Liz Truss

[Dazo]

Just now, Smithee said:

 

 

You're a special kind of special!

Gee thanks Smithee. Think you need a gif refresh though. 

[briever]

8 minutes ago, Dazo said:

Any big businesses in the uk is a good thing. If removing the cap attracts investment and jobs from banks into the uk I’m all for it. 
 

There is no cap on the earnings of the jobs you mention. 

 

Banking is a parasitical industry, they add little value, especially in the arms they are freeing the reigns on.

[Dazo]

1 minute ago, briever said:

 

Banking is a parasitical industry, they add little value, especially in the arms they are freeing the reigns on.

I’d imagine the million or so people working in the uk financial industry would argue about the value they bring to the uk. 😊 

[briever]

2 minutes ago, Dazo said:

I’d imagine the million or so people working in the uk financial industry would argue about the value they bring to the uk. 😊 

 

The parasitical arms of the industry that the bonus cap is being removed from are not the same as the largely averagely paid banking staff you're quoting.

[Unknown user]

13 minutes ago, Dazo said:

Gee thanks Smithee. Think you need a gif refresh though. 

 

Au contraire, sounds like it's landing quite nicely. 

8/10 will use again

[Dazo]

3 minutes ago, briever said:

 

The parasitical arms of the industry that the bonus cap is being removed from are not the same as the largely averagely paid banking staff you're quoting.

They come hand in hand a lot of the time and the side you may not like can bring a lot of money into the banks. It can lead to jobs and investment throughout the industry. 
 

No point going round in circles, you don’t like them, that’s okay with me. 😊

[Unknown user]

Just now, Dazo said:

They come hand in hand a lot of the time and the side you may not like can bring a lot of money into the banks. It can lead to jobs and investment throughout the industry. 
 

No point going round in circles, you don’t like them, that’s okay with me. 😊

Allowing bankers even higher bonuses can lead to jobs and investment how?

[Dazo]

Just now, Smithee said:

 

Au contraire, sounds like it's landing quite nicely. 

8/10 will use again

Guess it’s those little battles these days for you Smithee. Take the win and be proud. 👍

[briever]

1 minute ago, Dazo said:

They come hand in hand a lot of the time and the side you may not like can bring a lot of money into the banks. It can lead to jobs and investment throughout the industry. 
 

No point going round in circles, you don’t like them, that’s okay with me. 😊

 

Ahhh the mythical trickle down.

[Malinga the Swinga]

46 minutes ago, Dazo said:

I seen a few people privately laughing while waiting for the actual service to start. Not really got an issue with it. I’ll be honest though I haven’t seen the actual footage of him laughing though. 
 

If bankers bonus caps are causing an issue for uk banks getting the right people to work here then again I don’t have an issue with it. I don’t think the government should be interfering in private businesses bonuses anyway. 
 

I’d image if it was NS or the fat hibby doing it I’d be a complete hypocrite and be disgusted at such disrespect. 😊

Think you have to differentiate between the average person who works in a high Street bank and those who work in an investment bank and generally **** about with hedge funds and the like.

Always laugh when people go on about million pound bankers bonuses. Needs to be a split between the different types of banks and what they pay but the media aren't bothered and folk on here too lazy to care.

[briever]

7 minutes ago, Malinga the Swinga said:

Think you have to differentiate between the average person who works in a high Street bank and those who work in an investment bank and generally **** about with hedge funds and the like.

Always laugh when people go on about million pound bankers bonuses. Needs to be a split between the different types of banks and what they pay but the media aren't bothered and folk on here too lazy to care.

 

Can someone do a Venn Diagram of the fuds who support the UK/Monarchy/Bankers ?

[Unknown user]

15 minutes ago, Dazo said:

Guess it’s those little battles these days for you Smithee. Take the win and be proud. 👍

What a ***** thing to say

[The Mighty Thor]

2 hours ago, briever said:

 

Can someone do a Venn Diagram of the fuds who support the UK/Monarchy/Bankers ?

Do you mean just a circle?

[The Mighty Thor]

Pounshop Thatcher wasting no time in her 80s reenactment cosplay

 

Benefitting the rich and smashing the scroungers?

 

There'll be a few of the boys on here thrashing themselves at the very thought

 

 

[Unknown user]

10 minutes ago, The Mighty Thor said:

Pounshop Thatcher wasting no time in her 80s reenactment cosplay

 

Benefitting the rich and smashing the scroungers?

