Already coming in.
Never mind only 6 new Prime ministers until Christmas
| + Visit Cardiff FC for Latest News, Transfer Gossip, Fixtures and Match Results |
Already coming in.
Never mind only 6 new Prime ministers until Christmas
Glad we’ve got a strong and stable government. Could’ve been chaos with Ed “bacon sandwich” Miliband.
No doubt James can explain why this is good and everything is going swimmingly.
James would probably wait for evidence of it before starting a threadOriginally Posted by Canton Kev
In other news!
Two weeks ago Lizz Truss during her first PMQs made a statement that she would,
"absolutely ensure Doncaster Sheffield airport will be protected"
It's just announced its closure.
Get then out NOW FFS!!!
Wow that absolutely nails the current situation
Partly, but it doesn't tell the full story, which is that it applies for pretty much every European country.
Bonds
https://tradingeconomics.com/bonds
Currencies:
Year on year, the dollar gains against the Yen, the Swedish Krona, The Norwegian Krone, Danish Krone are all greater than the Pound.. Euro has fallen about a fifth, as has the pound. Basically every European currency is massively down against the dollar.....the exception? The Russian Ruble.
https://tradingeconomics.com/currencies
Stock Market:
The FTSE 100 is pretty much the most stable stock market in the world at the moment. Loads are down 10-20% year on year...FTSE is stable.
https://tradingeconomics.com/stocks
https://tradingeconomics.com/currencies
This doesn't mean this is good news for the UK, it isn't, but it's essentially the same issue everywhere; Serious energy crisis, Massive uncertainty, high inflation, devalued currencies.
Shouldn’t guys like this be supporting the Conservatives and not labelling them a Doomsday cult that is more extreme than the public?
https://www.huffingtonpost.co.uk/ent...b01804e08fd55a
Yes, although he is only one person, and often the way to get attention is to say something outrageous.
Nonetheless Bob, do you agree looking at the evidence I've provided that the UK's basic performances on Bonds, Currencies and the Stock Market (the three factors mentioned in the tweet Delmbox posted) that the UK is broadly in the same state as other countries?
ie, broadly speaking: Slightly worse on bonds and currency, significantly better on the stock market.
The FTSE 100 is pretty much the most stable stock market in the world at the moment. Loads are down 10-20% year on year...FTSE is stable.
It hardly moves in either direction, it's full of banks and energy companies, so was unlikely to move too much.
Footsie all share is down over 1 and 3 years although they have been a tough three with Brexit, covid and Ukraine and energy crisis.
You are correct about the pound, everything is struggling against the dollar, the Worlds most used trading currency has a factor in that.
Speculation in trendy tech stocks created a bubble in America, which then popped, FTSE never saw the same gains so didn't see the same drop.
And in Germany, France, Italy, Spain, Netherlands, Sweden, Belgium....all of whom are down 10-20% year on year....?
Like I said...I'm not saying any of this is good. I'm saying context is needed. To a greater or lesser extent these are Europe wide problems, and the big story is the incredible strength of the dollar, at 30-40 year highs against numerous currencies.
oh yes...but you got truss and a useless bunch of lying wankers to try to get you out of the quagmire.
Market turmoil forces Halifax, UK's largest mortgage lender, to temporarily withdraw all mortgage products that come with a fee.
"As a result of significant changes in the cost of funding, we're making some changes to our product range."
But in James’s make believe world, everything is rosy
I didn't say everything was rosy. In fact that is the literal opposite of what I said. I said we all need to look to other countries too. And we do..if we have any desire to understand what is going on anyway.Market turmoil forces Halifax, UK's largest mortgage lender, to temporarily withdraw all mortgage products that come with a fee.
"As a result of significant changes in the cost of funding, we're making some changes to our product range."
But in James’s make believe world, everything is rosy
Look at your own evidence. You're misrepresenting things. Bond yields over the last week/month for UK 10Y Gilts have increased by the same % as only one other country.
Care to name the country? Yes, folks, it's Russia.
Jimbo, what are Germany's, Spain's, France's, Holland's, Belgium's, Denmark's current 10Y bond yields? Yes, folks they are mostly at most one half of the UK's.
There's a reason for all this - the loose fiscal policy operated to benefit the wealthy.
Brexit was fruitcake, Trussonomics is the cherry on top.
Yes AZ, but I was responding to a most about Bonds, Currencies and Stockmarkets. There are of course numerous other factors to look at too.
Like I said, no one is saying that the UK is in a great place. But my point is nowhere is. All European currencies are well down against the dollar except the Ruble. All major European stockmarkets are well down year on year pretty much except the FTSE.
There is no single measurement of an economy or economic wellbeing, as you well know.
You're engaging in a classic piece of shithouse whataboutery as a defence for an immoral piece of Tory theft from the poor.
Remember all of the patronising comments about Mediterranean economies more than ten years ago?
The macro is all kind of irrelevant unless you look at it through the lens of how prepared middle/lower incomes are to see through hard times because ultimately that is what we are talking about, facing the effects of a crisis. Our middle/lower earners are in a pretty poor position after a decade of stagnant pay and from living in a country completely and utterly obsessed with house prices.
I agree with you more there. I am totally opposed with the obsession with houses prices and have been for a long time. They are machines for living in, not commodities IMO. We should view any house price rise above wages or general inflation with the same enthusiasm we would rises in wheat or petrol or any other commodity. It's not good.
Okay so do that, compare median wage, average house price, average rental price, cost of eating, cost of heating the average home. Things that will be the deciding factor as to whether an individual emerges from the next few years in tact. The macro factors you posted paint a very partial picture that it's the same problem everywhere, well unless a house costs 8x+ the average salary then it isn't.
I suspect that we have more people in the danger zone over the next year or two than a lot of the countries you mention.
I saw a show a few years back where a couple were looking around a flat that was part of a development where the price would contractually be linked to the local average wage (which is such a good idea it is no surprise that there was barely any adoption elsewhere). They couldn't get their head around the idea that they weren't getting a fantastically cheap deal and wouldn't be able to flip it for a massive profit. That is the assumption now in the UK and I don't actually think there is a way of fixing it.
Posting Permissions
Reply With Quote