Dawson Park Boy Posted September 23, 2022 Share Posted September 23, 2022 15 minutes ago, welshbairn said: They've just dumped the mantra of conservative fiscal policies and gone on a Keynesian borrowing binge. She'll sell the collapsing pound as being great for exports. And for foreign investments in personal and pension portfolios. 0 Quote Link to comment Share on other sites More sharing options...
vikingTON Posted September 23, 2022 Share Posted September 23, 2022 23 minutes ago, Detournement said: Protecting the pound has been the Tory ruling class mantra for the last 100 years. They have put that ahead of every other economic concern at every downturn. The Tories were fully in charge when the pound last reached these record lows (1985) and it was the Tories who ditched the original 'protector of the pound' - the gold standard. You've bought far too much into the party myth on this one. 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 23, 2022 Share Posted September 23, 2022 1 minute ago, DeeTillEhDeh said: That's an insult to Keynes - at least with Keynesian borrow and spend there was usually something tangible at the end on the shape of capital expenditure. This just throwing money at the super rich with a few crumbs given to the rest. It is fucking insane. You don't get it, if you cut taxes for the rich they'll work and invest twice as hard, and with the collapsing pound they'll buy good honest British Morgans instead of Porsches. Everyone's a winner, it can't fail! 0 Quote Link to comment Share on other sites More sharing options...
welshbairn Posted September 23, 2022 Share Posted September 23, 2022 3 minutes ago, Dawson Park Boy said: And for foreign investments in personal and pension portfolios. That as well, big flow of capital abroad on top of all that fled after Brexit. Everything will be marvellous! 1 Quote Link to comment Share on other sites More sharing options...
Theroadlesstravelled Posted September 23, 2022 Share Posted September 23, 2022 This makes Brexit look like a piece of pish. 0 Quote Link to comment Share on other sites More sharing options...
Wile E Coyote Posted September 23, 2022 Share Posted September 23, 2022 Hope Truss's next shite is a hedgehog 1 Quote Link to comment Share on other sites More sharing options...
btb Posted September 23, 2022 Share Posted September 23, 2022 Have the Tories decided the next GE is already lost and taken the decision to cash in now? They're not even pretending to care any more, why anyone who doesn't earn enough to benefit from the cut to the highest level of taxation would vote for them is beyond me. I genuinely believe Labour can only throw it away now. 0 Quote Link to comment Share on other sites More sharing options...
Detournement Posted September 23, 2022 Share Posted September 23, 2022 18 minutes ago, virginton said: The Tories were fully in charge when the pound last reached these record lows (1985) and it was the Tories who ditched the original 'protector of the pound' - the gold standard. You've bought far too much into the party myth on this one. They ditched the Gold Standard after 7 years of trying to defend sterling to the extent of intervention by the Monarch and a government of national unity. They had no choice because Hitler was doing proto MMT and Britain needed to rearm. In the 80s Thatcher crashed the pound while carrying out an economic revolution that massively enriched her backers and had tangible benefits for her voters. The current Tories have crashed the pound due to 12 years of economic illiteracy and have absolutely nothing to show for it. There is no comparison. 1 Quote Link to comment Share on other sites More sharing options...
Salt n Vinegar Posted September 23, 2022 Share Posted September 23, 2022 Yes, it's old git in the corner time... I'm sure I remember a Two Ronnies sketch - maybe during the "and finally" news bit - when Barker stated that the pound had fallen to two point four against the Matabele Gumbo Bean. Not yet maybe, but probably getting closer. 0 Quote Link to comment Share on other sites More sharing options...
Clown Job Posted September 23, 2022 Author Share Posted September 23, 2022 11 minutes ago, btb said: Have the Tories decided the next GE is already lost and taken the decision to cash in now? They're not even pretending to care any more, why anyone who doesn't earn enough to benefit from the cut to the highest level of taxation would vote for them is beyond me. I genuinely believe Labour can only throw it away now. They’ll go all out with the culture war first 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted September 23, 2022 Share Posted September 23, 2022 25 minutes ago, btb said: Have the Tories decided the next GE is already lost and taken the decision to cash in now? They're not even pretending to care any more, why anyone who doesn't earn enough to benefit from the cut to the highest level of taxation would vote for them is beyond me. I genuinely believe Labour can only throw it away now. Yes, I refer you to this post. 7 hours ago, Granny Danger said: Truss the adulteress PM knows the Tories won’t win the next election so is feathering her nest for the next two years. Fracking licences, bankers’ bonuses, moving the embassy in Israel, will all lead to financial kick backs. On a different note, I’m astounded posters are still rabbiting on about Truss being effectively ‘elected’ by a small group of Tory members. If Nicola Sturgeon resigned/dropped dead tomorrow her replacement would be chosen by SNP members, not by theScottish electorate. -1 Quote Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted September 23, 2022 Share Posted September 23, 2022 1 hour ago, Detournement said: Protecting the pound has been the Tory ruling class mantra for the last 100 years. They have put that ahead of every other economic concern at every downturn. Going 1:1 guarantees losing the next election anyway so it might spark a vote of no confidence in Truss from backbenchers who want to try and deflect any blame from themselves. wishing on a star. most Tory backbenchers know they're goosed already and will cling on to privelige and power until obliged to give it up. 0 Quote Link to comment Share on other sites More sharing options...
