Kwasi economics....
- Thread starter Fab Foodie
- Start date
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OP
OP
Fab Foodie
Guru
I think you'll find you're being pi55ed-on from a great height, so know your place pleb....
how's that new behaviour code doing????........
Xipe Totec
Something nasty in the woodshed
It's how they plan to keep The Poors warm this winter.
albion
Guru
Under orders.https://www.theguardian.com/business/live/2022/sep/28/sterling-slumps-imf-urges-uk-reconsider-tax-cuts-stinging-attack-business-live
'the Bank will carry out temporary purchases of long-dated UK government bonds from 28 September. The purpose of these purchases will be to restore orderly market conditions. The purchases will be carried out on whatever scale is necessary to effect this outcome. '
Sounds like an acceleration of bankruptcy, though I am maybe even more out of my depth on this one.
'the Bank will carry out temporary purchases of long-dated UK government bonds from 28 September. The purpose of these purchases will be to restore orderly market conditions. The purchases will be carried out on whatever scale is necessary to effect this outcome. '
Sounds like an acceleration of bankruptcy, though I am maybe even more out of my depth on this one.
cookiemonster
Veteran
- Location
- Far away from the asylum
stowie
Active Member
It means it is all going very well.
Government bonds have been hit globally, but this government stuck a rocket up the arse of UK bonds with the "mini not a budget, no really it isn't" on Friday. Yields - the cost the government pays to borrow - has done this (30yr gilt yield)...
The dip down being today when the BoE said it would be buying long term UK government bonds, so the market now has intervention of a huge player to tip supply and demand etc.
I think (but may be mistaken) that one of Truss' plans was to change the short term debt (mainly accrued during COVID) into longer term debt but this has just got quite a lot more expensive now.
I see that the good old Laffer curve is being trotted by neo-liberals out to justify the higher end tax cuts. There is only one thing you need to know about the Laffer curve. Anyone using it to justify marginal tax rate cuts in the complex multi-rate tax system of a developed economy is a moronic daffodil.
newfhouse
pleb
I’m not (and was never likely to be) offended.
I'm not saying you was.....but the new code says you cant say those things anymore and the person who made the comment was a big YES to the new code being used.
icowden
Legendary Member
You are trying to lead us off topic by wilfully misinterpreting what I suggested. I think you will find that @Fab Foodie was using what we call "humour". Do you want them to add some smileys?
In the meantime, how about actually contributing to this discussion of Kwasi's economic strategy instead of trolling?
dutchguylivingintheuk
Über Member
So it's 7 pages mainly about how bad the tories are, i don't say i disagree, but i'm just wondering, What would for example Labour have done better?
And would that not have lead to the £ crash where now facing?
And would that not have lead to the £ crash where now facing?
Bromptonaut
Rohan Man
- Location
- Bugbrooke, Northants
One thing Labour would not do is borrow money to fund tax giveaways accruing mostly to those already well off.
They might also have borrowed earlier in the cycle when it was cheaper and with the intention of building infrastructure.
icowden
Legendary Member
Just done the basics such as run Budget decisions past the OBR rather than just doing whatever they feel like?
Expanded investment into renewables instead of pretending that fracking was in any way helpful?
Negotiated with Europe to restore our export market and bolster our key workers?
Not developed "free ports" to give tax breaks to their mates?
Not reduced tax for the very rich to make them richer?
BoldonLad
Old man on a bike. Not a member of a clique.
- Location
- South Tyneside
No. We never had the value of the pound falling, devaluation, balance of payments crisis, Banking crisis, etc when Labour were in power. Harold Wilson never used the words "the pound in your pocket....etc".
deptfordmarmoset
Über Member
Also, as Tories are attributing supernatural powers to Labour, there must be some advantages to getting them elected.
View: https://twitter.com/Number10cat/status/1575062370585440256
View: https://twitter.com/Number10cat/status/1575062370585440256
