Tories are still lying *******s

[grunt]

Telling it like it is

https://twitter.com/chakrabortty/sta...b7deLnqECwkHhA

[grunt]

Telling it like it is - Richard Murphy

Skip to 5 minutes in (if you don't want to hear the Bowie track) https://www.bbc.co.uk/sounds/play/m001c7j4

Gets in a good dig at the IEA too.

[CropleyWasGod]

The IMF having their say...

https://twitter.com/faisalislam/status/1574845873154101261?t=00Q8X1RJSQoUn4y9HMhhMQ&s=19

[Hibrandenburg]

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That’s a very fair point. What I would say is that as money becomes more “expensive” for banks and other lenders to obtain from the market, they might then start to raise savings rates to attract deposits ( more of a return to how banks etc used to operate). Whether anyone has much money to put away is another question …

The only people who win from that scenario are those whose income far outweighs their outgoings. After this last budget, the rich are not only increasing their wealth on the money they accumulate, but also on the money they have in the bank, win win for them, lose lose for the poor.

[Hibernia&Alba]

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Oh boy, horrible horrible time for people with mortgages that aren't fixed. Housing crisis unseen before coming up

EdConwaySky
·
57m
NEW
Money markets now pricing in a 1.5 per cent rise in interest rates at or before the next @Bankofengland meeting in Nov.
Expectations back up well above 6% next year.
All follows that speech from BoE’s Huw Pill hinting of big action to come

Yes, there was an interesting piece on the news earlier. If interest rates do reach 6% from their current 4.75%, a 200,000 mortgage will increase by 600 per month. That would be a world of pain for a lot of people. It does seem inevitable that interest rates will be increasing by quite a lot soon.

[Stairway 2 7]

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Yes, there was an interesting piece on the news earlier. If interest rates do reach 6% from their current 4.75%, a 200,000 mortgage will increase by 600 per month. That would be a world of pain for a lot of people. It does seem inevitable that interest rates will be increasing by quite a lot soon.

That's actually horrendous

[wookie70]

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Yes, there was an interesting piece on the news earlier. If interest rates do reach 6% from their current 4.75%, a 200,000 mortgage will increase by 600 per month. That would be a world of pain for a lot of people. It does seem inevitable that interest rates will be increasing by quite a lot soon.

James O'Brien did a piece about the difference between interest rates in teh 70s and now. I think he said 6% would be the equivalent of 20% back then due to how much bigger the mortgage to wage ratio is now. On top of that you have large increases in domestic fuel and high interest with Unions that are far weaker. Workers who are feeling like they are winning disputes are getting 5% or more poorer with worse to come. Worst of all I still don't think we have reached peak Tory

[Mr Grieves]

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Bold stuff from Kwarteng which will hopefully kick-start the economy. Hopefully the Scottish government will see sense and follow suit.

Going well eh?

[Ozyhibby]

https://twitter.com/itvborderrb/stat...yfzyleJZqid0MQ

Let’s not forget this is supported by the Scottish Tories.


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[Hibernia&Alba]

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https://twitter.com/itvborderrb/stat...yfzyleJZqid0MQ

Let’s not forget this is supported by the Scottish Tories.


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Of course they do, and wee Dougie is a disgrace.

[Ozyhibby]

https://twitter.com/simon_nixon/stat...yfzyleJZqid0MQ

US treasury Secretary now calling them out.


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[JJP]

Couldn't be worse timing for me. Anxiety has been through the roof today. My current fixed rate deal ends in 7 months. I'm probably going to have to find £3k to exit my current agreement early to get a fixed rate over the next 5 years which is £150 more expensive per month. Hopefully I can get the agreement in place before any more interest rate rises. As if I didn't despise the Tories enough already...

[Hibernia&Alba]

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Couldn't be worse timing for me. Anxiety has been through the roof today. My current fixed rate deal ends in 7 months. I'm probably going to have to find £3k to exit my current agreement early to get a fixed rate over the next 5 years which is £150 more expensive per month. Hopefully I can get the agreement in place before any more interest rate rises. As if I didn't despise the Tories enough already...

Yes, and the banks are pulling some of their mortgage offers, as they know what's coming. I hope you find a workable solution.

[cabbageandribs1875]

i'd heard a few times about Kwarteng and Truss recently, but i did know she cheated on her husband years ago

(1) Bish ��*�� on Twitter: "Ironically, Truss knows all too well what a weak pound from #KwasiKwarteng feels like ��*♀️" / Twitter



i didn't realise he had a relationship with Amber Rudd as well Kwasi Kwarteng and Amber Rudd relationship led to shock scandal inclusion (thefocus.news)

[Stairway 2 7]

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i'd heard a few times about Kwarteng and Truss recently, but i did know she cheated on her husband years ago

(1) Bish ��*�� on Twitter: "Ironically, Truss knows all too well what a weak pound from #KwasiKwarteng feels like ��*♀️" / Twitter



i didn't realise he had a relationship with Amber Rudd as well Kwasi Kwarteng and Amber Rudd relationship led to shock scandal inclusion (thefocus.news)

I'm not that bothered about that in any way tbh honest. I'm more bothered that their deliberate plans to help the highest earners is going to cause absolute misery for millions this year. Snakes

[Ozyhibby]

These people are going to go for spending cuts on a level we haven’t seen before. Terrifying. No doubt unionists in Scotland will blame the SNP for not protecting us from them.


