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The Official Liz Truss Clusterfuck PM thread


Clown Job

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1 hour ago, Monkey Tennis said:

I'm genuinely very angered by this 'fiscal event' and its contents.

Morally, it's truly, truly disgusting, and significantly worse than any stroke Thatcher pulled.

Even if it works in its own narrow terms (and most think that's unlikely) and manages to boost growth, so fucking what?  

With a government this ideologically opposed to any kind of redistribution based on fairness, it won't help.  The belief in trickle down, is hugely discredited, and I don't think those behind this really care about that anyway.

Given her flimsy mandate and her behaviour here, the required response involves rioting in the streets.

I think that criticisms based on 'trashing the last 12 years' or on 'a huge gamble' completely miss the point.  Crazy right wing nut jobs have grabbed the wheel, and they have no interest whatever in whether this works in a wider sense for society.

 

This is disastrous.

Apologies if this is repetitious but there’s two things I’m now convinced of.

Firstly, the Tories know they will not win in 2024 and are playing the long game.  Introducing legislative, regulatory and fiscal changes that will benefit their backers and their ideologies in the short to medium term and that will be difficult for an incoming Labour government to unpick in a single term.  Getting back in in 2028/29 will allow them to continue where they left off and create a whole new neoliberal environment.  However much I dislike Truss and her fellow travellers you have to admire their vision and determination.

Secondly, Labour under Starmer will have neither the balls or the vision to realise what needs to be done to rewind the damage and start to put things right.  Let’s face it whoever is elected in 2024 is getting handed a shit sandwich, greatly exacerbated by how Truss is funding the energy relief scheme for households and businesses.  I just don’t see PM Starmer introducing the sort of reforms needed to address the problems and if he decides to make changes to the personal tax regime too quickly it will definitely hinder chances of a second Labour term.

Only a change from FPTP at Westminster has any chance of stymieing the Tory ideologues in 2028 and I don’t see that happening.

 

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16 minutes ago, Granny Danger said:

Apologies if this is repetitious but there’s two things I’m now convinced of.

Firstly, the Tories know they will not win in 2024 and are playing the long game.  Introducing legislative, regulatory and fiscal changes that will benefit their backers and their ideologies in the short to medium term and that will be difficult for an incoming Labour government to unpick in a single term.  Getting back in in 2028/29 will allow them to continue where they left off and create a whole new neoliberal environment.  However much I dislike Truss and her fellow travellers you have to admire their vision and determination.

Secondly, Labour under Starmer will have neither the balls or the vision to realise what needs to be done to rewind the damage and start to put things right.  Let’s face it whoever is elected in 2024 is getting handed a shit sandwich, greatly exacerbated by how Truss is funding the energy relief scheme for households and businesses.  I just don’t see PM Starmer introducing the sort of reforms needed to address the problems and if he decides to make changes to the personal tax regime too quickly it will definitely hinder chances of a second Labour term.

Only a change from FPTP at Westminster has any chance of stymieing the Tory ideologues in 2028 and I don’t see that happening.

 

I don’t disagree all that much with your political analysis.

Where I do disagree is that I think that this is a brilliant budget at just the right time and will increase GDP.

The BoE needs to increase interest rates to support the pound(good for your cash balances) and government needs to bear down hard on public expenditure where possible.

Britain needs to be seen as an island for enterprise and somewhere great for business to be done.

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18 hours ago, Detournement said:

They ditched the Gold Standard after 7 years of trying to defend sterling to the extent of intervention by the Monarch and a government of national unity. They had no choice because Hitler was doing proto MMT and Britain needed to rearm.

The National coalition was created by the split of the Labour government - in part over the issue of protecting the pound and the budget restrictions needed to do so. Once the Tories were in the driving seat, they ditched gold. 

Quote

 

In the 80s Thatcher crashed the pound while carrying out an economic revolution that massively enriched her backers and had tangible benefits for her voters.

The current Tories have crashed the pound due to 12 years of economic illiteracy and have absolutely nothing to show for it. There is no comparison. 

 

The pound's crash is as a partial result of the Tories handing over rewards to their backers, so it absolutely is a viable comparison. 

Right-wing parties are always able to and frequently do run up ruinous deficits and currency crashes in government, before mewling about the left 'maxing out the credit card' when they're in opposition. It's the fundamental double standard of any capitalist 'democracy'. 

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7 hours ago, Dawson Park Boy said:

I don’t disagree all that much with your political analysis.

Where I do disagree is that I think that this is a brilliant budget at just the right time and will increase GDP.

The BoE needs to increase interest rates to support the pound(good for your cash balances) and government needs to bear down hard on public expenditure where possible.

Britain needs to be seen as an island for enterprise and somewhere great for business to be done.

Yes, just think cayman islands and unfortunately the vast majority of us are going to be on "the wrong side of the tracks"........

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I don’t disagree all that much with your political analysis.
Where I do disagree is that I think that this is a brilliant budget at just the right time and will increase GDP.
The BoE needs to increase interest rates to support the pound(good for your cash balances) and government needs to bear down hard on public expenditure where possible.
Britain needs to be seen as an island for enterprise and somewhere great for business to be done.
You are an economic illiterate.

It's economic madness.
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8 hours ago, Dawson Park Boy said:

Where I do disagree is that I think that this is a brilliant budget at just the right time and will increase GDP.

