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The Premiership of Mary Elizabeth Truss.Sept 2022 - Oct 2022

Discussion in 'off topic' started by TheDecameron, Sep 5, 2022.

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  1. wacko

    wacko pfm Member

    ^ there are only 3 pro-Brexit economists.
    sean99, zarniwoop and Sloop John B like this.
  2. Colin L

    Colin L High-tech low-life

    Truss and Kwarteng. Strange bed-fellows indeed. Media being very coy about it all.
  3. laughingboy

    laughingboy pfm Member

    billo likes this.
  4. matt j

    matt j pfm Member

    Is it good or bad that I don't know what either of those are?!
  5. ks.234

    ks.234 pfm Member

    Excellent. Matthew Lesh, Head of Public Policy at the IEA is certainly a clown. Anyone who counters with arguments about “Venezula” and “printing money” is clearly talking bollocks. Also interesting that he couldn’t say who funds the IEA.

    These neo classic economic clowns always start from assumptions, this one is that tax cuts stimulate investment. That fact that it doesn’t is irrelevant to them, they have a theory and everything has to fit that. The people do not work from observation. If these people wanted to work out how a horse works, they’d sit in their office and imagine a horse and work out a theory from there. They wouldn’t look at an actual horse.

    Another source by John T Harvey below talks about how that economic assumptions are orthodox, despite those assumptions not being founded in the real world.

    Warning, contains MMT

    Apologies, SQ is appalling

  6. wulbert

    wulbert pfm Member

    You'd have heard me complaining if you'd come round our house. I downsized in 2007 planning to put any equity into savings as a useful income support. Interest rates for savers at the time were 4% to 6% in high street banks.
    I didn't anticipate ultra-low interest rates and almost every middle-class person I know becoming an amateur property developer and/or buy-to-let landlord. Pissed me off no end.
    The streets round here have been full of white vans, skips and workmen chucking out kitchens or installing kitchens for years. Madness.
    Ellenor likes this.
  7. wulbert

    wulbert pfm Member

    Could I buy into it? Like an ETF? Perhaps lots of other people regretting they didn't invest in tangible assets.
  8. TheDecameron

    TheDecameron Unicorns fart glitter.

    Partygate was shitting on the dying and their families (including the monarch). Johnson & Co thought they could get away with it but went on to compound their crimes and got fired by their backbenchers. The smell hasn’t left the public imagination since.
    PsB, AnilS, twotone and 1 other person like this.
  9. TheDecameron

    TheDecameron Unicorns fart glitter.

    Were they auctioning Mick’s old striped trousers from their first Marquee gig in the 60s?
  10. Sue Pertwee-Tyr

    Sue Pertwee-Tyr neither here nor there

    Like a SIPPS, perhaps?

    A self-invested phonograph purchase scheme.
    sean99, wulbert and TheDecameron like this.
  11. Kirk

    Kirk pfm Member

    I think most people want a better world, the comrades though want to get there quicker than most and on their terms.
    Spraggons Den likes this.
  12. paulfromcamden

    paulfromcamden Baffled

    laughingboy likes this.
  13. Tony L

    Tony L Administrator

    Probably a good time to buy Lego! Get in before any inevitable price-rises (it is obviously imported goods). Whilst it is hard to invest proper money in as it is just so bulky to store the return has proven far better than any ISAs I have.
    wulbert likes this.
  14. Richard Lines

    Richard Lines pfm Member

    Absolutely not. He lied in parliament and failed to resign and I am still waiting for evidence he was asked about that during the entire election campaign.

    It isn't insignificant in any way shape or form.


    AnilS, wulbert, twotone and 3 others like this.
  15. tonerei

    tonerei pfm Member

    Good headlines in the Irish Times today. Difficult to see how this isn't going to come to an end spectacularly but I suppose for Truss the goal was to get the job and tick the box. She is going around grinning like a Cheshire cat who has got the cream. Has she any ideal what is going on? What's with the Kwartengi bloke? He is just weird looking with the perma smile.
    Just despairing to see the well of talent in the Tory party.
    twotone and PsB like this.
  16. tonerei

    tonerei pfm Member

    I thought lying doesn't matter any more? Sure don't they all do it so it doesn't count or some logic like that.
  17. sean99

    sean99 pfm Member

  18. Tony L

    Tony L Administrator

    Sir Charlie Bean - ex Bank of England chief economist - just told Channel 4 that the rise in interest rates (including long dated gilts) since Friday will cost the Government an extra £20 bln a year.” (Twitter).

    That’s more than half a Dido a year on absolutely nothing but ideological stupidity. And just since Friday. As ever Tories gonna Tory.

    PS Someone needs to produce a spreadsheet detailing exactly what these *.wit Tory government have cost this country over the past 12 years. A full profit/loss account including Brexit, the mass covid fraud, losing our credit rating twice, the collapse of Sterling, inflation of gilts etc etc etc. Just get one figure for the lot. It will be £trillions.
    Mullardman, sean99 and andrewd like this.
  19. Tony L

    Tony L Administrator

    And now the IMF arrive…

    NEW: Statement from IMF on UK, a pretty clear rebuke to Friday: “We’re closely monitoring recent economic developments in the UK and are engaged with the authorities. Given elevated inflation pressures…we do not recommend large and untargeted fiscal packages at this juncture.””

    Lewis Goodall (Twitter).

    Truss needs to resign. We need a general election right now. Get this Tory shit out of the way so we can try and clear the mess up.
  20. garyi

    garyi leave blank

    Take to the streets then tony, we all talk a good story in this cosy little forum.
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