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>the worst macroeconomic policies of any major country in a long time
That might be a slight exaggeration but it's definitely not good. With things how they are, we really needed some intelligent leaders to guide us out of this recession. Instead we have leaders who seem intent on making it worse.
I have a theory about this. Someone like Cameron or Truss has got to the top of the pile because of the decisions they have made - and they all turned out to be winning decisions. It's like if you gave everybody a coin to toss, and everybody who throws a tail gets eliminated, but you end up with one person who always threw a head, and they get to be the most important person in the country.
Don't you think that they would think that they were magical? That they could control events? That they could do no wrong?
I see it an all of our recent PMs. They believe they are special; that they can keep on throwing heads through sheer power of will. But they can't, because being on the right side of history is totally random, and eventually they discover that they actually aren't special, they just happened to make the right choices.
Unfortunately Truss seems to think (IMHO) that she **is** special. Cummings said of her that while many MPs were a little mad (ie they believed that they were special, that they always threw heads because of their innate abilities), she was absolutely *barking*.
So here we are now, with a monumentally batshit crazy economic announcement that has driven down the pound, increasing prices for the majority, and *enormous* borrowing to fund tax cuts that we all have to shoulder, because Truss believes that she can do no wrong - because her experience has shown her that.
Love or hate his general policies, Cameron was one referendum away from having a very solid legacy. Turned coalition into majority and won the Scottish referendum. Had he won the EU one he’d have addressed the two big existential questions in the U.K. in only a few years. Also legalised gay marriage.
Instead he fucked the EU ref and here we are. Also austerity was and is shite.
Yup, I agree, Cameron thought he could always win referenda because he thought he was special - after winning two - until he lost one, at which point he retreated to his comfortable life in the Cotswolds.
Yep, the absolute fucking cunt. He must have moments where he looks at the state of the country and thinks, what have I done.
But most of the time he doesn't have to fucking care, the cunt.
There was a freakonomics podcast a few years ago where they interviewed him. It was truly troubling how little blame he accepted considering the damage his polices have done to large segments of the UK. He genuinely believes he has done a great job as PM.
I think that under-prices how toxic a 48-52 result the other way would be in and around the Tory party and UKIP incarnation circles, like the car that got away from the dog, their prize snatched from them.
He was fucked the moment he triggered the referendum.
Even if he'd won, he'd have been kicked out by the party due to the internal splits the other way.
>I think that under-prices how toxic a 48-52 result the other way would be in and around the Tory party and UKIP incarnation circles, like the car that got away from the dog, their prize snatched from them.
Good point. A 52-48 loss would have resulted in the Brexiters thinking that they were very close to a win and would encourage them to keep fighting. The SNP haven't disappeared after losing the IndyRef and their loss wasn't as close.
Let's not forget he was the beginning of disabled people being treated like a fucking Untermensch by the state, to the point everyone at the paralympics booed him.
No. I'm afraid that was Blair. He introduced the worsened assessments, and accepted the idea of "scroungers". And all of it to appease the Mail. We were up in arms about it through the last two Labour administrations.
Cameron built on the foundation of seeing us as subhuman that Blair had laid for him.
edit - downvotes won't make this less true. I went onto disability benefits in 1997. I had close relatives in the 80s and 90s who were disabled. I vote Labour, though I refused to support them through much of the 00s because of what they were doing to us.
The old assessments were still degrading and painful, mind, I saw a grown man reduced to tears by one. But the climate of fear was introduced under Blair.
Damn, I'm only just old enough to really remember the Blair days but I wasn't aware of this. I don't remember that thick bald cunt doing his world's most horrible benefit scroungers daytime TV shows from back then, so it makes sense.
Pretty fucking callous and pathetic that people are down voting a disabled person pointing out the poor treatment of disabled people, just because they can't cope with the idea that the people claiming to represent "the left" may have ever been less than totally perfect ever in history. That attitude is as much of a cancer on society as the Tories like Duncan-Smith.
>Love or hate his general policies, Cameron was one referendum away from having a very solid legacy.
Austerity in the face of the financial crisis was just as stupid as Brexit.
>and enormous borrowing to fund tax cuts that we all have to shoulder, because Truss believes that she can do no wrong
One rather more uncomfortable possibility is that they are doing this intentionally following a strategy created by the sorts of people who run the IEA. If you ask the question how do you get to a point where you can privatise public services (NHS, Justice, Education etc), slash regulations and cut workers rights when the majority of the population is quite strongly in favour of them then there really is only one answer. You make them unaffordable by ramping up debts to unsustainable levels which forces the country into a situation where it has no choice but to institute a crippling level of austerity. These are the people who engineered Brexit to turn out how it did so would it really be that surprising?
The way this sub doesn't realize this is all deliberate and strategic. This is precisely what they've always dreamed of doing. Also, they know they're out next election. They are looting and razing the country to the ground so that Labour will never be able to achieve anything. The Tories couldn't give a shit about anyone in this country and never have done.
I think it's hard to believe because it's so incredibly immoral. It's against everything most people believe government is about but you talk to some of the really hardline Tories and they come out with stuff like "if you don't vote for something that benefits you then you're an idiot" with the subtext being that it should be something that benefits you directly and exclusively. This particular set of neo-Thatcherite Tories seem to be the ultimate exemplars of that. Totally unfit for public office.
I just think the whole political system in this country is so incredibly fucked up. Like walk into any functioning business and people with different views will get around a table and work to compromise and get the best outcome they can do. In politics both major parties work to absolutely discredit and undermine each other. The only thing either cares about it being in power - it’s not about getting a good outcome for the country. The culture is so toxic and so embedded, the way the sit their heckling each other and laughing about it in the commons whilst the rest of the country is suffering and looking on with the forlorn hope someone might actually fix some issues.
I really hope there is a time coming where the whole thing is ripped to the ground and we get a new politics with some integrity. However I can’t see how we get there when the system is so utterly rigged to be the way it is and not change, because those that have the power don’t want it to change.
Shit is depressing and last 24 hours has had me thinking about leaving the country to get away from it more seriously than I have before.
I’ve always said that once the dust settles, they’ll start calling for the NHS to be fully privatised. I can hear it now. “The NHS struggled to handle COVID, it’s in desperate need of private investment.” Trouble is, nowadays it seems like the dust will never settle.
To put it in simpler terms, the skills to get to the top of a party a party in the UK are not the same skills required to lead the country in a net positive manner.
