Member Info for TheFarEnd

Even a cursory look at the OBR’s personnel gives you an idea of which school of thought its leaders belong: both the chair of its Budget Responsibility Committee and its Deputy Chief of Staff are former colleagues or protégés of Torsten Bell, chief executive of the left-of-centre* Resolution Foundation.
The main players involved have made some spurious prediction's in the past yet for some reason they are accepted as all knowing and their word is god.
Here's a flavour from Laura Gardiner, OBR Deputy Chief of Staff responsible for policy costings, expenditure, receipts and fiscal risks. Formally served as a “Lambeth Equality Commissioner. She claimed it “makes sense” to bribe 25-year olds with £10,000 handouts – an £8 billion-a-year policy which was soon swept under the rug, presumably once everyone realised how bonkers it was, (responsible for fiscal risks lol). She also attacked the government for “the era of austerity“, and proposed reforming Universal Credit.

The OBR has never endorsed tax cutting. Is it any wonder that Kwasi didn’t fancy having his plans benchmarked by known ideological opponents who favoured staying in the EU and egalitarian redistribution on a gargantuan scale. It doesn’t take a great insight to guess what the OBR will say when a budget that doesn’t align with their values and objectives lands on their desks.

The fact seems to be established that without its explicit blessing, how can any fiscal policy ever be trusted.
We now know why the mainstream news outlets keep going on about the 'all knowing' OBR.
The OBR didn’t even exist until 2010 and quickly filled up with disgruntled labour losers.
How is it that out of the thousands of economists turned out by British universities every year, the OBR over and over again keeps hiring senior economists from the one think-tank run by Labour’s former policy chief? What are the odds?
A bit like this BB has started to fill up with brexit losers.
Enjoy your weekend.

I see Lloyds is trailing every suggestion except RR!
Just saying.

It's a hard life down there on the south coast. :-)

A classic Gazzleberry oxymoron moment defending the press, quote….
"The media doesn't report on what hasn't happened. It reports on what has happened."
In Gazzleberrys mind the press is never wrong and never issues apologies because they only report what has happened.
Then soon after this…
"Anyone who takes anything at face value is an idiot."
So, just don't believe what you read. Oxymorons may seem illogical at first, but in context they usually make sense but alas not in this case. Just simply a moron.

Nothing wrong with a sherbet everyday Brix, I stand by it.

"Shrinkflation and inferior substitute ingredients in food are now one of the clever deceptive marketing tricks used by supermarkets to enhance their profit margins."
Not so clever in our household.
We have found on certain items, apart from the size deduction, the substitute ingredients are now so inferior that we shop more and more at premium outlets.

Re CNA, I'm still showing a good profit here after the recent fall which I'm equating with the also recent sketchy labour announcement of a so-called nationalised GB energy company. Can't believe Starmer is quoting EDF as an example. As Daft would say DYOR.

I see Rachel Reeves is still banging on about the £65 billion the BoE has spent latest figures today confirm they have still only spent £3.66 billion.
Yesterday and today they didn't purchase any gilts, = zero spend.
Load of noise from the left brigade over nothing. Lol.
More inaccuracies from the lying socialist scum, and Reeves calls Tory's scum.

"To be honest, I would have gone into the Euro. Given the exchange rate v sterling when the Euro started and now it would have been a wise decision. I was disappointed at the time."
I wonder if he's disappointed now?
It would have been the absolute worse decision the UK could have made. One of very few decision's Brown got right. We didn't meet the criteria at the time.
Btw, Scotland doesn't meet any criteria to join the Euro and never ever will if some on here fulfill their dream.

Keep up mick-b the BoE spent all of £22 million yesterday buying gilts.
Another one trying to regurgitate old news.

Prats, the lot of you. You know who you are.
Yep you're one alright Lokiloo.
I believe it's past your bedtime.

For all the loud baying lefty's shouting one after another the BoE has been forced to spend £65 billion to support the pound.
You might be interested to know (probably not really as you seem to know it all already) but I'll carry on anyway. Today the BoE spent £22 million, yes just £22 million today buying gilts.
And there's me thinking pensions were under threat and the whole system was in meltdown.
Prats, the lot of you. You know who you are.

"Central bank has bought £3.7bn worth of government debt out of a possible £20bn since scheme launched.
The Bank of England on Monday bought just £22mn of bonds under its operation to soothe strains in the gilt market, in the latest sign that the central bank has so far succeeded in halting a chaotic sell-off without spending anywhere near its maximum £5bn daily purchases."
https://www.ft.com/content/ce3becd7-4098-45cc-afd5-ba145eda856a

"National Front is right wing ?"
Machiismo's party of choice after the SNP is the greens, another leftwing rabble.
Not surprising really as it's the current coalition.
Heard someone say, by the left quick march and he's been going that way ever since.

Machiismo.
What is stupid is that you think that a £2 billon tax cut out of an o/a package of £150 billion is the reason for the turbulence last week.

Your chuckle buddy has woken up this morning.
To me, to you, to me to you.

"I have posted on here for a week it was never in doubt."
Agreed BanburyB you have indeed.
Personally I thought after taking this decision they would stand by it. No matter how unpopular it appeared, there were some merits in pursuing this in that the UK alternative rate is 'internationally' too high and it would become self-financing. No bearing on exchange rates or markets, purely political.

If nothing else it's got Daft Trader actually writing something on here instead of the usual copy and paste.
Still no clues where his political allegiances lie, he'll just bend with the wind.

It is what it is, move on.

Barrel of laughs this machiismo I see Scotland are set to gain an unexpected £600 million courtesy of the Tory's.
Meanwhile Scotland's mini budget has been postponed until after the SNP conference, they are too embarrassed.

Taken from Gov.uk….
"The majority of announcements today are UK-wide, however the Scottish Government is expected to receive more than £600 million extra funding over the 2021 Spending Review period as a result of the changes to income tax and Stamp Duty Land Tax and the Welsh Government will receive around £70 million over the same period as a result of the change to Stamp Duty Land Tax."

Folks on here know the next general election results two years out. Are these the same folks who were shouting from the rafters that Lloyds are about to break 50p and it will be a distant memory, that was two weeks ago not two years. It's a laugh a minute,
I'm off down the juicer.

"Yeah ! With the BOE stepping in to steady Sterling by buying £64B of Gilts after the bond market took fright"
This action has highlighted DBenefit pension set up with the use of LDI's.
The fact that the rate went against them and the yields rose and they couldn't exercise their margin calls demonstrates the fragility of the current use of these derivatives.
Never fear the old lady has bailed them out, not with £65 billion instantly but upto £5 billion per day.
"the bond market took fright" because DBenefit schemes didn't have enough liquid assets so had to sell gilts resulting in higher rates resulting in more selling.
Ring any bells?
Most no longer have D Benefit pensions it's money purchase now.
I read somewhere someone said the extensive use of LDI'S could result in another monetary crisis, so perhaps there's something good learnt from all this.
But of course the baying mob only see negatives.

"Penny Mordaunt PM....... It all could have been" different.
Sour grapes stagecoach, just a sore loser.

4.5 billion share reduction is just an arbitrary figure, it's the net reduction p.a. that counts i.e. after any new issues.
Just saying.