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?

You can read the economist and FT yourself I assume. It’s not hard to do. The economy is in reasonable shape and the issues we are experiencing are largely to do with the pandemic and war.

I know and people are simply blocking their ears like a child and going 'na na nah nah, I can't hear you'.

That’s rich from someone basing their economic forecast on The Telegraph! I’m perfectly capable of accessing information from a variety of sources, processing it and assessing the likely results for myself through the prism of 50 years experience of the economy. I’m certainly not swallowing more promises of sunlit uplands.

It’s the worst in the civilised world apart from Russia. You’re deluded.

Thats fine Festoon if you have no examples to share then.

Meanwhile, BBC reports:
UK inflation could hit 18% next year, Citi warns
www.bbc.co.uk/news/business-62634795

I thought that too, but apparently it's not the done thing these days. Assassinating leaders. Who would do that? 😁

@Festoonlights What "solutions" to the wholesale price of oil and gas will be in place by spring? Get real. Sadly what will lower the price of energy is a massive global recession which is well on its way.

We ploughed ahead with sanctions on Russia when everyone could see that we are not really in a position for negotiation. Jesus. I honestly think that some people have not got a clue what is going on.

I thought that the US didn't negotiate with terrorists? They've negotiated with Putin!?

The US have openly paid kidnappers in Haiti for example there’s never been no negotiation policy.

Source?

We bomb the fuck out of places that we have no business in bombing. Putin can fight back, so now we're all moralistic?

www.latimes.com/world-nation/story/2022-01-06/some-ransom-paid-missionary-hostages-haiti?_amp=true

It's bloody ridiculous how very much we are victims of utter propaganda here while thinking that we're well informed and neutrally informed. It's actually unbelievable how fucking utterly programmed we are.

That's not a government.

In Russia, all Western media has been cut off. Can one of us say that we have ever read Russian media? Have we ever listened to any other side than the side of our leaders?

Time to toughen up buttercup and get a job blossom, you have a million or so vacancies to choose from!

It absolutely is a government. It is in fact the US government who quite openly pay randsoms, via “the family” of somebody who was dirt poor last Thursday managed to come up with US$150,000 🙄

And actually I don’t think Putin is wrong at all obviously the loss of civilian life is awful but he’s got a bloody point.

What makes you think I need a job?

I have watched RT extensively and it is incredible to listen to ministers and officials talk about ‘erasing’ Ukraine from the world map as the presenters nodded on.
How is the weather in St Peter’s today dalint? Still hot under the collar?
I wonder how the loss of 44.000 very young men feels to Russia today, and if reclaiming the vague notion of the imperial motherland still feels worth it with no end in sight.

You are on here 247

What’s that got to do with needing a job? Am I pleading poverty?

Er yes, you are constantly doom mongering blossom. You are not on here encouraging people to get jobs/2nd income streams and solutions. You are constantly moaning on this thread (and others) all of the time. Are you not aware of that?

Talking of solutions we are yet to hear your solution to this problem?

2nd jobs are a good idea in normal times, problem is the recession will probably erase the surplus we have currently. Unless you believe there won't be a recession?

As for the govt and what they can do, I've worked out that based on energy prices staying elevated beyond the Oct 2022 cap till at least Jan 2024 (and that might be low balling it based on current futures market) the govt would have to spend something like 200 billion at least to protect the consumer and businesses. That might be on the low side if support is needed again in winter 23/24 and prices are anything like what the futures are currently suggesting.

Even then it WON'T stop the rises totally so a recession through demand restriction AND interest rate rises are still likely. My idea was based off of them bridging the gap between what Rishi was going to give and the extra increase of nearly 800 over what was forecasted for October. It does not include Truss 30-40 billion giveaway on taxes.

Reality is so tiresome, isn’t it?