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Chancellor Kwasi

Gulfalan67

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So what's up with the UK economy now?

According to a radio talking head I heard this morning, the sterling pound has 'gone off a cliff'. That's no good.

This Lass Liz Truss, your new UK PM, I have had doubts about her since she was spruiking for Brits go take up arms against Comrade Putin's rabble. Fighting talk but a bit naieve for a politician. This latest divergence from Keynesian monetary theory strikes me as similarly reckless -especially as the primary beneficiaries of tax cuts are likely to be higher earners.

Politically brave to pull a stunt like that after just a few days in the job. But with Chancellor Kwasi being an old Eton boy and city hedge fund manager, I remain quietly confident that he has the best interests of the common man ( and woman) at heart.

Our incumbent Minister of Finance is called Kathy Gallagher. I only found that out by looking up her name. I reckon the less you hear about a Chancellor/Minister of Finance, the better, because it means the economy is more or less on track....

Chancellor Kwasi's name is being splashed in news headlines around the world.

Good luck chaps

Alan
 
This is purely speculation and some of us are clearly in the minority here, but there is an ongoing deliberate plan to tank the economy. The purpose? To phase out cash and introduce a digital social credit system which the WEF controlled governments can use to control what people are spending and what they're spending it on. "You will own nothing and be happy" is the plan which came from Klaus Schwab (leader of the WEF) who wrote the Great Reset book. Many worldwide governments include WEF trained members (fact, not conspiracy)
We must all resist this plan.
Keep using cash and buy physical assets because the money in your bank will be worth nothing soon enough.
Sad but I think true.
 
Sterling crashing is working for us at the moment as much of our income is from exporting and it lowers our prices to foreign buyers. We also have no long term debt to worry about but there is a point where inflation makes it impossible to do business. Some mortgage lenders have already withdrawn mortgage offers to customers that no longer fullfill the repayment criteria as repayment costs are likely to soar along with interest rates
 
There definitely being very open about all this 🤔 my understanding was politicians tend to dilute this pish before they make it public….. is it because the Tory’s know this is there last haul in power and there fattening all the fat cats before times change. Surly the normal way of things is , we know! there ripping us off and making the common man pay for it and they deny it🤷🏼‍♂️
 
They know they have no chance after their long list of mistakes. I’m guessing that the conservatives are currently negotiating a whole load of directorships for themselves and doing a lot of underhand dealing to line their pockets before they’re out of office. Politics seems to have sunk to a new low.
 
This lot in hollyrude ( not a typo lol) is the exact same , it’s across the board Mike … battling amongst there selves, in fairness that’s what they do on a normal but these days is very open and to me it seems they have dropped their decorum. It’s less theatrical and more gunho.
 
Interesting perspectives from all. And yet nobody seems to think Chancellor Kwasi's strategy is a good thing. I can indeed imagine your Tory politicians scuttling to rustle up fat directorships for themselves. Exactly the same thing happens here.

But this new policy direction does seem particularly brutal. Mike, agreed you blokes sell commodities and services but the whole world is addicted to imported goods from China. Clothes, electronics, machinery. And of course the fuel and energy you buy. The collapse of the pound is going to hit hard. I suppose there might be economic justification for a correction ( is there?) But socially and politically its gonna hit very hard. Bold move from Chancellor Kwasi.

He must have his future directorship already lined up.

Alan
 
Interesting perspectives from all. And yet nobody seems to think Chancellor Kwasi's strategy is a good thing. I can indeed imagine your Tory politicians scuttling to rustle up fat directorships for themselves. Exactly the same thing happens here.

But this new policy direction does seem particularly brutal. Mike, agreed you blokes sell commodities and services but the whole world is addicted to imported goods from China. Clothes, electronics, machinery. And of course the fuel and energy you buy. The collapse of the pound is going to hit hard. I suppose there might be economic justification for a correction ( is there?) But socially and politically its gonna hit very hard. Bold move from Chancellor Kwasi.

He must have his future directorship already lined up.

Alan
I for one am perfectly willing to reduce the amount of Chinese crap that I buy still further. I tend to avoid it already whenever possible.
 
I for one am perfectly willing to reduce the amount of Chinese crap that I buy still further. I tend to avoid it already whenever possible.

Great sentiment. But alongside the crap the Chinese also make some very valuable and useful things.The steel I buy, the heavy equipment we use everyday, components for the computers and devices we're writing on. Components for motor vehicles.

Last week I placed an order for geofabric. I deliberately placed it with an American company to try and get the best quality stuff. A couple of days later I get a chinglish email back thanking me for my order but telling me they were unable to supply. The Americans hadn't come back to me, their Chinee manufacturers had. The Chinee repayed the value of my order in full (what I paid the Americans).

