Should we trust Sunak or the next PM to fix the Country's problems? (title revised 24/10/22)

[tobyjugg2]

Truss PM for less time than the leadership contest took - despite the leadership contest being dragged out

That would be some record to beat - and hugely funny if the doing wasn't destroying our nation and so many lives.

 

Who TF will run this time?

- the same old same old of last time - Truss (she served her purpose) +  'the corrupt liar' and grayling?

 

Is that the plan?

Keep running leadership contests every couple of months with a brief interlude of extreme trashing the remnants of the economy, reputation and environment in-between each one?

Edited September 27, 2022 by tobyjugg2

[tobyjugg2]

Their doners are talking

 

Tory donor makes huge profits from falling pound

WWW.INDEPENDENT.CO.UK

---

‘It’s been helpful’, says Crispin Odey on his bets against Sterling amid market turmoil

 

[tobyjugg2]

So after Johnson then truss, whos the next PM? Ken Dodds evil brother? or worse?

 

On the practical side, UKs massively increased borrowing (bonds) now warrants a significantly higher return/interest rate (costs more) than Italy or Greece, and twice that of Germany or France.

 

Edited September 28, 2022 by tobyjugg2

[tobyjugg2]

She wanted to wait until November before saying owt didn't she?

 

Piers Morgan

[tobyjugg2]

This ones already been passed as OK by OFcom, So we can all hope a

“vent opens up in the ground and clawed hands drag [Johnson] screaming into hell”

 

Seems reasonable that Ofcom would declare adding Truss and Kwasi in those brackets is fine too given the Johnson adjudication?

Edited September 28, 2022 by tobyjugg2

[tobyjugg2]

11 hours ago, honeybee13 said:

And here's the Washington Post.

 

"Britain has replaced Italy as Europe’s problem economy. Having left the EU, the new Conservative government led by Prime Minister Liz Truss faces almost no constraints. She was expected to be bold. She is turning out to be bonkers."

 

https://www.washingtonpost.com/opinions/2022/09/26/britain-europe-weak-economy/

 

 

I dont think anyone could have reasonably thought Truss was a good choice for Britain, even those who thought johnson would be despite his record.

So something else is at play.

Trashing a nation to make some money is bragging rights, not shameful in some eyes.

Edited September 28, 2022 by tobyjugg2

[tobyjugg2]

Lets just put this in a simplified perspective.

 

Mad Mary and KamiKwazi have just FURTHER trashed the UK economy to put an extra £200B on the taxpayers credit card to give most of it to

* Guarantee obscene profits of Energy companies and their mostly foreign shareholders and investors (Over 100 billion pounds)

* Give £1B (one billion GB pounds) in tax breaks to the richest 2,500 people alone

* Give a big wodge (tens of thousands of pounds each) of tax break money to each of the rest of the richest 1% in Britain.

 

 

The excuse was to boost the economy. What it has actually done has pretty much doubled the cost of the debt we have and are increasing, and utterly trashed the tattered remnants of our nations fiscal credibility along with ANOTHER huge boot in the nuts of our nations economy

 

- Rather than have a windfall tax on foreign profiting energy companies - who happen to be (allegedly) Tory doners.

While other tory donors and members/MPs allegedly have made millions shorting the pound expecting this crash after (allegedly) being briefed.

 

 

 

 

[tobyjugg2]

What to expect now

 

Doubling down on trying to force more austerity, service reduction and benefits cuts made essential by giving the rich and  energy companies wodges of UK taxpayer money they have just announced

 

then they may 'withdraw the couple billion quid to the rich (probably along with the top 1% couple of billion as a scapegoat while leaving the 100 billion plus for the energy companies

- while effectively threatening to withdraw it all - including the support for the poorer

 

Then Truss will sack kwasi

 

Then a no-confidence vote and/or a general election - although the ERG will NOT want that until they have squeezed every penny they can, re-established fracking and created law-immune tax haven ports

 

Edited September 28, 2022 by tobyjugg2

[tobyjugg2]

it was interesting watching dedwood misrepresent what has been happening

He was claiming it was all the BoE's fault and that the BoE caused it by selling 'bonds into a crashing market.

