Philip Hammond went to Wall Street.
His job was to talk up the pound.
It fell 10 percent.
A man with the gift of the gab, very clearly.
What's his next party trick?
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Hammond is proof that if you stick around long enough you end up with a top job.
Can you imagine the news headlines if this was happening under a Corbyn lead government. The degree of bias in our media is now blatantly truly shocking.
Hammond is a plausable not very nice politician. He us happy thevpound falls. He and those in the right wanting hard brexit see the pound as an opportunity to promote big business through export advantage through historically low pound AND still have an Austerity where the burden of cost falls on the rest of the population through import induced higher prices.
Sorry about arthritic finger typos
Well, manufacturing and SME’s seem to have considered the pund ‘overvalued.’ it’s all a question of what angle you look from.
traditionally there is an obsession with a strong currency and ‘national pride.’
In reality it is a beggar thy neighbour appraoch to trade.
Hammond upping the xenophobic as well:
“Hammond told Bloomberg TV: “The problem is not highly skilled and highly paid bankers, brain surgeons, software engineers. You will not find, if you walk around towns in Britain and ask people how they feel about migration, that they a have problem with people with high skills and high earnings coming to the UK … they recognise that those people are a positive contribution to the UK economy. The issue we have to deal with is people with low skills competing for entry-level jobs.”
This crap is aimed at:
1) Labour party voters who went over to UKIP
2) Conservative voters who went over to UKIP
May be crap in your eyes but essentially true!
“”The most recent research from the centre for economic performance at the London School of Economics says “the areas of the UK with large increases in EU immigration did not suffer greater falls in the jobs and pay of UK-born workers. The big falls in wages after 2008 are due to the global financial crisis and a weak economic recovery, NOT TO IMMIGRATION.”
http://www.theguardian.com/politics/2016/may/20/reality-check-are-eu-migrants-really-taking-british-jobs
let’s see this stuff for what it is, Peter: Vile xenophobia
To be fair, it does appear that the flash crash in the exchange rate was due to human/computer error so probably a little harsh to lay it at Hammond’s door. That said, it doesn’t say a lot for a system which can obviously go so catastrophically wrong with nobody really having a clear idea of the cause!
And if this had happened under Labour?
Whose fault woukd this be then!
Indeed- as soon as May mentioned the role of Government, it became a Daily Torygraph headline – if Labour say this they are trots and Marxists.
Duncan Smith displayed the classic venal nature of the politician when he blatantly blamed the financing crash on Labour -barely a murmur from the MSM!
what I have been trying to establish is whether a member of the Trans Pacific Partnership, or any of the other big trading organisations, can offer a deal to Britain while being part of such an organisation. If Australia did so, would not their trading partners object? If they do, doesn’t this mean that all these ‘free trade deals’ can’t happen?