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[GlesgaeHibby]

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Couldn't be worse timing for me. Anxiety has been through the roof today. My current fixed rate deal ends in 7 months. I'm probably going to have to find £3k to exit my current agreement early to get a fixed rate over the next 5 years which is £150 more expensive per month. Hopefully I can get the agreement in place before any more interest rate rises. As if I didn't despise the Tories enough already...

It's absolutely brutal just now. If there's one crumb of comfort you may be able to apply for a remortgage this week and avoid early repayment fees as offers are usually valid for 6 months. I'd imagine the time to process applications has increased due to volume. When I applied for a remortgage deal at end of march it took just over 3 weeks for the offer to come through.

[GlesgaeHibby]

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These people are going to go for spending cuts on a level we haven’t seen before. Terrifying. No doubt unionists in Scotland will blame the SNP for not protecting us from them.


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Richard Murphy summed it up well when he destroyed the IEA shill on Jeremy Vine yesterday with "bye bye NHS".

Truly horrific state of affairs.

[Hibernia&Alba]

Bloomberg UK: UK financial markets have lost a combined $500 billion in value since Liz Truss became PM. That's roughly $1 billion per hour.

[GlesgaeHibby]

Apparently the markets haven't been spooked by the mini budget, but by the prospect of Keir Starmer becoming PM. Getting more and more desperate now

https://twitter.com/mrjamesob/status...NLPEB4lJg&s=19

[Moulin Yarns]

From twitter


Today’s poem is called ‘An Incomplete List of Things More Capable of Running the Country than the Current Government (reprise)’.

https://twitter.com/brian_bilston/st...Pv_HPwFqg&s=19

[Stairway 2 7]

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Apparently the markets haven't been spooked by the mini budget, but by the prospect of Keir Starmer becoming PM. Getting more and more desperate now

https://twitter.com/mrjamesob/status...NLPEB4lJg&s=19

That's desperate. They are like the typical Eton school bully that refuses to take the blame

[Ozyhibby]

https://www.theguardian.com/money/20...s-defy-gravity

A wee insight in to the level of pain anyone with a mortgage is about to face.


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[grunt]

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Apparently the markets haven't been spooked by the mini budget, but by the prospect of Keir Starmer becoming PM. Getting more and more desperate now

https://twitter.com/mrjamesob/status...NLPEB4lJg&s=19

This begs the question why do the markets suddenly think that Starmer might be PM?

[hibsbollah]

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https://www.theguardian.com/money/20...s-defy-gravity

A wee insight in to the level of pain anyone with a mortgage is about to face.


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Some friends of mine have just had to downsize due to health issues. They put their modest bungalow in Craiglockhart with a bit of a rubbish extension on the market for 460k, a couple of weeks ago, their agent told them to put it on at 420k. They got a firm offer that was accepted 48 hours later for 620k. The market is insane, and although I was pleased for them it made me angry for my 3 kids who won’t ever be able to get on the property ladder like I did. It was never sustainable.

[Kato]

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This begs the question why do the markets suddenly think that Starmer might be PM?

Someone further down the thread jokingly saying Meghan Markle is to blame.


The sad, weird and totally inexplicable situation we live means those tropes actually gain traction.



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[grunt]

Patrick Minford, economist to the Government

There is no sterling crisis, except in the minds of idiots

It is important to leave the pound free to find the level that will allow the Government's pro-growth policies to work

https://www.telegraph.co.uk/news/202...-minds-idiots/

[CropleyWasGod]

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Patrick Minford, economist to the Government



https://www.telegraph.co.uk/news/202...-minds-idiots/

There is some merit in allowing the pound to devalue as it has been. That makes UK exports, and its tourism market, more attractive to others. However, that is only working at the moment in relation to the $.

[SHODAN]

And people wonder why we're ****ing striking.

[Bostonhibby]

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Some friends of mine have just had to downsize due to health issues. They put their modest bungalow in Craiglockhart with a bit of a rubbish extension on the market for 460k, a couple of weeks ago, their agent told them to put it on at 420k. They got a firm offer that was accepted 48 hours later for 620k. The market is insane, and although I was pleased for them it made me angry for my 3 kids who won’t ever be able to get on the property ladder like I did. It was never sustainable.

whole affair since Kwasi helped his hedge fund manager pal fill his boots is scandalous, and such a shame for many aspirational people.

Truss will be along to tell us a big boy done it and ran away, scruffy b*****, children all over the place, prone to telling lies and likes a good illegal party, that sort of thing..........

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