I tend to view things mentioned in the above posts on a slightly different perspective.

Scientific Guidance for Covid was always politically led ££££. Sir Chris Whitty should hang his head, and others.

Fundamental flaws in a Covid Strategy. Track and Trace, leaving people in care homes to die.etc. Or perhaps these errors of judgement were made under the influence of excess alcohol, during many Government works meetings where heavy drinking was par for the course.

The Covid Contracts trough. What was (in any other circumstances) an illegal awarding of huge contracts to friends, relatives and business acquaintances with no accountability.

The markets had no choice but to react to whatever was put in front of them during Covid, but let's not pretend they also had no influence on Government policy. The Government was at pains to protect the economy.

There is no residual impact of Brexit. Europe was always going to make an example of the UK, and totally try to fck us over at every turn. This will continue forever.

Rising energy costs. An absolute pl55-take of the free-market economy. Where captive markets are exploited to their fullest to provide Government tax, profit and dividends for shareholders. All of the energy /fuel companies are posting record profits from the last couple of years. There is no need for prices to be this high, and the warnings of winter black-outs and no heating are complete bullocks.

The Ukrainian invasion was a convenient distraction for the West, which they provoked by getting Ukraine to join the NATO expansion. Now a glorified live-firing range for the arms manufacturers and dealers to sell their wares. No Government(s)-negotiated solution or cease-fire, just the murdering of civilians and destruction of a country while NATO took a step back.

So, we clap for nurses then don't want to pay them
We put Ukraine flags in our windows, whilst the arms companies pay dividends to share-holders
And the UK is free-falling into a third-world economy.

And who is paying for poppies on Rememberance Day? our ex-service people should be looked after by Government funds and arms companies profits. The people that sent them to war. Not charitable donations from the public.

Just my opinion(s), in the current climate.

That's very true.

The fact that Tory MPs thought Kwarteng's poor understanding and handling of market reaction creating a 60 billion loss was unacceptable yet regard Sunak....the guy who literally spent 400 billion keeping people at home is a little insane in my eyes.

The markets apparently regard the ridiculous levels of spending by Sunak as sensible, yet when it's Kwarteng suddenly they throw a wobbler.

Personally, I think there is more to it.....Sunak is their man.

I could agree, only Sunak pretty much copied other chancellor’s on Covid, whereas here Kwarteng didn’t.

Not amusing at all , rather sad really.

I appreciate you can't help yourself which is worthy of some sympathy.

Stating Brexit has had an impact other countries have not had, i.e those who did not have Brexit which is no other country by definition, is hardly insightful analysis.

Edited by HKOwen (12 Nov 2022 9.41am)

Edited by HKOwen (12 Nov 2022 10.07am)

I agree that Kwarteng acted against market interest....However, all the market is interested in is their own money, not yours. It's no real skin off their nose that Covid spending was 400 billion, so the idea that Kwarteng lobs another 60 billion by scaring 30 gilts comes across as a little....irrational to me. The realistic idea that any of this can really be repaid went out of the window in 2008. What matters to the markets is influence and predictability.....and who is left holding the baby when it eventually collapses, and a lot of them plan that it won't be them, it'll be Joe Public.

It's no accident that the vast majority of chancellors acted the same way on covid.....they were all part of the same discussion groups, along with market leaders. They all design the landscape.

However, this cozy market consensus was far less the case in the past, Kwarteng did similar to what Thatcher did when she first came in.....we had economists and market leaders signing letters in newspapers and a bad economic reaction back then as well.

The difference here is in the power shift from the political sphere to the financial sphere. Politicians just don't have the same level of power anymore and that's because they have loaded their societies with huge debt levels. It started in the 70s with Nixon and the gold standard to pay for Vietnam but only really became a problem here with Blair/Brown borrowing in the nineties....amusingly while the economy was doing well.

The money men have always been very important and behind much policy, however now their reactions and commentary get to decide who sits at the top.

The membership who are meant to get a limited say in who leads their party didn't even get that.

Edited by Stirlingsays (12 Nov 2022 11.33am)

Having worked U.K. the public sector, it is not uncommon for some, who get senior jobs, working for the Ministers, to be K***s, not all though. Many get the jobs based on them talking a good game, rather than having any experience in the relevant field.
I do not know whether this story is true but I do know, having witnessed and been on the receiving end, that some senior Civil Servants, are happy to dish it out.