Ian Harnett, co-founder and chief investment strategist at Absolute Strategy, says the U.K. government has put the country’s economy into a difficult situation.
The UK government has made the Bank of England’s position almost impossible, strategist says
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UK is sucks.
Buy equities got it
UK is just being realistic. Balance the markets and get this chaos out the way now than later. Admit, we are in a bubble! Dji has popped ! 🤯
Nut job alert.
UK is giving free money to the rich, screwing the work and middle class, putting the country in high levels of debt, and increasing inflation.
This is what creates 3rd world countries…
The last thing the UK has been over the past seven years is being realistic.
XRP… Someone else talking a load of BS then….what bubble… So-called experts couldn’t run a piss up in a brewery… Tony cuenca
That’s the plan.
Confiscate the Monarchy money and import more muslims to enrich diversity lol
Fuck central banks fuck governments fuck the fraud financial system and fuck the slaves that support it. We need a great reset and any 80% reduction in hueman population. Namaste
UK, the masters of suicidal economics
QE 2022, the “permanently temporary” BOE edition😅
We need trump back
Yes, the dollar is too strong, we need someone to weaken it.
Tor…. DT is just another crook and arsehole… Tony cuenca
Yes back to jail
@Derek Arnold Nice
Very unfortunate timing that the MPC rate rise decision was the day before the Budget.
Stop printing money BOE
Hope youre not from the US.😄
They’re not printing money.
@Dynasty2201 BOE creates money to buy government bonds
The Tories have scored two own goals. First they tell Boris (who won a landslide popular vote) to “sling his hook” and then they install people who a renown economist calls “clueless amateurs who do stupid things”. What is worse is that waiting in the wings are more “clueless amateurs” in (ser) Keir Self-Harmer, Spit-the-Dog and “Creepy Mandy”. Come back Harold Wilson; all is forgiven, even your ties to The Kremlin.
“Clueless amateur who does stupid things” would also describe Boris very well.
Ok Russian bot
FULL financial collapse incoming ….. which is going to be wore than 2008/9 and possibly as bad as the 1920’s
Some 20% drop in value vs the dollar since Jan 2021. “OH MY GOD THE UK IS GONNA COLLAPSE!” Yeah let’s just ignore the fact that the EURO has ALSO DROPPED 20% in value since Jan 2021 vs the dollar, doing just as bad as us. How the Yen has plummeted. How the Australian dollar has plummeted. Hardly GBP specific
Other currencies have not fallen as low as sterling or against other countries as much. Which bit of the pound is trading at its lowest level in its history doesn’t compute?
does the sterling have to deal with italy and spain? those countries are just as bad as the UK and the ECB is currently weighing up their options in what theyre going to do, because italy might do something pretty radical to deal with it. i mean if you want to say the UK isnt that bad because greece was worse then be my guest. I personally would prefer that the UK does better than fiscally irresponsible countries but thats just me.
UK got no export… Export was £ …
Liz Tuss is a bit of twit, who does basically whatever her “donors” tell her to do, her Chancellor has a background in the Classics, achieved a First, a gold star on a piece of paper somewhere, so a little better than droopy draws Boris, the class clown’s 3rd tier degree in the said Classics (sort of East Enders about the ups and downs of Creek Gods, Demi Gods and whatnot) , progress of sorts I suppose. Therefore our “Creek Tragedy” continues hurtling along unburdened by common sense on our tiny damp Britannia Island on this blue speck in space orbiting a minor star in a nondescript suburb of the Milky Way which floats along with uncountable trillions of other Galleries towards total entropy, ie ultimately pure nothingness, Liz & Kwasi have just sped up that process up a wee bit.
CNBC, quick, attack the new conservative govt! We cannot let these extreme right wing fascists racists baby eating monsters get away with their evil plots to create a market based economy!
I’m working class and although this budget might hurt a bit in the short term it is just what’s needed for the long term!
I wouldn’t expect the globalists to like it because it’s not a socialists budget or a corporatists budget it’s a capitalists budget for independent working free peoples!
@Jonathan Odude What do you mean by when the economy is going slowly? the Boe said we are in a recession do you know what that means? No, growth and inflation are called stagflation, the Boe’s job is to deal with the inflation by raising the interest rate the government’s job is to deal with the recession but cutting taxes to keep people at their jobs
@manny mo cutting taxes leads to inflation. the economy is moving too quickly when there is double digit inflation. you slow it down by increasing rates. letting the economy cool off is the most important thing right now. people will die if they cannot afford to eat and pay their bills.
growth is completely separate. japan has not been growing for decades at this point and people still live good lives on the whole. growth is what you push for when the economy is going slowly. not when its on fire. growth now will cause unpayable bills. first, you fix inflation or things will get much worse, and you may have to scrap your entire currency and start over. its fine to be in a recession if youre preventing hyperinflation.