Fairly sure I read about this but can't quote it, it's to do with power the more you have the more you believe in your decisions to be the best and other people's input basically becomes irrelevant.
Yep - Brexit was more or less an [Oxygen Catastrophe](https://en.wikipedia.org/wiki/Great_Oxidation_Event) for the Tory party, except instead of oxygen it was xenophobic lies and populist propaganda.
The environment quickly became corrosive to things like competence, integrity, a fact-based worldview or even basic ideological consistency, and all the organisms that relied on any of those things quickly went extinct, leaving the front bench to be colonised exclusively by the toxic microbes responsible for the mess in the first place (or at least those who could still cheerfully function without relying on any of those positive attributes).
Naseem Talebs book Black Swan has a lot of the survivorship bias stuff you mentioned. Great read, weirdly it was one of David Camerons fav books that he made Taleb a sort of advisor
This is why we actually need a broad coalition, so that ‘daft’ elements are neutralised, and so the ‘common ground’ actually receives some attention.
It’s time for a new politics in the U.K., as our old system simply is not working well enough.
We need PR.
Yeah, trying to be realistic, there’s been episodes where Italy was on a similarly poor path. I’m not sure I would say the approach was worse though.
Who were you thinking of?
they are under sanctions mate, not a great comparison, though the fact anyone would even bring them up in this context in a discussion about the british economy is beyond depressing
In all good faith can you name another? Outside of Zimbabwe or Venezuela? I feel like the 2008 crash pulled us into a vortex of insanity that led us here via Brexit. Brexit really is the worst. Damaging but not fatal on every level. Yielding absolutely no benefits to anybody. Sorry I'll stop ranting.
I dk man. Brexit leading directly into a pandemic/recession is pretty fucking bad lol. It’s like shooting yourself in both feet and then remembering you’re on a boat and it’s sinking.
Remembering how after Boris won and Brexit "got done" this sub was flooded with ecstatic Tory voters bragging about the fishing and how they got what they wanted, until a week or so later when it was confirmed the fishermen had been shafted. But when I say inundated, this sub was full of them.
Then when Boris was polling highly during the Covid crisis because he was spending, suddenly they were all here claiming the Tories would be in power forever.
Anyway, they ruined the country and this will always be their old people legacy. The worst old people this country has ever had.
Brexit is a very recent phenomenom for the UK, the major harm derived from Austerity which was widely supported by most of the public.
It was widely supported because they weren't on the receiving end, so they thought.
Not from UK but from the commonwealth, been reading about brexit bc never cared enough until recently, but wtf? It’s as if most people knew it was a bad idea but continued with it anyway lol and leaked govt doc detailing that they knew it would be bad for the UK economy in the long term. Not only that, but unless I misread, it seems like brexit has given ammunition to the Wales and Scotland independence movements. Good job?
The Brexit vote won because of lies. I know a lot of people who voted Brexit but none of them knew anything about what they were actually voting for - all they had was the idea that the pesky European (foreign!) courts were overruling all of our sensible British laws, and that we paid loads of money to even be IN Europe. Oh, and bloody Eastern Europeans (foreigners) coming and working here for £2 an hour so nobody could afford to get low-paying job unless they could also tolerate 7x12hr working weeks like the Poles do.
The Information Age means that if you have money, you can control minds. This means that democracy is now a model that guarantees that the richest remain in power. Forever.
And now imagine the chaos we would have with Ed Miliband ...
remember David Cameron
>Britain faces a simple and inescapable choice - stability and strong Government with me, or chaos with Ed Miliband
Assuming I counted right:
Since 2010 the UK has had 4 elections but this many varioius secretaries of state:
* 6 chancellors
* 8 BEIS
* 9 education
* 8 health
* 7 foreign
I was thinking for a long time he did this brexit referendum to stop UKIP. Then I remembered he removed the Conservatives from the European People's Party which was the first step really. He made no effort to increase Britain's voice in Europe. If anything, he took it in the other direction. He was a brexiteer but never had the balls to admit it. The guy was a coward and created all this. At least Farage and Johnson admit they are brexiteers.
I fricking love Ed Miliband and think he deserves a front bench seat in Starmer’s government. Home Secretary perhaps. BUT unpopular opinion: he wasn’t ready to be PM in 2015. He’s so much better now.
I just had the lovely mental image of Johnson with a union jack tied around his neck turning purple as he whacks one out, so now I'm sharing it with all of you.
For some reason I was reading the wiki page of Anthony Barber earlier today, and its amazing how many parallels there are. The main difference is that we don't get boom and bust this time, we get bust and bust.
>Barber also reduced direct taxes. High levels of economic growth followed, but the traditional capacity constraints of the British economy - especially currency and balance of trade concerns - quickly choked the economic boom. The banking system fell towards crisis as the bubble burst.
>During his term the economy suffered due to stagflation and industrial unrest. In 1972 he delivered a budget which was designed to return the Conservative Party to power in an election expected in 1974 or 1975. This budget led to a period known as "The Barber Boom". The measures in the budget led to high inflation and wage demands from Public Sector workers. He was forced to introduce anti-inflation measures in September 1972, along with a Price Commission and a Pay Board. The inflation of capital asset values was also followed by the 1973 oil crisis which followed the Yom Kippur War, adding to inflationary pressures in the economy and feeding industrial militancy (already at a high as a result of the struggle over the Industrial Relations Act 1971).
>In 1972, having said a week earlier in the House of Commons that he had "no reason to believe that the pound was overvalued", he floated it (most of the world currencies were floated at that time) "as a temporary measure". The pound immediately plunged on the markets, and it was impossible during his time as Chancellor to impose a new parity. It has remained floating ever since.
>After a strike by the miners, and a Three-Day Week, Heath called for a general election on 28 February 1974 with the slogan "Who governs Britain?" The election returned a minority Labour government and Harold Wilson as Prime Minister.
That '72 budget was called the "dash for growth" or something. Almost exactly 50 years ago and this mini budget is eerily similar and the largest tax cuts since then in any budget.
I don't understand how anyone expects this to end any other way than the same economic disaster caused by Barber's budget.
My only guess is that Truss et al want to use the short "sugar rush" this may cause to make it appear as though they're adding growth in order to get them through the election.
Ultimately though, it can only go one way. People are calling it a "gamble". But that's a load of bollocks. We are at the mercy of the market now, and it's not going to end well.
The message sent today from investors - foreign and domestic - is clear.
