Is it a plot or a few people realising at much the same time that this is a good time to make money. They care nothing about your money issues just their own and it's happened before
You claimed they are "deliberately crashing the economy" as opposed to just making money.
I agree they are just making money, and not "deliberately crashing the economy"
The reason they are doing this is because of the deranged mini budget, which as per Gauke, was a fantasy, driven by delusional beliefs.
Blaming money markets for their reaction is like blaming flies for the buzzing noise in your lounge after choosing to defecate on the carpet.
They are or at least could be considered to be making money by deliberately crashing the economy or if you prefere crashing the economy to deliberately make money. There are other variations but you will I'm sure catch my point
I get your point, and disagree fundamentally with it.
Market traders are not the ones crashing the economy. The crash is rather the inevitable result of a delusional ideology driving the government.
If anything, the market reaction is stopping this idiocy in its tracks and thereby helping the economy.
You claimed they are "deliberately crashing the economy" as opposed to just making money.
I agree they are just making money, and not "deliberately crashing the economy"
The reason they are doing this is because of the deranged mini budget, which as per Gauke, was a fantasy, driven by delusional beliefs.
Blaming money markets for their reaction is like blaming flies for the buzzing noise in your lounge after choosing to defecate on the carpet.
They are or at least could be considered to be making money by deliberately crashing the economy or if you prefere crashing the economy to deliberately make money. There are other variations but you will I'm sure catch my point
I get your point, and disagree fundamentally with it.
Market traders are not the ones crashing the economy. The crash is rather the inevitable result of a delusional ideology driving the government.
If anything, the market reaction is stopping this idiocy in its tracks and thereby helping the economy.
They most certainly have that power over govenments to choose their own financial or indeed any policy. They could put Russia out of action in hours if they wanted that they don't points to them having more interest in wealth than morals
Market trading is like a casino where they are the house and they can change the odds at any moment. If the pound rises they make money if the pound falls they make more money. If they see any sign of weakness they exploit it for their own good to the detriment of millions
roubaixtuesday wrote: ↑28 Sep 2022, 3:15pm
You claimed they are "deliberately crashing the economy" as opposed to just making money.
I agree they are just making money, and not "deliberately crashing the economy"
The reason they are doing this is because of the deranged mini budget, which as per Gauke, was a fantasy, driven by delusional beliefs.
Blaming money markets for their reaction is like blaming flies for the buzzing noise in your lounge after choosing to defecate on the carpet.
They are or at least could be considered to be making money by deliberately crashing the economy or if you prefere crashing the economy to deliberately make money. There are other variations but you will I'm sure catch my point
I get your point, and disagree fundamentally with it.
Market traders are not the ones crashing the economy. The crash is rather the inevitable result of a delusional ideology driving the government.
If anything, the market reaction is stopping this idiocy in its tracks and thereby helping the economy.
The particular actions that caused these particular effects were clearly those taken by the UK government.
(This is not in any way an endorsement of the current financial systems or a suggestion that all other financial disasters have the same immediate cause as this one.)
jois wrote: ↑28 Sep 2022, 3:18pm
They are or at least could be considered to be making money by deliberately crashing the economy or if you prefere crashing the economy to deliberately make money. There are other variations but you will I'm sure catch my point
I get your point, and disagree fundamentally with it.
Market traders are not the ones crashing the economy. The crash is rather the inevitable result of a delusional ideology driving the government.
If anything, the market reaction is stopping this idiocy in its tracks and thereby helping the economy.
They most certainly have that power over govenments to choose their own financial or indeed any policy. They could put Russia out of action in hours if they wanted that they don't points to them having more interest in wealth than morals
Market trading is like a casino where they are the house and they can change the odds at any moment. If the pound rises they make money if the pound falls they make more money. If they see any sign of weakness they exploit it for their own good to the detriment of millions
Nonsense. You're trying to anthropomorphise the emergent properties of a market. It's meaningless.
Russia is in business because there are buyers for it's fossil fuels. Nothing to do with market behaviour.
Again, the difficulties of the UK are nothing whatever to do with morals, other than of the government themselves, who have brought this upon us through the immoral imposition of a delusional ideology without care for the consequences on those vulnerable to it. That's the moral lesson.
I get your point, and disagree fundamentally with it.
Market traders are not the ones crashing the economy. The crash is rather the inevitable result of a delusional ideology driving the government.
If anything, the market reaction is stopping this idiocy in its tracks and thereby helping the economy.
They most certainly have that power over govenments to choose their own financial or indeed any policy. They could put Russia out of action in hours if they wanted that they don't points to them having more interest in wealth than morals
Market trading is like a casino where they are the house and they can change the odds at any moment. If the pound rises they make money if the pound falls they make more money. If they see any sign of weakness they exploit it for their own good to the detriment of millions
Nonsense. You're trying to anthropomorphise the emergent properties of a market. It's meaningless.
Russia is in business because there are buyers for it's fossil fuels. Nothing to do with market behaviour.
Again, the difficulties of the UK are nothing whatever to do with morals, other than of the government themselves, who have brought this upon us through the immoral imposition of a delusional ideology without care for the consequences on those vulnerable to it. That's the moral lesson.
They can calapse their currency, which has remained quite high during the invasion, if they wished, you know what that means, sky high interest rates and raging inflation and wheel barrows full of cash to buy a loaf of bread, that's been done before as well,
They most certainly have that power over govenments to choose their own financial or indeed any policy. They could put Russia out of action in hours if they wanted that they don't points to them having more interest in wealth than morals
Market trading is like a casino where they are the house and they can change the odds at any moment. If the pound rises they make money if the pound falls they make more money. If they see any sign of weakness they exploit it for their own good to the detriment of millions
Nonsense. You're trying to anthropomorphise the emergent properties of a market. It's meaningless.
