https://twitter.com/liztruss_mp/status/1570382809667350535?s=21&t=uwhhw3nxYRu8naq4KhmcWA

it is the LibDems that have changed”, which totally baffles me.

I reread it and my recollection was faulty, I inadvertently misrepresented him.

I inadvertently misrepresented him.

Misrepresented who? Who is “him”?

I totally agree the LibDems have changed, but I don’t think that is the reason why Liz Truss joined the Tories.

From the time Liz Truss joined the LibDems until 1996 when she joined the Tories the LibDems were led by Paddy Ashdown, nothing happened during that period which suggests the LibDems changed in any significant way. So presumably it was Liz Truss who changed.

Edit : Having reread myself I now suspect you meant that you had misrepresented Mark Littlewood. Confusing!

So presumably it was Liz Truss who changed..

A career politician with no ethics or morals ?
… Say it ain’t so!

I don’t think this has anything to do with the libdems or the conservatives. It’s all about lizz truss..

Yeah I know that is a widely held view but what’s in it for her?

Well, she’s nailed on for the lucrative speaking gigs after her PM job is over. And a nice cushy number at one of her ‘sponsors’ companies doing a couple of hours a year for miliions no doubt.

And I’m guessing she’s so full of herself that she p[ossibly believes the country will accept the BS shes spouting and vote her in again next time as long as she chucks in a quick income tax cut just before the election. Tories have had all the luck recently being able to hide their disasters behind covid, Ukraine, Liz etc. so it might not take much to keep her in power, though you’ve gotta think all he spinning plates are going to hit the deck at some point.

Well, she’s nailed on for the lucrative speaking gigs after her PM job is over.

Hmm.. What’s she gonna talk about…?

Selling yorkshire tea to China?
How disgusting French cheese is?

PMSL 😀

Maybe she’ll talk about opening up new pork markets..
Snigger.

She could set herself up as a political escort, by all accounts she’s had enough practice throughout her career.

Ooooophh!
Hahaha 😀

Fracking Now Safe.
Energy Crisis Solved.
Hurrah For Liz.

It’s okay… she’s solved the problem of falling sterling as well… under $1.14… I can’t remember it ever being that low before. Confidence inspiring…

(Bits of) Britannia Unchained?

https://www.theguardian.com/politics/2022/sep/18/kwasi-kwarteng-to-announce-network-of-low-tax-investment-zones

We here seem to be included in this return to the Victorian era.

Truss has akso given up pretending that there will be a US trade deal finally accepting what was obvious to anyone with half a brain

It sounds like patience with the UK is coming to its natural end in Washington.

I would imaging that today Liz will be sat like a naughty schoolgirl while the Americans tell her, in words of less than 2 syllables so that even she can understand, to pack in all the shit with her weekly threat to trigger article 16 and instead sort out instigating the UK’s legal obligations under the withdrawal agreement it signed. In short: stop ****ing about!

Obviously, having willingly made herself hostage to the ERG and having promised them she’ll trigger article 16 and give them their longed for trade war, this leaves her (and us) in an impossible position. Like most things Brexit-related this will no doubt deliver the worst of all worlds

Like most things Brexit-related this will no doubt deliver the worst of all worlds

Leadership election next year?

Only if she disobeys or crosses the erg/ brittania unchained / Atlantic bridge loons but it looks likely that she won’t from what we see so far. She looks like she is going to do as she is told

Looks like Mad Lizzies ‘plan’ is to borrow more and more money in order to give further tax cuts to people who don’t really need them, in the desperate hope that it generates some form of economic growth

It’s never worked in the past, but you never know… it might work this time

Liz Truss signals further tax cuts could be on way in hunt for economic growth https://t.co/R7VBdC71cT

— The Guardian (@guardian) September 20, 2022

There is no evidence of this having worked. Everyone knows the poor spend all their money plus a bit and the rich don’t. To pretend otherwise is a bare faced porky. It really looks like shock doctrine, scorched earth, Thatcherite nonsense and squeaky Starmer says….?

We are now just being plundered by the ERG and their corporate backers.

squeaky Starmer says….?

There is nothing new about the Tory fantasy of trickle-down economics

[ at only PMQs Truss has held so far ]

Disappointed no one has mentioned the moment of genius when Australian news didn’t have a clue who Liz Truss was when she arrived at the funeral yesterday. Can’t seem to link at work.

She has an awful lot of presence and gravitas does Liz

Listening to an interview on the radio with her justifying scrapping the cap on bankers bonuses is like listening to that weird woman in accounts explaining why she’s rearranged the stationary cupboard so that the post it notes are more accessible

Just saw the news where the Queen Vampire’s economic plan is based on banker bonuses.

Phase 1: collect underpants
Phase 2: ???
Phase 3: World domination

Looks like Mad Lizzies ‘plan’ is to borrow more and more money in order to give further tax cuts to people who don’t really need them, in the desperate hope that it generates some form of economic growth

It’s never worked in the past, but you never know… it might work this time

It depends.

Borrowing – for the hundredth time is not borrowing but increasing spending and then issuing bonds afterwards to match that the deficit. A normal operation.

The issue is Tories are shit at spending for the wider population.

If any government is to make a better job of the country they will absolutely have to spend which will mean (establishment illiteracy) they will have to ‘borrow’ (i.e issue bonds.)

The US has just run a monthly surplus and has absolutely put the stock market on the floor because money is being sucked out of the wider economy.

Trickle-down economics is linked to just about every large Western government. It’s not going to work until the lower income levels get money to spend which means massive government spending (borrowing.)

Balancing the books needs to be off the table.

It’s interesting that modern governments are feeding neoliberalism with more neoliberalism – but using the state more overtly.

The state is the tool, operated by tools.