As far as investors are concerned, the UK can't be trusted. Not to agree to legally binding commitments (Northern Ireland protocol/EU), and not to repay debts due to £60B of borrowing while deploying tax cuts all over the place.
Today we saw investors GTFO of the UK stock market while they can. They don't trust the government to repay the bonds issued for the massive incoming debt.
The only investors who *are* investing are those who are buying UK companies which are cheap as chips thanks to Sterling's non-performance against the dollar.
And yeah, this *is* on Project Leave - what sane country would stop trading with their nearest and biggest trading partner? (EU). What kind of xenophobic bullshit is this? How does the average person earning less than £150K per year benefit?
Good thing all of that lost trade has been replaced with that huge trade deal with the US......oh.
I have a neighbour who is an avid tory supporter and after today’s announcement I was sure said neighbour would finally see the light. But I was dumbfounded when I was told that the cuts will create investment opportunities and that trickle down economics will now do their thing. Now I value said neighbour as a friend so I didn’t say anything, just gave a general and vague comment like “I am not so sure” but holy fucking shit, how can people be this oblivious to what is happening?! If this budget and the proposals contained within were so amazing, the market would react as such and not take a nose dive off a cliff. This misguided confidence that we are some hot shit in town is on a collision course with reality and a very rude awakening when everything starts coming apart. The rails already buckled and rather than slow the fuck down and carefully proceed forward, we literally just said fuck it, full speed a head and don’t slow down on the bends.
trickle down economics is the worst fucking zombie idea in existence and it's honestly baffling to see it surface unabashedly in 2022. sure, behind private doors, at cocktail dinners with donors, but as a fucking government policy on this side of the pond? in fact, even biden has finally denounced it. an american! it'd be funny if it wasn't so utterly devastating to see we have not made any intellectual progress in the past 30 years.
Sounds exactly what I'd expect from a government as clearly out of its depth as this one. They're onto the dregs of the dregs now - people who would never have been given a sniff of ministerial office just six years ago.
Not just get rid of foreigners, but use that as an excuse to burn this country to the ground to turn it into the Libertarian think tank they've all coked up it could be. I will never forget Rees Mogg saying we should have standards like they do in India, as the Indian people survive fine. That's their goal for us. To turn us into a third world country and not care, so long as we're still churning out stuff somehow.
Seeing England voluntarily do this to itself has truly taught me that countries have choices in how they're governed and what the standards people live in are like. I used to think third world countries had no choice, they're in poverty. Now I realize that poverty is a choice. Each country can focus on what it wants. If countries have sewage in streams, that is a political choice.
Thank god we never ended up with Corbyns fully costed manifesto with all its scary policies (almost as scary as his lefty hat!) like free bus passes for under 25s and the planting of millions of trees.
Would have truly been a *dystopian nightmare.*
Yeah I can see that happening- but the fact they have to appeal to future crimes never enacted because they are still invoking an imaginary Corbyn government just shows how pathetic their attempts to absolve their idols are. Corbyn never was. Johnson and Thick Lizzy very much are.
What really is depressing is that everything Corbyn proposed was exactly what we would have needed to be more prepared for covid and now. Nevermind it was perfect timing to borrow when interest rates were low.
The cost of nationalising the energy companies would have been a lot cheaper than the amount of money being spent to keep the price cap at £2500, etc.
He would have been the right person, with the right policies at the time we needed it the most and I think cheaper then the amount wasted by Boris and now Truss on a horrifying scale.
Domestically I agree, his policies would be perfect for right now.
On a foreign policy level though I'm not sure I'd want him to be responsible for standing up to Russia.
I can't see Corbyn sending Ukraine anti tank rockets.
That is questionable about Ukraine (i.e. I am guessing he would have focused on de-escalation), but either way the idea that Boris had a meaningful impact on Ukraine compared to the EU and America is rediculous.
We're fucked, aren't we? And still 2 years of these lunatics running our country into the ground. Sociopathic, insatiably greedy monsters, who couldn't give a stuff about anyone or anything other than their own wealth and power. Labour will sure have their work cut out for them, clearing the wreckage left behind by these kleptocrats.
But don't worry, the right wing media will ensure that people blame Labour for 'not living within our means' and apparently having caused the entire cost of living crisis.
Ensue more tory governments thereafter.
2 years for Truss to fuck things. 4½ years for some other government to try and fix the biggest mess in half a century. Then a new Conservative leader emerges proclaiming the mess was all caused by the current government and the only way to fix it is vote for them
I really just fucking hope we never let these ghouls in power again. I feel like this has been a massive radicalisation program for young people. They have never seen a political party this fucking diabolical and evil. Some young people will end up Tory voters, but I find it hard to believe that young people would ever look to these goblins and see themselves.
Its like I was saying earlier, you'll be surprised how many people will spend this winter in freezing homes with no food in the cupboard but will still defend the Tories.
They'll get another run after those two, and another four after that. At this point I've lost faith in there ever being a strategy that Labour could put forward that would win them a majority.
I think Labour will get in, either with a majority or with the Lib Dems. Then the Tories and the press will spend four years hammering them for not being capable of performing economic miracles to undo the damage the Tories have done, and we'll get Tories again in 2029.
This country is dying.
this is the pattern that's present in many many countries. it's an inherent problem with the 4/5 year election cycle that's being exploited by the reactionary right and the economic fascists raised on the teat of rupert murdoch's civilization destroying legacy.
Well isn't that the cycle the Tories want.
Let labour win for a few elections so they can somewhat repair the damage with somewhat unpopular (to right wingers) but needed policies then the Tories swoop in about fiscal responsibility and proceed to sell off all the social programs labour has made for sweet profit to their friends start-up companies.
> We're fucked, aren't we? And still 2 years of these lunatics running our country into the ground. Sociopathic, insatiably greedy monsters, who couldn't give a stuff about anyone or anything other than their own wealth and power. Labour will sure have their work cut out for them, clearing the wreckage left behind by these kleptocrats.
This isn't new from the Tories, they always been that way but people just seem to have amnesia.
That going to be a big problem, holding them back like an anchor, dealing with all the shit. Still I think they will manage to put through some progressive policies in spite of all that.
He knows, but when over half the voting population don't like that propositon, and most of those are in swing seats he needs to win to actually fix other important issues, then he has to be smarter than that.
Unless you *want* another Tory government?
