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

[Sid and the Sharknados]

If it’s something that “just is”, like breathing, then you don’t need to keep mentioning it.

It’s not though, is it? It’s a discredited pseudo science that has to have very certain conditions to “just be”, cannot be backed by a mathematical model, urges the printing of additional money (great idea right now, not) and is, for the last time a THEORY and not fact. The T in the title is a giveaway

Oh, I assumed the T stood for "Tosh".

What a numpty I am

 

[Guinness Boy]

I’ok try not to be insulting but the previous poster was testing my limits. At last a good question which I will have to consider before I reply in full.

Google, Ben. The word you’re looking for is Google.

 

[drew]

No, forget the 'oven ready' bit - that really is just remainer rhetoric.

The reason many pro Brexit voters (the ones that weren't racist, homophobic, zenophobic and thick - and whose normal inclination eould be to vote Labour) voted for the Tories is that they were the only party that could be trusted (yes, a strange word to use for the Tories, but in this case approppriate) to actually homour the result of the referendum and implement it - and actually leave the EU.

What is important now is for Labour to re-assure us that they will not try and take us back in. I know Starmer has said the right things, and the manifesto mentions working with the EU (so presumanly not within it) but I'm not 100% convinced that Labout members and activists - let alone the champagne socialist wing! - are 100% on message with the party's official stance. The next election is Labour's to lose - but they could still manage to snatch defeat from the jaws of victory if they try hard enough!

Let's be honest, it's clear from your many postings on the subject that you would have voted for Brexit regardless of the affect on the economy. As for Oven Ready, that was Johnson's phrase so don't blame the Remainers.

As for Labour's stance on the EU, why should they be 100% behind Brexit? Johnson was on the fence right up until the vote and the current PM actually voted remain before seeing a career opportunity. I'm pretty certain there are many tory members, activists etc that are against Brexit. What is important is what the Starmer has said. He's made it clear we shan't be rejoining. However, I doubt that will persuade you as, just as you were, and remain, adamant that Brexit is a good thing, I suspect you will feel the same about the Tories and not be persuaded to vote Labour!!

 

[Baldseagull]

This comment just made me laugh out loud. You dont know how wrong you are. I`m nothing like you imagine. As I have pointed out earlier in this thread many of the developers of MMT are completely grounded in the finance industry and banking they are not all ivory tower academics. They know plenty about the "real world" of economics and finance, and the complexities of the UK exchequer and the US Fed unlike their critics . For example Warrren Mosler, who I consider a genius, one of the founders of MMT, trained as an automotive engineer and economist, owned his own high performance car factory, and ran his own Bank., Hardly someone who is "talking nonsense about a subject he knows very little about"

I think Isaac Newton was a Genius, but if you try and use his Theory of Gravity to plot your trajectory to get to Mars, you will be f***ed.

I don’t see the relevance of 1 & 2 to the debate. I can tell from your question 3 as I suspected that you don’t have the foggiest idea what MMT is. As I have repeated seemingly ad nauseam on this thread it’s not something you “do”it describes something that “is”, a description of the functioning of economies with a sovereign fiat currency. I and half time pies have given copious references so that you can understand MMT. So having to repeat myself over and over again is to quote Swansman getting f***ing boring. Make a start by looking at Wikipedia which unusually for that organisation is fairly good.

You can describe the platform of the railway station as moving past your window, not a problem, until you try and do something practical. With the wrong model you could be trying to stop the platform from moving instead of the train when you want to get off the train.

 

[TomandJerry]

 

[Eric the meek]

Does anyone have a sense of how MMT* is faring at Chequers today?

'I am determined to maintain stability and keep the soup in the bowl'.

*Market Mayhem Truss.

 

[GT49er]

Does anyone have a sense of how MMT* is faring at Chequers today?

'I am determined to maintain stability and keep the soup in the bowl'.

*Market Mayhem Truss.

No, no - that can't be true. I thought the policy was to rely on borrowing a bowl to support the soup?

 

[PILTDOWN MAN]

No, no - that can't be true. I thought the policy was to rely on borrowing a bowl to support the soup?

But the soup has been used already this week.

 

[GT49er]

But the soup has been used already this week.

But I thought the BofE had made some more?

 

[Sid and the Sharknados]

I think Isaac Newton was a Genius, but if you try and use his Theory of Gravity to plot your trajectory to get to Mars, you will be f***ed.

Boring comment warning:
Newton's law of gravity would probably be fine for that, unless you were planning on going via several hundred very close orbits of the Sun.
It becomes inaccurate near very massive objects like stars or black holes, hence the discrepancy in predicting Mercury's orbit over time.
To try and bring this back to the point of the thread - I'm willing to bet that Liz Truss hasn't ever formulated a theory of gravity.

 

[PILTDOWN MAN]

But I thought the BofE had made some more?

 

[junior]

There was a time when I was growing and I used to see the Prime Minister (and leaders of the opposition) on TV and they seemed like leaders and people with a presence about them. Major, Blair, Cameron, Kinnock, Prescott, Paddy Ashdown etc. I'm not actually interested in politics so I don't take sides and favour people because of a political view. In recent times we've had Clegg, Truss, May, Corbyn, Those 2 brothers from the Labour Party etc. UK politics really is an absolute state at the moment.

I'm 42 and I've never voted and don't intend to start now.

 

[Doonhamer7]

Boring comment warning:
Newton's law of gravity would probably be fine for that, unless you were planning on going via several hundred very close orbits of the Sun.
It becomes inaccurate near very massive objects like stars or black holes, hence the discrepancy in predicting Mercury's orbit over time.
To try and bring this back to the point of the thread - I'm willing to bet that Liz Truss hasn't ever formulated a theory of gravity.

I just love how a thread on NSC can move from one topic to another, I bet no other forum can do this

 

[Eric the meek]

'Uh-oh. I've served the soup to the wrong chancellor, and some has trickled down into his lap. Jacob, what should I do?' - MMT
'Sack him. Imply he's wet himself, look disgusted, and tell him to clean himself up and behave like an ex-chancellor' - Jacob Rees-Mogg.

 

[Guinness Boy]

I'm 42

Probably time for a name change

 

[TomandJerry]

Doctors have rounded on the health secretary, Thérèse Coffey, after she admitted to sharing prescription medicines with others, actions the British Medical Association described as both dangerous and against the law.

Coffey told civil servants in a meeting last month that she had given leftover antibiotics to a poorly friend, an admission that came as the discussion on how to alleviate pressures on struggling GPs moved on to public behaviour around antibiotics.

 

[Guinness Boy]

Does anyone have a sense of how MMT* is faring at Chequers today?

'I am determined to maintain stability and keep the soup in the bowl'.

*Market Mayhem Truss.

Isn’t Boris still in Chequers?

 

[GT49er]

View attachment 152868

....and what, pray, has the new health secretary's job got to do with finding more soup?

 

[Bakero]

There was a time when I was growing and I used to see the Prime Minister (and leaders of the opposition) on TV and they seemed like leaders and people with a presence about them. Major, Blair, Cameron, Kinnock, Prescott, Paddy Ashdown etc. I'm not actually interested in politics so I don't take sides and favour people because of a political view. In recent times we've had Clegg, Truss, May, Corbyn, Those 2 brothers from the Labour Party etc. UK politics really is an absolute state at the moment.

I'm 42 and I've never voted and don't intend to start now.

You're 42! I had you down as at least a decade older.

 

[Eric the meek]

Isn’t Boris still in Chequers?

Yes. He's still in Wilf's £150,000 tree house, hand crafted by Matt (If I were a carpenter, would you marry me anyway?) Hancock.