Maybe we should have a bankexit and get controls on our money borders.Originally Posted by Lewis
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
Maybe we should have a bankexit and get controls on our money borders.
Lewis's proposal works in a world where the government is full of competent people but I'd imagine the current state of affairs makes The Thick of It look understated.
The government controlled it for fifty years until 1998 (it had never previously needed to directly, but did when it wanted to), since which time it has consistently missed its inflation targets and at best ignored, and at worst exacerbated, several disastrous asset bubbles. Forget the borrowing and money printing. Its fate should be wholly bound up with the government of the day, otherwise it just does nothing until it shits itself.
Having policy making institutions immune to government interference is helpful though, for instance the country's rail policies were a lot more coherent under the SRA rather than just being handed off to Grant Fucking Shapps to fanny around with Chris Grayling's sloppy fifths.
Government is full of incompetents, but so are 'policy-making institutions' of all kinds. CDC? lol WHO? lol IMF? lol EU? lol
https://bondvigilantes.com/blog/2022...lateral-calls/
An explainer on what went on.
Cheers.
True but at least they can continue with a policy between government changes rather than chopping and changing constantly. Remember when Trump wanted the fed to do what he wanted, good job they lolled at him.
If central banking can be spun out to 'independent' bodies then why can't everything else?
Surely bringing the BOE in house would go against Kwarteng and Truss's small state ideology.
It's becoming quite clear that anyone in and around Government was forewarned of the consequences of any policy akin to what's been announced, so I'm definitely starting to lean more towards crooked than incompetent.
No she really is just that thick. 100% one of those people that thinks if you wish it to happen it will happen.
Believe and you will receive.
Are the Bank of England only rushing to hike the interest rate so that they can cut it again in 2 months when we officially enter recession?
Not that it justifies the shambles that this government is, but the BoE have had an absolute nightmare here too.
In my (uneducated) opinion. I would let my mortgage go onto variable rate rather than fixing now. Recession is nailed on and that means interest rate cuts.
Normally yes, but inflation is way too high to do that. Maybe they will anyway because they've got no other weapons in their arsenal. I went to see my advisor yesterday and he's saying they don't expect shit to sort itself out until 2024, so next year may well be a time of both high inflation and high interest rates.
My gut is rates to peak faster and higher than expected base rate maybe at 5% by the spring. Then we have 5/6 months where they stay high as they try to combat the inflation, the realisation of the impact of that on the economy will then make them re-think and have to start reducing the rates again to get the economy moving. This is the problem with them having sat on their hands doing nothing with the rates for the past 5 or 6 years. Now the shock to people's budgets is far worse than it needed to be, what people don't see here is that they are getting the money for the power but that is going straight out in the other hand in the next few months for anyone who has a fixed rate mortgage that is ending in the next six months.
As for inflation the shock of the petrol rises from last February and energy increases as well will start to ease out of the rolling average at the start of next which will have an impact on inflation you would hope. It's not going to be great because things are generally increasing in price but I don't think it's going to be as bad as it would have been and then if rates are higher and also have some impact will mean they can act sooner to get the economy moving again.
Stagflation, baby!
It's almost like the inflation we were seeing wasn't being caused by people having too much money to spend and raising interest rates wasn't going to bring it down.
Was it the Bank of England guv who called for people not to ask for pay rises earlier in the year? lol
Yeah fuck him, I asked. Luke is right, BoE should have been doing this starting in about 2014.
Lol.
I retract my previous statement. It's definitely incompetence over crookedness.
But how can someone apparently this thick reach the highest office in the country? I can’t believe you can be thick and do it. Some of the people in my secondary school classes were thick. Like the lad who jumped out of a 40 foot tree for a laugh and snapped his legs. That’s thick. This fucker is Oxbridge educated, isn’t she? So what the fuck is going on?
She's just going around all the local radio stations getting absolutely battered by the hosts.