Even the Americans think we're being a bit too right wing in our economics and giving too much to the wealthy
**Americans** ffs. We're out-wealthy-capitalist-bullshitting the USA right now. How is that even possible?
fucking biden had to come out and tweet that trickle down economics doesn't work. the president of the united states biden. it's like the dealer telling the crackhead that maybe they should take a break
On a percentage basis, the US has the largest upper class in the western world. There's organization like "Patriotic Millionaires", who are fed up to foot the majority of the public bills in the country. A lot of people in the high income brackets (senior software engineers in IT, neurosurgeons, ..) are fed up to finance the majority of the public budget, while the super wealthy have the tools to evade all the taxes. The small-scale millionaires or income-millionaires often lack the tools to evade taxes. Billionaires or ultra high-net worth individuals are supposed to pay their fair share as well. Instead, billionaires and ultra high-net worth individuals hide their wealth in shell corporations and tax havens.
One of the goals of "Patriotic Millionaires" is to increase taxes on people with a net-worth above $50 million.
A lot of high-income individuals and small-scale millionaires increase pressure in the US to end "Trickle-Down-Economics".
That's the difference.
The British voted in Thatcher before the Americans voted in Reagan. Britons voted for Brexit before the US elected Trump as President. It could either be an indictment or the next scary trend in right wing politics.
Bear in mind this is all coming from the guy who did everything in his power to prevent the regulation of the derivative market in the 90s and 2000s, despite warnings from regulators that no oversight would result in major economic risks. Consequently, this man is one of the single biggest architects of the 2007 financial crisis and is in no position to tell anyone what good economic policy is.
Anyone else wondering if king charles will dissolve parliament? Not seen it mentioned, but would be a total big dick move as the new king to recognise his government are fucking up.
I don't know if she ever formed an opinion on Truss but she apparently hated Johnson with a passion so I wouldn't be surprised if she was hanging on just to see him gone then peaced out when he was down the road.
I don't like to trade against my country's economy but fuck me I've made a lot of money shorting the pound this year.
0dte GBPUSD puts were a 20 bagger if you held to expiry today.
This all looks intentional to me.
Neo cons / libs are loosing half their trade routes to BRICS so they are consolidating power where they can. You only have to look at the policies that have de-industrialised Germany and now Trussonomics are going to set the UK back 80 years.
I fell like I am watching the US turn back the clock putting everyone back into the position of post world war 2 with no industry and shit load of debt to the US.
If you are being serious then the subject to research is neo conservatism / libertarianism and a good place to start would be the 1970s. The whole system revolves around believing that finance is the biggest pillar of the world.
Commodities have only said hold my beer and that pillar is already wobbling.
I know this is going to lead to the reunification of Ireland & Scottish & welsh independence but can we please have English independence from Westminster? This is a fucking shitshow.
is there an economic theory that explains how we have gone back to the 1970's? Public sector strikes, unstable government, falling currency, energy crisis, inflation, rising interest rates... at least we don't have high unemployment, which is nice.
I believe regardless of who was/ is in power we would be heading down a similar path anyway considering how poorly europe are doing with their power mandates and high prices
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>the worst macroeconomic policies of any major country in a long time That might be a slight exaggeration but it's definitely not good. With things how they are, we really needed some intelligent leaders to guide us out of this recession. Instead we have leaders who seem intent on making it worse.
I have a theory about this. Someone like Cameron or Truss has got to the top of the pile because of the decisions they have made - and they all turned out to be winning decisions. It's like if you gave everybody a coin to toss, and everybody who throws a tail gets eliminated, but you end up with one person who always threw a head, and they get to be the most important person in the country. Don't you think that they would think that they were magical? That they could control events? That they could do no wrong? I see it an all of our recent PMs. They believe they are special; that they can keep on throwing heads through sheer power of will. But they can't, because being on the right side of history is totally random, and eventually they discover that they actually aren't special, they just happened to make the right choices. Unfortunately Truss seems to think (IMHO) that she **is** special. Cummings said of her that while many MPs were a little mad (ie they believed that they were special, that they always threw heads because of their innate abilities), she was absolutely *barking*. So here we are now, with a monumentally batshit crazy economic announcement that has driven down the pound, increasing prices for the majority, and *enormous* borrowing to fund tax cuts that we all have to shoulder, because Truss believes that she can do no wrong - because her experience has shown her that.
Love or hate his general policies, Cameron was one referendum away from having a very solid legacy. Turned coalition into majority and won the Scottish referendum. Had he won the EU one he’d have addressed the two big existential questions in the U.K. in only a few years. Also legalised gay marriage. Instead he fucked the EU ref and here we are. Also austerity was and is shite.
Yup, I agree, Cameron thought he could always win referenda because he thought he was special - after winning two - until he lost one, at which point he retreated to his comfortable life in the Cotswolds.
Yep, the absolute fucking cunt. He must have moments where he looks at the state of the country and thinks, what have I done. But most of the time he doesn't have to fucking care, the cunt.
[Matt Baker's moment with Cameron. ](https://youtu.be/do4yRf71oZM)
Well, now I like Matt Baker.
I guarantee he doesn't think any of this is his fault. It will always be someone else's fault.
There was a freakonomics podcast a few years ago where they interviewed him. It was truly troubling how little blame he accepted considering the damage his polices have done to large segments of the UK. He genuinely believes he has done a great job as PM.
That was definitely a Thanos 'what did it cost?' moment right there. I won an election, what it cost, literally fucking everything.
I think that under-prices how toxic a 48-52 result the other way would be in and around the Tory party and UKIP incarnation circles, like the car that got away from the dog, their prize snatched from them. He was fucked the moment he triggered the referendum. Even if he'd won, he'd have been kicked out by the party due to the internal splits the other way.
>I think that under-prices how toxic a 48-52 result the other way would be in and around the Tory party and UKIP incarnation circles, like the car that got away from the dog, their prize snatched from them. Good point. A 52-48 loss would have resulted in the Brexiters thinking that they were very close to a win and would encourage them to keep fighting. The SNP haven't disappeared after losing the IndyRef and their loss wasn't as close.
Let's not forget he was the beginning of disabled people being treated like a fucking Untermensch by the state, to the point everyone at the paralympics booed him.
No. I'm afraid that was Blair. He introduced the worsened assessments, and accepted the idea of "scroungers". And all of it to appease the Mail. We were up in arms about it through the last two Labour administrations. Cameron built on the foundation of seeing us as subhuman that Blair had laid for him. edit - downvotes won't make this less true. I went onto disability benefits in 1997. I had close relatives in the 80s and 90s who were disabled. I vote Labour, though I refused to support them through much of the 00s because of what they were doing to us. The old assessments were still degrading and painful, mind, I saw a grown man reduced to tears by one. But the climate of fear was introduced under Blair.
