[Politics] Liz Truss **RESIGNS 20/10/2022**

[Thunder Bolt]

Not even if the second job was "licking road clean with tongue"?

Aye!

I also suspect Mr Shinpad gets a naval pension after 22 years service, but I could be wrong, and apologise if I am.

 

[Paulie Gualtieri]

I'm not sure you have quite grasped how dire the situation will be for some though. Our mortgage (about 2% on around £330k) is due to end in September next year and if rates do indeed go up to 6% then we're looking at about £600-700 a month increase, purely to cover the interest rise. On top of other cost increases, with a little one on the way in February we'll be losing my wife's salary down to statutory around the summer and I'm genuinely worried if we'll be able to afford it. And (not meaning to brag), our household income is well above average, I struggle to think how others will cope - especially those who are renting, who will no doubt be passed on the mortgage increases.

In any case, most employment contracts these days (mine included) stipulate that you can't take up additional work without the permission of your company. I don't think many companies would be happy with their employees taking up more work in the evenings/nights and then turning up half asleep for their primary job.

Pretty much the same boat on balance, rate and fix coming off next November

Worrying times

 

[Mackenzie]

The Conservatives are leaving one hell of a mess behind them.

 

[Peteinblack]

Not even if the second job was "licking road clean with tongue"?

Luxury - we used to dream of licking road clean with tongue

 

[Dick Swiveller]

The Conservatives are leaving one hell of a mess behind them.

But, but, but. If Labour got in, the rail staff would be on strike, the dockers would be on strike and the postmen will be on str.......

Oh - as you were,

 

[Peteinblack]

But, but, but. If Labour got in, the rail staff would be on strike, the dockers would be on strike and the postmen will be on str.......

Oh - as you were,

Imagine if Labour was in government and presiding over this shambolic sh*tshow - borrowing tens of billions to be repaid by the next generation (our children or grandchildren), the value of sterling plummeting, panic in 'the City' and on the stock market, inflation soaring, widespread strikes (among the middle class and working class alike), and the government under its 4th leader and PM in 6 years!

The Daily Mail would be calling for a people's uprising or military coup to save the nation from such catastrophic incompetence and social division - but, hey-ho, it's the 'strong and stable, economically competent, Brexit-loving' Tories, so most of the press continue to fawn over them and point the finger of blame at everyone else. And come the next election, a hard-core of 30-33% of the electorate will still vote for them.

 

[Mackenzie]

I don’t really give a monkeys who is in charge, we just need folk that appear to know what they’re doing. All this point scoring is bullshit is a waste of energy, we need our brightest to work together to get us out of this mess.

Our nation is being failed by its government.

 

[Bra]

I find politics in this country utterly depressing at the moment. The current government have totally messed things up leaving the majority worried about being able to just survive this winter. I would be mad to vote them in again at the next election (and I am not). But in truth the opposition don't impress me much either so I am left with the choice of voting for the least incompetent. And that is just sad.

 

[rogersix]

Imagine if Labour was in government and presiding over this shambolic sh*tshow - borrowing tens of billions to be repaid by the next generation (our children or grandchildren), the value of sterling plummeting, panic in 'the City' and on the stock market, inflation soaring, widespread strikes (among the middle class and working class alike), and the government under its 4th leader and PM in 6 years!

The Daily Mail would be calling for a people's uprising or military coup to save the nation from such catastrophic incompetence and social division - but it's the 'strong and stable, economically competent, Brexit-loving' Tories, so most of the press continue to fawn over them and point the finger of blame at everyone else. And come the next election, a hard-core of 30-33% of the electorate will still vote for them.

bob on, your last sentence is the strangest bit of the whole kit and caboodle

 

[rogersix]

I don’t really give a monkeys who is in charge, we just need folk that appear to know what they’re doing. All this point scoring is bullshit is a waste of energy, we need our brightest to work together to get us out of this mess.

Our nation is being failed by its government.

the torys wont be able to do the right thing, only divide and rule

 

[Machiavelli]

This is why comparisons are ridiculous. It smacks of I’m alright Jack.