There is no evidence of this having worked. Everyone knows the poor spend all their money plus a bit and the rich don’t. To pretend otherwise is a bare faced porky. It really looks like shock doctrine, scorched earth, Thatcherite nonsense and squeaky Starmer says…

He says nothing because he’s linked to the same sort of economic model but with balancing the books on his plate which in my opinion will be way worse.

There will be no surplus money going into the economy. Just like your Uncle giving you no treat money.

Aunty Liz giving your rich cousin some money to spend or Uncle Starmer giving everyone nothing.

Labour need to pop up with a big big plan.

Here comes the little bounce which everyone prematurely thought wasn’t going to happen.

Labour leads by 8%.

Westminster Voting Intention (18 Sept.):

Labour 42% (–)
Conservative 34% (+4)
Liberal Democrat 10% (-4)
Green 5% (-1)
Scottish National Party 4% (-1)
Reform UK 3% (+1)
Other 1% (-1)

Changes +/- 7 September.https://t.co/uiMY1VB5DI pic.twitter.com/a2mwPBt1lY

— Redfield & Wilton Strategies (@RedfieldWilton) September 20, 2022

In the interests of fairness apparently there was an unrelased poll last week showing the biggest Labour lead since July 2017 of 46. So the swing back is immense – since the energy support.

I’d be very surprised if Dizzy Lizzy doesn’t catch up in the medium term and then once we get some bad economic figures (because let’s face it the BoE haven’t a clue.) She will tank.

Medium term though inflation is going to correct itself (it always needed a couple of years) – and the BoE will claim they’ve fixed things whilst making everyone poorer.

It depends how the recession has taken hold by then though with people having to pay more for the economy to function because of debt slavery.

There’s some big economic data coming out of the USA today. With a widely expected .75 fed increase. These increases are shaping economic decisions and creating havoc.

We tend to follow them in increases.

Just saw the news where the Queen Vampire’s economic plan is based on banker bonuses.

Fine line between “trickle down” and “pissing on”

Reports she’s planning on cutting Stamp Duty to “aid growth by encouraging people to move”. Surely this is some kind of elaborate joke?

It’s like 1980’s policy Tourette’s

Democratic nations! You too can replace your head of government with a brand new Margaret Thatcher Edition Speak and Spell (TM). Few voters will notice! Freeing up valuable time for your important ministers to continue funnelling government money to their mates with little to no scrutiny. Satisfaction guaranteed or your* money back!

* (technically, it’ll be the voters money, so win win win)

Did she not learn that the Laffer curve says tax cuts only deliver positive results when taxation is at 50% (some say 70%) or above?
To have your economic model condemned by someone like Biden is quite something. This really does seem calamitous.

I’m still waiting for my trickle down from 10 years ago I assume it will result in my leg getting wet and slightly warm after being financially pissed on by the top 10%

Reports she’s planning on cutting Stamp Duty to “aid growth by encouraging people to move”. Surely this is some kind of elaborate joke?

I imagine her house building backers are getting twitchy?

She can cut what she wants, with interest rates rising and people starting to realise house prices ‘may’ drop back, who’s going to move? Plenty of people I know are sitting tight, waiting to see how things develop, ourselves included. Oh, and selling of private lets (not us, far too skint for that!).

Reports she’s planning on cutting Stamp Duty to “aid growth by encouraging people to move”. Surely this is some kind of elaborate joke?

Unfair. It’s not that elaborate.

Struggling with the cost of living? Why not pay thousands for conveyancing, surveys and moving costs? Don’t worry, we’ll cover the stamp duty.

Perfect timing for Liz to have to meet Joe Biden after he condemned trickle-down economics.

https://www.bbc.co.uk/news/business-62969427

Officials have not put an overall price tag on the latest subsidy to firms as the ultimate cost will depend on what happens to the wholesale market price between October and April, when the support expires.

So uncosted and without limit then. What will Labour’s response to that be?

Once again the champions of the free-market rely on socialism to save them from the failures of their free-market.

And Truss is proving to be a poor Thatcherite – I am sure that the Iron Lady would have been prepared to see unemployment climb to over 3 million without flinching.

As Thatcher would say: “The problem with socialism is that you eventually run out of other people’s money”

She will tank

There are loads of things stacked against the country and the majority of the people in it, and only her skills preventing calamity. So yeah she will tank. The writing’s on the wall, tbh, you cannot run a country like this for long.

Inflation will of course come down as prices flatten, but prices won’t come back down and wages won’t go up because people don’t want inflation to keep getting worse. So nearly everyone will still be poorer than they were come the next GE.

Once again the champions of the free-market rely on socialism to save them from the failures of their free-market.

And Truss is proving to be a poor Thatcherite

She’s a money printer. Trouble is the money is being directed to the wrong people. Socialism for the rich, plain and simple. Should be an open goal for Labour but once again they can’t see it, and they’re positioning themselves as the party poopers who grumble in the corner that all this largesse is unaffordable and irresponsible instead of promising to throw open the party to all the people who aren’t invited.

BillMC
Full Member

Did she not learn that the Laffer curve says tax cuts only deliver positive results when taxation is at 50% (some say 70%) or above?

Or, more importantly, that the Laffer curve was made up specifically to give an excuse to cut taxes. It’s not based on observation or measurement, has never been seen to work in the wild, and literally every time a laffer curve enthusiast brings it out they always without fail claim that we’re already past the laffer point and that any cut will give a positive result. It’s not economics, it’s a purpose built right wing fantasy.

Any “evidence” to back it up can usually be shown to be moving money from before ‘till after a change of tax regime (or the other way around), and disappears when taking a 5 year or longer look at the tax revenue figures. Announcing tax changes can being forward, or delay, decisions that expose large value funds to tax.