I think theyâre fucked. Sadly, that means the country is fucked too.
Winter is coming. Going to be stark.
I see what you did there
From BBC
Reality Check
Posted at 10:1210:12
Who is to blame for mortgage rate rises?
Liz Truss is right to say that the world is facing rising interest rates - but the spikes in borrowing costs that followed the mini-budget are unique to the UK.
Laura Kuenssberg asked Liz Truss whether she felt âany responsibilityâ for the worries that people now have about their mortgages and loans.
The prime minister called it a âglobal problemâ, citing the war in Ukraine, the aftermath of Covid and rising global interest rates. She also emphasised that the âBank of England set interest rates, not the governmentâ.
Interest rates are rising around the world as central banks, like the Bank of England, raise them to fight the inflation that has been made worse by the war in Ukraine.
But as our Economics Editor Faisal Islam pointed out on Twitter, the cost of the UKâs borrowing spiked on the Friday of the governmentâs mini-budget and again early the following Monday. This lifted the cost of borrowing in the UK above that in Greece, and it hasnât come down since.
This rise was not set by the Bank of England - but by the bond markets - and it is feeding through into rising mortgage rates and hundreds of products being withdrawn from the mortgage market.
Social embed from twitter
I listen to podcasts from many perspectives.
I canât be arsed tracking the episode down, but a recent episode of Tge Spectator featured a section on how to be rich and not bored.
The matey theyâve brought in talks about the dice game, where you decide where youâre going to go next based on a roll of a die.
Flabbergastingly poor taste from The Spectator but a handy reminder of who the Tories serve.
I donât know many dice men.
I couldnât find it either but stumbled on this. Mildly amusing
Written by a plebâŠthey have no fuckinâ idea.
There was a dreadful novel by Luke Reinhardt called (I think) The Diceman. It was glowingly reviewed years ago in one of the glossies, the reviewer must have been the authorâs mate because the book was fucking terrible. I ploughed all the way through it, unfortunately. Avoid.
All going well at the Tory conference.
When the going gets tough play the âhumilityâ card
While Iâm here Iâll drop this one in too - a bit of party disunity going on - lol
The 45p rise has been kicked into touch
Gordon Brown really did fuck a generation of Tories with his 50p rise. New Labour were quite content with 40p for a decade and then a few weeks before his election defeat he sticks it up to 50p
A properly cynical political stunt - a tax rate that doesnât really raise much but is difficult for the Tories to reverse without picking up heat - as we have just witnessed
Looks like Kwasi slipped this in at the 11th hour and hadnât discussed it in cabinet - hence the gnashing of teeth in the party
The 50p tax rate was introduced in 2009, so hardly just a few weeks before the May 2010 election. George Osborne, on reducing that rate to the 45p that exists today (and which isnât going to be scrapped after all), conceded that the 50p rate raised ÂŁ1 billion per annum; bearing in mind that this is the difference between 50p and 45p it seems safe to assume that the 50p rate raised twice that amount. Not a vast amount in the scheme of things, admittedly, but it could have prevented some of the swingeing public spending cuts that Osborne unleashed.
And in terms of political heat, Osborne reduced the 50p rate to 45p without picking up too much of that.
I suspect it would have raised significantly more, but for various tax avoidance schemes only the more wealthy can afford (accountants to advise and administer)âŠ
Of course itâs all Gordon Brownâs fault, desperate stuff from Tory supporters who are in denial and refuse to accept they are being taken for fools. Itâs all about taking from the 95% and giving to the 5%, itâs in their DNA, itâs what they do.
Itâs pretty obvious what their game is here, itâs all about rewarding their party donors and cronies, they have utter contempt for the rest of us. Crispin Odey, a hedge funder/disaster capitalist who is the epitome of a wrong un, made millions last week shorting the pound, along with several other likewise parasites. Odey is Kwartengâs mentor, Kwartengâs loyalty is to him and his ilk first and foremost, the rest of us come a very poor second.
Short the pound, make a fuckton of money, go long on the pound, change the policy and hey presto, make a fuckton more. No doubt Crispin needed the weekend to shift the money before his close friend Kamikwasi made the announcement. This government is a criminal cartel, treating public money as if it were their own, and using it to reward their friends and supporters, handing it to the already super wealthy at the expense of us lesser mortals. Thankfully I suspect the penny is finally starting to drop, people have had enough and pitchforks are being sharpened.
If anyone had any reservations about the colossal stupidity of Mad Nad, then her calling for a General Election whilst 33pts behind in the polls must put them to bed
Sheâs off to the House of Lords by all accounts so she wonât give a toss, it wonât affect her. A job for life, legislating, making the rules and laws that the rest of us have to abide by. And never having to concern herself with anything as vulgar as democracy, itâs a win win for her. Sheâs still spitting feathers about Johnsonâs removal, she would probably love to see them wiped out for their treachery as she sees it. Unrequited love is powerful medicine! Although Iâve got my doubts about the unrequited bit I have to confess, this is Boris Johnson we are talking about after all, by all accounts he would fuck a barberâs floor!
Iâm going to take a wild guess and say this fella will be doing some can carrying.
Oh.
So no British Company will want to have a non UK internet presence?