Cost of Living.

[Blue Flu 896]

12 hours ago, Robert Dyson said:

Do you still stand by that, because I heard one of the densest interviews I have ever heard on Radio Leeds this morning? 

She has stuffed the entire country in a month, and for 2 weeks of that she did nothing! Absolutely appalling.

A  complete shocker. Long gaps in responses and not onto the detail. I can only imagine a lot of Torries not happy that she is guaranteed to keep her position for at least one year under the rules. 

[Blue Flu 896]

11 hours ago, s713 said:

She's appalling. I can't fathom how she was ever elected an an MP, let alone PM. Madness.

It is difficult to conclude why. I can only think of the final result was based on disgruntlement of her competitor in turning on Boris Johnson. But how Truss got to be one of the last two standing is impossible to gauge.  Obviously many of those that allowed this to happen must (should) be wondering how they were so influenced to vote for such a poor choice in future leader. 

[Lavers 1,297]

3 hours ago, Blue Flu said:

It is difficult to conclude why. I can only think of the final result was based on disgruntlement of her competitor in turning on Boris Johnson. But how Truss got to be one of the last two standing is impossible to gauge.  Obviously many of those that allowed this to happen must (should) be wondering how they were so influenced to vote for such a poor choice in future leader. 

Maybe not many wanted it to start with.

Not the easiest time for someone to be PM.

[can1983 278]

Ok so im clearly out of touch with UK politics but she's only been in the job 3 weeks so how can the new PM be responsible for stuffing up the country already?

[Marisawright 10,066]

24 minutes ago, can1983 said:

Ok so im clearly out of touch with UK politics but she's only been in the job 3 weeks so how can the new PM be responsible for stuffing up the country already?

She and her treasurer issued a mini-budget which caused a financial meltdown.

https://www.politico.eu/article/liz-truss-honeymoon-canceled-as-pound-plummets-and-uk-borrowing-costs-soar/

Edited September 30, 2022 by Marisawright

[Parley 7,204]

44 minutes ago, Marisawright said:

She and her treasurer issued a mini-budget which caused a financial meltdown.

https://www.politico.eu/article/liz-truss-honeymoon-canceled-as-pound-plummets-and-uk-borrowing-costs-soar/

You realise that that is just some people's reaction to her policy. The impacts of her policy are yet to be felt.

I saw a commentator say that everytime the top tier of taxation has been cut the overall tax payments to the government actually go up. I don't think a knee jerk hissy fit by the markets is a true reflection of whether the policy is a good one or not.

[newjez 10,749]

2 hours ago, Marisawright said:

She and her treasurer issued a mini-budget which caused a financial meltdown.

https://www.politico.eu/article/liz-truss-honeymoon-canceled-as-pound-plummets-and-uk-borrowing-costs-soar/

Triggered, not caused.

There is a difference.

[newjez 10,749]

12 hours ago, Cup Final 1973 said:

I hold no particular brief for Liz Truss.  I was simply objecting to the expression « thick as mince »

Mince ain't that thick 

[newjez 10,749]

6 hours ago, Blue Flu said:

It is difficult to conclude why. I can only think of the final result was based on disgruntlement of her competitor in turning on Boris Johnson. But how Truss got to be one of the last two standing is impossible to gauge.  Obviously many of those that allowed this to happen must (should) be wondering how they were so influenced to vote for such a poor choice in future leader. 

Probably more to do with the colour of his skin. It's a shame in this day and age, but it is what it is.

[newjez 10,749]

1 hour ago, Parley said:

You realise that that is just some people's reaction to her policy. The impacts of her policy are yet to be felt.

I saw a commentator say that everytime the top tier of taxation has been cut the overall tax payments to the government actually go up. I don't think a knee jerk hissy fit by the markets is a true reflection of whether the policy is a good one or not.

Not when entering a recession parley. It wouldn't have been too bad if it was a budget to exit a recession. But burning petrol when you've still got the brakes on full is beyond foolish and wasteful. Her timing is awful and it shows she has no idea were the country or the world is economically. That's why the markets punished her.

