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BBC News 10pm is blowing Labour apart.

Raising every issue and highlighting it for the simple BBC watcher to watch ;-))

BBC reporters saying all these headlines wasted on just one day ;-))

Jowell, Kelly, Hewitt, Clarke and Prescott - all getting beheaded

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BBC News 10pm is blowing Labour apart.

Raising every issue and highlighting it for the simple BBC watcher to watch ;-))

BBC reporters saying all these headlines wasted on just one day ;-))

Jowell, Kelly, Hewitt, Clarke and Prescott - all getting beheaded

and continuing on Newsnight now :)

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What a phoney!!!

Clarke only came out about the release of foreign prisoners because a group of MPs were going to confront him after they found out the information.

So he wanted to get it out first.

Time to go!!!

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and continuing on Newsnight now :)

Looking back at the Major years, politicians had some sort of decency. At least they resigned when they were caught being incompetent, screwing their secretary, or thieving.

New Labour seems to think they are above the law. Hopefully Clarke will go, but Im not holding my breath.

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No, DelBoy, that's a missuse of the term "BLACK WEDNESDAY".

A Black Wednesday is a very special day when the accumulated gross incompetencies of a Tory Chancellor and government bring the nation's currency to it's knees. Billions of Pounds of taxpayers money are thrown at the market and go straight down the Swaney. It's when interest rates are raised by two percentage points to about 15% but to no avail. (HPC interest - Just as an example, that means an IO mortgage of £200k costing £2500 PER MONTH - £30,000 p.a.!)

A Black Wednesday is a day which placed a Tory Party that had been extremely successful over many decades on the road to the wilderness from which they're yet to emerge, if they ever will.

Today is just a fairly bad day for Labour - just 'events, dear boy' that's all, and soon forgotten.

p

Edited by patprimer74

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Looking back at the Major years, politicians had some sort of decency. At least they resigned when they were caught being incompetent, screwing their secretary, or thieving.

New Labour seems to think they are above the law. Hopefully Clarke will go, but Im not holding my breath.

He's on is way out. I bet there's a crime been commited by one of the released, and that will be Clarkes downfall.

From what I presume was PM's Question Time today as I understand it, Blair was basically saying Clarke had handed in his resignation yesterday and Blair rejected it. Today Blair said he didn't know the extent of the problem at the time... joined up goverment.. they couldn't organised a piss up in a brewery :angry:

-- CORRECTION --

Sorry, Clarke tried to resign TWICE .. see Clarke resignation 'refused twice' from the Guardian

Edited by beerhunter

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Wait for Friday week after the local elections. Looks like Labour may be about to get slaughtered in London!

If Labour lose control of Camden in particular - their flagship London council - expect heads to roll!

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No, DelBoy, that's a missuse of the term "BLACK WEDNESDAY".

A Black Wednesday is a very special day when the accumulated gross incompetencies of a Tory Chancellor and government bring the nation's currency to it's knees. Billions of Pounds of taxpayers money are thrown at the market and go straight down the Swaney. It's when interest rates are raised by two percentage points to about 15% but to no avail. (HPC interest - Just as an example, that means an IO mortgage of £200k costing £2500 PER MONTH - £30,000 p.a.!)

A Black Wednesday is a day which placed a Tory Party that had been extremely successful over many decades on the road to the wilderness from which they're yet to emerge, if they ever will.

Today is just a fairly bad day for Labour - just 'events, dear boy' that's all, and soon forgotten.

p

Quit your spin about the 15% business.

The currency speculators' attack

When the French referendum on the Maastricht Treaty yielded a yes vote, the attack, which had gathered force over the first fortnight of September, concentrated on the Italian lira and the pound sterling. Speculators borrowed pounds and lire and sold them for DM, in the expectation of being able to repay the loan in devalued currency and to pocket the difference. On September 16 the British government announced a rise in the base interest rate from 10% to 12% in order to tempt speculators to buy pounds. Despite this and a promise later the same day to raise rates again to 15%, dealers kept selling pounds. Major currency traders like Goldman Sachs knew what the British Government was trying to do and knew that the international money markets would eventually prevail against the efforts to prop up the pound. This amounted to a major transfer of wealth from the government to the speculators, both individuals and investment banks. By 7pm that evening, Norman Lamont, then Chancellor, announced Britain would leave the ERM and rates would remain at 12%.

from wikipedia.

Edited by megaflop

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Wait for Friday week after the local elections. Looks like Labour may be about to get slaughtered in London!

If Labour lose control of Camden in particular - their flagship London council - expect heads to roll!

Yes, have to agree. I think Labour are about to get a 'bloody nose'.

I should be a dyed in the wool Labour voter. I was 13 when the Tories won in 79 and I spent most of the Thatcher/Tory years gagging for Labour to have a chance to see if they could do any better/different. All the Blair years have confirmed for me is the old adage "whoever you vote for the government wins" (along with a dash of "we are led by fools who waste our lives").

How sad that practically an entire nation can be so entranced by useless gadgets and equally useless celebrities.

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Quit your spin about the 15% business.

Check the highest that they went to during that fateful day. The Tories' attempt to buck the market failed and the rates were brought down later in the day.

But, it's a nice round figure to throw at you over and over and over again. The public believes it - that's why they won't give the Tories the chance to mess up the economy again. Hence Labour's 150+ majority over the Tories.

p

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How sad that practically an entire nation can be so entranced by useless gadgets and equally useless celebrities.

That's just the HPC.CO.UK spin view.

