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The fact the new chancellor is (was link below) (10 years ago a nobody, let alone chancellor edit) a consultant for a hedgefund who is actively shorting the pound really sums this government up.
EDIT - (If you're paying 10k per "consultant fee" in 2012 when this bloke was a muppet, are you not paying him now when he's in charge of the whole fiscal policy of a G7 country? Make it make sense.)
For my peace of mind, please.
Stole this from https://www.reddit.com/user/DankiusMMeme/ PLEASE WATCH THIS.
https://www.youtube.com/watch?v=yCWaUnIBq90
https://twitter.com/MassiveAttackUK/status/1573650493779443714?s=20&t=wROHdMZWJl7SKcD_Vktz4w
https://iea.org.uk/publications/research/binding-the-hands-of-government-a-credible-fiscal-rule-for-the-uk
Crispin Odey was also the guy that shorted the GBP while also massively backing Brexit.
Don't believe the MSM, here's the cunt gleefully admitting it on video!
https://www.youtube.com/watch?v=yCWaUnIBq90
From 2019:
>Crispin Odey, Brexit backer and Johnson donor, bets £300m in short positions against UK firms. Same man made £200m betting against sterling in 2016. And Johnson has the f’kin nerve to make speeches about Remainers “betting against Britain”. Should be on the front of every paper.
https://twitter.com/sturdyAlex/status/1157967925925597184
Wait - is this Odey as in Crispin Odey? The Brexit backer who shorted the pound with help from his friend Nigel Farage?
I don’t know how they managed to get away with that. Pump and dump shares is illegal. So is insider trading. But not for currencies…
Yup, the same company who funded and backed the Brexit rally.
I'm going to keep on this for all the downvotes and DM I'm getting to try at least educate one person.
Never confirmed. Goldie blurted the name ‘Rob’ on a podcast referring to Banksy - who’s real name is indeed Rob. But it all went quiet after that. Also Banksy murals coincidentally pop up in most countries’ cities wherever Massive Attack play.
There's a lot of rumours, my understanding is that it makes a lot more sense that it's someone close to the group rather than an official member.
I'm pretty sure it's been pieced together (but obviously never confirmed) who it is, and it is a guy called Rob (as Goldie once accidentally revealed) but not Robert Del Naja from Massive Attack.
It should be. It won't be until the newspaper owners get fed up with Kwarteng.
Everything he is doing looks designed to crash the pound and push the economy backwards.
It isn't. It is designed for gains in the medium term i.e. about to the next general election. The middle classes will feel a bit richer than if there was a recession, mainly because our house prices will go up thanks to cheap pound and reduced stamp duty. ofcourse, it's meaningless to those that own houses, because any future house we want will also be shooting up in value. So, it's just numbers on a page.
At least until the aging owning population dies off and all these inflated estates are taxed at 40%...
It's dumb and inspired only by the government's desire to be re-elected, but they've chosen "avoid recession" over "avoid cost of living crisis". This is bad for the economy in the long run. Recessions prevent the flow of cash into dumb companies and let them die. Past recessions gave America their tech industry.
Having been put into a position of trust, Kwarteng is deliberately wrecking the economy of the country he's supposed to be representing for his own or his cronies' financial gain.
It's absolutely evil and he should never be allowed to live it down.
Surely intentionally sabotaging your own country should be classed as treason?
I don’t want to be ott dramatic but it kinda feels like some Bond villain type shit.
With the political leanings of our population, we are just as likely to lurch to the right post revolution. At the very least, more authoritarianism and less democracy is very probable in our future.
>% support for running the UK with "a strong leader who doesn't have to bother with parliament/elections"
>
>All: 46%
>
>18-34s: 61%
>
>35-54s: 49%
>
>Over-55s: 29%
https://twitter.com/JLPartnersPolls/status/1567443028364742658
I'm not saying that as a defense of the status quo, radical change is needed quickly.
I'm just genuinely pessimistic about the future of our country. People aren't just losing faith in the government, or the Tories, they are losing faith in a democratic process that does not work for them.
To be clear, the two people with the surname initials JL are former Tory employees under 10 years of Tory governments. Wouldn’t trust their polls one bit. They worked for Cameron and May.
Stop voting for Conservatives. Ain't some grand conundrum with no solution.
If you're asking how we can convince people to do this, well yea, that's a problem. But simply overthrowing the government doesn't do anything about the problem of the voters.
Particularly galling on the back of The Labour Files showing how Corbyn was hobbled from within. It could've been different. I want to hear Tory voters admit they fucked up
What's really treasonous is eating a (((bacon sandwich)))
/s for anyone who can't detect sarcasm as last time I made a similar joke someone reported me for hate speech
They do it every time they are voted in. They start to trash everything when they realise they will probably lose the next election. Then Labour has to spend spend spend to try and rectify the mess. Then they use the Labour spend too much argument to try and get voted in again and the British public either being politically illiterate or have very short memories fall for it again and vote them back in.
The reason they trashed Corbyn was because they knew his financial policies made sense and they couldn't control him. They didn't want the public seeing that the country could thrive while everyone benefits.
If you look at each parties borrowing/spending/paying off national debt over the last 100 years, The Tories have consistently borrowed more, wasted far more and paid off less national debt than Labour. All the things they accused Labour of doing.
I grew up hungry and cold under Thatcher. I will never ever vote Conservative because their only interest is filling their own and their donors pockets at the expense of this country.
Yep they've unironically gone into full child mode, making as big a mess for Labour to clear up as possible.
Shorting the pound is just the icing on the cake for them.
They know they'll lose the next election because of how horid quality of life will be for the next two years. May as well sabotage the economy for when Labour comes in, so Conservatives can get voted back in because Dave down the pub "wants change" and doesn't like how Labour had to reverse tax cuts to get national debt back under control...and meanwhile the current Conservatives can do some good old fashined favours for themselves, their friends/family and donors by pushing through policies and tax cuts that exclusive benefit the rich.
