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"https://news.sky.com/story/liz-truss-storms-off-stage-after-lettuce-banner-prank-13196803 'Trumpers don't like it up'em!' says: Lance Corporal Jones. "Liz Truss is categorically incorrect. This is funny. | |||
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"Far left suppress free speech neverrr lol" There we go. Liz Truss lost to a picture of a lettuce. And people think that the lettuce is not only suppressing her free speech, but it's a left wing salad vegetable. | |||
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"Far left suppress free speech neverrr lol There we go. Liz Truss lost to a picture of a lettuce. And people think that the lettuce is not only suppressing her free speech, but it's a left wing salad vegetable. " Have they checked its green credentials ? | |||
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"Little gem or iceberg?" I'd like to think that it was the 'tip of the iceberg', but sadly she crashed the whole economy - and seems proud of it! Now she gets paid large amounts to tell people how she's proud of it. Seems to be part of the Trump 'Make America a Salad Again' too. | |||
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"Far left suppress free speech neverrr lol There we go. Liz Truss lost to a picture of a lettuce. And people think that the lettuce is not only suppressing her free speech, but it's a left wing salad vegetable. Have they checked its green credentials ? " | |||
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"https://news.sky.com/story/liz-truss-storms-off-stage-after-lettuce-banner-prank-13196803 'Trumpers don't like it up'em!' says: Lance Corporal Jones.
Liz Truss is categorically incorrect. This is funny."It was .. Tbh I'm pretty sure at some point she's had a sense of humour bypass.. | |||
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"https://news.sky.com/story/liz-truss-storms-off-stage-after-lettuce-banner-prank-13196803 'Trumpers don't like it up'em!' says: Lance Corporal Jones.
Liz Truss is categorically incorrect. This is funny."Liz Truss incorrect? Really?  | |||
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"Liz Truss got things wrong, but she did not crash the economy..." Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her  | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her "Blame her for what, specifically? | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?"Crashing the economy, duhhh | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?"Cmon. £19bn Bank of England bond buying bailout to stabilise markets Unfunded tax cuts. Her and goofy put peoples mortgages up | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
Crashing the economy, duhhh " | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?"She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more.... | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
Cmon. £19bn Bank of England bond buying bailout to stabilise markets Unfunded tax cuts.
Her and goofy put peoples mortgages up "Buying gilts wasn't that big a deal to stabilise the markets. Unfunded tax cuts spooked the markets but it was a blip, a nothing 2 months later. Labour went out their way to refer at every opportunity that she crashed the economy, which was not the reality. | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more...."She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM | |||
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"Liz Truss got things wrong, but she did not crash the economy..." She fucking did! | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did!" She didn't | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did! She didn't" Truss the lettuce head is a scum of the earth politician devoid of integrity and honesty….. she attempted single-handedly to bypass the financial governance of the uk economy and deliver a surprise budget that was endlessly flawed, had no external stakeholder support and worse was sculpted on a similar policy being advocated by the petulant orange man-boy attempting to fuck the US at the moment….. the woman is dysfunctional and delusional | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did! She didn't Truss the lettuce head is a scum of the earth politician devoid of integrity and honesty….. she attempted single-handedly to bypass the financial governance of the uk economy and deliver a surprise budget that was endlessly flawed, had no external stakeholder support and worse was sculpted on a similar policy being advocated by the petulant orange man-boy attempting to fuck the US at the moment….. the woman is dysfunctional and delusional " All of which might or might not be correct, however she didn’t crash the economy | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more....
She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM
"She didn’t reverse out…Jeremy hunt reversed her out of the policy Irony being the Sunak actually warned her what was likely to happen for months whilst they were competing on the Conservative leadership stump! Any yet the party membership voted here in….. I blame them!!! | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did! She didn't Truss the lettuce head is a scum of the earth politician devoid of integrity and honesty….. she attempted single-handedly to bypass the financial governance of the uk economy and deliver a surprise budget that was endlessly flawed, had no external stakeholder support and worse was sculpted on a similar policy being advocated by the petulant orange man-boy attempting to fuck the US at the moment….. the woman is dysfunctional and delusional All of which might or might not be correct, however she didn’t crash the economy" Guessing your definition of leadership and understanding of what it is to lead and be accountable exists as an isolated minority it in a sea of rationality | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more....
She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM
She didn’t reverse out…Jeremy hunt reversed her out of the policy
Irony being the Sunak actually warned her what was likely to happen for months whilst they were competing on the Conservative leadership stump!
