DOOM: Wages

[jamesbrown]

Treasury always wants to issue very long term debt, but if the market wants more short term then Treasury gotto do it.

They had the option to flip them out when rates were low, but Rishi fooked up.

[AtW]

They don't mean insurance like car insurance, they mean converting debt with short maturity into debt with longer maturity because short-duration bonds are more exposed to bank rate - plenty were advising this last year.

Treasury always wants to issue very long term debt, but if the market wants more short term then Treasury gotto do it.

[BlasterBates]

Rishi Sunak is simply trying to balance the books after the voters voted to "f*** business" in 2019.

[jamesbrown]

Treasury got very high influence over BoE, so taking out insurance policy over something that one can and will do is fraud, who'd insure such massive amount anyway, and how much would insurance cost - 5-6% of the debt per annum?

They don't mean insurance like car insurance, they mean converting debt with short maturity into debt with longer maturity because short-duration bonds are more exposed to bank rate - plenty were advising this last year.

[AtW]

Treasury got very high influence over BoE, so taking out insurance policy over something that one can and will do is fraud, who'd insure such massive amount anyway, and how much would insurance cost - 5-6% of the debt per annum?

[jamesbrown]

https://twitter.com/MattGarrahan/sta...03224779931649

[jamesbrown]

Methinks Rishi doth protest too much about being an "instinctive tax cutter". He's a big state, tax raising Brownite cretin. Watch him not row back from the CT increases coming through next year. Autumn budget: "blah, blah, but you can now offset some of your massively increased tax by spending more on plant and machinery!". Tosser.

[AtW]

"Boris Johnson warns of ‘wage-price spiral’ if workers demand higher pay

PM raises spectre of 1970s-style economic crisis that could force dramatic rise in interest rates

Boris Johnson has raised the spectre of a 1970s-style “wage-price spiral” that could force the Bank of England to push up interest rates dramatically if workers demand to be compensated for rocketing prices.

Instead the prime minister promised a return to lowering taxes, cutting government spending and slashing regulation, after a renewed push by backbench Conservative MPs.

In the speech in Blackpool on Thursday, billed as a reset of his premiership after MPs forced a bruising no-confidence vote in his leadership, Johnson said the current tax burden was an “aberration” and the state must reduce its spending.

It came as Conservative MPs prepared to formally launch a tax-cutting lobbying group, which some Tories claimed had already influenced the prime minister’s speech.

MPs who are promoting the renewal of the Thatcherite lobbying group, Conservative Way Forward, said key talking points from its pre-launch memo had influenced Johnson’s warnings on “tax and spend”."

https://www.theguardian.com/politics...and-higher-pay

Well cut the fecking taxes, starting with the new ones YOU introduced in April, you fook face