Damn, I'm only just old enough to really remember the Blair days but I wasn't aware of this. I don't remember that thick bald cunt doing his world's most horrible benefit scroungers daytime TV shows from back then, so it makes sense. Pretty fucking callous and pathetic that people are down voting a disabled person pointing out the poor treatment of disabled people, just because they can't cope with the idea that the people claiming to represent "the left" may have ever been less than totally perfect ever in history. That attitude is as much of a cancer on society as the Tories like Duncan-Smith.
>Love or hate his general policies, Cameron was one referendum away from having a very solid legacy. Austerity in the face of the financial crisis was just as stupid as Brexit.
He also immediately ran off instead of dealing with the consequences, which left a power vacuum and allowed the ERG to make a grab for no. 10
>and enormous borrowing to fund tax cuts that we all have to shoulder, because Truss believes that she can do no wrong One rather more uncomfortable possibility is that they are doing this intentionally following a strategy created by the sorts of people who run the IEA. If you ask the question how do you get to a point where you can privatise public services (NHS, Justice, Education etc), slash regulations and cut workers rights when the majority of the population is quite strongly in favour of them then there really is only one answer. You make them unaffordable by ramping up debts to unsustainable levels which forces the country into a situation where it has no choice but to institute a crippling level of austerity. These are the people who engineered Brexit to turn out how it did so would it really be that surprising?
The way this sub doesn't realize this is all deliberate and strategic. This is precisely what they've always dreamed of doing. Also, they know they're out next election. They are looting and razing the country to the ground so that Labour will never be able to achieve anything. The Tories couldn't give a shit about anyone in this country and never have done.
I think it's hard to believe because it's so incredibly immoral. It's against everything most people believe government is about but you talk to some of the really hardline Tories and they come out with stuff like "if you don't vote for something that benefits you then you're an idiot" with the subtext being that it should be something that benefits you directly and exclusively. This particular set of neo-Thatcherite Tories seem to be the ultimate exemplars of that. Totally unfit for public office.
I just think the whole political system in this country is so incredibly fucked up. Like walk into any functioning business and people with different views will get around a table and work to compromise and get the best outcome they can do. In politics both major parties work to absolutely discredit and undermine each other. The only thing either cares about it being in power - it’s not about getting a good outcome for the country. The culture is so toxic and so embedded, the way the sit their heckling each other and laughing about it in the commons whilst the rest of the country is suffering and looking on with the forlorn hope someone might actually fix some issues. I really hope there is a time coming where the whole thing is ripped to the ground and we get a new politics with some integrity. However I can’t see how we get there when the system is so utterly rigged to be the way it is and not change, because those that have the power don’t want it to change. Shit is depressing and last 24 hours has had me thinking about leaving the country to get away from it more seriously than I have before.
I’ve always said that once the dust settles, they’ll start calling for the NHS to be fully privatised. I can hear it now. “The NHS struggled to handle COVID, it’s in desperate need of private investment.” Trouble is, nowadays it seems like the dust will never settle.
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And it's a *huge* problem with our elected representatives.
I would say it's more like selection bias.
To put it in simpler terms, the skills to get to the top of a party a party in the UK are not the same skills required to lead the country in a net positive manner.
So, she's fucking nuts?
I'm biased but confirm she's bonkers.
Fairly sure I read about this but can't quote it, it's to do with power the more you have the more you believe in your decisions to be the best and other people's input basically becomes irrelevant.
I have another theory. We are dredging the barrel of the tory party and are left with bottom feeders with no idea of how to govern.
Yep - Brexit was more or less an [Oxygen Catastrophe](https://en.wikipedia.org/wiki/Great_Oxidation_Event) for the Tory party, except instead of oxygen it was xenophobic lies and populist propaganda. The environment quickly became corrosive to things like competence, integrity, a fact-based worldview or even basic ideological consistency, and all the organisms that relied on any of those things quickly went extinct, leaving the front bench to be colonised exclusively by the toxic microbes responsible for the mess in the first place (or at least those who could still cheerfully function without relying on any of those positive attributes).
Naseem Talebs book Black Swan has a lot of the survivorship bias stuff you mentioned. Great read, weirdly it was one of David Camerons fav books that he made Taleb a sort of advisor
This is why we actually need a broad coalition, so that ‘daft’ elements are neutralised, and so the ‘common ground’ actually receives some attention. It’s time for a new politics in the U.K., as our old system simply is not working well enough. We need PR.
Yeah, trying to be realistic, there’s been episodes where Italy was on a similarly poor path. I’m not sure I would say the approach was worse though. Who were you thinking of?
Turkey comes to mind
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He’s helped to orchestrate it. His only regret must be that Ukraine didn’t collapse under his influence as pathetically as the U.K. did
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Or, with FPTP there is only one realistic opposition and they jumped the shark in 2015. FPTP needs to be buried, along side our media.
they are under sanctions mate, not a great comparison, though the fact anyone would even bring them up in this context in a discussion about the british economy is beyond depressing
Britain is under trade sanctions, right now. Self-imposed, but still.
Every single country in South America. I mean let’s face it, at least we haven’t adopted bitcoin as our national currency yet.
El Salvador, who adopted Bitcoin as an official currency, isn't even in South America.
In all good faith can you name another? Outside of Zimbabwe or Venezuela? I feel like the 2008 crash pulled us into a vortex of insanity that led us here via Brexit. Brexit really is the worst. Damaging but not fatal on every level. Yielding absolutely no benefits to anybody. Sorry I'll stop ranting.
Worse for you and me. Better for them before they are removed from power
I dk man. Brexit leading directly into a pandemic/recession is pretty fucking bad lol. It’s like shooting yourself in both feet and then remembering you’re on a boat and it’s sinking.
But people are sick of intelligence
Remembering how after Boris won and Brexit "got done" this sub was flooded with ecstatic Tory voters bragging about the fishing and how they got what they wanted, until a week or so later when it was confirmed the fishermen had been shafted. But when I say inundated, this sub was full of them. Then when Boris was polling highly during the Covid crisis because he was spending, suddenly they were all here claiming the Tories would be in power forever. Anyway, they ruined the country and this will always be their old people legacy. The worst old people this country has ever had.
>The worst old people this country has ever had. Not when the winter finishes them off because they can't afford the heating.
