James O’Brien: Even the historian, who Liz Truss cites as one of the key inspirations for her economic policies, has gone public with the fact that she doesn’t understand his work. Lucy @LucyVHolland tweeted ”£455 a month increase for us. Two very young children. We don’t have that much spare income per month (like most people) I certainly, will never forgive her, or her party, for this.” Whilst Simon Hall @simad101 Tweeted “Lower income tax rates allow Kansas families and businesses to keep more of their hard-earned money. They know how to spend it more effectively than government does.” This was taken from the great Kansas tax cuts failure. Take out Kansas and its word for word what Truss said.
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I hear Liz Truss also really likes the work of Marshall Mcluhan.
Is this corruption in a very sophisticated form? Just saying !
BofE spent billions, not millions James, to save pensions.
Well, the klepto-tories are ready for Halloween.
They have unleased their witch upon us and that's proper scary.
"trick or treat" they said, "give us all your money and property" they said.
And if you don't, they take everything, anyway, and we end up in the street.
Who voted for them?
One can only hope that out of this absolute disaster that has / will have catastrophic consequences for every citizen for the next 20 plus years is that the Tories as a political entity is cast out to political oblivion never to return which is what they deserve and give the everyday people a government that is for the citizens not just for corporations and the 1% . If you don’t have a fully formed functioning society you don’t have a good healthy economy.
What were the nunber of people getting stopped trying to leave Britain cash loaded suitcases.oh and numbers whloi made it through with said suitcases contains millions
Of course John Redwood has a different version, that it was decision in US on that Thurs preceding the Kwasi Friday statement that had the markets crashing. …. But we do know that Reaganomics was problematic, that not even Thatcher went along with it all. Trickle, Trickle the Hopes and Fears of all the years…..
You may have heard the phrase the plural of anecdote is not data. It turns out that this is a misquote. The original aphorism, by the political scientist Ray Wolfinger, was just the opposite: The plural of anecdote is data. Wolfinger's formulation makes sense: Data does not have a virgin birth
Has anyone looked at mr Truss or OLeary is doing while the missus is selling out the country ?
Angry at announcement that pple will be paid money for cutting back on power usage. Once again it goes against those who r strapped for cash and have already cut back as much as they can. Shld they start increasing their use so an observable reduction can be seen and they get a windfall? Why can pple at the top not see the inconsistencies in these decisions. My lecky bill has been ridiculous for yrs so I have sat by the light of the TV and coal fire for yrs. I do a clothes wash once every 3 weeks, cook with gas, gas bottles, now use a halogen cooker and microwave. Cook enough to last 2-3 days. I use a small battery operated sensor light in the hall that stays on for 35secs. I have had a heat pump installed and bills still same as before because of price hikes altho I do save on gas and coal. So please tel me, where on earth can I cut back?! So no £10 or £100 reward for me. That wil go to the pple who didn't care about the planet in the first place. Way to go reward the ignorant and selfish. Sounds about right for a tory govmt. Pple used to hate me not having lights on and sitting in the dark. Yeh well welcome to my world.
The stupidity of the material that the Treasury posted re the savings someone on £30k a year buying a house which the average mortgage payment would be £28,k a year beggars belief.
Thankfully Martin Lewis got them to withdraw it.
If this is the level of competence God help us!
Trussmuppet is no more than a figurehead, a zombie driven by her far right "think tanks" – which are actually lobby groups for extremely wealthy interests. She's a pawn without an original idea in her tiny noggin. She needs to be removed ASAP.
I'm sorry. This is happening globally. All lenders should make the facts of mortgages very clear. And STILL we dont teach these basic life skills in schools. – I was a victim of the massive increases of the early/ mid eighties and I would dream of 5% then. Add a sprinkling of the endowment thefts…. seems nobody has learned.
"Millions and millions of pounds" to "steady the ship". James, the BoE bailout was £65 Billion, a thousand pounds for each of us. Raised by quantitative easing (creating money) to buy back government bonds, the value of which would normally be paid to the holder in the future. Creating this money is surely inflationary.
It's almost as if people are trading on the Pound and wanted it to dip severely so they could make a killing on currency transactions…
/tinfoil
James O'Moron, the Piers Morgan look alike weirdo
Interest rate rises read as banking elites pocketing more money for doing not a scintilla extra. Yet it’s ok for banking elites to pocket the extra money which they can still spend into the economy. Watch out, the price of Sunseeker yachts will have extra demand. Along with champagne.
As if interest is a tool of economy. No it’s an imposition.
Truss is an Ain Rand fan quite a few idiots believe that the rich are better than the rest of us and gods favoured .
the average house is worth what the bank will lend the average wage earnerthe rest is bullshit, its now worth ten times that and thats a bubble, one day it will collapse did people really think there house was earning more every year than they were for nothing, the stupidity is staggering all that cash was created by debt it is money from the future someone must pay back , the boomers cripled there children and have killed the country and now they vote for these nutters who allowed it
You just cannot underestimate the stupidity of truss!
Great for cash buyers though. How to channel the money upwards