 

There'll be a few of the boys on here thrashing themselves at the very thought

 

 

 

From the Treasury, to be announced on Friday:

 

“Around 120,000 more benefit claimants will be asked to take active steps to seek more and better paid work, or face having their benefits reduced”

 

It's the working poor who are the ***** now, the victims of our capitalist society need to pull their socks up.

 

Thank you Tory Godmother, that should fix this shit show, as long as you uncap bankers bonuses, of course!

[Konrad von Carstein]

I'm beginning to think that they know that the gig is up for them and are now wrecking everything that they can and are leaving any new government an absolute shambles to sort out.

 

That being said the opposition parties need to up their game and work together where possible to rout these charlatans.

 

[vegas-voss]

32 minutes ago, Konrad von Carstein said:

I'm beginning to think that they know that the gig is up for them and are now wrecking everything that they can and are leaving any new government an absolute shambles to sort out.

 

That being said the opposition parties need to up their game and work together where possible to rout these charlatans.

 

The ****s will probably get in again.Until enough of the folk that are shat on the most get up off their arse and start voting nothing will change.

[Konrad von Carstein]

2 minutes ago, Lord BJ said:

I don’t think its malice, think it’s more a Misguided belief about productivity and growth.

 

A lot of these policies are designed to increase productivity in the economy. The likes of increased usage of resources, staff returning to offices, ‘reduciving’ red tape are all designed to improve productivity of our existing resources.  The generally accepted way, if there is such a thing, out of stagflation, which is staring us right in the face is to increase productivity. You obtain increased growth whilst cooling inflation by not contributing to inflationary, by increasing demand pressures, due better use of resources (I’ve simplified that a bit).

 

 I think they will make little difference (albeit they would help, it’s the margin), I suspect there will be some more policies that will be designed to increase that. I expect to see a lot of these type of things (SG have made similar noises around certain areas) introduced as they will look to squeeze growth out of everything. 

 

Whilst no doubt, some of these things policies will undoubtably play to their potential electorate ie. Benefit scrougers back to work.

 

Its difficult to comment too much without knowing the details. 
 

I do have a major difficulties in squaring the circle right now between the direction the BofE will take at our government policy makers. (Jacking rates, whilst increasing borrowing in contradictory in many ways) They need to get inflation under control pronto, IMO there has been some negligent guidance from government and  BOfE in their approach. The stance they took of inflationary being transitionary, due to COVID was a complete nonsense as ignored the fundamental consequences of QE. 
 

They should have taken action much quicker IMO. Interest rates should have been raised earlier, the energy cap introduced much quicker (especially due to its inflationary contribution) in amongst a number of other things they could have done. 
 

I also personally think we will see some action to try and address the fall of the pound. Not sure what exactly, it’s hard to second guess. A lot of people are going short against the pound right now,😙 I also think we might see the tax system overhauled severely, albeit that will take a long time to do. 

 

I actually agree the logic of going after growth to improve the economy. Just not sure they will do it successfully, albeit I hope to **** I’m wrong.

 

(Don’t have my glasses on, so spelling grammar will be over place)

Informative post thanks.

 

Could you explain to me in layman's terms what "going short against the pound" means...

[briever]

6 minutes ago, Lord BJ said:

I don’t think its malice, think it’s more a Misguided belief about productivity and growth.

 

A lot of these policies are designed to increase productivity in the economy. The likes of increased usage of resources, staff returning to offices, ‘reduciving’ red tape are all designed to improve productivity of our existing resources.  The generally accepted way, if there is such a thing, out of stagflation, which is staring us right in the face is to increase productivity. You obtain increased growth whilst cooling inflation by not contributing to inflationary, by increasing demand pressures, due better use of resources (I’ve simplified that a bit).

 

 I think they will make little difference (albeit they would help, it’s the margin), I suspect there will be some more policies that will be designed to increase that. I expect to see a lot of these type of things (SG have made similar noises around certain areas) introduced as they will look to squeeze growth out of everything. 

 

Whilst no doubt, some of these things policies will undoubtably play to their potential electorate ie. Benefit scrougers back to work.

 

Its difficult to comment too much without knowing the details. 
 

I do have a major difficulties in squaring the circle right now between the direction the BofE will take at our government policy makers. (Jacking rates, whilst increasing borrowing in contradictory in many ways) They need to get inflation under control pronto, IMO there has been some negligent guidance from government and  BOfE in their approach. The stance they took of inflationary being transitionary, due to COVID was a complete nonsense as ignored the fundamental consequences of QE. 
 

