Boe will now need to do huge rate rises but it’s unlikely to stop reaching parity which will cause even more sell off due to the psychological barrier.
Boe then can’t even risk qe, our borrowing costs are set to become astronomical unless the government restores the confidence of the puic and the markets.
Only way that’s happening is to put a windfall tax on oil and gas companies, reinstate top tax bracket and possibly also put a robin hood tax on the city.
Everyone with a Braincell saw this coming. The party of fiscal responsibility
Imagine actually being a Tory MP or voter and not feeling a sense of deep, gnawing embarrassment.
It boggles the mind
The fact the new chancellor is (was link below) (10 years ago a nobody, let alone chancellor edit) a consultant for a hedgefund who is actively shorting the pound really sums this government up.
EDIT – (If you’re paying 10k per “consultant fee” in 2012 when this bloke was a muppet, are you not paying him now when he’s in charge of the whole fiscal policy of a G7 country? Make it make sense.)
So at what point does purposeful manipulation of the markets to short the pound as a way to make money count as treason?
The pound will sink below the US dollar and capitalists will still expect us to keep on working as if nothing has happened. This will be a rough winter when prices of necessary goods and services keep rising and the value of our paycheques reduces
Kami-Kwasi is at the controls and he is happy about this.
It’s exactly what his old boss Crispin Odey wanted.
1 Euro now at 0.96 US Dollars as well, wtf. Dollar to the moon.
The Hedge Fund Lizzie is working for must have a crazy gains from shorting the Pound. Again, that illusive conflict of interest theory 🙂
Reading international coverage of my government’s desperate Hail Mary makes me feel like a teenager whose dad has arrived to pick them up from school in a brand new Mustang, wearing a toupee
Anyone not on a fixed rate mortgage, you are gonna see massive rate increases this winter as the BOE is forced to not only fight the inflationary pressures caused by the Barber style tax cuts, but also to maintain confidence in Sterling.
The tory party has sold homeowners down the river.
Games are being played. There will be colossal support at 1. It’s just done a 4p reversal. Tories and the hedgefund friends literally playing games with the future of this country.
How long before Truss asks Biden if we can have the dollar?
The tories are in smash and grab mode, Not going to win the next election, so let’s fill our pockets and all our mates too.
I live in the UK, but get paid in dollars. What should I be doing with my pay? Still converting it to Sterling or?
When are thy going to fucking stop? Haven’t they done enough damage?
Everyone moans nobody does anything, sums up Britain.
Don’t worry everyone, in a couple of years, assuming the media let him in, Kier Starmer will put the 45p rate back on income tax and save us all!
God damn, it’s the hypocrisy and double standards that gets me.
When Labour suggested a bit of borrowing to fund a national investment bank, people called him mad and said it would tank the pound.
Now the Tories are pure borrowing to fund this, the pound has tanked and it barely gets talked about?
You shouldn’t be allowed to work other jobs if you’re an MP. Change my mind.
Lovely. Can’t wait for an emergency hike in interest rates. No doubt remortgages will be affected but savings will barely budge.
You know what I’m sick of? People who voted Tory and are now saying, ‘Yes, but I didn’t vote for THIS’.
Yes you fucking did you were just too lazy/ignorant/stupid/naïve/selfish etc to notice. I swear there should be a fucking pop quiz before you’re allowed to vote.
I’m at the point of having to try and turn off the news and go into isolation as I can’t stand reading / hearing about how far into oblivion we’re about to fall. How anyone can stand behind this, and the previous cabinet(s) under the tories in the last decade, absolutely blows my mind. Either sheer incompetence or corruption or both.. I’m not sure which.
good thing the people shorting the pound now get their bonuses too
Amazing, god I love Liz Truss.
Rule Britannia, Taking Back Control, etc etc.
Fucking Tories.
Turned down a job offer that would pay in dollars a few months ago, painful!
I hate money and what it does to people and societies.
I can’t believe how fucking corrupt this government is. I never expected to see this shit in England.
