UK IX: This Economy Will Self-Destruct In...

[fallenangle]

There was nothing "deluded" about what I said earlier - its what happened in the late 1970s and early '80s. I was there.

As for spendthrift Labour being a thing of the past tell that to the people who live in the same London borough I do and have been under a Labour led council for as long as I can remember. They have been bleating about a £82m shortfall in funding for years, of course blamed on the wicked Tory central government. Yet their spending on unnecessary, badly managed or failed building and other local projects is a matter of fact.

Don't get me wrong, I could not stand BJ and as for Liz Truss - another female nonentity who, at the moment, looks like Teresa May v2.0, promoted to an office far beyond her capabilities. She appears totally out of her depth in the face of the current crisis. Unless she somehow starts to show signs of being able to turn this around with astounding skill I could not and will not vote for a party with her in charge.

But Labour? Unelectable only a few months ago and now they're going to ride in on a horse of sand (Genesis reference) and solve the financial crisis. Yeah right.

[Neon Ignition]

The thing about May though is that she was a bland but fairly competent choice, it's laughable that she was felled due to a vote over an ultimately automated outcome that Boris didn't actually ever resolve either.

If I were a Tory MP, after the last week, and was listening to these interviews today I'd be absolutely mortified about the prospect of Truss on the campaign trail. If I were the Tories I'd ditch her and steer toward Mordaunt out of the last ones to run... if I were Mordaunt I'd decline and stay back as being in charge after this is a career death sentence.

https://www.theguardian.com/business/live/2022/sep/29/pound-slides-former-boe-chief-carney-accuses-government-undercutting-bank-business-live?page=with:block-633544e88f08ef7e8107c71d#block-633544e88f08ef7e8107c71d

Housing and Retail sectors enter freefall

https://www.theguardian.com/business/live/2022/sep/29/pound-slides-former-boe-chief-carney-accuses-government-undercutting-bank-business-live?page=with:block-633545db8f08ef7e8107c728#block-633545db8f08ef7e8107c728

Bond yields are back on the increase

https://www.theguardian.com/business/live/2022/sep/29/pound-slides-former-boe-chief-carney-accuses-government-undercutting-bank-business-live?page=with:block-63357bd18f084e56bac58033#block-63357bd18f084e56bac58033

40% of all mortgage products have now been withdrawn from the market

Truss says she has ‘right plan’ on economy and will not change course | Economic policy | The Guardian
Truss outright refuses to consider changing her plans

https://www.theguardian.com/politics/live/2022/sep/29/liz-truss-kwasi-kwarteng-mini-budget-sterling-crisis-economy-conservatives-uk-politics-live-updates?page=with:block-633572ca8f08ef7e8107c90d#block-633572ca8f08ef7e8107c90d

Treasury appears to be holding fast that they won't release their fiscal plan for two months leaving the markets to continue their descent

[Asura]

I have a cousin who attended Oxford at the same time as Truss, and was also in the Oxford student LibDems with her. She’s a sociopath and quickly made enemies due to her personality, apparently.

Eeeh, not defending her but I don't think I've ever met a politician that isn't like this. They're all power-hungry, and need some degree of ability to shut out the dissatisfaction of others. I suspect the venn diagram of sociopaths to politicians is a near-circle.

[Neon Ignition]

Queen Elizabeth died of ‘old age’, death certificate says | Queen Elizabeth II | The Guardian
Liz officially died of old age



I imagine it was more like this:



"Ah, fellow Liz, congratulations on your new appointment. So, tell me, what are your plans for my great nation?"




48 HOURS LATER

[Nu-Eclipse]

There was nothing "deluded" about what I said earlier - its what happened in the late 1970s and early '80s. I was there.

As for spendthrift Labour being a thing of the past tell that to the people who live in the same London borough I do and have been under a Labour led council for as long as I can remember. They have been bleating about a £82m shortfall in funding for years, of course blamed on the wicked Tory central government. Yet their spending on unnecessary, badly managed or failed building and other local projects is a matter of fact.

Don't get me wrong, I could not stand BJ and as for Liz Truss - another female nonentity who, at the moment, looks like Teresa May v2.0, promoted to an office far beyond her capabilities. She appears totally out of her depth in the face of the current crisis. Unless she somehow starts to show signs of being able to turn this around with astounding skill I could not and will not vote for a party with her in charge.

But Labour? Unelectable only a few months ago and now they're going to ride in on a horse of sand (Genesis reference) and solve the financial crisis. Yeah right.

You've literally tried to paint the Tories as more fiscally competent like as if THE LAST TWELVE YEARS OF THEM LITERALLY BEING IN CHARGE doesn't show otherwise.

Definitely deluded.

[Cassius_Smoke]

'She appears totally out of her depth in the face of the current crisis.'
THAT SHE ****ING CAUSED!
It's not just some wacky thing that happened, it's a icing on a 12 year cake of ****!

[Lebowski]

When the Tory Conference starts in Brum soon, I'm really motivated to go along and just, I dunno, just bloody boo at the lot of 'em.

i Wouldn't go anywhere near it with so much concentrated evil in one place it rips open a portal to hell and causes a yearly battle to be waged between the forces of Heaven and Hell, one that gets harder and harder to keep contained each year.

in the first age In the first battle When the shadows first lengthened One stood, He chose the path of perpetual torment. In his ravenous hatred he found no peace And with boiling blood he scoured the umbral plains of Birmingham convention center Seeking vengeance against the dark lords who had wronged him, and those who tasted the bite of his sword named him the doomslayer

Over the last ten years we've seen a number of these arch demons fighting over the rule of the UK, Decaying Carrion Defiler of Pigs, and, Terorr Maye, Bringer of famine where both defeated by the doom slayer, replaced by the gaseous Borborygmus the joyless who was also thought beaten, we where deceived though, his bidding's are being done by whispers passed to his servant Liesser the Trussting a lower daemon of limited intelligence.