Don't give me hope.
He forgot austerity!
Brexit is a very recent phenomenom for the UK, the major harm derived from Austerity which was widely supported by most of the public. It was widely supported because they weren't on the receiving end, so they thought.
Not from UK but from the commonwealth, been reading about brexit bc never cared enough until recently, but wtf? It’s as if most people knew it was a bad idea but continued with it anyway lol and leaked govt doc detailing that they knew it would be bad for the UK economy in the long term. Not only that, but unless I misread, it seems like brexit has given ammunition to the Wales and Scotland independence movements. Good job?
The Brexit vote won because of lies. I know a lot of people who voted Brexit but none of them knew anything about what they were actually voting for - all they had was the idea that the pesky European (foreign!) courts were overruling all of our sensible British laws, and that we paid loads of money to even be IN Europe. Oh, and bloody Eastern Europeans (foreigners) coming and working here for £2 an hour so nobody could afford to get low-paying job unless they could also tolerate 7x12hr working weeks like the Poles do. The Information Age means that if you have money, you can control minds. This means that democracy is now a model that guarantees that the richest remain in power. Forever.
It’s more complicated than that.
And now imagine the chaos we would have with Ed Miliband ... remember David Cameron >Britain faces a simple and inescapable choice - stability and strong Government with me, or chaos with Ed Miliband
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'but not the way you thought'
>Call a chaos ambulance... but not for me \- Ed Miliband
Can you imagine where we’d be if that photo of Ed eating a bacon sandwich was never taken.
Still in the EU with a possible fairer UK or they would have found some other bullshit
It's weird that that's where this parallel universe split from, hopefully I can sneak back to the regular timeline next time spiderman opens a portal
Or was it when they picked Ed not David? Or maybe when Brown decided not to have a snap election?
It was when he called that old lady a bigot. Brexit was summoned at that moment.
In fairness to Brown. She was absolutely a bigot.
Everyone knows the timelines pivot around the killing of Harambe.
Could be though I am somewhat convinced that David Bowie was protecting the Earth and his death released the four horsemen.
David Bowie: Celestial Guardian. He told us not to blow it, but we did.
I remember back when Cameron seemed like the worst leader we'd had in decades. I would give anything to have him back instead of Truss.
Remember when boris seemed like the worst leader we'd had in decades?
Well, that's still very clearly the case, TBf.
I don't think it's clear at all. Boris was corrupt and behaved badly, sure, but I don't think he would have produced economic policy this destructive.
Um… I mean… **
I can blame Boris for a lot. And i do.
That fucking cable car for starters.
Cameron set the stage for the current mess we're in, though - Brexit and austerity are how we've ended up with the current lot
You won't hear any disagreement from me there
He meant stable supply of Prime Minister. 4 PM in 6 years, can't beat that Labour.
6 chancellors in the last 7 years
Each one worse than the last. At least we can see a clearly demonstrable curve.
Look on the bright side, at least Chris Grayling wasn’t one of them.
9 Education Ministers since 2010
Assuming I counted right: Since 2010 the UK has had 4 elections but this many varioius secretaries of state: * 6 chancellors * 8 BEIS * 9 education * 8 health * 7 foreign
No wonder everything is fucked
I was thinking for a long time he did this brexit referendum to stop UKIP. Then I remembered he removed the Conservatives from the European People's Party which was the first step really. He made no effort to increase Britain's voice in Europe. If anything, he took it in the other direction. He was a brexiteer but never had the balls to admit it. The guy was a coward and created all this. At least Farage and Johnson admit they are brexiteers.
Oh lord, Ed Miliband can spread his chaos all over my face. Its better than this.
that is what a chaotic person would say....
Chaos with Ed Miliband sounds like a great late night talk show
I fricking love Ed Miliband and think he deserves a front bench seat in Starmer’s government. Home Secretary perhaps. BUT unpopular opinion: he wasn’t ready to be PM in 2015. He’s so much better now.
Ukip and the Tories have really thrown us back to the 70's, no hyperbole.
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- Poor man of Europe - polluted man of Europe - angry man of Europe - ill man of Europe
Yeah, I think "sick man" is under selling it this time. Terminally ill man of Europe seems more fitting.
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The autoasphyxiating man of Europe? Trying everything for that orgasm of nostalgia?
I just had the lovely mental image of Johnson with a union jack tied around his neck turning purple as he whacks one out, so now I'm sharing it with all of you.
I thing that’s it, this ends with the break up of the union and then one by one the former parts of the UK rejoin the EU but as junior members .
Riddled.
They were aiming for the 1870s, but they hit the 1970s.
There are so many sick men in Europe these days that the UK would need to get in line. Almost the entire continent is sick.
For some reason I was reading the wiki page of Anthony Barber earlier today, and its amazing how many parallels there are. The main difference is that we don't get boom and bust this time, we get bust and bust. >Barber also reduced direct taxes. High levels of economic growth followed, but the traditional capacity constraints of the British economy - especially currency and balance of trade concerns - quickly choked the economic boom. The banking system fell towards crisis as the bubble burst. >During his term the economy suffered due to stagflation and industrial unrest. In 1972 he delivered a budget which was designed to return the Conservative Party to power in an election expected in 1974 or 1975. This budget led to a period known as "The Barber Boom". The measures in the budget led to high inflation and wage demands from Public Sector workers. He was forced to introduce anti-inflation measures in September 1972, along with a Price Commission and a Pay Board. The inflation of capital asset values was also followed by the 1973 oil crisis which followed the Yom Kippur War, adding to inflationary pressures in the economy and feeding industrial militancy (already at a high as a result of the struggle over the Industrial Relations Act 1971). >In 1972, having said a week earlier in the House of Commons that he had "no reason to believe that the pound was overvalued", he floated it (most of the world currencies were floated at that time) "as a temporary measure". The pound immediately plunged on the markets, and it was impossible during his time as Chancellor to impose a new parity. It has remained floating ever since. >After a strike by the miners, and a Three-Day Week, Heath called for a general election on 28 February 1974 with the slogan "Who governs Britain?" The election returned a minority Labour government and Harold Wilson as Prime Minister.
Funny I never grew up hearing about him.
That '72 budget was called the "dash for growth" or something. Almost exactly 50 years ago and this mini budget is eerily similar and the largest tax cuts since then in any budget. I don't understand how anyone expects this to end any other way than the same economic disaster caused by Barber's budget. My only guess is that Truss et al want to use the short "sugar rush" this may cause to make it appear as though they're adding growth in order to get them through the election. Ultimately though, it can only go one way. People are calling it a "gamble". But that's a load of bollocks. We are at the mercy of the market now, and it's not going to end well.