I’d love to know what medication causes this level of delusion.

8 hours ago, Dawson Park Boy said:

The BoE needs to increase interest rates to support the pound(good for your cash balances)…

The increase in interest rates benefits the passive investor and the banks/financial companies, not the chap with £200 in the bank. Hell, let’s say you have £1,000 in the bank, drawing 1% interest…or around £10 a year. Raise the rates so the bank offers you 4%, and you are now getting £40 a year. That’s nothing, and everything you buy on any installment plan is now more expensive.

9 hours ago, Dawson Park Boy said:

…and government needs to bear down hard on public expenditure where possible.

Ah yes, the myth of the wasteful public expenditure crisis. The waste isn’t in benefits, which are pitiful (AND whose distributed funds are generally responsible for triple return in total expenditure), but in giveaways to corporate friends and services owners. A failure to provide a comprehensive public safety net will drive Britain further down the pathway the U.S. is blazing to hell.

9 hours ago, Dawson Park Boy said:

Britain needs to be seen as an island for enterprise and somewhere great for business to be done.

Which explains why Corporations and such fled after BREXIT, and why new businesses set up in Europe because it isn’t viable to export to Europe from Britain because the Tory’s have made a complete dogs breakfast of any and all deals they tried to reach. There still aren’t any of the promised other deals around the world, the Pound Sterling has lost any pretense of even any secondary Reserve Currency role, and small British businesses that used to have European markets can’t export anymore due to the paperwork the Tory’s idiocy has imposed.

Right now, around the world, Britain is seen as a backward, out of touch, kleptomaniacal, royalty worshiping island of savages who paint their bodies blue and moan about industrious Europeans.

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Kwasi Kwarteng got a first in history and classics at Trinity so presumably the history part didn't cover modern UK history 

These are the biggest tax cuts in 50 years said BBC news the other day. So what happened last time?

Ted Heath was in power and his Chancellor was Anthony Barber. Barber's tax cuts, designed to win the next election, fuelled "The Barber Boom" which lead to stagflation - huge inflation and stagnant growth. The inflation led to workers demanding pay increases and strikes at the end of 1973. This was also coupled with the oil crisis of 1973 too, a parallel with the Russian gas tap being shut off. The pound also lost value.

Heath lost 2 elections in 1974 and was replaced by Thatcher as Tory leader and a new economic approach by the Tories. Barber got a job in banking...

Thatcher was always seen by some (Tories mainly) as having saved the British economy (what would have happened without North Sea oil revenues..) by moving away from such economic measures as have just been enacted. The children of Thatcher, Truss and Kwarteng, seem to have just ignored this totally.

"History repeats itself. First as tragedy, then as farce"- Karl Marx.

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2 hours ago, tamthebam said:

Kwasi Kwarteng got a first in history and classics at Trinity so presumably the history part didn't cover modern UK history 

These are the biggest tax cuts in 50 years said BBC news the other day. So what happened last time?

Ted Heath was in power and his Chancellor was Anthony Barber. Barber's tax cuts, designed to win the next election, fuelled "The Barber Boom" which lead to stagflation - huge inflation and stagnant growth. The inflation led to workers demanding pay increases and strikes at the end of 1973. This was also coupled with the oil crisis of 1973 too, a parallel with the Russian gas tap being shut off. The pound also lost value.

Heath lost 2 elections in 1974 and was replaced by Thatcher as Tory leader and a new economic approach by the Tories. Barber got a job in banking...

Thatcher was always seen by some (Tories mainly) as having saved the British economy (what would have happened without North Sea oil revenues..) by moving away from such economic measures as have just been enacted. The children of Thatcher, Truss and Kwarteng, seem to have just ignored this totally.

"History repeats itself. First as tragedy, then as farce"- Karl Marx.

05336B6D-FE92-4D0D-863D-35238CB2FD45.thumb.jpeg.2d742ee56ac69888c4d1be5e7fcfc8b6.jpeg

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10 hours ago, Theroadlesstravelled said:

Dawson Park Boy absolutely reads both the Daily Mail and Daily Express.

These are the morons that voted the country into this mess and they still put the blame on benefit scroungers and poor people.

Trickle down economics - tug your foreskin whenever your betters, the super-rich, appear and spit on the scum beneath you (and don't even think about what might happen should you suffer a bit of bad luck - don't even think about it).

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22 minutes ago, btb said:

Trickle down economics - tug your foreskin whenever your betters, the super-rich, appear and spit on the scum beneath you (and don't even think about what might happen should you suffer a bit of bad luck - don't even think about it).

You seem to suffer from an inferiority complex.

 

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10 hours ago, Theroadlesstravelled said:

Dawson Park Boy absolutely reads both the Daily Mail and Daily Express.

These are the morons that voted the country into this mess and they still put the blame on benefit scroungers and poor people.

Daily Mail- yes

Daily Express- no.

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12 minutes ago, Dawson Park Boy said:

You seem to suffer from an inferiority complex.

 

Your 1800 wrong there!

Edit - Having said that I'm not sure if your a fake persona and the greatest/saddest hoaxer on P&B.

Edited by btb
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  • Clown Job changed the title to The Official Liz Truss Clusterfuck PM thread

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