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A bit of light hearted entertainment to take our mind off the collapse of the UK
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Sep 28, 2022 15:42
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| # ? Jun 15, 2024 10:14 |
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Gravitas Shortfall posted:We're midway through the process of buying a larger house and I have no loving idea what to do tbh, the current mortgage is going to be transferred over then remortgaged in.. I want to say May? But the buyers of our current place have gone quiet and I'm watching the interest rates skyrocket and gently caress me, maybe we should just pull out Ask your conveyancer to complete what they are doing but don't go any further, this so you don't incur more costs then you have already, then hold tight. If the chain is going to collapse make sure it's because of someone else.
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Sep 28, 2022 15:48
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smellmycheese posted:This has to be fake
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Sep 28, 2022 15:52
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https://twitter.com/BethRigby/status/1575135370181754881?t=HSYmHO_Qozz9prhgI74e7w
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Sep 28, 2022 15:53
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Drinkslinger posted:It's PJW, of course he's being genuine. I guess the joke about him never leaving his basement is true and he has literally never been on a commercial aircraft lol
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Sep 28, 2022 15:57
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keep punching joe posted:https://twitter.com/BethRigby/status/1575135370181754881?t=HSYmHO_Qozz9prhgI74e7w If true I'm predicting at least one bank going bust by Friday.
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Sep 28, 2022 15:57
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Darth Walrus posted:https://twitter.com/edconwaysky/status/1575128310740389889?s=46&t=W5-1snIcvntt6Zc7Ymp6Uw Lmao lots of complete idiots in the replies
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Sep 28, 2022 16:00
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keep punching joe posted:https://twitter.com/BethRigby/status/1575135370181754881?t=HSYmHO_Qozz9prhgI74e7w Tesseraction posted:Me reading every new tweet.
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Sep 28, 2022 16:02
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Gravitas Shortfall posted:We're midway through the process of buying a larger house and I have no loving idea what to do tbh, the current mortgage is going to be transferred over then remortgaged in.. I want to say May? But the buyers of our current place have gone quiet and I'm watching the interest rates skyrocket and gently caress me, maybe we should just pull out I am also midway through buying a bigger house but a new build. Already sold my old property and currently living with my Parents. The headache is that new builds were selling way faster than they were being built, so I am not due to complete until March next year. Best case scenario is my mortgage offer doesnt get pulled and my 5 year product sees me through this mess. I dont really know what happens if my offer gets pulled and interests fly up to an unaffordable position. I have some wiggle room for interest rates rising obviously but I guess worst case scenario is if they go up and stay up to a point I cant sustain. Bit of research required I guess, whilst I debate exchanging my deposit into dollars and see if the pound crashes so hard I can just buy the property outright by the time they finish building it. Ha!
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Sep 28, 2022 16:07
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Sep 28, 2022 16:14
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smellmycheese posted:This has to be fake I don't get it: Every plane I've ever been including muslamic EgyptAir has gender neutral bathrooms.
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Sep 28, 2022 16:16
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Funny to think that the Queen died two weeks ago and everyone's already forgotten about it cos the country is so hosed. Things move FAST these days.
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Sep 28, 2022 16:18
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DesperateDan posted:this medium post that was linked from the jack monroe twitter thread is pretty loving damning and gives a lot of receipts on a lot more bullshit than I had been aware of Jeez, it really does bring the receipts. I unfollowed them a while back as I was getting slightly uncomfortable with some of the content but had no idea about all this.
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Sep 28, 2022 16:19
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Jaeluni Asjil posted:I don't get it: Every plane I've ever been including muslamic EgyptAir has gender neutral bathrooms. He's a self appointed expert in global affairs who does videos with a giant world map as a backdrop despite never leaving his basement because he is scared of the big blacks and street crimes and so knows gently caress all about anything other than what he researches on gab and bitchute.
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Sep 28, 2022 16:22
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Regarding the tax cuts, did Kwarteng go further than what Truss had indicated in the leadership election? If not, shouldn’t some of the mini budget have been “priced in”? Basically, are Truss/Kwarteng just doing what they said they would (which by implication would mean that the financial system did not take them seriously during the campaign), or are they even more mad than they made themselves out to be during that campaign?
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Sep 28, 2022 16:23
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Therefore the value of the landlord is about £1k a year and that should be how much rent you pay for the service they provide.
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Sep 28, 2022 16:32
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That doesn't account for the value of their labour. Which is negative about a third of the time.
