Bond yields are soaring to their highest levels in almost 30 years and sterling is sliding, but the Chancellor is nowhere to be seen. Where is Rachel Reeves and why won’t she address the markets her failed Budget has spooked, asks Matthew Lynn in the Spectator.
The Government’s economic strategy is facing its first real test, and where is the Chancellor? So far Rachel Reeves has been silent, preparing for a jaunt to China. At some point Reeves will have to address the markets – or risk turning a round of jitters into a full-blown crisis.
Over the last few days, the markets have turned decisively on the U.K. Yesterday, the yield on 10-year gilts hit its highest level since the financial crisis of 2008, while the yield on the 30-year gilt hit the highest level for 30 years. The U.K. is now paying more to service its debt than Greece, and very soon that will mean rising mortgage rates, and more companies going bankrupt. There is no mystery about what has happened. Investors have worked out that Reeves’s Budget, with its mix of big increases in borrowing, and higher company taxes, has failed, and will trap the economy in stagnation. The result? They are demanding more to lend money to the U.K.
Worth reading in full.
Meanwhile, Liz Truss has sent a cease and desist letter to Keir Starmer demanding that he stops claiming she crashed the economy, calling it “false and defamatory”. Her lawyers cite a report from economist Andrew Lilico, who tells the Telegraph that far from crashing the economy, “the thing that happened immediately following the mini-Budget was that the economy performed well”:
It’s not as though the economy was expected to go really fast and Liz Truss made it go a little bit slower than was expected. The thing that happened immediately following the mini-Budget was that the economy performed well. So it’s just preposterous to claim that she crashed the economy. Exactly the opposite happened. The economy did better than had been expected.
So Truss didn’t crash the economy, but Rachel from Accounts has.
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Scapegoat for the corrupt and incompetent NHS…
It’ll be us tax payers paying for he huge compensation when she’s released…
I thought you were leaving DS?
That was posted before the multi parrotting of the bs narrative.
So stfu..
There’s absolutely nothing on this site that I can’t find on msm.. It’s nothing but pretence.. Day after day, week after week, year after year of nothing but parrotting of the forced narrative by the same old people, saying nothing new, all while the likes of you think you’re being a Sceptic…… Clueless
“So stfu.”
Your rudeness amply displays the thugish level at which you seek to engage with the members of this site but I can assure you it is not considered acceptable by the vast majority.
“There’s absolutely nothing on this site that I can’t find on msm.. It’s nothing but pretence.”
Which naturally begs the question, ‘why are you here?’
If you can find the same information in the Main Stream Media as DS provides then surely your shekels would be better spent in a local town centre boozer where perhaps opinions might not be so nuanced as are found here. That is not meant to wish you good riddance as I am sure DS Editorial welcome contributions from whatever sources, no matter how humble, but surely some self reflection is warranted, no?
The Daily Sceptic has developed over the four years I have been a member / subscriber and I believe it is a site which supports lively, informed, opinionated but always well mannered discussions. We do not all share the same opinions, fortunately but surely in these frankly dark and dangerous times the ability to talk freely but politely is to be welcomed and supported.
At least you have provided a degree of low level comedy via your postings but I really do think you should be looking elsewhere for people with whom you can vociferate. There must be outlets available somewhere.
Toodle pip.
Epic.
Evidently the kind of person whose picnic is totally devoid of sandwiches.
It’s the fact he’s literally spent money to come on a site he’s previously ( in different guises ) and continuously moans about, saying “I’m done” then just comes back with a different name time and again…What rational person goes on like that?
Thanks Mogs.
She’s as guilty as hell.
The transcripts I have read indicate that Ms Letby is wholly innocent but there are two or three doctors who appear to have been negligent and that’s a generous assessment.
And you know this how?
Her guilt was shown by the fact that she was always on duty when the babies died, except when she wasn’t… something a little inconsistent there.
Statistical rounding error…
Yes didn’t Norman Fenton carry out some analysis about various doctors and nurses attending the ward and basically showed anyone could have been responsible? Looks like a cover up to me of NHS incompetence.
The modelling shows that this could never happen – so that proves it.
(whatever it is)
Experts. Don’t you just love them. Poor Sally Clark all over again perhaps.
The NHS seem certain she’s guilty though –
https://www.england.nhs.uk/2023/08/commenting-on-the-verdict-in-the-lucy-letby-trial/
Ruth May needs to keep her trap shut.
The NHS are still pushing the bloody C1984 “vaccines.” So far I have received two text messages “inviting” me and a further email.
Two days ago I had to attend A & E. The tannoy is still pumping out messages telling people to wear masks, socially distance and wash hands – unbelievable given the damages the first two have caused.
One thing’s for sure. It’s quite certain that particularly with their jab rhetoric the NHS has caused and will continue to cause the death of thousands more than Lucy Letby ever has.