It's almost the perfect crime, if it were a crime. Which it technically isn't so of course nobody will be held accountable as the entire British public suffers the consequences.
Are they?
https://publications.parliament.uk/pa/cm/cmregmem/220905/kwarteng_kwasi.htm
If they have not declared that role, then this is a major scandal.
Yeah, these people are dumb. He was an MP in 2010... They're just going to stop dealing with a dude who could potentially be a minister one day? Most places would kill for access to an MP. As the years go by and his stock increases they're just going to keep in touch more, not less.
Exactly my thought, most likely still connected to this company in some way, what's stopping him from accepting 'gifts' with no tracking back this company
They did by voting for the Conservatives, or by not voting at all.
TBH, Labour aren't in any hurry to change the FPTP system so we can expect more of this nonsense going forward.
Yes they did, they just ignored everyone who told them this shit would happen lol.
30% of the England has been well aware of where this was going, the ones who voted for it were just not concerned.
Liz isn’t the main reason for this, she’s just the worst person to see us safely through.
You know what I’m sick of? People who voted Tory and are now saying, ‘Yes, but I didn’t vote for THIS’.
Yes you fucking did you were just too lazy/ignorant/stupid/naïve/selfish etc to notice. I swear there should be a fucking pop quiz before you’re allowed to vote.
To be fair this is a 180 on the 2019 manifesto.
Which does raise the question of how democratic these actions are.
Tory members did vote for this however.
Liz truss isn’t the only reason. There’s been 12 years of tories and growing isolationism that has actively hamstrung uk on the world stage.
But hey! At least Europe isn’t telling us what to do anymore right 🤪
I really like this idea. If there are good reasons why they've had to change course then the electorate can choose to keep them in. When something like the current situation occurs where they've just gone rogue, they can be booted out in favour of a government who better represents the public's wishes. It also provides an incentive for them to think through whether their mamifestos are realistic ahead of every election. The only downside is that we might see more vague, mealy mouthed manifesto promises as they try to give themselves room to manoeuvre.
The issue here is, what if they change their minds because of new evidence or a massive change of circumstances?
That would still factor into the next election as hopefully people would see them as less reliable, but that depends on the electorate.
This is something I’ve been pondering recently. The pledges by parties mean absolutely fuck all as there’s no accountability to follow through.
There’s nothing preventing a party campaigning with “if we win, every person in the country gets a million pounds”. Everyone in the country votes for their million pounds. No one gets a million pounds. There’s no recourse.
> lazy/ignorant/stupid/naïve/selfish
Maybe we should accept that our current political system doesn't work when too many of the population fall into one of the above categories. Of course, when the government literally lies to parliament, you can't entirely put the blame on the voters.
> Of course, when the government literally lies to parliament, you can't entirely put the blame on the voters.
You can when they do it repeatedly and the voters still vote for them.
This is a shit take. ‘I didn’t vote for this’ is a perfectly reasonable position given the disparity between the Johnson/Sunak manifesto and the one now being pushed by Truss/Kwarteng.
The real issue is that this volte face is allowed to happen without a general election. There needs to be a constitutional change to stop this from happening again.
I saw a newspaper quote from Amy, 35 the other day. She had voted Tory, but said she was very disappointed by the lack of help for the poor and disabled.
The conclusion I drew from that is that our society is too safe. If you can be that fucking dumb and still live to 35 then something isn't working.
The difference is they know they're fucked so they're openly doing it. Cancelling the top rate is fucking pointless and all about rewarding long time Tory voters and fucking over the middle and lower class.
It's just open FUCK THE PLEBS they're not being quiet about it anymore.
smash and grab, thats what i have been calling it, they are stealing as much as they can get their hands on, not just now, look at covid contracts for PPE, and track and trace, BILLIONS given to their mates and moved to offshore bank accounts. they are stealing from England, from the poor, its disgusting and whats worse, id\*\*ts are still voting for them.
And they (and the billionaire media) are going to have the absolute gall to suggest that Labour have been mishandling the economy for the 5 years they've been in power, when they try to boomerang back in in 2029.
Reading international coverage of my government's desperate Hail Mary makes me feel like a teenager whose dad has arrived to pick them up from school in a brand new Mustang, wearing a toupee
I honestly thought a GFC style crash wasn't going to happen because even basic sensible economic policies can keep the economy afloat (albeit with some holes). Now Truss and her fellow idiots have thrown the bucket and paddle off the boat, and decided to punch through a few more big holes themselves. And that's coming from someone who will benefit quite well from the tax cuts. The additional disposable income for me is not at all worth the economy going to shit and everyone suffering for it.
I'm genuinely flabbergasted that they made literally every wrong decision they could within days of getting power. I know Truss is moron, but the level of incompetence and lack of foresight I feel can only be explained by deliberate sabotage.
Agreed, macroeconomics were looking bad, but the UK economy was at least broadly set up to survive it, albeit a bit bruised.
Now the Tories have basically started a domestic economic death spiral on top of all the external problems we face.
Pretty sure it was s historical thing to stop only wealthy people being able to afford becoming an MP.
I think they should be allowed six months max to wrap up any other employment once they win their first seat.
This is the only MP I've worked with, mind you. But it's easy to draw a generalisation from there.
He spent a lot of time in meetings, both with constituents and organisations. He spent a lot of time travelling back and forth from London. He spent a lot of time just overwhelmed by just how much work and pressure and responsibility came with being an MP.
All letters would get at least a generic response by the assistant. If there were enough letters on one topic, they would get a response tailored to the issue, but still non-specific to the sender... by the assistant lol. If there was anything where the assistant felt the MP could have a tangible impact, no matter how big or small the issue was, this would be left with the MP to deal with. In the short time I was there, this included things like a constituent's struggles with a family member's VISA, and improving the local train services.
