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Paul J Davies

@pauljdavies.bsky.social

Has views on banking and finance for Bloomberg Opinion. Just because you “like” something doesn’t mean you *like* something… Money. Music. Books and Bad like really atrocious Jokes. Also #COYS

created July 3, 2023

4,991 followers 1,293 following 5,732 posts

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Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Co-pilot is the voice inside its head

3/9/2025, 10:06:35 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Early noughties. They were hazy aimless days, eh? m.youtube.com/watch?v=t5WH...

3/9/2025, 9:39:51 PM | 3 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

There’s a fair case that a lot of the development in my music tastes really came from my desire to collect the graphics work of Designers Republic and Futura 2000.

3/9/2025, 6:47:31 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Got that on cassette somewhere. And I still have these absolute beauties from when I got discounts doing work experience in Our Price several years ago.

Two PWEI vinyls: This is the day, this is the hour… and a picture disc of Cure for Sanity
3/9/2025, 6:38:39 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Oh rainbow waving is it?! 😆 Got a pretty cool one over Walthamstow marshes a couple of years ago. Almost the whole thing!

image
3/9/2025, 6:33:28 PM | 1 0 | View on Bluesky | view

Profile picture Renee DiResta (@noupside.bsky.social) reposted

You have a baby too young to vaccinate, and your older kid is exposed to Freedom Measles or Populist Polio in their classroom. You don’t have kids,but you may be impacted if you have cancer. Herd immunity is the point. The silent majority needs to get loud; make this a political liability for Ron.

3/9/2025, 6:19:23 PM | 457 147 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Never knew Pop Will Eat Itself did an American tour!

3/9/2025, 6:21:38 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Yves Klein dead centre, banger!

3/9/2025, 6:17:30 PM | 4 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Would answer be different if they other pair won? They had almost exactly the same policies just different presentation styles asaict

3/9/2025, 6:14:16 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Pretty powerfully bright rainbow over Kings X right now

A very bright rainbow, really close, lighting up a tree in the gardens out of my kitchen window.
3/9/2025, 6:10:25 PM | 4 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

He’s *desperate* to win back Elon’s love from Yaxley-Lennon and AdvanceUK

3/9/2025, 5:55:35 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

So his job is to basically just watch out for a thing that happened in America once and a thing that never happened. That’s some pretty broad guardrails.

3/9/2025, 5:47:37 PM | 1 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Met police chief calls for review of law after Graham Linehan arrest (Maybe we'll hear similar calls after this weekend's Palestine march, too.) www.theguardian.com/uk-news/2025...

3/9/2025, 11:57:08 AM | 6 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Sexy!

3/9/2025, 9:53:31 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Rather than a free-speech, free-protest problem, we *might* have an issue with the Met police's excessively literal and always heavy handed enforcement of the law. (This may of course be deliberate because they don't like the laws...)

3/9/2025, 9:46:47 AM | 2 0 | View on Bluesky | view

Profile picture Mayfair Cynic (@mayfaircynic.bsky.social) reposted reply parent

"Ok, Respected Comrade, one last time: These are small. Those are faaar away"

image
3/9/2025, 9:38:23 AM | 11 3 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Also>>

And finally in the wholesale space, along with the BIS Innovation Hub, our DLT innovation challenge is looking at whether wholesale central bank money can be... It's Dave Lee Travis
3/9/2025, 9:38:37 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Today in as important as it is dull (from a Sarah Breeden speech on payments innovation) www.bankofengland.co.uk/speech/2025/...

Already today, RT2 has functionality which can enable settlement in central bank money for assets traded and settled in other systems, including those traded ‘on-chain’ in programmable and distributed ledgers (DLT). And next year we will launch our synchronisation lab that will allow central bank settlement to be fully integrated with transactions happening on other ledgers – again including programmable and distributed ones. I cannot emphasise enough how critically important this infrastructure is in supporting the next generation of trading and settlement in wholesale financial markets.
3/9/2025, 9:35:16 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

They should also look at streeting tweeting

3/9/2025, 9:32:57 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Whatever Kim says they are!

3/9/2025, 9:29:03 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Some thoughts on what Apollo and Liverpool @lfcr.bsky.social tell us about the sheer scale and maturity of sports financing. via @opinion.bloomberg.com >>> www.bloomberg.com/opinion/arti...

