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Incredible that total failures as PM seem to believe that they were just misunderstood- in this case, she was let down by the “left wing financial establishment”
https://www.telegraph.co.uk/politics...boris-johnson/
I look forward to hearing from the regulars on here how banks, billionaires and the media in the UK are actually left wing not forgetting we've had 13 years of an extreme right government.Originally Posted by the other bob wilson
Incredible that total failures as PM seem to believe that they were just misunderstood- in this case, she was let down by the “left wing financial establishment”
https://www.telegraph.co.uk/politics...boris-johnson/
Abolition of higher rate tax and "reform" of welfare: yes we know who she's looking after. Let's hope she and her ilk never darken our door again.
She and her ilk as you put it are a salutory case study on the modern Conservative Party. Take the five authors of the infamous Britannia Unchained Essays (lazy workers. low tax. low regulation etc).
Even though they all were elected to Parliament as recently as 2010, four of the five have occupied (and left) at least one of the four offices of state.
Truss and Kwarteng soared like Icarus before crashing to the ground. Patel survived running a freelance foreign policy and trashing the Ministerial Code before chucking herself onto the backbenches before she was pushed. Raab, fiddling on Greek beaches whilst Kabul burned clings on by his fingertips whilst a swathe of bullying accusations are investigated.
Skidmore, who has the lowest profile of the five, announced he will not stand in the next election, presumably because the stipend for a recently deposed junior minister neither matches his political or financial ambition.
If these were the cream of the crop of radical new Conservative thinkers then thank heavens their political careers appear to be on downward trajectories.
Absolutely, and apart from Truss (though now an overzealous convert) all were fanatical Brexit supporters. Therein lies a moral which should give us all pause to think carefully.
Is the ‘left-wing economic establishment’ part of the ‘anti-growth coalition’ or are they rival factions?Incredible that total failures as PM seem to believe that they were just misunderstood- in this case, she was let down by the “left wing financial establishment”
https://www.telegraph.co.uk/politics...boris-johnson/
She is batshit crazy.
I hope they're the same. I don't need another T shirt!
Ha ha, I've got mine and I'm in danger of wearing it until it disintegrates.
It's a pretty daft headline in what is an otherwise quite interesting (if long!) article on her thinking during her (short!) premiership.
There is of course no Left-Wing financial establishment, but there is an othadox, liberal establishment that is fairly risk-averse and difficult to navigate. It's the same 'forces' that would have made Corbyns life hell and made Greece's life very difficult under Syriza.
We don't know what would have happened had things settled down. I do think it probably would have delivered better growth long term and the impacts were probably short term, but who knows, and market movements like we saw always breed panic. Worth noting for example that despite the immediate rise, our bond prices have now risen significantly less than many others. We just don't know if that would have happened in time anyway
The book on the shelf by Nigel Lawson has had a right smashing mind. No wonder it went so wrong for Liz.
Have you been smoking crack? You are seriously defending the most incompetent budget in history promulgated by a complete, total and utter moron?
Points of order:
1. The "establishment" isn't and never has been "liberal". It's extremely conservative (note small "c").
2. What Truss parroted was right-wing bollocks - trickledown doesn't and never will work - direct from the Tufton Street gang. It's long-run effects would have been even higher inequality and zero (possibly even negative) impacts on economic growth.
3. I can't see how you think the "establishment" was behind Truss' downfall - the Telegraph just gave her 4,000 words on their frontpage in an attempt to rehabilitate her. The Torygraph is establishment.
You admitted you are not an Economics expert on 18/1/23. Explain why you think Trussonomics would have delivered higher growth. I have my popcorn ready and haven't had a good laugh in ages...
As usual you have come out at your most obnoxious, not even bothering to read what I said, and still I note unwillinng to put your money where your mouth is and actually make a prediction instead of soinding like Rik Mayall in the Young Ones.
I had a similar struggle with the phrase orthadox liberal financial establishment for the institutions that trade in the bond markets. Revisionism seems to be the flavour of the month as disgraced politicians try to revive their reputations using mainly the passage of time as their main defence.
Truss and Kwarteng cobbled together the worst budget in living memory with a small cabal of fellow believers. In doing so they excluded any proponents of financial orthodoxy having already relieved the Permanent Secretary of the Treasury of their duties. They gave the OBR no chance to crunch the numbers beforehand.
What we had was a melange of tax cuts targetted at the already haves at a period of already rampant inflation and an increasing government deficit.
That package could only be funded through a mix of excess borrowing or massive cuts in public spending on a promisary note that greater growth would magically cover it down the line. It failed massively then.
Your supposition is that the impacts would most likely be short term. The meltdown it caused only stopped when Truss sacked Kwarteng and the BofE, which got pelters from some on here at the time, stepped in with massive injections of money that we will need to payback, to stop the chaos spreading to Pension Funds. Any recovery in bond rates is mostly down to this epitome of the orthodox financial establishment rather than the delusional lunatics that triggered it in the first instance.
If she had any humility a long period of silence followed by a departure from Parliament would be prudent. Unfortunately the over-inflated sense of her capabilities that saw her rise still seem to be no less acute.
I read what you wrote. It was garbage.
Except you didn't, because you didn't address what I said and put words in my mouth as usual. That's called a straw man attack and you excel at it!
This government (or any since 2010) is not extreme right wing. Your message gets lost with your hyperbole.
I'm not sure how reducing the higher rate of income tax helps stimulate economic growth, given those earning the most spend more on luxuries that they'll buy regardless of the tax rate.
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Isn't the definition of liberal anathema to orthodox? Surely conservative is coterminous with orthodoxy.
What am I missing?
Feedback meet JamesWales
Your twin brother
Who lives inside you
Because you are one and the same
The game is up
Decent pair ,looks tasty driving a tank .
Bang on!
Hopefully dead soon just like Thatcher
FFS James..you are a complete and utter tool. You spout shite like a 14 year old. I'm sad that you are a City fan. My wish for 2023 is that all fans that think like you find another club/forum.
The Tory line at the next election, “we might have been in power for fourteen years, but we were unable to get anything done because of the opposition at every turn by the liberals who actually run the country” - not much point voting for them really then is there.
Another pleasant poster
Why don't you say what's upset you so much and I'll try and explain it more?
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