....more armchair politics (Part 1)

[MrKettle]

@BobC

the Tax payers Alliance

Right now we need the Trades Description Act set on that lot.

[pbg]

Any think tank or lobbyist group should have to disclose all their funding and membership to get any access to government and minutes should have to be made public. It won’t happen but they are corrupting things everywhere, especially here and in the US

[thebiglebowski]

When confronted with the truth you fucked up you should always lie, bullshit, deflect but never ever admit a mistake and correct it.

Defending last Friday’s mini-budget, she says avoiding a projected economic slowdown meant it was important the government took action quickly.

“Of course there are elements of controversy, as there always are," she adds.

Challenged with critical comments from the International Monetary Fund (IMF), she says: “What nobody is arguing with is that we had to take action”.

She says the challenges facing the UK have been caused by the war in Ukraine, adding: “It’s not just Britain facing difficulties, this is a global problem.”

And Truss says it “simply isn’t true” that the tax cuts announced on Friday will benefit higher earners.

[coco]

@Gyroscope

@Nick_Dartmoor

a maths genius, and highly unlikely to be acting without insight

Personally I still favour groupthink and hubris. The grubby little believers in the IEA etc. have been wanking each other off about how radical and clever they are for so long that it never occurred to them that they were doing something really stupid.

All the financial institutions employ as many galaxy-brains as they can get their hands on. These guys have taken one look at Karteng’s “plans” (or lack thereof), said “nope, that’s dogshit” and advised appropriately.

Bingo. It’s Dunning Kruger manifest.

@BobC

Government on R4 denying that this crisis was anything to do with them and that their policies are supported by those that matter, such as the CBI. It looks like the line is to keep mentioning Putin’s gas price rise, international turmoil and recession on the horizon anyway, the energy cost cap, and the need to attract high paid individuals to the City to justify the to rate tax cut.

Cunts.

“Yeah, but look at Japan”. Whataboutism at its best.

[BobC]

They need a good looking at, they are the single most influential lobby group out there.

When asked the other day about their secrecy they justified it because of security concerns about left wing agitators attacking them, their staff and their families. Laughable.

[murrayjohnson]

55 Tufton Street: The other black door shaping British politics

I found this sentence the most interesting.

“The BBC did ask representatives from the organisations mentioned for an interview, but no-one came forward.”

Curious, they’re usually so keen…

[pbg]

@BobC

they are the single most influential lobby group out there

I suspect they are just one of the few you’ve heard of.

[68rednose]

On a serious note, see below text from the link.
Anybody in the UK with savings should now go into 10 to 30 year government bonds, as you will have a 4% yield without any risks?
I haven’t seen rates like this for decades for savings accounts and a friend who went into stocks hasn’t gained much in 20 years.

UK government bond yields rise again

Yields (or interest rates) on UK government bonds are rising again, a day after the Bank of England’s emergency intervention led to a sharp drop.

The 30-year yield, which plunged by more than 1 percentage point on Wednesday, has risen to 4.06% while the 10-year yield has climbed to 4.17%. Any rise in yields pushes up government borrowing costs.

Sweeping tax cuts announced by Kwasi Kwarteng in his mini-budget last week have triggered investor panic over a borrowing binge and the future health of the UK economy.

40% of mortgage deals pulled since mini-budget; financial markets in turmoil...

[pbg]

Lovely news for rich people with money to invest. Of course what it means is the UK will be paying even more of our taxes out as interest, for years and years. Cunts are literally mortgaging the country and pocketing all the equity that was there. That is basically how 2008 came about, but this is an entire country being treated as a slush fund.

[stu]

Ione Wells

[68rednose]

@pbg

Lovely news for rich people with money to invest.

Not necessarily exclusively for rich people?
We were mostly a single income household with two kids (so hardly savings).
It’s more standard that households are based on two incomes. many ordinary people with dual income in NL do have savings, maybe it’s a cultural thing.

[MJ2]

@68rednose

many ordinary people with dual income in NL do have savings, maybe it’s a cultural thing.

Or maybe it’s an opportunity thing

[murrayjohnson]

Dino Sofos

and this one

Dino Sofos

[pbg]

For most people, savings is money in the bank, not government bonds. As always, those bank rates will go up far far slower (if ever) compared to the BOE rates.

[thebiglebowski]

She’s certainly putting all her effort into the plan for her to screw things up so badly that everyone wants Boris back.

[Kevin]

Who is going to buy a 10 year or 30 year bond?
I might have savings now but who knows where I will be in 5 years? I might need access to those funds.
The bonds you are talking about are not really suitable for private individuals unless they have a lot of money and can commit a part of it for 10 or 30 years.

[MrKettle]

@Kevin

Who is going to buy a 10 year or 30 year bond?

A pension scheme with people retiring in 10 or 30 years.

[Kevin]

Obvs

Try reading the rest of the post. Rudi was talking about individuals

[Tons_of_fun]

I believe that the entire UK is now a script by Armando Ianucci and Chris Morris;

Alexander Clarkson

[murrayjohnson]

Dan Snow: “That was the worst provincial campaign of any of our leaders since autumn 1216 when King John marched about dealing with a rebellion & two invasions, caught dysentery in Norfolk, lost the Crown Jewels in The Wash and died in Nottinghamshire”