Chart showing spending on player transfer by the top-five spenders in the Premier League. Liverpool has the biggest gross outlay at £415m but Arsenal have the biggest net spend at £246m. If Arteta doesn't win something this year... Chart showing revenue growth for EPL clubs over five years from a total of £5.5bn in 21/22 to a projected £6.9bn for 25/26. Data from Deloitte.
3/9/2025, 9:09:10 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

"Tender?" Maybe that's the message

3/9/2025, 8:57:31 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Charts just like this were a big feature of Tidjane era strategy CS presentations, which... weren't so succesful

3/9/2025, 8:56:14 AM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

The best way to raise self-sufficient kids is to let them round around and have accidents while you drink wine

2/9/2025, 8:48:51 PM | 3 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

“I did truths, long truths, some pretty poignant truths…” is a phrase that you could never have convinced me any world leader could possibly come out with even just a few years ago.

2/9/2025, 7:06:49 PM | 2 1 | View on Bluesky | view

Profile picture LondonLee (@londonlee.bsky.social) reposted

UK I Love You But You're Bringing Me Down

2/9/2025, 6:39:54 PM | 10 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Why did Biden hate Huntsville so much?

2/9/2025, 7:01:13 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

It’s open mic day in the Oval Office

2/9/2025, 6:58:24 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Ehhh, don’t sweat it

2/9/2025, 6:55:34 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Solar panels all over farmland is absolutely terrible. Terrible. But 4 mega data centers, each about 80% the size of Manhattan? Fabulous.

2/9/2025, 6:25:53 PM | 7 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

This isn’t *completely* wild: a bunch of companies, including the BBC, and political pollsters, have used agent-based modelling to test out policies/products/programs for years. It’s niche but not totally ridiculous. www.wsj.com/articles/a-n...

2/9/2025, 6:03:27 PM | 3 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Used to go to the mountains north of there every year for family reasons, went about 12/13 years in a row and always went down to the lake at some point. Really miss it

2/9/2025, 5:25:35 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Sorry. Over tired.

2/9/2025, 4:44:59 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

I’d prefer some that stay up please.

It’s an email from Uniqlo. Subject: Fall Pants On SALE
2/9/2025, 4:44:20 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Until they change the chancellor, maybe...

2/9/2025, 4:36:12 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

TBH the setting was so gorgeous that i was fine really. Torri del Benaco, right on the dinky little harbour. *strong* recommend

2/9/2025, 4:33:32 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Doing it in Paris so much worse!

2/9/2025, 4:11:17 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Interesting the contrast between Jane St and CitSec... ETFs must have well beat cash and retail options flows...? Jane Street pulled in a record $10.1bn net trading revenue in the second quarter, beating out all of Wall Street’s biggest banks www.bloomberg.com/news/article...

2/9/2025, 4:08:49 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

fwiw I disagree - but number two did get to enjoy even more benign neglect than number one

2/9/2025, 4:06:17 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

It burned like a steam jet. the scars are real

2/9/2025, 4:04:51 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

I once asked for a double macchiato at a hotel on Lake Garda and the waitress looked at me like I was a moron and said: that's a cappucino. The shame.

2/9/2025, 3:55:59 PM | 8 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Need a mid-afternoon pick-me-up? If you like some classic drum n bass with BIG soul vocals, you'll love this Pola & Bryson Fabric Live>> open.spotify.com/album/3PskBg... SpotifySpotify

2/9/2025, 2:18:27 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Crypto is coming for your airmiles and card points>> Stablecoins pose more of a threat to US credit cards than to bank accounts or money market funds - via @opinion.bloomberg.com www.bloomberg.com/opinion/arti...

2/9/2025, 10:55:20 AM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

afaict the two leadership rivals basically said exactly the same things, but Polanski just said it simpler, quicker and with more zing

2/9/2025, 10:31:51 AM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Lol! I had a bit earlier with Francine too and got a mention in for a top team there!

2/9/2025, 10:06:40 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Definitely a big step in the right direction - although definitely expect Xavi to take a while to settle and get used to the relentlessness of the PL versus BL...

