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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.
"Am I the only one who is uncomfortable about the idea of the bank of England printing money to give to private pension funds? What other investments are they planning to bail out in future?
As for the affordability of public pensions, the issue is that a lot of them are index linked so are going up a lot faster than the wages of the people being taxed to pay for them. Also you have a situation where the people paying for them are never going to get the same deal when it's their turn.
I know some on defined benefit public sector pensions that are getting a £5k rise in it this year, that's more than someone on minimum wage will get in total for their pension if they even get to retire. It feels unfair and unsustainable."
Your not alone, I find it quite amazing. Isnt there a standard message that the value of investments can go down as well as up> if we choose to live with free market economics then we have to expect there will be dips as well as peaks.
The 19.2 billion the BOE have just spent propping up gilts could have bought us approx 190 HS2 projects or equivalent infrastructure projects. Imagine if that money has been invested in green energy, water utility upgrades, railways and other transport upgrades
as a society we are generally being robbed blind whilst being dazed and confused by misdirection from the government and institutions
I dont want to be seen as nit picking but i think you will find that the 19.2 billion that the BoE has printed would'nt even pay the whole cost of HS2 let alone 190 of them!
The banks are still printing to infinity,creating more wealth out of nothing and charging ruinous interest rates.We were all told five years ago that when the US national debt hit $20tr the whole shebang would crash and burn.Now it's vomited past $31tr. https://usdebtclock.org/ How long this can go on is anybody's business but like the San Andeas Fault the pressure continues to mount and when everything blows.... Maybe nuclear conflict is an option - "when all else fails they take you to war."
I dont want to be seen as nit picking but i think you will find that the 19.2 billion that the BoE has printed would'nt even pay the whole cost of HS2 let alone 190 of them!
You are of course absolutely right my mistake entirely on that calculation. Apologies.
The song remains the same though just with a few less bridges and wind turbines etc.
How much are they trying to find for projects like hammersmith bridge and similar pending upgrades and repairs, a drop in the ocean by comparison
Watching the announcements coming out at lunchtime with morbid fascination.
Just...wow. What a past few weeks.
I have only heard the details once but the announcement sounded quite pragmatic and realistic. There was even talk of doing something to promote energy conservation.
"Things had started becoming increasingly desperate at Loftus Road but QPR have been handed a massive lifeline and the place has absolutely erupted. it's carnage. It's bedlam. It's 1-1."
I have only heard the details once but the announcement sounded quite pragmatic and realistic. There was even talk of doing something to promote energy conservation.
Thank god we haven't anyone else in. All i can say is that it would definitely, 100% be much much worse if a different approach had been taken by someone else. Thank heavens we are all so fortunate
Just shows that our main stream media are scumbags with no interest in anything other than promoting sensationalist headlines, and the the public who believe what they read in the main stream media (which is a large majority it would seem)are, at very best, naive
Just shows that our main stream media are scumbags with no interest in anything other than promoting sensationalist headlines, and the the public who believe what they read in the main stream media (which is a large majority it would seem)are, at very best, naive
Not to mention a potential massive increase in energy prices next April. I find it laughable. Turkeys voting for Christmas
Have you considered that people might be annoyed with the complete incompetence of the government. They crashed the markets by proposing tax cuts for the super wealthy that were unviable, offered energy support that has now been withdrawn and tax cuts at the lower end that they’ve had to renege on.
How are people supposed to plan financially with such an incompetent government?
The whole process has been an absolute shambles but apparently it’s now the medias fault. I must be living in a parallel universe to some of you.
Have you considered that people might be annoyed with the complete incompetence of the government. They crashed the markets by proposing tax cuts for the super wealthy that were unviable, offered energy support that has now been withdrawn and tax cuts at the lower end that they’ve had to renege on.
How are people supposed to plan financially with such an incompetent government?
The whole process has been an absolute shambles but apparently it’s now the medias fault. I must be living in a parallel universe to some of you.
I have only heard the details once but the announcement sounded quite pragmatic and realistic. There was even talk of doing something to promote energy conservation.
I suspect that doing something to promote energy conservation means letting prices rise so that people use less.
Just shows that our main stream media are scumbags with no interest in anything other than promoting sensationalist headlines, and the the public who believe what they read in the main stream media (which is a large majority it would seem)are, at very best, naive
Of course we were'nt getting the same government spending + tax cuts,
As Sunak rightly called it 'fairytale economics' and a senior Tory 'flying the plane blind'
The market reacted as it did as these clowns were increasing the government debt by how much they didn't know at a time of rising interest rates, like leaving a large trading bloc at a time the US, China, BRIC economies are all struggling, not great timing.
I'm not sure how much extra in interest payments this had burdened the tax-payer with, given lowering of credit rating, but no doubt runs into billions.
Jeremy Hunt announces new economic advisory council including Rupert Harrison, former chief of staff to George Osborne who is now at investment managers BlackRock.(Larry Fink prop.) Blackrock will be advising the Chancellor on the economic direction of the country... the WEF is getting deeper into the UK govt. So if Blackrock is running the treasury- the WEF also setting the rules the, WHO running health why are we paying £ millions for 650 gormless MP’s? BlackRock are now running the UK on behalf of The Federal Reserve Bank of the United States. I think we are under administration (as in bankrupt). All the covid crap only delayed it for 30 months.
Jeremy Hunt announces new economic advisory council including Rupert Harrison, former chief of staff to George Osborne who is now at investment managers BlackRock.(Larry Fink prop.) Blackrock will be advising the Chancellor on the economic direction of the country... the WEF is getting deeper into the UK govt. So if Blackrock is running the treasury- the WEF also setting the rules the, WHO running health why are we paying £ millions for 650 gormless MP’s? BlackRock are now running the UK on behalf of The Federal Reserve Bank of the United States. I think we are under administration (as in bankrupt). All the covid crap only delayed it for 30 months.
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