The Official Liz Truss no longer PM but still a Clusterfuck thread

[btb]

25 minutes ago, welshbairn said:

They say capping bankers' bonuses forced firms to raise their salaries overall, to still attract the best people, so removing the cap likely won't make much difference. On the other hand it's likely to encourage more risk taking in the hope of boosting bonuses which was the point of the cap, to prevent another 2008.

Does anyone actually believe they?

Forced - the markets are a semi closed shop (old boys network) given our pension funds to play with and thus deemed too important to control by successive governments, so they set their own rules and laugh in our faces.

[ICTJohnboy]

 

Good that Lizzy now looks like she's joined the anti-growth coalition! 

[Antlion]

28 minutes ago, ICTJohnboy said:

 

Good that Lizzy now looks like she's joined the anti-growth coalition! 

Windsor? I thought she’d joined the decomposition coalition.

[Jacksgranda]

1 hour ago, welshbairn said:

They say capping bankers' bonuses forced firms to raise their salaries overall, to still attract the best people, so removing the cap likely won't make much difference. On the other hand it's likely to encourage more risk taking in the hope of boosting bonuses which was the point of the cap, to prevent another 2008.

Were these the same "best people" in charge in 2008?

[Clown Job]

 

[Florentine_Pogen]

18 minutes ago, Clown Job said:

 

Truss, Braverman & Coffey - all 3 of these idiotic idealogues need to be emptied.

First Witch
When shall we three meet again?
In thunder, lightning, or in rain?

Second Witch
When the hurly-burly’s done,
When the battle’s lost and won.

Third Witch
That will be ere the set of sun.

First Witch
Where the place?

Second Witch
Upon the heath.

Third Witch
There to meet with Macbeth.

[coprolite]

19 minutes ago, Clown Job said:

 

Yas, thought police.

[Salt n Vinegar]

7 minutes ago, coprolite said:

Yas, thought police.

You might THINK that, but I wouldn't recommend it....

[Thane of Cawdor]

27 minutes ago, coprolite said:

Yas, thought police.

Can't be long before Braverman begins to wonder how electorally popular capital punishment might be.

And if my thought-dreams could be seen
They’d probably put my head in a guillotine
But it’s alright, Ma, it’s life, and life only

 

[Lurkst]

It's like when Pink Floyd brought Dave Gilmour in to play guitar for the acid casualty Syd Barrett. 

A couple of weeks later...

"Shall we pick Liz up for the gig tonight?"

"Nah, just leave her."

 

[welshbairn]

1 hour ago, Jacksgranda said:

Were these the same "best people" in charge in 2008?

Certainly, the bigger bonuses the traders earn, the bigger bonuses their directors get. Who cares if it all goes tits up when all your cash is squirrelled away offshore?

[cyderspaceman]

[Clown Job]

 

[Suspect Device]

31 minutes ago, Thane of Cawdor said:

Can't be long before Braverman begins to wonder how electorally popular capital punishment might be.

And if my thought-dreams could be seen
They’d probably put my head in a guillotine
But it’s alright, Ma, it’s life, and life only

 

Not an overwhelming majority but a small majority.

 

[BFTD]

30 minutes ago, Thane of Cawdor said:

Can't be long before Braverman begins to wonder how electorally popular capital punishment might be.

And if my thought-dreams could be seen
They’d probably put my head in a guillotine
But it’s alright, Ma, it’s life, and life only

 

They've been wondering that for decades; the real question is when they'll feel safe enough to float the idea in the public consciousness as a "talking point" that they can deny wanting to implement, before returning to after a few years once the press have done the groundwork of making it acceptable to talk about.

Plus, they'll need to withdraw from the ECHR first, something that's very much on the agenda.

[Leith Green]

1 hour ago, Clown Job said:

 

Braverman is trying desperately to "out nazi" Patel and is - quite remarkably - making a decent fist of it already.

[Florentine_Pogen]

1 minute ago, Leith Green said:

Braverman is trying desperately to "out nazi" Patel and is - quite remarkably - making a decent fist of it already.

[cyderspaceman]

1 hour ago, Clown Job said:

 

 

Pensioners.

Lock 'em up!

[aDONisSheep]

1 hour ago, coprolite said:

We’re already socialising the costs of risks taken by “too big to fail” pension funds who’ve leveraged their positions to boost returns. They want more of this. Big payments to financiers for taking risks with our money.

still, I’m sure the black rock, Jp Morgan and hedge fund bodies on the economic advisory panel will put this right.

Radio vox pops are increasingly terrifying. Where do they get these fuckwits. Barely coherent, no apparent understanding of reality but able to vote.

In fairness to the pension funds, by nature they have to invest in order to pay out pensions (both current and future).  The fundamental problem was that they'd taken 'prudent' investments in the UK Gilts (Gov Bonds), these were seen as stable investments with little volatility.  They gave a 'safe' return with little movement in the underlying value of the bonds (so attracted less hedging costs etc).

They (GILTS) were admittedly coming under pressure as inflation picked up and, the US started raising its interest rates, but still manageable, then...  KamiKwasi said "hold my fackin beer" and spooked the market.  Almost immediately rates rose as a 'moron premium' was required by buyers, which meant that Pension funds had to sell at a discount in order to raise the cash required to pay pensions.  The important thing here is that they HAD to sell, which is a terrible position to be in, this then fuelled a downward price spiral until the BoE stepped in and bought the bonds back.

So in summary the problems didn't stem from investing in high risk/high reward start ups or low credit/fast fluctuating markets.  It came from investing in some of the traditionally most stable parts of the economy.

In the long run, those of us with a bit of time to go before we take our pensions might see a bounce, as our money is currently being invested in higher yield bonds.  But in the short term, it's an absolute Trusstastropy.

Yours

aDONis

 

 

[Clown Job]

Tory UK