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

[Borchester]

Because enough of the electorate are gullible enough to believe the propaganda from those who own the media/press and the Tory dirty tricks department.
(However even the Tories will have problems polishing the turd that Kwasi Kwarteng dropped on us last Friday.)

Then resist Pappy.  Stand up tall and proud and tell the Tories that you won't be bought and then cast their gold into my bank account.

[Borchester]

The thing is Borchester have you ever noticed the people you keep voting for, keep saying what a good job they will do at making everyone's lives better, end up as serial killers of one type or another, in fact Trump was about the only one who resisted the temptation.While you keep saying as long as they bung you a few quid it is fine.

I am a simple chap, easy going sort of chap Sheep.

I don't expect much from politicians and provided they drop me a pound or two via tax cuts and don't enclose my allotment, I go with the flow

[papasmurf]

And what a good start from Truss,why oh why do we keep electing the muppet show.

Because enough of the electorate are gullible enough to believe the propaganda from those who own the media/press and the Tory dirty tricks department.
(However even the Tories will have problems polishing the turd that Kwasi Kwarteng dropped on us last Friday.)

[Sampanviking]

Its the latest political Punch and Judy show, with both parties desperate to make sure nobody remembers that these economic problems are deliberately self inflicted as a direct result of deliberate policy.

To add insult to injury, the yanks have now stabbed us in the back because they they are self sufficient in energy and the soaring dollar means that they are coining it from us on both counts ie higher purchase cost priced in dollars and a double whamy from the weakened pound.

Sooner or later the UK and other European governments will need to wake up and remember that they are here to serve and protect the interest of their own people and not those of any other country.

Feck Ukraine, dump the lunatic, ineffective sanctions and save our industry, our businesses and our people by turning back on the tap for affordable Russian energy and get ourselves out of this ridiculous own goal trap, we have locked ourselves into.

[Sheepy]

Because clever people get the idea that they should do something clever and decide to do something clever which usually gets someone killed.

The problem with the left is that it has no confidence in its ideals and never realises that the best leadership is by competent mediocrities

The thing is Borchester have you ever noticed the people you keep voting for, keep saying what a good job they will do at making everyone's lives better, end up as serial killers of one type or another, in fact Trump was about the only one who resisted the temptation.While you keep saying as long as they bung you a few quid it is fine.

[Borchester]

And what a good start from Truss,why oh why do we keep electing the muppet show.

Because clever people get the idea that they should do something clever and decide to do something clever which usually gets someone killed.

The problem with the left is that it has no confidence in its ideals and never realises that the best leadership is by competent mediocrities

[cromwell]

And what a good start from Truss,why oh why do we keep electing the muppet show.

Clueless who go from uni to politics without a real job between and tell us they know what they're doing,they don't and it shows.

[Borchester]

Not true. It used to be based on gold. Today's currencies worth is from the services the nation supplies. In very basic terms Fiat Currency is the Government's national bank issued IOUs for it spending and you return those IOUs via taxation to control its value.

Actually, at one time or another, the currency was based on anything that was reasonably inflation proof. For much of history the main backer was silver, which was reasonably available and more or less stable. Playing cards were used for a while in Canada and tobacco most everywhere during periods of upheaval.

[Sheepy]

Not true. It used to be based on gold. Today's currencies worth is from the services the nation supplies. In very basic terms Fiat Currency is the Government's national bank issued IOUs for it spending and you return those IOUs via taxation to control its value.

We haven't finished yet, your mates would never get away with it under the Queen because she had made it clear in certain terms it wouldn't be tolerated, so they had to wait until she was brown bread.

[B0ycey]

All currency is worthless or not as the case may be.

Money is backed by the moral authority of the issuer and while the UK government may not be very moral, it is a lot better than most.

Not true. It used to be based on gold. Today's currencies worth is from the services the nation supplies. In very basic terms Fiat Currency is the Government's national bank issued IOUs for it spending and you return those IOUs via taxation to control its value.

[Nick]

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/

I'm losing the will to live correcting his posts, but I'm the wrong that is wrong

[Borchester]

I couldn't care is 180000 outlets accept Bitcoin for payment, it still is worthless given there is nothing to back up its value but faith. There was a time Tulips were traded as a medium. But if the bubble bursts, the guy holding the wallet of 1s and 0s loses out. In the mean time it is a currency full of suckers.

Also before we leave it here answer my question on borrowing and taxation please. Or are you going to run off because you now understand you have f**ked up. Jeez, I might as well speak to Postman Pat on these types of subject it seems.

All currency is worthless or not as the case may be.

Money is backed by the moral authority of the issuer and while the UK government may not be very moral, it is a lot better than most.

[B0ycey]

Bitcoin is a crypto currency, perhaps the archetypal one. And it it continues to be accepted by over 180 outlets in the UK, I guess it's still operational.

If you cannot read what's presented to you, and continue to flog (that beat, rather than sell) a dead horse, I reckon we should leave it here...

I couldn't care is 180000 outlets accept Bitcoin for payment, it still is worthless given there is nothing to back up its value but faith. There was a time Tulips were traded as a medium. But if the bubble bursts, the guy holding the wallet of 1s and 0s loses out. In the mean time it is a currency full of suckers.

Also before we leave it here answer my question on borrowing and taxation please. Or are you going to run off because you now understand you have f**ked up. Jeez, I might as well speak to Postman Pat on these types of subject it seems.

[patman post]

Bitcoin is a crypto currency, perhaps the archetypal one. And it it continues to be accepted by over 180 outlets in the UK, I guess it's still operational.

If you cannot read what's presented to you, and continue to flog (that's beat, rather than sell) a dead horse, I reckon we should leave it here...

[B0ycey]

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.

Oh my god. Explain to me right here and now what borrowing does for the money supply. Next ask what taxation does. You really are fucking clueless. Stop digging the fucking hole on something you know F@@@ all on.