Uh-oh - It's all kicking off in the UK economy

The Bank of England has had to step in after gilts hit over 5% and pension funds were being forced to sell bonds to maintain solvency.

The BoE used some seriously worrying words:

"...were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability”

We haven't heard phrases like this since the 2008 crisis...

The IMF criticised the recent tax cuts announced in the Mini-Budget yesterday and it looks like the UK is too big to approach them for financial help. So it looks like we're on our own...(gulp).

In response to the financial turmoil, the Bank of England announced it would conduct “temporary” purchases of long-dated gilts" - yep, more money printing! Actually, I now understand that the bond buying will be "paid out of bank reserves" - really?!!!

Pull up your seat folks and watch this unfold (cue: popcorn!) - but don't get too comfortable, as something similar is probably set to hit an economy near you very soon...