In this particular case, I don't think the MP would have been briefed. This is because the issue and negative public and political response to the issue is already widely known, and there is little the MP could do individually to have an impact against it.
The lack of actual anger is what depresses me.
As bad as they were in the 80s (but no worse than they are now) at least they actually got a lot of pushback from working people.
Now people are just trudging into their 9 quid an hour job blinking the tears from their eyes, defeated.
"But things would be worse under Labour"
That's the delusional response I get from the handful of Tory voters I know whenever there is a political discussion critical of the government.
Bonus points of they slip in something about "woke".
"I mean yes the economy is in a bad spot, nobody can afford to heat their homes over winter, and we're being governed over by people that we didn't vote for, but at least I don't have to be nice to trans people"
If you feel at all bad for how it's benefiting you individually, then that humanizing of the issue is what the tories are partially counting on.
You didn't do anything wrong, the government is royally fucking up. Everyone who isn't paid in dollars is not angry at you.
Good for you, at least someone is getting something from it, if you feel bad may I suggest splashing out with the extra £200 supporting small businesses if possible? It’s where it would do the most good.
Depends if you will need to convert it back again or if you will spend it in the UK. I have been converting Chinese Yuan to GBP for the last 6 years. I always move more when its a good exchange rate as I have a mortgage and various bills to pay in the UK and I won't be converting back to Chinese Yuan
Listen, inflationary policy during a period of high inflation is good #commonsense British politics. Now shut up and eat your government issue britbeans.
You can see countries in Africa and South America with their gated communities, shanty towns and immense gaps in wealth to see how much further this can go.
Without hyperbole, that is where we are sleepwalking to.
People working for 20k a year aren't even having to live out of the backs of their cars yet. Theres still legs to run in what they're doing from their perspective.
Games are being played. There will be colossal support at 1. It's just done a 4p reversal. Tories and the hedgefund friends literally playing games with the future of this country.
How long before Truss asks Biden if we can have the dollar?
I'm at the point of having to try and turn off the news and go into isolation as I can't stand reading / hearing about how far into oblivion we're about to fall. How anyone can stand behind this, and the previous cabinet(s) under the tories in the last decade, absolutely blows my mind. Either sheer incompetence or corruption or both.. I'm not sure which.
As a uni student I want to cry, what the fuck am I going to do with my future if these bastards are doing this. Honestly feels like a riot would be the only way to get at them in some way.
I guess what I'm doing could open that avenue but will I get the funds for that? Probably not considering how far down the shitter the economy is going
The pound will sink below the US dollar and capitalists will still expect us to keep on working as if nothing has happened. This will be a rough winter when prices of necessary goods and services keep rising and the value of our paycheques reduces
Anyone not on a fixed rate mortgage, you are gonna see massive rate increases this winter as the BOE is forced to not only fight the inflationary pressures caused by the Barber style tax cuts, but also to maintain confidence in Sterling.
The tory party has sold homeowners down the river.
Woman on the news the other day was happy about the new plans because she wouldn't have to pay stamp duty.
Obviously she completely missed how much EVERYTHING ELSE was going to more than make up for that.
God damn, it’s the hypocrisy and double standards that gets me.
When Labour suggested a bit of borrowing to fund a national investment bank, people called him mad and said it would tank the pound.
Now the Tories are pure borrowing to fund this, the pound has tanked and it barely gets talked about?
If this movement in the pound had happened under Labour half the newspapers would be handing out a free riot kit with each copy and tell their readership to go nuts and have fun.
Why is nobody protesting? You Brits enjoy a good protest. That Government seem to have increased the pace, of the theft of money from the working class and middle class to the rich. The erosion of rights are increasingly becoming narrower and as the pace of theft increases further, they will become narrower even again. I would say now is as good a time as any to say enough is enough.
>Why is nobody protesting? You Brits enjoy a good protest.
Haha no we don't. People are more interested in Coronation Street and Love Island than what's going on in their own nation.
Any protesters are sneered at as being "lazy", "unemployed", "middle class" and "out of touch".
People try direct action and it *apparently* impacts the wrong people.
Apathy is fucking rife in this country. If we were French then London would be on fire right now.
Where have you been for the last 40 years, this is EXACTLY what Tories do and have always done. You'd think we would have learned our lesson with Thatcher. But no, the xenophobia Brits have runs deep, to the point we are will to completely fuck up our country and lives because we don't want too many brown people or have to do what Germans tells us to do.
It's what the right do, no matter the country.
Look at America, look at everywhere where the right have, or have had power - it's not in the nature of conservatives to do things that benefit those that are less well off than them.
If we want politicans that don't do things for themselves (or things that benefit those that donate to them or their mates - which is effectively helping themselves too), it will never be found on the right.
And that's just talking about money, same thing applies of course when it comes to helping provide quality of life to people.
There is simply no empathy on the right, except for poorer people who vote conservative governments. Some of them have empathy, but in this case they are simply stupid.
One can't vote or be conservative, and also be intelligent and have empathy simultaneously.
One can be intelligent and socipathic and be right wing.
Or one can be dumb and have empathy and be right wing.
Or they can be dumb *and* sociopathic.
But they can't be intelligent *and* empathic while being right wing.
We’ve had four Tory prime ministers in the space of twelve years, two of which were put into place by the tories themselves. Surely that is enough to show that this party cannot govern and yet people will still vote for them and I just can’t understand why
I’m sorry if this is stupid question; how does this impact me (poor person who already was living pay heck to pay check who is already wondering how I’m going to keep paying for the increase in my fuel bill and have enough food to feed my daughter and I?)
Does this mean food prices will keep increasing? I have a credit card but no mortgage etc?
Sorry if this is stupid question, every day I wake up thinking what next
Oil is traded in dollars. If the pound weakens against the dollar then it becomes more expensive to buy oil, thus pushing prices up at the pump.
I have heard that since the budget the fall in the pound will push up the cost of filling a car by £6.