Any yet the party membership voted here in…..
I blame them!!!"Indeed, the internal workings of the Tory party has been a pitiful example of ineptitude and protectionism. Insular and populist politicians attempting to influence the general public that they serve the people when all they are nurturing is elitist familiarity and disguise for their corruption. | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more....
She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM
She didn’t reverse out…Jeremy hunt reversed her out of the policy
Irony being the Sunak actually warned her what was likely to happen for months whilst they were competing on the Conservative leadership stump!
Any yet the party membership voted here in…..
I blame them!!!"Again, I’m not disputing that she didn’t manage her position, but we must stick to the facts, she appointed Hunt who reversed out. It would have been her call to allow that to happen or not. | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did! She didn't Truss the lettuce head is a scum of the earth politician devoid of integrity and honesty….. she attempted single-handedly to bypass the financial governance of the uk economy and deliver a surprise budget that was endlessly flawed, had no external stakeholder support and worse was sculpted on a similar policy being advocated by the petulant orange man-boy attempting to fuck the US at the moment….. the woman is dysfunctional and delusional All of which might or might not be correct, however she didn’t crash the economy Guessing your definition of leadership and understanding of what it is to lead and be accountable exists as an isolated minority it in a sea of rationality " Oh dear, you seem thirsty to show a mean streak of sharpness in your words. It’s not a game of put down and win, just be civilised in response and we engage. | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more....
She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM
She didn’t reverse out…Jeremy hunt reversed her out of the policy
Irony being the Sunak actually warned her what was likely to happen for months whilst they were competing on the Conservative leadership stump!
Any yet the party membership voted here in…..
I blame them!!!"Forgot to address the last bit, blame the party membership for what exactly? | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did! She didn't Truss the lettuce head is a scum of the earth politician devoid of integrity and honesty….. she attempted single-handedly to bypass the financial governance of the uk economy and deliver a surprise budget that was endlessly flawed, had no external stakeholder support and worse was sculpted on a similar policy being advocated by the petulant orange man-boy attempting to fuck the US at the moment….. the woman is dysfunctional and delusional All of which might or might not be correct, however she didn’t crash the economy Guessing your definition of leadership and understanding of what it is to lead and be accountable exists as an isolated minority it in a sea of rationality Oh dear, you seem thirsty to show a mean streak of sharpness in your words. It’s not a game of put down and win, just be civilised in response and we engage. "Your sensitivity and assumption dials need adjustment …. and whilst doing so you might want to consider why this game of whack fuck isn’t going the way you want it to. | |||
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"Liz Truss got things wrong, but she did not crash the economy... She fucking did! She didn't Truss the lettuce head is a scum of the earth politician devoid of integrity and honesty….. she attempted single-handedly to bypass the financial governance of the uk economy and deliver a surprise budget that was endlessly flawed, had no external stakeholder support and worse was sculpted on a similar policy being advocated by the petulant orange man-boy attempting to fuck the US at the moment….. the woman is dysfunctional and delusional All of which might or might not be correct, however she didn’t crash the economy Guessing your definition of leadership and understanding of what it is to lead and be accountable exists as an isolated minority it in a sea of rationality Oh dear, you seem thirsty to show a mean streak of sharpness in your words. It’s not a game of put down and win, just be civilised in response and we engage.
Your sensitivity and assumption dials need adjustment …. and whilst doing so you might want to consider why this game of whack fuck isn’t going the way you want it to." | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more....
