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Post by oldie on Sept 28, 2022 11:35:53 GMT
Breaking news: BoE intervening in the Gilt markets. It's pretty unfathomable the whole thing almost like they set out to deliberately wreck the economy,I can't believe that so I'm going for their just plain stupid and can't grasp the impact of Fridays statement. It's what happens Clive, when blind ideology triumphs over pragmatism and professionalism. This is just another event rooted in the ideological loonies in the Tory that have taken them over. Brexit was their enabler, now they think they can do what they want. Even when the Maths do not add up. |
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Post by stuart1974 on Sept 28, 2022 14:45:37 GMT
Conservative Party Conference next week, one to watch.
"The Bank of England's intervention announced today was in response to a "run dynamic" on pension funds, Sky News' economic editor Ed Conway has been told.
If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said.
"It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained.
"It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse.
"I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was.
"It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments.
"The scale of this crisis is now becoming clearer.
"We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event.
"They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before." "
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Post by stuart1974 on Sept 28, 2022 14:50:27 GMT
Remind me, which demographic tends to vote Conservative??
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Post by yattongas on Sept 28, 2022 15:18:10 GMT
Conservative Party Conference next week, one to watch. "The Bank of England's intervention announced today was in response to a "run dynamic" on pension funds, Sky News' economic editor Ed Conway has been told. If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said. "It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained. "It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse. "I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was. "It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments. "The scale of this crisis is now becoming clearer. "We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event. "They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before." " Over dramatising as always 🙄 Have you seen how Ed Milliband eats a bacon sandwich? 🤮 |
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Post by trevorgas on Sept 28, 2022 16:02:32 GMT
Conservative Party Conference next week, one to watch. "The Bank of England's intervention announced today was in response to a "run dynamic" on pension funds, Sky News' economic editor Ed Conway has been told. If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said. "It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained. "It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse. "I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was. "It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments. "The scale of this crisis is now becoming clearer. "We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event. "They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before." " It's almost incomprehensible,genuine question do you think they don't understand or they don't care? |
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Post by trevorgas on Sept 28, 2022 16:09:56 GMT
It's pretty unfathomable the whole thing almost like they set out to deliberately wreck the economy,I can't believe that so I'm going for their just plain stupid and can't grasp the impact of Fridays statement. It's what happens Clive, when blind ideology triumphs over pragmatism and professionalism. This is just another event rooted in the ideological loonies in the Tory that have taken them over. Brexit was their enabler, now they think they can do what they want. Even when the Maths do not add up. Exasperation in the extreme,going to hide under the duvet for a month or two ☺️ |
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Post by yattongas on Sept 28, 2022 16:11:39 GMT
More cuts to gov departments incoming ! 😂😂😂😂
It’s all down to Ukraine though 🙄
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Post by baggins on Sept 28, 2022 16:22:12 GMT
More cuts to gov departments incoming ! 😂😂😂😂 It’s all down to Ukraine though 🙄 And Covid. Don't forget Covid. Oh, and Corbyn. |
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Post by yattongas on Sept 28, 2022 16:27:11 GMT
More cuts to gov departments incoming ! 😂😂😂😂 It’s all down to Ukraine though 🙄 And Covid. Don't forget Covid. Oh, and Corbyn. Shrink the state , all assets sold of to oligarchs, workers rights slashed , tax cuts for the rich . Brexit benefits innit ! 🇬🇧 |
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Post by baggins on Sept 28, 2022 16:30:39 GMT
Honey I shrunk the quids.
