The private sector wouldn't allow for such nonsense.
Theresa May's Conservatives
Jeremy Corbyn's Labour
Tim Farron's Liberal Democrats
Paul Nuttall's UKIP
2 people's Greens
Nicholas Durgeon's Scottish Nationalists
Satan's Sinn Fein
Dr Ian Paisley's DUP
Some other bunch of nonces
I'm foreign, but I wish I were an Englishman
The private sector wouldn't allow for such nonsense.
Someone will be on the make from that whole setup, so it would never be resolved.Originally Posted by Lewis
You would have thought at least one of the cunts might have consulted an economist.
Rishi must be feeling pretty fucking vindicated right now.
I'm sure Lewis will be along to explain why it's still a cracking idea for x, y and z reasons, but I genuinely can't recall a government doing something so universally derided, that they couldn't even explain the reasons behind properly, and I'm including Iraq in that.
The evil IMF criticising something is usually a good sign, so let's wait and see.
You know the Chancellor, they don’t make policy up off the top of their head, do they? It’s not Kamakwasi sitting in his office picking tax numbers out of thin air, is it? He must be surrounded by financially-minded people who tell him what the deal is so have they all got this horribly wrong? Or is this more hysterics for HEADLINES?
Could you not make the argument that most ministers for the last however many years should, in theory, have advisors around them and yet have still managed to be comically* inept?
* Not really the right when you have the misfortune to live in the cesspit they're in the process of trying to set fire to but you get my point.
Anything half reasonable wouldnt be getting crucified by everyone with a relevant qualification beyond A-level. The fact the Daily Mail are wanking themselves silly over it and everyone else is dumbfounded tells you all you need to know on this one.
They definitely do. We used to have an overtime shift that consistently made far more in revenue than the cost of the wages needed to staff an extra fare collector on a busy commuter train that would never be effectively checked by one person. It was withdrawn despite acknowledgement of these facts because the revenue pot and the overtime pot were seperate departments.The private sector wouldn't allow for such nonsense.
The weirdest thing with Kwarteng is usually they throw a sweetner in for the dossers aka the voters but this time virtually nothing. It's widely accepted thst economic stimulus happens more effectively when you give money to people who need to spend it rather than people who can afford to save it.
To me, the only reasoning behind this is that they know they've got no chance of being re-elected so are just brazenly transferring as much wealth to their mates as possible before then. It's been a long time since the public were so overwhelmingly anti-Tory, especially considering a lot of these people were bending over backwards to justify them only 12 months ago.
That's if everyone but the Tory voters hasn't starved to death by the next election.
I won't pretend to know the ins and outs of this massive TRANSFER OF WEALTH, but is 1 year paying 5p less in income tax really the biggest financial landgrab in modern political history? Most of 'their mates' won't be paying anywhere near the top rate of income tax on the majority of their earnings anyway, they'll be squirreled away in offshore tax havens and the like so it seems a strange narrative that this would be the motivation. As does the scorched earth policy being rolled out by the labour leaning commenteriat, although I suppose that playbook has perhaps been used before no names mentioned ahem.
Oh look Crispin Odey's making out like a bandit. What a fucking surprise.
The only people I can really think of that this might have a significant impact on are the likes of the Coates mob who pride themselves on paying enormous amounts of tax and are very much not Truss and Co's mates.
Pretty much every opinion piece that has come out since Friday has stated the top 1% will benefit the most, with the poorest benefitting the least.
Woke lefty economists trying to bring down the government as usual.
Niko, lad, can we wait for the Bay Capital Barmy Army to actually make us billionaires before we become Tory shills.
Absolutely lost the fucking plot.
Mate, I'm already a fully paid up tax haven inhabitant. Paid up being a poor term perhaps.
Although, actually, for people earning non-stupid money our tax system is less generous than the UK one.
My point was not disputing WHO STANDS TO GAIN most, just that, to those people, this gain is pretty trifling and probably won't be around for long anyway. It's not like the incumbent government can set tax policy in perpetuity. At the current rate they might not even survive long enough to bring this new system in.
Doesn't that national insurance thing massively favour freelance media types [and the like]? Hence all the brouhaha in the first place about it.
Last edited by niko_cee; 28-09-2022 at 07:56 AM.
It probably is an extremely modest gain for our millionaire overlords, but "it's the principle" and it shows just how (at best) clueless or (at worst) crooked this lot are.
Trickle Down economics doesn't work. It never has. The extra money will be hoarded. Meanwhile, the inflation caused by the tax cuts will make essentials even more expensive for the plebs.
It may be a drop in the ocean for the rich, but it's just plain economic idiocy.
