There are actually a top rate team of experienced officials at the Treasury under the leadership of one of the finest civil servants of our generation. I am sure Tom Scholar will be.................................oh wait a minute
Unsubstantiated rumours that some lenders have stopped making mortgage offers. Soon to be time to add a house price crash to LT's growing list of "achievements". (I know that such an event will not be viewed negatively by all)
....coupled with those who have 'heavy' but-to-let mortgages as they realise they don't have much chance of matching rent to rises in repayments so have to sell-up.
“Halloweens come early, Everyone” – Inspired by Shakin Stevens, ‘Merry Christmas Everyone’ [Chorus] The Pound is falling, On the daily, MP’s playing In the sun It’s the season, Tax cuts and recession, Halloweens come early, Everyone Time for parties, and commiserations, Tories dancing all night long, Liz Truss is present, And exchanging hisses, Time to cutback, to right their wrongs We’re gonna have no lighting tonight I’m gonna walk about in dark and probably stub my bloody toe I’ll curse without candlelight Rishi was swaying, bills need paying, Those brown letters, we love to fear, All I wish that, one day I won the lotto, That’ll be a nice way, to end the year [Chorus]
Andrew Bridgen on R4 now blaming the BofE for the inflation figures and pointing out that is we had started fracking two years ago we wouldn't be in this mess (oh and cutting HS2).
The energy crisis and Truss's response to it are going to determine everything and it's not looking good for her (or us). Anyone who is already struggling to make ends meet is going to be sunk without trace, economically-speaking, this winter. The squeezed middle is going to be crunched. I live in hope that if the squeezed middle start squealing there could be a collective realisation of what is being done to the country by these weirdos. Britannia Unhinged, as I heard it described on a podcast this week. Now I've seen the figures, the extent of the problem is clear. When I saw the tariff increase I thought, 'Well, that's not *tooooo* bad.' In percentage terms it didn't seem as bad as it had been made out. Then came the increase to the monthly direct debit. 40% up. They will be taking one pound shy of 200 quid a month, despite the fact we are hundreds of pounds in credit and despite the fact the energy unit price is not rising by as much as 40%. This is legitimised, state-sponsored money gouging, backed by the knowledge that the taxpayer is subsidising any shortfall in the long term. The energy 'market' is a wheeze. Chicanery, deception, smoke and mirrors. A way to bamboozle and befuddle the consumer for private profit. Absolutely classic Tory ideology. Oh but the smart consumers will play the market and get a good deal. Basically modern Conservatism wants a country of Arthur Daleys (ask your parents!) all ducking and diving. In a normal country, this should spell the end of the liars, incompetents and ideologically-deficient lunatics in charge. But, of course, a rigged electoral system and the fact that in artificially key areas the electorate would vote for a flowerpot of dung with a blue rosette on it means we're lumbered with them.
Daily sales a very stable 200K. The actually go out of the way to be not political as this quote from the editor (grabbed from wiki) shows:
What an extraordinary time. All the ghoulish Tufton St think tanks that have been allowed to spout their bilious crap without scrutiny or any media attempt to explain who they are and why they’re allowed a platform suddenly clutching their pearls because the market they so revere is handing them their backsides on a platter of worthless pound coins. If it didn’t ruin everything for all of us and our children (as appropriate) I’d be laughing long and hard at them.
Does anyone agree that there is more than a passing physical resemblance between Liz Truss and the sadly late Mark E Smith?
Have you ever seen how articulate and smart he is with money? Wish he was running out economy instead of Kwasi.
https://www.bbc.co.uk/news/live/uk-politics-63056188 Time for a referendum to leave the IMF. Bloody eurocrats
This isn’t even satire. Daniel Hannan: No, the pound isn’t crashing over a trifling batch of tax cuts. It’s because the markets are terrified of Starmer. https://conservativehome.com/2022/0...hing-because-of-a-trifling-batch-of-tax-cuts/
I didn't read it but I suppose the IMF warning said "The budget was a problem because it was economically sound but risked labour getting in"
Political commentators - even the good ones - live in a bubble where they think of things in terms of whether they are “cutting through” to the ordinary voter. Have to say, the potential mortgage rate increases are cutting through like a samurai sword through room-temperature butter if the conversations with friends and acquaintances this morning are anything to go by. Friends with tracker mortgages in a panic, friends with mortgage deals expiring in the next couple of months fearful, especially as this news comes just days before the impact or the energy price rises starts to hit. Most families don’t have 200-500 a month extra just lying about to cover these things. “Oh but you should have saved more” say the older “common sense” brigade. Good luck with that when interest rates have been close to zero for a decade, wages have fallen in real terms and costs have steadily risen. Still, better this than cHaOS wiTH Ed MiLLiBand.
It's generating a full range of opinions from"...utter cobblers..." to "...utter f'kin' cobblers...":
If the markets believed the tax cuts would work, then they'd believe Starmer wasn't ever getting in. There is zero logic to his claim.
It's Hannan. https://twitter.com/EmbarrassedBrit/status/1222265190806368256 Sorry, "Lord" Daniel Hannan. Ennobled by Spaffer.
