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kxim.bsky.social @kxim.bsky.social · 14/01/2025

They've been engaging in QT since Q3 2022, with the losses associated with these sales costing the UK government c.30bn in 2023 and c.40bn in 2024. Not responsible for all of the rise in rates but definitely a big contributor and out of line with the ECB and the Fed Reserve in QT.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

Yeah agree on growth particularly in the private sector which Labour has no plan for - & yes I am inc. that crap announced on AI. But plenty of levers within their power they just aren't using to improve things e.g. telling BoE to slow QT & reduce base rates, or increasing taxes on the super rich.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

Rates have been trending upwards since 2022 to extent they have now outstripped growth + inflation. BoE has engaged in QT selling bonds since then, and chosen to accelerate it recently out of line with other countries. People have been raising concerns about the pace of QT since early 2024

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

Should clarify as well, not all of the upward pressure on rates will be a result of this quantitative tightening, as will also be impacted by global trends and risk assessments outwith our control e.g. Trump's tariffs etc. But it is the one within our control.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

We are in January. They've been selling 100 billion per year.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

The BoE can just sit with the bonds it bought from the UK government as part of QE and not offload them to private markets and prevent much of this upward pressure on rates.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

That's incorrect, BoE is offloading bonds on mass & as there is a lack of buyers (as you mentioned) this is forcing value down. As interest is inversely related to bond value, rates are going up & now higher than total of growth + inflation. Meaning debt is rising. Hence pressure to cut spending.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

I want the BoE to be told by the Chancellor using the powers she has, to stop selling the bonds they purchased during 2008 and covid at a loss and forcing up rates. Yes. And I also want the UK government's response to debt outstripping growth to be taxes on the rich, not austerity.

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kxim.bsky.social @kxim.bsky.social · 14/01/2025

Call me crazy but if we have an econonic / political model that allows an unelected body to sell UK bonds at a loss, in order to deliberately force up the cost of government borrowing (at a time of low growth & lowering inflation), to induce austerity, then we should probably do away with that model

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kxim.bsky.social @kxim.bsky.social · 13/01/2025

Looking forward to the next hose-pipe ban while an AI server consumes 500ml of water to tell someone their headaches are cancer... Or the next energy crisis, while it consumes the equivalent energy to fully charge a phone, to generate an image of a Mr Bean with tits.

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kxim.bsky.social @kxim.bsky.social · 13/01/2025

Everyone in the UK looking forward to the next hose-pipe ban, while an AI server is consuming 500ml of water to tell someone the pain in their big toe is cancer?

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kxim.bsky.social @kxim.bsky.social · 13/01/2025

I am also certain any actual benefits from the 'growth' this will drive will not end up in the hands of already wealthy private individuals and corporations.

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kxim.bsky.social @kxim.bsky.social · 13/01/2025

Has anyone explained to them the amount of energy & water consumed by servers used for AI processing, or its tendency to be super racist by exaggerating discrimination found in datasets it's trained on? I for one, am super confident they've thought all this through...

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kxim.bsky.social @kxim.bsky.social · 24/12/2024

Very true - no need for dual identities when everyone in the establishment essentially thinks the same way (with a narrow window for deviation in either direction, but with strongly defined limits), goes to the same schools, sends their kids to the same schools, works in the same industries etc.

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kxim.bsky.social @kxim.bsky.social · 24/12/2024

Right of the Labour Party tank the 2019 election, & now complaining at lefties for being critical of Keith (milk toast) Starmer, for failing to address the material issues facing people today, & instead appealing to markets, & surrendering the narrative on the big issues to Tories / Reform.

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kxim.bsky.social @kxim.bsky.social · 24/12/2024

Anyone else suspect many of the same people complaining about the overly negative representation / discussions around Starmer's government, are likely those who voted Lib Dems in 2019. We are critical of the current Labour government because we don't want a Tory / Reform a coalition in 4/5 years.

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kxim.bsky.social @kxim.bsky.social · 24/12/2024

Oh no, lost another centrist to the pit of cognitive dissonance.

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kxim.bsky.social @kxim.bsky.social · 24/12/2024

Agreed, lot more of this and a lot less of the other

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kxim.bsky.social @kxim.bsky.social · 24/12/2024

Random question - have Keir Starmer and David Cameron ever been seen in the same room together? Or is this a really shit version of the Clark Kent / Superman dual identity inserted into the context of British politics.

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kxim.bsky.social @kxim.bsky.social · 23/12/2024

This would unfortunately, give him more time for his "music".

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kxim.bsky.social @kxim.bsky.social · 23/12/2024

How'd you make a peach crumble?... Kick in it in the nuts. Some random person on the internet, "this reminds of the rotten peaches that were on my mother's dinning room when we found her decomposing body after she'd been dead for 2 weeks."

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kxim.bsky.social @kxim.bsky.social · 21/12/2024

Good see Keir (I am going to remove sleaze from British Politics) Starmer rewarding a person that's being forced to resign from government on multiple occasions due to scandals with a new role. Definitely won't back fire. Can someone check if Keir even knows how to spell competent.