We have as much spin as Labour at times.

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Guest muttley

Quit your spin about the 15% business.

from wikipedia.

I seem to remember that they did rise to 15% that day, but when that made no difference we withdrew from the ERM and put the rates back to where they were.

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Aunty is having a right good go at Labour.

Opposition urge Clarke to resign

http://news.bbc.co.uk/1/hi/uk_politics/4946566.stm

Hewitt heckled by furious nurses

http://news.bbc.co.uk/1/hi/health/4943596.stm

Prescott admits to having affair

http://news.bbc.co.uk/1/hi/uk_politics/4945170.stm

Jowell defends club's lotto cash

http://news.bbc.co.uk/1/hi/england/manchester/4939644.stm

Higher targets for five-year-olds

http://news.bbc.co.uk/1/hi/education/4946880.stm

Point-by-point: Prime Ministers Question time

http://news.bbc.co.uk/1/hi/uk_politics/4946486.stm

Wonder if this had anything to do with it...

Jowell warns BBC on licence fee

http://news.bbc.co.uk/1/hi/uk_politics/4928684.stm

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Quit your spin about the 15% business.

from wikipedia.

Regarding the real 'Black Wednesday', for any youngsters here the George Soros bit of the story was very interesting. He made a billion US dollars in one day. Of course, one man made a huge sum whilst most of the UK was sh*tting themselves. I remember listening to the radio as the story unfolded and you can imagine what the reaction was like as people's mortgages leapt from 10% to 15% in one afternoon!!!

(From Wikipedia) - On Black Wednesday (September 16, 1992), Soros became instantly famous when he sold short more than $10bn worth of pounds, profiting from the Bank of England's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency. Finally, the Bank of England was forced to withdraw the currency out of the European Exchange Rate Mechanism and to devalue the pound sterling, and Soros earned an estimated US$ 1.1 billion in the process. He was dubbed "the man who broke the Bank of England."

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Check the highest that they went to during that fateful day. The Tories' attempt to buck the market failed and the rates were brought down later in the day.

But, it's a nice round figure to throw at you over and over and over again. The public believes it - that's why they won't give the Tories the chance to mess up the economy again. Hence Labour's 150+ majority over the Tories.

p

20% during ONE DAY ONLY.

Try telling this to the 20 somethings who dont soon wont be giving a shit about anything because they can afford bugger all. They'll be voting Tory like nobody's business ;)

Interest rates were 15% in 89, and fell to 12% in 1990. 12% was the avg for the early 80s. That's avg + 25%.

This just shows how over-borrowed SOME people were.

The beeb may as well have a go at new labour. Now that no political parties love them any more.

Edited by megaflop

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Just as an example, that means an IO mortgage of £200k costing £2500 PER MONTH - £30,000 p.a.!)

A Black Wednesday is a day which placed a Tory Party that had been extremely successful over many decades on the road to the wilderness from which they're yet to emerge, if they ever will.

p

There probably wern't many 200k IO mortgages in 1992, houses were much cheaper. By the way, guess who had the ERM at the core of his shadow economic strategy......Gordon Brown.

It does seem to be a flaw in our democracy that people will vote for war-mongering, pro immigrant, big spending, incompetent, lying champagne socialists -just to keep the Tories out! (i.e Patprimer the other 20% of the electorate who voted for them) Choice?

Long term rates have actually been falling since about 1990 (up to about 10 months ago) which is ironic, but the damage to the Tories is pretty close to fatal. I reckon it would take a HPC on Labour's watch to give them any chance at all.

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QUOTE(Diddad @ Apr 26 2006, 11:10 PM)

How sad that practically an entire nation can be so entranced by useless gadgets and equally useless celebrities.

That's just the HPC.CO.UK spin view.

We have as much spin as Labour at times.

As far as I am concerned, the majority of people in this country spend an inordinate amount of time and effort concerned with nonsense like celebrity and shopping when they could be spending a bit more focusing on the major problems in this country and around the world. That's not spin, that's my opinion.

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Which, Mr Hasselhoff fan, is precisely why they threw the last election.

I mean, who around here is interested in IMMIGRATION?

:unsure:

edit: spelling mistakes

Edited by megaflop

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Quit your spin about the 15% business.

from wikipedia.

Black Wednesday - 16th September 1992

Coming up to Black Wednesday the foreign exchange market had believed that sterling would have to be devalued as it had been consistently close to its lower limit and very weak. They had therefore been selling intensively.

On Black Wednesday the selling pressure intensified considerably and during the course of the day interest rates were raised twice; the first time from 10% to 12% and the second from 12% to 15% (with effect from the next morning).

Info from here

As stated, on that fateful day, Interest Rates were raised from 10% to 15% - the second rise to take effect from the next morning. People with big mortgages were listening to radios all day as the drama unfolded and many people were damn nearly suicidal.

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Black Wednesday - 16th September 1992

Coming up to Black Wednesday the foreign exchange market had believed that sterling would have to be devalued as it had been consistently close to its lower limit and very weak. They had therefore been selling intensively.

On Black Wednesday the selling pressure intensified considerably and during the course of the day interest rates were raised twice; the first time from 10% to 12% and the second from 12% to 15% (with effect from the next morning).

Info from here

As stated, on that fateful day, Interest Rates were raised from 10% to 15% - the second rise to take effect from the next morning. People with big mortgages were listening to radios all day as the drama unfolded and many people were damn nearly suicidal.

why suicidal if you had a 10 year fixed morgage - just put extra cash in the bank and laugh!!

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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