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peanut-
Feb 17, 2004
Fun Shoe
https://twitter.com/Haggis_UK/status/1565298102524846080?s=20&t=EErDaMWLOyLYGS29lrcslw

People are mad at him for this but to be fair I descaled my kettle last week and it cut the time it takes to boil way down.

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peanut-
Feb 17, 2004
Fun Shoe
https://twitter.com/jackbern23/status/1567841031864852486

Looking forward to seeing how many Twitter users can end their careers/find themselves in jail in the couple of weeks after it happens

peanut-
Feb 17, 2004
Fun Shoe
Every single thing you do this afternoon now loaded with the possibility of being the ultimate "where were you when..." moment.

peanut-
Feb 17, 2004
Fun Shoe
Weirdest outcome at this point would be the BBC actually has no inside line and is going all in on this even though she's still alive and clings on for months yet.

Like, at 7pm do they just go "whoops soz" and put The One Show on?

peanut-
Feb 17, 2004
Fun Shoe

Arsenic Lupin posted:

Speaking of which....

(Guardian article on the plans for the Queen's death, if you're playing the home game.) https://www.theguardian.com/uk-news/2017/mar/16/what-happens-when-queen-elizabeth-dies-london-bridge

The slick plan outlined in this article actually appears to be the BBC doing an endless broadcast of some gates in the rain and going "something might happen we think... dunno though"

peanut-
Feb 17, 2004
Fun Shoe
Killing swans in a very legally ambiguous place right now

peanut-
Feb 17, 2004
Fun Shoe

keep punching joe posted:

God imagine Boris doing this statement and peppering it with classics references and jokey tangents.

He’s fuming he missed the chance for a Churchill leading the country through its grief moment by 2 days

peanut-
Feb 17, 2004
Fun Shoe
Insanely Tory faces.

peanut-
Feb 17, 2004
Fun Shoe

keep punching joe posted:

Remembering when 9/11 happened and people demanded Peter Jackson rename the middle LOTR movie.

That was a goon bit

peanut-
Feb 17, 2004
Fun Shoe
My gym has cut its opening hours on Monday to 6am till 4pm as getting jacked in the evening specifically would be insensitive.

peanut-
Feb 17, 2004
Fun Shoe

frankenbeans posted:

I'm going up to London at the weekend for an event on Saturday night that I've been looking forward to for months. I'm super glad I booked my hotel a couple of months ago. It's going to be loving grim. At least I won't be there for Monday when everything just freezes in time for a couple of hours.

Wouldn’t worry about this tbh. Unless you’re hanging around by the giga-queue for some reason, chances are you won’t even notice anything unusual is happening.

peanut-
Feb 17, 2004
Fun Shoe
Is there an actual big book of royal protocol somewhere that goes into stuff like who is meant to stand guard round the coffin? Or is it just being made up as they go along?

peanut-
Feb 17, 2004
Fun Shoe
I'm convinced that at least 80% of the queue is journalists.

peanut-
Feb 17, 2004
Fun Shoe
Not sharing any genes with the royal family is certainly helped Harry be a bit more normal

peanut-
Feb 17, 2004
Fun Shoe

Mebh posted:

Its gotta be intentional right? They're knackering the pound as all their assets are measured in dollars?

Nah, it tanked yesterday because the Fed raised interest rates. Every currency that can't match the Fed's rises will stay in the toilet for the foreseeable. The Euro plunged yesterday too.

peanut-
Feb 17, 2004
Fun Shoe
This is wild.

Cutting the bankers bonus limit and the 45% income tax rate for earnings over £150k is particularly strong.

peanut-
Feb 17, 2004
Fun Shoe
VAT-free shopping was a thing for non-EU visitors until the end of 2020 iirc

I guess they're gonna bring it back and probably allow EU visitors to do it too?

peanut-
Feb 17, 2004
Fun Shoe
If you read it as they've accepted losing the next election I guess this is smart. Do a bunch of wildly unpopular poo poo that you really want to do, and leave the next government with zero options other than massive tax increases.

peanut-
Feb 17, 2004
Fun Shoe

sebzilla posted:

Definitely. Labour *have to* go into the next election saying they'll raise taxes now, and you'll get idiots on QT getting red and mad about how they're not well off and shouldn't be taxed more for earning £100k because their mate earns £120k.

On the other hand the 45% cut is a bit of a gift. Labour can go full bore on reinstating that for income over £150k with essentially no downside.

Even the relatively tiny number of people who earn over that level tend to be committed budget deficit carers.

peanut-
Feb 17, 2004
Fun Shoe
Pretty astonishing

peanut-
Feb 17, 2004
Fun Shoe

Halisnacks posted:

^^ edit: Why does it take going to the absolute brink for mainstream voices to realise we are run by a Doomsday cult, this was evident since at least 2019, if not 2015/2016.

Is there any precedent for the BoE intervening immediately after the Government/Treasury has done something exceedingly stupid? (Excluding the EU referendum, which I assume the BoE contingency planned for and hence were ready to go.)

It's pretty unlikely, GBP seems to have recovered all of this morning's losses against USD and EUR already. Running out with panicked, unscheduled interest rate changes would just make the UK look more like an emerging market.

