In Liz We Truss

vimothy

vimothy

yurp
ok yeah I " read" everything. problem in general is that our financial system requires dollars, so if dollars become more expensive then werre pretty fucked
 
IdleRich

IdleRich

IdleRich
But, in a single(ish) sentence; the reason we don't simply raise interest rates really high to make our currency more attractive is cos a) while raising the rate may indeed prop up the currency it has various other effects which may be positive for some people and negative for others and b) in fact raising the value of a currency is not necessarily good for everyone or the country as a whole so it's not really a goal to make the currency as expensive as possible.
 
sufi

sufi

lala
IdleRich said:
But, in a single(ish) sentence; the reason we don't simply raise interest rates really high to make our currency more attractive is cos a) while raising the rate may indeed prop up the currency it has various other effects which may be positive for some people and negative for others and b) in fact raising the value of a currency is not necessarily good for everyone or the country as a whole so it's not really a goal to make the currency as expensive as possible.
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it's dynamic though so moments pop up where canny movers can align the variables and take advantage innit
truss and kwarteng thought they were having one such knee trembling moment
 
IdleRich

IdleRich

IdleRich
Of course. I'm just saying that unfortunately economics don't just boil down to - we need to make our currency as strong as possible and the way to do that is to make interest rates as high as possible so let's do it.
 
vimothy

vimothy

yurp
that's the issue really, we want an independent monetary policy, however we cant have one, were sort of unofficially pegged to the dollar, along with the rest of the world
 
vimothy

vimothy

yurp
one hugely significant reason as to why that's the case is that all of our banks have massive dollar funding needs
 
WashYourHands

WashYourHands

Cat Malogen
Être aux etats-unis quand il était de 2 £ pour un dollar semble tout à fait surréaliste actuellement, 2007, même avant le crash, vous ne le preniez pas pour acquis au point d'interagir avec les échanges de devises se déplaçant plus fréquemment (ou obtenir des vols pour renouveler les manigances de visa )

Rappelez-vous qu'il est tombé à 1,6, ce qui a encore soutenu des choix mais la laisse s'est resserrée
 
IdleRich

IdleRich

IdleRich
Multiple reports are saying that the letters of no confidence in Truss are already starting to arrive. Apparently that's actually against the party rules but people are so pissed off they are sending them in anyway as a way to blow off steam. I'd love to know what they say, when it was Johnson they could at least dress it up with all this "He achieved a lot in the first few months and blah blah blah but it saddens me to say that lately he blah blah and as a result I have to say that I no longer have confidence that he can lead the party so I regretfully request that he step down" - but with Truss they will have to just go straight to the last bit, there's not enough turd to polish.
 
IdleRich

IdleRich

IdleRich
It turns out it was actually all Kwarrteng's fault - she's sacked him now so it should all be absolutely fine from now on.
 
IdleRich

IdleRich

IdleRich
That would be ridiculous though, I'm actually one of those who recognises that the country elects a party not a PM and so they can change a PM... but at the same time, the country did not elect a party to simply run interminable leadership elections leaving the government in paralysis and the country fucked. Surely if she resigns they can't just stop everything for months again?
 
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