[newjez 10,749]

1 hour ago, Parley said:

You realise that that is just some people's reaction to her policy. The impacts of her policy are yet to be felt.

I saw a commentator say that everytime the top tier of taxation has been cut the overall tax payments to the government actually go up. I don't think a knee jerk hissy fit by the markets is a true reflection of whether the policy is a good one or not.

Finally she is meeting with the OBR. This should have happened before hand, and you have to question why is wasn't. Was it a deliberate attempt to elude scrutiny? How she thought she could get away with that I don't know.

Or did she forget to get her sums checked? If so, with the economy at such a fragile position, you have to ask questions here.

I don't think inexperience can be an excuse, as she is one of the longest serving ministers and has held high office.

I really struggle to find reasons why she would have followed this course of action. The only reasonable explanation I can think of is that she did it on purpose knowing the outcome, because her backers made financial bets on the outcome. There were winners as well as lossers during this upheaval.

So she is either

1. Stupid and naive 

2. Dishonest with a good intentions 

3. Dishonest with corrupt intentions 

Take your pick.

 

 

 

 

 

[FirstWorldProblems 1,594]

2 hours ago, Parley said:

You realise that that is just some people's reaction to her policy. The impacts of her policy are yet to be felt.

- 42% of mortgage products removed from the market

- mortgage costs gone uo

- pound crashed, which drives up prices for a country that is a net importer

- foreign investors taking their money out of the UK

- BofE spending £65bn to prevent a total collapse

If that’s not the full impact then god help us. 
 

If we assume for a moment that the economic policy of Truss and KK is not “fantasy economics” as Rishi Sunak labelled it during the election debates, but is instead a brilliant policy that will result in  positive benefit for the country.……then we are forced to accept the utter failure of LT & KK to understand that economic policy sits within an ecosystem and a shift causes a reaction.  Having the most brilliant policy in the world is worthless if everyone else is not intelligent enough to understand it and reacts as if it is awful, thus in fact making it awful.  The market reacts as the market reacts, not how they wish it would.  They ignored the warnings, they failed to get guidance from the OBR and as a result it’s been a disaster. 

So whether it’s the policy that’s awful or the handling of its announcement that’s awful, the result is the same. Awful. 

There’s no defending that nor shifting the blame to others.

[Blue Flu 896]

5 hours ago, can1983 said:

Ok so im clearly out of touch with UK politics but she's only been in the job 3 weeks so how can the new PM be responsible for stuffing up the country already?

Policy. Lowering taxes for the extreme well healed and more the case of borrowing heavily to pay for energy subsidisation. She would not go after the suppliers who are making billions. Made life very hard for Bank of England which has had to intervene at huge cost. Further will aggravate interest rates levels to higher levels than probably anticipated. 

[Blue Flu 896]

4 hours ago, Parley said:

You realise that that is just some people's reaction to her policy. The impacts of her policy are yet to be felt.

I saw a commentator say that everytime the top tier of taxation has been cut the overall tax payments to the government actually go up. I don't think a knee jerk hissy fit by the markets is a true reflection of whether the policy is a good one or not.

No stimulation is not wanted in times of inflation. Quite the opposite. It will mean higher interest rates and Bank of England working against government policy. 

[Blue Flu 896]

1 hour ago, FirstWorldProblems said:

- 42% of mortgage products removed from the market

- mortgage costs gone uo

- pound crashed, which drives up prices for a country that is a net importer

- foreign investors taking their money out of the UK

- BofE spending £65bn to prevent a total collapse

If that’s not the full impact then god help us. 
 

If we assume for a moment that the economic policy of Truss and KK is not “fantasy economics” as Rishi Sunak labelled it during the election debates, but is instead a brilliant policy that will result in  positive benefit for the country.……then we are forced to accept the utter failure of LT & KK to understand that economic policy sits within an ecosystem and a shift causes a reaction.  Having the most brilliant policy in the world is worthless if everyone else is not intelligent enough to understand it and reacts as if it is awful, thus in fact making it awful.  The market reacts as the market reacts, not how they wish it would.  They ignored the warnings, they failed to get guidance from the OBR and as a result it’s been a disaster. 

