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Do you want to discuss boring politics? (14 Viewers)

  • Thread starter mrtrench
  • Start date Jun 14, 2020
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Moff

Well-Known Member
  • Sep 26, 2022
  • #21,176
PVA said:
They will lose the next election but the problem is Labour will have to raise taxes and will not be able to fix this horrific mess in 4 years so everyone will be saying they can't be trusted on the economy and so we can look forward to another 12 years of the 'responsible' tories.
Click to expand...

That’s why I hope people will have long memories…..surely it will take a long time for people to forget what Boris and Truss and the rest of them have done.
 

Sky Blue Pete

Well-Known Member
  • Sep 26, 2022
  • #21,177
Moff said:
That’s why I hope people will have long memories…..surely it will take a long time for people to forget what Boris and Truss and the rest of them have done.
Click to expand...
Have friends who are very happy about keeping more of their money
 
P

PVA

Well-Known Member
  • Sep 26, 2022
  • #21,178
Moff said:
That’s why I hope people will have long memories…..surely it will take a long time for people to forget what Boris and Truss and the rest of them have done.
Click to expand...

You'd like to think so.

But for many it's about the here and now.

In 4 years time the country will still be struggling and Labour will have raised taxes.

People will be struggling to pay the bills still and the Tories will simply say 'look how much Labour have raised taxes. We will cut them'. And that's all it'll need for people to switch back
 
Reactions: Sky_Blue_Dreamer and Sky Blue Pete

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,179
Sky Blue Pete said:
When?
Make some claims
inflation will top out at what % and when
Interest rates same question

Put your money where your intelligence suggests
Click to expand...

Interest rates may climb to 7% (mortgage rates) but people also moan that housing is beyond first time buyers - that will be a good bit of levelling up of property values
 

Sky Blue Pete

Well-Known Member
  • Sep 26, 2022
  • #21,180
Grendel said:
Interest rates may climb to 7% (mortgage rates) but people also moan that housing is beyond first time buyers - that will be a good bit of levelling up of property values
Click to expand...
What makes you think it will be short lived? And limited?
 

skybluetony176

Well-Known Member
  • Sep 26, 2022
  • #21,181
Grendel said:
Interest rates may climb to 7% (mortgage rates) but people also moan that housing is beyond first time buyers - that will be a good bit of levelling up of property values
Click to expand...
That’s levelling down you moron not levelling up.
 
Reactions: stupot07

skybluetony176

Well-Known Member
  • Sep 26, 2022
  • #21,182
Sky Blue Pete said:
What makes you think it will be short lived? And limited?
Click to expand...
I think he’s still living of the glory of being right about us holding all the cards in brexit negotiations.


No, wait. He was completely wrong on that one too.
 
Reactions: chohan, stupot07, Deleted member 9744 and 1 other person

David O'Day

Well-Known Member
  • Sep 26, 2022
  • #21,183
skybluetony176 said:
That’s levelling down you moron not levelling up.
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He's an economically illiterate clown, his big post brexit idea was that we should devalue the pound and well guess we are and it's as shit an idea as we told him it was.

It's also already been pointed out that the historical rates of interest are not good touching points as currently the repayment to wages ratio is much worse now meaning that the affordability levels are much much worse now and this means even lower interest rates will be devastating to ordinary working people.

This is before you take into account the skyrocketing gilts rates which makes borrowing much, much more expensive.
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,184
David O'Day said:
He's an economically illiterate clown, his big post brexit idea was that we should devalue the pound and well guess we are and it's as shit an idea as we told him it was.

It's also already been pointed out that the historical rates of interest are not good touching points as currently the repayment to wages ratio is much worse now meaning that the affordability levels are much much worse now and this means even lower interest rates will be devastating to ordinary working people.

This is before you take into account the skyrocketing gilts rates which makes borrowing much, much more expensive.
Click to expand...

Is your mortgage going up David?
 

stupot07

Well-Known Member
  • Sep 26, 2022
  • #21,185
skybluetony176 said:
That’s levelling down you moron not levelling up.
Click to expand...
Race to the bottom.

Sent from my SM-G965F using Tapatalk
 
B

Brighton Sky Blue

Well-Known Member
  • Sep 26, 2022
  • #21,186
Remember when we were told Commie Corbyn would wreak havoc on the economy and would take us back to the 70s?
 

