Kwasi economics....
- Thread starter Fab Foodie
- Start date
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albion
Guru
The Mail to the rescue.
https://www.thisismoney.co.uk/money...amp/ALEX-BRUMMER-Sterlings-rebound-hopes.html
Investors will soon love us as we just print money?
https://www.thisismoney.co.uk/money...amp/ALEX-BRUMMER-Sterlings-rebound-hopes.html
Investors will soon love us as we just print money?
deptfordmarmoset
Über Member
My prediction is that when the ''going for growth'' story fails, it will be blamed on the imminent global recession. It will be treated as an unfortunate factor outside of government's control. They'll say it was unpredictable but it won't have been.
The pound's fall in the exchange rate will mean that inflationary pressures will increase. Petrol, for example, is traded with the dollar and we've just lost something like 7% on sterling so that's 10p to put back onto the sterling price of a gallon of petrol. The same inflationary pressure will apply to all imported raw materials traded in dollars, slightly less for euro-traded materials.
That money given to the well-off is our debt to be paid back at rising interest rates, a debt burden that will suck more and more money out of the economy making growth even less likely.
I hope that I'm 100% wrong.
The pound's fall in the exchange rate will mean that inflationary pressures will increase. Petrol, for example, is traded with the dollar and we've just lost something like 7% on sterling so that's 10p to put back onto the sterling price of a gallon of petrol. The same inflationary pressure will apply to all imported raw materials traded in dollars, slightly less for euro-traded materials.
That money given to the well-off is our debt to be paid back at rising interest rates, a debt burden that will suck more and more money out of the economy making growth even less likely.
I hope that I'm 100% wrong.
Beebo
Veteran
It’s at an all time low of $1.04 this morning.
I bet it’s below parity in the tourist currency exchanges.
newfhouse
pleb
This is what taking back control of our money looks like.
albion
Guru
https://www.theguardian.com/busines...-underlines-schoolboy-error-by-kwasi-kwarteng
In describing it as a schoolboy error, the point is that they do not give a fcuk and have not since Boris Johnson sported his massive hangover type shock on finding he had won the Brexit vote.
In describing it as a schoolboy error, the point is that they do not give a fcuk and have not since Boris Johnson sported his massive hangover type shock on finding he had won the Brexit vote.
deptfordmarmoset
Über Member
The housing market could be in for a very rough time too - the BoE is going to have to hoik interest rates to keep inflation below the 20% rate, which is pretty much where it's heading. So mortgage rates rising at a time of probable global recession and near certain UK recession is going to mean a lot of defaulted homes.
deptfordmarmoset
Über Member
Are you sure that it was a schoolboy error though? It looked like a deliberate move to further destabilise the pound. If you promise further unfunded tax cuts when the markets are already spooked, what do you think will happen.
View: https://twitter.com/gem_abbott/status/1574340607409111040
D
Deleted member 49
Guest
It might be funny if it didn't effect us !
View: https://twitter.com/breeallegretti/status/1574339701493858306?t=jvlKVsKErYvn6FEG54gHoQ&s=19
View: https://twitter.com/breeallegretti/status/1574339701493858306?t=jvlKVsKErYvn6FEG54gHoQ&s=19
BoldonLad
Old man on a bike. Not a member of a clique.
- Location
- South Tyneside
Action replay of the 1970's, what joy
OP
OP
Fab Foodie
Guru
Flares, Glam Rock, Choppers...what's not to like?
BoldonLad
Old man on a bike. Not a member of a clique.
- Location
- South Tyneside
As a parent at the time:
Inflation
High interest rates
Strikes
Unreliable cars
Other than the arrival of my children, not a happy decade in my life!
