• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

DOOM: Sterling

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #31
    And punk rock.
    Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

    Comment


      #32
      Originally posted by WTFH View Post
      It’s like 1972 all over again.
      1. Tory government cuts taxes to boost the economy.
      2. Only the wealthy benefit.
      3. The poor suffer
      4. Workers go on strike
      5. For the next 50+ years, the right wing faithful forget about 1972, 1973, etc, and say that every single problem was the fault of Labour in 1974.
      Yes, and this is the only playbook that makes any sense; crash and burn, Labour in and takes the blame. Otherwise what they are doing seems completely insane, even by the standards of the current Tory party.

      Comment


        #33
        Originally posted by SueEllen View Post

        Do we get a Thatcher in 1979?

        And a war against some random British Island a few years later?
        By Jingo, I think you've got a Cunning Plan there!

        When the fun stops, STOP.

        Comment


          #34
          Originally posted by DoctorStrangelove View Post

          By Jingo, I think you've got a Cunning Plan there!
          Which Tory back bench MP is the new Thatcher? Who is the hidden cream from this current tulipstorm of Tory MPs?

          We've already had Labours new Foot.
          "You’re just a bad memory who doesn’t know when to go away" JR

          Comment


            #35
            https://www.telegraph.co.uk/politics...-falls-dollar/

            Tories to rebel against Liz Truss if pound falls below the dollar Backbenchers say they will ‘hit the nuclear button’ and vote against Prime Minister’s tax cuts if currency continues to slump

            Liz Truss faces a rebellion from Tory backbenchers against her tax cuts if the pound falls below the dollar, The Telegraph can reveal.


            Both supporters and critics of the Prime Minister on the Conservative benches believe such a slump would be the trigger for MPs to “hit the nuclear button” by refusing to vote for the Government’s finance bill or submitting letters of no confidence.

            The warning comes as MPs nervously await the reopening of markets on Monday.

            One Tory MP told The Telegraph: “My biggest anxiety is that I’m going to wake up on Monday and it’s going to be Black Monday.”

            The pound fell to a fresh 37-year-low against the dollar as Kwasi Kwarteng’s mini-Budget unveiled tax cuts funded by extra borrowing.

            There is deep anxiety among Conservative MPs who backed Rishi Sunak in the leadership race about the implications of the fiscal statement for inflation and interest rates.

            But with Ms Truss only weeks into the job, there is a reluctance to break cover to oppose the plans.

            “It’s way beyond anything she hinted at [in the leadership campaign] and she’s not well liked, but we’re only three weeks in, barely that,” one former minister said.

            However, if there is chaos in the financial markets in the coming weeks, the discontent is likely to explode into the open.

            The performance of the pound and any consequent move by the Bank of England to raise interest rates will play a key part in determining how backbenchers respond

            One Tory MP said Mr Kwarteng’s statement was “much more expansive than what people were expecting” and they were disconcerted by how markets had been sent into a “tailspin” on Friday.

            “This Budget will live or die not on what the electorate think, not on what Opposition politicians think, not even what Conservative politicians think,” they said. “It is the global markets’ response to what looks like very risky behaviour from our Government.”

            They added: “The Bank of England is being backed into a corner.

            “If you’re already in a recession and you raise interest rates by, say, 100 basis points, which some people have been talking about, it’s like accelerating your car into a brick wall.

            “If the pound drops below one dollar, that’s territory for me where I’m afraid I would hit the nuclear button ... I just think that would be unconscionable.”

            Another Tory MP agreed that the behaviour of the markets would be crucial. “The commentary, the way the market responds through the next two weeks, will all condition how we come back on October 11 [after the party conference recess].

            “I don’t think it’s that people aren’t clear that they’re very concerned, but the landing of what the response is not yet defined.”

            However, other MPs and commentators played down the market’s reaction. Sir Iain Duncan Smith, the former Conservative party leader, said it was “almost inevitable” and represented a “herd mentality” among traders. “This panic that goes on is unsubstantiated,” he said.

            Julian Jessop, at the Institute of Economic Affairs, said markets tumbled in part because “investors basically hate uncertainty and change”.

            “Markets are fickle. Clearly UK assets are out of favour at the moment, but if this is indeed the right economic policy to pursue, as I think it is, and you start seeing the benefits over the coming weeks … I think sentiment towards the pound and the gilt market can turn very quickly.”


            "You’re just a bad memory who doesn’t know when to go away" JR

            Comment


              #36
              https://www.telegraph.co.uk/business...-war-inflation

              Kwarteng warns Bank of England to get grip on inflation

              He stressed it was the Bank's job to ensure inflation, which currently stands at 9.9pc, returns back to its 2pc target.

              ------------
              Meanwhile the Govt are stoking it.
              Last edited by DealorNoDeal; 25 September 2022, 09:11.
              Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

              Comment


                #37
                Originally posted by DealorNoDeal View Post
                https://www.telegraph.co.uk/business...-war-inflation

                Kwarteng warns Bank of England to get grip on inflation

                He stressed it was the Bank's job to ensure inflation, which currently stands at 9.9pc, returns back to its 2pc target.

                ------------
                Meanwhile the Govt are stoking it.

                How high can they go?
                "You’re just a bad memory who doesn’t know when to go away" JR

                Comment


                  #38
                  google average software developer pay US, returns numbers like 100K to 125K

                  google same for UK, returns numbers like 40K to 55K

                  3K after tax, or about double the minimum wage after tax.

                  Do experienced permies still work for that kind of money in the UK?

                  Comment


                    #39
                    Originally posted by Fraidycat View Post
                    google average software developer pay US, returns numbers like 100K to 125K

                    google same for UK, returns numbers like 40K to 55K

                    3K after tax, or about double the minimum wage after tax.

                    Do experienced permies still work for that kind of money in the UK?
                    They do if they haven't run away to another European country.
                    "You’re just a bad memory who doesn’t know when to go away" JR

                    Comment


                      #40
                      Originally posted by Fraidycat View Post
                      google average software developer pay US, returns numbers like 100K to 125K

                      google same for UK, returns numbers like 40K to 55K

                      3K after tax, or about double the minimum wage after tax.

                      Do experienced permies still work for that kind of money in the UK?
                      In glassdoor I see substantially higher salaries. I can't imagine an experienced developer at google in the UK earns only 50K.
                      I'm alright Jack

                      Comment

                      Working...
                      X