She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM
"Yes that's your view and I fully respect it. But also the fact she has become a national joke, her name is met with derision, the laughingstock of the nation suggests that being humiliated as PM isn't sufficient in the minds of "the public" to forgive her mistakes. The beauty of this is people have now realised they can get their own back on erring politicians through social media promoted publicity stunts which appeal to the British sense of humour. | |||
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"Can’t believe anybody would attempt to excuse or defend the Truss Marionette! The culmination of the neo-liberal experiment failing on a massive scale. " Oh there were always going to be a couple. I think we all knew who they would be. | |||
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"Can’t believe anybody would attempt to excuse or defend the Truss Marionette! The culmination of the neo-liberal experiment failing on a massive scale. " What I find really intriguing is how. Like her new found idol "The Donald" she went from a liberal to a right wing poster lady. It's like the movie Invasion of the Bodysnatchers must be happening in real life. | |||
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"The revisionism is strong in this thread… “…Flexibility was what Truss was hoping for on September 23 2022, when her chancellor, Kwasi Kwarteng, presented the government’s “growth plan”. The idea was fairly simple: the UK economy needed a shock to stimulate investment, and that shock would be a series of tax cuts. If the Truss government had asked the OBR for an assessment of its plans – as all UK governments have done since 2010 – it would probably have concluded that £45 billion of unfunded cuts would not meet the government’s own targets on borrowing and public debt. What Truss had in mind though was a different model, one in which the tax cuts would pay for themselves by convincing investors to put more of their money into the British economy. So she decided to go ahead without an OBR assessment. But instead of flocking to the UK economy, investors smelled blood. If the UK was not on track to meet its rules, it might be facing a period of instability – and investors tend to avoid instability. The pound fell sharply, British companies became less valuable and UK pensions funds were at risk of collapse. Investors even started betting against the ability of the government to repay its debt. This is when the Bank of England (independent from the government since 1998) stepped in, putting aside £65 billion to buy up UK government debt, showing investors there was nothing to gain from betting against it. Fairly quickly, the government then U-turned on most of the mini-budget, the chancellor was sacked and Truss resigned. The British economy could then start licking its wounds, and learn the lessons from a harsh experiment in economics. One of those lessons is that independent bodies exist for a reason. If the UK is seen as a credible payer of debts, the country can borrow money more cheaply. And when 9.7% of annual government spending goes on debt interest, cheap money makes a huge difference. Because the Bank of England is independent, everyone trusts it to bring inflation down. And because the Bank is credible, it only had to spend a fraction of the £65 billion it had committed to buy government debt. Without the independent Bank of England and the OBR, Truss could have tried her plan without institutional constraint. But she would have had to convince investors all over the world of the UK’s economic stability – and they would have had to take her word for it. It is hard to see how she could have succeeded. Instead, independent institutions, as well as the markets and public finance (fiscal) targets, put the brakes on “Trussonomics”. So it would appear Truss and her plans were most certainly the catalyst!" You are copying a story about the reaction to the decision to make 45 billion in tax cuts with no funding. The incident happened at a time when inflation was already at 10% and we were headed into fuel shock. The investment by the BoE was to steady and it did, in a relatively quick time and Truss bailed out. There was no economy crash, that was soundbites from labour that are still firmly embedded in peoples minds. There is also no revision of history from me, just the reality which people find hard to except due to being spoon fed tag lines and having a target for their ridicule. She read the situation wrong applied the wrong strategy, and paid the price. | |||
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"The revisionism is strong in this thread… “…Flexibility was what Truss was hoping for on September 23 2022, when her chancellor, Kwasi Kwarteng, presented the government’s “growth plan”. The idea was fairly simple: the UK economy needed a shock to stimulate investment, and that shock would be a series of tax cuts. If the Truss government had asked the OBR for an assessment of its plans – as all UK governments have done since 2010 – it would probably have concluded that £45 billion of unfunded cuts would not meet the government’s own targets on borrowing and public debt. What Truss had in mind though was a different model, one in which the tax cuts would pay for themselves by convincing investors to put more of their money into the British economy. So she decided to go ahead without an OBR assessment. But instead of flocking to the UK economy, investors smelled blood. If the UK was not on track to meet its rules, it might be facing a period of instability – and investors tend to avoid instability. The pound fell sharply, British companies became less valuable and UK pensions funds were at risk of collapse. Investors even started betting against the ability of the government to repay its debt. This is when the Bank of England (independent from the government since 1998) stepped in, putting aside £65 billion to buy up UK government debt, showing investors there was nothing to gain from betting against it. Fairly quickly, the government then U-turned on most of the mini-budget, the chancellor was sacked and Truss resigned. The British economy could then start licking its wounds, and learn the lessons from a harsh experiment in economics. One of those lessons is that independent bodies exist for a reason. If the UK is seen as a credible payer of debts, the country can borrow money more cheaply. And when 9.7% of annual government spending goes on debt interest, cheap money makes a huge difference. Because the Bank of England is independent, everyone trusts it to bring inflation down. And because the Bank is credible, it only had to spend a fraction of the £65 billion it had committed to buy government debt. Without the independent Bank of England and the OBR, Truss could have tried her plan without institutional constraint. But she would have had to convince investors all over the world of the UK’s economic stability – and they would have had to take her word for it. It is hard to see how she could have succeeded. Instead, independent institutions, as well as the markets and public finance (fiscal) targets, put the brakes on “Trussonomics”. So it would appear Truss and her plans were most certainly the catalyst! You are copying a story about the reaction to the decision to make 45 billion in tax cuts with no funding. The incident happened at a time when inflation was already at 10% and we were headed into fuel shock. The investment by the BoE was to steady and it did, in a relatively quick time and Truss bailed out. There was no economy crash, that was soundbites from labour that are still firmly embedded in peoples minds. There is also no revision of history from me, just the reality which people find hard to except due to being spoon fed tag lines and having a target for their ridicule. She read the situation wrong applied the wrong strategy, and paid the price." Do you mean like when the right blame labour for the global crash in 08, no one else not even Fannie mae and Freddie Mac.. What your saying is a story happened, her and Kwarteng swerved the OBR and that set the ball rolling.. Or is that false? | |||
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"Liz Truss got things wrong, but she did not crash the economy... Technically no. But her actions and Kamikazee were a catalyst. So it’s fair to blame her
Blame her for what, specifically?
