How much longer will this bear market go on for?

Millyonare

sevenhills said:

Millyonare said

UK has just been through a two-year war on covid, so extra govt debt is to be expected.

A lot of folks are massively overreacting to this new budget. No other G7 country in the world is raising taxes in the post-covid era. UK must not raise taxes. Cutting taxes, to give the people their own money back, is good.

Besides, the Truss giveaway is (much) less than we think. The 1-5% income tax cuts are going to be largely wiped out by the fiscal drag of the unchanged £12k and £100k tax allowances.

We as a country need to get away from this relentless doom-loop of knee-jerk hysteria and panic every time a policy change is made. It's pathetic.

It's been reported that the tax giveaway is the biggest since the war.
Giving tax cuts will just result in more consumer spending, we need growth. Thousands of people are not working because they are waiting for NHS operations. More spending on the NHS would be more likely to create growth.

British media reports hysterical overreactions all the time. It was reporting a crash in employment and house prices would occur after Brexit in 2016. They never happened.

Like I say, we (UK) have developed this weird culture of economic hysteria and panic, every time a new policy is announced.

Spending is trimmed -- it is austerity and we are all going to die... Spending is lifted -- it is recklessness and we are all going to die... Taxes go up -- we are squeezing the poor and we are all going to die... Taxes go down -- we are stripping the poor to feed the rich and we are all going to die...

The hysteria has to stop.

The NHS's problem is mismanagement, not money. The NHS is now one of the top-5 best-funded public health services on all of planet Earth. Cash is not the issue.

Type_45

Strap in and hold on to your hats.

Swipe

Type_45 said:

Strap in and hold on to your hats.

If your 80% prediction comes true, you'll be as miserable as everyone else so be careful what you wish for

InvesterJones

Type_45 said:

Black Monday, anyone?

Type_45 said:

Strap in and hold on to your hats.

FTSE is up 0.46%

Alistair31

InvesterJones said:

Type_45 said:

Black Monday, anyone?

Type_45 said:

Strap in and hold on to your hats.

FTSE is up 0.46%

VWRP is up over 2%. 

jcuurthht

Alistair31 said:

InvesterJones said:

Type_45 said:

Black Monday, anyone?

Type_45 said:

Strap in and hold on to your hats.

FTSE is up 0.46%

VWRP is up over 2%. 

That's because VWRP is USD, and GBP just crashed against the USD.

Alistair31

jcuurthht said:

Alistair31 said:

InvesterJones said:

Type_45 said:

Black Monday, anyone?

Type_45 said:

Strap in and hold on to your hats.

FTSE is up 0.46%

VWRP is up over 2%. 

That's because VWRP is USD, and GBP just crashed against the USD.

I am aware of that. Was making the point that if T45 hadn’t sold out of that he would be benefitting. Instead he gambled on gold miners and crypto which in retrospect was a bad choice vs sticking with it. Nobody has a crystal ball, of course.

t1redmonkey

Interesting...from the Guardian today:

MK62

Millyonare said:

Type_45 said:

masonic said:

Type_45 said:

sevenhills said:

GSP said:

Quite agree with nearly all of this.

While they have just reversed some recent decisions, I would have liked them to go the whole or further hog than cutting tax by just 1p to 19p. If they really believed in what they are doing it should have gone down to 15p to ‘get things moving’.
It seems to me by just the 1p cut they are a ‘little scared’ what may happen.

I would like to buy camper van, but I don't because of the debt.
We may help our children get on the housing ladder, but they will be paying this governments debt.

"This government's debt"...  so all the people who supported these policies are going to absolve themselves from any responsibility?

I think we all know the answer to that. Best to think of it as the British taxpayer's debt.

British tax payer's debt which some people were dead against all the way through. 

Those who supported these policies must accept responsibility.

This is wartime-like spending.

UK has just been through a two-year war on covid, so extra govt debt is to be expected.

A lot of folks are massively overreacting to this new budget. No other G7 country in the world is raising taxes in the post-covid era. UK must not raise taxes. Cutting taxes, to give the people their own money back, is good.

Besides, the Truss giveaway is (much) less than we think. The 1-5% income tax cuts are going to be largely wiped out by the fiscal drag of the unchanged £12k and £100k tax allowances.

It certainly will be for the low paid.....maybe not for middle earners, and certainly not for high earners....

InvesterJones

t1redmonkey said:

Interesting...from the Guardian today:

Looks eminently sensible apart from the interest rate figure - that might be a bit low for a stress test.