- which was and is Complete Horsesh*t, with capitals.

 

The BoE was selling bonds to support the pound into a crashing market caused by Truss and Kwack as pension funds were among the first hit - and severely.

No it wasn't an ideal market to sell government bonds into - but they had little choice - as defined by ALL the financial authorities, from the IMF down, with the exception of Redwood and Kwack.

The bond price (cost) had soared to 5% BEFORE the BoE intervened to stabalise it.

 

 

and as predicted here, Kwazi the Kwack is doubling down ...

 

"Chancellor Kwasi Kwarteng has insisted that he is “sticking with” his mini-Budget, also dubbed the “right plan” by prime minister Liz Truss – despite it spooking markets and forcing an emergency Bank of England intervention."

 

 

Kwarteng ‘sticking with’ unpopular mini-Budget – latest

WWW.INDEPENDENT.CO.UK

---

UK Economic Crisis - live updates

 

 

I wont bother linking the many many sources of the real facts as pretty much every news and financial service across the planet  is detailing them.

[tobyjugg2]

and Truss on Fracking from Graham Liver at Radio Lancashire interview

 

"After she (Truss) had stuttered her way through not being able to explain what a new “local consent” mechanism would involve,

he (Graham Oliver) told her:  “Our local MPs don’t want it. All Conservative. In the past the county council have said they didn’t want it. Yet your government overturned it. The science hasn’t changed. Why can’t you tell us this morning there won’t be a return to fracking in Lancashire.”

 

The reply from Truss?

“I don’t accept the premise of your question.”

 

 

Edited September 29, 2022 by tobyjugg2

[tobyjugg2]

On a dark lighter note for a moment - you gotta larf or you'd scream and go on a rampage

 

"That was the worst provincial campaign of any of our leaders since autumn 1216 when King John marched about dealing with a rebellion & two invasions, caught dysentery in Norfolk, lost the Crown Jewels in The Wash and died in Nottinghamshire"

 

- Dan Snow

 

 

Back to reality (one hopes) .. Even with the buffer of a couple of years before a GE

- I really can't see even the pitiful remnants of the Tory party allowing this to continue ...

 

[tobyjugg2]

On the reporting of this, I have found it quite interesting that

 

Sky has as i watched it offered a relatively 'balanced view describing the stated albeit unsupported claims of truss and Kwack alongside high quality experts stating what they see as the realities of the utter wrongness of the actions and claims

 

BBC has shown brief articles with a balancedish view with the unsupported Truss/Kwack claims and countered by brief but entirely supported counter claims, BUT then had the rolling tickers which are constantly rolling the unsupported dog whistle 'quotes' from Truss and Kwack with absolutely zero balance.

 

International news services state that the claims of Truss and Kwack are unsupported and fly in the face of all sense and system, and support that with the expert opinions and detail.

 

 

The BBC may still be somewhat more credible (IMO) regarding reporting UK gov action than is RT on reporting Putins actions, but that really isnt saying much.

 

 

Edited September 29, 2022 by tobyjugg2

[tobyjugg2]

As truss and Kwasi apparently try to strong arm the OBR ...

... after the BoE had to launch a £65B rescue of the economy after Truss' debt funded multi billion gifts to the Energy companies and the Uk's richest .... drove up the cost of that debt and a chunk of other debt markedly

 

In latest yougov poll just 37% of 2019 Tory voters said they would now vote for the Conservatives.

Veteran Tory MP Sir Charles Walker said if the poll lead was repeated at an election, the Conservatives will “cease to exist as a political party”.

 

Other estimates based on the poll translating into election results would put the Tory party with around 50 seats.

Edited September 29, 2022 by tobyjugg2

[tobyjugg2]

Corrected headline and the link

 

UK minister says government will work ON OBR economic forecasts

"want them to have the right level of detail"

.. 'plebs cant be trusted with undoctored forecast'

 

UK minister says government will work with OBR on economic forecasts

WWW.REUTERS.COM

---

Britain's City minister Andrew Griffith said on Friday that Prime Minister Liz Truss and finance minister Kwasi Kwarteng would meet the independent...

