[Politics] Liz Truss **RESIGNS 20/10/2022**

[Audax]

Well, she didn't drop any clangers.

GBP value has dropped steadily throughout the day, though. Having peaked at a tad over $1.148 prior to her speech, it bottomed out (hopefully)a little over half an hour ago at $1.124. Currently at $1.127.

Similarly, no sharp movements in 10yr gilt yields - but they have drifted higher through the day to now be consistently above 4% and did peak at 4.1% briefly. They started the day at 3.9%.

So all up ... I think financial markets have a) heaved a sigh of (temporary?) relief and not seen anything worth panicking about, but b) in not seeing anything worth panicking about have nevertheless submitted a vote of "that's not the speech we wanted".

 

[Greg Bobkin]

It’s very interesting seeing how these two women are dealt with. Initially, male Tory hands everywhere trying to rip the banner from their hands. Next, the security guard seems to take a grab at one of the women’s chest.

Finally, they have their lanyards ripped off their necks by yet another male as the Tories all boo them (pantomime style) then Liz Truss triumphantly outs them as members of this sinister new Anti-Growth-Coalition organisation that exists exclusively in her head.

The amount of male hands all over those two petit women tells a story itself.

I'm sure the yanker in that last pic was one of the people BBC news 'interviewed' to when it was getting reactions to the speech from people exiting the hall... Even if it wasn't him, whoever it was seemed to love what Truss had to say. Easily pleased, I guess

 

[vegster]

They gave her a standing ovation for over a minute before she'd even opened her mouth! Is that normal?

It delayed her from starting her speech so, worthwhile.

 

[A1X]

“Your name will also go on the anti-growth coalition…”

 

[Since1982]

It’s a sign of how far the competence of the Tory party has sunk that it’s considered a cause for celebration that their leader can make a speech and the pound doesn’t crash, the gilts market don’t go haywire and our pension funds don’t lose even more value.

 

[ozzygull]

What I don't understand is why she has put herself in this position, she is completely out of her depth, as was Boris Johnson before her. They seem to be either too arrogant or too stupid to realise this.

I am in no way saying that I am clever, but I am clever enough to know that I would also be out of my depth.

 

[Since1982]

What I don't understand is why she has put herself in this position, she is completely out of her depth, as was Boris Johnson before her. They seem to be either too arrogant or too stupid to realise this.

I am in no way saying that I am clever, but I am clever enough to know that I would also be out of my depth.

Power.

 

[Harry Wilson's tackle]

The bad news Truss is the worst PM ever and this country will suffer for 2 years

Great news the tories will never recover from this and we never will have to put up with those see you next Tuesdays in power again this will be for the tories the same as the liberals after WW1

If only. That would be a result. However, even as a Labour member, I'd forego a Labour win for a competent (tory) PM now. She is at risk of causing so much damage that I fear for the poor sods taking the brunt of it.

 

[Hugo Rune]

“Your name will also go on the anti-growth coalition…”

View attachment 152487

This was her Greenpeace face before she managed to replace it with her now famous false and disingenuous smile.

 

[Harry Wilson's tackle]

, , ,

 

[drew]

If only. That would be a result. However, even as a Labour member, I'd forego a Labour win for a competent (tory) PM now. She is at risk of causing so much damage that I fear for the poor sods taking the brunt of it.

Ideal scenario will be Labour landslide and the Libdems picking up enough seats to put the tories down in third so they don't even get to be the official opposition!!! We can but dream.

 

[sparkie]

Odd to hang your reputation on whether you achieve growth, growth, growth when we are about to go into a recession and by definition negative growth.

An open goal. She's a fool.

 

[spence]

Wonderful speech. Thats more like it Hopefully it isn't just talk though,

 

[nicko31]

Wonderful speech. Thats more like it Hopefully it isn't just talk though,

The war on podcasts has began

 

[Motogull]

My instinct is that Farage hides inner rage, he’d loved to have punched Al Murray.

Al wouldn't have noticed if that weedy kunnt had put one on him.

 

[Guinness Boy]

Wonderful speech. Thats more like it Hopefully it isn't just talk though,

I'll take your months long absence after incorrectly predicting the US red wave as proof that you're not a WUM and just a bit of an idiot who actually believes this stuff. Here's a real journalist, Chris Mason, on broadly the same thing.

https://www.bbc.co.uk/news/uk-politics-63148432

"There was the content of the prime minister's speech. And then the context of its delivery.

And context is everything. This is a party that has been close to ripping itself to shreds in the last few days.

....

A crushing, humiliating, authority sapping U-turn that left the prime minister weakened and vulnerable.

But there is a growing fear among some Truss supporters that there is a doom-laden fatalism among too many Conservative MPs, an assumption defeat at the next election is close to inevitable.

"They say it'd be good for us to have a stint in opposition! It drives me mad," one said.

.....

The speech itself was short and had no new policy ideas. A case of once bitten, twice shy, methinks.



Bloody MSM. No wonder the Tories want to get rid of the beeb.

 

[Machiavelli]

Odd to hang your reputation on whether you achieve growth, growth, growth when we are about to go into a recession and by definition negative growth.

An open goal. She's a fool.

Don't know why more people aren't mentioning this. Although not officially in one, the chances are that we are currently in a recession. Not entirely convinced that growth will be as easy to achieve now they've driven mortgage rates up to 6% either, and that's on top of everything else.
They're leaving themselves open to having their motto thrown back at themselves. And that's quite apart from Labour actually comparing the growth rates they achieved in their 13 years with the Tories' subsequent 12 years.

 

[Guinness Boy]

Don't know why more people aren't mentioning this. Although not officially in one, the chances are that we are currently in a recession. Not entirely convinced that growth will be as easy to achieve now they've driven mortgage rates up to 6% either, and that's on top of everything else.
They're leaving themselves open to having their motto thrown back at themselves. And that's quite apart from Labour actually comparing the growth rates they achieved in their 13 years with the Tories' subsequent 12 years.

I respectfully disagree.

These are people who wouldn't know the truth if it dressed in a giant truth suit and forced a truth serum up their perfectly bleached bumholes. They will achieve "growth" because we are in negative growth. If we are slightly less in negative growth by 2024, and let's hope for the health and lives of the poor that we are, they will take the bad number from the even worse number and claim they achieved X percent growth. Growth. Growth.

 

[beorhthelm]

Odd to hang your reputation on whether you achieve growth, growth, growth when we are about to go into a recession and by definition negative growth.

An open goal. She's a fool.

there is a right curve idea that, knowing we're going into recession, its about how it looks on the other side. economics is being driven by global events that UK Chancellor doesnt have control over. in 6-12 months with Fed unwinding rates, China back to normal production, some sort of settlement in Ukraine, we come out of recession anyway and theres a general good growth. man at no11 can say everything done has brought about this, the tabloid readers and writers too wont know otherwise. of course Truss probably wont get any of this, but will go along with the simple messaging.

 

[Bob!]

Ideal scenario will be Labour landslide and the Libdems picking up enough seats to put the tories down in third so they don't even get to be the official opposition!!! We can but dream.

Ideal scenario is that the Tories get so few seats, that the SNP's 50 odd seats are enough for them to be the official opposition!