end jobs to stay here and not disappear abroad in this work from home world. That money will then be largely spent in the economy and circle back around anyway
That £2,000,000,000 of tax cuts should be put in the context of our national debt of £2,400,000,000,000 so it’s about 0.08% of that
If you want to arouse yourself with abusing Truss like it’s all her fault suddenly
I can’t imagine those pointing the finger elsewhere like if another path they had endorsed had been followed we wouldn’t be in this mess and spending more a year in interest payments than on our Education system. Has any of those moaning like they have the answers ever spent any time complaining that the government is running up too much debt in funding our healthcare and welfare system in an unsustainable way and that our response to Covid was ridiculously and dangerously cautious and this puts in danger to the extreme our future ability to have anywhere close to the same standard of living
Those that said lockdowns were doing more harm than good were abused and told they were callous and didn’t care about their granny. If that was your attitude during lockdown abusing such people then you are as much to blame as any politician who pandered to your short sightedness
The pound is crashing as we have a society that won’t accept risk, that thinks short term, that feels they are entitled to public services beyond our means and that any issue the government should just create more money and everything will be fine
We’re going to find out this decade that isn’t the case and as a society we deserve whats coming and brought it on ourselves. My hope is that our politics stays as close to the centre as possible and we find a rational way out
Unfortunately I think history shows that’s going to be tough. Plus the added risk factor of Klaus Schwab and his buddies as well |
So, just for clarity here.... This is our fault?
It's our fault for paying our taxes and NI contributions and watching them being mismanaged and misappropriated on a grand scale?
I can't say that I remember any politician from either side 'pandering' to any members of the public. All I remember is sections of the governing party lining their own pockets at a whim and at our expense.
But of course, this is all our fault...... |  | | |
| The Pound on 10:19 - Sep 27 with 1775 views | Tonto |
Trickle down economics. the theory thats worked superbly in... er... um... yeah whatever, its worth another shot. |  |
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