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

[mikeyjh]

from Jake Berry Tory Chair.

“That's the right motivation. It's how households work. People know that when their bills arrive they can either cut their consumption or they can get a higher salary, go out and get that new job. That's the approach the government is taking, we're saying: look, let's create growth so households can afford their bills”

How much of a **** do you have to be to come out with this type of bollocks? I mean it’s going to be a piece of piss getting a higher paid job duration a recession [emoji2357] . The wanker.


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Standard Tory, they really don't understand what things are like outside of their world of privilege is like, genuinely. I would add that I hate that they compare running the country to running a household. Deliberately dishonest nasty bar stewards.

 

[CHAPPERS]

High level trolling making Rees Moggs business partner and Tory donor a Trade Minister through peerage.

 

[Boroseagull]

How I wish it was me that thought this word up , but I didn't.....Trussterfk!

 

[Machiavelli]

Agree with what you say except the economy is not in recession.

My hunch is that we are. Note that recessions are only confirmed retrospectively.

 

[Cheshire Cat]

Hurrah - Some good news.

UK is not in recession as second quarter GDP grows 0.2%

In Liz we trust?

This is irony, isn't it?

 

[rogersix]

Standard Tory, they really don't understand what things are like outside of their world of privilege is like, genuinely. I would add that I hate that they compare running the country to running a household. Deliberately dishonest nasty bar stewards.

they have to apply reductionism to understand it themselves

 

[rogersix]

At last, after only 12 years of Tory robbery, bribery, corruption, the transfer of billions of pounds from the bank accounts of the poorest into the accounts of the wealthiest, finally, the miracle of trickle down is showing how well it works.
A massive 0.2% of rampant growth all in one quarter. I don't understand what people are complaining about.

This is irony, isn't it?

some peoples grasp of economics isn't what it might be

he actually voted for truss! one of the few!

 

[GT49er]

There's obviously some on here who understand finance and economics much better than me - so could one of you kindly explain why the rise in the BofE basic rate, mortgage and borrowing interest rates sky-rocketing this doesn't seem to have any effect on the interest rates on savings? If the rate on my ISA even got up to 1% that would be a major improvement, 2% even better.

In the current climate I realise that this might appear a tad selfish, but the Bank of Mum and Dad - well, just Dad in my case - could do with a little help and protection. It is sure to be called on again soon!

 

[ManOfSussex]

I think Clarkson sums it up well in his Sunday Times column in today's issue, I quote......' all I could think was that 600 stupid old ladies in Bournemouth had given us this prime minister simply because they didn’t want an Indian

Rod Liddle made me chuckle today as well in his Sunday Times column with this: I knew Truss would be bad but I didn’t imagine she’d be this bad. You listen to her stumbling through interview after interview and each time conclude, a little worriedly, that there is nothing there: no fiendishly clever plan, no real understanding of economics, or of public perception, or of politics — no grasp of the realities. Why couldn’t she have stayed in the Lib Dems? There’s loads of people like her there.

 

[Cheshire Cat]

There's obviously some on here who understand finance and economics much better than me - so could one of you kindly explain why the rise in the BofE basic rate, mortgage and borrowing interest rates sky-rocketing this doesn't seem to have any effect on the interest rates on savings? If the rate on my ISA even got up to 1% that would be a major improvement, 2% even better.

In the current climate I realise that this might appear a tad selfish, but the Bank of Mum and Dad - well, just Dad in my case - could do with a little help and protection. It is sure to be called on again soon!

Because the banks don't want to increase savings rates as it will cost them something.

It's as simple as that.

 

[rogersix]

There's obviously some on here who understand finance and economics much better than me - so could one of you kindly explain why the rise in the BofE basic rate, mortgage and borrowing interest rates sky-rocketing this doesn't seem to have any effect on the interest rates on savings? If the rate on my ISA even got up to 1% that would be a major improvement, 2% even better.

In the current climate I realise that this might appear a tad selfish, but the Bank of Mum and Dad - well, just Dad in my case - could do with a little help and protection. It is sure to be called on again soon!

there are lots of people who haven't even got that!

 

[Weststander]

Truss is completely out of her depth, in every conceivable way. Not 20:20 vision by me ... in July/August I posted that it was incredible the party members were voting in a right-wing candidate. Sunak's crime .... he told the truth about public finances.