They should have taken action much quicker IMO. Interest rates should have been raised earlier, the energy cap introduced much quicker (especially due to its inflationary contribution) in amongst a number of other things they could have done. 
 

I also personally think we will see some action to try and address the fall of the pound. Not sure what exactly, it’s hard to second guess. A lot of people are going short against the pound right now,😙 I also think we might see the tax system overhauled severely, albeit that will take a long time to do. 

 

I actually agree the logic of going after growth to improve the economy. Just not sure they will do it successfully, albeit I hope to **** I’m wrong.

 

(Don’t have my glasses on, so spelling grammar will be over place)

 

Out of the drivel that has come from her cabinet in the last fortnight what makes you think they are targeting growth?

 

A growth in the wealthy bank balances maybe, but there is nothing in there that is a coherent policy.  Truss spent 2 months doing policy on the hoof, the last 2 weeks have been no different.

 

 

[doctor jambo]

14 hours ago, Dazo said:

Any big businesses in the uk is a good thing. If removing the cap attracts investment and jobs from banks into the uk I’m all for it. 
 

There is no cap on the earnings of the jobs you mention. 

There is a cap on our earnings.

we are on pay scales .

once that tops out that’s it.

Socialist pay for public sector workers in a capitalist economy .

[Dazo]

7 minutes ago, doctor jambo said:

There is a cap on our earnings.

we are on pay scales .

once that tops out that’s it.

Socialist pay for public sector workers in a capitalist economy .

Many industries have pay scales including banking. It isn’t a cap on earnings as you can work privately to exceed your pay scale. 

[Japan Jambo]

16 hours ago, Roxy Hearts said:

She's dressed like she's just left the asylum. Maybe she has!

 

Think she was expecting Kwasi...

[Japan Jambo]

15 hours ago, briever said:

 

Why exactly is bankers leaving the UK a bad thing?

 

Now, important people like nurses and docs, yeh I might understand them lifting the cap on their earnings.

 

🤣 yup best they just all piss off and create wealth/pay tax elsewhere.

 

[briever]

7 minutes ago, Japan Jambo said:

 

🤣 yup best they just all piss off and create wealth/pay tax elsewhere.

 

 

Bankers create wealth for themselves.

 

[Japan Jambo]

2 minutes ago, briever said:

 

Bankers create wealth for themselves.

 

 

They also pay a lot of tax in the process.

[Dazo]

4 minutes ago, briever said:

 

Bankers create wealth for themselves.

 

Genuinely so ****ing what ? Why do you care so much about what other people earn ?
 

Someone earning a lot of money doesn’t stop someone else doing the same. If your earnings are inadequate do something about it instead of bleating over the fence. 

[The Old Tolbooth]

11 hours ago, Smithee said:

 

From the Treasury, to be announced on Friday:

 

“Around 120,000 more benefit claimants will be asked to take active steps to seek more and better paid work, or face having their benefits reduced”

 

It's the working poor who are the ***** now, the victims of our capitalist society need to pull their socks up.

 

Thank you Tory Godmother, that should fix this shit show, as long as you uncap bankers bonuses, of course!

 

They really are vermin, however no gain without pain, and if they alienate a lot of people over the next 12 months or so, then that's good news for the Yes movement, it can only help us break this ball and chain off our ankles once and for all and end this corrupt, unequal, bent union! 

[Konrad von Carstein]

1 hour ago, Lord BJ said:

Your betting that value of the pound will fall in the future. it’s a trading strategy/position on most markets, 
 

An example is easiest to explain. I borrow a million pounds, which I need to pay back in a month. In that month I convert that million pounds into 1 million pounds worth of dollars say  I convert to 1.2M of dollars.  In a months time, when I repay the price of sterling has fallen when I convert it , I now get £1.2M sterling. I pay back my million and make 200k profit.

 

Its a very simplified version. However, I’m sure you can appreciate the scale of trading on the currency markets and how they move. A weak pound makes everything more expensive  us as we’re net importers, it’s been a contributory factor to the U.K. rate of inflation. It’s getting to a point where people will be looking to influence the market. It famously happened before and sterling had to be removed for a period. 
 

Im about to head of to out so anymore questions might be a little bit before respond👍

 

 

Cheers, no more questions from me, I'm sure you have better things to do than try to explain high finance to someone who's experience of investing is my pension and a couple of investment ISA's one of which is on the Moneybox app 

 

[Boof]

12 hours ago, Smithee said:

 

From the Treasury, to be announced on Friday:

 

“Around 120,000 more benefit claimants will be asked to take active steps to seek more and better paid work, or face having their benefits reduced”

 

It's the working poor who are the ***** now, the victims of our capitalist society need to pull their socks up.