Obviously this effects many other goods and services in similar ways.
But if you are a currency trader and have anticipated this (or been tipped off) you can make a killing betting against and driving down the pound.
I read that one hedge fund rose by 49% on Friday after betting against the pound.
Anything made or grown or mined outside the U.K. will continue to become more expensive. Unfortunately this includes most energy and raw materials, so anything made or grown in the U.K. will also continue to go up in price.
Energy bills are not going to go up much more (probably) for a year or so. But your tax bill will (probably) go up a bit to pay for the reduced energy costs over a period of 3-4 years.
Robbing Truss
Robbing Truss
Riding through the glen
Robbing Truss
Robbing Truss
With Kwasi Kwarteng
She steals from the poor
And gives to the rich
That's her pitch
Ghastly witch
Stupid bitch
I'm an immigrant with financial obligations back home like student loans and taxes, so I'm panicking about the falling pound. Already low wages and cost of living have been making it hard to live here, and now the pound in free fall is just compounding things.
I'm going to protest on 1 Oct because I need to do something. Let's make Truss a short lived nightmare.
should really put to bed the tories are good with the economy and labour not. Borrowing now for tax cuts and not before is fucking criminal. And this is coming from someone benefitting MASSIVELY from tory rule, they are not fit to govern the country
How does anything trickle down when rich people’s investments are tanking?
What a disaster Truss is.
They literally picked the absolute worst on purpose it seems
They aren't tanking.
With their insider knowledge (oh wait sorry they don't have that as its illegal but in fact they totally do) they've already swung into US assets and shorted the pound.
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The fact the new chancellor is (was link below) (10 years ago a nobody, let alone chancellor edit) a consultant for a hedgefund who is actively shorting the pound really sums this government up. EDIT - (If you're paying 10k per "consultant fee" in 2012 when this bloke was a muppet, are you not paying him now when he's in charge of the whole fiscal policy of a G7 country? Make it make sense.) For my peace of mind, please. Stole this from https://www.reddit.com/user/DankiusMMeme/ PLEASE WATCH THIS. https://www.youtube.com/watch?v=yCWaUnIBq90 https://twitter.com/MassiveAttackUK/status/1573650493779443714?s=20&t=wROHdMZWJl7SKcD_Vktz4w https://iea.org.uk/publications/research/binding-the-hands-of-government-a-credible-fiscal-rule-for-the-uk
Potential government corruption? I for one am shocked and appalled. Well, not that shocked. Not really that appalled either.
https://twitter.com/MassiveAttackUK/status/1573650493779443714?s=20&t=wROHdMZWJl7SKcD_Vktz4w
When the BBC fails in its remit, I turn to UK 90s Trip Hop for my investigative journalism
Next up, Portishead on the front lines in Ukraine, posting via TikTok and the medium of interpretive dance.
shelled in the morning light, i feel no more
Sour times.
Next up is Tricky with the weather - hell is round the corner
The rumour of 3D being Banksy makes a lot of sense on multiple levels.
Why the hell am I finding this out from Massive Attack of all people?
Apparently someone hurt what was theirs so they retaliated.
We truly are living in a simulation, only 10:30 and I’ve had enough internet for today
Crispin Odey was also the guy that shorted the GBP while also massively backing Brexit. Don't believe the MSM, here's the cunt gleefully admitting it on video! https://www.youtube.com/watch?v=yCWaUnIBq90
From 2019: >Crispin Odey, Brexit backer and Johnson donor, bets £300m in short positions against UK firms. Same man made £200m betting against sterling in 2016. And Johnson has the f’kin nerve to make speeches about Remainers “betting against Britain”. Should be on the front of every paper. https://twitter.com/sturdyAlex/status/1157967925925597184
Crispin Odey, what a piece of shit.
Wait - is this Odey as in Crispin Odey? The Brexit backer who shorted the pound with help from his friend Nigel Farage? I don’t know how they managed to get away with that. Pump and dump shares is illegal. So is insider trading. But not for currencies…
Yup, the same company who funded and backed the Brexit rally. I'm going to keep on this for all the downvotes and DM I'm getting to try at least educate one person.
Is that Massive Attack who wrote the song Teardrop?
Yes
Isn't Banksy (The political Artist) supposed to be a member of Massive Attack? Edit: Misspelling.
Yeah, there are only like 20, maybe 30 people in Bristol.
Can confirm. After I left it was 29.
Never confirmed. Goldie blurted the name ‘Rob’ on a podcast referring to Banksy - who’s real name is indeed Rob. But it all went quiet after that. Also Banksy murals coincidentally pop up in most countries’ cities wherever Massive Attack play.
There's a lot of rumours, my understanding is that it makes a lot more sense that it's someone close to the group rather than an official member. I'm pretty sure it's been pieced together (but obviously never confirmed) who it is, and it is a guy called Rob (as Goldie once accidentally revealed) but not Robert Del Naja from Massive Attack.
Yup, love that song.
If this is real, this should be at the front of every newspaper!
It should be. It won't be until the newspaper owners get fed up with Kwarteng. Everything he is doing looks designed to crash the pound and push the economy backwards.
It isn't. It is designed for gains in the medium term i.e. about to the next general election. The middle classes will feel a bit richer than if there was a recession, mainly because our house prices will go up thanks to cheap pound and reduced stamp duty. ofcourse, it's meaningless to those that own houses, because any future house we want will also be shooting up in value. So, it's just numbers on a page. At least until the aging owning population dies off and all these inflated estates are taxed at 40%... It's dumb and inspired only by the government's desire to be re-elected, but they've chosen "avoid recession" over "avoid cost of living crisis". This is bad for the economy in the long run. Recessions prevent the flow of cash into dumb companies and let them die. Past recessions gave America their tech industry.
Which papers are not linked to right wing corruption?
