The Premiership of Mary Elizabeth Truss.Sept 2022 - Oct 2022

[Hook]

Yes, it is far more transparent now. There is no masquerade. The Tories now openly exist to move money upwards to donors and from there offshore. There is no pretence beyond maybe the occasional entirely undefined “levelling up” slogan, which seems to translate to ‘level the north and move money upwards’.

Thatcher at least had some rhetoric that had traction in certain areas. There was an undeniably aspirational ‘upwardly mobile’ ethos along with investment to back it e.g. the BBC Computer Literacy Project, the Enterprise Allowance Scheme etc. In hindsight her tenure was obviously a total disaster. A lot of crazy bad decisions that left the UK hollowed-out, bitterly divided and unable to compete in much beyond the service industries, but there was good there too, and as an ideology it was at the time untested.

It has now been tested to the point of national destruction, yet here we have Liz Truss cosplaying Thatcher in front of a Leman Brothers/Enron economic model.

The concept of “leveling up” has always struck me as hypocritical. Yes, it’s good to invest in places that have been neglected in the past. But who’s fault is that neglect? Wouldn’t that be the same folks who are now promising to make up for their sins of the past? Seems like a poor basis for trust going forward.

 

[gustav_errata]

Time for TheWeekInTory again (Twitter). On any sane planet this would be satire. It isn’t, he fact-checks absolutely everything.

"The kind of PM you find on Gumtree" gave me a good ol' chuckle.

 

[sideshowbob]

This is very good:

https://chrisgreybrexitblog.blogspot.com/2022/09/the-week-wheels-came-off-brexit-britain.html

 

[Alex S]

Chris Philp: “appears to be a baboon after a flash fire.”

 

[Hook]

The Economist article referenced is paywalled, but “banana monarchy” might trend.

“…
Asked if Britain was becoming erratic and more like an emerging market, Gardner did not hesitate: “That would be an insult to emerging markets.” He added that while Britain isn’t in control of some factors dragging its economy down, like Russia-driven energy shocks, it's making a mess of what it does control: “Brexit is a significant damage to the long-term prospects of the U.K.”

A senior economist at a panel moderated by Global Insider lamented that the British cabinet appeared to be “losing its mind.” The Economist magazine is running a section this week on the actions of Prime Minister Liz Truss’ team: “How not to run a country.”
…”

https://www.politico.com/newsletter...s-britain-becoming-a-banana-monarchy-00059708

 

[TheDecameron]

Just heard political cadaver Leadsome on R4- the markets have been wrong in the past. Another Tory- the pound makes us more competitive.

 

[matt j]

This isn't done by a long chalk

“There’s a lot of pain out there, a lot of forced selling,” said Ariel Bezalel, fund manager at Jupiter. “People who are getting margin called are having to sell what they can rather than what they would like to.”

https://www.ft.com/content/9d2005ba-8f5a-4e60-a980-92dd7c64689a

 

[wulbert]

It would seem that the UK is not actually in a recession.

https://www.bbc.co.uk/news/business-63086562

actual +0.2% vs projected -0.1%

However, before a collective cheer goes up:

"This is because the new ONS figures show the impact of Covid on the economy was more severe than previously thought, and it had shrunk by more than estimated in the first few months of the pandemic."

"Well I've been down so goddam long,
That it looks like up to me....."

 

[puddlesplasher]

I was saying to someone today that I’ve always thought the Conservative party throughout their history has been self serving and not looking after the country as a whole.

 

[Somafunk]

Don’t worry says right wing bint, the markets and businesses actually love our budget

https://twitter.com/bloomberguk/status/1575816600850206721?s=21&t=JkF9lYHclDbHDlmoS49Q0g

 

[tones]

Courtesy of The Economist. I notice my bit of the UK doesn't get a mention on the boat - does that mean that we won't sink?

 

[KrisW]

Courtesy of The Economist. I notice my bit of the UK doesn't get a mention on the boat - does that mean that we won't sink?

You're still in the Single Market.. that's got to be worth a bit

 

[ks.234]

Courtesy of The Economist. I notice my bit of the UK doesn't get a mention on the boat - does that mean that we won't sink?

There was some confusion at Tory Central Office when the order went out to scrap NI

 

[paulfromcamden]

LBC reporting that a number of Tory backbenchers are planned to rebel and vote down the withdrawal of the 45% rate.

Awkward.

 

[Tony L]

LBC reporting that a number of Tory backbenchers are planned to rebel and vote down the withdrawal of the 45% rate.

Awkward.

Interesting. The accepted norm is if a government can’t pass a budget then it has fallen and a GE needs to be called. How this relates to that I have no idea.

PS There are also suggestions large numbers of letters are going into the 1922 Committee. It wouldn’t surprise me if they weren’t most of the way to the numbers needed. The upcoming Tory conference will be the first in history that has my attention. I am very much looking forward to watching these truly awful people rip themselves to shreds. The ones that even bother to turn up that is. I’m expecting Truss and Kwateng to go down like a fifth-rate Jimmy Savile tribute act.

 

[matt j]

Well they've already had to cancel the conference karaoke, I bet Coffey is gutted.

 

[ff1d1l]

Ch4 news article on how the tees freeport dredging is disturbing and relocating sediment with toxic chemical levels way above the international standards for dumping at sea.

It's being dumped at sea.
Shellfish and fish dying, the water has turned orange.
No connection say the Environment Agency.

Gotta love those freeports!

 

[TheDecameron]

Well they've already had to cancel the conference karaoke, I bet Coffey is gutted.

…and it’s now strictly BYOB. The giant Downing St wheely case from the lockdown parties should see Coffeve through.

I think the portents were always there with Truss. This image says ‘don’t let her anywhere near the levers of power’,

 

[wulbert]

…and it’s now strictly BYOB. The giant Downing St wheely case from the lockdown parties should see Coffeve through.

I think the portents were always there with Truss. This image says ‘don’t let her anywhere near the levers of power’,

Is that the Sorting Hat on her bonce?

 

[ff1d1l]

Is that the Sorting Hat on her bonce?

Slytherin...