bickster Posted February 5, 2023 Moderator Share Posted February 5, 2023 Also in the Torygraph today, apparently (Not read it just seen chatter about it), the 1922 Ctte are considering a rule change to allow a window for VONCs after a round of local elections Link to comment Share on other sites More sharing options...
Davkaus Posted February 5, 2023 Share Posted February 5, 2023 11 minutes ago, Genie said: The quote from her that the public and media were economically unfamiliar and sentiment had shifted leftward and the headline that she was brought down by left-wing economic establishment are not vastly different to me anyway. What does "economic establishment" mean to you? Because to me, it's the IMF, BoE, fund managers, the treasury...Nothing to do with the whims of public opinion. Link to comment Share on other sites More sharing options...
LondonLax Posted February 5, 2023 Share Posted February 5, 2023 (edited) 5 minutes ago, Davkaus said: What does "economic establishment" mean to you? Because to me, it's the IMF, BoE, fund managers, the treasury...Nothing to do with the whims of public opinion. The most generous interpretation I could think of was that it is referring to the part about government bureaucrats in her essay. It’s obviously a headline written to drive clicks. Edited February 5, 2023 by LondonLax Link to comment Share on other sites More sharing options...
ml1dch Posted February 5, 2023 Share Posted February 5, 2023 (edited) 16 minutes ago, bickster said: Also in the Torygraph today, apparently (Not read it just seen chatter about it), the 1922 Ctte are considering a rule change to allow a window for VONCs after a round of local elections Yes please. I can't imagine anything better to soundtrack the summer than the bloodletting of, say Johnson vs. Badenoch vs. Mourdaunt for eight weeks. Edited February 5, 2023 by ml1dch 1 Link to comment Share on other sites More sharing options...
Genie Posted February 5, 2023 Share Posted February 5, 2023 25 minutes ago, LondonLax said: The most generous interpretation I could think of was that it is referring to the part about government bureaucrats in her essay. It’s obviously a headline written to drive clicks. Maybe it’s crossed wires then because my original post which you objected to mentioned her blaming “the left” which she does in her essay. Whether the headline is an accurate alignment to her essay is another topic. 2 hours ago, Genie said: It’s always some vague non-specific group I.e. “the left”. Ok Liz, who SPECIFICALLY ruined your amazing plan? Link to comment Share on other sites More sharing options...
mjmooney Posted February 5, 2023 VT Supporter Share Posted February 5, 2023 57 minutes ago, Davkaus said: public sentiment has shifted left wards She's right. It has. And with very good reason. 2 Link to comment Share on other sites More sharing options...
LondonLax Posted February 5, 2023 Share Posted February 5, 2023 (edited) 12 minutes ago, Genie said: Maybe it’s crossed wires then because my original post which you objected to mentioned her blaming “the left” which she does in her essay. Whether the headline is an accurate alignment to her essay is another topic. It seemed like a question you had asked before actually reading the article because she does go into a lot of detail over her grevances and she mostly blames other groups rather than ‘the left’, but that seems to be the one thing the headline has taken from it. Edited February 5, 2023 by LondonLax Link to comment Share on other sites More sharing options...
bickster Posted February 5, 2023 Moderator Share Posted February 5, 2023 From Truss' nonsense in the Torygraph Quote However, brewing in the background there was an issue relating to pension funds, which neither of us had been made aware of – a problem that would ultimately bring my premiership to an abrupt and premature end because of the panic it induced. At no point during any of the preparations for the mini-Budget had any concerns about liability-driven investments (LDIs) and the risk they posed to bond markets been mentioned at all to me, the chancellor or any of our teams by officials at the Treasury. But then, late on the Sunday night, came the jitters from the Asian markets as they opened. I was alerted to this on the Monday morning, at which point the Bank of England governor was wanting to make a statement on LDIs. Readers will not be surprised that, given their impact on events, since leaving office I have spent some time looking into LDIs. I was shocked by what I discovered. In the early 2000s, pension funds were heavily underfunded. To increase their returns, they used LDIs – which use bond derivatives – freeing up cash for the pension funds to invest in other assets. This works when markets are calm but becomes problematic when the price of government bonds falls within a short timeframe. As LDIs entered the financial mainstream, with The Pensions Regulator seemingly encouraging their uptake, warnings started to be issued on the risks they could pose to financial markets – all unbeknownst to me at the time. Astonishingly, it turns out that the value of total assets in LDI strategies is equivalent to around 60 per cent of the UK’s GDP. Hilarious. Don't ever forget that She, Kwarteng, Patel, Raab and Skidmore wrote Britannia Unchained which was published in 2012 and everything she did was based on that. Hands up who thinks she's have completely ignored any advice she was given anyway? Me for sure I gave up reading a short while after that because the blaming of others was just nauseating and calling her plan a return to "traditional Tory Values" just as irritating This Tory Government, under any leader its had, is the most right wing economic Tory Govt in my lifetime and apparently it's spent to much being like Labour She's as off her chump today as she was in number 10, thinks she was right all along. Add to that the hilarity of claiming no one told her about the LDIs but that she really shouldn't have had to wait for the OBRs report kind of sums up why she always was a f***ing idiot 4 Link to comment Share on other sites More sharing options...