2/9/2025, 9:04:29 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

“The total this year is more than was spent by Bundesliga, La Liga, Ligue 1 and Serie A clubs combined.” 💸💸💸

2/9/2025, 6:18:47 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Premier League clubs spend £3bn on transfers this summer alone. Gross not net but still kind of wild.

1/9/2025, 9:29:38 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

On top of which, wasn't it the case with several major LDI programs that the financial wherewithall to react to the crisis was there, but the trustees with the authority to approve its release just couldn't be reached very quickly because they didn't have their phones or something equally dumb?

1/9/2025, 3:25:45 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Some day politics, industry and even tech will get over the idea that "disruption" is the one strategic aim that should rule them all and society will have a chance to just function again

1/9/2025, 3:10:41 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Imo a much under-discussed element of the whole disaster was her vague but fully serious promises to completely liberalise planning laws (repeated on last week's pod) which really put the fear of god into the full Tory faithful. I'll do anything for free markets but I won't do *that*! ru fckn crazy

1/9/2025, 3:06:28 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

I know some otherwise sane people who also seem to completely believe this.... but possibly more because their dislike of Bailey skews their reason than because they're actively sympathetic to Liz

1/9/2025, 2:59:31 PM | 4 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Ah but @tobyn.bsky.social Bailey *knew* a high-spending, tax-cutting budget was coming and *that's* why he deliberately queered the pitch with his totally unnecessary QT announcement because he was a Big Lefty Keynsian out to get Liz! Liz explains the coup www.ft.com/content/30e5...

1/9/2025, 2:54:59 PM | 7 3 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Actually drooling now...

1/9/2025, 2:50:44 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

"elevating nostalgia into heritage" - or even war!

1/9/2025, 2:10:35 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Where are the comedy insults and random capitals??

1/9/2025, 1:28:33 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Yes, it should be! Thanks this is interesting. Sounds worth looking into a bit more.

1/9/2025, 11:00:51 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

TBH I *thought* the SEC had been stripped of all oversight of crypto related stuff by the admin declaring none if this was securities. But IDK, maybe it's still ripe for testing

1/9/2025, 10:48:53 AM | 1 0 | View on Bluesky | view

Profile picture Sunder Katwala (sundersays) (@sundersays.bsky.social) reposted

Elon Musk will be championing the Tommy Robinson 13/9 rally, on grounds that Nigel Farage is "weak sauce" on mass deportation and too soft on Islam Govt not even reviewing its use of X since 2022 shows different rules apply to Elon Musk than we expect of every school-child on British values

1/9/2025, 9:30:30 AM | 613 173 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

There’s plenty of debate to be had over democratic accountability for central banks but you can be damn sure that this administration would show *all* the reasons why an independence is so important for the Fed. open.substack.com/pub/matthewc...

1/9/2025, 10:18:57 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

And most incredible of all, it’s all completely legal! 🤯 The Trumps’ New Crypto Money Maker: Deals With Themselves www.wsj.com/finance/curr...

Alt5, which has a market value of around $1 billion, said it would accumulate WLFI to pursue a so-called treasury strategy. This playbook was modeled on software company Strategy, formerly known as MicroStrategy, which has issued shares to fund the purchase of billions of dollars of bitcoin. But unlike Strategy, which buys bitcoin on the open market, Alt5 is buying tokens from World Liberty, a related party that also controls the supply of the tokens. Alt5 said it bought the WLFI tokens for 20 cents a piece, a 50% premium to the price World Liberty charged in a recent private sale to an outside investor, thereby boosting the total value of WLFI. Witkoff said after the deal was announced that 20 cents was a discount compared with the price implied by futures contracts tied to WLFI traded on crypto exchanges. The practice used by the Trump family isn't unheard of in the crypto world. Justin Sun's blockchain firm Tron has partnered with an affiliated company to buy a cryptocurrency it issues. Some former regulators are concerned that the opacity and insider transactions of these types of deals could leave investors vulnerable.
1/9/2025, 9:45:08 AM | 16 3 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Also: only capable of performing in set-piece moments

31/8/2025, 6:06:05 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Szoboslai. The new Roberto Carlos? What the hell was that?!