We’ve had four Tory prime ministers in the space of twelve years, two of which were put into place by the tories themselves. Surely that is enough to show that this party cannot govern and yet people will still vote for them and I just can’t understand why
How does anything trickle down when rich people’s investments are tanking?
What a disaster Truss is.
They literally picked the absolute worst on purpose it seems
I’m sorry if this is stupid question; how does this impact me (poor person who already was living pay heck to pay check who is already wondering how I’m going to keep paying for the increase in my fuel bill and have enough food to feed my daughter and I?)
Does this mean food prices will keep increasing? I have a credit card but no mortgage etc?
Sorry if this is stupid question, every day I wake up thinking what next
Why is nobody protesting? You Brits enjoy a good protest. That Government seem to have increased the pace, of the theft of money from the working class and middle class to the rich. The erosion of rights are increasingly becoming narrower and as the pace of theft increases further, they will become narrower even again. I would say now is as good a time as any to say enough is enough.
> …didn’t vote Truss in…
We did, in this country people vote for their MPs, the party with the largest number of MPs form a government, the government decides who becomes PM.
Don’t vote Conservatives.
I’m an immigrant with financial obligations back home like student loans and taxes, so I’m panicking about the falling pound. Already low wages and cost of living have been making it hard to live here, and now the pound in free fall is just compounding things.
I’m going to protest on 1 Oct because I need to do something. Let’s make Truss a short lived nightmare.
should really put to bed the tories are good with the economy and labour not. Borrowing now for tax cuts and not before is fucking criminal. And this is coming from someone benefitting MASSIVELY from tory rule, they are not fit to govern the country
35 comments
Only going to get worse and worse.
Boe will now need to do huge rate rises but it’s unlikely to stop reaching parity which will cause even more sell off due to the psychological barrier.
Boe then can’t even risk qe, our borrowing costs are set to become astronomical unless the government restores the confidence of the puic and the markets.
Only way that’s happening is to put a windfall tax on oil and gas companies, reinstate top tax bracket and possibly also put a robin hood tax on the city.
Everyone with a Braincell saw this coming. The party of fiscal responsibility
Imagine actually being a Tory MP or voter and not feeling a sense of deep, gnawing embarrassment.
It boggles the mind
The fact the new chancellor is (was link below) (10 years ago a nobody, let alone chancellor edit) a consultant for a hedgefund who is actively shorting the pound really sums this government up.
EDIT – (If you’re paying 10k per “consultant fee” in 2012 when this bloke was a muppet, are you not paying him now when he’s in charge of the whole fiscal policy of a G7 country? Make it make sense.)
For my peace of mind, please.
Stole this from https://www.reddit.com/user/DankiusMMeme/ PLEASE WATCH THIS.
https://www.youtube.com/watch?v=yCWaUnIBq90
https://twitter.com/MassiveAttackUK/status/1573650493779443714?s=20&t=wROHdMZWJl7SKcD_Vktz4w
https://iea.org.uk/publications/research/binding-the-hands-of-government-a-credible-fiscal-rule-for-the-uk
So at what point does purposeful manipulation of the markets to short the pound as a way to make money count as treason?
The pound will sink below the US dollar and capitalists will still expect us to keep on working as if nothing has happened. This will be a rough winter when prices of necessary goods and services keep rising and the value of our paycheques reduces
Kami-Kwasi is at the controls and he is happy about this.
It’s exactly what his old boss Crispin Odey wanted.
1 Euro now at 0.96 US Dollars as well, wtf. Dollar to the moon.
The Hedge Fund Lizzie is working for must have a crazy gains from shorting the Pound. Again, that illusive conflict of interest theory 🙂
Reading international coverage of my government’s desperate Hail Mary makes me feel like a teenager whose dad has arrived to pick them up from school in a brand new Mustang, wearing a toupee
Anyone not on a fixed rate mortgage, you are gonna see massive rate increases this winter as the BOE is forced to not only fight the inflationary pressures caused by the Barber style tax cuts, but also to maintain confidence in Sterling.
