Politics

[RobinRobin 11281]

On 09/10/2022 at 02:19, Gemmill said:

 

 

The CHEEKY cunt! 

 

 

Given his recent budget, he probably said 30/60

[ewerk 30620]

 

[Rayvin 5223]

What does that mean in terms of everyday life? That the cost of debt right?

[Toonpack 9431]

6 minutes ago, Rayvin said:

What does that mean in terms of everyday life? That the cost of debt right?

 

We're fucked basically, the BOE intervention all but wiped out and the billions more that will have to be borrowed will cost even more. We are circling the plug hole.

[ewerk 30620]

Yup, pretty much what TP said.

 

Still, I'm sure Kwarteng's plan to balance the books he's due to unveil in three weeks time will sort this all out.

[Rayvin 5223]

Why isn't this headline news then? Is it because it's happened too slowly for the media to notice?

[ewerk 30620]

Well the biggest jump (since the last one) has only really been today. Plus people are largely bored of it and don't really understand/care about it.

[scoobos 298]

21 minutes ago, ewerk said:

 

I'm full of covid, so this may make no sense by the end and I wont edit for once!

Sometimes I wonder at how smart the smart people are..

This is a result of the BoE saying its going to end its emergency buying measures, it's not a surprise - it's perhaps a surprise its gone a bit earlier . 

 

Hopefully, most know me on here as a rabid socialist - so read this the right way please, I'm not supporting anything the twats in charge have been saying, blaming the BoE - the BoE has to control inflation, its all its there for (and lender of last resort of course)

The BoE had to act due to the mini budget, but its the BoE acting to purchase that drove the interest rate down  (this is the "cost of borrowing" for the government, to anyone who's not savvy). 

The BoE said they'd spend up to 65bn - I think they've spent around 5 to 7.5 bn (they said up to 3bn per day). There's lies going around on both sides, but the BoE have NOT spent 65bn on bonds - but what they will want to do is make these purchases investments and therefore it's in their interests that the price goes UP from the day they bought them, so they are assets and not debt.

Maybe they've seen the background of Kwasi's report - or maybe they have decided that if the government wants to play stupid buggers with debt and borrowing and ignoring the elephant in the room of extreme supply chain issues*- whilst simultaneously blaming the BoE for inflation  - then fuck em.. Lets look after our own institution and prioritise inflation and fuck the damage to pensions, investment funds etc - let them die on their own sword, rather than the BoE be brought back into Gvt control.

I mean, can you imagine what would have happened if the BoE was under gvt control during this past month - we'd have kissed goodbye to the state pension and any chance of controlling inflation , thats for sure.


(* yes its global, but the Brexit add on has fucked us royally).

Side note - but this is worth watching for any with an interest - I've crossed paths with him in real life and he's no socialist - hes "one of them" , but he speaks the truth and pretty much spells out that Britannia Unchained is utter utter bollocks. This was recorded years ago, 11:40 onwards debunks these twats completely. 

 

 

Edited October 10, 2022 by scoobos
I LOVE an edit me..

[ewerk 30620]

The markets are clearly spooked by Labour's polling figures over the weekend.

[scoobos 298]

Adding .... I'm not an economic expert, I've got an a level and a little degree .. But I think that's more than these twats.

Some of my above post might be misunderstood , but I "reckon" its right 😀

[Rayvin 5223]

It scans for me because it presents a viable reason as to why no one is openly panicking in the media.

[scoobos 298]

I hated writing about the "mini budget cost the BoE 65bn" piece, because it feels like saying it's only 6bn! 6bn could pay for libraries for eight to ten years , on current budget*.. 

But it's being said a lot by the media and its factually very incorrect and needs to be called out.

 

I desperately want to see an end to politicians openly saying something on camera and microphone, when its published fact otherwise. Trump did it and Boris did it and it frankly scares me that people swallow it all. Websites like fullfact etc dont even seem to help. I certainly don't want to hear about Labour or the Liberal Democrats doing it , but perhaps they both know what they are up against, a rigged system, monopolies everywhere and lobbying being "accepted as norm" - so they are deciding to get down and dirty just to get power off of them?