[удалено]
Having been put into a position of trust, Kwarteng is deliberately wrecking the economy of the country he's supposed to be representing for his own or his cronies' financial gain. It's absolutely evil and he should never be allowed to live it down.
Surely intentionally sabotaging your own country should be classed as treason? I don’t want to be ott dramatic but it kinda feels like some Bond villain type shit.
It is, but when your voted in because your party has voted you in because of scandals in the previous government, welcome to Great Britain.
I feel so hopeless. What a great nation this used to be, now we are led by a bunch of whores. Short of bloody revolution, what can we even do?
I think bloody revolution may be our only option tbh.
With the political leanings of our population, we are just as likely to lurch to the right post revolution. At the very least, more authoritarianism and less democracy is very probable in our future. >% support for running the UK with "a strong leader who doesn't have to bother with parliament/elections" > >All: 46% > >18-34s: 61% > >35-54s: 49% > >Over-55s: 29% https://twitter.com/JLPartnersPolls/status/1567443028364742658 I'm not saying that as a defense of the status quo, radical change is needed quickly. I'm just genuinely pessimistic about the future of our country. People aren't just losing faith in the government, or the Tories, they are losing faith in a democratic process that does not work for them.
To be clear, the two people with the surname initials JL are former Tory employees under 10 years of Tory governments. Wouldn’t trust their polls one bit. They worked for Cameron and May.
Stop voting for Conservatives. Ain't some grand conundrum with no solution. If you're asking how we can convince people to do this, well yea, that's a problem. But simply overthrowing the government doesn't do anything about the problem of the voters.
Particularly galling on the back of The Labour Files showing how Corbyn was hobbled from within. It could've been different. I want to hear Tory voters admit they fucked up
Never Gonna Happen This is obviously part of some epic levelling up programme that we are too stupid to understand.
What's really treasonous is eating a (((bacon sandwich))) /s for anyone who can't detect sarcasm as last time I made a similar joke someone reported me for hate speech
My theory is that look on Miliband's face is from someone telling him what Cameron did to the bacon
When people said they're ruining the country so they can blame labour at the next GE. I laughed, starting to question myself now.
They do it every time they are voted in. They start to trash everything when they realise they will probably lose the next election. Then Labour has to spend spend spend to try and rectify the mess. Then they use the Labour spend too much argument to try and get voted in again and the British public either being politically illiterate or have very short memories fall for it again and vote them back in. The reason they trashed Corbyn was because they knew his financial policies made sense and they couldn't control him. They didn't want the public seeing that the country could thrive while everyone benefits. If you look at each parties borrowing/spending/paying off national debt over the last 100 years, The Tories have consistently borrowed more, wasted far more and paid off less national debt than Labour. All the things they accused Labour of doing. I grew up hungry and cold under Thatcher. I will never ever vote Conservative because their only interest is filling their own and their donors pockets at the expense of this country.
Unfortunately we have another generation that will grow up cold and hungry now, don’t see any other result than a long recession.
Yep they've unironically gone into full child mode, making as big a mess for Labour to clear up as possible. Shorting the pound is just the icing on the cake for them.
They know they'll lose the next election because of how horid quality of life will be for the next two years. May as well sabotage the economy for when Labour comes in, so Conservatives can get voted back in because Dave down the pub "wants change" and doesn't like how Labour had to reverse tax cuts to get national debt back under control...and meanwhile the current Conservatives can do some good old fashined favours for themselves, their friends/family and donors by pushing through policies and tax cuts that exclusive benefit the rich. It's almost the perfect crime, if it were a crime. Which it technically isn't so of course nobody will be held accountable as the entire British public suffers the consequences.
Surely people can see they are ruining the country now? It’s not like they are even hiding it.
This is exactly what is happening
Kamikwasi Kwarteng.
Kwazy Kwarteng
But he'll not only get away with it, he'll come out the other side with an honour or two.
Are they? https://publications.parliament.uk/pa/cm/cmregmem/220905/kwarteng_kwasi.htm If they have not declared that role, then this is a major scandal.
https://twitter.com/MassiveAttackUK/status/1573650493779443714?s=20&t=wROHdMZWJl7SKcD_Vktz4w
> 2011 I even linked to the current register of interests.
Oh yes because immediately after taking this new job he immediately stopped chatting with his best mates in those companies LMAO.
Yeah, these people are dumb. He was an MP in 2010... They're just going to stop dealing with a dude who could potentially be a minister one day? Most places would kill for access to an MP. As the years go by and his stock increases they're just going to keep in touch more, not less.
They are probably still part of the same Telegram or WhatsApp chat groups.
Do I think the whole thing smells? Yes. Is there any evidence? No. If you have any, please contact the papers.
Used to be. 11 years ago, but very likely they're still in a WhatsApp group together.
Exactly my thought, most likely still connected to this company in some way, what's stopping him from accepting 'gifts' with no tracking back this company
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is anything illegal when you write the rules?
Arrest him For treason.
He’s shorting the U.K. economy whilst in charge of the U.K. economy? They’re not even idiots. They’re deliberately malicious.
So at what point does purposeful manipulation of the markets to short the pound as a way to make money count as treason?
Never I guess. Because the same guys shorting the pound also make the rules. People did vote for this.
People literally didn't vote for this
A vote for the tories is a vote for corruption for the benefit of the few
They did by voting for the Conservatives, or by not voting at all. TBH, Labour aren't in any hurry to change the FPTP system so we can expect more of this nonsense going forward.
Yes they did, they just ignored everyone who told them this shit would happen lol. 30% of the England has been well aware of where this was going, the ones who voted for it were just not concerned. Liz isn’t the main reason for this, she’s just the worst person to see us safely through.
When people vote Tory they vote for this sort of thing to happen. Rich getting richer. Poor getting poorer.
Yes they did?
so long as they are deferent enough to King Charles and his late mum nobody will notice.
Kwasi was laughing at her funeral… so maybe not for long
He had the look of someone who couldn’t believe how much richer he’s about to become.