Explicit signalling that they will raise interest rates significantly at the next scheduled meeting is probably what will happen.

peanut-
Feb 17, 2004
Fun Shoe
It's yet another damning indictment of Jeremy Corbyn

peanut-
Feb 17, 2004
Fun Shoe
Yes the way the actually square this circle is going to be aggressive spending cuts.

peanut-
Feb 17, 2004
Fun Shoe

TACD posted:

When’s the last time they tried to blame things on “the last Labour government”? Whatever happened to the classics?

That's beyond the pale now, the new line is that the turmoil is actually the fault of the next Labour government.

https://twitter.com/andrew_lilico/status/1574533074360025088?s=20&t=ypGasjKoUN7hVXpKtTpAvg

peanut-
Feb 17, 2004
Fun Shoe
Really can't be overstated how little Labour is doing to win anyone over, and that the massive poll lead is much more precarious than you'd assume

https://twitter.com/chriscurtis94/status/1574687760690032642?s=20&t=rJG6nTLZTK1RxpzRHLj9mQ

How many Tory -> don't know switchers will just vote Tory? I'd bet most.

peanut-
Feb 17, 2004
Fun Shoe
Nationwide's new fixed mortgage rates, these are all circa 2-2.5% higher than they were on Friday with no base rate increase.



The Tories have a lot of history for completely changing what they've always believed, but an overnight pivot into crashing the British housing market is wild.

peanut-
Feb 17, 2004
Fun Shoe

Rustybear posted:

10y being cheaper than 2y is some weird inverted curve signal, a sign that they think this is temporary or that they just dont want the business/have appetite for the risk rn?

I dunno exactly how mortgages are priced, but it reflects the SONIA swap rate - the 10 year rate is currently a big chunk lower than the 2 year rate. The market doesn't think the UK has the economic strength to sustain higher interest rates beyond a few years I guess.

peanut- fucked around with this message at 15:18 on Sep 27, 2022

peanut-
Feb 17, 2004
Fun Shoe
Get hype for austerity 2.0

https://twitter.com/benrileysmith/status/1574849111748214784?s=20

peanut-
Feb 17, 2004
Fun Shoe

Scientastic posted:

Waking up this morning to IMF concerns that Truss and Kwarteng have hosed up the UK economy so badly it might cause a global economic slowdown is just amazing. Not content with trickling down piss on the British, they are now going to make the lives of billions of people worse, just by being Tories.

Even though I enjoy experts round the world telling our government that they're morons, a bunch of Americans saying that the UK is threatening to cause global economic slowdown while the Fed tanks the world with interest rate rises is a bit laughable.

The UK could enter total voluntary liquidation tomorrow and it would cause less global disruption than a half point rise in the Fed rate.

peanut-
Feb 17, 2004
Fun Shoe

smellmycheese posted:

Right Wing nut jobs really going all in on “this is all the fault of a hypothetical future Labour government”.

Tremendous stuff

https://twitter.com/LordAshcroft/status/1575048712921157633?s=20

peanut-
Feb 17, 2004
Fun Shoe

quote:

This repricing has become more significant in the past day — and it is particularly affecting long-dated UK government debt. Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability. This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy.

Reads as close as the Bank will ever come to calling the government irresponsible dickheads

peanut-
Feb 17, 2004
Fun Shoe
fwiw the focus is on the UK because of some uniquely stupid stuff we decided to do, but the size of the meltdown is driven by the almost-as-large meltdown happening in everything that isn't USD

https://twitter.com/lisaabramowicz1/status/1575062948938063872

peanut-
Feb 17, 2004
Fun Shoe

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”?

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?

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

peanut-
Feb 17, 2004
Fun Shoe

Answers Me posted:

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]

The irony is that the IMF and financial markets really want the UK to spend more on healthcare. Other than energy prices, the most pressing productivity blocker and economic drag in the UK is post-covid NHS waiting lists and the huge number of people that can't work due to illness or injury.

We're like a reverse Greece in that the people in charge are absolutely desperate to dismantle the state and the international financiers want to stop them doing it.

peanut-
Feb 17, 2004
Fun Shoe
She's definitely a sicko

https://twitter.com/mcgregormt/status/1575178265974951936?s=20

peanut-
Feb 17, 2004
Fun Shoe

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

peanut-
Feb 17, 2004
Fun Shoe
Might explain why they thought the local radio car crash was a good plan

https://twitter.com/APHClarkson/status/1575404800434372610?s=20

peanut-
Feb 17, 2004
Fun Shoe
Finally someone who will really hold Truss to account

https://twitter.com/RobBurl/status/1575447842210168833?s=20

peanut-
Feb 17, 2004
Fun Shoe

Darth Walrus posted:

The point is more that they illustrated how much massaging has to happen within the Westminster bubble to make her seem even vaguely functional in interviews, and how fast she falls apart without it.

I don't think they ever did that much massaging, she always came across as an idiot in interviews before and that was the impression the country had of her already.

No-one has actually been duped, she in power because the voters were a tiny pool of the country's absolute biggest freaks. Not even Tory MPs wanted her in charge.

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peanut-
Feb 17, 2004
Fun Shoe
Reckon what will actually happen from this is the tax cuts will stay but the stuff Tory voters don’t like they were meant to buy (planning reform) will get junked immediately.

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