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Sep 28, 2022 16:34
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I’ll be honest I don’t really understand why this particular budget is crashing the economy. Like, I know in principle the issue is something like “tax cuts mean higher borrowing, which has spooked buyers of UK bonds” but I don’t exactly understand exactly why the cuts were so massively explosive like this. Governments have cut taxes before and have increased borrowing before, so why is this so much worse?
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Sep 28, 2022 16:36
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I think it's a mix of things. Two big things: 1) Big neo-liberal economic instituions don't believe the trickle down economics that the budget is built on anymore. edit: maybe they do in specific conditions, but not as the world is in currently. 2) He announced this with absolutely no planning or forecasting, it makes the entire enterprise look stupid and inexperienced and that the country is run by morons
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Sep 28, 2022 16:40
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Halisnacks posted:Regarding the tax cuts, did Kwarteng go further than what Truss had indicated in the leadership election? If not, shouldn’t some of the mini budget have been “priced in”? A lot of what has caused this is tone. The markets have been generally supportive of energy price subsidies as better than the alternative. The 1p income tax cut is stupid but also just bringing forward something that was already announced to happen in 2024. And it all came with a bunch of other stuff like planning reform that they would normally like. But standing up two minutes after you get into power and giving the wealthy a 5% cut came across as deeply unserious. Brazenly making GBS threads on international consensus and putting your fiscal policy in direct opposition to your central bank. It shattered any belief that these people are serious instantly and the markets priced in a massive moron premium
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Sep 28, 2022 16:42
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Reveilled posted:I’ll be honest I don’t really understand why this particular budget is crashing the economy. Like, I know in principle the issue is something like “tax cuts mean higher borrowing, which has spooked buyers of UK bonds” but I don’t exactly understand exactly why the cuts were so massively explosive like this. Governments have cut taxes before and have increased borrowing before, so why is this so much worse? My guess is that (1) market participants don’t buy that these tax cuts for the rich will actually grow the economy and (2) don’t like that the Treasury are trying to prioritise growth while the BoE are trying to cool it; fiscal and monetary policy are not joined up. But I still don’t understand why the market reaction is happening now rather than during the leadership contest once it was clear Truss was going to take it. Edit: ^^ this goes some way to explaining it; thanks!
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Sep 28, 2022 16:42
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I assume it is also the other shoe dropping from like, everything that happened since the brexit referendum. And also I guess the fact that we never actually recovered from 2008. And the yanks loving everything up somehow. Glad I don't have a pension fund!
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Sep 28, 2022 16:43
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Olewithmilk posted:I think it's a mix of things. Two big things: I think it wasn't even that there was no forecasting, the department in charge of forscasting did create a statement about the impact of this but Kwertang deliberately suppressed them from releasing it by making this a 'mini-budget' instead of a standard budget where it would be required to have the forecast. So it's extremely transparent that they know this will be bad for the economy and have data showing this that they are refusing to allow released.
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Sep 28, 2022 16:44
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Brendan Rodgers posted:Anti-natalism is way too happy, optimistic, and anthropocentric. Read some Ligotti, and learn about how the existence of any life, anywhere in the universe, is a blight upon its serenity. Not a fan of this ligotti guy stealing my ideas tbh.
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Sep 28, 2022 16:45
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https://twitter.com/brexit_sham/status/1575149720846176257 https://twitter.com/kateferguson4/status/1575146474429628417
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Sep 28, 2022 16:51
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OwlFancier posted:Not a fan of this ligotti guy stealing my ideas tbh. Halisnacks posted:But I still don’t understand why the market reaction is happening now rather than during the leadership contest once it was clear Truss was going to take it.
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Sep 28, 2022 16:56
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a pipe smoking dog posted:If true I'm predicting at least one bank going bust by Friday. Tax cuts will continue until morale improves.
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Sep 28, 2022 17:04
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Truss' promises also got more ridiculous as the leadership campaign progressed. It's not hard to believe that finance types assumed she and Kwarteng would course-correct a little on taking office.
