Jamie Phone

[Jamie Phone @JamiePhone1]

@Baoliaogeming64 Trump Putin deal? Iran for Ukraine.

[Jamie Phone @JamiePhone1]

@RupertLowe10 Keep the lawyers at a sensible distance. Recently any sensible way forward is tied up in legal challenges for years, even decades, syphoning cash that should not be wasted.

[Jamie Phone @JamiePhone1]

@mfgoldendoodles @grok @forbiddenmerch Read the book IBM and the holocaust by Edwin Black.

[Jamie Phone @JamiePhone1]

@HarrisonKrank Looking forward to the re-creation of Evel Knievel's canyon jump!

[Jamie Phone @JamiePhone1]

@timdavies_uk Epstein and Gates et al experimented with Barbie. Trump rolls out the results!

[Jamie Phone @JamiePhone1]

@RTCORGUK If the Welsh dragon was flown, she'd have said nothing. Probably not known what it stood for.

[Jamie Phone @JamiePhone1]

@LionelMedia Is she a musician like her father 'Seal' or a clothes model like the mother?

[Liam Halligan @LiamHalligan]

“The fasten seat belts sign is on”.

This is a message I received early this morning from one of the UK’s most experienced, savvy and respected financial traders. Someone I have come to know and trust for the last 25 years.

10-year bond yields are now almost 4.5pc - up some 50 basis points over the last month.

30-year yields this morning went above 6pc - a 28-year high.

Yet the UK’s political and media class continues to focus on party posturing and folksy rhetoric, ignoring the slow-motion disaster that has been happening on the UK’s sovereign bond markets for at least the last 18 months - a disaster that will inevitably, unless we drastically change course, turn into a fully blown market meltdown.

At that point, the UK government won’t be able to borrow enough money to finance our already spiralling debt interest bill.

Britain’s financial management will be taken over by overseas technocrats - that will be the condition of additional borrowing, to maintain the basic functions of the state, as happened in Greece and Italy back in the early 2010s and here in Britain 50 years ago this year (when we were forced in 1976 to apply to the IMF for a bailout).

The austerity then imposed on Britain would make 2010-2019 feel like a picnic - far, far worse than it would be if we took serious action now to control our public finances.

Lower-income households would suffer most - and there would be serious damage done to the UK’s already rapidly-fraying social fabric ….

I have been warning about these looking fiscal dangers publicly, in my newspaper columns and elsewhere, since at least early 2024.

Doing so hasn’t been easy or fun. I have been dismissed and derided by numerous economists, “economists”, officials and policymakers - as well as lots of journalists.

I absolutely don’t want a disastrous 1976-style outcome - which is why I’ve taken the blows and issued the warnings.

The state is too big. Public spending is out of control. Our fiscal rules are a convenient nonsense - designed to kick the can of financial reality into the future. We need to get real … and take bold action to tame the growth of spending, push back a now totally over-bearing state and snap the British economy out of today’s high-tax-high-borrowing-low-growth doom loop - the result of myopic, counter-productive policy-making by successive governments for the last decade and more …

Other prominent economists who agree with me - ie who are financially-literate, can read a yield curve, have a passing interest in economic history and who understand the dangers of some 80pc of UK government borrowing going on debt interest as it currently is - need to chuck “career risk” in the bin, and start saying publicly what so many of them have, for quite a while now, only had the bottle to say to me in private …

Remember: “The fasten seat belts sign is on”

[Jamie Phone @JamiePhone1]

@usludurkizim 6 Blue + Yellow = Green

[Jamie Phone @JamiePhone1]

@BGatesIsaPyscho Where did they dump all of that and how long did it take before it was back in the same state?

[Jamie Phone @JamiePhone1]

@YesterdaysBrit1 Excuse me young man, do you fancy giving the USSR all your research projects. Perhaps you'd like to carry on giving us secrets when you progress to HM Government?

[Jamie Phone @JamiePhone1]

@YesterdaysBrit1 Gone. Along with the Paxman factory in Colchester where the engines were made.

[Jamie Phone @JamiePhone1]

@realJohnJohnJr High probability of mysterious accidents if they do.

[Jamie Phone @JamiePhone1]

@RupertLowe10 @RobertJenrick He did as he was told by those higher up the food chain. All with the promise of a shot at PM. A weak individual being pushed around again it seems.

[Jamie Phone @JamiePhone1]

@LionelMedia

[Jamie Phone @JamiePhone1]

@elonmusk Looks too good inside with nice finishes/materials and lots of moving/adjustable items. They don't seem too durable. It will definitely need to be hosed out many times for various reasons. A behaviour camera/fines won't stop people!

[Jamie Phone @JamiePhone1]

@Stockwell_Day Have they learnt what happens when they interact with the wildlife yet?🦬🐻🐺🐻‍❄️🦫🐆🦅🐗🫎🦝🦌

[Jamie Phone @JamiePhone1]

@PaulaSlier @thecommonsense China not sponsoring enough? Fractured tribal/religious alliances? Eyes on conflict in nearby countries? Perceived stability? Apathy?

[Jamie Phone @JamiePhone1]

@RussianEmbassy Lots of great information here too
https://t.co/yVkJ9N2DKg

[Jamie Phone @JamiePhone1]

@timacheson Famous for a few minutes. Someone else's problem init!