31/8/2025, 5:11:48 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Only discovered this game recently, didn’t know what you were all on about for ages. Had a shocker in my first go the other day. Got this one in one (but only because I’ve been relatively recently)

31/8/2025, 11:18:11 AM | 4 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

… aren’t income independent? Or that those who have been high income earners don’t die in ways that draw heavily on NHS care?

31/8/2025, 9:26:49 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

I don’t understand this. Aren’t the social insurance aspects of taxation meant to be redistributive in both directions? In child benefit, if everyone gets the same why have it at all? You’re just forcing the childless to help fund children. And on NHS, is there data to show the really costly things

31/8/2025, 9:26:49 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Pret is totally acceptable

30/8/2025, 9:04:51 AM | 3 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

See I find Neros not awful. A small Americano is at least small and tastes like coffee.

30/8/2025, 8:55:58 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

They do serve by the worst coffee anywhere. Oh a pint of warm pipe water is your smallest most coffee like drink? Even Starbucks isn’t this bad thanks

30/8/2025, 8:51:25 AM | 3 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Love that high sugar diet! The calculated silence of America’s business and finance leaders on.ft.com/41xBLyN

30/8/2025, 8:14:59 AM | 12 4 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Sonny’s number. Big shirt to fill for the young Dutch lad.

Picture of Xavi Simons signing for Tottenham Hotspur. He’s getting the number 7 shirt.
29/8/2025, 5:42:43 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Ok. Cool. THANKS!

29/8/2025, 5:38:59 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

The mechanics described in here make a lot of sense of this I think >> bsky.app/profile/paul...

29/8/2025, 3:42:22 PM | 2 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

As someone else I think already said, we've got to be getting close to some kind of product recall - it would have happened several times over with any other product already.

29/8/2025, 3:35:01 PM | 9 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

The very same!

29/8/2025, 2:50:56 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Entertaining paean to inelegant variation from the tribune of physical media readers

29/8/2025, 2:50:45 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Jeffries UK banks analyst: "I can't even..."

Really? It is hard to know where to start on today's
29/8/2025, 2:40:26 PM | 7 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

The bits on exploitation and border line fraud suffered by some of these people is pretty grim reading.

29/8/2025, 1:17:20 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Some very good on the ground reporting in this>> Britain’s post-Brexit visa program, meant to attract lower numbers of skilled workers, soon backfired. The debacle drew populist Nigel Farage back into politics. www.wsj.com/world/uk/bri...

29/8/2025, 1:08:11 PM | 0 0 | View on Bluesky | view

Profile picture Lewis Goodall (@lewisgoodall.com) reposted

Polling from @Moreincommon_ on Lucy Connolly More than half think her sentence was too lenient or about right. Only a third that it was too harsh. Only 18% think politicians should associate themselves her, while 51% think they should actively distance themselves from her.

29/8/2025, 8:20:49 AM | 1184 339 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

… and their own fears of how constituents will react. They can’t sell it as: It’s our taxes/cuts versus *those* cuts/taxes. I think probably Labour were as bad in opposition in not explicitly setting alts to Tory policies. You can’t sell decisions when you can’t show what you’re deciding between.

29/8/2025, 11:36:07 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Where is the centre right is a really important question. I’m starting to think one reason that economic decision making is so hard is because there is *no debate*. It is hard to choose your trade offs when no one is offering alternatives. Labour MPs can only choose between govt proposals and

29/8/2025, 11:36:07 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Sonny is bringing everything LAFC wanted and more. 😍 www.nytimes.com/athletic/658... The Son Heung-min Effect is already being felt in Los Angeles and around MLS

29/8/2025, 11:18:33 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

This was quite the question! You know, there's so many different aspects of the UK spending situation, whether it's the triple lock pension. *There's this thing that goes viral Twitter a lot about like how easy it is to get a free car*, etc. Like why not first take aim at low hanging fruit?

