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Started By
Message
The UK is getting radical
Posted on 9/23/22 at 1:18 pm
Posted on 9/23/22 at 1:18 pm
They've got a new Prime Minister, Liz Truss, and along with raising rates, the plan is for big tax cuts and full on supply side economics. Trussonomics is the new Reaganonomics.
The UK left is of course slamming it as a morally indefensible declaration of class war and a gift to the rich that will not stimulate growth like advertised but it's a long overdue idea.
I'm a firm believer that tax cuts and decreased regulation under the Reagan administration were the reason for massive period of economic growth that lasted until the tech bubble burst in 2000 even though Reagan himself was a fricking clown of a President.
Sorry: posted in wrong forum.
Anyway, it may be a good idea to look towards the London Stock Exchange.
The UK left is of course slamming it as a morally indefensible declaration of class war and a gift to the rich that will not stimulate growth like advertised but it's a long overdue idea.
I'm a firm believer that tax cuts and decreased regulation under the Reagan administration were the reason for massive period of economic growth that lasted until the tech bubble burst in 2000 even though Reagan himself was a fricking clown of a President.
Sorry: posted in wrong forum.
Anyway, it may be a good idea to look towards the London Stock Exchange.
This post was edited on 9/23/22 at 1:19 pm
7
Posted on 9/23/22 at 1:46 pm to Diseasefreeforall
Their bond market is about to implode - I'd wait to dip my toes in for now
Posted on 9/23/22 at 1:53 pm to TigerTatorTots
quote:
James Lavish
@jameslavish
·
2h
Everyone keeping an eye on UK debt?
UK CDS spreads have doubled in the last month.??
quote:
Preston Pysh
@PrestonPysh
UK Bond Yield Curve. ??
quote:
Holger Zschaepitz
@Schuldensuehner
·
7h
UK’s biggest tax cuts since 1972 trigger crash in bonds. 5y GILT yields jump >50bps, biggest daily jump on record.
Posted on 9/23/22 at 2:18 pm to Diseasefreeforall
Tax hikes are a short term solution which usually results in government increasing its spending to match the extra revenues. Tax cuts are a long term solution which usually results in government continuing its normal spending growth.
The problem is that no matter which they do, they have to cut spending and pay down debt.
While they aren't nearly as bad as we are, they still need to cut their spending if they're wanting to pay down their debt to strengthen the Pound.
The problem is that no matter which they do, they have to cut spending and pay down debt.
While they aren't nearly as bad as we are, they still need to cut their spending if they're wanting to pay down their debt to strengthen the Pound.
Posted on 9/23/22 at 2:22 pm to Diseasefreeforall
The UK and the rest of Europe is fricked
Posted on 9/23/22 at 3:14 pm to Triple Bogey
It's fun to sit back and watch
Posted on 9/23/22 at 5:16 pm to GEAUXT
Govts dont cut spending. And this shite continues on until the govt itself is replaced. Then starts over
Posted on 9/23/22 at 5:31 pm to Diseasefreeforall
There's a line of thought that the next election is accepted as being lost to labour so the torques have decided to slash tax so when they lose labour will hike everything and labour will rank in the polls for 2028. I'm not sure i trust anybody in politics to be thinking that long term however.
Was very happy with the wording about the labour market though.
Was very happy with the wording about the labour market though.
Posted on 9/23/22 at 7:52 pm to Diseasefreeforall
Reagan was a clown of a president?? Yeah, ok dude.
Posted on 9/23/22 at 8:59 pm to Diseasefreeforall
Only clown is you jagoff.
Posted on 9/23/22 at 9:37 pm to Diseasefreeforall
Where Liz Truss is really departing from conservative fiscal policy is the plan to subsidize people's power bills.
Might help avert a crisis this winter but if/since they have a systemic shortage of fuel, then they are only kicking the can down the road.
Seems like she is making a big bet that reversing the fracking ban and opening up leases will pay off before the next winter?
Might help avert a crisis this winter but if/since they have a systemic shortage of fuel, then they are only kicking the can down the road.
Seems like she is making a big bet that reversing the fracking ban and opening up leases will pay off before the next winter?
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