 

Thank you Tory Godmother, that should fix this shit show, as long as you uncap bankers bonuses, of course!

 

Like, for  example, going on strike?

[The Mighty Thor]

1 hour ago, Japan Jambo said:

 

🤣 yup best they just all piss off and create wealth/pay tax elsewhere.

 

We've already had this discussion. They employ every known ruse to avoid tax as it is whilst utilising the benefits of living in this country.

 

They're more than welcome to piss off as far as I'm concerned 

[I P Knightley]

18 hours ago, briever said:

The state of her, haughty and glaikit all at once.

TF is she wearing? Looks like Ebeneezer Scrooge's nightshirt. Also looks convenient for getting fingered.

 

16 hours ago, Dazo said:

Any big businesses in the uk is a good thing. If removing the cap attracts investment and jobs from banks into the uk I’m all for it. 
 

There is no cap on the earnings of the jobs you mention. 

There is absolutely no evidence that it will attract jobs or investment. That's a scare story put about by... erm... bankers and Toryfokkers that imposing a cap on bankers' earnings would see them quit the UK and take jobs and investment with them. It's scaremongering bullshit; none of them believe it.

 

2 hours ago, Lord BJ said:

An example is easiest to explain. I borrow a million pounds, which I need to pay back in a month. In that month I convert that million pounds into 1 million pounds worth of dollars say  I convert to 1.2M of dollars.  In a months time, when I repay the price of sterling has fallen when I convert it , I now get £1.2M sterling. I pay back my million and make 200k profit.

 

Maybe worth noting that you don't have to have that £1m in cash either now or in the future. You're simply betting on the value of the exchange rate, saying "I bet that $1.2m will be worth more than £1m at (a specified point in the future)". When sterling weakens, that bet comes off and you take the gain.

[Unknown user]

1 hour ago, Japan Jambo said:

 

🤣 yup best they just all piss off and create wealth/pay tax elsewhere.

 

 

🤣 aye cos there's no-one there to replace them

[Unknown user]

47 minutes ago, Boof said:

 

Like, for  example, going on strike?

 

I'd love to see that conversation down at the job centre

[Japan Jambo]

34 minutes ago, The Mighty Thor said:

We've already had this discussion. They employ every known ruse to avoid tax as it is whilst utilising the benefits of living in this country.

 

They're more than welcome to piss off as far as I'm concerned 

 

and yet you still don't understand the basic economics. 3% of taxpayers pay 10% of the total taxes (11% of employment taxes). Without them how do you plug the gap?

 

You really have no idea how difficult it is for your regular city employee to evade/avoid tax. Clearly we'll never agree on this but on the off chance you may want to educate yourself as to what financial services actually do contribute;

 

https://www.cityoflondon.gov.uk/supporting-businesses/economic-research/research-publications/total-tax-contribution-of-uk-financial-services

 

 

[Japan Jambo]

12 minutes ago, Smithee said:

 

🤣 aye cos there's no-one there to replace them

 

Post Brexit there is quite a lot of truth in that, some positions are extremely hard to fill. Problem is not everyone wants to put in the hard yards.

 

[Unknown user]

4 minutes ago, Japan Jambo said:

 

Post Brexit there is quite a lot of truth in that, some positions are extremely hard to fill. Problem is not everyone wants to put in the hard yards.

 

 

Is this the bit where we pretend there aren't thousands of qualified people dying to get into those lucrative jobs, even putting up with capped bonuses?

[Unknown user]

11 minutes ago, Japan Jambo said:

 

and yet you still don't understand the basic economics. 3% of taxpayers pay 10% of the total taxes (11% of employment taxes). Without them how do you plug the gap?

 

You really have no idea how difficult it is for your regular city employee to evade/avoid tax. Clearly we'll never agree on this but on the off chance you may want to educate yourself as to what financial services actually do contribute;

 

https://www.cityoflondon.gov.uk/supporting-businesses/economic-research/research-publications/total-tax-contribution-of-uk-financial-services

 

 

 

All that, and you don't understand the simple equation that there are loads of people dying to fill those roles.

 

Not that they're going anywhere, they're too well paid.

