Is the UK on the road to economic disaster?


If your aim is to make UK assets cheaper for foreign buyers.


I’m hoping for a bit of a bounce today & might move some to the French account if it does.

Wise won’t guarantee the rate at all - they just say “whatever’s current when it goes through”.

Kami-Kwasi economics seems to be working (not)
Seems the letters are already gong in to Graham Brady :slightly_smiling_face:

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Good businesses will go to the wall due just to this.

Most convincing explanation yet:

Defenders of the government insist that the mini-budget was only the start. Kwarteng promises further tax cuts. But he also promises to bring the deficit under control. How is that to be squared?

The answer is public spending cuts. Among Republicans in the US, the tactic is known as “starving the beast”. Cut taxes and, as public revenues contract, this will create irresistible pressure for spending cuts. The argument is all the more urgent if you can invoke pressure from the financial markets.

Britannia unchained? Unhinged more like.

Way back I said I hoped Truss would win the PMship, thinking she hadn’t a snowballs chance, in order that she brought the Tories crashing down quickly. Maybe that’s happening quicker than I ever thought possible.

I wonder if Truss, the master of changing her mind and being “fully committed” is changing her mind about tax too…

In less than 20 days - this is impressive for Truss!

Since becoming PM, Truss has lost £1B per hour since taking office!
World beating…


She’s on a roll. When she said she’s hit the ground people thought she meant she’d hit the ground running, she was right the first time :rofl:


So, let’s see, that’s… Ooh! £350 million every 21 minutes! I didn’t see that on the side of the Brexit bus.

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Ah but at least it’s not going to yurp eh :grin:

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Forget Brexit, I am worried about my pension now… Top news…
"Market turmoil heaped pressure on pension funds to sell bonds to stave off concerns about solvency. Thousands of such groups had faced urgent demands for additional cash from investment managers to meet margin calls after the collapse in UK government bond prices blew a hole in strategies to protect them against inflation and interest-rate risks. " (FT)
Sam Coates (Sky)… They are worried about systemic risk and without move today some pension funds could have gone under (they still might).

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I think all this helps to answer the question that some people here pose, about why some posters feel urged to look at the UK and are frequently moved to criticise the UK government. We are not immune from their utter incompetence. And which fridge are they hiding in now?


:grin: :grin:
Traders are referring to Truss as “Daggers” - as in Dagenham, two stops past Barking :rofl:


“The measure of a man is the worth of the things he cares about”.
Marcus Aurelius
( I think we can also say woman.)


Yes - he’s probably right - usually is. I’ve read a couple of Varoufakis’ books - including Talking to my Daughter About the Economy - highly recommended as an introduction to economics. No equations!

Another good intro - by the way - is Ha-Joon Chang’s 23 Things They Don’t Tell You About Capitalism - I’ve just flicked through the pages and couldn’t see any equations!

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I like Varoufakis. He speaks well, from the heart and makes sense.
11.79€ from Amazon France
put it in my list…

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