Truss debacle unwinding -Moodys.
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 beak  croydon 21 Oct 23 9.32am |
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[Link] The disastrous mini budget masterminded by Liz Truss has finally started to be discounted by the famous Moody credit rating agency.After Boris the first Prime Minister to receive a police fine the Tories needed a safe pair of hands,instead we got a madcap budget in which the Tories printed unaccounted for money in order to give unearned money to people through a tax giveaway.We all know that Truss was quickly ousted and she cost the Tories their reputation for Financial prudence. This goes some way to explaining the two big by election loses yesterday and the undoubted General Election loss next year.
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Jacey  21 Oct 23 10.36am |
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Originally posted by beak
[Link] The disastrous mini budget masterminded by Liz Truss has finally started to be discounted by the famous Moody credit rating agency.After Boris the first Prime Minister to receive a police fine the Tories needed a safe pair of hands,instead we got a madcap budget in which the Tories printed unaccounted for money in order to give unearned money to people through a tax giveaway.We all know that Truss was quickly ousted and she cost the Tories their reputation for Financial prudence. This goes some way to explaining the two big by election loses yesterday and the undoubted General Election loss next year. Sadly,no acknowledgement of apology from Three that she was so badly wrong.Still convinces herself that she was right and everyone else is wrong.
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| beak croydon 21 Oct 23 11.22am |
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Originally posted by Jacey
Sadly,no acknowledgement of apology from Three that she was so badly wrong.Still convinces herself that she was right and everyone else is wrong. The last sentence reminds me of a certain Adolf.
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| steeleye20 Croydon 21 Oct 23 11.35am |
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'Rishi Sunak considering tax cuts after by-election defeats'. Tory MPs urge govt to accept Truss agenda. Tories considering tax cuts for the wealthy. It's tragic really.
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| nead1 21 Oct 23 11.54am |
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Another way of describing it would be "totally and utterly deluded". Apparently she was signing copies of her mini budget at recent Tory party conference. One can only imagine the kinds of people she was signing them for - bizarre.
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PalazioVecchio  south pole 21 Oct 23 1.04pm |
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you forgot to mention her 'Chancellor' who was photographed grinning and laughing at the funeral of Her majesty.
Eze Peasy at Anfield.... |
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| silvertop Portishead 21 Oct 23 1.29pm |
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As much as you love Brexit, those opportunistic MPs and genuine Europhobes who jumped on that bandwagon are the lowest hanging fruit. Trouble is this country voted them in with the inevitable consequences. In terms of economic stewardship you might as well have voted in Corbyn.
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| Stirlingsays 21 Oct 23 2.11pm |
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Originally posted by silvertop
As much as you love Brexit, those opportunistic MPs and genuine Europhobes who jumped on that bandwagon are the lowest hanging fruit. Trouble is this country voted them in with the inevitable consequences. In terms of economic stewardship you might as well have voted in Corbyn. What we are seeing on the economy is mainly the consequences of lockdowns, paying healthy people to stay at home for two years and what in effect was money printing for the markets. Not only were small businesses destroyed the supporting infrastructure like their supply chains were too. A massive wealth transfer occurred. The 'recovery' from this will be slow whatever the environment. This same story is true for us and all lockdown countries to the extent that they enacted it.....When I last looked the UK is roughly in the middle in terms of European economies. So forgive me if I react against this constant 'look back in anger' at a decision that gave two fingers to an establishment that has been giving two fingers to a population for decades.
Edited by Stirlingsays (21 Oct 2023 2.13pm)
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| Stirlingsays 21 Oct 23 2.15pm |
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Originally posted by steeleye20
'Rishi Sunak considering tax cuts after by-election defeats'. Tory MPs urge govt to accept Truss agenda. Tories considering tax cuts for the wealthy. It's tragic really.
You still actually thinks it matters who gets in don't you Steely.
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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Forest Hillbilly  in a hidey-hole 21 Oct 23 3.37pm |
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Originally posted by Stirlingsays
What we are seeing on the economy is mainly the consequences of lockdowns, paying healthy people to stay at home for two years and what in effect was money printing for the markets. Not only were small businesses destroyed the supporting infrastructure like their supply chains were too. A massive wealth transfer occurred. The 'recovery' from this will be slow whatever the environment. This same story is true for us and all lockdown countries to the extent that they enacted it.....When I last looked the UK is roughly in the middle in terms of European economies. So forgive me if I react against this constant 'look back in anger' at a decision that gave two fingers to an establishment that has been giving two fingers to a population for decades.
Edited by Stirlingsays (21 Oct 2023 2.13pm) I have to disagree slightly here with your opening sentence. I listened to a money boffin being interviewed on the radio just as the pandemic was taking hold.
"The facts have changed", Rishi Sunak |
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| Stirlingsays 21 Oct 23 4.09pm |
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Originally posted by Forest Hillbilly
I have to disagree slightly here with your opening sentence. I listened to a money boffin being interviewed on the radio just as the pandemic was taking hold. Perhaps I couldn't say. I suppose all we can rely upon are the statistics....and hope that they are genuine and not manipulated. Unfortunately the reality is that it's all curated information and we only get the actual honest stuff later when few are looking.
'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen) |
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| steeleye20 Croydon 21 Oct 23 5.47pm |
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I don't think the damage inflicted her is recoverable. Every lever that is pressed has an equally adverse reaction. Just to service the debt amassed by the conservatives in office is astronomical.
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