2022 mini-budget discussion

[iamtheoneneo]

The old adage that there's no such thing as a free lunch came to my mind a LONG time ago.

and yet the government are happy giving valuable tax money back to those richest in society.
Doesn't really make sense by your logic does it?

 

[Chris Wilson]

and yet the government are happy giving valuable tax money back to those richest in society.
Doesn't really make sense by your logic does it?

What logic is that, which you are assuming?

 

[iamtheoneneo]

What logic is that, which you are assuming?

Going to answer the question?

 

[Slam62]

I am speechless, a basic admission that they have no control is all I can think of, they know they have to put rates up and quickly but to do so would wipe a lot of their chums out. Buying bonds will just make the whole thing a lot lot worse.

 

[Chris Wilson]

Going to answer the question?

Without understanding what logical process you are assuming I am attempting to go by, any question about it is impossible to answer.

 

[chroniclard]

Ah, are we onto blaming covid and ukraine for gov **** ups?

 

[Azza]

wow!

https://twitter.com/x/status/1575128310740389889

 

[delta0]

wow!

https://twitter.com/x/status/1575128310740389889

I also heard this was happening which is why they stepped in.

 

[StriderX]

Lol of course it's the pensions what made them react.

 

[Stretch]

So how many hours until we get a new chancellor?

Over the last ~7 years we have had 6 chancellors, epic.

It could be sunak again to keep the numbers down.

 

[Mrwong]

I also heard this was happening which is why they stepped in.

I was expecting a market hardship by Friday.

 

[Slam62]

Always vigilant don't panic!

 

[arknor]

Ah, are we onto blaming covid and ukraine for gov **** ups?

All Putins fault, he probably shorted the pound and spread misinformation and fake news with his army of bots

 

[iamtheoneneo]

wow!

https://twitter.com/x/status/1575128310740389889

That is actually shocking.
Holy **** this has to stop.

 

[dl8860]

wow!

https://twitter.com/x/status/1575128310740389889

This is potentially so dire. If people start to cash out their pensions to try and keep them safe, it's full on meltdown time.

We need the mother of all U-turns from Kwarteng and Truss this afternoon.

 

[StriderX]

Surely pension funds will just abandon investing in the country instead?

 

[chrismscotland]

Come on who does Ed Conway think he is with announcements like that? Robert Peston?

 

[delta0]

This is potentially so dire. If people start to cash out their pensions to try and keep them safe, it's full on meltdown time.

We need the mother of all U-turns from Kwarteng and Truss this afternoon.

A lot of pension funds are pretty safe but some are vulnerable. Checking the credit rating of your fund is probably wise.

 

[Uther]

That has to be a resigning matter.

 

[dl8860]

A lot of pension funds are pretty safe but some are vulnerable. Checking the credit rating of your fund is probably wise.

Yeah but it's public perception isn't it. I don't mean the pensions themselves going insolvent, I mean people cashing out manually.

Northern Rock may have been safe at the time, but if people who hold a stake in it are led to believe otherwise, then all bets are off.