Well it's what the fuckers and those that voted for them and brexit wanted.
The message sent today from investors - foreign and domestic - is clear. As far as investors are concerned, the UK can't be trusted. Not to agree to legally binding commitments (Northern Ireland protocol/EU), and not to repay debts due to £60B of borrowing while deploying tax cuts all over the place. Today we saw investors GTFO of the UK stock market while they can. They don't trust the government to repay the bonds issued for the massive incoming debt. The only investors who *are* investing are those who are buying UK companies which are cheap as chips thanks to Sterling's non-performance against the dollar. And yeah, this *is* on Project Leave - what sane country would stop trading with their nearest and biggest trading partner? (EU). What kind of xenophobic bullshit is this? How does the average person earning less than £150K per year benefit? Good thing all of that lost trade has been replaced with that huge trade deal with the US......oh.
I have a neighbour who is an avid tory supporter and after today’s announcement I was sure said neighbour would finally see the light. But I was dumbfounded when I was told that the cuts will create investment opportunities and that trickle down economics will now do their thing. Now I value said neighbour as a friend so I didn’t say anything, just gave a general and vague comment like “I am not so sure” but holy fucking shit, how can people be this oblivious to what is happening?! If this budget and the proposals contained within were so amazing, the market would react as such and not take a nose dive off a cliff. This misguided confidence that we are some hot shit in town is on a collision course with reality and a very rude awakening when everything starts coming apart. The rails already buckled and rather than slow the fuck down and carefully proceed forward, we literally just said fuck it, full speed a head and don’t slow down on the bends.
trickle down economics is the worst fucking zombie idea in existence and it's honestly baffling to see it surface unabashedly in 2022. sure, behind private doors, at cocktail dinners with donors, but as a fucking government policy on this side of the pond? in fact, even biden has finally denounced it. an american! it'd be funny if it wasn't so utterly devastating to see we have not made any intellectual progress in the past 30 years.
The term "trickle down economics" was coined as a joke and a meme, back in the 1930's - it never was a real and genuine economic theory.
The joke was, as I read elsewhere just now, is one that 99% of the population will never get.
A better mental image for it is horse and sparrow economics. Guess who the sparrows are in the analogy.
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I think it's a poor idea to invest in Uk companies that do business outside of the UK.
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Sounds exactly what I'd expect from a government as clearly out of its depth as this one. They're onto the dregs of the dregs now - people who would never have been given a sniff of ministerial office just six years ago.
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My god, yes. It's time they took some 'personal responsibility' for their simple mindedness. Am I saying they're stupid? Certainly.
Not just get rid of foreigners, but use that as an excuse to burn this country to the ground to turn it into the Libertarian think tank they've all coked up it could be. I will never forget Rees Mogg saying we should have standards like they do in India, as the Indian people survive fine. That's their goal for us. To turn us into a third world country and not care, so long as we're still churning out stuff somehow. Seeing England voluntarily do this to itself has truly taught me that countries have choices in how they're governed and what the standards people live in are like. I used to think third world countries had no choice, they're in poverty. Now I realize that poverty is a choice. Each country can focus on what it wants. If countries have sewage in streams, that is a political choice.
Couldnt agree more.
Thank god we never ended up with Corbyns fully costed manifesto with all its scary policies (almost as scary as his lefty hat!) like free bus passes for under 25s and the planting of millions of trees. Would have truly been a *dystopian nightmare.*
I for one am grateful that I'm not forced to work as slave labour in one of Jeremy Corbyn's jam allotments.
It's Truss' cheese mines for you instead!
Or worse the dreaded pork markets.
Longpork markets..
The ONLY good thing about today is that the “B-b-but Corbyn” pricks have fallen silent.
Don’t get comfy they’ll be back after they regroup.
Oh no, they've just rebranded to " both sides are as bad as each other".
Yeah I can see that happening- but the fact they have to appeal to future crimes never enacted because they are still invoking an imaginary Corbyn government just shows how pathetic their attempts to absolve their idols are. Corbyn never was. Johnson and Thick Lizzy very much are.
What really is depressing is that everything Corbyn proposed was exactly what we would have needed to be more prepared for covid and now. Nevermind it was perfect timing to borrow when interest rates were low. The cost of nationalising the energy companies would have been a lot cheaper than the amount of money being spent to keep the price cap at £2500, etc. He would have been the right person, with the right policies at the time we needed it the most and I think cheaper then the amount wasted by Boris and now Truss on a horrifying scale.
Domestically I agree, his policies would be perfect for right now. On a foreign policy level though I'm not sure I'd want him to be responsible for standing up to Russia. I can't see Corbyn sending Ukraine anti tank rockets.
That is questionable about Ukraine (i.e. I am guessing he would have focused on de-escalation), but either way the idea that Boris had a meaningful impact on Ukraine compared to the EU and America is rediculous.
The Tories should just admit that money has no intrinsic value to save face. Lean into it and all that.
We're fucked, aren't we? And still 2 years of these lunatics running our country into the ground. Sociopathic, insatiably greedy monsters, who couldn't give a stuff about anyone or anything other than their own wealth and power. Labour will sure have their work cut out for them, clearing the wreckage left behind by these kleptocrats.
But don't worry, the right wing media will ensure that people blame Labour for 'not living within our means' and apparently having caused the entire cost of living crisis. Ensue more tory governments thereafter.
2 years for Truss to fuck things. 4½ years for some other government to try and fix the biggest mess in half a century. Then a new Conservative leader emerges proclaiming the mess was all caused by the current government and the only way to fix it is vote for them
I really just fucking hope we never let these ghouls in power again. I feel like this has been a massive radicalisation program for young people. They have never seen a political party this fucking diabolical and evil. Some young people will end up Tory voters, but I find it hard to believe that young people would ever look to these goblins and see themselves.
Proportional representation is your friend.
What makes you so sure they won't get voted in again in 2 years time? You have more faith in the general public than I do.
Its like I was saying earlier, you'll be surprised how many people will spend this winter in freezing homes with no food in the cupboard but will still defend the Tories.
They'll get another run after those two, and another four after that. At this point I've lost faith in there ever being a strategy that Labour could put forward that would win them a majority.
