In the news

The country's.

Which is paid by the population through taxes.

Just wanted to hammer home the point that when "the government" racks up massive debt, it is taxpayers who foot the bill. Which is one thing when the lives of the population are being improved through infrastructure, or you're making a sacrifice to help those in need. But it's quite another when it's just some extra money for a few while tanking the economy.

This is where you see a divergence between the parliamentary party the (aptly named) members. Not sure MPs are that into her.

Scroll half way down to get to Round 1 then work up: https://www.theguardian.com/politics/ng-interactive/2022/sep/05/tory-leadership-election-full-results-liz-truss-rishi-sunak

Impressively quick work by Truss to take on the mantle of Worst PM Ever ™.
Coming months are going to be the worst shitshow.

Was at my parents over the weekend and got to read the Telegraph - jesus christ what a heartless, selfish, awful paper that is.

Can't wait to remortgage in 3 months time...

Check to see if you can fix earlier, I was able to do mine 3 months earlier with Nationwide.

Interesting that Sunak explicitly warned this would happen. I think there will be a real and quick backlash against Truss/Kwarteng in the Tory ranks (at least the ones that don't have hedge funds).

There will be a run on sterling. The gilts market will be in freefall. And the FTSE will tumble as global investors take fright and sell off every form of British asset. It might take only a few days, or the government might stagger through until the end of September, but before long Liz Truss and her new Chancellor Kwasi Kwarteng will have been forced to call in the IMF to stabilise a collapsing economy. That is, at least, according to the former Chancellor Rishi Sunak.

We've done a port/top up and are about to exchange so once that's all definitely gone through I think we'll look at fixing for the part that needs remortgaging. I genuinely don't know if fixing right now is a good thing, we're obviously headed for a recession but I remain hopefuly the govt/BoE will do something to help interest rates, they want people spending not saving.

You can usually lock in a rate up to 6 months ahead of time so start shopping today.

Citigroup’s head of foreign exchange strategy: “The UK is now in the midst of a currency crisis.”

I've got £10 of Japanese yen in a drawer at work, do I cash it in now or wait?

https://twitter.com/Alan_McGuinness/status/1574323890272116739

The wheels on the Truss fall off, fall off. All Day long.

I've got £12 of Japanese yen in a drawer at work

I've got £14 of Japanese yen in a drawer at work

I've got £16 of Japanese yen in a drawer at work

etc

Ha

Parliament still on recess for 2wks, with no sign of recall (yet) from the government. So there's no appetite to do anything about it...

#rep

So there's no appetite to do anything about it...

this is what they want, all there mates are shorting the £

Sunak's chances of becoming a PM are now even stronger than before

Genuine lol.

But crying too.

https://www.youtube.com/watch?v=5DTMF0MSXng

@nick_h. @William.

Somewhat surprisingly it looks like the market is giving us a reprieve on gas prices for now… who knows how long it can last. Under the price “cap” the Treasury is picking up the tab above around 200 on this chart.

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Rishi called it

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Good the BoE removed the stress tests on mortgages recently...

Haha there's talk of MP letters to the 1922 already