Cable Forum
Page 27 of 110 « First 1723242526 27 282930313777 Last »
Show 100 post(s) from this thread on one page

Cable Forum (https://www.cableforum.uk/board/index.php)
-   Current Affairs (https://www.cableforum.uk/board/forumdisplay.php?f=20)
-   -   Liz Truss Resigns [Who'll be the next Prime Minister?] (https://www.cableforum.uk/board/showthread.php?t=33711301)

ianch99 27-09-2022 16:21
Re: New Prime Minister: Liz Truss
 
Paul Donovan, the chief economist of UBS Global Wealth Management:

Quote:
Advanced economy bond yields are not supposed to soar the way UK gilt yields rose,” he told clients. “This also reminds investors that modern politics produces parties that are more extreme than either the voter or the investor consensus. Investors seem inclined to regard the UK Conservative Party as a doomsday cult
Harsh but fair ...

Damien 27-09-2022 16:52
Re: New Prime Minister: Liz Truss
 
https://twitter.com/EdConwaySky/stat...84254361337869

Quote:
Money markets now pricing in a 1.5 per cent rise in interest rates at or before the next @Bankofengland meeting in Nov.
Expectations back up well above 6% next year.

Hugh 27-09-2022 17:26
Re: New Prime Minister: Liz Truss
 
https://news.sky.com/story/liz-truss...ellor-12706352

Quote:
Liz Truss had to be convinced to issue a government statement yesterday to calm the markets, Sky News understands.

Faced with market turmoil, spiking borrowing costs, and the drop in the value of the pound in the foreign exchange markets, the prime minister's initial instinct was to stand firm and say little or nothing, unwilling to look like she might be shifting position.

UK policy condemned as 'utterly irresponsible' - pound latest

However, after a meeting with Chancellor Kwasi Kwarteng yesterday, Ms Truss agreed the Treasury would issue a statement promising further details on 23 November on how the government would ensure borrowing would not spiral out of control.

In effect this gives the government eight weeks to come up with a plan to stabilise the markets - likely to involve spending cuts in Whitehall, public services, investment and probably welfare.
Thought the last paragraph in the article was interesting…

Quote:
Some in government are understood to see the market assault on the pound and government debt as a plot by the left, something which has surprised city traders.

Paul 27-09-2022 18:45
Re: New Prime Minister: Liz Truss
 
Quote:
Originally Posted by Mad Max (Post 36135091)
Just vote Labour and everything will be fine.:p:
Its sad that such a statement could almost be true.
You should know something is wrong when a previously unelectable opposition has policies that look almost reasonable, and your own look increasingly nutty and bad. Sadly, I doubt Truss can see this though.

IMO, I would not say "everything will be fine", but everything may look better.

Pierre 27-09-2022 22:05
Re: New Prime Minister: Liz Truss
 
Quote:
Originally Posted by Mad Max (Post 36135091)
Just vote Labour and everything will be fine.:p:
Labour find themselves in this seemingly unassailable position through nothing they have done. They can just sit back and not be Tories and win, without offering any real coherent proposition.

It’ll be either interesting or terrifying to see where we are in 2 years.

After the ERM collapse and super high interest rates the Major government managed to turn it all around, but it wasn’t enough to save them and Blair rode on that economic chariot for years before he and Brown pissed it all away.

Sephiroth 27-09-2022 22:15
Re: New Prime Minister: Liz Truss
 
Quote:
Originally Posted by Pierre (Post 36135160)
Labour find themselves in this seemingly unassailable position through nothing they have done. They can just sit back and not be Tories and win, without offering any real coherent proposition.

It’ll be either interesting or terrifying to see where we are in 2 years.

After the ERM collapse and super high interest rates the Major government managed to turn it all around, but it wasn’t enough to save them and Blair rode on that economic chariot for years before he and Brown pissed it all away.


It was the Neil Hamilton "brown envelope" that did the Tories in.

1andrew1 27-09-2022 22:22
Re: New Prime Minister: Liz Truss
 
Quote:
Originally Posted by Pierre (Post 36135160)
Labour find themselves in this seemingly unassailable position through nothing they have done. They can just sit back and not be Tories and win, without offering any real coherent proposition.

