To be starting to really worry about Liz Truss

[Anothernamechangeplease]

OK, so I'm not a Tory. I hate Boris, and despise the rest of them. I don't hold or much hope of any of them actually doing anything to address the problems that we're currently facing, because I don't think any of them actually give a toss about ordinary people. Of the two candidates that are left in the Tory leadership contest, I would pick Rishi, because I think he has a more realistic understanding of the economic challenges, but obviously, I'm not a party member so I have no say in the matter.

Nevertheless, I have been relatively sanguine and the prospect of Liz Truss as leader, a) because I figured that things couldn't get much worse than the shit show that we have had under Boris, and b) because I am pretty sure that she will be utterly unelectable when it comes to the next general election, so worst case scenario would be that we have another couple of years of crappy Tory government, exacerbated by the cost of living crisis, and then we can be pretty confident of getting shot of them. So, pretty shit all in all, but survivable.

But listening to everything that she is saying she wants to do, to the economic forecasts, and to the analysis from both within and beyond the Tory party, I'm starting to get really very worried. All this talk of huge tax cuts and massive reductions in public spending...I fear that she is going to make the looming economic crisis infinitely worse at a time when we can least afford to risk it. Nearly all economists seem to agree that her plans are going to make things worse, not better.

We are already at breaking point. Public services are on their knees. Businesses are struggling to stay afloat. People both in work and out of work are struggling. The most vulnerable are already having to choose between bare essentials such as eating and heating. Inflation continues to soar, energy prices are going off the scale, interest rates are going up... and she is about to make it worse! We just don't have the resilience in the system to cope with this.

I am actually very worried about what is going to happen. This could be very bad indeed, and a lot of people are going to suffer. If we end up with austerity on steroids in the midst of an unprecedented economic crisis, there will be massive civil unrest, surely?

He went into politics quite recently

After graduating, he worked for Goldman Sachs and later as a partner at the hedge fund firms the Children's Investment Fund Management and Theleme Partners. Sunak was elected to the House of Commons for Richmond (Yorks) in North Yorkshire at the 2015 general election, succeeding William Hague.

He went from analyst into Hedge Funds. It is really telling that he leapt so high as most people stagnate as analysts. I'm guessing he had good instincts.

I don't really know to be honest. I don't know enough about him. I just know that I don't trust the Truss!

110% mortgages. Spend, borrow, spend, borrow, spend, borrow. You were basically allowed to buy a property with a 100% mortgage and an extra 10% to do with what you wanted!

It grew massively as an economy, and was even in the black at times, but every individual borrowed more than they had and when the US Fannie Mae and Freddie Mac shite broke, the world economy broke and Ireland was almost held at gunpoint to absorb debt by the EU (of which the UK was a part at the time). Irish bonds became junk bonds.

I think there's a lot to be learned about caution at volatile times in markets and that extends to volatile at the bottom and volatile at the top.
In general, despite policy, the world follows a cyclical pattern of recession, growth, prosperity, decline, recession, growth etc.
War is one of the things that influence markets.
The other major one is pandemics (has always been the case)
We also are very much at a knife edge with climate change and energy pricing at the moment is linked to a carbon tax too. Where do you draw the line?
I'd prefer Sunak looking at the figures right now than Truss.

This is a really sad interview, as Ireland paid to keep the Euro afloat essentially and Brian Lenihan has since died from cancer.

I can't find the interview but it was literally a visit at about 11pm at night and Ireland had to announce the bailout the following morning.

If you want to instil fear in an Irish person, just mention The Troika! 😯

Accountants are not necessarily useful when you can't balance the books.

Chilling.
Most people have short memories.
Shamr Greece we’re not spared.

WAr is waged economically these days. Look at Russia and energy today.
No one should get too used to comfort….

Chilling indeed. I worked in companies which went bust in 2008. My nerves haven't quite recovered. I'm not sure that Britain is accustomed to austerity. Everyone thinks that everyone is doing ok bar them. It's almost like you don't talk about it. You don't say to your neighbour in Hertfordshire 'dahling, we've just had to sell the jag, we simply can't afford it!'. I think people who are accustomed to poverty (or at least, not accustomed to wealth), usually have buoyed themselves a little. I'm not sure how buoyed any of the Western economies are facing into what we are facing.