Sky_Blue_Dreamer

Well-Known Member
  • Sep 26, 2022
  • #21,187
Moff said:
That’s why I hope people will have long memories…..surely it will take a long time for people to forget what Boris and Truss and the rest of them have done.
Click to expand...
They will though. Memories only seem to exist for what left wing parties have done. Labour still linked to 1970's. Lib Dems to the coalition. With the Tories shit that happened five minutes ago is forgotten because we've got to 'move on'.

Even as things are I wouldn't feel confident in saying the Tories would lose. Yet if it were Labour that has caused this they wouldn't be in power for a generation.

If the Tories did lose, it'd be blaming Labour for not having fixed the car crash yet and are putting up taxes, and how we'd be be some much better off under the Tories who know how to run an economy.

I've just accepted the fact we're fucked.
 
Reactions: Moff and chiefdave

RegTheDonk

Well-Known Member
  • Sep 26, 2022
  • #21,188
Lad and his wife just put an offer in on their first house. Shame they didn't get their fingers out a few months ago. Crystal ball time but they've been offered a 10 year fixed about 2% more than a 5 year deal. Is it worth them doing this? That currently works out about an extra £150 a month, but they're worried about it sky rocketing in the coming months/years.
 
P

PVA

Well-Known Member
  • Sep 26, 2022
  • #21,189
Brighton Sky Blue said:
Remember when we were told Commie Corbyn would wreak havoc on the economy and would take us back to the 70s?
Click to expand...



Grendel said:
A tanked pound and a interest rate rise is what we would get if Corbyn ever took office. The finance industry will start to devalue like no tomorrow.
Click to expand...



 
Reactions: Ian1779 and Brighton Sky Blue

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,190
Brighton Sky Blue said:
Remember when we were told Commie Corbyn would wreak havoc on the economy and would take us back to the 70s?
Click to expand...

I don’t think the IMF are knocking on the door yet
 
B

Brighton Sky Blue

Well-Known Member
  • Sep 26, 2022
  • #21,191
Grendel said:
I don’t think the IMF are knocking on the door yet
Click to expand...

Even during the worst phases of the 70s the dollar never threatened to gain parity with the pound. It's a monumental economic failure in almost record time
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,192
Brighton Sky Blue said:
Even during the worst phases of the 70s the dollar never threatened to gain parity with the pound. It's a monumental economic failure in almost record time
Click to expand...

Doesn’t feel like it from where I’m sitting
 
Reactions: SIR ERNIE
B

Brighton Sky Blue

Well-Known Member
  • Sep 26, 2022
  • #21,193
Grendel said:
Doesn’t feel like it from where I’m sitting
Click to expand...
Pound to sink below dollar after UK's mini-Budget, US experts predict, as analysts warn of 'currency crisis' (inews.co.uk)
 

SIR ERNIE

Well-Known Member
  • Sep 26, 2022
  • #21,194
Grendel said:
Doesn’t feel like it from where I’m sitting
Click to expand...

Me neither, loving the USD/GBP rate.
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,195
Brighton Sky Blue said:
Pound to sink below dollar after UK's mini-Budget, US experts predict, as analysts warn of 'currency crisis' (inews.co.uk)
Click to expand...

So the pound versus the dollar is of greater interest to you than interest rates

I’m genuinely surprised
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,196
SIR ERNIE said:
Me neither, loving the USD/GBP rate.
Click to expand...

Net exporter?
 
Reactions: SIR ERNIE
B

Brighton Sky Blue

Well-Known Member
  • Sep 26, 2022
  • #21,197
Grendel said:
So the pound versus the dollar is of greater interest to you than interest rates

I’m genuinely surprised
Click to expand...

We have a fixed rate mortgage so it doesn't affect us. But I do feel for those who will be hit by this-people are capable of caring about more than one thing at the same time.
 
