UK IX: This Economy Will Self-Destruct In...

[QualityChimp]

"If you hear him on the Today programme, you wouldn't know he's black."
I'm utterly confused by this comment. What does she want? All black people to have an accent?

"I is gonna crash da pound an ting."

[QualityChimp]

Ha, I immediately started thinking of the same thing when I heard the news talking about the IMF!



Backup pun:

->Open Spoiler<-

[charlesr]

[Neon Ignition]

https://www.theguardian.com/business/live/2022/sep/28/sterling-slumps-imf-urges-uk-reconsider-tax-cuts-stinging-attack-business-live?page=with:block-6333eccd8f086841b84c373e#block-6333eccd8f086841b84c373e

Analysts warn of a 10-15% drop in house values

[Lebowski]

Do you peasants know how much it costs to heat stables in the winter? No thought so, the energy execs and mp’s absolutely need all the money to keep their horses warm.

If that bankrupts the country then I'm all for it.

the fact that so many people think that that interview was real

[endo]

"I is gonna crash da pound an ting."

It's ridiculous, quite frankly. Apart from her name, you'd never know Rupa Huq was even Bangladeshi. I mean, she never calls anyone "boss" in parliament and I've never heard her say "innit" during a conference speech. It's a farce, it really is.

[Golgo]

https://www.theguardian.com/business...086841b84c373e
Analysts warn of a 10-15% drop in house values

Of all the financial calamities in the air, a drop in house prices is not one. The sector is over-ripe for a serious crash (and I say that as one fortunate enough to be a home owner).

Meanwhile, Kwarteng will go on hands and knees to beg bankers to be nice and not to be bankers, i.e. make oodles of dosh by crashing the pound:

https://news.sky.com/story/kwasi-kwarteng-to-hold-meeting-with-city-bankers-as-fall-out-from-mini-budget-continues-12706734

[Asura]

Of all the financial calamities in the air, a drop in house prices is not one. The sector is over-ripe for a serious crash (and I say that as one fortunate enough to be a home owner).

I'm not sure I quite get this. If the £ crashes in value, won't property go up as foreign investors will fight over all the housing stock?

[Golgo]

I'm not sure I quite get this. If the £ crashes in value, won't property go up as foreign investors will fight over all the housing stock?

I think that it's not only (indeed far from predominantly) foreign investors who have in interest in UK housing.

[Cassius_Smoke]

**** me this country! This damn country!

[endo]

Personally speaking, we'll be fine: my wife's Italian and the kids have 2 passports. We'll just move to Italy and ride out the storm.

<Has a quick look at what's happening in Italy currently>

Ah.

[Neon Ignition]

It's felt like for some time that the Tories have leant further and further into Mogg's influence. Truss clearly lacks the noggin' to be driving this which is also why she's largely ghosting the nation at the moment. It reeks of ERG influence finally getting its hands directly on the wheel having made a deal with the ego of Truss as a puppet. Hence, all the theorising that they planned on sabotaging things ahead of a potential Labour win and make off with profits in hand.

But...

On hearing that this is spiralling so fast it's risking dragging down international economy's as well and destroying the status and position of the UK irreversibly within just 21 days in power... 12 of which they were unable to do anything because the Queen died... it actually feels like a realisation of the true scale that Mogg and his lot actually... to a greater extent than previously even considered... know absolutely **** all about anything to do with running anything.

Like, we've often seen and complained about senior Tories doing or saying stupid things and showing their ignorance but to kneecap a nation in just nine day... without even factoring in the weekends when they don't do much... five days!

Five day to flatline the United Kingdom

That is truly a spectacular show of **** for brains thinking to the extent that they really need to think long and hard also about their leadership contests because it highlights how utterly sodding useless the members are too. It makes complaining about Labour in 2010 seem farcicle. For normal Tory MP's it must be the peak of infuriating.

[Lebowski]

It's felt like for some time that the Tories have leant further and further into Mogg's influence. Truss clearly lacks the noggin' to be driving this which is also why she's largely ghosting the nation at the moment. It reeks of ERG influence finally getting its hands directly on the wheel having made a deal with the ego of Truss as a puppet. Hence, all the theorising that they planned on sabotaging things ahead of a potential Labour win and make off with profits in hand.

But...

On hearing that this is spiralling so fast it's risking dragging down international economy's as well and destroying the status and position of the UK irreversibly within just 21 days in power... 12 of which they were unable to do anything because the Queen died... it actually feels like a realisation of the true scale that Mogg and his lot actually... to a greater extent than previously even considered... know absolutely **** all about anything to do with running anything.

Like, we've often seen and complained about senior Tories doing or saying stupid things and showing their ignorance but to kneecap a nation in just nine day... without even factoring in the weekends when they don't do much... five days!

Five day to flatline the United Kingdom

That is truly a spectacular show of **** for brains thinking to the extent that they really need to think long and hard also about their leadership contests because it highlights how utterly sodding useless the members are too. It makes complaining about Labour in 2010 seem farcicle. For normal Tory MP's it must be the peak of infuriating.

that none of what they have done needed to happen makes it all the more baffling the top rate of tax was not something that they needed to fix as their where already ways to avoid it (paying more into pensions for example was one pretty full proof dodge) . i don't think the reversal of the NI Hike would of caused issues as this was something that no other country had done anyway.

When you factor in that other economy's have sorted their energy crisis without creating a mountain of debt it becomes even more astounding as we didn't need to borrow billions to sort this out. If i was Labour i would be asking if the former Shell employee had other reasons why she is so against cutting into the record profits the energy company are seeing and instead putting the burden on UK tax.

[Cassius_Smoke]

Government departments have been told to prepare themselves for hard cuts.
Its going well. We are aiming to become a Banana Republic right?

[Golgo]

And so, in the face of disbelief from global commentators and institutions and a feeling that Britain has gone mad, the government are holding firm to their plans and claiming that all market volatility can be blamed on Vladimir Putin. Makes sense. I guess that's why every currency is plummeting...