It’ll be either interesting or terrifying to see where we are in 2 years.

After the ERM collapse and super high interest rates the Major government managed to turn it all around, but it wasn’t enough to save them and Blair rode on that economic chariot for years before he and Brown pissed it all away.
I don't think they pissed it away as such - the Global Financial Crisis hit the economy hard and financial regulation was too light.

---------- Post added at 22:22 ---------- Previous post was at 22:16 ----------

Quote:
Originally Posted by Sephiroth (Post 36135164)


It was the Neil Hamilton "brown envelope" that did the Tories in.
Oh yes, the famous cash-for-questions debacle.

denphone 28-09-2022 06:05
Re: New Prime Minister: Liz Truss
 
Quote:
Originally Posted by Mad Max (Post 36135091)
Just vote Labour and everything will be fine.:p:

Whoever people vote for l think many would like a fairer society then the very unequal society that they think is very prevalent in this country currently.

jfman 28-09-2022 09:22
Re: New Prime Minister: Liz Truss
 
https://www.theguardian.com/business...086841b84c373e

(The 07.49 update)

Analysts warning house prices could drop 10-15% next year. They’ll get absolutely savaged at the election if that happens.

1andrew1 28-09-2022 09:33
Re: New Prime Minister: Liz Truss
 
This shocked me!
Quote:
UK's cost of borrowing on international markets jumps above rates paid by Greece and Italy

The former Bank of England deputy governor Charlie Bean said it was significant that bond markets now considered Greece and Italy to be safer bets after several days of panic selling.

According to The Guardian, the five-year bond rose to 4.3%, which compares with Italy’s 3.87% and the 4% rate of interest paid by Greece.

France maintained a rate of 2.3% while German five-year bonds traded with an interest rate, referred to as the yield, at 2.03%.

Sir Charlie, who is also a professor at the London School of Economics, said: "When you have a falling currency and rising sovereign bond yields, this is exactly what we see with a typical emerging market sovereign debt crisis.

"That's not to say we're becoming an emerging market, but the fact is we have gone from looking like the US or Germany in terms of bond rates to now being closer to Italy and Greece."
https://news.sky.com/story/pound-slu...s-imf-12615118

Hugh 28-09-2022 09:37
Re: New Prime Minister: Liz Truss
 
1 Attachment(s)
https://www.cableforum.uk/board/atta...9&d=1664354193

denphone 28-09-2022 09:51
Re: New Prime Minister: Liz Truss
 
Quote:
Originally Posted by jfman (Post 36135181)
https://www.theguardian.com/business...086841b84c373e

(The 07.49 update)

Analysts warning house prices could drop 10-15% next year. They’ll get absolutely savaged at the election if that happens.
It takes a long time for a political party to get a reputation for economic competence but once lost it will take a long time to regain that reputation.

tweetiepooh 28-09-2022 10:36
Re: New Prime Minister: Liz Truss
 
Many buyers want housing prices to fall. If the fall is evenly split across the market (big house prices fall as much as small houses) then it may allow people to move up freeing properties to move in. Even if you are an owner as long as not selling then a drop in house prices is less an issue unless over borrowing. It could also lower interest in buying up property for investment except it may not, if prices drop and people with capital then see investment opportunity it doesn't help at all.

Damien 28-09-2022 10:37
Re: New Prime Minister: Liz Truss
 
Quite a few Tory outriders are now taking the line the currency collapse is Labour's fault.

Lord Ashcroft today: https://twitter.com/LordAshcroft/sta...48712921157633

Quote:
A currency trader has just told me that a driver to sell sterling was not just the mini-budget but a concern that Labour could form the next Government…
Daniel Hannan: Daniel Hannan: No, the pound isn’t crashing over a trifling batch of tax cuts. It’s because the markets are terrified of Starmer.

Jaymoss 28-09-2022 10:53
Re: New Prime Minister: Liz Truss
 
yeah of course people are gonna buy that BS hahaha


All times are GMT +1. The time now is 04:29.
Page 27 of 110 « First 1723242526 27 282930313777 Last »
Show 100 post(s) from this thread on one page

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
All Posts and Content are © Cable Forum