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 HKOwen  Hong Kong 28 Sep 22 1.12pm |
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Originally posted by steeleye20
Here is one of the 'great and good' Tory peer Lord Hannan, on recent events:- 'What we have seen since Friday is partly a market adjustment to the increased probability that Sir Keir Starmer will win in 2024 or 2025 - leading to higher taxes, higher spending, and a weaker economy'. How utterly ridiculous. 'Let us be clear on this'. Widely mocked, still shows the tories are good for a laugh, but the joke, as ever, is on us.
I had not looked at it from that point of view, but, the only new thing for the markets in the KK speech was the reduction of the top rate of tax. The major change has been that the possibility of a Labour led government increased as the conference bounce kicked in. Still have to remember it is highly unlikely, though not of course impossible, that there would be an overall Labour majority so the possibility of a Lib Lab pact is possible as even their few seats could hold a balance. Of course it remains to be seen what deal is cut with the SNP. Anyone who forecasts in such uncertain times is guessing
Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance. |
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Willo  South coast - west of Brighton. 28 Sep 22 1.25pm |
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Originally posted by HKOwen
I had not looked at it from that point of view, but, the only new thing for the markets in the KK speech was the reduction of the top rate of tax. The major change has been that the possibility of a Labour led government increased as the conference bounce kicked in. Still have to remember it is highly unlikely, though not of course impossible, that there would be an overall Labour majority so the possibility of a Lib Lab pact is possible as even their few seats could hold a balance. Of course it remains to be seen what deal is cut with the SNP. Anyone who forecasts in such uncertain times is guessing £38bn of tax cuts had already been promised by Truss, and the Energy cap was widely discussed,but Truss’s victory triggered nothing like the same market reaction as we have now seen.
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| Rudi Hedman Caterham 28 Sep 22 1.39pm |
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The markets care first of all on how much borrowing because of the tax and spend. Then it’s the tax and spend. They didn’t need to get to the tax and spend to decide what to do because it didn’t balance up and tfeee will be lots of borrowing, although I expect more money to savers than spenders went down quite badly as a confirmation that 1) this is crazy, and 2) Truss is mad enough to believe whoever told her to carry out this ideology at this time.
COYP |
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| Midlands Eagle 29 Sep 22 8.11am |
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Originally posted by Willo
£38bn of tax cuts had already been promised by Truss, and the Energy cap was widely discussed,but Truss’s victory triggered nothing like the same market reaction as we have now seen. Oh Lordy. it sounds like you were one of the old buffers responsible for going against the wisdom of the Conservative MPs and voting Truss the cheese lover into No. 10
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| Willo South coast - west of Brighton. 29 Sep 22 8.47am |
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Originally posted by Midlands Eagle
Oh Lordy. it sounds like you were one of the old buffers responsible for going against the wisdom of the Conservative MPs and voting Truss the cheese lover into No. 10 I was in attendance at hustings and I can assure you there was a significant number of members, certainly not that ripe in age, who were attired in Truss T-Shirts and stickers and who were vociferous in support of our new PM.
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beak  croydon 29 Sep 22 8.59am |
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Originally posted by Willo
I was in attendance at hustings and I can assure you there was a significant number of members, certainly not that ripe in age, who were attired in Truss T-Shirts and stickers and who were vociferous in support of our new PM.
To paraphrase; There are no fools like old fools.
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| Wisbech Eagle Truro Cornwall 29 Sep 22 8.59am |
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Originally posted by Willo
£38bn of tax cuts had already been promised by Truss, and the Energy cap was widely discussed,but Truss’s victory triggered nothing like the same market reaction as we have now seen. The markets, along with all objective observers, had assumed that Truss's campaign promises, made to get her the job via a tiny ill-informed electorate, would be tempered by common sense, realism and sound advice as soon as she faced the responsibilities of office. Rushing headlong into a maelstrom, rather than keeping your head down, just because you previously said you will, is the height of stupidity. Announcing a desired general direction of travel, when circumstances permitted, would not have panicked the markets and created the situation we are now in. Truss has clearly demonstrated why she was not the preferred candidate of those she now leads, and why the way a PM is chosen between GEs must change.
For the avoidance of doubt any comments in response to a previous post are directed to its ideas and not at any, or all, posters personally. |
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Nicholas91  The Democratic Republic of Kent 29 Sep 22 9.31am |
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Originally posted by Wisbech Eagle
The markets, along with all objective observers, had assumed that Truss's campaign promises, made to get her the job via a tiny ill-informed electorate, would be tempered by common sense, realism and sound advice as soon as she faced the responsibilities of office. Rushing headlong into a maelstrom, rather than keeping your head down, just because you previously said you will, is the height of stupidity. Announcing a desired general direction of travel, when circumstances permitted, would not have panicked the markets and created the situation we are now in. Truss has clearly demonstrated why she was not the preferred candidate of those she now leads, and why the way a PM is chosen between GEs must change. 'The dumb broad'. I've been watching Sopranos again and despite their very limited and misogynistic vocabulary I think the above encapsulates the whole thing well. It really is a staggeringly worrying sign of the times that with a pandemic still rumbling, a war in Europe, an energy and financial crisis, Palace not signing anyone in the last couple of weeks of the window, a Monarch dying and so on, that this person is heading up our government. You then look at the only other option (there are other parties of course but let's be realistic) and cannot help but think 'Argh, what the F**K is going on?'.
Now Zaha's got a bit of green grass ahead of him here... and finds Ambrose... not a bad effort!!!! |
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