She became the public laughingstock. Probably not for a single reason, but the way she came across, her lack of self-awareness, appearing thick, her pancake like face, her condescending tone, her inability to read a room and no doubt much more....
She got it wrong, she reversed out, lost her position and paid the price when she lost the the role of PM
She didn’t reverse out…Jeremy hunt reversed her out of the policy
Irony being the Sunak actually warned her what was likely to happen for months whilst they were competing on the Conservative leadership stump!
Any yet the party membership voted here in…..
I blame them!!!
Indeed, the internal workings of the Tory party has been a pitiful example of ineptitude and protectionism. Insular and populist politicians attempting to influence the general public that they serve the people when all they are nurturing is elitist familiarity and disguise for their corruption."Perhaps more people should join... | |||
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"The revisionism is strong in this thread… “…Flexibility was what Truss was hoping for on September 23 2022, when her chancellor, Kwasi Kwarteng, presented the government’s “growth plan”. The idea was fairly simple: the UK economy needed a shock to stimulate investment, and that shock would be a series of tax cuts. If the Truss government had asked the OBR for an assessment of its plans – as all UK governments have done since 2010 – it would probably have concluded that £45 billion of unfunded cuts would not meet the government’s own targets on borrowing and public debt. What Truss had in mind though was a different model, one in which the tax cuts would pay for themselves by convincing investors to put more of their money into the British economy. So she decided to go ahead without an OBR assessment. But instead of flocking to the UK economy, investors smelled blood. If the UK was not on track to meet its rules, it might be facing a period of instability – and investors tend to avoid instability. The pound fell sharply, British companies became less valuable and UK pensions funds were at risk of collapse. Investors even started betting against the ability of the government to repay its debt. This is when the Bank of England (independent from the government since 1998) stepped in, putting aside £65 billion to buy up UK government debt, showing investors there was nothing to gain from betting against it. Fairly quickly, the government then U-turned on most of the mini-budget, the chancellor was sacked and Truss resigned. The British economy could then start licking its wounds, and learn the lessons from a harsh experiment in economics. One of those lessons is that independent bodies exist for a reason. If the UK is seen as a credible payer of debts, the country can borrow money more cheaply. And when 9.7% of annual government spending goes on debt interest, cheap money makes a huge difference. Because the Bank of England is independent, everyone trusts it to bring inflation down. And because the Bank is credible, it only had to spend a fraction of the £65 billion it had committed to buy government debt. Without the independent Bank of England and the OBR, Truss could have tried her plan without institutional constraint. But she would have had to convince investors all over the world of the UK’s economic stability – and they would have had to take her word for it. It is hard to see how she could have succeeded. Instead, independent institutions, as well as the markets and public finance (fiscal) targets, put the brakes on “Trussonomics”. So it would appear Truss and her plans were most certainly the catalyst! You are copying a story about the reaction to the decision to make 45 billion in tax cuts with no funding. The incident happened at a time when inflation was already at 10% and we were headed into fuel shock. The investment by the BoE was to steady and it did, in a relatively quick time and Truss bailed out. There was no economy crash, that was soundbites from labour that are still firmly embedded in peoples minds. There is also no revision of history from me, just the reality which people find hard to except due to being spoon fed tag lines and having a target for their ridicule. She read the situation wrong applied the wrong strategy, and paid the price. Do you mean like when the right blame labour for the global crash in 08, no one else not even Fannie mae and Freddie Mac.. What your saying is a story happened, her and Kwarteng swerved the OBR and that set the ball rolling.. Or is that false? " I’m saying in simplest of terms that the economy did not crash. I’m not sure anyone is blaming labour for the global banking crash although like Truss they the labour party were not adept in their handling of certain economic matters during the run up and post that time. | |||