 

Edited September 30, 2022 by tobyjugg2

[tobyjugg2]

Yes

Andrew Griffith seems to be the front man (potential sacrificial lamb for a chunk of the flak) to be thrown under the bus of the Truss/Kwacky carry on regardless team.

 

Google him with day time limit on search

 

Hers a good brief one

 

UK minister says that government will work with OBR on economic forecasts | Forexlive

WWW.FOREXLIVE.COM

---

Remarks by Britain's City minister, Andrew Griffith

 

Edited September 30, 2022 by tobyjugg2

[tobyjugg2]

1 hour ago, honeybee13 said:

'Yet there is no guarantee that the government will succeed in resolving the governance crisis.

 

Not when they are sending their handful of remaining (sic) shills out saying the BoE caused the crisis and its settling now,

rather than the reality (as stated all over the market sites) that the BoE pumping £65B in to calm the markets is what is actually preventing a total collapse that would make the last financial collapse and the ERM debacle seem a minor annoyance.

 

Lie and obfuscate through it - the now clearly standard populist policy

 

so for starters add a further $65 billion to the cost of that fiscal event,

- although in reality - that BoE intervention has probably already paid for itself in UK financial crash prevention - unlike most if not all of the rest (the possible exception support for energy bills of the not 1% although even that should have been funded by a windfall tax on energy co profits)

Edited September 30, 2022 by tobyjugg2

[tobyjugg2]

Although the further future gilts etc seem to be showing signs of recovery - undoubtedly on the basis of Truss and her Quack gone, no doubt the diabolic duo will try to claim it

 

So, do we think that kwack will try to blame the problems on the matrkets not liking giving support to the little people,

rather than it being mostly everything but, plus the way the giving was entirely based on borrowing to give to the rich and effectively billing the little folk?

I think its very possible.

Edited September 30, 2022 by tobyjugg2

[tobyjugg2]

and they blamed the BoE who actually dragged their asses out of a furnace

they've even blamed a remainer conspiracy

 

Everything except the real causes - their own incompetence, rank policies and rampant idiotology

 

 

Latest

 

Treasury will not publish OBR forecast delivered to them on 7 October until 23 November

The Treasury said that Liz Truss, Kwasi Kwarteng and the OBR discussed the “economic and fiscal outlook” as well as the process for growth forecasts.

However, they said the forecast – which they will receive on 7 October – won’t be published until 23 November. The government also said it “values” the OBR’s scrutiny.

The official readout from the Treasury said:

• This morning the prime minister, Liz Truss, and chancellor, Kwasi Kwarteng, met with the OBR’s budget responsibility committee, including the chair, Richard Hughes, at No 10 Downing Street.

• They discussed the process for the upcoming economic and fiscal forecast, which will be published on 23 November, and the economic and fiscal outlook.

• They agreed, as is usual, to work closely together throughout the forecast process and beyond.

• The prime minister and chancellor reaffirmed their commitment to the independent OBR and made clear that they value its scrutiny.

 

 

 

I foresee a leak appearing in their plans ...

 

It is of course just a pitiful transparent attempt to kick the severe problems being further confirmed into the longest grass they can .. which aint far - and likely wont reach even that far.

Edited September 30, 2022 by tobyjugg2

[tobyjugg2]

 

 

Why is anyone astonished?

 

Astonishment as fracking companies may be placed in charge of testing public support

WWW.INDEPENDENT.CO.UK

---

Firms like Cuadrilla could be asked to show they have local consent for causing earthquakes - but residents sceptical they would be entirely...

 

[tobyjugg2]

So, Truss' fiscal event, of which about half of 50 billion  will be given to the Richest 5% in the country,

and about a hundred billion given to the profits of the energy companies,

and which has already cost the BoE about £65b just to prevent a crash in markets and pension funds ...

... will keep on taking with a trip back into deepest austerity for everyone else in the uk with 37-46B in cuts required every year ...

'Starving the Beast' as the yanks call it.