[JudyJudyJudy]

They really are trash 

 

 

 

https://www.theguardian.com/politics/2022/sep/21/kwasi-kwarteng-to-shrink-part-time-work-benefits-to-grow-labour-supply?CMP=fb_gu&utm_medium=Social&utm_source=Facebook&fbclid=IwAR0wroqJWXRYYP7SUN1fQaZGDjcoYzm8hpHyCgmYFWIztA5r7JraBdr9eno#Echobox=1663827796

[JudyJudyJudy]

39 minutes ago, I P Knightley said:

TF is she wearing? Looks like Ebeneezer Scrooge's nightshirt. Also looks convenient for getting fingered.

 

There is absolutely no evidence that it will attract jobs or investment. That's a scare story put about by... erm... bankers and Toryfokkers that imposing a cap on bankers' earnings would see them quit the UK and take jobs and investment with them. It's scaremongering bullshit; none of them believe it.

 

Maybe worth noting that you don't have to have that £1m in cash either now or in the future. You're simply betting on the value of the exchange rate, saying "I bet that $1.2m will be worth more than £1m at (a specified point in the future)". When sterling weakens, that bet comes off and you take the gain.

Regarding Truss dress it really is a fashion faux pas . A nice belt around it might have created a figure of sorts . It would suit no one ! As for the comments about the economy I know nothing 😂

[Pans Jambo]

2.25% interest rate and rising. The tories are doing so well.

[Japan Jambo]

11 minutes ago, Smithee said:

 

Is this the bit where we pretend there aren't thousands of qualified people dying to get into those lucrative jobs, even putting up with capped bonuses?

 

No need to pretend 😁 

 

https://www.insurancejournal.com/news/international/2022/08/10/679477.htm

 

9 minutes ago, Smithee said:

 

All that, and you don't understand the simple equation that there are loads of people dying to fill those roles.

 

Not that they're going anywhere, they're too well paid.

 

Seeing as your such an expert why don't you turn your hand to recruiting? Can't get seasoned compliance folks right now despite their comp having ramped up massively.

 

[Unknown user]

1 minute ago, Japan Jambo said:

 

No need to pretend 😁 

 

https://www.insurancejournal.com/news/international/2022/08/10/679477.htm

 

 

Seeing as your such an expert why don't you turn your hand to recruiting? Can't get seasoned compliance folks right now despite their comp having ramped up massively.

 

 

I worked for St James Place Wealth Management until April of last year, and years ago for LTSB Asset Finance Division as was, so I'm not an expert but I do have some experience.

 

Jobs in finance, like the one I had, and the top paid bankers with capped bonuses are very different things, and the people where I was are aiming for the latter.

 

There's a massive pay issue at the bottom, the vague prospect of moving up and earning riches isn't enough any more.

 

So I think I'll stand by what I said 👍

[Unknown user]

Were struggling to fill jobs in finance!

 

Yeah, on the bottom rung.

[Boof]

52 minutes ago, Smithee said:

 

I'd love to see that conversation down at the job centre

 

Obviously only works for the benefit claimants who aren't jobless

[manaliveits105]

Liz has moved seemlessly it appears into the rent free accommodation vacated by Boris and I’m not talking about number 10 

[Smoked-Glass]

Nice jugs

[The Mighty Thor]

2 hours ago, Japan Jambo said:

 

and yet you still don't understand the basic economics. 3% of taxpayers pay 10% of the total taxes (11% of employment taxes). Without them how do you plug the gap?

 

You really have no idea how difficult it is for your regular city employee to evade/avoid tax. Clearly we'll never agree on this but on the off chance you may want to educate yourself as to what financial services actually do contribute;

 

https://www.cityoflondon.gov.uk/supporting-businesses/economic-research/research-publications/total-tax-contribution-of-uk-financial-services

 

 

How much of that was bankers bonuses.

 

Gina Miller, who sat on the EU panel to bring in the cap, said last year 2021-22 was a record bonus pot of.......£7.5 bn. That's the pot size. That's before avoidance schemes and offsetting. There's no figures available for the taxes actually collected on that pot figure

 

On the off chance you may want to join the real world, educate yourself first on the difference between bonus pots and transactional taxes and corporation taxes. 

Top hint: it's in the document you posted 👍

[I P Knightley]

4 hours ago, Pans Jambo said:

2.25% interest rate and rising. The tories are doing so well.

They'll blame the Bank of England.

[Cade]

Officially in recession tae

 

[The Mighty Thor]

It appears the government can't (or won't) account for huge increases in 'company' foreign office credit card spend since Sept 2021. 

Things like wellness treatments and 4 and a half grand worth of hair appointments started to appear from September 2021

 

Liz Truss became foreign secretary in.......Sept 2021 🤔