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kxim.bsky.social @kxim.bsky.social · 21/12/2024

Find it very depressing & ironic, the same liberals claiming swing voters who voted Trump just didn't understand how good the economy actually was because they were too stupid & gullible, are simultaneously sharing poor quality data to support their arguments. Really feels like no lessons learned.

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kxim.bsky.social @kxim.bsky.social · 21/12/2024

Just to add to this, the data doesn't pass the sniff test at all, attitudes to personal financial circumstances might shift over a year, but it will not shift over a single month, unless (as you suggest) responses aren't actually based on real world circumstances & instead are entirely political.

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kxim.bsky.social @kxim.bsky.social · 21/12/2024

I am always confused by the sycophancy and idolatry demonstrated by Trump supporters who view him uncritically because his ideology aligns to their own. Then I see posts like this and I am reminded both sides have their share of idiots.

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kxim.bsky.social @kxim.bsky.social · 21/12/2024

If we want people to vote based on morals / values & to have the mental bandwidth to engage with politics beyond the superficial, & actually invest time to ingest news media with a critical eye, then we need to raise their living standards & give them less things in their daily lives to worry about.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

That's assumes people understand tariffs will have a negative impact, which the majority of people did not. Issue here is, people are assuming because Trump is so obviously bad for the economy, people couldn't have possibly voted for him based on economic self interest, but they can & did IMO.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

Just to add to this, I don't think people voted Trump knowing this would be against their economic self-interest, but did anyway because of cultural issues. I think they thought it was in their economic interests, or at least more so, than given Dems another 4 years whom they'd gotten poorer under.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

I think this is it. Outside of Trump's base, people who voted Trump did so for economic reasons. It doesn't matter that Trump will make things worse as most people don't understand the arguments & are voting simply based on the fact - things got worse under Dems, so let's try Trump now.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

And just to add to this - only one candidate was acknowledging people were struggling and embodied the broader feeling that things are getting worse and worse over time, and that wasn't Harris.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

I agree, though a lot of reasons some didn't see it that way. Though the main one was - Kamala was part of Biden administration & didn't differentiate herself enough, & people were poorer under Biden than they were 4 years ago under Trump - that's as much thought as many people put in to it.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

If I am a single mum working 2 jobs & still struggling to pay rent / buy food, trans / gay rights isn't entering my head. We often underestimate how having morales / values & standing firm on those is often (not always) a privilege that comes from having a safety net that many people don't have.

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kxim.bsky.social @kxim.bsky.social · 18/12/2024

Is the point not that, 'coastal liberals' can afford to take a hit to their finances by prioritising their morales / values above their own economic self interests in terms of how they vote. Whereas poorer people cannot.

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kxim.bsky.social @kxim.bsky.social · 15/12/2024

One of the things often missed in discussions regarding homeschooling, is that attending a school on a regular basis can act as a safe-guarding measure for many children, and helps prevent neglect and abuse from going unnoticed / unchecked.

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

Also worth noting - as the report suggests 6/10 respondents reported issues with coverage & half of these went unresolved, while still suggesting an overall positive perception of their coverage - for me (MSC. Politic Research) this suggests methodological or framing issues with the questions asked.

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

Original data source states - of those surveyed 58% experienced issues with coverage inc. denials, & of these half were unresolved resulting in serious consequences. It also finds adults in poorer health more likely to report issues. In summary this article is just bootlicking propaganda.

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

Original data source states - of those surveyed 58% experienced issues with coverage inc. denials, & of these half were unable to resolve resulting in serious consequences. It also finds adults in poorer health more likely to report issues. In summary the article is a bootlicking propaganda.

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

Your wrong, it's obviously Skyler White. You can expect my 3-hour video essay on the topic whenever my mum let's me back on the family computer.

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

Me when the only game I've played all year doesn't win an award against a list of games I've never even heard of and have no idea of their quality...

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

I am going to be controversial here and suggest they weren't actually trying to create a pie chart here. It just so happens the visual they are using to attach the percentages to is a pizza that is round and is often sliced into segments like a pie.

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kxim.bsky.social @kxim.bsky.social · 13/12/2024

I've never really thought about it but now that I have...

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kxim.bsky.social @kxim.bsky.social · 12/12/2024

Campaigning on hope & joy when you are the incumbent during a period where people's material conditions have gotten worse, is one of the reasons the campaign failed. Only 1 candidate was selling the message that the system isn't working for many people, & that unfortunately, wasn't Harris.

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kxim.bsky.social @kxim.bsky.social · 12/12/2024

They batter each other with balled up socks in a pitch-black room until someone cries. That's how my brothers and I used to decide who got first go on the PlayStation.

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kxim.bsky.social @kxim.bsky.social · 10/12/2024

In Elon's defence, he was probably coked out his nut when he wrote this.

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kxim.bsky.social @kxim.bsky.social · 10/12/2024

Great to have a title that reminds me I do actually love this IP, and I am not just getting old and jaded when I hate the latest sequels.

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