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Gamal
Posts: 1050
Joined: February 26th, 2004, 8:41 am

Re: What is Trussonomics?

September 21st, 2022, 11:48 am

If you can't stand America, wouldn't you look for a position elsewhere?
 
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DavidJN
Posts: 211
Joined: July 14th, 2002, 3:00 am

Re: What is Trussonomics?

September 21st, 2022, 3:14 pm

Why does the left have such a problem with people who are different?
Reminding us that the left-right divide is Europe is completely different from in the States.

Michael Kinsley, who I think was employed by The Economist early in his career, wrote a scathing send-up of the magazine years ago. Couldn't find it just now, but the gist of it was that they hired kids just out of journalism school and had them write articles of the general form, "Such and such is a problem. But what if X is the solution? That being the case ...," and then write the rest of the article accepting that X was in fact the solution -- a solution always agreeing with The Economist's free market preferences -- and outlining all of the policy steps that should follow this received wisdom, never acknowledging that it had been tossed out as a conjecture with no evidence or argument to support it.

We have a newly crowned federal Conservative leader in Canada, Pierre Poilievre, who uses that special quality of Sophism in his video pronouncements to whip the fringe of his support base into lathers of low information spite. I have started referring to Mr. Poilievre, who has been only a politician since the tender young age of 25, as Pierre Pavlov, in honor of the scientist with the ringing bell, the connections should be obvious.
 
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bearish
Posts: 4963
Joined: February 3rd, 2011, 2:19 pm

Re: What is Trussonomics?

September 23rd, 2022, 10:26 pm

I may get back to Gamal’s question at some point, but not with alacrity. I think we learned a lot about Trussonomics (or quasi-nomics as it may be). Driving the exchange rate down is one way to be more competitive in export markets. It’s just inconvenient that they are so far away. Massive rate hikes (5 year gilts were up 50 bps today!) may help cure the excessively high price of London real estate, but said currency crash may still entice more Russians to buy. Trade-offs!
 
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Paul
Posts: 6095
Joined: July 20th, 2001, 3:28 pm

Re: What is Trussonomics?

September 24th, 2022, 11:20 am

I am reassured by the scathing article on the mini budget in The Economist.
 
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Marsden
Posts: 283
Joined: August 20th, 2001, 5:42 pm
Location: Maryland

Re: What is Trussonomics?

September 24th, 2022, 2:04 pm



You might think that, "Let's not forget the rich have more houses and some of us have stables," is an ill-advised thing to say, but only until you get to the part about "pruning the working class."

I hope someone will tell me that this is actually a British comedienne whom I just don't recognize.
 
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Marsden
Posts: 283
Joined: August 20th, 2001, 5:42 pm
Location: Maryland

Re: What is Trussonomics?

September 24th, 2022, 3:17 pm

EDIT: It's Rosie Holt.
 
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katastrofa
Posts: 7024
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

Re: What is Trussonomics?

September 25th, 2022, 4:42 pm

In todays’s newsletter from a property management company in London:
“ Prime Minister Liz Truss and her Chancellor of the Exchequer, Kwasi Kwarteng, announced plans to reduce Stamp Duty earlier in the week, and they were confirmed in the government’s mini-budget today (Friday 23 September), in an effort to grow the economy.”
Either this government is very stupid or very smart. Given their prior decisions and my simple logic, I’m excluding the second.
 
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Cuchulainn
Topic Author
Posts: 18065
Joined: July 16th, 2004, 7:38 am
Location: Lviv

Re: What is Trussonomics?

September 25th, 2022, 6:43 pm

Stamp duty, that's so 80s.
вот мой дорогой двоюродный брат
 
User avatar
katastrofa
Posts: 7024
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

Re: What is Trussonomics?

September 26th, 2022, 7:40 am



“How did you go bankrupt? - Two ways. Gradually and then suddenly.” The Sun Also Rises
 
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bearish
Posts: 4963
Joined: February 3rd, 2011, 2:19 pm

Re: What is Trussonomics?

September 26th, 2022, 1:20 pm



“How did you go bankrupt? - Two ways. Gradually and then suddenly.” The Sun Also Rises
It has bounced back to Friday’s (record low) close now. But here is a related thought. If, in June of 2020, you took $100 and bought the newly issued 30-year UK gilt, you would today have a position worth about $37 (including the coupon income received along the way).
 
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Paul
Posts: 6095
Joined: July 20th, 2001, 3:28 pm

Re: What is Trussonomics?

September 28th, 2022, 5:35 pm

BoE buys £10bn Lion Bars to prop up sterling. Traders say, “Game on!”
 
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katastrofa
Posts: 7024
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

Re: What is Trussonomics?

September 28th, 2022, 6:35 pm

Image
 
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Cuchulainn
Topic Author
Posts: 18065
Joined: July 16th, 2004, 7:38 am
Location: Lviv

Re: What is Trussonomics?

September 28th, 2022, 7:32 pm

Stamp duty, that's so 80s.
Yawn.
When can we expect the next Kami Kwasi budget?
вот мой дорогой двоюродный брат
 
User avatar
Cuchulainn
Topic Author
Posts: 18065
Joined: July 16th, 2004, 7:38 am
Location: Lviv

Re: What is Trussonomics?

September 28th, 2022, 7:37 pm

Image
"Can't have that"
IMF
вот мой дорогой двоюродный брат
 
User avatar
katastrofa
Posts: 7024
Joined: August 16th, 2007, 5:36 am
Location: Alpha Centauri

Re: What is Trussonomics?

September 28th, 2022, 9:31 pm

Buying gold (for sterling I presume) to prop up sterling. Please explain…
Image