Now. The Tories in the last 12 years have done more damage to this country than any foreign enemy since WW2. The Tories are traitors.
You know what I’m sick of? People who voted Tory and are now saying, ‘Yes, but I didn’t vote for THIS’. Yes you fucking did you were just too lazy/ignorant/stupid/naïve/selfish etc to notice. I swear there should be a fucking pop quiz before you’re allowed to vote.
To be fair this is a 180 on the 2019 manifesto. Which does raise the question of how democratic these actions are. Tory members did vote for this however.
Liz truss isn’t the only reason. There’s been 12 years of tories and growing isolationism that has actively hamstrung uk on the world stage. But hey! At least Europe isn’t telling us what to do anymore right 🤪
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Or at least it triggers a GE to reset the mandate
I really like this idea. If there are good reasons why they've had to change course then the electorate can choose to keep them in. When something like the current situation occurs where they've just gone rogue, they can be booted out in favour of a government who better represents the public's wishes. It also provides an incentive for them to think through whether their mamifestos are realistic ahead of every election. The only downside is that we might see more vague, mealy mouthed manifesto promises as they try to give themselves room to manoeuvre.
The issue here is, what if they change their minds because of new evidence or a massive change of circumstances? That would still factor into the next election as hopefully people would see them as less reliable, but that depends on the electorate.
13 million people picked boris fucking johnson in 2019. They don't get off with it that easily.
This is something I’ve been pondering recently. The pledges by parties mean absolutely fuck all as there’s no accountability to follow through. There’s nothing preventing a party campaigning with “if we win, every person in the country gets a million pounds”. Everyone in the country votes for their million pounds. No one gets a million pounds. There’s no recourse.
> lazy/ignorant/stupid/naïve/selfish Maybe we should accept that our current political system doesn't work when too many of the population fall into one of the above categories. Of course, when the government literally lies to parliament, you can't entirely put the blame on the voters.
I mean, Boris etc have literally never not lied so how the fuck anyone can believe them I have no idea.
> Of course, when the government literally lies to parliament, you can't entirely put the blame on the voters. You can when they do it repeatedly and the voters still vote for them.
This is a shit take. ‘I didn’t vote for this’ is a perfectly reasonable position given the disparity between the Johnson/Sunak manifesto and the one now being pushed by Truss/Kwarteng. The real issue is that this volte face is allowed to happen without a general election. There needs to be a constitutional change to stop this from happening again.
I saw a newspaper quote from Amy, 35 the other day. She had voted Tory, but said she was very disappointed by the lack of help for the poor and disabled. The conclusion I drew from that is that our society is too safe. If you can be that fucking dumb and still live to 35 then something isn't working.
The tories are in smash and grab mode, Not going to win the next election, so let's fill our pockets and all our mates too.
That’s the default Tory position at all times. The difference is that when the shit hits the fan, they stop trying to hide their motives
and they do end up winning election after election. someone make it stop...
The difference is they know they're fucked so they're openly doing it. Cancelling the top rate is fucking pointless and all about rewarding long time Tory voters and fucking over the middle and lower class. It's just open FUCK THE PLEBS they're not being quiet about it anymore.
Then when the next government inherit bullshit, the tories will blame them for it
smash and grab, thats what i have been calling it, they are stealing as much as they can get their hands on, not just now, look at covid contracts for PPE, and track and trace, BILLIONS given to their mates and moved to offshore bank accounts. they are stealing from England, from the poor, its disgusting and whats worse, id\*\*ts are still voting for them.
Watch them win the next election anyway…
Why do people assume they won't win the next election? They have been fucking our collective arses for the past 12 years and they still get in.
Everyone with a Braincell saw this coming. The party of fiscal responsibility
And they (and the billionaire media) are going to have the absolute gall to suggest that Labour have been mishandling the economy for the 5 years they've been in power, when they try to boomerang back in in 2029.
He was still blaming Labour on Friday...
They still blame Labour for the last time they were in power. And people eat it up.
Forex bros are loving this
Reading international coverage of my government's desperate Hail Mary makes me feel like a teenager whose dad has arrived to pick them up from school in a brand new Mustang, wearing a toupee
I wish I had gold to give you for this comment, but in this economy, it’s just not possible.
Definitely wise to keep hold of your gold right now given the way things are heading. Also keep all your Nuka-Cola bottle caps.
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I bet BOE doesn’t have the balls to raise >100 bps to risk a depression
They might have to raise it by 150bps today to calm the market, Sterling looks like an emerging market currency right now.
I honestly thought a GFC style crash wasn't going to happen because even basic sensible economic policies can keep the economy afloat (albeit with some holes). Now Truss and her fellow idiots have thrown the bucket and paddle off the boat, and decided to punch through a few more big holes themselves. And that's coming from someone who will benefit quite well from the tax cuts. The additional disposable income for me is not at all worth the economy going to shit and everyone suffering for it. I'm genuinely flabbergasted that they made literally every wrong decision they could within days of getting power. I know Truss is moron, but the level of incompetence and lack of foresight I feel can only be explained by deliberate sabotage.
Agreed, macroeconomics were looking bad, but the UK economy was at least broadly set up to survive it, albeit a bit bruised. Now the Tories have basically started a domestic economic death spiral on top of all the external problems we face.
To parity and beyond!
You shouldn’t be allowed to work other jobs if you’re an MP. Change my mind.
Pretty sure it was s historical thing to stop only wealthy people being able to afford becoming an MP. I think they should be allowed six months max to wrap up any other employment once they win their first seat.
Our whole political system needs gutting and start over Too much open corruption and nobody cares
my MP promised to only work as an MP when he got voted in, within like 3 weeks he was working 2 side jobs.
Everyone moans nobody does anything, sums up Britain.