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Post by oldie on Sept 28, 2022 16:51:27 GMT
Conservative Party Conference next week, one to watch. "The Bank of England's intervention announced today was in response to a "run dynamic" on pension funds, Sky News' economic editor Ed Conway has been told. If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said. "It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained. "It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse. "I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was. "It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments. "The scale of this crisis is now becoming clearer. "We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event. "They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before." " Over dramatising as always 🙄 Have you seen how Ed Milliband eats a bacon sandwich? 🤮 😂😂😂 Precisely |
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Post by stuart1974 on Sept 28, 2022 17:03:21 GMT
Conservative Party Conference next week, one to watch. "The Bank of England's intervention announced today was in response to a "run dynamic" on pension funds, Sky News' economic editor Ed Conway has been told. If the bank had not intervened, there would have been "mass insolvencies of pension funds by this afternoon", he said. "It's very similar in kind of wholesale terms to what we saw with Northern Rock when there was that run on that bank back in 2007," he explained. "It's a vicious cycle. Essentially, people trying to withdraw money, which in turn sometimes leads inevitably to financial collapse. "I am told there were a swathe of pension funds that, were it not for the government's intervention, would have essentially collapsed by this afternoon - that's how fast moving this crisis in the pensions markets was. "It is the gilts market that lies underneath, that defines benefit pension schemes, all of whom are reliant on that market for their funding and for the structure of their investments. "The scale of this crisis is now becoming clearer. "We have seen a big reaction in those markets where the bank has gone and started to buy those securities, but it is an extraordinary day and an extraordinary event. "They believe that they may have done enough now for the time being, it's a two-week course of emergency buying of some of these assets, but we have never quite seen anything like this before." " It's almost incomprehensible,genuine question do you think they don't understand or they don't care? Both, ideology meets stubbornness. |
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Post by fintanstack on Sept 28, 2022 17:30:27 GMT
Tories have never cared about poor people.
This lot are just more brazen about it.
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Post by yattongas on Sept 28, 2022 17:54:12 GMT
Winning ! Trust Truss 🇬🇧
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Post by oldie on Sept 28, 2022 17:55:36 GMT
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Post by oldie on Sept 28, 2022 17:56:25 GMT
Tories have never cared about poor people. This lot are just more brazen about it. Don't do that. It's much more incompetent than that |
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Post by popuppirate on Sept 28, 2022 19:56:08 GMT
Why on earth was Truss voted in I wonder ? The Conservative party membership are either stupid or racist or both as far as I can tell, although I'm sure a number of them are considerably better off than they were this time last week. Rather fragile this capitalism after all, by the sounds of things it was very close to pensions disappearing in a puff of smoke. I wonder who will foot the bill for all of this ?
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Post by yattongas on Sept 28, 2022 20:07:41 GMT
Why on earth was Truss voted in I wonder ? The Conservative party membership are either stupid or racist or both as far as I can tell, although I'm sure a number of them are considerably better off than they were this time last week. Rather fragile this capitalism after all, by the sounds of things it was very close to pensions disappearing in a puff of smoke. I wonder who will foot the bill for all of this ? Her backers in 55 Tufton St wanted her in place to carry out their wishes . |
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Post by oldie on Sept 29, 2022 2:49:53 GMT
Why on earth was Truss voted in I wonder ? The Conservative party membership are either stupid or racist or both as far as I can tell, although I'm sure a number of them are considerably better off than they were this time last week. Rather fragile this capitalism after all, by the sounds of things it was very close to pensions disappearing in a puff of smoke. I wonder who will foot the bill for all of this ? It t was the Defined Benefit schemes that were under threat as they hold a considerable amount of Government Bonds. Given the yield increases they were about to offload them which would have devastated the Bond market and it is those that BoE stepped in and bought off them. Quantitative Easing, again, just when they wanted to do the opposite to try and put the brake on inflation. This is disorganised chaos, started by an incompetent Government. |
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Post by fintanstack on Sept 29, 2022 4:17:53 GMT
Why on earth was Truss voted in I wonder ? The Conservative party membership are either stupid or racist or both as far as I can tell, although I'm sure a number of them are considerably better off than they were this time last week. Rather fragile this capitalism after all, by the sounds of things it was very close to pensions disappearing in a puff of smoke. I wonder who will foot the bill for all of this ? It t was the Defined Benefit schemes that were under threat as they hold a considerable amount of Government Bonds. Given the yield increases they were about to offload them which would have devastated the Bond market and it is those that BoE stepped in and bought off them. Quantitative Easing, again, just when they wanted to do the opposite to try and put the brake on inflation. This is disorganised chaos, started by an incompetent Government. Started by an incompetent government to fix problems created by an incompetent government. |
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