Hopefully it will at least put mongs like Peter Bone to bed forever.
Bill Cash is still an MP. Jesus wept.
This is all getting a bit Blair.
And I know Jim flagged this yesterday, but no nonsense Keir has lept into action and she's been suspended.
https://www.bbc.co.uk/news/uk-politics-63050482
A scary insight into how the left might think, that.
"The left"
Huq supported Cooper over Corbyn and backed Starmer. Not very leftish if you ask me.
Fair enough.
I think the most likely explanation is that this is what happens when you put 'really clever' people in charge of things. Big brain thinking is all well and good, but often doesn't survive first contact with reality. Kwarteng obviously rates himself as some sort of economics savant [going off what you hear about him from 'friends' etc] and is just trying to show off how much cleverer he is than everyone else by doing something that he sees as fairly revolutionary. The markets/business/everyone else just like the certainty that more conventional thinking brings and so [perhaps rightly] think he's off his rocker.
Huq is regarded as a mentalist apparently. Like, makes Abbot look sensible mental.
The main problem with galaxy brain Kwarteng's plan is the people getting the extra money are going to be stashing it offshore for the rainy day his plan is causing. Not conducive to the growth they want.
Last edited by Lofty; 28-09-2022 at 09:00 AM.
There is a quite mainstream strain of 'black' thinking that holds that anyone with black skin should by necessity be a Marxist. Same with the gays, to some extent. Think I had it from phonics on here once.
I say 'quite mainstream', I'm thinking in Europe with that, Fanon etc. In American universities it's probably the dominant thinking by now.
Thomas Sankara
Bridget Phillipson couldn't even say that it was racist when questioned about it yesterday, would only say "it was wrong" like a robot.
David Lammy didn't want any of it either, so they either all agree with her, or we have proof that they only usually fixate on racism for cynical motives.
That Bridget bit on Newsnight was fucking infuriating and a clear demonstration of all that is wrong with politics. I suppose it helps to not feed the Tories a "even their own label themselves as racists" but fucking hell, just label the dirty Pakistani a racist and be done with it.
I'm automatically driven to seethe at anyone responsible for tax cuts for the wealthy so it's good to see them being shat on but it does all feel like it's snowballed out of control now in the news.
As has been pointed out, Labour are basically going along with all bar the 45% rate abolishment which in itself is worth fuck all. Ultimately, these market conditions aren't
really about the twat's budget.
And then we have everyone wanking over GBP/USD when it seems for some strange reason that USD seems to be protected from these market conditions and other currencies are also tumbling against it. Let me see GBP/EUR and see if the headlines are as juicy.
Wind it in coconut.
Isn't the USD protected because it is the defacto trading currency globally and the yanks are more immune to the problems we have because they have all their own resources due to essentially being an entire continent.
That Lilico stuff that the entire economy crumbling over the last few days is in fact Labours fault did get a chuckle out of me.
The Tory libertarian right getting found out once and for all is what the party needs, tbh (Cummings warned you all). Hopefully a better version can re-emerge in 2030 actually wanting to conserve some things.
And a lot of the currency stuff is about USD being mighty. We're struggling to sell our massive business into Egypt at the moment because their government are spooked about the idea of USD leaving the country, so aren't issuing letters of credit to banks.
Last edited by Jimmy Floyd; 28-09-2022 at 12:50 PM.
Christ.
Outstanding stuff. What a fucking shitshow this is. And by "this" I mean "everything".
What on earth have these pension funds invested in that this would cause them to collapse? Time will tell who is being more right/less wrong about all of this, but the Bank of England should he re-nationalised by whoever wins the election. It's ridiculous having some call and response bollocks playing out like this.
I'm not entirely sure but from what I've gathered, it's their hedging positions that are designed to reduce their risk that would have fucked them.
I'm not entirely sure how that all works though.
Yeah, the bank of England should stop trying to stabilise the pound because of ideology.
Where’s Mark Carney these days?
For better or worse, the elected government should have control of monetary policy. I'm not objecting to what they are doing, but how they (including the government) are doing it. This should all be joined together.
I don't think government control should extend to driving the money bus off the fiscal cliff with the windows down and the system up.
I wouldn't trust this shower of cunts with a permanent marker, never mind the password to the money printer.
That clown 'rich dad poor dad' is seriously recommending investing in food (tinned food) because you can eat it. Fucking hell.
I'm inclined to agree with that last bit, in that how on earth did no-one behind these government policies realise that the BoE would disagree and if they did, why the hell didn't the mitigate the impact of that?
It's amateur hour and we need Starmer in now. These people are dangerous through their incompetence.
Posting Permissions
Reply With Quote
