Kwasi economics....

[deptfordmarmoset]

Worth reading Larry Summer's thread.


View: https://twitter.com/LHSummers/status/1574586690869641216?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1574586690869641216%7Ctwgr%5Ec046196e29b165e0a8fe371266e9e3324148ad80%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.theguardian.com%2Fbusiness%2Flive%2F2022%2Fsep%2F27%2Fsterling-crisis-markets-kwarteng-bank-of-england-mortgages-business-live

 

[Salty seadog]

Have any of our government's supporters popped up to defend this utter shoot show yet?
This venal party are ripping the guts out of the country, making themselves and their donors richer while tanking the economy and making pretty much everyone else poorer, anyone wanna tell us they voted for this?

As long as tories tell us all our ills are from foreign types and vilify immigrants then loads will vote for them thinking all the brown people will go home.

 

[Salty seadog]

Always worth a listen.

View: https://youtu.be/w-V5FVludFk

 

[deptfordmarmoset]

But....all that money taken out by hedge fund managers, won't it just trickle down....?

 

[deptfordmarmoset]

I grew up around here....

View: https://twitter.com/KidbrookeKing/status/1574379965759504386

 

[cookiemonster]

 

[Fab Foodie]

But....all that money taken out by hedge fund managers, won't it just trickle down....?

It will in the car factories of Germany and the luxury goods suppliers of Italy....

 

[albion]

As long as tories tell us all our ills are from foreign types and vilify immigrants then loads will vote for them thinking all the brown people will go home.

Sadly, cyclists often get added to the, someone to blame, list

 

[Craig the cyclist]

It will in the car factories of Germany and the luxury goods suppliers of Italy....

Which means that it will trickle down to the car salesmen and suppliers, garages who do the servicing, detailers, petrol stations, Halfords, tyre fitters etc etc. Or do you think that a hedge fund manager will buy direct from Mercedes and send it to Germany for servicing, new tyres and to get the lights pimped?

 

[Beebo]

The IMF have advised the government to reconsider tax cuts.

https://www.bbc.co.uk/news/business-63051702

Imagine the uproar if Labour were ignoring international financial advice.

 

[deptfordmarmoset]

The IMF have advised the government to reconsider tax cuts.

https://www.bbc.co.uk/news/business-63051702

Imagine the uproar if Labour were ignoring international financial advice.

And even the BBC are covering the news now!

 

[presta]

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.

 

[icowden]

This is all you need to know about Kwarteng:-
https://www.independent.co.uk/news/uk/politics/tory-donor-profit-pound-sterling-b2176258.html

“It’s been helpful,” Mr Odey told the Financial Times on his short position on Sterling, while describing his bets against gilts as “the gifts that keep on giving”.
The Tory donor dismissed that idea that he had any kind of trading advantage because Mr Kwarteng previously worked for his firm.

Crispin Odey is worth £825,000,000. His hedge fund is up 145% as a result of Kwarteng's mini budget. He made £220,000,000 from shorting the pound on the Brexit referendum. I'm guessing he's added another hundred million or so this time.

 

[newfhouse]

This is all you need to know about Kwarteng:-
https://www.independent.co.uk/news/uk/politics/tory-donor-profit-pound-sterling-b2176258.html

Crispin Odey is worth £825,000,000. His hedge fund is up 145% as a result of Kwarteng's mini budget. He made £220,000,000 from shorting the pound on the Brexit referendum. I'm guessing he's added another hundred million or so this time.

Is that a warm trickle I can feel?

 

[Beebo]

This is all you need to know about Kwarteng:-
https://www.independent.co.uk/news/uk/politics/tory-donor-profit-pound-sterling-b2176258.html

Crispin Odey is worth £825,000,000. His hedge fund is up 145% as a result of Kwarteng's mini budget. He made £220,000,000 from shorting the pound on the Brexit referendum. I'm guessing he's added another hundred million or so this time.

It’s basically insider trading and somebody should be going to jail.