It's all falling apart alarmingly fast for Boris Johnson across the water. How long you reckon he has left as British Prime Minister? Hours surely?
How many parties are they talking about now? I've lost count.
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Wow it’s in absolute free fall now. 88 year low apparently but I can’t verify that. Currently at 1.03 with dollar now. Absolute FREEFALL
The Italian election might let a bit of further air out of the euro this week but nothing like the assault that sterling will come under.
We're at 1.05 just two hours after Tokyo opening. I'm going to bed, but fully expect a Bank of England emergency rate hike early tommorow.
If anyone is in London at the moment, take a Boris bike to Whitehall to see if the lights are on in the Treasury building and report back to us.
….
Shocking really. Seeing 1.04 as a low on Google's graph.
If you can get odds on Truss, being the shortest serving Prime Minister, pile on, she has to beat Alec Douglas-Home's record of 1 year and 1 day.
I'd put her period of office in terms of months, if that, the Conservatives are going to implode.
Tomorrow is going to be a bloodbath, economically.
Jesus, the pound is useless right now!
Please do not put actual money on this prediction.
I think that they should in a significant way and put their money where their mouth is, and provide some evidence that they are doing so here.
No point proclaiming that this is all a great plan and that they are a true believer if they don't.
There won't be a peep out of them while the pound is in freefall but they'll be back once things inevitably stabilise when some real action is taken and when the US likely declares recession and Truss is fudging the numbers to avoid doing so in the UK, we might see an uptick in the pound's fortune and this, we'll be told, is evidence of the pound rallying back.
Or they'll just ignore the matter entirely whenever it is brought up again.
Can't see her lasting 6 months, a lot of conservative MP's will be seeing thier seats disappear from beneath them. I'm expecting a VONC in Truss before Xmas but that leaves the door open for Johnson to snake his way back in which is also disastrous.
Unless the UK gets a GE soon we can expect to see more of the same from Truss, Kwarteng et al as they make even more idiotic decisions to enrich thier friends.
I’d not be surprised to see a full point hike in interest rates today. With more tocome. Which will enrage Truss. Going to hit the property market hard. What an absolute shitshow
Per CNBC, record low, $1.0382.
Already rumours that Kwarteng is thinking about taking away the BOE independence.
If I were one of these unprincipled creatures, this'd be perfect. Truss eats the blame for this looming disaster and then Johnson or someone similar challenges her. They still face disaster at the next election and that won't change. Somehow they're still on 30% which doesn't surprise me.
Labour are at least pledging to reverse the absurd tax cuts and hopefully, they'll embrace PR. We desperately need a democratic system here.
Is more than a rumour. Truss said explicitly in the leadership contest that was under consideration. Once the BoE starts working directly against Kwarteng it will become a talking point for sure. I don’t think it will happen…..Britain and sterling would enter third world territory in the financial markets
So, the UK will be a banana... constitutional monarchy? Picked a bad week for a trip to the EU. Also need to renew the old passport.
Jesus, I'd say we're beyond satire but I've already said that too many times.
So much racism from so many Brexiter Tories and this is where we are.
Is Truss being hung out to dry here by advisors or is she really that bad?
The only interesting Euro Sterling race is which one tanks more against the dollar and which one has a debt crisis first.
Both are actually frightening in the severity of their challenges.
He sounds like a Communist and you are taking a radical free market position on it but pretending it is anti racism.
Yes and yes, although she is probably worse. She is yet another principle less power hungry Tory politician who through luck and playing the game had reached the pinnacle but she has no talent for the job at hand and is hamstrung by incompetents on all sides around her.
She was always going to hung out to dry.
The government of the UK always seemed to be a fairly stable at managing there economy but since the Brexit referendum they seem to have lost all their common sense. Its mad watching it.
There was an interview with her Oxford professor during the leadership contest. He talked about how smart she was. Highly intelligent and capable. One of the top students. But her weakness was her stubbornness…..once she had made her mind up on an idea she would not change it, even if all the evidence was that it was wrong. Instead she would double down over and over.
Id rather have a less intelligent PM who listens and adapts, than a highly intelligent PM with an absolute belief that they’re right. The latter sounds very dangerous and I fear that’s what we have
once she had made her mind up on an idea she would not change it, even if all the evidence was that it was wrong. Instead she would double down over and over.
Her stance on Brexit proves this is clearly wrong
And on the monarchy. And on cannabis. And on the political party she's a member of!
It may be doubling down over and over until an incoherent u-turn.
Only in politics is a "U-turn" considered a bad thing.
When the evidence changes, you change your mind. Only a complete dogmatist continues to believe something they very probably know is false.
If someone changes their mind due to the evidence, that's a good thing not a bad thing.
Unfortunately these days, changing your mind means the media goes into overdrive about "U-turns" and silly things like that.
The best political leaders are not the most intelligent, driven or ideological. They are the ones who have clear ideas of what needs to be done but are willing to change depending on the circumstances and who have very capable and expert lieutenants (ministers, secretaries, call em what you will). They let the better people deal with the detail and themselves hold it all together pragmatically.
I can't think of one senior or well known Tory who fits this description and Truss is the opposite of this type. The Tories and the UK are in deep trouble and nobody over there has a real clue how to fix their mess (or is afraid to publicly say what needs doing because of Brexit). Truss is toast and probably before the next general election. They don't have anyone better however, just more of the same to replace her
The irony...
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