Pound slumps to all-time low against dollar

[pegman]

The Tory party members who voted for this clown show ought to apologize to the British people. 

[Bluespunk]

That press conference brings to mind the words of the late, great Ian Curtis.

 

“Confusion in her eyes that says it all
She's lost control
And she's clinging to the nearest passerby
She's lost control
And she gave away the secrets of her past
And said, "I've lost control again"
And to the voice that told her when and where to act
She said, "I've lost control again"

She's lost control again
She's lost control ..”

 

Joy Division: She’s lost control 

[RayC]

2 hours ago, Mac Mickmanus said:

That was me who posted that people should be careful for what they wish for .

   Boris was quite politically central and stable  and Truss is further to the Right and not as stable as Boris

Again, apologies for not recalling that you wrote the original post 

 

Imo Johnson is an opportunist chancer who would stop at nothing to further his own cause. However, he does possess the (most?) important political attribute:  charisma, so he was forgiven most of his sins by the UK electorate. 

 

Truss has zero charisma and doesn't appear to be very capable.

[placeholder]

56 minutes ago, Mac Mickmanus said:

Yes, Scotland had that choice and vote and voted to remain as part of the UK 

Scotland voted to stay in a UK that was a member of the EU. I don't think Scots signed on for this. They certainly didn't support Brexit at the polls..

[Mac Mickmanus]

1 minute ago, placeholder said:

Scotland voted to stay in a UK that was a member of the EU. I don't think Scots signed on for this. They certainly didn't support Brexit at the polls..

The U.K as a whole voted on the  Brexit issue and the result of Brexit was for the whole of the U.K 

[placeholder]

2 minutes ago, Mac Mickmanus said:

The U.K as a whole voted on the  Brexit issue and the result of Brexit was for the whole of the U.K 

But the UK that Scotland voted to remain in was a member of the EU. If UK membership in the EU had been a major issue at the time that would have been a different. But it wasn't.  A huge change like Brexit entitles the Scots to another vote.

[Mac Mickmanus]

2 minutes ago, placeholder said:

But the UK that Scotland voted to remain in was a member of the EU. If UK membership in the EU had been a major issue at the time that would have been a different. But it wasn't.  A huge change like Brexit entitles the Scots to another vote.

Just like the Brexit vote, there would be just the one referendum and that would be final .

   No second referendums .

Everyone was aware of that when they participated in the voting  .

   Once and once only 

[SatEng]

22 minutes ago, Mac Mickmanus said:

Just like the Brexit vote, there would be just the one referendum and that would be final .

   No second referendums .

Everyone was aware of that when they participated in the voting  .

   Once and once only 

On your own logic then there should not have been a brexit vote in 2018 as there was an earlier referendum which voted to join ("no second referendums")

Or are you saying that the referendum to join was too long ago and times have changed - the EU has changed - then we are not talking about "if" the Scots should have another vote but "when".

My own view is that there should be at least a 10-year gap between the same referendum question being put again to the voters - but that the principle of self-determination should apply 

[Mac Mickmanus]

11 minutes ago, SatEng said:

On your own logic then there should not have been a brexit vote in 2018 as there was an earlier referendum which voted to join ("no second referendums")

Or are you saying that the referendum to join was too long ago and times have changed - the EU has changed - then we are not talking about "if" the Scots should have another vote but "when".

My own view is that there should be at least a 10-year gap between the same referendum question being put again to the voters - but that the principle of self-determination should apply 

Going way off-topic 

[pegman]

The vultures are circling. This will not turn out well. Time to sell, sell, sell before the floor drops out.

 

 

 

[thaibeachlovers]

8 hours ago, RayC said:

Jokes aside. This is embarrassing. This is political ineptness never previously seen in the UK.

 

Shortly before Johnson was ousted, someone - apologies; I can't remember who - posted that those of us who wanted him out should be careful what we wished for. I dismissed this comment as nonsense from a disgruntled Johnson apologist; any new leader could not possibly be as bad. Unfortunately, in hindsight, it seems that I may have been wrong.

It may not have been me, but it's certainly what I thought.

I said before he became PM that at least he was amusing and we would be entertained. The "amusing" didn't last long as PM, but the entire time he was PM was "interesting" at least. I liked the Boris from before he became PM, but even though the office changed him ( and not for the better ), I thought it a mistake to change leadership when all about is chaos.

