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

[CheeseRolls]

She is so obviously out of her depth, I can see a situation, where she is unable to carry on, due to health concerns.
The fact she has disappeared for 4 days and then comes out seemingly completely unprepared for entry level questions, must be alarming for her aides and supporters.

She will have been focussed on preparing for next week's party conference. Just to manage expectations here, I don't anticipate this will be reflected in the quality of the speeches, but I am sure she will have paid more attention to her wardrobe than her predecessor, Jog on Johnson in his white shirt and work shoes.

 

[Audax]

How on earth did the conservative party think liz Truss was Pm material.

The MPs didn't (and, from what we're hearing, still don't). Let's not confuse the fee-paying members of the party with the parliamentary party. The former were swayed by promises of tax cuts while blissfully unaware of what might happen as a result. The latter, the majority backed Sunak.

 

[beorhthelm]

Is it a debt? They have created that money, not borrowed it from somewhere else. Presumably, once things settle down and over time, they will sell those gilts back into the market and take the money back out of the money supply?

they applied QE, which is frustrating as they were (still are officially) going to start unwinding that next month.

 

[Pevenseagull]

Thanks to the Beeb, the entire round of local interviews in a single, hour-long clip...

https://www.bbc.co.uk/sounds/play/p0d3flmh


"Liz Truss has finally broken her long painful silence with a series of short painful silences." - Angela Rayner

The welcome return of 'Down The Line' to BBC radio.

 

[rogersix]

Probably worth saying that the dollar rate is back up to $1.09, it was $1.08 pre the mini budget.

is that worth £65B in the present economic climate?

 

[beorhthelm]

the new thing to try is socialism

been tried. doesnt work out so well, ask Russia or Venezuela. China is having a good go at it though, now they merged with market dynamics.

 

[Audax]

Is it a debt? They have created that money, not borrowed it from somewhere else. Presumably, once things settle down and over time, they will sell those gilts back into the market and take the money back out of the money supply?

Yes, it's a debt. The "created" money has been guaranteed by the government. So basically, when the BoE thinks it's safe to begin selling the gilts they are currently buying, it's highly likely they'll be selling them at a loss. The government has promised to cover the difference. Taxpayers will, eventually, be the ones carrying a significant % of the cost of the BoE intervention that the government precipitated with the fiscal event.

 

[rippleman]

https://www.channel4.com/programmes/make-me-prime-minister

I'm not sure any of them could possibly be as bad as Truss. I have heard more eloquent daleks. "Daggers" is right; she is totally batshit crazy.

(Jackie Weaver is one of the candidates on MMPM and she is always good value)

 

[sparkie]

forgive my ignorance tb, TPA?

Tax Payers Alliance

The ones that look out for billionaire tax payers, of course.

The rest of us normal taxpayers can be shafted for all they care.

 

[Swansman]

been tried. doesnt work out so well, ask Russia or Venezuela. China is having a good go at it though, now they merged with market dynamics.

Nothing wrong with socialism. Just not possible to do when every neo-liberal country in the world actively tries to destroy any form av politics where the people are more important then the business.

 

[Thunder Bolt]

I can get behind opening the idea for a different approach, however what I fail to understand is how they didn’t have the foresight that there would be issues with confidence without the validation and costings?

Can someone please explain / justify this significant oversight? Is there more to this than general incompetence?

See my post 1346 referring to the book written by the PM and Chancellor in 2012. This was planned. Disaster Capitalism.

 

[rogersix]

You're right I mis-read the closing dollar rate as the opening. $1.13 pre mini budget. But it has recovered from $1.03 to $1.09. Still some distance to go, but the pound has been sliding against the dollar for a very long time. It was at $1.35 a year ago. There are many many reasons for this that do not relate to very recent economic change.

the pound was on the slide with bungle at the helm?

 

[Nobby Cybergoat]

The MPs didn't (and, from what we're hearing, still don't). Let's not confuse the fee-paying members of the party with the parliamentary party. The former were swayed by promises of tax cuts while blissfully unaware of what might happen as a result. The latter, the majority backed Sunak.

The MP's backed her to the final two, where they were 99% sure she would beat Sunak.

If you're suggesting that they have no complicity in this, then I disagree.

 

[Machiavelli]

The welcome return of 'Down The Line' to BBC radio.