 

*UK library budgets fall by £25m in a year | Libraries | The Guardian

Edited October 10, 2022 by scoobos

[Rayvin 5223]

I'm with you, I think politicians should be truthful and state directly what they believe in and think, alongside presenting factual information clearly. In fact, I'd go so far as to make lying in office a criminal offence given the amount of lives it affects.

[Renton 21627]

25 minutes ago, scoobos said:

Websites like fullfact etc dont even seem to help.

 

Remember that fact check website that was in fact a fake fact check written by CHHQ?

https://www.theguardian.com/politics/2019/nov/19/tories-tweet-anti-labour-posts-under-factcheckuk-brand

 

And btw, I see the BBC have been somewhat obsessed in reporting what Sturgeon said about detesting tories. What's wrong with that? I detest the cunts. Yet barely a squeak was made by the organisation when Braverman was positively frothing about the prospect of plane loads of refugess being sent to Rwanda on christmas day. 

 

These cunts' constant lies have destroyed this country, this is one narrative I have been banging on about since the Brexit referendum. I think we may need to collapse completely before we can begin to rebuild. We'll be in good company with Russia. We both been gaslit to oblivion. 

[Gemmill 44900]

 

Peston picking up on the gilts stuff. 

 

The govt have had to completely u turn on their replacement for Scholar at the treasury today too. Had reportedly already appointed "a disrupter" last week, and were waiting to announce it. Have had to tell her she wasn't getting the job and appoint an alternative. 

 

Slowly but surely all their shit about throwing out treasury orthodoxy is being unpicked because, surprise, the markets don't like incompetents disrupting anything. 

 

 

[Rayvin 5223]

They've also forced Starmer to say that he doesn't detest them. Just has a difference of ideas.

 

All right thinking parts of the country detest them man, idk why we need to hide it.

[scoobos 298]

18 minutes ago, Renton said:

 

Remember that fact check website that was in fact a fake fact check written by CHHQ?

https://www.theguardian.com/politics/2019/nov/19/tories-tweet-anti-labour-posts-under-factcheckuk-brand

 

And btw, I see the BBC have been somewhat obsessed in reporting what Sturgeon said about detesting tories. What's wrong with that? I detest the cunts. Yet barely a squeak was made by the organisation when Braverman was positively frothing about the prospect of plane loads of refugess being sent to Rwanda on christmas day. 

 

These cunts' constant lies have destroyed this country, this is one narrative I have been banging on about since the Brexit referendum. I think we may need to collapse completely before we can begin to rebuild. We'll be in good company with Russia. We both been gaslit to oblivion. 

Yeah, that was criminal imo!

I know I'm in a minority here, but I do actually think the BBC is balanced - I'm pulling the "I've lived in many other countries card" that always makes me feel a twat , but when you see Sky in Australia , Cayman compass , CNN etc - you realise what real TV news bias looks like. Channel 4 is the closest we have , but its to my own alignment so I don't mind

I think in trying to be impartial the BBC airs views that support both sides, but at different times - so yes they may give something the limelight and not something else at the same point in time, but over time it balances out. I don't see them as being supportive of the tories, the headlines are mostly critical. But then during Covid I did think that Nick Triggle twat was telling us all it's just a mild flu, from day 1 until today and recently inferring that the NHS was beyond hope - Fixing the NHS - a near impossible job for new PM? - BBC News .

[Renton 21627]

Actually tbf to the BBC its almost impossible to keep up with all the bat shit coming from the tories direction. I think I have noticed a swing towards Labour in reporting since Truss was "elected". Certainly none of the media is showing her any respect. 

Edited October 10, 2022 by Renton

[scoobos 298]

12 minutes ago, Rayvin said:

They've also forced Starmer to say that he doesn't detest them. Just has a difference of ideas.

 

All right thinking parts of the country detest them man, idk why we need to hide it.

Because he is trying to win votes from Tories, he has to , to get power. He can't insult people to that degree and win their votes, he has to seem (in their own words) a "Credible choice" for people who've voted tory year after year during this shitshow decade.  Corbyn showed that, whatever you think of him, he listened to their attacks and tried to meet them (Fully costed spending plan VS "There was no money left, they bankrupted the country" - He leaked Trump / Boris trade deal that said NHS was up for grabs and made it publically available to the media - Media started putting him in chicken outfit photoshops).

I truly believe the rhetoric and party will change over the years if they get power.