The tory party has sold homeowners down the river.
Games are being played. There will be colossal support at 1. It’s just done a 4p reversal. Tories and the hedgefund friends literally playing games with the future of this country.
How long before Truss asks Biden if we can have the dollar?
The tories are in smash and grab mode, Not going to win the next election, so let’s fill our pockets and all our mates too.
I live in the UK, but get paid in dollars. What should I be doing with my pay? Still converting it to Sterling or?
When are thy going to fucking stop? Haven’t they done enough damage?
Everyone moans nobody does anything, sums up Britain.
Don’t worry everyone, in a couple of years, assuming the media let him in, Kier Starmer will put the 45p rate back on income tax and save us all!
God damn, it’s the hypocrisy and double standards that gets me.
When Labour suggested a bit of borrowing to fund a national investment bank, people called him mad and said it would tank the pound.
Now the Tories are pure borrowing to fund this, the pound has tanked and it barely gets talked about?
You shouldn’t be allowed to work other jobs if you’re an MP. Change my mind.
Lovely. Can’t wait for an emergency hike in interest rates. No doubt remortgages will be affected but savings will barely budge.
You know what I’m sick of? People who voted Tory and are now saying, ‘Yes, but I didn’t vote for THIS’.
Yes you fucking did you were just too lazy/ignorant/stupid/naïve/selfish etc to notice. I swear there should be a fucking pop quiz before you’re allowed to vote.
I’m at the point of having to try and turn off the news and go into isolation as I can’t stand reading / hearing about how far into oblivion we’re about to fall. How anyone can stand behind this, and the previous cabinet(s) under the tories in the last decade, absolutely blows my mind. Either sheer incompetence or corruption or both.. I’m not sure which.
good thing the people shorting the pound now get their bonuses too
Amazing, god I love Liz Truss.
Rule Britannia, Taking Back Control, etc etc.
Fucking Tories.
Turned down a job offer that would pay in dollars a few months ago, painful!
I hate money and what it does to people and societies.
I can’t believe how fucking corrupt this government is. I never expected to see this shit in England.
We’ve had four Tory prime ministers in the space of twelve years, two of which were put into place by the tories themselves. Surely that is enough to show that this party cannot govern and yet people will still vote for them and I just can’t understand why
How does anything trickle down when rich people’s investments are tanking?
What a disaster Truss is.
They literally picked the absolute worst on purpose it seems
I’m sorry if this is stupid question; how does this impact me (poor person who already was living pay heck to pay check who is already wondering how I’m going to keep paying for the increase in my fuel bill and have enough food to feed my daughter and I?)
Does this mean food prices will keep increasing? I have a credit card but no mortgage etc?
Sorry if this is stupid question, every day I wake up thinking what next
Why is nobody protesting? You Brits enjoy a good protest. That Government seem to have increased the pace, of the theft of money from the working class and middle class to the rich. The erosion of rights are increasingly becoming narrower and as the pace of theft increases further, they will become narrower even again. I would say now is as good a time as any to say enough is enough.
> …didn’t vote Truss in…
We did, in this country people vote for their MPs, the party with the largest number of MPs form a government, the government decides who becomes PM.
Don’t vote Conservatives.
I’m an immigrant with financial obligations back home like student loans and taxes, so I’m panicking about the falling pound. Already low wages and cost of living have been making it hard to live here, and now the pound in free fall is just compounding things.
I’m going to protest on 1 Oct because I need to do something. Let’s make Truss a short lived nightmare.
should really put to bed the tories are good with the economy and labour not. Borrowing now for tax cuts and not before is fucking criminal. And this is coming from someone benefitting MASSIVELY from tory rule, they are not fit to govern the country
Robbing Truss
Robbing Truss
Riding through the glen
Robbing Truss
Robbing Truss
With Kwasi Kwarteng
She steals from the poor
And gives to the rich
That’s her pitch
Ghastly witch
Stupid bitch