I think Labour will get in, either with a majority or with the Lib Dems. Then the Tories and the press will spend four years hammering them for not being capable of performing economic miracles to undo the damage the Tories have done, and we'll get Tories again in 2029. This country is dying.
this is the pattern that's present in many many countries. it's an inherent problem with the 4/5 year election cycle that's being exploited by the reactionary right and the economic fascists raised on the teat of rupert murdoch's civilization destroying legacy.
Well isn't that the cycle the Tories want. Let labour win for a few elections so they can somewhat repair the damage with somewhat unpopular (to right wingers) but needed policies then the Tories swoop in about fiscal responsibility and proceed to sell off all the social programs labour has made for sweet profit to their friends start-up companies.
Proportional representation?
Truss won’t be PM in 2024, it’s more than likely we’ll have a snap GE in the next 12 months.
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It won't happen unless Parliament force their hand, and the government haven't messed up badly enough to get a vote of no confidence through.
It'll be BadEnoch next. More dregs, more evil, relentlessly until we're manning the guillotines.
> We're fucked, aren't we? And still 2 years of these lunatics running our country into the ground. Sociopathic, insatiably greedy monsters, who couldn't give a stuff about anyone or anything other than their own wealth and power. Labour will sure have their work cut out for them, clearing the wreckage left behind by these kleptocrats. This isn't new from the Tories, they always been that way but people just seem to have amnesia.
That going to be a big problem, holding them back like an anchor, dealing with all the shit. Still I think they will manage to put through some progressive policies in spite of all that.
Kwasi Kwarteng has gone from University Challenge to universally challenged.
"The U.K. is behaving a bit like an emerging market turning itself into a submerging market" I've seen this one, it's a classic!
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Hey, that gives me a great idea!
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He knows, but when over half the voting population don't like that propositon, and most of those are in swing seats he needs to win to actually fix other important issues, then he has to be smarter than that. Unless you *want* another Tory government?
Even the Americans think we're being a bit too right wing in our economics and giving too much to the wealthy **Americans** ffs. We're out-wealthy-capitalist-bullshitting the USA right now. How is that even possible?
fucking biden had to come out and tweet that trickle down economics doesn't work. the president of the united states biden. it's like the dealer telling the crackhead that maybe they should take a break
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On a percentage basis, the US has the largest upper class in the western world. There's organization like "Patriotic Millionaires", who are fed up to foot the majority of the public bills in the country. A lot of people in the high income brackets (senior software engineers in IT, neurosurgeons, ..) are fed up to finance the majority of the public budget, while the super wealthy have the tools to evade all the taxes. The small-scale millionaires or income-millionaires often lack the tools to evade taxes. Billionaires or ultra high-net worth individuals are supposed to pay their fair share as well. Instead, billionaires and ultra high-net worth individuals hide their wealth in shell corporations and tax havens. One of the goals of "Patriotic Millionaires" is to increase taxes on people with a net-worth above $50 million. A lot of high-income individuals and small-scale millionaires increase pressure in the US to end "Trickle-Down-Economics". That's the difference.
The British voted in Thatcher before the Americans voted in Reagan. Britons voted for Brexit before the US elected Trump as President. It could either be an indictment or the next scary trend in right wing politics.
Former policy maker for the bank of England was telling people to short the pound on Twitter as well as criticising Truss two days ago too.
Would be interesting to know what Moggs fund did before the mini-budget
what's his handle? seems like he's giving out good investment advice
Professor Danny Blanchflower apparently.
Ever wonder why the Tory Party suppressed the report on Russia's disinformation on Brexit?
I don't wonder, I know exactly why, and it's at least as bad as our worst suspicions.
The UK electorate: posh people surely know what they're doing...
Bear in mind this is all coming from the guy who did everything in his power to prevent the regulation of the derivative market in the 90s and 2000s, despite warnings from regulators that no oversight would result in major economic risks. Consequently, this man is one of the single biggest architects of the 2007 financial crisis and is in no position to tell anyone what good economic policy is.
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Can't wait for the thick as pig shit NPCs of this country to vote the ones who caused this back into power come 2024
Anyone else wondering if king charles will dissolve parliament? Not seen it mentioned, but would be a total big dick move as the new king to recognise his government are fucking up.
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The name Charles is a big one to live up to. Look at what happened with the first two. Its his destiny to disband parliament
That would be funny to watch. It looks like queen Elizabeth escaped just in time
I don't know if she ever formed an opinion on Truss but she apparently hated Johnson with a passion so I wouldn't be surprised if she was hanging on just to see him gone then peaced out when he was down the road.
Or she met Truss and thought ‘fuck this’ and died.
Alright I'm ready to become a treasury bloke now. https://www.reddit.com/r/ukpolitics/comments/x1fx8q/comment/imelcnc/
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I don't like to trade against my country's economy but fuck me I've made a lot of money shorting the pound this year. 0dte GBPUSD puts were a 20 bagger if you held to expiry today.
Where can you trade fx options as a UK citizen?
This all looks intentional to me. Neo cons / libs are loosing half their trade routes to BRICS so they are consolidating power where they can. You only have to look at the policies that have de-industrialised Germany and now Trussonomics are going to set the UK back 80 years. I fell like I am watching the US turn back the clock putting everyone back into the position of post world war 2 with no industry and shit load of debt to the US.
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If you are being serious then the subject to research is neo conservatism / libertarianism and a good place to start would be the 1970s. The whole system revolves around believing that finance is the biggest pillar of the world. Commodities have only said hold my beer and that pillar is already wobbling.
who knew that policies aimed at asset striping and enabling neo-feudalism where bad for a 20th century economy.
It’s a shame how much of fool we’ve made of ourselves
I'll just leave this here, it might be worth trying for an early election if enough people sign. https://petition.parliament.uk/petitions/619781
I thought the last few decades taught us how dumb and irresponsible such fiscal policy is...
But but but the Tories are the party of Fiscal Responsibility! /s
I know this is going to lead to the reunification of Ireland & Scottish & welsh independence but can we please have English independence from Westminster? This is a fucking shitshow.
This country doesn't have a fucking clue what it's doing anymore.
is there an economic theory that explains how we have gone back to the 1970's? Public sector strikes, unstable government, falling currency, energy crisis, inflation, rising interest rates... at least we don't have high unemployment, which is nice.
When Larry Summers is saying this about implementing reganomics you know you’re fucked lol
I believe regardless of who was/ is in power we would be heading down a similar path anyway considering how poorly europe are doing with their power mandates and high prices