D

Deleted member 5849

Guest
  • Sep 26, 2022
  • #21,198
At l
Grendel said:
I remember in the ERM when interest rates were escalating every hour getting to 16% in the end

This is tame. It will stabilise soon enough
Click to expand...
My concern is a bit like 2008. The problem then wasn't the banks as such - they were a problem, but not insurmountable. The problem was everyone queuing up to take their money out exacerbated the issues already at hand.
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,199
Brighton Sky Blue said:
We have a fixed rate mortgage so it doesn't affect us. But I do feel for those who will be hit by this-people are capable of caring about more than one thing at the same time.
Click to expand...

How does the pound vs dollar impact you owesimslky
 

David O'Day

Well-Known Member
  • Sep 26, 2022
  • #21,200
Grendel said:
How does the pound vs dollar impact you owesimslky
Click to expand...

Because it will push up supply chain prices which lead to higher goods prices and inflation. The BoE will need to raise rates again which makes current mortgages even more unaffordable to people.

It's been explained to you manty times.
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,201
David O'Day said:
Because it will push up supply chain prices which lead to higher goods prices and inflation. The BoE will need to raise rates again which makes current mortgages even more unaffordable to people.

It's been explained to you manty times.
Click to expand...

do you have a mortgage David?
 

robbiekeane

Well-Known Member
  • Sep 26, 2022
  • #21,202
Deleted member 5849 said:
Practical question. Interest rates going up, and we currently have the mortgage in place to buy a property. But, surely, prices will go down as interest rates go up?

So... better to sit tight as we are, or bail? A new mortgage would mean paying more for the same amount, but surely, *surely* house prices will dip at least a little?!?
Click to expand...
Personally I would lock that shit in but that’s just me. Any fall in house price value (which I personally, and only my opinion, is overstated and will be short lived - yes higher rates make it more expensive to borrow money but fundamentally demand for houses is still growing as the population grows) will be more than paid for by compound interest over 5-10 years.

Are you planning on moving again any time soon? If so that might change things but I’d not, that would be my advice.

To put some numbers behind it - an incremental/additional 2% interest on a £100,000 loan would cost £22,000 over a ten year period. So the question on my mind would be do I think the value of that property will drop by 22% over the next ten years…my thinking is no.


But what the fuck do I know - I rated Ruben Lameiras
 

David O'Day

Well-Known Member
  • Sep 26, 2022
  • #21,203
It's basic GCSE level economics and I would of thought someone with such a successful pretend career in marketing would be all over this stuff.
 

skybluetony176

Well-Known Member
  • Sep 26, 2022
  • #21,204
David O'Day said:
Because it will push up supply chain prices which lead to higher goods prices and inflation. The BoE will need to raise rates again which makes current mortgages even more unaffordable to people.

It's been explained to you manty times.
Click to expand...
His only line of defence is to pretend to be stupid.
 

David O'Day

Well-Known Member
  • Sep 26, 2022
  • #21,205
skybluetony176 said:
His only line of defence is to pretend to be stupid.
Click to expand...
He's not pretending
 
Reactions: skybluetony176
B

Brighton Sky Blue

Well-Known Member
  • Sep 26, 2022
  • #21,206
Grendel said:
How does the pound vs dollar impact you owesimslky
Click to expand...

How does a weak pound affect the country?
 

skybluetony176

Well-Known Member
  • Sep 26, 2022
  • #21,207
Grendel said:
I don’t think the IMF are knocking on the door yet
Click to expand...
Rishi Sunak has predicted that they will be by November. So far he’s been 100% right about Truss’ economic plans. You could be heading to another we hold all the cards moment.
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,208
Brighton Sky Blue said:
How does a weak pound affect the country?
Click to expand...

I thought we were talking about personal positions here? I was saying that if you had a mortgage in 1975 under the Wilson government when rates were at 22% you may have been whining about it more than the Sterling vs pound issue? No?
 

Grendel

Well-Known Member
  • Sep 26, 2022
  • #21,209
David O'Day said:
He's not pretending
Click to expand...

I think you rent Dave
 
B

Brighton Sky Blue

Well-Known Member
  • Sep 26, 2022
  • #21,210
Grendel said:
I thought we were talking about personal positions here? I was saying that if you had a mortgage in 1975 under the Wilson government when rates were at 22% you may have been whining about it more than the Sterling vs pound issue? No?
Click to expand...

Were we? I thought you predicted Corbyn would cause rising interest rates and a weak pound?
 
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