Reply With QuoteGlad 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.
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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.
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!!!
James would probably wait for evidence of it before starting a threadOriginally Posted by Canton Kev
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.
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.
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
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.
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 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
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.
Clearly lots of people who know more about economics than me are not convinced by Truss and her zealot Cabinet. One of the main problems I have with the current situation is that we have a load of people who were telling us how necessary Austerity was for nearly a decade and how vital it was that we balance the books and now many of the same people are telling us that we really must do the exact opposite because it’s vital that we go for growth. Isn’t that an admission of defeat when it comes to Austerity? My view is that it cannot be anything else than that, so shouldn’t the Tories reputation for economic competence be seen for the sham it is?
Also how are all the Brexiteers in the Cabinet going to square the circle that sees Liz Truss talking about allowing more immigrants in to do the jobs it seems the UK population don’t want to do and the anti immigration views of so many of their voters and MPs?
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.
Remember all of the patronising comments about Mediterranean economies more than ten years ago?
Traders are referring to Truss as “Daggers” - as in Dagenham, 2 stops past Barking
Ha ha brilliant! Were on the road to Hell in a handcart.Traders are referring to Truss as “Daggers” - as in Dagenham, 2 stops past Barking
That’s very goodTraders are referring to Truss as “Daggers” - as in Dagenham, 2 stops past Barking
“The week in Tory”.
Please make it stop.
https://twitter.com/russincheshire/s...o8iUJepmuqYP7w
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