Truss and her chancellor have ■■■■■■ up the UK. Her local radio tour first thing this morning completely backfired and showed just what an incompetent ■■■■■■■■ she is when it comes to being PM.
3 weeks into her premiership and the first letters of no confidence have gone to the 1922 committee from her own MPs. Current rules state there has to be 12 months between a no confidence vote which means she is somewhat sate until June but if enough tory MPs mobilize the rules could be changed. Alternatively if there are backbench rebellions on votes etc then Truss could be forced to resign.
I just yesterday I was watching a video lecture series “History’s Great Military Blunders and the Lessons They Teach”
It is interesting how many times how many times the culprit was not
“they were outnumbered” or by a bad plan but because the leaders were incompetent, (the Battle of Culloden, the Battle of Cartagena etc…)
What if inflation in the UK (currently 10.1% and forecast to go higher) isn’t transitory?
What 8-10% remains there for a decade?
How much would I loose to 8% inflation if I buy a 10-year bond?
That’s 8% a year, for ten years. How much would I lose?
Yeah, I’m not gonna buy a UK bond, unless it pays a very high rate, and you’re not going to buy a UK bond unless it pays a very high rate.
She was part of Johnson’s cabinet, so carries a lot of blame for that in the eyes of the public, and has made a right mess of things since getting the top job.
She’s already a lame duck, unlikely to be Tory leader at the next election.
And the spending cuts and interest rate rises haven’t even happened yet…
Another poll with a 30 point lead for Labour, these aren’t outliers any more -
Brexit is an ongoing calamity, the economy is tanking, interest rates and inflation are through the roof, exports are collapsing, Northern Ireland looks like it could kick off again, the Scots and the Welsh want out and the English football team look like they will underperform in the World Cup.
When a person comes to power by parliamentary selection etc. (not popular election) there is no 100-day grace period. There is 100 days of skepticism.
(I dunno what comparison to use . . . if a military unit gets a new commander, do all the men automatically smile, offer him a hand, and think optimistic thoughts about him?)
Added:
anyone with leadership potential should know this sort of thing.
But he’s Scottish, so maybe it was more out of spite…
To add:
. During Euro ’96, the Conservative odds on winning the next election were cut from 3/1 to 2/1 following a series of big-money bets. Alastair Campbell’s diaries revealed just how much the tournament impacted Labour’s thinking. Campbell sensed that it was written in the stars” for England and the Tories, to the extent that he found himself “rooting for Germany for political reasons”. After semi-final, he found John Major looking “ashen-faced”, as the “feelgood factor” died the moment Gareth Southgate missed his penalty.
“Our results show that, for both matching methods, major tax cuts for the rich increase the top 1% share of pre-tax national income in the years following the reform (𝑡 + 1 to 𝑡 + 5). The magnitude of the effect is sizeable; on average, each major reform leads to a rise in top 1% share of pre-tax national income of 0.8 percentage points. The results also show that economic performance, as measured by real GDP per capita and the unemployment rate, is not significantly affected by major tax cuts for the rich. The estimated effects for these variables are statistically indistinguishable from zero, and this finding holds in both the short and medium
The only thing that tax cuts for the rich do are indebt a nation while making its rich people richer. But Liz Truss, like Reagan and Thatcher before her, apparently hopes for the best.
She’s been in office 3 weeks!
