Crashing the economy

[Colgates_shaving_foam]

All fiat currencies go to zero.

The weaker ones first then the stronger ones. It's inevitable.
It can take years, it can take decades, but they all do.
Eventually they all enter a death spiral that they can't recover from.

Then empires fall.

Fiat Currency Graveyard: A History of Monetary Folly - Gini Foundation

Economic & Healthcare Security | Decentralized, Sustainable & Equitable Monetary & Governance System | Fast Cryptocurrency | Transaction Privacy | Real-World Commerce | Protect Human Rights

ginifoundation.org

Dear me chicken licken.

Someone woke up on the wrong side of the bed!

 

[Juninhoburger]

All fiat currencies go to zero.

The weaker ones first then the stronger ones. It's inevitable.
It can take years, it can take decades, but they all do.
Eventually they all enter a death spiral that they can't recover from.

Then empires fall.

Fiat Currency Graveyard: A History of Monetary Folly - Gini Foundation

Economic & Healthcare Security | Decentralized, Sustainable & Equitable Monetary & Governance System | Fast Cryptocurrency | Transaction Privacy | Real-World Commerce | Protect Human Rights

ginifoundation.org

The Sun is going to run out of hydrogen in about 5 billion years, should we worry about that too?

Or blame the current government?

 

[Lottowyn]

I hate talking politics

But can someone please just tell this stupid woman with her complete lack of self awareness and zero empathy to f u c k off?

I’m about £150 a month worse off thanks to her. Which is a lot to a single bloke like me.

Liz Truss legal threat to Starmer over claim she crashed economy

No 10 insists millions of people share Sir Keir's view of the Truss government's economic record.

www.bbc.co.uk

Only £150. We were at least £600 worse off immediately she opened her mouth. I wonder if she has grandparents?

Sooner we get rid of Sir Kier and get Andy Burnham in the better.

 

[gravy173]

easy answer to that, they would rather take the incompetent lunatic over the little brown fella.

That's a lazy argument tbh Billy and doesn't ring true given they have just voted for a little brown woman in an open field if you want to talk in those terms.

 

[Liamo]

All fiat currencies go to zero.

The weaker ones first then the stronger ones. It's inevitable.
It can take years, it can take decades, but they all do.
Eventually they all enter a death spiral that they can't recover from.

Then empires fall.

Fiat Currency Graveyard: A History of Monetary Folly - Gini Foundation

Economic & Healthcare Security | Decentralized, Sustainable & Equitable Monetary & Governance System | Fast Cryptocurrency | Transaction Privacy | Real-World Commerce | Protect Human Rights

ginifoundation.org

I think it's abundantly clear what direction that linked article is trying to steer people towards.

Only a well-designed cryptocurrency is resistant to fiat currency inflation [...] which is why we have launched the Gini Foundation. Gini is for humans who simply want a stable currency to escape fiat prison.

 

[JackG]

All fiat currencies go to zero.

The weaker ones first then the stronger ones. It's inevitable.
It can take years, it can take decades, but they all do.
Eventually they all enter a death spiral that they can't recover from.

Then empires fall.

Fiat Currency Graveyard: A History of Monetary Folly - Gini Foundation

Economic & Healthcare Security | Decentralized, Sustainable & Equitable Monetary & Governance System | Fast Cryptocurrency | Transaction Privacy | Real-World Commerce | Protect Human Rights

ginifoundation.org

Cryptocurrencies by death year

 

[Aet290204]

So anyway. Shall we get back to discussing this stupid cease and desist letter and Truss's complete lack of empathy....? No thought not.

 

[TeessideCleveland]

So anyway. Shall we get back to discussing this stupid cease and desist letter and Truss's complete lack of empathy....? No thought not.

She really is abhorrent
Caused misery for so many people and doesn’t give a toss

 

[Juninhoburger]

So anyway. Shall we get back to discussing this stupid cease and desist letter and Truss's complete lack of empathy....? No thought not.

What's to discuss? It's a pathetic and meaningless letter

 

[NYboro]

Obviously SLAPP. The sooner that's legislated for, the better.