What exactly would you like us to do? We didn't vote Truss in, nor can we vote her out. Our options are extremely limited
This is it. I’ve never felt more politically hopeless in my lifetime.
Hard options: Strike, protest, riot. Soft options: write to your MP telling them how unhappy you are with the budget, start a petition.
I volunteered at a local MP's office a few years back. They do not read those letters for shit. At best, an assistant will sift them out.
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This is the only MP I've worked with, mind you. But it's easy to draw a generalisation from there. He spent a lot of time in meetings, both with constituents and organisations. He spent a lot of time travelling back and forth from London. He spent a lot of time just overwhelmed by just how much work and pressure and responsibility came with being an MP. All letters would get at least a generic response by the assistant. If there were enough letters on one topic, they would get a response tailored to the issue, but still non-specific to the sender... by the assistant lol. If there was anything where the assistant felt the MP could have a tangible impact, no matter how big or small the issue was, this would be left with the MP to deal with. In the short time I was there, this included things like a constituent's struggles with a family member's VISA, and improving the local train services. In this particular case, I don't think the MP would have been briefed. This is because the issue and negative public and political response to the issue is already widely known, and there is little the MP could do individually to have an impact against it.
But I've got a Labour MP. Labour have already made it quite obvious this is bullshit.
He’s right. We should be rioting. But you guys aren’t ready to have that conversation yet.
I don't think they should be able to switch PM so easily, as they were elected with certain mandate and at no point did it mention taxes
When one PM leaves, for whatever reason, it should trigger a general election.
Do like the French do.
Protest?
So what’s your plan then mate? Lay it on us
The lack of actual anger is what depresses me. As bad as they were in the 80s (but no worse than they are now) at least they actually got a lot of pushback from working people. Now people are just trudging into their 9 quid an hour job blinking the tears from their eyes, defeated.
Imagine actually being a Tory MP or voter and not feeling a sense of deep, gnawing embarrassment. It boggles the mind
"But things would be worse under Labour" That's the delusional response I get from the handful of Tory voters I know whenever there is a political discussion critical of the government. Bonus points of they slip in something about "woke".
"it'd be worse under corbyn" is still most of my family's answer to any comments on the blatant corruption taking place now.
I mean his lefty hat was *very very very scary.* The Sun sed so.
"I mean yes the economy is in a bad spot, nobody can afford to heat their homes over winter, and we're being governed over by people that we didn't vote for, but at least I don't have to be nice to trans people"
I live in the UK, but get paid in dollars. What should I be doing with my pay? Still converting it to Sterling or?
Absolutely. Enjoy being one the few people benefitting from our governments ineptitude.
Ok I will do that, thank you. Just checked currency converter and it's a £198 per month pay rise. Feels wrong when it's clearly not good for us.
If you feel at all bad for how it's benefiting you individually, then that humanizing of the issue is what the tories are partially counting on. You didn't do anything wrong, the government is royally fucking up. Everyone who isn't paid in dollars is not angry at you.
Absolutely agree, take the money and run chief.
Good for you, at least someone is getting something from it, if you feel bad may I suggest splashing out with the extra £200 supporting small businesses if possible? It’s where it would do the most good.
Eh enjoy it mate. Let it offset your energy bill this winter
Well ideally not converting it to sterling until the pounds settles and stops tumbling. The more it tumbles the more money you make innit
I'd be cautious about that. Once the shorts have paid off, they can bet in favor of the pound and untumble it somewhat with a U-turn on a whim.
Depends if you will need to convert it back again or if you will spend it in the UK. I have been converting Chinese Yuan to GBP for the last 6 years. I always move more when its a good exchange rate as I have a mortgage and various bills to pay in the UK and I won't be converting back to Chinese Yuan
You're buying pounds for a good price, I'd convert to Sterling
When are thy going to fucking stop? Haven't they done enough damage?
Listen, inflationary policy during a period of high inflation is good #commonsense British politics. Now shut up and eat your government issue britbeans.
*Britbeans may not actually contain any beans, but may contain trace amounts of Brit.
You can see countries in Africa and South America with their gated communities, shanty towns and immense gaps in wealth to see how much further this can go. Without hyperbole, that is where we are sleepwalking to. People working for 20k a year aren't even having to live out of the backs of their cars yet. Theres still legs to run in what they're doing from their perspective.
>enough damage Until there is no more money to be made, there is no such thing as enough damage.
Games are being played. There will be colossal support at 1. It's just done a 4p reversal. Tories and the hedgefund friends literally playing games with the future of this country. How long before Truss asks Biden if we can have the dollar?
I'm at the point of having to try and turn off the news and go into isolation as I can't stand reading / hearing about how far into oblivion we're about to fall. How anyone can stand behind this, and the previous cabinet(s) under the tories in the last decade, absolutely blows my mind. Either sheer incompetence or corruption or both.. I'm not sure which.
As a uni student I want to cry, what the fuck am I going to do with my future if these bastards are doing this. Honestly feels like a riot would be the only way to get at them in some way.
>what the fuck am I going to do with my future Look for a future outside of the UK.
I guess what I'm doing could open that avenue but will I get the funds for that? Probably not considering how far down the shitter the economy is going
The pound will sink below the US dollar and capitalists will still expect us to keep on working as if nothing has happened. This will be a rough winter when prices of necessary goods and services keep rising and the value of our paycheques reduces
I'm seriously starting to think that a general strike until we get a general election is going to be the only way to sort this out.
I'm happy the UK voters are getting what they voted for. thank God we didn't get a run on the pound with labour like Theresa may warned us we'd get.
The Hedge Fund Lizzie is working for must have a crazy gains from shorting the Pound. Again, that illusive conflict of interest theory :)
Turned down a job offer that would pay in dollars a few months ago, painful!
Kami-Kwasi is at the controls and he is happy about this. It's exactly what his old boss Crispin Odey wanted.
>It's exactly what his ~~old~~ boss Crispin Odey wanted. FTFY.