Honest little bastards... No wonder they are the manufacturers for the world..!🤣

Alan
 
Great sentiment. But alongside the crap the Chinese also make some very valuable and useful things.The steel I buy, the heavy equipment we use everyday, components for the computers and devices we're writing on. Components for motor vehicles.

Last week I placed an order for geofabric. I deliberately placed it with an American company to try and get the best quality stuff. A couple of days later I get a chinglish email back thanking me for my order but telling me they were unable to supply. The Americans hadn't come back to me, their Chinee manufacturers had. The Chinee repayed the value of my order in full (what I paid the Americans).

Honest little bastards... No wonder they are the manufacturers for the world..!🤣

Alan
I tend to buy a lot of used or second hand. The quality is usually far better. Since we deal in antique and vintage things it is second nature to me anyway. We have a much larger reservoir of second hand goods to draw upon since we live in a throwaway society.
Admittedly most everything that you can buy new these days has components manufactured in China but I still check country of origin and avoid Chinese goods whenever I can.
 
So what's up with the UK economy now?

We don't have much manufacturing any more and the cap is being lifted on bankers bonuses to try to attract more banking not interested in anything but money nowadays. We will soon have to import everything.
 
The economy is riddled with get rich quick schemes that drain the public purse and put very little back. There is one at the moment where old office buildings that are nearing the end of their useful life are being bought cheap, redeveloped as social housing and then let as a block to local council housing departments for a fixed term. Once they’re let they’re then sold on to foreign investors at a huge profit. Councils are haemorrhaging money as people who cannot afford the rents get poorer and councils have to maintain old buildings that are not fit for purpose because they’re tied into fully repairing leases. The money flows abroad and a little clever accounting means that there isn’t even any tax paid.
A few people getting rich of the backs of everyone else getting poorer…that is what is wrong with the British economy at the moment. Too many greedy people willing to exploit others and it sucks. That is the kind of economy that Liz Truss is trying to encourage.
 
The economy is riddled with get rich quick schemes that drain the public purse and put very little back. There is one at the moment where old office buildings that are nearing the end of their useful life are being bought cheap, redeveloped as social housing and then let as a block to local council housing departments for a fixed term. Once they’re let they’re then sold on to foreign investors at a huge profit. Councils are haemorrhaging money as people who cannot afford the rents get poorer and councils have to maintain old buildings that are not fit for purpose because they’re tied into fully repairing leases. The money flows abroad and a little clever accounting means that there isn’t even any tax paid.
A few people getting rich of the backs of everyone else getting poorer…that is what is wrong with the British economy at the moment. Too many greedy people willing to exploit others and it sucks. That is the kind of economy that Liz Truss is trying to encourage.

Mike I think that get rich quick attitude is widely prevalent in the upper echelons, political establishment and big business. As somebody wrote earlier in this thread, perhaps they sense a window of opportunity closing.

It sickens me. So many decent folks work hard hours toiling to do their level best for society and leave a better world for future generations while others feel entitled to self-serve and put their own interests first. This whole UK mini budget thing and Chancellor Kwasi is very clearly an exercise in the toffs and politicos feathering their own beds and protecting their own interests.

I wouldn't be surprised if money from those property deals and tax concessions are going to wealthy Russian investors. They seem to own half of London, just as the Chinese investors have bought up Sydney. Oligarchs everywhere, with local politicians on their payroll

Alan
 
Mike I think that get rich quick attitude is widely prevalent in the upper echelons, political establishment and big business.

I wouldn't be surprised if money from those property deals and tax concessions are going to wealthy Russian investors. They seem to own half of London, just as the Chinese investors have bought up Sydney. Oligarchs everywhere, with local politicians on their payroll

Alan
…..sad but true.
 
More like,
COMPANY….COMPANY … ABOUUT TURN, ABOUT TURN……., ( all at 180).
 
Well I have to say that while I’m pleased they’ve seen reason and reversed the decision to cut the 45% tax rate it’s a little too late, they have lost all credibility for fiscal responsibility…the blame for this can be placed squarely on Liz Truss as it was one of her promises to party members during the leadership contest.
 
The internal fighting has begun, Nadine Dorries is telling Truss to call a general election, this is all going to end in tears if she does?
 
Hi folks

Haven't seen the news for a few days because I've been building a road. But sounds like Chancellor Kwasi's economic credentials may have taken a hit. But his fiscal crazy stunt is completely understandable if it was stipulated as his Lassie's price of admission to the Tory Leadership.

But doesn't it just show how rotten the political system is to the core when a PM gets appointed on the basis of their compliance in serving the interests of big business to the detriment of the national economy...?

Shame on Liz Truss and her inept Chancellor. Self servers the pair of them. They should stand aside and make way for somebody who cares for more than their own political fortunes.

Alan
 
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