 

[Billyzin]

Truss and Kwarteng.
The economy crashing double act.
Their budget was lauded by Farage.

 

[FabioPorkpie]

You aren’t paying higher mortgage payments because of Liz Truss, if that’s what you are referring to.

Errrrmmmm… please explain.

 

[Muttley]

Empathy = Weakness (or possibly wokeness, which is far far worse)

 

[Nano]

Errrrmmmm… please explain.

In fairness to Truss, interest rates were forecasted to increase, her budget accelerated the time it took to get there but it was heading there anyway. They haven't come down significantly since she left either. If you look globally we've been on trend with the rest of the World (and it's mostly led by the $ anyway). Inflation was rising globally because of external factors. She just managed the handling of them terribly.

She isn't to blame for high interest rates and high inflation, they were going to happen anyway, she attempted to avoid a crash by slamming her foot on the accelerator instead of the brake.

 

[Frozen Horse]

Truss is and always has been an utter clown, I have no idea how the Tory membership could have ever thought she would be a sane option, the party's veer to the right much in the same way labour veered to the left under Corbyn and reflects the global trend. I cant see Badenoch making the changes required tbh as she is cut from the same cloth

I tend to agree about KB.

Interestingly, truss was never ahead of Sunak in the polling of MPs, but wiped the floor with him in the poll of party members (57.4%).
Sunak was elected unopposed, but YouGov polling of party members showed 32% wanted Johnson back as leader, compared to 23% backing Sunak.

I think large swathes of the Tory Party membership wanted and believed in what Truss's budget (The Mail loved it). As such, they've sacrificed the Tory reputation for "being good with money" for the next 20 years.

 

[Subbuteo_171]

The country is ****ed, years of Tory rule have seen to that.

Unfortunately there are too many people who bizarrely think the systematic destruction of services can be reversed in 3 months, when in actual fact it is likely to take 3 generations.

Additionally the amount of posts I see across social media about Labour, the PM, the Cabinet and responses to the multitude of issues the country is facing where reference is factually incorrect, and in some cases bordering on downright racism is utterly frightening. The more this **** gets peddled the more chance it morphs into fact, and we know who is behind it.

in itself the cease and desist letter to me seems a vain attempt by an incompetent politician to remain relevant, timed with the ongoing concerted push to discredit Starmer and the Goverment.

 

[RedAsABeetroot]

Only £150. We were at least £600 worse off immediately she opened her mouth. I wonder if she has grandparents?

When we get rid of Sir Kier and get Andy Burnham in the better.

I have a sneaking suspicion that Andy Burnham has too much sense to contemplate being PM.

 

[theboydom]

Increased employers national insurance contributions forcing up costs.

Giving inflation busting pay rises to public sector workers that were no doubt justified, but were definitely the wrong place and the wrong time.

Created Uncertainty in an economy that was barely functioning as it was, strangling any hope of growth and investment

Borrowing yet more money to fund ridiculous civil projects focused once again in the South whilst pulling investment where it was needed in the North.

That Budget in October was wrong... it was clear to everyone the damage it would do yet Labour took the gamble. The gamble has failed and the Economy is tanking. best case scenario is we get a mild recession for this half of this year.

worse case scenario is that the markets smell blood like they are currently doing and force the debt gilds interest up, crash the markets and the currency.

If they do this we wont recover for years, Interest rates hit 1980s levels, taxes up to unprecedented levels, mass unemployment, mass repossessions etc, etc

"Giving inflation busting pay rises to public sector workers that were no doubt justified, but were definitely the wrong place and the wrong time."

So when do the people who know what they're doing with the economy think is the right time to keep wages in line with the cost of living? Asking for a manager who needs some new Scrooge lines to trot out to his staff. "We would love to give you a pay rise but we can't because..."

And 'the people who know what they're doing with the economy' plainly didn't include any Chancellor from Osborne onwards

 

[speckyget]

The Sun is going to run out of hydrogen in about 5 billion years, should we worry about that too?

That's one for the cockroaches to fret about.

 

[SmallTown]

You aren’t paying higher mortgage payments because of Liz Truss, if that’s what you are referring to.

You are