Russia is in business because there are buyers for it's fossil fuels. Nothing to do with market behaviour.
Again, the difficulties of the UK are nothing whatever to do with morals, other than of the government themselves, who have brought this upon us through the immoral imposition of a delusional ideology without care for the consequences on those vulnerable to it. That's the moral lesson.
They can calapse their currency, which has remained quite high during the invasion, if they wished, you know what that means, sky high interest rates and raging inflation and wheel barrows full of cash to buy a loaf of bread, that's been done before as well,
More nonsense.
How would "they" decide to collapse the currency? What exactly would be the steps involved?
[Footnote for the economically literate: the Russian currency is underpinned by fossil fuel revenues]
Nonsense. You're trying to anthropomorphise the emergent properties of a market. It's meaningless.
Russia is in business because there are buyers for it's fossil fuels. Nothing to do with market behaviour.
Again, the difficulties of the UK are nothing whatever to do with morals, other than of the government themselves, who have brought this upon us through the immoral imposition of a delusional ideology without care for the consequences on those vulnerable to it. That's the moral lesson.
They can calapse their currency, which has remained quite high during the invasion, if they wished, you know what that means, sky high interest rates and raging inflation and wheel barrows full of cash to buy a loaf of bread, that's been done before as well,
More nonsense.
How would "they" decide to collapse the currency? What exactly would be the steps involved?
[Footnote for the economically literate: the Russian currency is underpinned by fossil fuel revenues]
It just need a few of the large institutions to decided that's what they are doing. It really only needs one to start selling curancy at well below its market value and the trade in that currency goes through the floor.
They and by that I mean wall Street took a dislike to Imperial russia calapsed the currency , millions starved whilst funding the Communists revolution, they are not above forcing regime change if they want or see a profit in it
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
Most of the rest of the policy is taking things back to levels at or very close to just before Covid, I believe. If VAT had been temporarily suspended instead, I wonder if this would be being seen as a good set of policies?
Biospace wrote: ↑28 Sep 2022, 5:01pm
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
...
I think that there would have been very similar effects on exchange rates, markets, "confidence" etc.
But that the subsequent political vulnerability would have been different.
Biospace wrote: ↑28 Sep 2022, 5:01pm
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
Most of the rest of the policy is taking things back to levels at or very close to just before Covid, I believe. If VAT had been temporarily suspended instead, I wonder if this would be being seen as a good set of policies?
Tax cuts for those at or around 38k don't seem the main moral issue in play, it hardly big earners by the scheme of things. I'm sure they don't think they are particularly well off
Because of the pyramidic nature of our society, as the wage rises the number of people in that band drops off quite at quite a steep rate, it all seems to be about a very few people paying less tax than others think they should.
The extremely rich pay next to no tax anyway by various accountancy tricks
Biospace wrote: ↑28 Sep 2022, 5:01pm
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
...
I think that there would have been very similar effects on exchange rates, markets, "confidence" etc.
But that the subsequent political vulnerability would have been different.
Jonathan
Do you not imagine a similar reaction by the markets have led to a similar political vulnerabillity? Whatever, this will go down in political history as one of/the shortest ever 'honeymoon' period for a political leader, a lesson to all who follow.
Biospace wrote: ↑28 Sep 2022, 5:01pm
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
...
I think that there would have been very similar effects on exchange rates, markets, "confidence" etc.
But that the subsequent political vulnerability would have been different.
Do you not imagine a similar reaction by the markets have led to a similar political vulnerabillity? Whatever, this will go down in political history as one of/the shortest ever 'honeymoon' period for a political leader, a lesson to all who follow.
I expect the change to the higher tax rate to be an easily grasped stick with which to beat sitting Conservative MPs. And the views and actions of sitting Conservative MPs to be the immediate agent for sacking the Chancellor or submitting letters of no confidence in the party leader.
Biospace wrote: ↑28 Sep 2022, 5:01pm
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
Most of the rest of the policy is taking things back to levels at or very close to just before Covid, I believe. If VAT had been temporarily suspended instead, I wonder if this would be being seen as a good set of policies?
The mess is a combination of two things:
(1) Spending at a level unsustainable by revenues
(2) Totally incoherent overall package and no credible way to address (1)
The highest tax band piece of itself is irrelevant to market reaction, but it is so politically bonkers that it adds to (2) somewhat.
British economic policy is now so chaotic, inconsistent and frankly cretinous that our assets are worth less - no less than Nobel laureates refer to uk as having what's being referred to as a "moron risk premium".
Biospace wrote: ↑28 Sep 2022, 5:01pm
Would this mess have had the legs it now has if there'd been no tax cut for those earning over £38k or whatever it is?
Most of the rest of the policy is taking things back to levels at or very close to just before Covid, I believe. If VAT had been temporarily suspended instead, I wonder if this would be being seen as a good set of policies?
The mess is a combination of two things:
(1) Spending at a level unsustainable by revenues
(2) Totally incoherent overall package and no credible way to address (1)
The highest tax band piece of itself is irrelevant to market reaction, but it is so politically bonkers that it adds to (2) somewhat.
British economic policy is now so chaotic, inconsistent and frankly cretinous that our assets are worth less - no less than Nobel laureates refer to uk as having what's being referred to as a "moron risk premium".
