New prime minister

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New prime minister

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SW19 CPFC Addiscombe West 23 Sep 22 11.48am
Originally posted by Rudi Hedman I think there’ll be an ele.ction in 2023 rather than 2024. They know there’s a good chance and they’re cutting the hell out of taxes while having to hand out support. We have a PM who very few have confidence in during the most turbulent times. Take a big risk in round 12, may as well. Clear the decks when the party (power) is over. If she wins a general election I may have to increase my general populous moron percentage to an unprecedented 98% Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 23 Sep 22 11.48am

Originally posted by Rudi Hedman

I think there’ll be an ele.ction in 2023 rather than 2024. They know there’s a good chance and they’re cutting the hell out of taxes while having to hand out support.

We have a PM who very few have confidence in during the most turbulent times.

Take a big risk in round 12, may as well. Clear the decks when the party (power) is over.

If she wins a general election I may have to increase my general populous moron percentage to an unprecedented 98%

Did you know? 98.0000001% of people are morons.

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HKOwen Hong Kong 23 Sep 22 11.54am
Originally posted by SW19 CPFC An assumption that the opposition could do no better is not a reason to support this dross It's a knee-jerk attempt at populist policy (for core tory voters) that on current probability will backfire massively. Markets appear to agree. Pound and yields doing brilliantly You're completely right. FYI I did not say the opposition could not do better. I said as at today they have offered no alternatives on which to judge if they could do better, sorry about the pesky fact. Edited by HKOwen (23 Sep 2022 12.04pm) Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.
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HKOwen

Hong Kong 23 Sep 22 11.54am

Originally posted by SW19 CPFC

An assumption that the opposition could do no better is not a reason to support this dross

It's a knee-jerk attempt at populist policy (for core tory voters) that on current probability will backfire massively.

Markets appear to agree. Pound and yields doing brilliantly

You're completely right.

FYI I did not say the opposition could not do better. I said as at today they have offered no alternatives on which to judge if they could do better, sorry about the pesky fact.

Edited by HKOwen (23 Sep 2022 12.04pm)

Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.

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steeleye20 Croydon 23 Sep 22 12.05pm
The equation cannot possibly be worth the pain, a measly 1% growth per annum. She seems to have combined years of failing trickle down policies with reckless borrowing on a huge scale, the cost of which is rocketing every day. The pound heading for parity with the dollar. From the great unelected.
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steeleye20

Croydon 23 Sep 22 12.05pm

The equation cannot possibly be worth the pain, a measly 1% growth per annum.

She seems to have combined years of failing trickle down policies with reckless borrowing on a huge scale, the cost of which is rocketing every day.

The pound heading for parity with the dollar.

From the great unelected.

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Henry of Peckham Eton Mess 23 Sep 22 12.17pm
Originally posted by SW19 CPFC I tend to agree. It's an attempt at Jazz hands to distract from the multiple fails occurring at every level within Government. Not sure the BoE would welcome them to an open day though – they're on a collision course Also the fracking ban being lifted is a total red herring, absolutely pointless – clearly lobbied by some moneyed charlatans in exchange for support and donations. Anyone worried about fracking becoming a thing again would do well to listen to the ex-CEO of cuadrilla talking earlier this week – they can lift the ban, but it's dead in the UK. That ship sailed 10 years ago. In summary, Chucky is clueless. You can be sure of that ... the BoE has some long serving ex Treasury personnel at the helm. I suspect 'Chucky' has merely guaranteed the next government will be Labour who will reverse the tax 'give aways' and have to add more to pay for the increased tax shortfall. Denial is not just a river in Egypt
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Henry of Peckham

Eton Mess 23 Sep 22 12.17pm

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Originally posted by SW19 CPFC

I tend to agree. It's an attempt at Jazz hands to distract from the multiple fails occurring at every level within Government. Not sure the BoE would welcome them to an open day though – they're on a collision course

Also the fracking ban being lifted is a total red herring, absolutely pointless – clearly lobbied by some moneyed charlatans in exchange for support and donations. Anyone worried about fracking becoming a thing again would do well to listen to the ex-CEO of cuadrilla talking earlier this week – they can lift the ban, but it's dead in the UK. That ship sailed 10 years ago.

In summary, Chucky is clueless.

You can be sure of that ... the BoE has some long serving ex Treasury personnel at the helm. I suspect 'Chucky' has merely guaranteed the next government will be Labour who will reverse the tax 'give aways' and have to add more to pay for the increased tax shortfall.