@Jonathan Odude How does cutting Tax lead to inflation? What are you talking about we were in inflation before the tax cut, Borrowing will increase the inflation that works against the BOE rate hick which is too slow and too late, People will die there are billions of people living in poverty and they been like this for all their lives,
Don’t compare Japan as the US owe Japan trillions and they have been paying the 100s of billions on interest alone, Sure I agree they need to fix the inflation but that is the work of the Boe, not the government if they are really independent, the IMF said to tackle inflation the interest rate should be one point above it, The Boe can’t do that and the government will not allow them to do it, so why are they doing? raising the interest by few point and hoping for a miracle to happen,
@manny mo that’s all fine, but the fact is, the best way to stop inflation is to stop people spending money on things they don’t need. If people saved up more, the economy cools off and prices drop due to lower demand. Tax cuts that give people more money than they had before increases spending and thus increases inflation.
We were in inflation before the tax cut. That’s why it was so ridiculous of an idea that investors are terrified that the government doesn’t know what it’s doing, so they pulled out their investments in the uk and crashed the pound.
Borrowing is fine if you do it sustainably and actually tell people what the effect of that will be. They didn’t do this so no one knows how the UK will pay back the debt (they aren’t making money here, borrowing for investment is growth but borrowing to spend is plain debt) so they won’t lend to the UK. That’s what the BoE just did. They essentially lent the money to the government because private investors don’t want to anymore, and if truss’s entire plan is based on borrowing while there’s no one to borrow from, the government will collapse Sri Lanka style. This literally happened this year and the uk wants a repeat of that it seems.
@Jonathan Odude You don’t have a clue you just talk rubbish, People stop buying are you saying people should stop eating at the restaurant no one goes to the pub eat and drink at home and save your money right? so what happens to those businesses and the people that work there? you want them to shut right?
That has nothing to do with investors pulling out anything the pound was dropping before the budget announcement, the dollar was getting stronger because of the FED hicks and because it’s the reserve currency it’s better returns and a lot safer, what causes the panic of the passion found is the Boe start selling those old bonds that caused the panic because the interest went up
all this shit is the cause of low-interest rates, the Boe and others forced those managers to look somewhere else for more risky investments to make a profit
Borrowing is fine if they do it to invest and grow the economy, not to run the services, remember when Jeremy said he want to borrow 100 billion and invest it they all laugh at him and said that was crazy then covid hit and what they did do? borrow 400 billion and lockdown the country that not crazy that madness,
Do you know the majority of the government borrowing is from the BOE? That’s the reason they made it independent so it doesn’t look like they are borrowing from themselves and the BOE set the rate independently but in reality, if they miss a payment the BOE is not going to send them the bailiffs,
Disorder by design, weather control, not global warming, switching to a digital currency, no financial crisis, 3 trillion worth of gas owned by the uk in the uk # no energy crisis order out of chaos
Tax cuts for the rich paid for by borrowing have plunged our country into an unnecessary crisis. This is what happens when you allow a Boris loyalist to become PM.
All the so-called experts know jackshit and talk a load of BS…. Tony cuenca
Blatant and very unfortunate ‘political’ interference in BoE Monetary Policy…… that will re-ignite cpi inflation well into Dbl Digits in the UK and exacerbating the pain for Britons.
Certainly pain if you’re over extended or over leveraged. The MPC btw, never made an independent decision in their existence. You believe that and I have a very large statue in central London I’d like to sell you.
Just print more money (Quantitative Easing) and redefine “recession”… Problem Solved. This is Economics 101.
Print more get more inflation thats 101 too
Poor bank! Oh my Lord! I am going to cry. Let me support you financially, would you mind? Hang on a minute! Do you need another bailout? Poor bankers!
Welcome to bankrupt Britain!🤦
Go and live in Yemen and let me know how you get on.
@Roger Newton why?
Pound gets pounded
2008 bank bailout pay back is now
Why they are not showing dollar/INR rates ?
Great Britain Great Way pounding the pound.