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"The revisionism is strong in this thread… “…Flexibility was what Truss was hoping for on September 23 2022, when her chancellor, Kwasi Kwarteng, presented the government’s “growth plan”. The idea was fairly simple: the UK economy needed a shock to stimulate investment, and that shock would be a series of tax cuts. If the Truss government had asked the OBR for an assessment of its plans – as all UK governments have done since 2010 – it would probably have concluded that £45 billion of unfunded cuts would not meet the government’s own targets on borrowing and public debt. What Truss had in mind though was a different model, one in which the tax cuts would pay for themselves by convincing investors to put more of their money into the British economy. So she decided to go ahead without an OBR assessment. But instead of flocking to the UK economy, investors smelled blood. If the UK was not on track to meet its rules, it might be facing a period of instability – and investors tend to avoid instability. The pound fell sharply, British companies became less valuable and UK pensions funds were at risk of collapse. Investors even started betting against the ability of the government to repay its debt. This is when the Bank of England (independent from the government since 1998) stepped in, putting aside £65 billion to buy up UK government debt, showing investors there was nothing to gain from betting against it. Fairly quickly, the government then U-turned on most of the mini-budget, the chancellor was sacked and Truss resigned. The British economy could then start licking its wounds, and learn the lessons from a harsh experiment in economics. One of those lessons is that independent bodies exist for a reason. If the UK is seen as a credible payer of debts, the country can borrow money more cheaply. And when 9.7% of annual government spending goes on debt interest, cheap money makes a huge difference. Because the Bank of England is independent, everyone trusts it to bring inflation down. And because the Bank is credible, it only had to spend a fraction of the £65 billion it had committed to buy government debt. Without the independent Bank of England and the OBR, Truss could have tried her plan without institutional constraint. But she would have had to convince investors all over the world of the UK’s economic stability – and they would have had to take her word for it. It is hard to see how she could have succeeded. Instead, independent institutions, as well as the markets and public finance (fiscal) targets, put the brakes on “Trussonomics”. So it would appear Truss and her plans were most certainly the catalyst! You are copying a story about the reaction to the decision to make 45 billion in tax cuts with no funding. The incident happened at a time when inflation was already at 10% and we were headed into fuel shock. The investment by the BoE was to steady and it did, in a relatively quick time and Truss bailed out. There was no economy crash, that was soundbites from labour that are still firmly embedded in peoples minds. There is also no revision of history from me, just the reality which people find hard to except due to being spoon fed tag lines and having a target for their ridicule. She read the situation wrong applied the wrong strategy, and paid the price. Do you mean like when the right blame labour for the global crash in 08, no one else not even Fannie mae and Freddie Mac.. What your saying is a story happened, her and Kwarteng swerved the OBR and that set the ball rolling.. Or is that false? I’m saying in simplest of terms that the economy did not crash. I’m not sure anyone is blaming labour for the global banking crash although like Truss they the labour party were not adept in their handling of certain economic matters during the run up and post that time. " Ah so it is a semantics argument that means little to nothing to the layperson. She may not, by her actions being a catalyst, have “crashed the economy” but she sure did a good job of “fucking the economy”. Truss was a disaster of a PM. | |||
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"The Left Wing Campaign Group 'Led By Donkeys' have had a new Banner made and apologise for previously misleading the general public . . . the new banner reads. ***** I'm Liz Truss The shortest serving Prime Minister in the History of the UK and my mini-budget was received badly by financial markets because it included temporary spending measures whilst permanently cutting tax rates. It was blamed for the pound falling to its lowest ever rate against the US dollar (US$1.033) and prompted a response from the Bank of England which, amongst other measures, bought up government bonds; the public reaction was also broadly negative. The mini-budget was criticised by the International Monetary Fund and the US president Joe Biden ***** I'm Liz Truss and I endorse this Banner. "Yes but… Liz Truss didn’t “crash the economy” | |||
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"The Left Wing Campaign Group 'Led By Donkeys' have had a new Banner made and apologise for previously misleading the general public . . . the new banner reads. ***** I'm Liz Truss The shortest serving Prime Minister in the History of the UK and my mini-budget was received badly by financial markets because it included temporary spending measures whilst permanently cutting tax rates. It was blamed for the pound falling to its lowest ever rate against the US dollar (US$1.033) and prompted a response from the Bank of England which, amongst other measures, bought up government bonds; the public reaction was also broadly negative. The mini-budget was criticised by the International Monetary Fund and the US president Joe Biden ***** I'm Liz Truss and I endorse this Banner.
