Race Riots in Leicester

[The Bedlington Terrier]

I like it! Paint it on the chalk cliffs at Dover.

No point Robus, Liz Truss says immigrants are most welcome if they will work for three bucks an hour, and English is no longer mandatory.

[sinkov]

No point Robus, Liz Truss says immigrants are most welcome if they will work for three bucks an hour, and English is no longer mandatory.

What was it I was telling you about Liz just two or three weeks ago mon ami, when you were saying she was the new Thatcher, the answer to the Tory Party's prayers.

I begged to differ if I recall correctly.

[The Bedlington Terrier]

What was it I was telling you about Liz just two or three weeks ago mon ami, when you were saying she was the new Thatcher, the answer to the Tory Party's prayers.

I begged to differ if I recall correctly.

I'll hold my hand up mon ami, I never in my nerviest thoughts imagined this size of $hitfest inside three weeks.

The Tory MP who won Bolton North-east last time round was in the Job Centre this morning, he knows his days are numbered.

[sinkov]

Can't see a way back for the Tories from this debacle, so we get a Labour government, won't make a blind bit of difference, the rich will still be rich, the poor will still be poor, and the Labour government will be able to do just what it's allowed to do and no more.

[Robus]

Your conservatives aren't conserving anything.

[The Bedlington Terrier]

Can't see a way back for the Tories from this debacle, so we get a Labour government, won't make a blind bit of difference, the rich will still be rich, the poor will still be poor, and the Labour government will be able to do just what it's allowed to do and no more.

I was reading in one of the Tory rags that one of the big international banks chief economists to put it mildly to say the least that, “global investors seem to regard the UK Conservative party as some sort of a doomsday cult”.
I'm not wanting to start a brouhaha but only a tiny number of the UK electorate - just 81,000 Tory party members voted to drop the other 67 million of us in the deep brown stuff. Is that democracy? No wonder people have stopped believing in politics.
We simply have to change how we go about things, or it really will be game over.

[sinkov]

I was reading in one of the Tory rags that one of the big international banks chief economists to put it mildly to say the least that, “global investors seem to regard the UK Conservative party as some sort of a doomsday cult”.
I'm not wanting to start a brouhaha but only a tiny number of the UK electorate - just 81,000 Tory party members voted to drop the other 67 million of us in the deep brown stuff. Is that democracy? No wonder people have stopped believing in politics.
We simply have to change how we go about things, or it really will be game over.

On the other hand,

"Best week for pound since 2020 as market recovers from mini-Budget crash"

It seems like the financial experts, economists, journalists and numerous politicians have no more idea than the Tory government about what's just happened and what will happen next. Did anyone, anyone at all, predict that the pound would so quickly recover all it's losses from the mini budget ? If they did, I never read it.

[The Bedlington Terrier]

The hedge fund currency speculators make fortunes out of this sort of $hit sinkov. Guess who was a former hedge fund currency speculator?
A clue for you - Quasi Modo.

[sinkov]

I'm not wanting to start a brouhaha but only a tiny number of the UK electorate - just 81,000 Tory party members voted to drop the other 67 million of us in the deep brown stuff. Is that democracy? No wonder people have stopped believing in politics.
We simply have to change how we go about things, or it really will be game over.

So just 81,000 people voted to make Liz Truss Prime Minister. I may be wrong, but I think that's 81,000 more people than voted for Gordon Brown to become Prime Minister in 2007. As far as I'm aware, he just 'became' Prime Minister because he had just 'become' Leader of the Labour Party. And how many people voted for him to become leader of the Party and thus PM ? None, no one voted for him, he received 308 nominations from Labour MPs, which was enough to preclude any necessity for a vote. So, in effect Gordon said, 'Hey up Tony, I fancy being Prime Minister'. And Tony and the Labour MPs said 'OK Gordon, your turn, you're it'. Neither the general public, nor even Labour Party members were involved.

Is that democracy ?

[sinkov]

The hedge fund currency speculators make fortunes out of this sort of $hit sinkov. Guess who was a former hedge fund currency speculator?
A clue for you - Quasi Modo.

All this sort of stuff is way beyond my pay grade mon ami. So I tend to keep my head down and say little. However, I do recall Brenda asking a gathering of financial experts and economists just after the 2008 crash, 'How is it none of you saw this coming' ? I believe there was an embarrassed silence.

What I do know is that the OBR, ONS and Bank of England economic forecasts are invariably wrong within days of being published, they were at it again only last week,

"How an incorrect recession forecast helped spark the mini-Budget market chaos
Official revision of UK growth from negative to positive has profound consequences"

In normal times, official data revisions of a few decimal points don’t grab the headlines. But with the stroke of a keyboard, Britain's official statistics body wiped out a recession on Friday. The Office for National Statistics (ONS) changed its estimates for GDP growth between April and June up from a contraction of 0.1pc to expansion of 0.2pc. It suggests that the UK economy was actually growing and not shrinking in the period – meaning fears that the UK at this point entered a downturn were incorrect. This revision is significant.

Last week – the day before Kwasi Kwarteng stood up to deliver his mini-Budget – the Bank of England used the previous ONS forecast to warn that Britain had already entered a recession. The Bank expects a decline in output of 0.1pc between July and September, meaning the country would have suffered two consecutive quarters of negative growth based on the original ONS figure. This in turn is likely one reason that Threadneedle Street opted for a 0.5 percentage point increase in interest rates, instead of the 0.75 rise or higher that some traders had been hoping for. In its assessment, a big increase could have risked badly damaging the UK economy at a time of existing weakness.

While the so-called experts at the B of E and ONS can't get their facts right about what's happened in the recent past, how can we have any faith in their predictions for the future ? Maybe someone who was a Chartered Management Accountant for Shell and Economic Director at Cable and Wireless has more idea of what she's doing than the bean counters at the ONS, who can't even count beans ? More idea than all those financiers and economists who Brenda noticed hadn't seen the last recession coming ?

Or maybe she hasn't, I don't know, I doubt anyone else does either.