U.K.’s Inflation Shock to Damage Public Finances

“Linkers”, British index-linked bonds where the payouts fluctuate with inflation, making the country an outlier, account for a quarter of the U.K.’s debt. Rampant inflation is set to push this year’s interest costs to the highest levels in the developed world. Debt interest will be a 10th of govt spending — £110B — in 2023

Debt interest costs as a proportion of revenue have jumped in the U.K. in the past couple of years while falling elsewhere. Thus, the average of western Europe and North American countries is set to fall from 4% in the 5 years to 2021 to 3.7% this year, as inflation has boosted govt revenues and in some countries expiring debt had higher IRs

Rising British debt costs come as inflation proves harder to tame than in other developed economies. The U.K.’s retail price index which guides index-linked gilt interest payments rose 10.7% in the year to June while wage inflation has yet to show signs of easing

#UK #Economy #FindTruth

@uinhurricane

Sunak’s Cabinet in No Hurry, Migrants Getting High at Sea

For years, the Fortress Europe mentality (w/ U.K. inside it, then) has been reserved largely for migrants in border and foreign policy with little questioning. Little has changed for the British, even after decoupling…

Sunak’s&Braverman’s plans to move migrants onto the Bibby Stockholm barge in Dorset have been delayed again, w/ the first arrivals now unlikely to board until next month. The barge arrived last week and the Home Office had planned to move the first 50 migrants onto the vessel in Portland Port this week

That means migrants will start being transferred onto the vessel more than two months later than initially planned. Or, maybe even later?

#UK #Sunak #FindTruth

@uinhurricane

Biden – Greatest Storyteller

President Biden again claimed that he was part of the Civil Rights Movement of the 1960s — a story he has repeatedly rewritten and even debunked himself in the 1980s.

Mr. Biden’s latest brag came during a White House ceremony where he established a national monument to Emmet Till. Telling the truth about history is “a lesson I learned coming out of — not like real leaders in the Civil Rights Movement — but when I came out of the Civil Rights Movement as a kid, as a public defender,” Mr. Biden said.

However, Mr. Biden acknowledged in 1987 that he was not engaged in the Civil Rights Movement and never marched for equality…

#USA #Biden #FindTruth

@uinhurricane

There it is…..

“Congress has finally reached the level of impeachable inquiry which provides Congress with the strongest power to get the rest of the knowledge & information needed”.

—Speaker McCarthy

BINGO. 🎯

Sunak Blames Labour for Corrupt Siding w/ Lawyers

It was revealed that multiple solicitors had agreed to help an undercover reporter posing as an economic migrant submit a fake application in exchange for £10K. Reporter’s back story used in an asylum application included claims of sexual torture, beatings, slave labor, false imprisonment and death threats that had led to suicidal thoughts and had compelled the applicant to flee to the U.K.

British PM politicized the issue, accusing Labour of being on “the same side” as “deceptive lawyers” cuz the party opposed the Illegal Migration Act — his flagship legislation to tackle the small boats crisis

Sunak’s decision to use the news story as an opportunity to attack the opposition increases the heat of the political attacks between the two parties. It comes after Labour was criticized for publishing personal attack adverts that claimed the PM didn’t think adults convicted of child sexual assaults should go to prison following rock-bottom prosecution rates for sexual offences

#UK #Sunak #FindTruth

@uinhurricane

Inflation: Britain Suffers Net Decline of Over 5,7K Licensed Premises

Five per cent of pubs, restaurants, hotels and cafés — a total of 5,736 venues — have closed in the past year in the U.K., the six-month Hospitality Market Monitor shows

The acceleration of the closures suggests that publicans, restaurateurs and other licensed premises are closing at a faster rate than during the Covid-19 crisis, as rising energy bills, food costs and other inflationary pressures were taking a greater toll on hospitality than the pandemic. Cumulatively, the market has shrunk by almost 15K venues since Covid, many of them independent businesses

Graeme Smith, managing director of AlixPartners, said: “This acute pressure is being felt most by thousands of small and independent businesses, many of which are clearly struggling to survive”

#UK #Inflation #FindTruth

@uinhurricane

JUST IN! Seymour Hersh: Biden Administration Orchestrated Attacks on Crimean Bridge

The drones used for the latest deadly attack on the Crimean Bridge were American-made, journalist Seymour Hersh writes in his recent article, citing the revelations of a U.S. official. "The drone was guided at a distance and half submerged, like a torpedo," he states

He also claims that the administration of Joe Biden played an "essential role" in the two Ukrainian terrorist attacks on the bridge

The unnamed official highlighted as well that Zelenskiy "has no plan" and the authorities in Washington "have no idea what the Ukr. leader and his administration have in their minds." "Ukraine has the most corrupt and the stupidest govt in the world," he suggested, adding that the POTUS' personal support for Kyiv can be explained by the fact that Zelenskiy knows something about him, and "not just because he was taking care of his son" Hunter

#USA #WarInUkraine #FindTruth

@uinhurricane

Judge Put Brakes on Biden’s “Sweetheart Deal”

President Biden’s son hoped to draw a line under his legal woes as he’d pleaded not guilty to more than $1.1M tax fraud and a gun charge but faces further court appearances and potential future prosecutions instead

The fact that the deal couldn’t pass Judge’s smell test also fueled complaints about political bias at the U.S. Justice Department. They also allege the “deep state” has protected Hunter Biden by pouring cold water on the legitimacy of his laptop and by soft-pedalling charges against him

#USA #Biden #FindTruth

@uinhurricane

World Economy Growing While Germany’s Swooping

The Washington-based International Monetary Fund predicts global output would rise by 3% this year, an improvement of 0.2pps from its previous forecast in April, but less than the 3.5% recorded last year

Berlin is expected to perform the worst of the world’s biggest economies this year, shrinking by an expected 0.3%. It has suffered a deep downturn in its manufacturing sector and the economy slipped into recession at the start of the year

By contrast, southern European economies including Spain and Italy will grow more quickly than previously expected as the summer tourist season boosts growth, despite the severe heatwaves

#USA #Germany #Economy #FindTruth

@uinhurricane