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The Premiership of Mary Elizabeth Truss.Sept 2022-?

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

  1. ks.234

    ks.234 pfm Member

    If Droods article is correct and Trussonomics harks back to the 80’s, it should be The Isle of Wight on Thames.
  2. Ponty

    Ponty pfm Member

    With the amount of printy printy, it has to be Harare on Thames, although I’ve heard very drunk people in Henley on Thames pronounce it that way.
  3. Dozey

    Dozey Air guitar member

    I think you might be right. My mistake. I remember 2.8 to the pound.
  4. NeilR

    NeilR pfm Member

    Some commentators are saying there may well have to be an emergency rate rise next week to shore up Sterling. House price crash here we come.

    does anyone else think that Truss could be a lib dem secret agent with a mission to permanently destroy the Tory party?
    chris@panteg and Snufkin like this.
  5. Ponty

    Ponty pfm Member

    My wife has just checked out of a US hotel for the week. Christ knows what the Amex exchange rate will be!!
  6. Ponty

    Ponty pfm Member

    Can’t help but think that would only make matters worse and further undermine confidence. One thing is sure, if I were part way through the conveyancing on a house, I’d be reconsidering / revising my offer. Stamp duty cuts are a rounding error.
  7. notaclue

    notaclue pfm Member

    The sheer detachment from reality is mind boggling.

    A Chancellor who laughed at the Queen's funeral and couldn't even observe the two-minute silence. Then crashed the pound. Yet in Daily Mail land it's an alternate reality...

  8. Weekender

    Weekender pfm Member

    England Relegated.
    Yes this is the right thread.

    With apologies to the rest of GB & NI.
    sean99 likes this.
  9. Seanm

    Seanm pfm Member

    The “good things in today’s maxi-budget”

    Obviously I’m not defending the budget but it’s possible it’s awfulness is overstated. Is it awful? Looks like it to me. Is it uniquely, unprecedentedly awful? No. It’s a different type of Tory awfulness, that’s all. It includes some things to offset the awfulness, just like previous iterations did. They’re not getting much attention because the pundits are fixating on the loss of their preferred awfulness, but they may be enough to keep the Tory show on the road.
  10. martin clark

    martin clark pinko bodger

    .. in its Regressive, utter Idiocy, in the face of other pressures flagged for years now accumulating?

    - why yes: I think it is.
  11. zygote23

    zygote23 pfm Member

    Good time to change my $ to £? Asked my FA this as she's called to give me the bad news about my retirement fund. Her reply 'I cannot discuss currency!' I have the worst mathematical brain and serious math anxiety (from repeated beatings in 70's by math teachers lol) so I never can get my head around exchange rates.

    UK does look like its lovely people have facilitated a complete shambles and are pulling those who shouted loudest and longest down with them. I hope I don't have to come home anytime soon.

    Also .... anyone wanna buy a house?
  12. davidsrsb

    davidsrsb pfm Member

    With the crashing stock market several pension schemes must be in serious trouble
  13. TheDecameron

    TheDecameron Unicorns fart glitter.

    Apologies owed to Ponty- it is a real Tory budget right enough! ( at least according to the Tories’ bible). Re the bizarre behaviour of Kwarteng and come to think of it Johnson, Mogg, Mad Nad and the others- has anyone checked to make sure the FSB haven’t been pumping old stockpiles of KGB anaesthetic gas into the their offices?

    That DM free offer is a bit of a swizz btw- the tacky cash-in, souvenir coin collection is only for new subscriptions. They’ll all be trying to pawn them in six months.
  14. TheDecameron

    TheDecameron Unicorns fart glitter.

    yeah, sing it loud baby!

    The sun will come out tomorrow
    Bet your bottom dollar that tomorrow
    There'll be sun
    Just thinkin' about
    Clears away the cobwebs, and the sorrow
    'Til there's none
    When I'm stuck with a day
    That's gray, and lonely
    I just stick out my chin
    And grin, and say, oh
    The sun'll come outtomorrow
    So ya gotta hang on'til tomorrow
    Come what may
  15. Dogberry

    Dogberry pfm Member

  16. notaclue

    notaclue pfm Member

    But the market reaction and the plunge in the pound in reaction to a budget (and a mini one, at that) is seemingly unprecedented. Experienced financial commentators saying they've never seen anything like it. A mini budget became a self-inflicted financial crisis.

  17. ff1d1l

    ff1d1l pfm Member

    Wow, what an offer!
    I bet a collection like that ends up really valuable and an heirloom, not a negected unsold marked down to a pound on a sagging trestle table at the end of the car boot...
  18. Seanm

    Seanm pfm Member

    Lots of people making out like bandits from Truss’ tax cuts will also have made out like bandits from shorting the pound. There are always opportunities, when one kind of awfulness makes way for another ( where *was* Ponty?) The question is what happens next. This *might* be the big one: one last orgy of asset stripping before they torch the place for the insurance and run for the escape pods. But I’ve been thinking that since 2010. Things just grind on, more shit, sometimes different kinds of shit, but grinding on. We’ll see.
  19. Tony L

    Tony L Administrator

    I'm struggling with this "mini" Budget. I'm largely pro cutting taxes + smaller government, but millions of families and businesses desperately need help thanks to disastrous energy policy + lockdowns.

    So why cut taxes for the rich - the only people who don't need the help?

    Even gutter-tabloid gammoness Julia Hartley-Brewer has issues with this one (Twitter).
  20. Sue Pertwee-Tyr

    Sue Pertwee-Tyr neither here nor there

    Does this to any degree show how markets would be likely to react if a government deployed MMT-style spending plans? I know that’s a common criticism of MMT, and, governments bring governments, any application would be likely to be half-arsed (the spending without the job guarantee side, most likely), so perhaps what we’re seeing here is the likely outcome of markets spooked by what would be perceived as unwise profligacy?
    Spraggons Den, Brian and Weekender like this.

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