She doesn't have the gravitas, common sense or oratory.

I just listened to a fantastic show on LBC presented by Sangita Myska, who stuck to facts without red-tinted hyperbole. Mortgaged households are heading to a 1992-esque cliff, repayments are going to sink families, people will lose everything and genuinely some might take their lives as they did in 1992 and 2008. Truss is the wrong person, with a non-empathetic touch, to be heading the UK just now.

The US have created this period of much higher interest rates, unfortunately other nations and blocs have to follow. I don't what can be done about it, as global money markets determine so much. I'm hoping that Starmer here or for example the OECD can come up with workable solutions. The Lamont mess of 1992 hurt many people for a long time. Can something be done early doors this time around?

 

[Bodian]

from Jake Berry Tory Chair.

“That's the right motivation. It's how households work. People know that when their bills arrive they can either cut their consumption or they can get a higher salary, go out and get that new job. That's the approach the government is taking, we're saying: look, let's create growth so households can afford their bills”

How much of a **** do you have to be to come out with this type of bollocks? I mean it’s going to be a piece of piss getting a higher paid job duration a recession [emoji2357] . The wanker.


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There's quite a few jobs that pay higher than, say, nurses. Is he suggesting that all the nursing staff who are struggling should leave and get a better paid job? Same applies to many other local authority staff who's services we all rely on.

 

[GT49er]

Because the banks don't want to increase savings rates as it will cost them something.

It's as simple as that.

Not really. The interest rates always used to fluctuate with the base rate/lending rate (always lower than the rate at which they loaned, obviously - that's how banks made their legitimate profits). It's only relatively recently (well into this century) that the rates on savings accounts have plunged to their current levels.

 

[Paulie Gualtieri]

There's obviously some on here who understand finance and economics much better than me - so could one of you kindly explain why the rise in the BofE basic rate, mortgage and borrowing interest rates sky-rocketing this doesn't seem to have any effect on the interest rates on savings? If the rate on my ISA even got up to 1% that would be a major improvement, 2% even better.

In the current climate I realise that this might appear a tad selfish, but the Bank of Mum and Dad - well, just Dad in my case - could do with a little help and protection. It is sure to be called on again soon!

If saving rates are passed on this has a direct impact for cost of funds on mortgages for retail banks

 

[rogersix]

Not really. The interest rates always used to fluctuate with the base rate/lending rate (always lower than the rate at which they loaned, obviously - that's how banks made their legitimate profits). It's only relatively recently (well into this century) that the rates on savings accounts have plunged to their current levels.

is it a case of, "do as you're told, get what you're given"?

 

[WATFORD zero]

There's obviously some on here who understand finance and economics much better than me - so could one of you kindly explain why the rise in the BofE basic rate, mortgage and borrowing interest rates sky-rocketing this doesn't seem to have any effect on the interest rates on savings? If the rate on my ISA even got up to 1% that would be a major improvement, 2% even better.

In the current climate I realise that this might appear a tad selfish, but the Bank of Mum and Dad - well, just Dad in my case - could do with a little help and protection. It is sure to be called on again soon!

I can't help but think you've left it a little late to ask for advice on finance and economics, you seemed more than happy to get us to here sorry

 

[Deportivo Seagull]

There's quite a few jobs that pay higher than, say, nurses. Is he suggesting that all the nursing staff who are struggling should leave and get a better paid job? Same applies to many other local authority staff who's services we all rely on.

Looks like it. I wonder what he’s going to do when streets are overflowing with rubbish and there’s no food on shelves in supermarkets as they’ve all gone a got better paid jobs, not that they actually exist.


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[GT49er]

I can't help but think you've left it a little late to ask for advice on finance and economics, you seemed more than happy to get us to here sorry

It still surprises me that some people still believe that Brexit caused Covid, the war in Ukraine and the crash of 2008. Sadly, some of these people still can't let go of their myths and delusions, and still burble on about unicorns......................

 

[Thunder Bolt]

I think Clarkson sums it up well in his Sunday Times column in today's issue, I quote......' all I could think was that 600 stupid old ladies in Bournemouth had given us this prime minister simply because they didn’t want an Indian

Misogyny is alive and kicking. Many Tory members are male, play golf and want to keep their share portfolio nice and high.

In the meantime, Truss has threatened to remove the whip from any Tory MP who doesn’t vote for the mini budget on Thursday.