[prinnysquad]

https://www.taxresearch.org.uk/Blog/2021/06/24/the-tories-have-always-borrowed-more-than-labour-and-always-repaid-less-they-are-the-party-of-big-deficit-spending/

https://www.thelondoneconomic.com/business-economics/economics/debunking-the-myth-that-tories-are-better-than-labour-with-the-economy-167680/amp/

https://www.independent.co.uk/voices/comment/the-myth-excessive-government-borrowing-got-us-into-this-mess-8601390.html?amp

https://www.economicshelp.org/blog/5509/economics/government-spending-under-labour/

https://theconversation.com/amp/labour-are-much-better-at-running-the-economy-than-voters-think-new-research-162368

[Golgo]

i Wouldn't go anywhere near it with so much concentrated evil in one place it rips open a portal to hell and causes a yearly battle to be waged between the forces of Heaven and Hell, one that gets harder and harder to keep contained each year.



Over the last ten years we've seen a number of these arch demons fighting over the rule of the UK, Decaying Carrion Defiler of Pigs, and, Terorr Maye, Bringer of famine where both defeated by the doom slayer, replaced by the gaseous Borborygmus the joyless who was also thought beaten, we where deceived though, his bidding's are being done by whispers passed to his servant Liesser the Trussting a lower daemon of limited intelligence.

That reads like a mod for Diablo 3 that I'd like to play. Would be a grin hunting them down.

[prinnysquad]

There was nothing "deluded" about what I said earlier - its what happened in the late 1970s and early '80s. I was there.

As for spendthrift Labour being a thing of the past tell that to the people who live in the same London borough I do and have been under a Labour led council for as long as I can remember. They have been bleating about a £82m shortfall in funding for years, of course blamed on the wicked Tory central government. Yet their spending on unnecessary, badly managed or failed building and other local projects is a matter of fact.

Don't get me wrong, I could not stand BJ and as for Liz Truss - another female nonentity who, at the moment, looks like Teresa May v2.0, promoted to an office far beyond her capabilities. She appears totally out of her depth in the face of the current crisis. Unless she somehow starts to show signs of being able to turn this around with astounding skill I could not and will not vote for a party with her in charge.

But Labour? Unelectable only a few months ago and now they're going to ride in on a horse of sand (Genesis reference) and solve the financial crisis. Yeah right.

What’s your solution? Slagging off the Labour of the 70s as a reason not to trust them to do better than this shower of chod doesn’t really seem very relevant. That was 50 years ago.

[Neon Ignition]

Embedded Tweet

[wakka]

In his ravenous hatred he found no peace And with boiling blood he scoured the umbral plains of Birmingham convention center

[charlesr]

Earlier I heard someone I know describe Liz Truss as a “lefty LibDem”. FFS!

She's actually a Lib undercover plant, with the aim of destroying the tory party from within.

[fishbowlhead]

i Wouldn't go anywhere near it with so much concentrated evil in one place it rips open a portal to hell and causes a yearly battle to be waged between the forces of Heaven and Hell, one that gets harder and harder to keep contained each year.



Over the last ten years we've seen a number of these arch demons fighting over the rule of the UK, Decaying Carrion Defiler of Pigs, and, Terorr Maye, Bringer of famine where both defeated by the doom slayer, replaced by the gaseous Borborygmus the joyless who was also thought beaten, we where deceived though, his bidding's are being done by whispers passed to his servant Liesser the Trussting a lower daemon of limited intelligence.

Im not sure it was worth the economy crashing for that post to become a reality, but im not saying it wasn’t either.

Brilliant sir, slow claps.

[fallenangle]

What’s your solution? Slagging off the Labour of the 70s as a reason not to trust them to do better than this shower of chod doesn’t really seem very relevant. That was 50 years ago.

As I said in the earlier post yesterday I have no idea what the solution is.

What I am talking about is repeating patterns over the last 50+years. People here seem to be forgetting the years of austerity which started in 2009/10 as a response to the last global financial crisis which occurred when the Labour government was under ex-chancellor of the exchequer Gordon Brown.

Promoted to PM by the Labour party he had no quick solution to the financial crisis, lost the audience and consequently Labour lost the next general election. A Conservative lead/Lib-Dem coalition ushered in the age of austerity which aimed to reduce the national debt Labour's borrowing policies/recession had built up.

That austerity period only officially ended in 2019 and the next year Covid hit forcing the government, now Conservative with a large majority, to spend huge sums of money and racking up vast debts just trying to keep the economy afloat.

Now, some here, want to vote Labour to be in charge again conveniently forgetting that the last time they were in that position, only 12 years ago, with an ex-CotE leading them, that without the Tory fat created under John Major as both CotE and PM, frittered away by Blair on things like the small matter of an illegal war in Iraq, they couldn't magically fix the effects of the recession. They were voted out office and that's where we are now.

You don't see the repeated cycles in all this?

If Labour are voted in we're almost certainly doomed to repeat that cycle and the vulnerable of another generation left in poverty. Eventually the money they will spend conspicuously to try to fix those inequalities will run out and they'll borrow, put the country into unsustainable debt and eventually be voted out.

The Conservatives will have to deal with that and take the brickbats when the only solution, belt tightening, starts to hurt.....and it will.

Plus sa change.