Johnson’s speech

Bloomberg is reporting that traders are bracing themselves for a fall in the price of sterling and stock traders are preparing for a bear market, which bears (sorry) out what economists are expecting to happen with after the illiterate speech waffled by our clown leader.

Traders are expecting to see a 10% decline this winter. Inflation is eroding buying power and topped 4% on Wednesday the highest since 2008.

The winter is looking very difficult.

.... the Adam Smith Institute describing the speech as economically illiterate, echoed by other right-wing think tanks like the Taxpayers' Alliance and Institute for Economic Affairs. Businesses are describing the speech as incoherent, and have accused the Prime Minister of treating them like a "bogeyman" over labour shortages.

The above is from the New Statesman morning email. They don't seem to like it on the Right.

Interesting those most vociferous in their support for Brexit are beginning to be the loudest critics.

I quite enjoyed the speech but not Starmer's. Funny really I vote labour but I thought Boris speech more hopeful and I like his witticism. No hope for me I suppose. No doubt DD2 will need to put me straight.

Mind you it isn’t just the Adam Smith is it? Many others agree with the opinion.

Takes one to know one.

Whitewavemark2

Adam Smith institute - right wing think tank.

Johnson’s economic are illiterate.

Problem is, the Adam Smith Institute's economics are illiterate, too...

Disruption might be the aim as there's money to be made out of chaos.

This book tells you how to do it. It's co-written by the father of someone Boris Johnson knows very well. Ever wonder why Mogg wanted Brexit? His business made millions out of Brexit. Text book result.

I think he believes that disruption will get him what he wants. It would be nice if we knew what that was. We know he lies to set up his next move (bendy bananas, etc.,) so where are his lies taking us now?

The problem with throwing everything up in the air - which he has done and is doing - is you have no idea where they will land. Our lives will become so precarious. Villians will certainly make hay out of the chaos. I do appreciate that will be okay with some of the Conservatives on here. But we also know who is going to suffer most and they don't seem to care about that, sadly - unless it's them of course.

Adam Smith institute - right wing think tank.

Johnson’s economic are illiterate.

I turned Radio Scotland off as the MP being interviewed would not / could not answer the presenter and just waffled. No information at all.

Whitewavemark2

A governments job is to provide food security, energy security etc

It is doing none of these

Very true.

From the right-wing Spectator.

But a gas shortage will cause huge disruption to the economy, widespread shortages and a political crisis from which even the Johnson administration, with its formidable ability to bounce back, may not recover.

It would be a pity to try and explain the second link JaneJudge gave us as it is a really comprehensive collection of front pages of today's newspapers and their comment from The Week.

Worth the click for those who don't mind reading outside their bubble.

Just a taste to encourage:
The Times heading is; "PM hit by business backlash"
The Telegraph "PM pledges no homes on green fields."
The Gardian "Business anger at 'vacuous and bombastic' PM speech.
The Financial Times main heading is "Gas markets whipsaw after Putin offers to stabilise energy prices" with a smaller "Finger pointing Johnson sticks to migrant line".
The Daily Mirror "Senseless Slaughter" (with a picture of a pig and a picture of Boris).
The Daily Mail "Queen's Sheikh Friend Hacked Peer's Phone" with a smaller "Booster Boris's Tory Love In"

Appologies for saying the first lot were quotes from the Economist. Both were from The Week. They have similar typefaces.

Listening to R4 - minister - clueless.

Very very worrying indeedn

ayse

Whitewavemark2

Just listening to R4 and business leaders.

Blimey! It is worse than I really appreciated.

More details please?

They also said that the cost of production even before they factor in energy costs have risen so much that their profitability is under severe pressure as they don’t think that they will be able to pass on the entire rise is price rises.

This will mean that our businesses will not be so attractive inward investment.

A perfect storm.

Sorry, whilst I was writing and making tea all was explained.

Whitewavemark2

Just listening to R4 and business leaders.

Blimey! It is worse than I really appreciated.

More details please?

A governments job is to provide food security, energy security etc

It is doing none of these

MaizieD

Ladyleftfieldlover

How long have the Tories been in power? Over a decade I think. So where have they been going wrong and what happened to their previous promises given at various conferences and hustings?

You have to understand that Johnson had nothing at all to do with those previous tory governments. Despite being an MP since 2015, and Foreign Secretary in May's government, he loathed every minute of their destructive rule and couldn't wait to wrest power from them so that he could implement his liberal, caring and far seeing ideas about how the country should be run.

(Am I doing this right?
When Priti Patel's thought police come searching GNet for signs of dissenters from worship of Our Glorious Leader, will I slip through their net?)

Only if you were not a teacher or a member of the legal profession Maizie. These things follow very well known steps. If you were there is probably no escape.

The 'levelling up' premium for teachers isn't a new idea. It's been done before.

Defenders on twitter were saying that there are lots of new policy announcements in the pipeline. You just don't 'do' policy announcements in a leader's end of tory conference speech...

So I continue to wait with bated breath.

It seems that some businesses have hedged on energy. So what they are doing is cutting production to the hedge as they simply can’t afford to pay more.

In some cases they will be stopping production entirely and mothballing.

The article ends with an attempt to capture the speech under the heading "Bluster". It doesn't give any conclusive facts.

Just listening to R4 and business leaders.

Blimey! It is worse than I really appreciated.

"Crime" only has points of the speech and no conclusion. In the Econimists defence, these are not directly econonmic areas and we were given no economics (costs) in the speech.

"Vaccine capitalism" concludes:

Actually it doesn't. It seems they put forward no opinion - just Johnsonisms.