But imo, on current polling its anyones game for the GE - except hopefully the Tories.

 

Personally I'd be happy with a coalition of anyone but Tory and a change to the ministerial code to make it properly legally binding and a change to the voting system to PR.

 

 My dream would be Lib Dem / Lab coalition with Lib Dem majority! Civil Servants seem to love the Lib Dems and would hopefully be empowered to do what they should be doing - running the country - Civil servants have been demonised so badly, because they are the people who actually do the running of the country and push back on the absurd policies and targets and slashing and burning critical departments.

Aaaaaaaaand relax

 

Edited October 10, 2022 by scoobos

[scoobos 298]

Just now, Renton said:

Actually tbf to the BBC its almost impossible to keep up with all the bat shit coming from the tories direction. I think I have noticed a swing towards Labour in reporting since Truss was "elected". Certianly none of the midia is showing her any respect. 

That would be the worlds hardest job at the moment! Malcolm Tucker would be 6 feet under by now.

[Rayvin 5223]

10 minutes ago, scoobos said:

Because he is trying to win votes from Tories, he has to , to get power. He can't insult people to that degree and win their votes, he has to seem (in their own words) a "Credible choice" for people who've voted tory year after year during this shitshow decade.  Corbyn showed that, whatever you think of him, he listened to their attacks and tried to meet them (Fully costed spending plan VS "There was no money left, they bankrupted the country" - He leaked Trump / Boris trade deal that said NHS was up for grabs and made it publically available to the media - Media started putting him in chicken outfit photoshops).

I truly believe the rhetoric and party will change over the years if they get power.

But imo, on current polling its anyones game for the GE - except hopefully the Tories.

 

Personally I'd be happy with a coalition of anyone but Tory and a change to the ministerial code to make it properly legally binding and a change to the voting system to PR.

 

 My dream would be Lib Dem / Lab coalition with Lib Dem majority! Civil Servants seem to love the Lib Dems and would hopefully be empowered to do what they should be doing - running the country - Civil servants have been demonised so badly, because they are the people who actually do the running of the country and push back on the absurd policies and targets and slashing and burning critical departments.

Aaaaaaaaand relax

 

 

I mean I know, it's the same reason they can't tell the truth about Brexit and so on. But as per my post a little while ago on truth, it never ceases to annoy me that no one can handle dealing with reality and we're forced into this pantomime.

 

I also suspect that if Starmer comes out and says he detests the Tories, he'll be accused of inciting violence against political opposition. So yes, I agree that he can't, but it annoys the fuck out of me was my point really  

[Alex 35095]

56 minutes ago, Renton said:

 

Remember that fact check website that was in fact a fake fact check written by CHHQ?

https://www.theguardian.com/politics/2019/nov/19/tories-tweet-anti-labour-posts-under-factcheckuk-brand

 

And btw, I see the BBC have been somewhat obsessed in reporting what Sturgeon said about detesting tories. What's wrong with that? I detest the cunts. Yet barely a squeak was made by the organisation when Braverman was positively frothing about the prospect of plane loads of refugess being sent to Rwanda on christmas day. 

 

These cunts' constant lies have destroyed this country, this is one narrative I have been banging on about since the Brexit referendum. I think we may need to collapse completely before we can begin to rebuild. We'll be in good company with Russia. We both been gaslit to oblivion. 

It’s not just that. They’ve stoked the culture war for ages purely for political gain. Not giving two fucks who gets (literally) hurt in the process. I’d struggle to trust anyone who doesn’t detest everything they stand for 

[Toonpack 9431]

 

[Gemmill 44900]

Sounds like a good time to put corporation tax up and windfall the fuck out of the energy companies. 

[ewerk 30620]

The IFS reckons the government will need to save £60bn a year in order to balance the books. The only way to do that is massive cuts at a time when we’re struggling with over a decade of massive cuts. I think this is based on an unrealistic target of 2.5% economic growth.

 

This is after Kwarteng’s completely unnecessary £41bn per year package of tax cuts and the energy plan that is going to cost between £50bn to £75bn a year funded by borrowing rather than windfall taxes. The tax cuts which of course are fuelling inflation and causing huge interest rate rises.

 

So make no mistake, the cuts that are about to come and financial misery for many are absolutely a political choice rather than a financial necessity.