UK's Truss says she'll slash taxes despite economic crisis

[B0ycey]

It's one point.

Here's another site to to raise your hackles...

https://www.wheretospendbitcoins.co.uk/region/online.html

What has bitcoin got to do with shit? Cyptos are the Tulips of the 21s century. Its value is due to a belief it has value so as long as you can find a sucker to buy off you, it has value. Currencies value is backed up by national wealth. It does however require taxation for it to be worth something otherwise its worth nothing. Taxation being the services the government provide which determines value. I find it sad just how uneducated people are on here on topics they want to interact in. At this rate Postman Post you just sound dumb.

[patman post]

The forth point says money supply which is controlled by taxation D*ckhe*d. But if you must know, its value is down to taxation. Without taxation it is just a piece of sheet of paper given it is an IOU issued by the bank of England.

No it doesn't. Point four says:

4. Money Supply
Money supply refers to the money within a country at a given point in time. The higher the money supply, the lower the currency value and vice versa. 

Here's another site to to raise your hackles...

https://www.wheretospendbitcoins.co.uk/region/online.html

[B0ycey]

You're wrong.

The forth point says money supply which is controlled by taxation D*ckhe*d. But if you must know, its value is down to taxation. Without taxation it is just a piece of sheet of paper given it is an IOU issued by the bank of England.

[patman post]

Tax has EVERYTHING to do with it. Currency is worth absolutely f**k all without taxation. That is why Crypos are worth nothing. There is nothing backing it up. Taxation is the method the government recoups its borrowings. If you don't recoup it is as good as Weimar.

You're wrong.

In fact you're so wrong that it's difficult to see just how such misplaced socialist beliefs could ever be purged from your soul. In short, I'm thankful you're nowhere near handling the UK economy and my savings.

I suggest you peruse the subject in the following link, because it explains simply what affects a currency's value — there are other sources, but they could prove a little complicated...

https://corporatefinanceinstitute.com/resources/knowledge/economics/how-is-currency-valued/

[B0ycey]

Currency gets its value from a few different things. Inflation and interest rates are a couple, tax has nothing to do with it.

Tax has EVERYTHING to do with it. Currency is worth absolutely F@@@ all without taxation. That is why Crypos are worth nothing. There is nothing backing it up. Taxation is the method the government recoups its borrowings. If you don't recoup it is as good as Weimar. 

[Nick]

Currency gets its value from taxation.

Currency gets its value from a few different things. Inflation and interest rates are a couple, tax has nothing to do with it.

[Borchester]

Liz has made a mega cock up. Currency gets its value from taxation.

In that case we can ramp up taxation and have a rock hard currency and an economy in which every day is like the first day of spring and all the rest.

Well, that has solved that problem.

[B0ycey]

Generally speaking, an economy with low taxes does better than one with high ones. So unless our Liz has made a mega cock up, things should be on the mend. Still, we shall have to wait and see.

Liz has made a mega cock up. Currency gets its value from taxation.

[Borchester]

Putin alone cannot be blamed for the sinking pound.

There's also the current government (about 90% to blame at this precise moment), Brexit and Covid...

Generally speaking, an economy with low taxes does better than one with high ones. So unless our Liz has made a mega cock up, things should be on the mend. Still, we shall have to wait and see.

[papasmurf]

Putin alone cannot be blamed for the sinking pound.

There's also the current government (about 90% to blame at this precise moment), Brexit and Covid...

Precisely. Whilst Putin is a factor there are numerous other converging problems and the Tories "mini-budget," has thrown petrol onto the fire.

[patman post]

Putin alone cannot be blamed for the sinking pound.

There's also the current government (about 90% to blame at this precise moment), Brexit and Covid...

[B0ycey]

It seem like Tories are in a contest to out-Tory one another to see who's the most Tory of all the Tories. To this end, doing anything that increases unfairness or is spiteful or angers people on the left or indeed angers those on the centre ground of politics, scores them points in the contest. 

Where will all this end?  In a crushing defeat at the next election probably.  But if not, the logical end would be a return to a more rigid class system with the only booming sector of the economy being domestic service.

I think the Tories were going to lose whatever. But I don't think the anger will hit until the inflation reflects prices on the shelves. Because you can't blame Putin for the sinking pound.

[HDQQ]

It seem like Tories are in a contest to out-Tory one another to see who's the most Tory of all the Tories. To this end, doing anything that increases unfairness or is spiteful or angers people on the left or indeed angers those on the centre ground of politics, scores them points in the contest.  

Where will all this end?  In a crushing defeat at the next election probably.  But if not, the logical end would be a return to a more rigid class system with the only booming sector of the economy being domestic service.

[patman post]

Frankly the Tories, (government and party members,) seem to have no clue about how bad the situation is.  I don't know if they just don't care, are callous, ill-informed or incompetent.
The cost-of-living situation gets worse by the week. (My wife and I's monthly budget account for the household groceries/consumables was £50 short last month due to price rises. We have had to adjust what we pay into it.)

I suggest the current batch of people in charge probably mostly "don't care, are callous, ill-informed or incompetent". I wish they were different, but they're what we've likely got for the next two years while we see if their financial expertise is better than we fear.

The PP family has never bothered with a household budget. But Mrs P has caught the frugal bug and is now suggesting we do, and shop more carefully — because she has noticed that prices are rising, and less expensive goods are regularly selling out, leaving only premium products on the shelves.

I admit that I am hoping (rather than hopeful) that the promise it's only just beginning, means there will be more measures designed to be economy boosting, and (Brexit, Covid, War, etc, allowing) they will work, because I fear at best we're in for a rough two years...

[Borchester]

The place is full of geniuses Borchester if you are still in the land of the living, because now they reckon it will be a 100 billion boost for the economy,  but isn't that already swallowed by inflation and interest rate rises which just means borrowing more to pay for it at a higher rate, just creates more debt.

Could be Sheepy. I think the point is that we are so used to talking in terms of pound notes and telephone numbers that we forget that £100 billions is only about 4% of the UK's GDP. It wouldn't do much harm, but it won't make a lot difference either.

I think that we ought to go back milliards and such. These days every chap with a pie cart in Hampstead High Street is a billionaire