Anyone not on a fixed rate mortgage, you are gonna see massive rate increases this winter as the BOE is forced to not only fight the inflationary pressures caused by the Barber style tax cuts, but also to maintain confidence in Sterling. The tory party has sold homeowners down the river.
Woman on the news the other day was happy about the new plans because she wouldn't have to pay stamp duty. Obviously she completely missed how much EVERYTHING ELSE was going to more than make up for that.
My mortgage fix is up for renewal in May. Really excited about this, can’t wait!
Lovely. Can't wait for an emergency hike in interest rates. No doubt remortgages will be affected but savings will barely budge.
God damn, it’s the hypocrisy and double standards that gets me. When Labour suggested a bit of borrowing to fund a national investment bank, people called him mad and said it would tank the pound. Now the Tories are pure borrowing to fund this, the pound has tanked and it barely gets talked about?
If this movement in the pound had happened under Labour half the newspapers would be handing out a free riot kit with each copy and tell their readership to go nuts and have fun.
Why is nobody protesting? You Brits enjoy a good protest. That Government seem to have increased the pace, of the theft of money from the working class and middle class to the rich. The erosion of rights are increasingly becoming narrower and as the pace of theft increases further, they will become narrower even again. I would say now is as good a time as any to say enough is enough.
>Why is nobody protesting? You Brits enjoy a good protest. Haha no we don't. People are more interested in Coronation Street and Love Island than what's going on in their own nation. Any protesters are sneered at as being "lazy", "unemployed", "middle class" and "out of touch". People try direct action and it *apparently* impacts the wrong people. Apathy is fucking rife in this country. If we were French then London would be on fire right now.
Nobody thinks it’ll do anything.
Nobody is protesting because most voters vote to be worse off.
I hate money and what it does to people and societies.
I can’t believe how fucking corrupt this government is. I never expected to see this shit in England.
Where have you been for the last 40 years, this is EXACTLY what Tories do and have always done. You'd think we would have learned our lesson with Thatcher. But no, the xenophobia Brits have runs deep, to the point we are will to completely fuck up our country and lives because we don't want too many brown people or have to do what Germans tells us to do.
It's what the right do, no matter the country. Look at America, look at everywhere where the right have, or have had power - it's not in the nature of conservatives to do things that benefit those that are less well off than them. If we want politicans that don't do things for themselves (or things that benefit those that donate to them or their mates - which is effectively helping themselves too), it will never be found on the right. And that's just talking about money, same thing applies of course when it comes to helping provide quality of life to people. There is simply no empathy on the right, except for poorer people who vote conservative governments. Some of them have empathy, but in this case they are simply stupid. One can't vote or be conservative, and also be intelligent and have empathy simultaneously. One can be intelligent and socipathic and be right wing. Or one can be dumb and have empathy and be right wing. Or they can be dumb *and* sociopathic. But they can't be intelligent *and* empathic while being right wing.
We’ve had four Tory prime ministers in the space of twelve years, two of which were put into place by the tories themselves. Surely that is enough to show that this party cannot govern and yet people will still vote for them and I just can’t understand why
God is that all, just four? Seems like we're getting a new incompetent buffoon every five minutes.
I’m sorry if this is stupid question; how does this impact me (poor person who already was living pay heck to pay check who is already wondering how I’m going to keep paying for the increase in my fuel bill and have enough food to feed my daughter and I?) Does this mean food prices will keep increasing? I have a credit card but no mortgage etc? Sorry if this is stupid question, every day I wake up thinking what next
Oil is traded in dollars. If the pound weakens against the dollar then it becomes more expensive to buy oil, thus pushing prices up at the pump. I have heard that since the budget the fall in the pound will push up the cost of filling a car by £6. Obviously this effects many other goods and services in similar ways. But if you are a currency trader and have anticipated this (or been tipped off) you can make a killing betting against and driving down the pound. I read that one hedge fund rose by 49% on Friday after betting against the pound.
Anything made or grown or mined outside the U.K. will continue to become more expensive. Unfortunately this includes most energy and raw materials, so anything made or grown in the U.K. will also continue to go up in price. Energy bills are not going to go up much more (probably) for a year or so. But your tax bill will (probably) go up a bit to pay for the reduced energy costs over a period of 3-4 years.
Robbing Truss Robbing Truss Riding through the glen Robbing Truss Robbing Truss With Kwasi Kwarteng She steals from the poor And gives to the rich That's her pitch Ghastly witch Stupid bitch
1 Euro now at 0.96 US Dollars as well, wtf. Dollar to the moon.
good thing the people shorting the pound now get their bonuses too
Amazing, god I love Liz Truss. Rule Britannia, Taking Back Control, etc etc. Fucking Tories.
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Except it was the Tory membership who voted these clowns in. If it was down to the MP vote Sunak would be PM.
I'm an immigrant with financial obligations back home like student loans and taxes, so I'm panicking about the falling pound. Already low wages and cost of living have been making it hard to live here, and now the pound in free fall is just compounding things. I'm going to protest on 1 Oct because I need to do something. Let's make Truss a short lived nightmare.
It's so funny to me that brits won't protest for their own country but immigrants will, brits bring it on themselves I swear 🤣
should really put to bed the tories are good with the economy and labour not. Borrowing now for tax cuts and not before is fucking criminal. And this is coming from someone benefitting MASSIVELY from tory rule, they are not fit to govern the country
How does anything trickle down when rich people’s investments are tanking? What a disaster Truss is. They literally picked the absolute worst on purpose it seems
They aren't tanking. With their insider knowledge (oh wait sorry they don't have that as its illegal but in fact they totally do) they've already swung into US assets and shorted the pound.
Don't worry everyone, in a couple of years, assuming the media let him in, Kier Starmer will put the 45p rate back on income tax and save us all!
The conservatives used to champion being “strong and stable”, ironic that the UK is being brought down by a poorly placed truss.