So whether it’s the policy that’s awful or the handling of its announcement that’s awful, the result is the same. Awful. 

There’s no defending that nor shifting the blame to others.

No understanding but overcome by ideological philosophy. Many Tories are not happy. Be interesting to see if Truss can last longer than the year that she is guaranteed.  

[s713 1,949]

The Govt won't apply a fresh windfall tax (instead rewarding profit-making suppliers) and won't tax the rich (instead giving them tax breaks).

They're going to borrow a shit ton of cash that the Average Joe will have to repay.

Because this ridiculous policy of wealth disparity and reckless spending has upset the markets, the OBR, the BoE, the US and indeed the IMF, the BoE has been forced to use £65B of its reserves to prevent economic collapse. These reserves are funded by, guess who? Yes, the same Average Joe as mentioned above.

And all the time KamiKwasi and his mates are making a fortune.

[simmo 21,400]

... a lot of politics being banded about in here.  I'm actuallt feeling rater triggered.

 

 

[newjez 10,749]

21 hours ago, Blue Flu said:

A  complete shocker. Long gaps in responses and not onto the detail. I can only imagine a lot of Torries not happy that she is guaranteed to keep her position for at least one year under the rules. 

I'm not sure she is protected for a year.

The rules say you can't have another vote of no confidence against the same prime minister for a year.

But truss hasn't had a vote of no confidence against her.

So they could do one anytime I think.

[Parley 7,204]

21 hours ago, newjez said:

Finally she is meeting with the OBR. This should have happened before hand, and you have to question why is wasn't. Was it a deliberate attempt to elude scrutiny? How she thought she could get away with that I don't know.

Or did she forget to get her sums checked? If so, with the economy at such a fragile position, you have to ask questions here.

I don't think inexperience can be an excuse, as she is one of the longest serving ministers and has held high office.

I really struggle to find reasons why she would have followed this course of action. The only reasonable explanation I can think of is that she did it on purpose knowing the outcome, because her backers made financial bets on the outcome. There were winners as well as lossers during this upheaval.

So she is either

1. Stupid and naive 

2. Dishonest with a good intentions 

3. Dishonest with corrupt intentions 

Take your pick.

 

 

 

 

 

You know she isn't the Chancellor?

[Marisawright 10,066]

25 minutes ago, Parley said:

You know she isn't the Chancellor?

However these are the policies she said she would pursue when she was campaigning to be leader and she's taken strong ownership of them. 

[newjez 10,749]

2 hours ago, Marisawright said:

However these are the policies she said she would pursue when she was campaigning to be leader and she's taken strong ownership of them. 

Well at least we've worked something out from all this mess. An idiot that knows they are an idiot does less damage to the country than an idiot that doesn't.

[newjez 10,749]

3 hours ago, Parley said:

You know she isn't the Chancellor?

It was the campaign she ran on parley. Rob from the poor and give to the rich. Oh, that and the magic money tree that she found. I really don't know why you support her. She demonstrates all the fiscal irresponsibility that you always accuse labour of. 

[Robert Dyson 724]

 

[Blue Flu 896]

22 hours ago, s713 said:

The Govt won't apply a fresh windfall tax (instead rewarding profit-making suppliers) and won't tax the rich (instead giving them tax breaks).

They're going to borrow a shit ton of cash that the Average Joe will have to repay.

Because this ridiculous policy of wealth disparity and reckless spending has upset the markets, the OBR, the BoE, the US and indeed the IMF, the BoE has been forced to use £65B of its reserves to prevent economic collapse. These reserves are funded by, guess who? Yes, the same Average Joe as mentioned above.

And all the time KamiKwasi and his mates are making a fortune.

Kamakazi has a lot to answer for . Still a nice position guaranteed on a Board or similar when the wheels fall off.  Housing likely to become the tipping point for many, if as seems likely, interest rates will keep going up. 

[Blue Flu 896]

6 hours ago, Parley said:

You know she isn't the Chancellor?

True but the position she holds is what exactly, again?  She failed and repeated the error on radio on the energy capping.