Posted on 11/14/2022 2:43:37 AM PST by C19fan
Millions of households face a cost of living crunch in April with average energy bills rising by £900 as the government's cap ends - and council tax almost certain to soar.
Chancellor Jeremy Hunt is poised to confirm the end of the blanket subsidies on energy prices when he delivers a grim Autumn Statement on Thursday.
It will be part of an 'eye-watering' package of savings and tax rises to fill a black hole of up to £60 millionbillion [sic] in the government finances.
(Excerpt) Read more at dailymail.co.uk ...
This will likely result in migration to climates more temperate.
Can’t add anything to that ^^^
If you can't afford food or heat or mortgage payments, do you really care if the markets melt down?
The money changers have some very strange priorities.
but is the UK green agenda on track?
The simplicity of arithmetic is too difficult for the soft socialists who have been erecting a house of cards for decades. "Welfarism," in which people are paid not to produce anything at all, as a pretense of "caring" will topple the West.
No government need raise more taxes. All government needs to slash spending. The current crop of politicians -- to include the so-called Conservatives" in the UK -- are incapable of this, so long as they too get to ride for free, essentially, atop the welfarist system.
This will be no "color revolution" nor anything from without, but rather the simple withering from within. It is seen in the Democrat-led inner cities in the US, as it is seen in the growing mess throughout Europe. The ailment is politics, itself. Make promises of imaginary prosperity for tomorrow, and pilfer in the interim, because that sort of tomorrow does not come.
At the same moment the British pound was crashing versus the US Dollar, the Euro and Yen were also crashing, and the US Dollar was zooming upward to a 20 year high versus a basket of those three currencies.
During the peak of this alleged crisis, interest rates on the US Treasury 10 Year bond were consistently 50-100 basis points HIGHER than the interest rates on the allegedly crashing British 10 Year government bond.
The claim that the trading value of British government bonds dropped sharply was true - but, so what? There was ZERO risk that the British Government was going to default, and 100% certainty that the bonds would be redeemed at full value at maturity. The only people who got hurt by the crash in bond prices were bond traders. British bond holders will make out just fine, and exactly as promised when they purchased the bonds.
The only thing American Conservatives can celebrate in 2022 is that British Conservatives are even weaker and more stupid than we are!
Rishi Sunak warns failing to raise taxes and slash spending in Autumn Statement this week would cause fresh market meltdown
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The serfs pay more, get less, or markets meltdown, tells one something about the markets.
“slash spending”
LOL. He’s a real comedian.
Spending, meet Entitlements. Let us know how you get on...
No default risk but the risk the Bank of England would have to monetize the debt causing an inflationary spiral. Yes I would be paid but the pounds would be worthless.
From memory, Great Britain sovereign debt is 103% of annual GDP.
USA federal government debt is 121% of GDP.
USA federal, state, and local government debt is 135% of annual GDP.
As I stated earlier - the alleged British debt crisis is anti-Conservative Party propaganda, created by the pro-WEF financial news media.
[USA federal government debt is 121% of GDP.
USA federal, state, and local government debt is 135% of annual GDP.]
This should end well..........
As one watches the comedy which is Britain today, and the lunacy of Hunt and Sunak, it seems the answer was, remains and will remains grind down the employees and small business employers with increasing taxes as the pound sterling weakens further. This is called "Conservative" in the UK today, whereas once upon a time it was called Leninism. I shake my head at the Europe of today, which thinks some foreign war far from their borders and the globalist banks are somehow more important than the average Brit. Their lunacy will be equaled by the Labour Party, since the political class of the UK is now in full loony mode.
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