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The Premiership of Mary Elizabeth Truss.Sept 2022-?

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

  1. Richard Lines

    Richard Lines pfm Member

    On a purely personal basis given my last job was done for a German firm with payment in Euro's this isn't such bad news :rolleyes:

    On a more serious note however I can see that increased interest rates will try obviously impact on mortgage rates which, given the situation that has been allowed to develop, could get very ugly....................... something about reap as ye shall sow??


  2. guey

    guey pfm Member

    This is where I'm very glad we've got a fixed rate mortgage.
  3. gavreid

    gavreid pfm Member

    I think this is the kind of environment were fascism might thrive. We need a particularly strong response from Labour...
  4. ks.234

    ks.234 pfm Member

    Don’t hold your breath
    gavreid likes this.
  5. gavreid

    gavreid pfm Member

    You voted Starmer my friend - what a mistake you all made...
  6. Ponty

    Ponty pfm Member

    The dog dragged me into the local when walking past, what was I supposed to do?! Packed in there, as it is every night. Lots of Americans eating great food and drinking plenty, spending like sailors in a port and who can blame them. The landlord looked pretty happy.
  7. Seanm

    Seanm pfm Member

    Awful obviously but anyone who’s been paying attention over the last 12 years will know that the “Oh my God this time they’ve gone too far!” headlines are followed quite rapidly by opinion pieces on the new guard’s ruthless pragmatism and strategic nous, and the whole of politics moves further to the right. There is no economic policy so irrational, no social policy so vicious that it can’t be accommodated by the U.K.’s establishment media, if the alternative is recognising the Conservative Party for what it is.

    Maybe it will be different this time :).
    ks.234 and palindrome like this.
  8. notaclue

    notaclue pfm Member

    gavreid likes this.
  9. ks.234

    ks.234 pfm Member

    Yes, thanks for reminding me. In my defence, my instinct was to vote for RLB, but she wouldn’t have been given a chance by the Labour right, so I was persuaded by the pragmatic argument that compromise would get some of what I voted for, if not all. That was indeed a mistake.

    To be fair borrowing could work if the money raised was spent in the right places, but Labours borrowing plans are short term and emergency and include paying down the deficit year on year. They will not therefore meet more long term strategic needs to improve the economy sustainably. Also Labour has already criticised Tory borrowing, so is unlikely to gain traction without a significant U turn.

    Alternatively, Starmer could row back again on his economic pledges to raise taxes on the rich, but as the Labour Party is actively pursuing high end donors, raising taxes on the rich is unlikely to happen as it is bound to create frightening headlines in the Daily Mail.
  10. Ponty

    Ponty pfm Member

    I remember when it was £1 = $2, around 2007 I think. A work mate was going to buy a place in Barbados and converted the funds at this rate. It dragged on and didn’t happen in the end. In the meantime the pound fell back quite a bit and he inadvertently made a very hefty sum!
  11. notaclue

    notaclue pfm Member

  12. ff1d1l

    ff1d1l pfm Member

  13. matthewr

    matthewr spɹɐʍʞɔɐq spɹoɔǝɹ ɹnoʎ sʎɐld

    Krugman is unimpressed with Trusseconomics. Paywalled, but in essence a) the tax cuts for growth thing has literally never worked b) this radical experiment at the same time as a energy price crisis is particularly worrying c) markets are treating us like we are, say, Argentina rather than a G7 economy.
    sean99 likes this.
  14. Tony L

    Tony L Administrator

    I suspect we are now Brazil. Both in the economic and Terry Gilliam sense.
    paulfromcamden likes this.
  15. Dozey

    Dozey Air guitar member

    I remember when it was $4.80 to the pound! In the 1960's.
  16. mandryka

    mandryka pfm Member

    I thought -- and I'm completely out of my depth here really -- but I thought that it wasn't tax cuts alone which they think will produce 2.5% sustainable growth p.a., but tax cuts in combination with charter cities, because the cities will make it attractive to invest and hence to unleash productivity. That's why I was a bit thrown by something Kwertang said in the budget speech, that they are in "early stages" of creating them. If the charter cities are pie in the sky, it may be serious.
  17. sean99

    sean99 pfm Member

    Yebbut, the public have had enough of experts. Time to let the (decidedly non-expert) Brexiters take control.

  18. matthewr

    matthewr spɹɐʍʞɔɐq spɹoɔǝɹ ɹnoʎ sʎɐld

  19. mandryka

    mandryka pfm Member

    I remember going to the bakers with my father and he bought me a cake. He asked how much it was and the reply was "half a dollar." Walking home I asked my dad how much a dollar was. He said, 5 bob.
  20. sean99

    sean99 pfm Member

    A banana republic, but with turnips instead of bananas. A turnip republic, if you like.

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