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Anyone else been eagerly awaiting the NY Times' take on the last few days in the UK? 🙃https://t.co/PughFxETbe pic.twitter.com/2E8xCmrGsX
— Oliver Barnes (@mroliverbarnes) September 28, 2022
This was a really illuminating discussion on Al Jazeera yesterday with @realVickyPryce and @brianmlucey about what’s actually happened and what happens next: https://t.co/A78QzThD12
— Jonathan Lis (@jonlis1) September 28, 2022
“the City of London economist Dario Perkins, who declared that the problem with the budget wasn’t that it was inflationary but that it was “moronic,” and that an economy run by morons has to pay a risk premium” @paulkrugman #UKPolitics #UKEcon https://t.co/DHF1q2YySQ
— 💧Vince Mahon (@vjmahon) September 28, 2022
An under-appreciated benefit of US home finance policy since the New Deal: our non-reliance on floating rate mortgages and frequent rollovers, which were common in US housing markets before 1933, affords Fed more flexibility than BoE has at present. https://t.co/T6oOYiKSec
— Robert Hockett (@rch371) September 28, 2022
So why the sudden run on the pound? The City of London economist Dario Perkins declared that the problem with the budget wasn’t that it was inflationary but that it was “moronic,” and that an economy run by morons has to pay a risk premium.https://t.co/1kWjuvDscT
— Nicholas Gruen (@NGruen1) September 28, 2022
https://t.co/r6Oh2fiMR3 This by @paulkrugman made me think that the domestic politics of Liz Truss's "fiscal event" are not dissimilar to Putin's "military operation." Don't call what you are doing what it is, because if you spoke plainly, the downsides would be more obvious.
— Henry Farrell (@henryfarrell) September 28, 2022
The last pathetic gasp of trickle down... https://t.co/ritU1mdXEl
— Occupy Wall Street with a General Strike (@OccupyWallStNYC) September 28, 2022
A @paulkrugman column on the a lack of faith that the BOE will follow through with sufficient rate hikes because of all the floating-rate mortgages and the potential massive hit to consumer balance sheets. That explains the persistent pound weakness: https://t.co/nICZGRAh3x pic.twitter.com/1tzyJadZqs
— Lisa Abramowicz (@lisaabramowicz1) September 28, 2022
Commentary: What next after British pound falls to all-time low? https://t.co/ri1l6J5RMm pic.twitter.com/lAgIvjVuxv
— CNA (@ChannelNewsAsia) September 27, 2022
British pound collapse at centre of global currency and financial storm https://t.co/iGE5yfSTtI
— dante pastrana (@9dante) September 28, 2022
British pound collapse at centre of global currency and financial storm https://t.co/vBDYmdsuF6
— Nick Beams (@BeamsNick) September 28, 2022
The turmoil reached a new level of intensity this week, sparked by the reaction of financial markets to the UK mini-budget, which handed out £45 billion in tax cuts to the wealthy while increasing government debt by £72 billion. https://t.co/F0Pi4L070h
— World Socialist Web Site (@WSWS_Updates) September 28, 2022
British #poundcollapse at centre of global currency and financial storm - World Socialist Web Site#PoundSterling #PoundCrash #FinancialCrisis #CurrencyCrisis https://t.co/tEjhM4Xg8X
— Trotskyism (@10DaysThatShook) September 28, 2022
The IMF is very conscious that the blatant handout of billions of pounds to the rich and super-rich, lifting inequality to new record highs, will make even more difficult the task of the trade unions in suppressing the struggle for wage increases. https://t.co/WnffeykfnW
— Socialist Equality Party (Britain) (@SEP_Britain) September 28, 2022
British pound collapse at centre of global currency and financial storm - World Socialist Web Site https://t.co/DeIRkg1rZa
— Daniella Modos - Cutter -SEN #SEP (@DmodosCutter) September 28, 2022
Bond prices are falling and yields rising at an alarming rate, threatening to destabilize global markets.
— Cygnus X-321 (@cygnus_321) September 28, 2022
Unedited >> https://t.co/LaUz2nLOqC << pic.twitter.com/DPrxbJ3EJh
“It’s just a question of time before it falls out of the top 10 economies in the world,” Mr. Goldin said. Britain ranks sixth, having been surpassed by India.
— Fink Arder (@finkarder) September 29, 2022
https://t.co/ROO9qK4Hm3
Why Is the British Pound Getting Pounded? https://t.co/31kxmsfAW0 @paulkrugman Truss going "all in for zombie fiscal policy" Consistent with my take https://t.co/hmkwnDDTjJ
— John Van Reenen (@johnvanreenen) September 28, 2022
It's not just about Britain. This is an extraordinarily hostile move on international markets The collapse of the British pound & Bond markets could bring the demise of the entire system of fiat currencies, based on the US dollar.https://t.co/QHpqDFPMdM
— Jo.#NoBritishZEDES#Navalny #FreeAssange (@GodwinAdamsonJ1) September 28, 2022
UK Braces for a Spectacular Economic Disaster as the Pound Nosedives https://t.co/JeIIKdAp9f @maidros78
— Janamejayan (@Janamejayan) September 28, 2022