Yes but… Liz Truss didn’t “crash the economy” "I especially like your quotation marks, it adds emphasise just in the right place. | |||
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"The revisionism is strong in this thread… “…Flexibility was what Truss was hoping for on September 23 2022, when her chancellor, Kwasi Kwarteng, presented the government’s “growth plan”. The idea was fairly simple: the UK economy needed a shock to stimulate investment, and that shock would be a series of tax cuts. If the Truss government had asked the OBR for an assessment of its plans – as all UK governments have done since 2010 – it would probably have concluded that £45 billion of unfunded cuts would not meet the government’s own targets on borrowing and public debt. What Truss had in mind though was a different model, one in which the tax cuts would pay for themselves by convincing investors to put more of their money into the British economy. So she decided to go ahead without an OBR assessment. But instead of flocking to the UK economy, investors smelled blood. If the UK was not on track to meet its rules, it might be facing a period of instability – and investors tend to avoid instability. The pound fell sharply, British companies became less valuable and UK pensions funds were at risk of collapse. Investors even started betting against the ability of the government to repay its debt. This is when the Bank of England (independent from the government since 1998) stepped in, putting aside £65 billion to buy up UK government debt, showing investors there was nothing to gain from betting against it. Fairly quickly, the government then U-turned on most of the mini-budget, the chancellor was sacked and Truss resigned. The British economy could then start licking its wounds, and learn the lessons from a harsh experiment in economics. One of those lessons is that independent bodies exist for a reason. If the UK is seen as a credible payer of debts, the country can borrow money more cheaply. And when 9.7% of annual government spending goes on debt interest, cheap money makes a huge difference. Because the Bank of England is independent, everyone trusts it to bring inflation down. And because the Bank is credible, it only had to spend a fraction of the £65 billion it had committed to buy government debt. Without the independent Bank of England and the OBR, Truss could have tried her plan without institutional constraint. But she would have had to convince investors all over the world of the UK’s economic stability – and they would have had to take her word for it. It is hard to see how she could have succeeded. Instead, independent institutions, as well as the markets and public finance (fiscal) targets, put the brakes on “Trussonomics”. So it would appear Truss and her plans were most certainly the catalyst!" Well said-the idea that Truss was anything other than a delusional and immature fan of the Tufton Street concensus is for the birds. She is/was entirely symptomatic of the lack understanding of the real world that the ruling classes in this country suffer from-and the rest of us have to suffer even more…! lol | |||
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"Can’t believe anybody would attempt to excuse or defend the Truss Marionette! The culmination of the neo-liberal experiment failing on a massive scale. What I find really intriguing is how. Like her new found idol "The Donald" she went from a liberal to a right wing poster lady. It's like the movie Invasion of the Bodysnatchers must be happening in real life. " Need to be VERY careful with the idea of ‘Liberal’ in the context of economics it means ‘libertarian’ ie fascist…. | |||
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"Can’t believe anybody would attempt to excuse or defend the Truss Marionette! The culmination of the neo-liberal experiment failing on a massive scale. What I find really intriguing is how. Like her new found idol "The Donald" she went from a liberal to a right wing poster lady. It's like the movie Invasion of the Bodysnatchers must be happening in real life. Need to be VERY careful with the idea of ‘Liberal’ in the context of economics it means ‘libertarian’ ie fascist…." Quite right | |||
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"Can’t believe anybody would attempt to excuse or defend the Truss Marionette! The culmination of the neo-liberal experiment failing on a massive scale. What I find really intriguing is how. Like her new found idol "The Donald" she went from a liberal to a right wing poster lady. It's like the movie Invasion of the Bodysnatchers must be happening in real life. Need to be VERY careful with the idea of ‘Liberal’ in the context of economics it means ‘libertarian’ ie fascist…. Quite right "Starmer would say it's far right  | |||
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"[Removed by poster at 15/08/24 21:33:58]" Deleted and tapping out on this one, the wisdom of Twain as my guide 🏃🏻➡️ | |||
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