The war cry of the talking heads
I really don’t feel any empathy for the Banksters, because they only care for the financial and production value of most humans. And we wonder why our human values have made us so violent towards each other nowadays. What happens to humans are just statistics to be studied by specialists. Cultural Anthropologist believe that once early communities and villages get above a population of a few hundred people, they start to lose their humanity. If the current proposed New World Order manages to become a reality, the human species is doomed. The old idea that small is beautiful still rings true in our modern society, as long as we don’t accept all the negative things that can go along with anti-social tribalism. A Nation and a world need to place human rights, freedom, responsibility, etc. in a proper perspective. It mostly depends on abundance of basic resources for a given population and there fair distribution without class distinctions.
With all the crisis happening, it has really affected the stock market, one needs to have a different portfolio
I already invested in forex and crypto which are really profitable
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Digital currency to follow!?
Same Bank of England that said inflation was transitory?
Same as the ECB
The BoE made poopie.
I’m shorting the pound ! This is big time for some good trad ! This is what you get when there’s lots of idiots the vote a idiot
absolute rubbish the boe as ONE job keep inflation down DO YOUR JOB increase interest rates or join the tory party
Is it a supply or demand side issue? If it is supply side issue, then tax cuts would increase supply of goods and services and NO quantitative easing would be needed. If this is a demand side issue, then tax cuts would not be needed and higher rates would dampen inflation. UK needs to unite and stand up for their freedom!
The tax cut has nothing to do with inflation it’s the borrowing that’s will increase inflation and the majority of it is to bail out the energy cost, the BOE has to raise the rate but they are doing it too slow for fear of a recession and pressure from the government if they are truly independent they would have gone aggressive on the rate normally the rate should be above the inflation if they really want to tackle it, right now they are pushing the can a bit here and a bit there and hoping for a miracle to happen.
@manny mo the borrowing is worse because of the tax cuts. if they raised taxes instead, like boris had planned to do, theyd have to borrow much less and they could fund their programs without increasing the deficit.
@Jonathan Odude The tax cut account for 2 billion that’s all, it’s the energy bailout that takes that 70 billion and for this period only, Raise the Tax while people are struggling with the inflation that is a good idea you are the smartest kid in the classroom
@manny mo bruh whats the point of criticising others when you dont know how economics work? you realise that you can control what you tax, how you tax it and what you spend the tax money on? if you use the tax to help pay those energy bills (including for companies) then what are people going to be struggling with? if food, healthcare and energy is paid for, people will live and its up to them to make money. its not the governments concern whether you can buy a playstation or not.
remember that the taxes were going to go up. that 2b was only one aspect out of all of them, not the whole tax cut. 2b is the amount from the 45% top marginal tax rate getting scrapped only. there were other cuts.
@Jonathan Odude Why the government uses QE if the Tax they receive is enough to service everything? Why do they spend more than what they receive? Why they can’t grow the economy without borrowing all that money each month? Why do they keep the interest at 0 so they can borrow at a lower rate? This is not just the UK all other major economies have been doing the same thing for a decade now inflation happens because of the lockdown no production and billions are created in a short time, they know inflation will happen but they didn’t know the energy crises and the war in Ukraine will happen at the same time, now they push the can too fast and it’s at the edge, they can’t can’t push anymore it’s time to go back to reality
If they have the gold that belongs to Venezuela. They should use what does not belong to them. And it can disappear like Libya’s wealth
BRAVO UK !!!!!
IMF issues a rare & stinging rebuke to the UK.
Which is exactly what the fascists want….
USA and Biden destabilized Economy by starting damn war, now England in their lock of logic that USA is the culprit of all troubles have to step in and still support American warmongers. what a fools..
I don’t why guys even buy this orchestrated bullshit..
Soon the BBC doesn’t need to go to developing countries for their footage😂😂
They can shoot it in the UK , energy crisis ,inflation horrifying things never before ever 🤣🤣.
Thanks for the insight, but I’m still confused why Bitcoin and crypto prices keep dropping? This drop follows a number of other significant drops in recent weeks. I still hold enormous value of cryptos and it scares me. Whats your take on this?
I just withdraw my profit past two days before now, glad did invest with them and still reinvested and the trade is ongoing.
Pretty impressive, I have been on the wrong side for far long and I’m willing to make consultations to improve my situation. What is the most reliable medium to reach her please?
@zung Dun Some already dropped her digits up there
JanieSwagner
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Well Duh.. Imports/Exports will move any currency. US is importing less so the Dollar goes up.
Khazarian Mafia Big Boss Battle.
Babylon Falling.