Down the Line was one of the best R4 comedy programme in decades. Not so sure why there weren't more of them, given the current standard of 6.30 slots.

 

[Westdene Seagull]

A simple way of reducing inflation.

We also as a nation need to stop wanting all things all the time and get back to seasonal variances in our food, those produced here. Bring back Buy British Products where the suppliers are given help through tax breaks.

Food waste in this country is down to many factors but a large one is over production. There's far too much choice as everyone demands everything grown worldwide to be available in our local supermarkets. We need to stop importing all this luxury stuff and get back to basics. Yes we need to import produce that is a staple in our food but do we really need exotic fruits from Africa?

You must have a very boring diet if you stick to seasonal British food.

 

[Machiavelli]

See my post 1346 referring to the book written by the PM and Chancellor in 2012. This was planned. Disaster Capitalism.

Disagree. There's no way they were expecting this to pan out the way it has. They're in the Conservative Party too, the longest-lasting -- and along with the GOP -- most effective, and most powerful electoral force across the globe.
They're ideologues. They actually believe this. They aren't trying to scorch our earth -- even if that is the outcome. They think it will lead to sunny uplands.
It'll be interesting to see what those in the party do, here's one response from one former MP:

https://www.theguardian.com/commentisfree/2022/sep/29/tory-mp-truss-kwarteng-labour

 

[Titanic]

The MPs didn't (and, from what we're hearing, still don't). Let's not confuse the fee-paying members of the party with the parliamentary party. The former were swayed by promises of tax cuts while blissfully unaware of what might happen as a result. The latter, the majority backed Sunak.

The MPs failed to make a clear choice. More fool them. 38% backed Sunak.

Sunak 137, Truss 113, Mordaunt 105.

 

[PILTDOWN MAN]

You must have a very boring diet if you stick to seasonal British food.

January
Apples, Beetroot, Brussels Sprouts, Carrots, Celeriac, Celery, Chicory, Jerusalem Artichokes, Kale, Leeks, Mushrooms, Onions, Parsnips, Pears, Red Cabbage, Salsify, Savoy Cabbage, Spring Greens, Spring Onions, Squash, Swedes, Turnips, White Cabbage.

February
Apples, Beetroot, Brussels Sprouts, Carrots, Celeriac, Chicory, Jerusalem Artichokes, Kale, Leeks, Mushrooms, Onions, Parsnips, Pears, Purple Sprouting Broccoli, Red Cabbage, Salsify, Savoy Cabbage, Spring Greens, Spring Onions, Squash, Swedes, White Cabbage.

March
Artichoke, Beetroot, Carrots, Chicory, Leeks, Parsnip, Purple Sprouting Broccoli, Radishes, Rhubarb, Sorrel, Spring Greens, Spring Onions, Watercress.

April
Artichoke, Beetroot, Carrots, Chicory, New Potatoes, Kale, Morel Mushrooms, Parsnips, Radishes, Rhubarb, Rocket, Sorrel, Spinach, Spring Greens, Spring Onions, Watercress.

May
Artichoke, Asparagus, Aubergine, Beetroot, Chicory, Chillies, Elderflowers, Lettuce, Marrow, New Potatoes, Peas, Peppers, Radishes, Rhubarb, Rocket, Samphire, Sorrel, Spinach, Spring Greens, Spring Onions, Strawberries, Sweetheart Cabbage, Watercress.

June
Asparagus, Aubergine, Beetroot, Blackcurrants, Broad Beans, Broccoli, Cauliflower, Cherries, Chicory, Chillies, Courgettes, Cucumber, Elderflowers, Gooseberries, Lettuce, Marrow, New Potatoes, Peas, Peppers, Radishes, Raspberries, Redcurrants, Rhubarb, Rocket, Runner Beans, Samphire, Sorrel, Spring Greens, Spring Onions, Strawberries, Summer Squash, Sweetheart Cabbage, Swiss Chard, Tayberries, Turnips, Watercress.

July
Aubergine, Beetroot, Blackberries, Blackcurrants, Blueberries, Broad Beans, Broccoli, Carrots, Cauliflower, Cherries, Chicory, Chillies, Courgettes, Cucumber, Gooseberries, Greengages, Fennel, French Beans, Garlic, Kohlrabi, Loganberries, New Potatoes, Onions, Peas, Potatoes, Radishes, Raspberries, Redcurrants, Rhubarb, Rocket, Runner Beans, Samphire, Sorrel, Spring Greens, Spring Onions, Strawberries, Summer Squash, Sweetheart Cabbage, Swish Chard, Tomatoes, Turnips, Watercress.