ml1dch Posted February 5, 2023 Share Posted February 5, 2023 (edited) 12 minutes ago, bickster said: Add to that the hilarity of claiming no one told her about the LDIs but that she really shouldn't have had to wait for the OBRs report kind of sums up why she always was a f***ing idiot Also a reminder that literally the first thing that she did was fire the Permanent Secretary to the Treasury, who had been in the department for thirty years. Fine, if you actually do want to clear out all that boring, stuffy orthodoxy. Not so fine if you then find yourself crying about more experienced people not telling you stuff that you wish you'd known. Edited February 5, 2023 by ml1dch 2 Link to comment Share on other sites More sharing options...
Genie Posted February 5, 2023 Share Posted February 5, 2023 You have to also remember that during her record 49 days in job, 2-3 weeks of that were downtime because of the Queens death Link to comment Share on other sites More sharing options...
Genie Posted February 5, 2023 Share Posted February 5, 2023 53 minutes ago, bickster said: From Truss' nonsense in the Torygraph Hilarious. Don't ever forget that She, Kwarteng, Patel, Raab and Skidmore wrote Britannia Unchained which was published in 2012 and everything she did was based on that. Hands up who thinks she's have completely ignored any advice she was given anyway? Me for sure I gave up reading a short while after that because the blaming of others was just nauseating and calling her plan a return to "traditional Tory Values" just as irritating This Tory Government, under any leader its had, is the most right wing economic Tory Govt in my lifetime and apparently it's spent to much being like Labour She's as off her chump today as she was in number 10, thinks she was right all along. Add to that the hilarity of claiming no one told her about the LDIs but that she really shouldn't have had to wait for the OBRs report kind of sums up why she always was a f***ing idiot Heaven forbid she appoints a chancellor who knows what he’s doing… it’s someone else’s fault for not giving him a crash course in economics. Link to comment Share on other sites More sharing options...
Follyfoot Posted February 5, 2023 VT Supporter Share Posted February 5, 2023 6 minutes ago, Genie said: You have to also remember that during her record 49 days in job, 2-3 weeks of that were downtime because of the Queens death Great tits tho 2 Link to comment Share on other sites More sharing options...
Popular Post chrisp65 Posted February 5, 2023 Popular Post Share Posted February 5, 2023 2 3 Link to comment Share on other sites More sharing options...
bickster Posted February 5, 2023 Moderator Share Posted February 5, 2023 24 minutes ago, Genie said: Heaven forbid she appoints a chancellor who knows what he’s doing… it’s someone else’s fault for not giving him a crash course in economics. The Chancellor was her co-author in the Britannia Unchained bollocks. This was no ordinary appointment, they were co-conspirators. The whole premise of her sacking Kwarteng was ludicrous. This was no Chancellor gone rogue, not a Chancellor she was relying on to do the economics whilst she concentrated on the big picture. This was the two of them. Enacting their joint fantasy. If she had any honour she’d have sacked him and resigned at the same time. 3 Link to comment Share on other sites More sharing options...
bickster Posted February 5, 2023 Moderator Share Posted February 5, 2023 34 minutes ago, Genie said: You have to also remember that during her record 49 days in job, 2-3 weeks of that were downtime because of the Queens death She could t even learn to genuflect in front of the monarch in that time Link to comment Share on other sites More sharing options...
Straggler Posted February 5, 2023 Share Posted February 5, 2023 2 1 Link to comment Share on other sites More sharing options...
bickster Posted February 5, 2023 Moderator Share Posted February 5, 2023 49 minutes ago, Straggler said: That whole thread and other tweets he’s sen on the same subject are well worthy of a read. Link to comment Share on other sites More sharing options...
Lichfield Dean Posted February 6, 2023 VT Supporter Share Posted February 6, 2023 No idea how valid this is, it seems a bit unbelievable to me, but... Link to comment Share on other sites More sharing options...
bickster Posted February 6, 2023 Moderator Share Posted February 6, 2023 19 minutes ago, Lichfield Dean said: No idea how valid this is, it seems a bit unbelievable to me, but... Seems a bit predictable to me. Link to comment Share on other sites More sharing options...
Davkaus Posted February 6, 2023 Share Posted February 6, 2023 30 minutes ago, Lichfield Dean said: No idea how valid this is, it seems a bit unbelievable to me, but... It was written in October, and was very much an assessment of Liz Truss's government, so it's more accurate to say "Liz Truss's government was the most far right [major] party in the [developed] world. As you'd expect from someone with political hashtags in their username, they've come at it with a heavy slant and no real desire to reflect the real facts reflected in the article. 1 1 Link to comment Share on other sites More sharing options...
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