Economists Horrified At The Damage Reeves Is Doing.....

[ToraToraTora]

https://www.express.co.uk/finance/personalfinance/1996095/Urgent-warning-economic-crisis-looms-Reeves-cannot-make-sums-work

//I'm talking about real economists, by the way. Not pretend ones with implausible CVs.

People like Dr Andrew Sentance, independent business economist and former member of the Bank of England’s Monetary Policy Committee.

He's horrified by the damage Reeves is inflicting warning that: "Lack of confidence in financial markets is a big issue for Rachel Reeves. But she shows no interest in the issue and ploughs on regardless."//

 

[davebro3]

The money men stymied Liz Truss - pity they aren't dishing out the same medicine to Starmer/Reeves.

[ToraToraTora]

They had convulsions over Kami Kwasi's mini budget and that wasn't even implemented. If Starmer wants to survive he'll have to throw Rachel from accounts under the bus.

[dave50]

Along with the other disaster, Miliband.

[Canary42]

Shock Horror ! The super-rich don't like the Labour chancellor - who'd have thought it 🤣

[jackthehat]

I don't think the super-poor much like her either, canary.

[Deskdiary]

Canary way wide of the mark (natch).

 

Some people like it - we had one member declare it "The greatest budget ever", and another with weapons grade naivety  say, paraphrasing, he thought people were making a fuss about the ENI increasing and the threshold decreasing.

 

The ENI is (it's not a case of if) going to cause massive problems. On a personal level a mate of mine is a mechanic at a large string of dealerships in the SE, and the employees have already been told there's going to be no pay rises this year.

 

 

[ToraToraTora]

16:09 This is from an actual economist canary. The "super rich" are not mentioned. Ms Thieves would do well to consult one occasionally.

[Deskdiary]

The final paragraph in the linked article says it all...

 

"Every generation has to learn afresh that Labour cannot be trusted with the economy. Once again, it’s proving a painful and expensive lesson."

 

I do wonder, given Labour's dreadful start and the calamity budget, how long it will be before Rachel from Accounts is scapegoated.

[Pegasus16]

"Lack of confidence in financial markets is a big issue for Rachel Reeves. But she shows no interest in the issue and ploughs on regardless."//

It is a big issue for all of us, the markets haven't stopped creeping down soon after this incompetent rudderless UKGov took office. What a complete nightmare.

[fender62]

labour are idealists always have been, or just see what happens even if it's a car accident, remember they have had 14yrs to think about what they want to do, goes to show they work on the fly...0 experience.

[Deskdiary]

5.18pm - you only have too look at the front bench; pretty much all of them have no business experience whatsoever, and for the most part have suckled from the public teat, hence throwing money at their union mates.

[Peter Pedant]

"Lack of confidence in financial markets is a big issue for Rachel Reeves. But she shows no interest in the issue and ploughs on regardless."//

it is lack of confidence in the stocks innit? not the market itself

that is if a share is priced at 100p each then the stock-pickers may estimate the confidence bit is 10p and the rest is industrial value 90p

and with Truss-1 and Truss + 1 day - nothing had changed in the industrial  situation but  the confidence has been abolished. ( the average drop in value allowed one to estimate how much of a share value was confidence - but  that of course is another question).

Buy stocks that dont have a confidence element I suppose

( this is not too brainy for AB is it?)

Trump sues anyone who comes near to suggesting that the Trump empire is all puff

[Peter Pedant]

you only have too look at the front bench; pretty much all of them have no business experience whatsoever,

hi dee-dee ! yeah but  no but - if you put a doctor in charge of a hospital then you get Letby - OK he was an orthopod.

so you want administrators that are trained to administrate

BUT

Role on ENA ( a student is an enarque) ecole nationale d'administration - founded by 1945 de Gaulle no less who trained administrators for the whole of France

Disatisfaction led Macron I think to scrap them, 

In April 2021, Macron announced the closure of the school, calling the closure "the most important reform of the senior public service" since the school's creation by Charles de Gaulle in 1945. 

but ot of the ashes grew .....

[Atheist]

If economics is so easy, and real economists could sort everything out just like that, why haven't they? Surely Labour could have twigged that it was a doddle and got TTT or YMB in to help Britain? I mean, AB is here with all the experts.

[Deskdiary]

Because the real economists aren't in the Government. They've got a pretendy  economist in charge of the purse strings.

[fender62]

what they and past governments should have done is have a star room of professional economist professors from around the world with experience ie think tanks instead blind ideology, to me they are just like putting bets on without having to pay themselves...spreading the bet..

[Ryzen]

Economists are of little use to a government without ears.

[youngmafbog]

Oh look ~ Brain of Bitain has had a dig at me.  What a pillock.

[drmorgans]

 

I am puzzled. This morning's BBC Business spoke to bosses of two medium-sized businesses;  a holiday company and a nationwide estate agent. Both of them said business was booming (15-20% increase this year). Their view seemed to be that smaller businesses may struggle to cope with increases in NI and minimum wage. I am having difficulty reconciling what they said with the widespread view.

 

[Old_Geezer]

Conditions for those particular markets may mean they are on the up. It needn't be the same generally.

 

(The mods may take a dim view of the name calling ymb.)