 

Almost £50bn of cuts needed to fund tax breaks for rich, experts warn

WWW.INDEPENDENT.CO.UK

---

Huge ‘unforced error’ set to push Britain back to George Osborne-era cuts, says think tank

 

[tobyjugg2]

and the Torys are unlikely to get rid any time soon and confirm what prats they are unless Johnson wheedles it somehow to get himself back (which actually seems most likely change),

 

and also seems unlikely we'll get a general election unless she really is a stupid and deluded as she seems.

as the Torys dont want to lose their seats - and with that their second and third main incomes

[tobyjugg2]

• OBR confirms Chancellor refused to publish its forecast – Daily Express
• Kwarteng’s ex-boss bet big on falling pound weeks after lunch with him – The Times
• Welfare payments to fall in real terms – Daily Telegraph
• Spectre of return to austerity raises alarm in Whitehall – FT

reported in conservativehome

 

Newslinks for Friday 30th September 2022 | Conservative Home

CONSERVATIVEHOME.COM

---

Labour surges to 33-point poll lead over Tories in wake of market turmoil | Defiant Truss set to curb benefits to fund budget | Prime Minister to hold...

 

[tobyjugg2]

 

 

[tobyjugg2]

53 minutes ago, unclebulgaria67 said:

I was listening to an LBC programme where they were discussing the recent mini budget and callers were convinced that Truss/Kwarteng were delivering on promises made to Bankers, hedge funds and others that were looking to make money quickly, against the UK's interests.

 

yep - just like they bet against the pound @ Breakshit

 

53 minutes ago, unclebulgaria67 said:

 

 

 

Truss/Kwarteng may have followed a deliberate policy strategy of trying to go for quicker growth which will have benefited Bankers and hedge funds, but they thought they were doing so to help the UK economy. 

And in the short term this is making it look like a terrible mistake

 

Even here, I have rarely heard such utter utter crap

They refuse OBR assessment and EVERY other financial bodies opinion,

and you seem to be trying to claim 'they made a honest mistake'

 

Total utter excuse-ist crap

 

In what way will

* ensuring foreign profits of energy companies

* Uncapping bankers and hedge fund managers bonuses who bet against the UK economy for profit to drive those bonuses

* enriching multi millionaires further

* shutting down UK services and care (starving the beast)

* Dumping hundreds of billions on the taxpayer credit card while driving up interest rates

* Forcing the BoE to spend £65 billion pounds to cover the fallout from just the first £45B of Truss/Kwasi's enrich the rich budget

 

an honest mistake?

 

FFS

 

 

53 minutes ago, unclebulgaria67 said:

 

My problem with current Government handling is that they did not take seriously enough the requirement to fully explain their policies and to ensure their budget was fully costed with independent scrutiny of the OBR.

 

Did not take seriously enough?

They deliberately and consciously made sure that it wasn't analysed and reported, even by calling it a 'fiscal event'  alongside refusing analysis from the OBR.

 

 

Who T Feck are you? A member of Truss' media team? or Just a general populist excuse-ist?

 

Even conservativehome aint that on board with Truss/Kwasi

Edited October 2, 2022 by tobyjugg2

[tobyjugg2]

Quotes of the day from Tories less on the populist side than @unclebulgaria67

Because Truss always intended to use these benefits for the rich to drive cuts to the poorer

 

the Truss government “has thrown away the Conservative party’s reputation for sound management of the public finances” in its first month in office, adding that “it will take years to undo all the damage”

Tory peer Gavin Barwell, former MP and chief of staff to Theresa May

 

'cutting public spending is not “credible”. “Reducing benefits during a cost of living crisis while cutting taxes of those with the highest incomes; reducing expenditure on the NHS during a winter that is likely to be particularly tough; substantially reducing real terms public sector pay at a time of full employment. None of these policies are sustainable.”

former Tory Treasury minister David Gauke

 

 

"The Resolution Foundation said the measures – including the energy support packages for households and businesses – would involve an extra £411bn of borrowing over five years.

The thinktank said the tax cuts were heavily skewed in favour of the better off, pointing out that someone earning £1m a year would gain £55,220 a year while someone on £20,000 would gain just £157."

Edited October 2, 2022 by tobyjugg2