Denial is not just a river in Egypt

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SW19 CPFC Addiscombe West 23 Sep 22 12.30pm
Originally posted by HKOwen You're completely right. FYI I did not say the opposition could not do better. I said as at today they have offered no alternatives on which to judge if they could do better, sorry about the pesky fact. Edited by HKOwen (23 Sep 2022 12.04pm) You said they have no alternatives. That is pretty definitive. I could retrospectively reword it to align with how you remembered it though (doesn't read proper like, but pesky facts and all that) 'To be fair as at today Reeves and Labour have offered no alternatives and just throw out old, tired cliches and sound bites.' Subtle but relevant Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 23 Sep 22 12.30pm

Originally posted by HKOwen

You're completely right.

FYI I did not say the opposition could not do better. I said as at today they have offered no alternatives on which to judge if they could do better, sorry about the pesky fact.

Edited by HKOwen (23 Sep 2022 12.04pm)

You said they have no alternatives. That is pretty definitive.

I could retrospectively reword it to align with how you remembered it though (doesn't read proper like, but pesky facts and all that)

'To be fair as at today Reeves and Labour have offered no alternatives and just throw out old, tired cliches and sound bites.'

Subtle but relevant

Did you know? 98.0000001% of people are morons.

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HKOwen Hong Kong 23 Sep 22 12.40pm
Originally posted by steeleye20 The equation cannot possibly be worth the pain, a measly 1% growth per annum. She seems to have combined years of failing trickle down policies with reckless borrowing on a huge scale, the cost of which is rocketing every day. The pound heading for parity with the dollar. From the great unelected. How much do you think without googling a 1% increase in the economy is worth, you have either no idea or similarly no idea what measly means Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.
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HKOwen

Hong Kong 23 Sep 22 12.40pm

Originally posted by steeleye20

The equation cannot possibly be worth the pain, a measly 1% growth per annum.

She seems to have combined years of failing trickle down policies with reckless borrowing on a huge scale, the cost of which is rocketing every day.

The pound heading for parity with the dollar.

From the great unelected.

How much do you think without googling a 1% increase in the economy is worth, you have either no idea or similarly no idea what measly means

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SW19 CPFC Addiscombe West 23 Sep 22 12.43pm
Originally posted by HKOwen "That ship sailed 10 years ago." as did the ex CEO who left the company about 10 years ago and was not a geologist. For the foreseeable any domestic source of energy needs to be exploited while we shift the fuel mix of generation. Decades of poor decisions going back to the late 90's Edited by HKOwen (23 Sep 2022 11.37am) This isn't entirely true either. As far as I'm aware he was/is a geologist, but yes he hasn't been in the business for a decade so sure, he is no doubt a bit out of the loop. I would be surprised if he does not frequently engage with contacts within the industry, though. His point is still relevant – any significant investment is better spent on emerging and renewable energy sources which offer far better long term ROI than they did a decade ago. No one is denying we need a mix of energy in order to transition but the idea that fracking somehow puts us on a US style path to energy independence is nonsense based on current rational consensus. It would take decades to get to that point and by then the transition would already have occurred. The amount of energy and money it takes to extract what would offer comparatively poor ROI and amount to barely a dent in our gas requirements, even as they are declining. It is completely pointless beyond fulfilling a lobbying promise and allowing the government to revisit the old 'open for business' nonsense. Maybe reading too much Guido. Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 23 Sep 22 12.43pm

Originally posted by HKOwen

"That ship sailed 10 years ago." as did the ex CEO who left the company about 10 years ago and was not a geologist.

For the foreseeable any domestic source of energy needs to be exploited while we shift the fuel mix of generation.

Decades of poor decisions going back to the late 90's

Edited by HKOwen (23 Sep 2022 11.37am)

This isn't entirely true either.

As far as I'm aware he was/is a geologist, but yes he hasn't been in the business for a decade so sure, he is no doubt a bit out of the loop. I would be surprised if he does not frequently engage with contacts within the industry, though.

His point is still relevant – any significant investment is better spent on emerging and renewable energy sources which offer far better long term ROI than they did a decade ago. No one is denying we need a mix of energy in order to transition but the idea that fracking somehow puts us on a US style path to energy independence is nonsense based on current rational consensus. It would take decades to get to that point and by then the transition would already have occurred.

The amount of energy and money it takes to extract what would offer comparatively poor ROI and amount to barely a dent in our gas requirements, even as they are declining. It is completely pointless beyond fulfilling a lobbying promise and allowing the government to revisit the old 'open for business' nonsense.

Maybe reading too much Guido.

Did you know? 98.0000001% of people are morons.

