Liz Truss’s time is up

[ska invita]

Labour in 1945.

i would imagine banking is much different now to how it was in 1945
could do with a more modern example

 

[Spandex]

could do with a more modern example

I really need to be doing some work, but knock yourself out:

List of nationalisations by country

 

[redsquirrel]

Markets are amoral, impersonal and only care about the performance of investments. If the prospects look good money flows in, if the prospects look bad money flows out.

..........

The political opposition to renationalisation is a different issue.

What does that last line mean in the contact of the preceding paragraphs? Where is this political opposition coming from? And political as opposed to what, economic?

 

[SpookyFrank]

We’ve entered another realm (watch the video in the first reply if you havent seen it)

And this is supposed to be the real world is it?

 

[Karl Masks]

But he is on the cover of the Rolling Stone.

But not the Lancet

 

[ska invita]

I really need to be doing some work, but knock yourself out:

List of nationalisations by country

Chavez was the most recent one i could think of
THis is interesting

CHART OF THE DAY: Hugo Chavez Defeats American Capitalism

www.businessinsider.com

Mitterrand in 1982 had a lot - from a quick glance the stock market didnt flinch...i was too young to remember....interesting

 

[Spandex]

What does that last line mean in the contact of the preceding paragraphs? Where is this political opposition coming from? And political as opposed to what, economic?

The discussion started with what 'the markets' will allow, prompted by comparing the market reaction to Truss/Kwarteng's mini budget and a hypothetical Corbyn government.

What the markets do is not one and the same thing as what individual investors, politicians, media, 'the establishment' want or do. As Truss and Kwarteng just found out.

I think I know where you're coming from in that last paragraph. Of course the markets, the economy are political constructs, a system created over centuries at sword, cannon and gunpoint as well as financial force, protected by establishments who have come to see them as 'natural', a force to be navigated.

 

[Supine]

Somebody has tagged a fracking site on maps

 

[Wilf]

Even old Cumberland Digits is treating her with contempt.

11:22 here:

Kwasi Kwarteng says ‘let’s see’ when asked about potential U-turn on corporation tax – as it happened

Chancellor does not rule out increasing corporation tax when asked about whether government will perform U-turn

www.theguardian.com

 

[Cid]

Even old Cumberland Digits is treating her with contempt.

11:22 here:

Kwasi Kwarteng says ‘let’s see’ when asked about potential U-turn on corporation tax – as it happened

Chancellor does not rule out increasing corporation tax when asked about whether government will perform U-turn

www.theguardian.com

You can direct link to bits of the graun live feed by right clicking on the time stamp and copying that link, e.g:

Kwasi Kwarteng says ‘let’s see’ when asked about potential U-turn on corporation tax – as it happened

Chancellor does not rule out increasing corporation tax when asked about whether government will perform U-turn

www.theguardian.com

It has its own article now:

King Charles greets Liz Truss with: ‘Back again? Dear, oh dear’

Under-fire prime minister has awkward exchange with monarch at first weekly audience

www.theguardian.com

 

[elbows]

The significant thing isnt what Charles said, because its just a mode of speech and how to deals with awkward moments. The significant thing is that the media are able to seize upon it and cast it in that way - another demonstration, as if one were needed, of the perilous position Truss finds herself in, and how the press scent blood.

 

[Wilf]

The significant thing isnt what Charles said, because its just a mode of speech and how to deals with awkward moments. The significant thing is that the media are able to seize upon it and cast it in that way - another demonstration, as if one were needed, of the perilous position Truss finds herself in, and how the press scent blood.

I agree, though there's a chance windsor doesn't like women who cling onto positions of power.

 

[Wilf]

The significant thing isnt what Charles said, because its just a mode of speech and how to deals with awkward moments. The significant thing is that the media are able to seize upon it and cast it in that way - another demonstration, as if one were needed, of the perilous position Truss finds herself in, and how the press scent blood.

It's probably just the pose she's in when the photo was taken, but that's at least the second image I've seen of truss doing a composite bow/curtsey. There's also a chance the photo edtors are choosing the precise moment that makes her look a complete div.

 

[elbows]

I agree, though there's a chance windsor doesn't like women who cling onto positions of power.

Or he is concerned that her vision of making the pie bigger might involve making his fingers tradable on the port markets.

 

[Wilf]

Anyway, my etiquette advice for any Urbanites who didn't go to finishing school: shake hands and then bow, don't do them at the same fucking time!

 

[elbows]

Nah, overthrow the old order by blending curtsying with mooning and cocking a snook.

 

[Gerry1time]

Anyway, my etiquette advice for any Urbanites who didn't go to finishing school: shake hands and then bow, don't do them at the same fucking time!