[thaibeachlovers]

6 hours ago, RayC said:

She had no choice but to back down. Imo if Truss had done when you suggest then there would have been a run on the pound. The markets would not have forgiven.

 

Whatever the merits of her economic argument this was - and apparently continues to be - politically ineptitude of the highest order. At the very least, the government could have released the partial analysis of the measures which the OBR had compiled to support their argument (unless, of course it didn't?).

 

As for the Labour party being unelectable. Not according to the opinion polls they're not. The polls may get things wrong at times but not by the magnitude of 25+%.

Doesn't mean they are right by wanting to elect Labour. The debacle of the "New Labour" government should never be forgotten ( I had to live through it ), and when it's a question of which party is the worst option, IMO that still belongs to Labour ( is it just Labour now, or still New Labour? ).

[Chomper Higgot]

8 hours ago, JonnyF said:

Truss should never have backed down to the pressure from the champagne communists. A slippery slope. A political mistake. She should have doubled down on those policies, not reversed.

 

Her only saving grace is that Labour are still unelectable. WMD Tony is probably considering a comeback as we speak.

It was her own MP’s that forced her to sack the Chancellor and will force a Budget U-turn, they are in danger of loosing their seats at the election, very many to Labour.

[BritManToo]

Pound was at a 3 month high yesterday, I changed at 43, but it made 43.3 during the day.

[BritManToo]

1 hour ago, thaibeachlovers said:

It may not have been me, but it's certainly what I thought.

I said before he became PM that at least he was amusing and we would be entertained. The "amusing" didn't last long as PM, but the entire time he was PM was "interesting" at least. I liked the Boris from before he became PM, but even though the office changed him ( and not for the better ), I thought it a mistake to change leadership when all about is chaos.

The only people being offered for election are those not competent to do the job.

This appears to be a worldwide phenomena an not just a UK problem.

 

All Liz had to do was nothing much for 6 months, repeat after me, "I'm new to this job and need to ease my way in before making any changes". But despite all the panic the pound is up t 43+ for the first time in months.

 

If I were PM, I would have sake the BOE boss as he appeared to be deliberately acting against the UK government. But what do I know!

 

5 Chancellors in 3 years has to be a new record.

 

Edited October 14, 2022 by BritManToo

[BritManToo]

16 minutes ago, Chomper Higgot said:

It was her own MP’s that forced her to sack the Chancellor and will force a Budget U-turn, they are in danger of loosing their seats at the election, very many to Labour.

Nothing worse than a loose seat!

[nigelforbes]

The UK newspapers this morning are full of, "who will replace Truss", apparently Sunak is favorite once again, a PM and a Chancellor all in one, a two for one deal perhaps. ????

[thaibeachlovers]

40 minutes ago, BritManToo said:

The only people being offered for election are those not competent to do the job.

This appears to be a worldwide phenomena an not just a UK problem.

I blame the media frenzy to find dirt on any politician, especially if of the "wrong" political persuasion.

IMO no sane person would subject themselves or their family to that sort of media abuse.

 

[Chomper Higgot]

41 minutes ago, BritManToo said:

Nothing worse than a loose seat!

Sometimes typos nail the truth.

[placeholder]

1 hour ago, thaibeachlovers said:

It may not have been me, but it's certainly what I thought.

I said before he became PM that at least he was amusing and we would be entertained. The "amusing" didn't last long as PM, but the entire time he was PM was "interesting" at least. I liked the Boris from before he became PM, but even though the office changed him ( and not for the better ), I thought it a mistake to change leadership when all about is chaos.

Which reminds me of the Chinese curse: "May you live in interesting times."

[thaibeachlovers]

2 minutes ago, placeholder said:

Which reminds me of the Chinese curse: "May you live in interesting times."

Certainly true of the past 2 years of the great covid chaos.

[Chomper Higgot]

49 minutes ago, BritManToo said:

The only people being offered for election are those not competent to do the job.

This appears to be a worldwide phenomena an not just a UK problem.

 

All Liz had to do was nothing much for 6 months, repeat after me, "I'm new to this job and need to ease my way in before making any changes". But despite all the panic the pound is up t 43+ for the first time in months.