August
Aubergine, Beetroot, Blackberries, Blackcurrants, Broad Beans, Broccoli, Carrots, Cauliflower, Cherries, Chicory, Chillies, Courgettes, Cucumber, Damsons, Fennel, French Beans, Garlic, Greengages, Kohlrabi, Leeks, Lettuce, Loganberries, Mangetout, Marrow, Mushrooms, Parsnips, Peas, Peppers, Potatoes, Plums, Pumpkin, Radishes, Raspberries, Redcurrants, Rhubarb, Rocket, Runner Beans, Samphire, Sorrel, Spring Greens, Spring Onions, Strawberries, Summer Squash, Sweetcorn, Sweetheart Cabbage, Swiss Chard, Tomatoes, Watercress, White Cabbage.

September
Aubergine, Beetroot, Blackberries, Broccoli, Brussels Sprouts, Butternut Squash, Carrots, Cauliflower, Celery, Courgettes, Chicory, Chillies, Cucumber, Damsons, Garlic, Kale, Kohlrabi, Leeks, Lettuce, Mangetout, Marrow, Onions, Parsnips, Pears, Peas, Peppers, Plums, Potatoes, Pumpkin, Radishes, Raspberries, Red Cabbage, Rhubarb, Rocket, Runner Beans, Samphire, Sorrel, Spinach, Spring Greens, Spring Onions, Strawberries, Summer Squash, Sweetcorn, Sweetheart Cabbage, Swiss Chard, Tomatoes, Turnips, Watercress, Wild Mushrooms, White Cabbage.

October
Aubergine, Apples, Beetroot, Blackberries, Broccoli, Brussels Sprouts, Butternut Squash, Carrots, Cauliflower, Celeriac, Celery, Chestnuts, Chicory, Chillies, Courgette, Cucumber, Elderberries, Kale, Leeks, Lettuce, Marrow, Onions, Parsnips, Pears, Peas, Potatoes, Pumpkin, Quince, Radishes, Red Cabbage, Rocket, Runner Beans, Salsify, Savoy Cabbage, Spinach, Spring Greens, Spring Onions, Summer Squash, Swede, Sweetcorn, Sweetheart Cabbage, Swiss Chard, Tomatoes, Turnips, Watercress, Wild Mushrooms, Winter Squash, White Cabbage.

November
Apples, Beetroot, Brussels Sprouts, Butternut Squash, Carrots, Cauliflower, Celeriac, Celery, Chestnuts, Chicory, Cranberries, Elderberries, Jerusalem Artichokes, Kale, Leeks, Onions, Parsnips, Pears, Potatoes, Pumpkin, Quince, Red Cabbage, Salsify, Savoy Cabbage, Swede, Swiss Chard, Turnips, Watercress, Wild Mushrooms, Winter Squash, White Cabbage.

December
Apples, Beetroot, Brussels Sprouts, Carrots, Celeriac, Celery, Chestnuts, Chicory, Cranberries, Jerusalem Artichokes, Kale, Leeks, Mushrooms, Onions, Parsnips, Pears, Potatoes, Pumpkin, Quince, Red Cabbage, Salsify, Savoy Cabbage, Swede, Swiss Chard, Turnips, Watercress, Winter Squash, White Cabbage.


So boring

 

[rogersix]

I can get behind opening the idea for a different approach, however what I fail to understand is how they didn’t have the foresight that there would be issues with confidence without the validation and costings?

Can someone please explain / justify this significant oversight? Is there more to this than general incompetence?

i entirely concur, no one is that stupid, this is the plan! it's going great, short the pound, then use the ill gotten gains to buy up all the bankrupt homes and businesses, it's clever and audacious!

 

[Nobby Cybergoat]

i entirely concur, no one is that stupid, this is the plan! it's going great, short the pound, then use the ill gotten gains to buy up all the bankrupt homes and businesses, it's clever and audacious!

To some of their backers and enablers, scorched earth is certainly the plan. The hedge fund owners, environmental vandals, ERG nationalists and hostile foreign powers, this is the blooming of years of their work

But Truss and Kwarteng aren't in on it, despite what the book says. They are just useful idiots. They are there to take the lightning bolts