I think it depends on your own social rank too. My understanding is that Earls and Dukes can do ‘pull my finger’ when meeting a monarch, as long as they follow it with a deferential “better out than in ‘ey?”

 

[Yossarian]

Here's some etiquette advice for anyone who's going to shake hands with the king:

 

[Artaxerxes]

Anyway, my etiquette advice for any Urbanites who didn't go to finishing school: shake hands and then bow, don't do them at the same fucking time!

If I ever get to a point I meet the monarch I like to think I’m turning my back.

 

[emanymton]

If I ever get to a point I meet the monarch I like to think I’m turning my back.

I'd like to be pulling a lever attached to some rope myself.

 

[Artaxerxes]

I'd like to be pulling a lever attached to some rope myself.

Have to be realistic, I’m more likely to end up on the receiving end of a surprise visit to the fete than I am storming the barricades of Windsor

 

[Orang Utan]

PMQs is always a terrible way to measure the performance of the PM, but it's good to see its in line with the skills she's shown since coming power in....[checks google]....oh good, 36 days ago.

I rue the day they began televising Parliament and it all became about entertainment rather than informing the public

 

[Karl Masks]

Does she need the king's permission to continue being a disaster?

 

[elbows]

Pound now soaring since someones been briefing sections of the press that more mini-budget u-turns are being considered. Chancellor currently in America, lol nice timing.

 

[steveo87]

Does she need the king's permission to continue being a disaster?

As her political career will atest, she never needed anyone's permission

 

[Artaxerxes]

I rue the day they began televising Parliament and it all became about entertainment rather than informing the public

When was it ever about informing the public?

 

[elbows]

And as the prospect of more u-turns grows, Chope is still trying to defend the shit budget and is wanking on about the anti-growth coalition firing on all cylinders.

 

[maomao]

It's probably just the pose she's in when the photo was taken, but that's at least the second image I've seen of truss doing a composite bow/curtsey. There's also a chance the photo edtors are choosing the precise moment that makes her look a complete div.

Tbf to Truss on this one point only, what a curtsey and a bow look like has changed several times through history and she's the Prime Minister, if she curtseys like that a) it'll likely catch on and b) anyone with half a brain doesn't give a fuck anyway. It's not like a curtsey is an actual thing.

 

[Kaka Tim]

So Liz truss - and the upness of her time...

Well the latest of instalment of "the UK government" has properly jumped the shark and we deep into WTF? territory - so who knows? But i'll give it a go.

Looks like the market applying the bollock crushers and the related dismay from mps with one eye on the opinion polls will mean that the "mini" budget gets dismantled piece by piece and kwarting gets the boot in favour of someone who can do a convincing show of cautious competence. This could mean the economy doesnt continute to tail spin and things like borrowing and interest rates are less terrible and the pension funds dont go to the wall. But deep and lasting damage has been done. Deep public spending cuts are poltically very difficult - but some painful squeezing is inevetiable.
Where that leaves truss is someone whose authority and credibility is completely shredded - a complete hostage to her mps who are now assuming the next election is lost and they have nothing to loose in rebelling. This may mean she gets booted around by the various factions within the party - so anything opposed by any bloc of more than 40mps wont get through.
Will she get replaced? Looks like most of her mps think she's a disaster and her cabinet arent exactly full square behind her. But getting shot of her so soon - and agreeing a "unity" candidate so as to avoid the bufton tuftons choosing another loon is a big ask. So they may stick with her in lame duck role whilst focusing on damage limitation.
But she look like someone who will continue to shit the bed with both mps and voters to the point where letters stack up and - so it maybe she goes in 9 months to a year instead - and then what? A "safe pair of hands" to lead them into the election (and inevitable defeat)? more civil war?
At the least it looks like her most extreme and damaging policies stand little chance of seeing the light of day - but tory power struggles will continue to rage all around her and she will have zero ability to quell them.
One faction - the reality based non brexit headbangers -might resign the whip and bring the government down . not likely cos they will very likely be finishing their careers- but dont think it should be ruled out.

 

[elbows]

The Guardian took a look at the right wing press turning on her:

‘Pig’s ear’: Tory press raises doubts about Liz Truss’s future

Once-loyal papers such as the Sun and Daily Mail start to turn on PM amid financial turmoil

www.theguardian.com

Includes:

Criticism also came from the Financial Times, which said Truss had presided over “Britannia Unhinged” – a reference to the book titled Britannia Unchained she wrote with Kwasi Kwarteng and other free-market backbenchers in 2012.

In addition to the scorn poured on Truss by the national press, the editor of an influential website within the Tory party – Conservative Home – said there were doubts about whether the mini-budget could survive at all.