29/8/2025, 10:54:33 AM | 0 0 | View on Bluesky | view

Profile picture Matthew Holehouse (@matthewholehouse.bsky.social) reposted reply parent

Contrary to Truss' complaint in this interview, we know the OBR will happily score planning reforms when they are actually real, which is why it handed Reeves a chunky 0.4% for her first-stage reforms (ie not bill) alone. The reason it probably wouldn't for Truss is because hers looked like this:

image
29/8/2025, 10:00:04 AM | 35 8 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Of course, North London's leading football team is well outside it, but we don't want any of those wet metropolitan bubble saddos at our games anyway

image
29/8/2025, 10:12:57 AM | 7 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

IDK I'm pretty sure the Emirates is inside that zone. Juuuuusst about

image
29/8/2025, 10:07:57 AM | 6 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Authoritarians used to flaunt their masculinity and stamina and batter their peoples’ brains with marathon speeches. Putin then Trump and now Farage are doing it with interminable made-for-TV press conferences. Trump’s are the most accomplished version but Farage is obvs taking notes

29/8/2025, 9:58:13 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

He must be approaching the point where money earned as payoffs for contract cancellations matches or exceeds money earned for actually managing football teams

29/8/2025, 8:52:29 AM | 4 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

He also admits the tradeoffs, which is the acknowledgement that most of this money will come out of customers pockets *because that is where it is currently going*. Look at UK ringfenced or retail net interest income for major banks. It has n’t risen in line with gross interest paid by BoE.

29/8/2025, 8:38:20 AM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Very good on what Labour should be saying instead of its current hopelessly managerial response

29/8/2025, 8:34:22 AM | 4 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

This government is failing to fix the UK’s budget problems because it can’t face them and keeps looking for painless tweaks. This great analysts from @blondemoney.bsky.social makes a harsh but solid case why this is happening and why it will end in political crisis. blondemoney.co.uk/insights/uk-...

The Budget Process This creates significant risk in the weeks ahead. The slavish genuflection at the altar of the OBR has already ensured a drawn out process for compiling the Budget. Whereas before the Chancellor and their team would decide on policies and then present them to the OBR, the process is now reversed. The Chancellor thinks she can only make decisions once the OBR has conducted its forecast modelling and let her know the amount of fiscal headroom. This is what has led to such an interminably long and leaky process. After knowing the number in the OBR’s spreadsheet, the Treasury put together a list of options to plug the gap, which in turn the OBR slots into its own forecasts and hit F9 to update the spreadsheet. If there’s still a gap, the Treasury try again, and so on in an iterative process right up until a few days before Budget day.
29/8/2025, 8:00:56 AM | 3 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

All these ideas at best raise miserably small amounts of money. So maybe the government could do it and maybe only a few bankers would be really unhappy but it’s just not moving the dial in any really useful way >> www.bloomberg.com/opinion/arti...

29/8/2025, 7:47:17 AM | 2 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

They are also talking again about a special extra profit tax for banks - Rayner suggested upping total take from 28% to 30%. Do you know how much this will raise? Based on OBR forecasts it would bring in an extra £275m per year. on.ft.com/47dpIue

29/8/2025, 7:43:45 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

I regret to inform you that people are talking about taxing QE profits again. Carsten Jung’s IPPR version sounds less bad for monetary policy but will likely come out of interest paid to savers. So maybe it’s just a backdoor wealth tax? www.bloomberg.com/news/article...

Bailey has argued that any tax on the banks should rather be seen as a tax on “banking services” as it would be passed on to customers in higher mortgage rates or lower savings interest. Jung accepted that there would be trade-offs.
29/8/2025, 7:37:03 AM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Rushing out a product with limited safety testing and guardrails that degrade over extended interactions has proven to devastating for growing numbers of users - but not yet for Sam Altman or OpenAI. Grim reading from @parmy.bsky.social @opinion.bloomberg.com www.bloomberg.com/opinion/arti...

29/8/2025, 7:31:47 AM | 1 0 | View on Bluesky | view

Profile picture Matthew Brooker (@mbrooker.bsky.social) reposted

England’s flag warriors are more likely the last hurrah of the summer silly season than the start of a revolution www.bloomberg.com/opinion/arti...

29/8/2025, 6:35:00 AM | 2 1 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social)

Are these guys about to fight the camera or try and kiss it? Unnerving either way!

28/8/2025, 4:52:14 PM | 1 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

Data? Fast data?

28/8/2025, 4:27:13 PM | 0 0 | View on Bluesky | view

Profile picture Paul J Davies (@pauljdavies.bsky.social) reply parent

GDP lite, anyone?

28/8/2025, 4:26:10 PM | 1 0 | View on Bluesky | view