Average deposit for first time buyers in London in 1997: £5,200

Average deposit for first time buyers in London in 2021: £150,000

Wages, even in two jobs, have not risen by the same rate.

I actually was a first time buyer in London in 97, and the £4500 deposit was shared between myself and partner. We were both then earning c30k pa. This isn't ingenuity or effort on my behalf. It's luck. And luck as a result of decades of policies on housing.

 

[Machiavelli]

The Conservatives are leaving one hell of a mess behind them.

According to Daniel Hannan, you're wrong. The current market reaction is all due to the fear of a Labour government. So all you have to do is put a X by your Conservative candidate and, come the day after the next election, all will be right with the world and we'll be saying 'hell of a mess? what mess?'

 

[Uh_huh_him]

the torys wont be able to do the right thing, only divide and rule

Yeah this.
They know as well as anyone that they are just not capable of running the country in the state it's about to be plunged into.
A social democratic party will be required to manage the fallout of the last 6 years.

This week's budget was just one final raid on the economy for their backers before handing it over to the others.

 

[Westdene Seagull]

It's telling that many of those bemoaning the crisis that is our housing market talk of them, or their children being 'unable to get on the property ladder'. They're not thinking of getting a nice home, they're thinking about the future wealth that may come as a result.

Rubbish - a vast majority want to get on the property ladder for a number of reasons and future wealth isn't one of them. It's because a mortgage is generally cheaper than rent, they decorate and alter their own property to their tastes which they can't d when renting and finally, and most importantly, they aren't beholden to the whims of their landlord in making up daft rules or indeed suddenly wanting to sell up thus making them homeless.

 

[Westdene Seagull]

But, but, but. If Labour got in, the rail staff would be on strike, the dockers would be on strike and the postmen will be on str.......

Oh - as you were,

You left of Barristers ! That really does show how deep in the do do this government are when a profession that you would reasonably expect would support the Tories goes on strike.

 

[mikeyjh]

Rubbish - a vast majority want to get on the property ladder for a number of reasons and future wealth isn't one of them. It's because a mortgage is generally cheaper than rent, they decorate and alter their own property to their tastes which they can't d when renting and finally, and most importantly, they aren't beholden to the whims of their landlord in making up daft rules or indeed suddenly wanting to sell up thus making them homeless.

You misunderstand, or rather probably I wasn't clear as I never proof read my posts. I'm reflecting on the the very expression of 'getting on the property ladder' rather than 'buying a home', it's found its way deep in to our vernacular and references the fact that most simply expect house prices to grow exponentially and thus they can climb the ladder.

 

[Audax]

BoE announces intervention in Gilt markets. 10yr Gilts interest rates now dropping like a stone. GBP value initially spiked upwards, but has rapidly dropped back.

Interest rates on Gilts dropping is a good thing. But the fact it's the result of the BoE bailing out the government isn't.

 

[Thunder Bolt]

BoE announces intervention in Gilt markets. 10yr Gilts interest rates now dropping like a stone. GBP value initially spiked upwards, but has rapidly dropped back.

Interest rates on Gilts dropping is a good thing. But the fact it's the result of the BoE bailing out the government isn't.

[tweet]1575066027485851648[/tweet]

 

[clapham_gull]

I actually was a first time buyer in London in 97, and the £4500 deposit was shared between myself and partner. We were both then earning c30k pa. This isn't ingenuity or effort on my behalf. It's luck. And luck as a result of decades of policies on housing.

Exactly.

I had to find a very similar deposit for a flat I bought in Clapham around 2000.

I've just checked and it was sold 3 years ago for three times the amount I bought it for.

 

[pb21]

BoE announces intervention in Gilt markets. 10yr Gilts interest rates now dropping like a stone. GBP value initially spiked upwards, but has rapidly dropped back.

Interest rates on Gilts dropping is a good thing. But the fact it's the result of the BoE bailing out the government isn't.

Will this help with inflation?