I never really took to Kier Starmer before but surely he’s a better alternative to what’s coming?

Some on Sir Kier, save us!

Apologies for my dreadful reply it posted before I could spell check it.
Many of us remember the 2008 crash, and many less poignant recessions before. This one is unlikely to Beas deep or as long. Although there are concerns about China’s property and banking.

My Russian friends did say the sanctions won’t do much to affect the average Russian as they are used to rock bottom living standards and freezing, scratching around for food is quite normal.

The professional middle classes and intellectuals have already left but no doubt are finding life tough. They are all hardened to living in discomfort and uncertainty either way.
Russia are going to be testing the mettle and resilience of westerners this winter. This is a well planned war against the west many, many years in the making and the execution is imminent. We are at war. A war by proxy and things are just about to become harder for all of us collectively. We have become far too complacent and comfortable for too long in the west - taking it for granted and hooked on an endless wave of cheap energy, food and commodities. I agree those with experience of true poverty will find it easier. It will be interesting to see where we are this time next year.

There may a recession looming but I don’t think it’ll be like the 2008 crash.
Lots of people lost their jobs then.

There’s a massive labour shortage and many job vacancies. It’s not getting the jobs that the main problem, it’s the pay and cost of living.
So I don’t think it’ll be the same as the 2008 crash where jobs went overnight.

The other thing is- the Tories were a one trick pony with Boris. Get Brexit done. Lots of first time voters for the Tories only did so because of Brexit and Boris himself.

Things have changed. We’ve left the EU and Boris has gone.

What can the Tories offer now? The only thing they will offer is tax cuts to big businesses.

I don’t understand why the ordinary voter would vote for the Tories again in the next GE. Can anyone tell me why?

It will be different, but just as bad in my view. Hard working well paid professionals may struggle to pay the gas bill for the first time. It’s going to be short term but hard going.

In one single word: Kemi

Is this a joke? Sir Keith save us. Sir Keith has had years to ride to the rescue but all we can hear is radio silence. No policies, no plans - nothing of any substance whatsoever. It’s a pipe dream sporty. I am actually wondering if he is being paid to be so bad…literally there is no opposition to speak of in the U.K. currently.

Kier and it Keith obviously! But it rather make s the point we know nothing about him

We don’t need to know anything about Starmer, I think we’ve all had quite enough of personality politics. What we do need to know about are Labour policies which he’s currently very wisely keeping close to his chest having seen Sunak steal the windfall tax policy.

He doesn’t have any policies! Honestly the deluded desperation on here was

The tories are all about disaster capitalism. Their ideology is to bring public services to their knees in order to prove they're untenable so the6 can sell them off to private companies for profit. Making money and dumping any notion of social responsibility is the name of the game. Liz Truss is just the latest stupid puppet in a long line of distractions.

She had an affair with Kim Kardashian? Wooh! Now that is news!

I love the optimism. "It's not going to be that bad"

It's going to be worse than any of you could even imagine.

NeuConnect gives me hope, but I bet not one of you knows about it?

I never had Kim Kardashian down as a masochist! 😵

Add another K though, and I think we've got who Truss would potentially bed down with.

Mind you, if Germany can't get its supplies from Russia, it will be Britain's biggest white elephant to date.

I did see a headline that Kier was announcing some 20 billion proposal or something a few days ago, but I'd rather read War & Peace than whatever nonsense shite he's peddling.

A leader needs to lead. He's not a leader. Truss is akin to some of the worst leaders in history and that other fella whose name escapes me, the finance dude, I'm not sure that he's necessarily a leader either. Sajid Javid would have been the best bet but I'm pretty sure he either didn't run or he fell off the horse early in the race lol.

When I say Kier can't lead, in order to lead, you need people to want to follow you. He can never do that. He's possibly a very nice person. But fuck me, if it Boris and Kier at school, picking a team for baseball or something, I'd die if Kier picked me as I'd want to be on Boris' team lol!