Mailwatch(ed) Forum

Lefty IMF says "Don't be so fucking silly"

48 hours before I need currency, the Turkish Lira no longer finds itself the global laughing stock and claws back a good six percent.

When you're in the market for grilled octopus and gentlemen's accessories, that clips the edge off the coming joy. Bastard Kwazi!

Remember that talk of refinancing Covid debt at cheap long term rates? How's that going?

kreuzberger wrote: ↑Tue Sep 27, 2022 9:01 pm 48 hours before I need currency, the Turkish Lira no longer finds itself the global laughing stock and claws back a good six percent.

When you're in the market for grilled octopus and gentlemen's accessories, that clips the edge off the coming joy. Bastard Kwazi!

Ironically, a badly weakening pound sterling would normally be good news for the tourism sector in Britain if it wasn't for two things...

1. The peak of the tourist season for foreign visitors is well over and aside from a possible short term boom at Christmas & New Year, won't see any significant numbers again until at least Easter.

And 2. It would have helped if the last few years hadn't seen a large section of the population essentially tell anyone who wasn't a white person that spoke English as their first language to fuck off with great gusto.

I think my assessment in the original post of this thread has been amply borne out...

The Guardian wrote:One MP said: “Kwasi will have to go. She won’t have any option. They are actually crashing the economy and she will need somebody to blame.”

Another added: “It’s extinction level stuff. This is like 2008 but worse. We’re messing with the fundamental principle of providing a home for your family. That’s why it’s different: it’s real stuff. The public won’t forgive or forget.”

Another MP said: “The markets have completely lost confidence in the British government. If you reverse everything, the government falls, so they’re not going to do that. She could sack Kwasi and appoint somebody who could then make a few tweaks. But I think people are seriously underpricing the chance that it’s all over, that this government is dead on arrival.”

https://www.theguardian.com/politics/20 ... SApp_Other

I can't see how Truss herself can survive this. Kwarteng is implementing the policy which Truss was championing during her leadership hustings a mere four weeks ago, she can't absolve herself from blame.

Thor on a Travelator! Kamikwaze has lost the Financial Times!

Only an opinion piece, but still...

https://www.ft.com/content/e6884fa0-589 ... 4ac743571a

An economist on the news this morning pointed out that sacking the permanent secretary the moment he became chancellor didn't really bode well for reassuring the markets that the chancellor knew what he was doing.

Presumably he had to be sacked because he would never have agreed to such reckless measures being introduced.

satnav wrote: ↑Thu Sep 29, 2022 5:33 pm An economist on the news this morning pointed out that sacking the permanent secretary the moment he became chancellor didn't really bode well for reassuring the markets that the chancellor knew what he was doing.

Presumably he had to be sacked because he would never have agreed to such reckless measures being introduced.

Looks that way.

From The Guardian

Stride is Mel Stride (Con) Chair of the Treasury Committee

Stride reveals that Kwarteng is refusing to appear before the Treasury select committee to give evidence about his mini-budget. The mini-budget was described as the biggest tax announcement for 50 years, and normally a chancellor would come to the committee soon afterwards to take questions on an announcement like this. But Stride says Kwarteng has refused an invitation to appear, and wants to delay giving evidence until after he has delivered the medium-term fiscal plan in late November. Stride called this “disappointing” and said previous chancellors had not acted like this.

Arrogant bastard!

Malcolm Armsteen wrote: ↑Thu Sep 29, 2022 5:24 pm Thor on a Travelator! Kamikwaze has lost the Financial Times!

Only an opinion piece, but still...

https://www.ft.com/content/e6884fa0-589 ... 4ac743571a

FT has never been a home for wild eyed libertarian economics. I read Kwasi’s approval ratings is seven percent. Doesn’t look like Britannia Unchained* is resonating in Surrey let alone Sunderland.

* Better known as getting Brexit done.

satnav wrote: ↑Thu Sep 29, 2022 5:33 pm An economist on the news this morning pointed out that sacking the permanent secretary the moment he became chancellor didn't really bode well for reassuring the markets that the chancellor knew what he was doing.

Presumably he had to be sacked because he would never have agreed to such reckless measures being introduced.

Same reason he turned down the OBR forecast they had offered to provide.

Plan is that the OBR deliver their plan on 7 October, and the Government keep it secret till November.

I'm sure this is exactly what the markets were demanding.

Give Kwasi time to copy the grownup bits

Watchman wrote: ↑Fri Sep 30, 2022 1:53 pm Give Kwasi time to colour in the tricky bits

FTFY

I’m not tribal enough not to enjoy Kwarteng’s amusement at the Mirror’s expense. Twats.

Ha ha ha.

Oh, man. I'm sympathetic to the idea that people a long way down the income scale need to pay more tax to get anything like the services we want. And I had some grudging respect for Sunak in levelling with us about that.

But how does it follow that the highest rates of tax get cut at the same time?

Waiting for Champagne Kwasi to start trending.