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Looks like a load of tired old A-Level Economics clichés from Bailey and the rubbish BoE.

Britain's low productivity today is *entirely* due to the bloated state (public) sector. Absolutely amazed at how few people realize or understand this. The average UK state employee, from Whitehall penpushers to Inverness binmen, produces the same output per-head in 2024 as they did in 1996! Three decades of Internet, smartphones and email have completely passed them by. Until we fix and rightsize the chaotic public sector, the UK's productivity nightmare is going to continue (and get worse) for decades to come. We need a Musk or a Trump in the UK, with the nous and drive to fix it.

It says a lot about the state of the country, when the economic, political and geopolitical saviour of the UK is not Starmer, but Trump. Just in the last few days, we've seen reports on how Trump will save the Chagos Islands, keep Brexit in place, and now he's going to give us a top trade deal. Our UK "leaders" today are almost certainly the weakest we've ever seen in the past 1,000 years of this sceptered isle.

Sounds like a good old-fashioned clash of egos and wrestle for power control among the staff at the FOS and FCA.

Blowing £350b of taxpayer money, in exchange for (literally) 0% extra longterm GDP growth, is not "growth". It's a "tax and spend" neo-Marxist frenzy by manic 6th-form ideologues. Think Wolfie Smith. Not Adam Smith.

Old Conroy was a great leader. Started CGNR in 1995. Zero gold sold by 2025. A third of a century. Shareprice since launch has collapsed -99.999%. Three decades of "pump and place". Raking in the millions. Always sure to place "professor" at the front of his name, to remind us all how clever he was. A great leader of his time 👍

Nope.

Breaking up a big company with scale, into small companies without scale, never works.

LLOY stock has soared +100% in the past 4 years since Q3 2020. That's a better performance than even the benchmark S&P 500 (+50%).

Strongly recommend everyone read Musk's Twitter thread yesterday on UK industrial electricity prices being (by far) the highest in the world.

The world's richest man is slamming the UK's economic policy on an almost daily basis at the moment. He can see the insanity.

Well worth a read...

https://x.com/elonmusk/status/1854600534667542850

Truss's budget rattled the markets because she sidestepped the OBR and IMF. Reeves has learned from this, and sought their public approval before the budget. Truss was right on the economics, but wrong on the politics. Reeves is wrong on the economics, but right on the politics.

Ultimately, however, Britain's pseudo-Marxist obsession with "tax and spend" economics this century is clearly failing. Tax strips wealth by menace from the productive private sector, and hands it to the un-productive public sector. This is reducing growth and reducing wealth and reducing GDP. Just compare the low-tax US economy with the high-tax UK. US GDP per-head now sits at $87k, while the UK languishes around $63k (lower than Guyana). US net wealth per-head sits at $550k, with the UK half that at $300k. We need to change course. The facts are clear. Tax and spend is not working.

Labour know *exactly* what they're doing. A great and deliberate transfer of wealth, power and control from the private sector to the public sector has begun. A new Marxist age is underway.

It's about secret commission. Hidden commission. Clandestine financial deals. Overpriced loans. Mispricing.

Comrade Starmer is not going to miss a golden chance to soak the capitalist exploiters of the West. The banks are gonna get their pants pulled down.

The UK is a syndicalist state, with a thin veneer of ceremonial democracy.

Nope.

The Tories have already overtaken Labour in the polls. They've overtaken Reform (by a mile). And it's barely 100 days into the new term. Labour is almost certainly a 1-term party. Most of the Western world is now swinging back to the centre-right, from Italy to the US, and the UK won't be immune to that cultural shift.

https://www.spectator.co.uk/article/tories-overtake-labour-in-sunaks-final-poll/

Dow today set to rise 1,000 points.

FTSE 100 set to rise 100 points. The market likes a Trump landslide win.

We really can't criticise the US for state tyranny. It's not Trump who's arresting his own citizens for political dissent on social media. Or halting the Free Speech Act (2023). It's Starmer.

Trump has won 👍

..."America will be a divided nation as never before "...

Wish people would stop spreading that tired old myth and trope. Often spread by the far-left.

It's called "democracy". Not "division".

Half of America believes in capitalism and freedom. Half of America believes in neo-communism and state oppression. And they're debating it out, on social media and in the voting booth. That's democracy.

Predictions, and result reactions.

Betting markets, as of 10mins ago, predict the Donald to win.

Buffett appears to be readying for a Wall Street crash. He's been selling up big for weeks. He (nearly) has more free cash than the entire GDP of Scotland, Wales and Northern Ireland combined. Quite astonishing.

UK gilt rates are now spiking HIGHER than after the Truss budget.

To repeat... gilts are in a *worse* state after Reeves in 2024 than after Truss in 2022.

Let that sink in.

https://order-order.com/2024/10/31/reeves-trashes-the-gilt-market-rates-spike-higher-today-than-after-the-truss-budget/

The Labour budget is really kicking in now. The pound is down, gilts are down, FTSE is down.