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Bacon Terrorist posted:In reality rather than making houses more affordable wont it smash anyone who bought at market rates in the last few years leaving them in negative equity? So the house prices will be more affordable but the economy will poo poo it guts out as loads of people default on debts and interest rates spiral, making mortgages harder to get. I would assume that starmer or whoever will fob out a pile of cash to help the precious homeowners.
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Sep 28, 2022 19:57
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forkboy84 posted:You can disagree with his world view, & I do, but Kwasi Kwarteng is an economic PhD from Cambridge, he knows full well what he's doing. OP, the last thing to assume about a PhD economist is that she/he knows anything about the actual economy.
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Sep 28, 2022 20:05
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Kwasi Kwarteng’s PhD is in economic history, not economics, he focused on the political implications of recoinage in the 17th century, it gives him absolutely zero authority to act as if he knows anything about anything Edit: and of course, his undergraduate is in classics
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Sep 28, 2022 20:08
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Scientastic posted:Kwasi Kwarteng’s PhD is in economic history, not economics, he focused on the political implications of recoinage in the 17th century, it gives him absolutely zero authority to act as if he knows anything about anything Ah, so you're saying he's merely an average chancellor. Fair enough, but I still think they knew fine well that the consequences were going to be a market panic leading at the massive deficit rise & then followed by "oh well, I guess we have to do huge public spending cuts to restore market confidence". These people haven't exactly hidden their ideology, their fanatical devotion to the market.
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Sep 28, 2022 20:10
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No, some people do actually believe their own nonsense. And trickle down economics still has its defenders, even after all these years.
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Sep 28, 2022 20:16
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The markets aren’t stupid either - even if you think Kwarteng is doing this out of trying to sell off assets rather than deeply held beliefs, the market response is showing that people who will seek to make money out of situations think the plan is nonsense and not worth putting capital into the UK for. So he’s an idiot either way and we’re all suffering because of it. And just lol at the idea that an economics PhD wouldn’t be a true believer in a dubious economic model.
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Sep 28, 2022 20:39
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“Hey guys I’m gonna try to loot more money now that everyone is about to be in the most desperate situation in decades and there’s already mass strikes and civil unrest, want to come over? And there’s now no pretence about who the money goes to just to put fuel on that fire. Btw I’m also probably about to cut the police further.” Yeah what a surprise that nobody wants to keep capital in that.
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Sep 28, 2022 20:42
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Hobo posted:And just lol at the idea that an economics PhD wouldn’t be a true believer in a dubious economic model. Yeah economics, like any other thing that people study, is inherently political and is taught in a biased framing.
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Sep 28, 2022 20:45
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I'd make an exception for maths but Statistics is right behind me giggling.
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Sep 28, 2022 20:47
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HAHA house prices falling 20%? I haven't even finished my house, I'll only finish it 80% and lose no money. Laughing all the way to the bank.
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Sep 28, 2022 20:47
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Hobo posted:“Hey guys I’m gonna try to loot more money now that everyone is about to be in the most desperate situation in decades and there’s already mass strikes and civil unrest, want to come over? And there’s now no pretence about who the money goes to just to put fuel on that fire. Btw I’m also probably about to cut the police further.” https://twitter.com/SamCoatesSky/status/1575203918573080576 Sounds like things are going just great
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Sep 28, 2022 20:47
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Danger - Octopus! posted:https://twitter.com/SamCoatesSky/status/1575203918573080576 Zero shots ring out in the Lizlerbunker.
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Sep 28, 2022 20:52
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Quite consistent with the covid response honestly.
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Sep 28, 2022 21:03
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Hobo posted:And just lol at the idea that an economics PhD wouldn’t be a true believer in a dubious economic model. Definitely a thing I said. Because I am entirely unaware of Austrian economics & the Chicago School freaks & the horrifying damage they wrecked in Chile. 
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Sep 28, 2022 21:07
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https://twitter.com/PippaCrerar/status/1575209082234892288
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Sep 28, 2022 21:16
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what number is alan partridge in the running order?
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Sep 28, 2022 21:18
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Sep 28, 2022 21:25
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Houses will be "more affordable" in that the purchase price is lower, but the interest rates will be so much higher that to get a mortgage, you'll have to be earning even more for the same house than before.
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Sep 28, 2022 21:28
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This should be pretty funny because Truss clearly thinks these will be podunk nowhere journalists bowled over by getting to talk to the PM, when it's even odds that they're decent journalists frozen out of the london clique whose rear end-kissing she apparently considers insufficient.
