Reply to: DOOM: Sterling

[d000hg]

Thought this was a football thread.

[Paddy]

Don't talk down Brexit. You need to believe, you need faith, you need to wait 100 years.

[AtW]

[mattster]

I say again - it's a plot to generate tax cuts about four months before the next election.

They might try it, but it will take more than tax cuts to save them by the time of the next election. Half of the middle classes will have been wiped out.

[malvolio]

Sterling fell because BOE bascially admitted we are completely screwed. Recession until 2024, 0.75% PA growth thereafter. Death spiral of ever increasing tax take, decreasing public investment and failing public services with no credible plan to get out of it. We are regressing to developing country status with incredible speed but it is the will of the people so therefore we cannot change course.

That's what happens when the Tories forget what they are supposed to be and listen to the Treasury's antiquated views on reality. Sunak was not all that successful as a Chancellor and it doesn't look like he will be any better as a PM. At least he can blame Hunt (another failure) for everything - as well as the Covid, Putin, and everything else.

FWIW there's plenty of commentary about that we're still in growth (as opposed to its opposite) so talk of recession is premature, the £50bn is a reducing number, the fuel costs are coming down further reducing the cost of the energy support programme and even the BoE has reigned back on its doom saying prognostications.

I say again - it's a plot to generate tax cuts about four months before the next election.

[mattster]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

Sterling fell because BOE bascially admitted we are completely screwed. Recession until 2024, 0.75% PA growth thereafter. Death spiral of ever increasing tax take, decreasing public investment and failing public services with no credible plan to get out of it. We are regressing to developing country status with incredible speed but it is the will of the people so therefore we cannot change course.

[AtW]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

If only he said so few weeks ago when Truss needed it

[_V_]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

10% price inflation is fine, let's face it everything doubling in price every 7 years is not a problem. I'm sure It contractor rates will double too.

[DealorNoDeal]

I think Sterling fell partly because the BoE signalled that interest rates may not need to go much higher.

[SueEllen]

I thought the same! So she wanted to cut tax and spend more, but the pound tanks, so she gets forced out. Rishi wants to put up tax, spend less and the BoE hike interest rates, and still the pound tanks. No-one dies.

She was listening to a mad professor.

He's listening to current orthodoxy.

[ladymuck]

Now that Truss is out suddenly nobody cares about currency drops?

“The pound fell 2.6pc against the dollar following the interest rate decision, as currency traders reined in their bets of further rate rises.”

https://www.telegraph.co.uk/business...ebuke-markets/

I thought the same! So she wanted to cut tax and spend more, but the pound tanks, so she gets forced out. Rishi wants to put up tax, spend less and the BoE hike interest rates, and still the pound tanks. No-one dies.

[AtW]

Did you miss the article about the massive tax hikes?

Trying to forget it…

[jamesbrown]

Did you miss the article about the massive tax hikes?

[AtW]

Now that Truss is out suddenly nobody cares about currency drops?

“The pound fell 2.6pc against the dollar following the interest rate decision, as currency traders reined in their bets of further rate rises.”

https://www.telegraph.co.uk/business...ebuke-markets/

[jamesbrown]

We need an upside down banana.