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(CNBC)   Bank of England forced to step in to prevent collapse of bond market. Keep Calm, and Buy Bonds   (cnbc.com) divider line
    More: Scary, Bank of England, Monetary policy, planned start of its gilt, market chaos, United Kingdom, Interest rate, Central bank, U.K. Treasury spokesperson  
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528 clicks; posted to Business » on 28 Sep 2022 at 11:20 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



15 Comments     (+0 »)
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2022-09-28 10:19:45 AM  
Liz Truss doing an amazing job so far.
 
2022-09-28 10:25:44 AM  

OdradekRex: Liz Truss doing an amazing job so far.


It's almost like she's purposely trying to destroy shiat.
 
2022-09-28 10:28:37 AM  
Sounds like it's time for more tax cuts for millionaires. Then cut social programs, because "now, we have to!" Also give the EU one more middle finger for good measure. That should fix everything, right conservatives?
 
2022-09-28 11:21:40 AM  
"Bonds. Double-A Bonds."
 
2022-09-28 11:40:45 AM  
BOJ intervened to cap yields.
BOE intervening to prevent pension collapse.
ECB intervening between German and Italian bonds.
When Jerome, when? Yields already falling on the BOE news. Good luck with that inflation fight.

/I love the smell of MMT failing in the morning
 
2022-09-28 11:48:24 AM  
i.gifer.comView Full Size
 
2022-09-28 12:07:03 PM  

AsparagusFTW: BOJ intervened to cap yields.
BOE intervening to prevent pension collapse.
ECB intervening between German and Italian bonds.
When Jerome, when? Yields already falling on the BOE news. Good luck with that inflation fight.

/I love the smell of MMT failing in the morning


And that intervention is why fiat currencies / central banks are superior to the alternative, which is just the system collapsing.

And if the response is "Oh, but governments won't do <incredibly stupid things> if they know there's no safety net"... then I have to ask "Have you met humans?"
 
2022-09-28 12:22:08 PM  
Is it possible that Truss's government is damaging the British government on purpose in order to put it in a position where it would be forced to sell and effectively privatize government assets?

I'm just wondering if this is intentional self-sabotage with the endgame being a country where a significantly weakened central government has ceded power to private interests.
 
2022-09-28 12:44:15 PM  

Coredatum: Is it possible that Truss's government is damaging the British government on purpose in order to put it in a position where it would be forced to sell and effectively privatize government assets?

I'm just wondering if this is intentional self-sabotage with the endgame being a country where a significantly weakened central government has ceded power to private interests.


Seeing as businesses (especially in healthcare) have been slavering to take over many of the agencies that provide nationalized services, you can bet your ass that this is a given.

Mainly due to the fact that much like the Republicans in the US, the Tories are only thinking about how they can enrich themselves while screwing over the rest of the nation.
 
2022-09-28 12:59:35 PM  
AurizenDarkstar:

Seeing as businesses (especially in healthcare) have been slavering to take over many of the agencies that provide nationalized services, you can bet your ass that this is a given.

Mainly due to the fact that much like the Republicans in the US, the Tories are only thinking about how they can enrich themselves while screwing over the rest of the nation.


I think I saw a photo of her with Steve Bannon, which got me thinking of the possibility that this is all about destroying the government from within so that everything can be replaced with a libertarian fever dream.
 
2022-09-28 1:32:37 PM  
I had these corporate reboots of franchises. "Thatcher" was a middling drama in the 80s. Nobody is craving a sequel.
 
2022-09-28 1:42:01 PM  

AurizenDarkstar: Coredatum: Is it possible that Truss's government is damaging the British government on purpose in order to put it in a position where it would be forced to sell and effectively privatize government assets?

I'm just wondering if this is intentional self-sabotage with the endgame being a country where a significantly weakened central government has ceded power to private interests.

Seeing as businesses (especially in healthcare) have been slavering to take over many of the agencies that provide nationalized services, you can bet your ass that this is a given.

Mainly due to the fact that much like the Republicans in the US, the Tories are only thinking about how they can enrich themselves while screwing over the rest of the nation.


This conspiracy theory requires a level of competence from the ringleaders like Truss and Kwarteng.

Occum's Razor puts it more towards the answer being "laissez faire free-marketeers drinking the coolaid and believing the market will bless them with its grace".
 
2022-09-28 2:49:02 PM  
"...cutting taxes and scrapping the cap on bankers' bonuses"

So, freeing up money, financed by debt, and signaling, telling bankers to go for it.   In what fantasy is that going to end well?

Anyway, here's a helpful pic -- no matter what size of load they give you, never swallow.

Fark user imageView Full Size
 
2022-09-28 3:27:18 PM  
And Tory Twitter is coming out with shiat like this:
Fark user imageView Full Size


i.kym-cdn.comView Full Size
 
2022-09-28 6:29:05 PM  

iron de havilland: And Tory Twitter is coming out with shiat like this:
[Fark user image image 425x241]

[i.kym-cdn.com image 546x566]


The Obama administration is destroying the economy! I mean Malia Obama's administration in 2040!
 
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