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Sep 28, 2022 17:05
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My not-fully digested feeling is that it's because the budget effectively said "we have nothing in the UK left to squeeze to investors, so we're gonna give it to the Tory party base as tax breaks" and the investor response was "well either that's true or they're such simpletons that it might as well be true" so they've started getting out of the UK investments while they can. Which, if you're not wanting to hold the pound generally, means there's more people wanting to get rid of the pound then get into it, which shifts the price downwards, which makes everything in the UK more expensive (as more things are imported than not) - which makes the current situation even more worse, and why would you want to stay in the situation financially if it looks like it will be getting much worse. If the tax cuts were combined with some indication that there was some genuine care about the long-term health of the economy, then maybe it wouldn't be as bad, but (and I appreciate the country is not equivalent to a corporation) why the gently caress would you hold shares in a company that is on fire and the new CEO/CFO decide the best course of action is to give investors a bigger dividend in the hopes that they will... buy enough of the product to prop the company back up? As opposed to restructuring, asking for more funding for investment into operations/tech/training, etc. Basically put yourself into the position of someone with millions if not billions in capital, look at the UK, and go "can I make more money from this". And to be clear, obviously a ton of this is morally poo poo, but I think that's the general driver.
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Sep 28, 2022 17:05
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The markets don't want runaway inflation, so will poo poo all over massive, unexpected, inflationary giveaways
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Sep 28, 2022 17:07
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Yeah the hope was Truss was promising these insane tax cuts for the rich to appease the membership and she wouldn't actually go through with them fully. Under Boris there was still some kayfabe about being a peoples party and 'levelling up' communities. Not that they actually did anything at all that wasn't to enrich themselves but there was a kind of pretense thats gone out the window now that they're calling giving all their rich mates tax cuts 'fair' as fuel prices skyrocket and blatantly profiting hugely off playing games with the economy.
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Sep 28, 2022 17:11
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It's a jolly good thing that nobody nationalized anything without recompense or else we might be looking at capital flight.
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Sep 28, 2022 17:12
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Oh and the thing that’s really comically dumb is that pretty much everyone in every income tax bracket is going to be poorer as a result of all this, so even the premise of people spending more money is just not a thing that will happen. Or indeed the idea that the Tory base will get more money. Which is obvious to seemingly everyone aside Kwarteng.
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Sep 28, 2022 17:13
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Hobo posted:Oh and the thing that’s really comically dumb is that pretty much everyone in every income tax bracket is going to be poorer as a result of all this, so even the premise of people spending more money is just not a thing that will happen. Or indeed the idea that the Tory base will get more money. Which is obvious to seemingly everyone aside Kwarteng. Have you considered that this might be Britannia Unchained, and therefore good?
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Sep 28, 2022 17:19
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josh04 posted:Have you considered that this might be Britannia Unchained, and therefore good? If the UK’s bankai is making GBS threads itself then sure.
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Sep 28, 2022 17:24
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So there’s no loving way the NHS* could survive an IMF intervention, should it come to that, right? [*the NHS as in a National, socialised healthcare service, I’m sure there’ll always be a brand called ‘the NHS’, it’ll just be a quango that processes private contractors in the hope that nobody notices, which it already partially is of course]
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Sep 28, 2022 17:25
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uk is doomed, we need to seperate ourselves from the perfidious english who seek this vile scum oval office gentry class, that live in the rafters of the ever perpetual centrist/right-wing alliance continuity david cameron government aristocracy
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Sep 28, 2022 17:25
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Hobo posted:Oh and the thing that’s really comically dumb is that pretty much everyone in every income tax bracket is going to be poorer as a result of all this, so even the premise of people spending more money is just not a thing that will happen. Or indeed the idea that the Tory base will get more money. Which is obvious to seemingly everyone aside Kwarteng. I think that there's only so far you can go in assuming that the people doing this are completely oblivious, when the alternative is that the unstable equilibrium between capitalism and democracy has finally collapsed, international capital finally has more bargaining power than the electorate, and our politicians are just going 'gently caress it, we're asset-stripping the country'. That all this is terrible for the UK as a nation doesn't mean that it's valueless, only that the health of the country is no longer a priority for the people running it.
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Sep 28, 2022 17:26
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https://twitter.com/PippaCrerar/status/1575144726508044291 e: In other news, the twitterati are hinting that Boris is squatting in Chequers, I guess knowing that he'll be officially back there in a few weeks. It explains why Truss met foreign dignitaries at Chevening, the grace and favour mansion for the Foreign Secretary, rather than Chequers as is tradition. fuctifino fucked around with this message at 17:39 on Sep 28, 2022 |
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Sep 28, 2022 17:30
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| # ? Jun 15, 2024 10:14 |
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Red Oktober posted:Jeez, it really does bring the receipts. Glad the kneejerk and fact-free opinion I've had of them for ages has been confirmed.
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Sep 28, 2022 17:39
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