Posted on 10/15/2022 4:20:19 AM PDT by Berlin_Freeper
For the first time in my adult life, there is a genuine sense of decay in Britain—a realization that something has been lost that will be difficult to recover, something more profound than pounds and pence, political personalities, or even prime ministers. Over the past three weeks, the U.K. has been gripped by a crisis of crushing stupidity, one that has gone beyond all the turmoil of Brexit, Boris, even the great bank bailouts of 2007, and touched that most precious of things: core national credibility.
Today, we had the absurd spectacle of a prime minister, barely a month into the job, abandoning the central tax-cutting purpose of her premiership and sacking her closest political ally, who had implemented this vision. This all in aid of a vain and surely doomed attempt to cling to power, after the markets concluded that her policies were insane. Never before has Britain found itself in such a humiliatingly risible position. It is the stuff of nightmares: the national equivalent of getting caught short onstage in front of your entire school because you chose not to go to the bathroom when you had the chance.
As hard as it is to get across the sheer scale of idiotic farce now unfolding, let’s try.
(Excerpt) Read more at theatlantic.com ...
Importing millions of third world muslims Africans and child grooming rapists didn’t signal decay?
She is a disaster. The moment she caved was the start of her demise. Doubt she makes it through her first year..probably not even this year.
You must have missed the news, but Sweden and Finland have just joined NATO. It is larger and stronger than ever.Just like when the donkey herdsman missed that the UK left the EU. 🤣🤣🤣
Maggie Thatcher would not have been blackmailed by bond speculators. Tax cuts are “paid” for through increased economic activity and tax revenue. Tax cuts work every time they are tried.
Steve Bannon predicts Truss will be gone in a week. I’m not up to speed on UK politics, so ...
A government that does not cut, merely adds to the collective debt. Bond vigilantes play a important role in restricting the stupidity of government. Our markets have forgotten that. Tax cuts without spending cuts is irresponsible and wrong.
Ponzi schemes always have two last people hop in before they collapse.
If the extreme left wing media and the Putinistas don’t like her, how bad can she be??
Very well written, with a panache and eloquence that American writers cannot muster.
Totally bogus reporting!
All of this was set in motion a month ago by a significant jump in UK and European inflation, which preceded any action by the new Prime Minister.
The value of the Euro against the US Dollar has crashed just as much as the UK Pound crashed.
The Bank of England, just like the European Central Bank, raised interest rates to fight inflation - NOT to protect the value of the Euro and the Pound versus the US Dollar.
The ECB and the Bank of England have been printing massive amounts of new money, just like the US Treasury, since the Covid crisis began in 2020.
The Truss tax cut would amount to a tiny fraction of that massive money printing.
Truss is a political weakling and a financial ignoramus!
“Ponzi schemes always have two last people hop in before they collapse.”
Ooh smart man has a prediction. Do you want to give a date for the NATO collapse so we can all laugh at you when your prediction doesn’t come true?
Concurring bump...like this well crafted rhetorical gem.
Truss’s plan turned out to be like one of those booby traps in an Indiana Jones movie, triggering the collapse of a roof covered in deadly spikes. Whichever way she now turns, she seems destined to be impaled on a spike of her own creation. Having given up on much of her plan for growth, she has removed the very point of Liz Truss. But Liz Truss remaining prime minister means that the markets are likely to continue their squeeze. She has nowhere to go but political death.
I like how the author so eloquently states that Truss shit her pants.
Kinda like how you and Nancy Pelosi agree on the war in Ukraine.
Tom McTague’s utter hysteria about the horrific prospect of tax cuts (despite their historically great success in stimulating economic growth and tax revenue) makes me think he is auditioning for a show on MSNBC.
Re: "Very well written, with a panache and eloquence that American writers cannot muster."
Are you three guys English Lit majors?
This article is 24 karat neo-Marxist propaganda.
The Truss tax cut will be less than 5% of the money printing debt that the Bank of England has cooked up since Covid started.
Truss is pitiful. She has no idea how to defend her tax cuts and no idea how to counter punch the financial calumny that is coming at her from every direction.
But not like cheering on Russians raping and murdering children. Does that give you and your a thrill? LOL.
Thanks for the entertainment. Now run along to your basement.
I’m for Peace. You support Biden. Simple stuff.
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