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Sep 28, 2022 21:29
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 josh04 posted:This should be pretty funny because Truss clearly thinks these will be podunk nowhere journalists bowled over by getting to talk to the PM, when it's even odds that they're decent journalists frozen out of the london clique whose rear end-kissing she apparently considers insufficient. Over here in Look East the journos are infinitely better than the London freaks.
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Sep 28, 2022 21:32
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lmao https://twitter.com/da_dick/status/1575198392161951744 https://www.youtube.com/watch?v=VCtVMzPRy14
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Sep 28, 2022 21:35
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She's tweeted..... about Ukraine. https://twitter.com/trussliz/status/1575182604021956608
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Sep 28, 2022 21:35
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WhatEvil posted:Houses will be "more affordable" in that the purchase price is lower, but the interest rates will be so much higher that to get a mortgage, you'll have to be earning even more for the same house than before. 
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Sep 28, 2022 21:38
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That's a brave use of 'fail' on the end there. I half read it as 'fall' and for a horrible moment thought she was going for the distraction and threatening to put boots into Russia. Operation Babushka Freedom.
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Sep 28, 2022 21:39
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what if conservatives, but too much
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Sep 28, 2022 21:39
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forkboy84 posted:Like I've been saying. Economics is pseudoscience and having a PhD in it is like having a PhD in astrology. The man is unhinged and needs to be sectioned.
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Sep 28, 2022 21:47
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Economics has some value, some of the models can be helpful to understand some of the forces that impact markets and customers, but it cannot be emphasised enough that despite everyone saying he is, Kwasi Kwarteng actually is not an economist and does not have a PhD in economics.
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Sep 28, 2022 21:55
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Who are these journos she's talking about, and why haven't we seen them before?
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Sep 28, 2022 21:56
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kingturnip posted:Who are these journos she's talking about, and why haven't we seen them before? She said "best in the business". We've already seen them.
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Sep 28, 2022 22:01
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kingturnip posted:Who are these journos she's talking about, and why haven't we seen them before? andrew neil and laura k in a series of wigs and glasses with novelty noses and mustaches
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Sep 28, 2022 22:05
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https://twitter.com/scottygb/status/1575209631949148160 what a random-rear end collection of places. or are these where the tories have marginals
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Sep 28, 2022 22:10
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0808 NORFOLK I loving told you she's local and probably had the wrong opinions on pedestrianisation
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Sep 28, 2022 22:12
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Tees is probably what you might call a marginal, boro south went tory in 2015 and went more tory over the following years losing redcar too, but has historically been quite heavily labour, still some holdouts in the town center, I think andy mcdonald is still in his seat, corbyn's shadow transport sec.
OwlFancier fucked around with this message at 22:15 on Sep 28, 2022 |
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Sep 28, 2022 22:13
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NotJustANumber99 posted:I haven't even finished my house, I'll only finish it 80% and lose no money. Laughing all the way to the bank. Looking forward to the new I-shaped architecture
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Sep 28, 2022 22:26
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piano chimp posted:Economics is pseudoscience and having a PhD in it is like having a PhD in astrology. The man is unhinged and needs to be sectioned. Oh my god, I swear I reread my original post and the point I was making still seems easy to follow but apparently it isn't. I'm not arguing that we should listen to him because he's an economist, or that he's not a psycho driven by a demented ideology. Coz he blatantly is. That shouldn't need to be said in UKMT. I'm saying that with his background Kwarteng knows what he's doing. This is bad. This is worse than him being a moron. He's also a moron like every free market fundamentalist, but this particular choice is ideology driven rather than an accident. He wants to crush the state & public expenditure & now he's given himself an excuse to do it. And conveniently his former hedge fund boss was able to make a killing in the process. Weird & convenient coincidence I he just blundered into getting the result that lines up with his demented world view.
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Sep 28, 2022 22:27
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Angepain posted:https://twitter.com/scottygb/status/1575209631949148160
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Sep 28, 2022 22:30
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NotJustANumber99 posted:0808 NORFOLK She probably feeds beefburgers to swans
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Sep 28, 2022 22:32
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Guavanaut posted:lmao That looks like a natural trumpet, among the flexiest instruments
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Sep 28, 2022 22:33
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Bobby Deluxe posted:Taking bets this is where the freeports will be announced. Putting a port in Nottingham and Stoke would be a very Truss move
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Sep 28, 2022 22:34
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Liz Truss actually visited my workplace a few months ago, I was on holiday but they kept it really hush hush because it was a bit of a shitshow unsurprisingly. NHS supplier, British manufacturing, and they couldn't even get a paragraph of good press about it. Bet she didn't even hide in one of our ample fridges.
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