 

If I were PM, I would have sake the BOE boss as he appeared to be deliberately acting against the UK government. But what do I know!

 

5 Chancellors in 3 years has to be a new record.

 

I agree, Truss could have played this as ‘not my mess but we are where we are’ it would have required the public to ignore the fact she was a member of the Government but if she had focussed on the cost of energy and left everything else alone she would have won support.

 

Unfortunately two things conspired against her:

 

1. The extreme rightwing economic dogma she bought into decades ago and has carried with her ever since. She was gagging to inflict it on the nation.

 

2. She’s as thick as two short planks.

The nation pays the price.

[BritManToo]

3 minutes ago, thaibeachlovers said:

Certainly true of the past 2 years of the great covid chaos.

I found the COVID era boring rather than interesting.

[RayC]

8 hours ago, thaibeachlovers said:

Doesn't mean they are right by wanting to elect Labour.

One of the problems of a  democratic system is that the  majority sometimes vote for something which is not in their best interests. Brexit is a prime example.

 

8 hours ago, thaibeachlovers said:

The debacle of the "New Labour" government should never be forgotten ( I had to live through it ),

If Iraq is put aside - admittedly this is an enormous issue to simply disregard - then imo the 'New Labour' years weren't too bad. Ultimately a disappointment but maybe expectations were set too high.

 

One thing is certain. The current debacle would not have occurred on Alister Campbell's watch. It's all very well sacking Kwarteng, but the advisors in Downing Street should be out on the ear unless their advice is being disregarded. In which case, if they had any self respect, they would resign.

 

8 hours ago, thaibeachlovers said:

and when it's a question of which party is the worst option, IMO that still belongs to Labour

Starmer has said little of real consequence and Labour's policies are largely deliberately vague. At some point, they will have to put some flesh on the bones, but in the meantime it is politically shrewd of them to simply sit back and watch the Tories implode and become unelectable.

 

Imo Labour are unlikely to offer any overly radical policies. The decision to choose between an untried opposition and a proven incompetent incumbent government is a relatively easy one for me to make.

 

8 hours ago, thaibeachlovers said:

 ( is it just Labour now, or still New Labour? ).

No doubt a rhetorical question but I'll answer it anyway: The 'New' bit was quietly dropped years ago.

[Bluespunk]

1 hour ago, RayC said:

No doubt a rhetorical question but I'll answer it anyway: The 'New' bit was quietly dropped years ago.

Thank Gaia for that. 

[nigelforbes]

8 hours ago, Chomper Higgot said:

I agree, Truss could have played this as ‘not my mess but we are where we are’ it would have required the public to ignore the fact she was a member of the Government but if she had focussed on the cost of energy and left everything else alone she would have won support.

 

Unfortunately two things conspired against her:

 

1. The extreme rightwing economic dogma she bought into decades ago and has carried with her ever since. She was gagging to inflict it on the nation.

 

2. She’s as thick as two short planks.

The nation pays the price.

The planks will be rightly miffed at this unfair comparison of their IQ.

[RayC]

Just listened to a FT podcast 'Paynes Politics'. In it, George Parker - FT political editor - says, 'One of the great ironies is that this government of ideological free-marketers is being brought down by the market". 

[Chomper Higgot]

6 minutes ago, RayC said:

Just listened to a FT podcast 'Paynes Politics'. In it, George Parker - FT political editor - says, 'One of the great ironies is that this government of ideological free-marketers is being brought down by the market". 

Unfortunately they are taking the economy with them.

[Slip]

22 minutes ago, Chomper Higgot said:

Unfortunately they are taking the economy with them.

not to mention the country.  I notice our usual brexit loudmouths are in short supply these days.

[JonnyF]

15 hours ago, Chomper Higgot said:

It was her own MP’s that forced her to sack the Chancellor and will force a Budget U-turn, they are in danger of loosing their seats at the election, very many to Labour.

Nobody forced her to do it. It was a political mistake. If there were a credible opposition it might have been costly.

 

Let's hope she learns from this before Labour become a serious alternative.

 

She's safe for now but if Starmer, Abbott, Lammy, Rayner etc. were replaced with competent, decent human beings it could become a real issue in terms of staying in power.