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SW19 CPFC Addiscombe West 23 Sep 22 12.44pm
Originally posted by Henry of Peckham You can be sure of that ... the BoE has some long serving ex Treasury personnel at the helm. I suspect 'Chucky' has merely guaranteed the next government will be Labour who will reverse the tax 'give aways' and have to add more to pay for the increased tax shortfall. Deutsche have a rosy outlook. Yesterday I was thinking rates might level at 4-5% and drop back to settle around 2-3 in the next few years. Perhaps not. To the moon! “It is extremely unusual for a developed market currency to weaken at the same time as yields are rising sharply.” he says. “We worry that investor confidence in the UK’s external sustainability is being eroded fast. And the only thing that can prevent the pound from weakening is a very aggressive Bank of England hiking cycle.” The BOE “should not be concerned about calibrating its inflation projection but regaining market confidence, fast,” he continues. That’s a pretty extraordinary conclusion about a developed market economy. Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 23 Sep 22 12.44pm

Originally posted by Henry of Peckham

Deutsche have a rosy outlook. Yesterday I was thinking rates might level at 4-5% and drop back to settle around 2-3 in the next few years. Perhaps not. To the moon!

“It is extremely unusual for a developed market currency to weaken at the same time as yields are rising sharply.” he says. “We worry that investor confidence in the UK’s external sustainability is being eroded fast. And the only thing that can prevent the pound from weakening is a very aggressive Bank of England hiking cycle.”

The BOE “should not be concerned about calibrating its inflation projection but regaining market confidence, fast,” he continues. That’s a pretty extraordinary conclusion about a developed market economy.

Did you know? 98.0000001% of people are morons.

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HKOwen Hong Kong 23 Sep 22 12.48pm
Originally posted by SW19 CPFC If she wins a general election I may have to increase my general populous moron percentage to an unprecedented 98% Are you in the 98% or 2%? The electorate are stupid was Corbynista thing. RLB bemoaned that the 2019 manifesto was not understood by traditional Labour voters or similar, that was the attitude that lost them the election. Anyway, hindsight is wonderful. Responsibility Deficit Disorder is a medical condition. Symptoms include inability to be corrected when wrong, false sense of superiority, desire to share personal info no else cares about, general hubris. It's a medical issue rather than pure arrogance.
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HKOwen

Hong Kong 23 Sep 22 12.48pm

Originally posted by SW19 CPFC

If she wins a general election I may have to increase my general populous moron percentage to an unprecedented 98%

Are you in the 98% or 2%?

The electorate are stupid was Corbynista thing. RLB bemoaned that the 2019 manifesto was not understood by traditional Labour voters or similar, that was the attitude that lost them the election.
Anyway, hindsight is wonderful.

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SW19 CPFC Addiscombe West 23 Sep 22 12.58pm
Originally posted by HKOwen Are you in the 98% or 2%? The electorate are stupid was Corbynista thing. RLB bemoaned that the 2019 manifesto was not understood by traditional Labour voters or similar, that was the attitude that lost them the election. Anyway, hindsight is wonderful. It's not reached 98% yet. It has however just gone up to 95.1% You can be intelligent and still be a moron. Moronic behaviour is not limited to the stupid Besides, the majority of the populous aren't stupid. They are either poorly educated thanks to the delightful state system or unable to spend time analysing and learning to make more informed choices as they're too busy having to work 2+ jobs to try and deal with an ever increasing inequality gap which is fast approaching one of the worst in the developed world. Edited by SW19 CPFC (23 Sep 2022 12.58pm) Did you know? 98.0000001% of people are morons.
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SW19 CPFC

Addiscombe West 23 Sep 22 12.58pm

Originally posted by HKOwen

Are you in the 98% or 2%?

It's not reached 98% yet. It has however just gone up to 95.1%

You can be intelligent and still be a moron. Moronic behaviour is not limited to the stupid

Besides, the majority of the populous aren't stupid. They are either poorly educated thanks to the delightful state system or unable to spend time analysing and learning to make more informed choices as they're too busy having to work 2+ jobs to try and deal with an ever increasing inequality gap which is fast approaching one of the worst in the developed world.

Edited by SW19 CPFC (23 Sep 2022 12.58pm)

Did you know? 98.0000001% of people are morons.

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steeleye20 Croydon 23 Sep 22 2.25pm
Today much more than a mini-budget. A comprehensive demolition of the Conservative government's record in office of the past 12 years, made by themselves. An admission of failure. But not guilt, they just change the faces yet again and trot out another hackneyed version of their failed policies once more. How does 'levelling-up' look now?
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steeleye20

Croydon 23 Sep 22 2.25pm

Today much more than a mini-budget.

A comprehensive demolition of the Conservative government's record in office of the past 12 years, made by themselves.

An admission of failure.

But not guilt, they just change the faces yet again and trot out another hackneyed version of their failed policies once more.

How does 'levelling-up' look now?