Probably thought local radio was going to be an easier ride than Radio 4 but at this rate she'd have been better off with just one bad Radio 4 interview instead of several local BBC ones.
It's not base thickness. She was a chartered accountant, worked for Shell, etc - they don't hire you if you're naturally thick. Even at a younger age:
However, she has obviously acquired some of the traits of a thick person over time. She has gone from Lib Dem to Cameroon to hard line libertarian during her political life. That indicates a willingness to blow with the wind and that her objectives are driven by ego, and the desire for power or status, rather than by conviction. If you spend that amount of time approaching things with a cynical will to get ahead, rather than with any kind of intellectual rigour, do you lose your grasp on the brain power that got you into this world in the first place? I don't know.Truss was remembered by adolescent classmates as a studious girl with "geeky" friends. She reportedly had an interest in social issues such as homelessness.
Lancashire:
Leeds:
She can't be thick, but she can be grossly unprepared. She has reached PM because she had more mates than Rishi and the others. It's a popularity contest. She was willing to scratch more backs, or atleast make people believe she would.
Getting routed by local radio hosts.It's hard to find the appropriate words for all of this.
Gross incompetence. You can add a few swear words to spice it up a bit, but that's about the size of it.
They used to be able to get out of it through gift of the gab. None of these chancers seem to have either the natural charisma for it or the willingness to be coached in it. This new method since Boris of peddling the same couple of lines whatever the question is getting them unstuck because if they accidentally take a second to think about the question, they're fucked.
She's incompetent and has failed upwards her entire career. It happens in all industries & sectors. The top job is no different.
There's something gloriously democratic about the local radio breakfast hosts annihilating her one after the other, for 5 minutes at a time. She'll have thought she was being clever for dodging Today as well.
I said she wasn't making Christmas but I'm now unsure about Bonfire Night.
Yep, it's fantastic that her shit dodging has backfired this spectacularly. She now looks incompetent and cowardly. Top work.
And completely agree, she is dead Woman walking already.
Pretty sure this guy just said...
"I don't care about equality at all. I have no interest in equality."
And
"Equality is not a morally sound issue".
Each to their own.
I'll watch the video, but equality is a bit of a myth, it has never and will never exist. The best you can hope for is something that at least looks close to fair, which after this budget we're miles away from.
I think you're making the same mistake that Truss probably did.Getting routed by local radio hosts.
Communism is the best shot we ever had at equality and, well, lol.
Andrew Lilico is the same guy who was calling the IMF lefty after its statement the other day. A completely unserious person.
There's an epoch-defining Paul Mason tweet out there re the local radio hosts, for anyone who likes laughing at snobbery.
EDIT: quoted in Boydy's post.
It's in the initial quote tweet of that one I posted, if you expand it.
Another completely unserious person. An absolute clown.
Great point and one I obviously hadn't considered. That's as bigger bollock dropped as seemingly not being aware as to how the BoE would react to the mini budget.
True equality will never be achieved but at least wanting to strive for some sort of equality is just human decency, is it not? That's my viewpoint anyway and probably the main reason I can't get past my own hatred for right-wing economics.
The problem is - as with communism - the equality you end up with is separate from the rich cunts, and the plebs get increasingly equal as the middle classes slow dissappear.
I'm not advocating for communism. I'm advocating for things like raising the personal allowance rather than cutting the top tax rate.
'Human decency' might be a stretch as most societies were riven with slave ownership until the last 100-200 years, and some still are. In a democratic system with universal suffrage it makes sense as a starting point, I suppose.
I'm not sure what's wrong with this. She's a bit awkward, which we knew, but if the policies for 'local consent' are still being written what is she meant to say? It's very easy for the local MP and council to be against something that wasn't realistically happening. If an energy company waves a fat cheque in front of the locals things might change.
Getting bodied on BBC Bristol as well.
Who'd have thought destroying people's disposable incomes might have knock-on effects in the rest of the economy?
They've taken a shitstorm and turned it into a fucking shit hurricane.
Of course.
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