Michael W Posted September 23, 2022 Share Posted September 23, 2022 Funny, I'd have sworn the Tories' mission was purposely depressing the Pound - this budget and the numerous drops witnessed over the last few years whenever yet more threats over the NI Protocol dispute appear. 0 Quote Link to comment Share on other sites More sharing options...
BFTD Posted September 23, 2022 Share Posted September 23, 2022 2 hours ago, 101 said: Have we ever had parity with either the $ or €? And I assume never at the same time. Kinda/sorta/almost. A while back (possibly around the Brexit vote?) it came very close, and there were some shock-horror headlines that some of the poorer-value airport Bureau de Changes abroad were valuing the Dollar and/or Euro slightly higher than Her Majesty's Great British Pound. It didn't last long. Frankly, economic news has been such an unadulterated shitshow for the past fifteen years that it's hard to remember exactly when this happened, or what in particular caused it. 0 Quote Link to comment Share on other sites More sharing options...
carpetmonster Posted September 23, 2022 Share Posted September 23, 2022 1 minute ago, BFTD said: Kinda/sorta/almost. A while back (possibly around the Brexit vote?) it came very close, and there were some shock-horror headlines that some of the poorer-value airport Bureau de Changes abroad were valuing the Dollar and/or Euro slightly higher than Her Majesty's Great British Pound. It didn't last long. Frankly, economic news has been such an unadulterated shitshow for the past fifteen years that it's hard to remember exactly when this happened, or what in particular caused it. IIRC Brexit caused a big collapse - went from $1.60 odd to $1.25-1.30 overnight - but this is as low as it's gone, certainly as long as I've been paid in USD and had a mortgage in GBP. So the racists made it cheaper first and now a Black bloke has. Calamafucks know no color. 0 Quote Link to comment Share on other sites More sharing options...
Clown Job Posted September 23, 2022 Author Share Posted September 23, 2022 Turns out this Emegency mini budget had nothing to do with the cost of living crisis. Fucking unreal how spineless country, sitting back and doing nothing while the Tories burn the place to the ground. 0 Quote Link to comment Share on other sites More sharing options...
BFTD Posted September 23, 2022 Share Posted September 23, 2022 6 minutes ago, carpetmonster said: IIRC Brexit caused a big collapse - went from $1.60 odd to $1.25-1.30 overnight - but this is as low as it's gone, certainly as long as I've been paid in USD and had a mortgage in GBP. So the racists made it cheaper first and now a Black bloke has. Calamafucks know no color. Looks like it was in the aftermath of the credit crunch - the pound was worth around 97¢ back in 2007/8. There were a bunch of "The Euro is Finished!" articles around that time too. Surely they're due a comeback. 1 Quote Link to comment Share on other sites More sharing options...
BFTD Posted September 23, 2022 Share Posted September 23, 2022 4 minutes ago, Clown Job said: Turns out this Emegency mini budget had nothing to do with the cost of living crisis. Fucking unreal how spineless country, sitting back and doing nothing while the Tories burn the place to the ground. I have a note from my mum, but I'll be along to help lynch the government as soon as this cough clears up. 0 Quote Link to comment Share on other sites More sharing options...
MuckleMoo Posted September 23, 2022 Share Posted September 23, 2022 James O'Brien touches on it here.Make no mistake, this is being orchestrated by the Neoliberal think tanks that have pumped millions into the conservative party. Truss and the rest of her fucking cabinet are up to there necks and beholden to these c***s. My heads well and truly fucking gone. They're not even trying to hide it anymore. 3 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted September 23, 2022 Share Posted September 23, 2022 The U.K. now has the most extreme government since Thatcher’s; maybe even more extreme. 1 Quote Link to comment Share on other sites More sharing options...
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