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Pound slumps to all-time low against dollar


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The pound is not out of the woods yet.

 

Next up, Parliament must vote on the finance that supports the budget.

 

We’ll get an idea how that is likely to play out during the up coming Conservative Party Conference. With polls swinging hard against the Tories, very many of Truss’ back benchers are looking at defeat unless something changed dramatically.

 

Meanwhile, nobody has received a tax cut and very many have already received notification of interest on their debts increasing.

 

This is a long way from over.

 

 

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8 minutes ago, transam said:

Yes, nothing to do with G7...

You already confirmed you didn't read it, no need to do so twice.

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2 minutes ago, Chomper Higgot said:

The pound is not out of the woods yet.

 

Next up, Parliament must vote on the finance that supports the budget.

 

We’ll get an idea how that is likely to play out during the up coming Conservative Party Conference. With polls swinging hard against the Tories, very many of Truss’ back benchers are looking at defeat unless something changed dramatically.

 

Meanwhile, nobody has received a tax cut and very many have already received notification of interest on their debts increasing.

 

This is a long way from over.

 

 

 

They have over 2 years to get their act together.

 

 

Whether they (or global economic conditions etc) can achieve that remains to be seen. BUT, there is plenty of tome  -  oh, and no viable opposition at the moment.

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1 minute ago, hotandsticky said:

 

They have over 2 years to get their act together.

 

 

Whether they (or global economic conditions etc) can achieve that remains to be seen. BUT, there is plenty of tome  -  oh, and no viable opposition at the moment.

The BoE is forecasting 18 months of recession, which has already started.

 

Inflation is forecast to over 13% and interests rates are forecast to go higher.

 

On top of this the PM is already suggesting slashing welfare and public spending.

 

The upcoming conference and the return of Parliament are going to be extremely interesting.

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10 minutes ago, Chomper Higgot said:

The BoE is forecasting 18 months of recession, which has already started.

 

Inflation is forecast to over 13% and interests rates are forecast to go higher.

 

On top of this the PM is already suggesting slashing welfare and public spending.

 

The upcoming conference and the return of Parliament are going to be extremely interesting.

Liz Truss did quote a tough 2 years, did you forget....?

 

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11 minutes ago, transam said:

Liz Truss did quote a tough 2 years, did you forget....?

 

And yet she couldn’t see two hours into the future before her Chancellor announced their madness of borrowing money to give to the already wealthy.

 

If sh has a plan, and she says she does, it’s time she published it.

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1 hour ago, Chomper Higgot said:

And yet she couldn’t see two hours into the future before her Chancellor announced their madness of borrowing money to give to the already wealthy.

 

If sh has a plan, and she says she does, it’s time she published it.

Yes, it was a tough 2 years...

 

Have you thought of contacting her directly.....🤓

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2 hours ago, hotandsticky said:

 

They have over 2 years to get their act together.

 

 

Whether they (or global economic conditions etc) can achieve that remains to be seen. BUT, there is plenty of tome  -  oh, and no viable opposition at the moment.

Whether the opposition have policies that are viable remains to be seen. However, there is little doubt that Labour are viable in terms of being electable as the latest polls show.

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39 minutes ago, RayC said:

Whether the opposition have policies that are viable remains to be seen. However, there is little doubt that Labour are viable in terms of being electable as the latest polls show.

They would vote for "The Monster Raving Loony Party" if they were still around, and spouting they could fix the latest woes....🤭

 

Look how the Labourites flocked to Boris a couple of years back....🤣

https://en.wikipedia.org/wiki/Official_Monster_Raving_Loony_Party

 

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16 minutes ago, RayC said:

Whether the opposition have policies that are viable remains to be seen. However, there is little doubt that Labour are viable in terms of being electable as the latest polls show.

There are only so many possible solutions, each of them will have been modelled by Treasury and by economists everywhere. It would be foolish to think that whilst Labour may appear electable presently, that they can come up with any new combination of fiscal measures that will suddenly cure all ills....they don't have a good track record in this area, to say the least. The euphoria of seeing the Conservatives deposed will mask many problems. Their first budget or set of fiscal measures will help relieve the burden on the poorest and no doubt thrash the richest. But fiscal drag being what it is, will take some time to unmask the results, that's about the time that everyone starts to wonder if they actually voted the right way....a bit like Brexit I suppose.

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57 minutes ago, transam said:

Yes, it was a tough 2 years...

 

Have you thought of contacting her directly.....🤓

Actually, thinking that one could contact the PM directly or suggesting to someone that they try would be a mark of delusional thinking or su. So tell us, have you thought of contacting the Prime Minister?

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3 minutes ago, placeholder said:

Actually, thinking that one could contact the PM directly or suggesting to someone that they try would be a mark of delusional thinking or su. So tell us, have you thought of contacting the Prime Minister?

