In the news

The chancellor has apparently announced that he's going to release his long term plan to calm the market.

In two months time, on the 23rd November. I'd have thought that, by then, the market will have dictated to Kwarteng what his plan is.

Yeah, traders not impressed.

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That's two months btw...

Double vision, going by party rumours.

Mobile-using twat can probably afford the odd taxi around London for 6 months. The bloody cheek of trying 'exceptional hardship'...

https://www.theguardian.com/society/2022/sep/26/duke-of-norfolk-sentenced-in-private-driving-offence-national-security

Doh - that's so bad...

Amazing really. The chap has been building up to this moment for years, wrote a book about it, dismissing the advisors, "thanks but no thanks" to the OBR in his confidence.

Reckon he doesn't even think he's got anything wrong now?

Admirable, in a way

2008 mortgage crash in the USA was part caused by a rapid rise in interest rates.

That trickled down...to all of us in a bad way.

OK so a part the "middle class" which you have a chip on your shoulder for (judging by your posts) about loses their houses. No problem, those get bought cheap by groups with cash and then rented back out for...super high rents. Cos what are you going to do, be homeless? Oh, yeah, that will happen too.

So now barely any ordinary income band (25-75% income percentile) middle class person owns a house but all sort of funds/land lord groups do. And social houses won't be built either, the £ crashed now, tax incomes tanked.

Meanwhile there are still no social houses, and there's even less £ going around to spend.

Me as a middle class mortgage owner? Make me pay more tax (some my cash is going to stop one person going homeless atm...) and stop encouraging private property funds/improving house values pls stupid government...the economy doesn't gain much from rising property prices anyway.

Surely it was a sarcastic comment, no?

Virgin, Skipton and Halifax all withdraw mortgages temporarily.

Not sure reading several previously linked news articles...lots of complaining about middle class.

But you may be right :)

Can’t even borrow your way into more debt now
Fucken hell

Behold our budget to stimulate the housing market LOL

Few things floating around Twitter that Kwasi worked for a hedge fund that massively shorted the £ at Brexit

Probably just me, but right now what comes to mind is C.19th science people experimenting with electricity to see if dead things could be brought back to life

Someone said Trussonomics was a 'cargo cult' of Thatcherism which sent me straight to Wikipedia.

It was something observed when South Pacific Islands started to see people appearing with goods and cargos on boats and planes and they built their own models of runways expecting that if everything looked just like the thing they had seen happen before then the goods would arrive again in the same way.

I think we’ve all had enough of experts
Time to give amateurs a go

See also…

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Also a track from the amazing History of Melody Nelson album (ripped off by David Holmes on Let's get killed)

https://youtu.be/-Bphb9EZaTE

There's no way this could go horribly wrong. None at all. Nope.

I have that album!

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I'm pretty sure both the rocket and the asteroid are governed by the laws of physics, but yeah forget computer modelling let's do pew-pew

It's a good one!

I bet there'll be rounding errors in their calculations.

I'd rather they verified they can actually do it as opposed to just saying "Fuck it! We'll do it live!" and wait for the time when they actually need to do it for real.

Though I'm interested that the plan isn't to match orbit with it and push it instead. Guessing the direct route is a lot more fuel efficient.

Incredible album. Jean Claude Vannier at his best.