No, why should I, I have no need too, she told the populace it will be a tough 2 years, not a tough 2 weeks, as some here think....😉....🤭

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4 minutes ago, transam said:

No, why should I, I have no need too, she told the populace it will be a tough 2 years, not a tough 2 weeks, as some here think....😉....🤭

Yet you suggested it for someone else. I guess you're saving for the future when there's a PM you don't admire.

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4 minutes ago, placeholder said:

Yet you suggested it for someone else.

 

I guess you're saving for the future when there's a PM you don't admire.

Nothing to do with admiring anyone, I made a suggestion for another, you are just butting in, as usual. 🥴

 

Yes, as usual, you "guess"

Where have I said I admire Liz Truss, or any other MP.....?

Take your time................:coffee1:

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5 minutes ago, transam said:

Nothing to do with admiring anyone, I made a suggestion for another, you are just butting in, as usual. 🥴

 

Yes, as usual, you "guess"

Where have I said I admire Liz Truss, or any other MP.....?

Take your time................:coffee1:

Well, unless you made that suggestion in bad faith, why wouldn't you follow it when the time comes?

Anyone who claims to suspend judgement on such lunatic policies as Truss is pursuing must be at least secret admirer.

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5 minutes ago, transam said:

Nothing to do with admiring anyone, I made a suggestion for another, you are just butting in, as usual. 🥴

 

As for "butting in"... if you want to offer private counseling, a forum open to all members of aseannow.com is not exactly a sensible place to do it.

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57 minutes ago, transam said:

They would vote for "The Monster Raving Loony Party" if they were still around, and spouting they could fix the latest woes....🤭

 

Look how the Labourites flocked to Boris a couple of years back....🤣

https://en.wikipedia.org/wiki/Official_Monster_Raving_Loony_Party

 

What's your point? The electorate are fickle?

 

(Un?) fortunately the MRLP never came close to winning a seat. 

 

I might have voted for them if I had known that they were standing on a platform of an 'Al dente' Brexit and sending Noel Edmonds to negotiate the Brexit deal because he understood 'Deal or No deal'😂

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4 minutes ago, placeholder said:

Well, unless you made that suggestion in bad faith, why wouldn't you follow it when the time comes?

Anyone who claims to suspend judgement on such lunatic policies as Truss is pursuing must be at least secret admirer.

1. My suggestion is/was nothing to do with you, are you trying to make a problem....?

2. Lunatic policies are just your take on things, as someone who has nothing to do with governing, none whatsoever.

3. More guessing, you may have a "guessing" phobia problem....🤓😉

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Just now, RayC said:

What's your point? The electorate are fickle?

 

(Un?) fortunately the MRLP never came close to winning a seat. 

 

I might have voted for them if I had known that they were standing on a platform of an 'Al dente' Brexit and sending Noel Edmonds to negotiate the Brexit deal because he understood 'Deal or No deal'😂

A %, yes.....🤓

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9 minutes ago, placeholder said:

As for "butting in"... if you want to offer private counseling, a forum open to all members of aseannow.com is not exactly a sensible place to do it.

You should apply for a job there, you do a lot of talking about what folk here should do.....:clap2:

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1 hour ago, nigelforbes said:

There are only so many possible solutions, each of them will have been modelled by Treasury and by economists everywhere. It would be foolish to think that whilst Labour may appear electable presently, that they can come up with any new combination of fiscal measures that will suddenly cure all ills....they don't have a good track record in this area, to say the least.

I disagree.

 

While there might be a finite number of variables, there are an almost infinite number of combinations in the value of the various parameters and underlining  assumptions that can be tweaked and modelled.

 

However, I agree that it would be naive to think that any government of whatever colour has a 'cure all' solution(s).

 

1 hour ago, nigelforbes said:

The euphoria of seeing the Conservatives deposed will mask many problems. Their first budget or set of fiscal measures will help relieve the burden on the poorest and no doubt thrash the richest.

I don't think that you can be so definitive about what will be contained in the first budget of any potential Labour administration. Different times and circumstances but Gordon Brown's first budget did not hammer the rich.

 

1 hour ago, nigelforbes said:

But fiscal drag being what it is, will take some time to unmask the results, that's about the time that everyone starts to wonder if they actually voted the right way....a bit like Brexit I suppose.

True enough. Instantaneous results are what is expected.

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1 hour ago, RayC said:

Whether the opposition have policies that are viable remains to be seen. However, there is little doubt that Labour are viable in terms of being electable as the latest polls show.

I wouldn't agree with that - even real Labour voters don't like Starmer.

 

....and I certainly wouldn't take too much notice of polls😆

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