AIBU to consider the Tory government have lost the plot?

[Diamondsareforever123]

I truly don't understand why Truss et al have created this economic mayhem when we were just dipping our toes into a recession! Is it simply Tory ideology - to make the rich richer? Or is it some dark plot to bring back Boris to save us all? It's obvious that Truss has no understanding of economics and is a nasty piece of work, so why was she voted in as PM? Sunak would have been better? I mean what do people here think is going on with this government. I've never been a Tory by the way, can't stand them.

The idea is to get the economy going.

The idea is to be 'forced' into cutting spending on public services. It's not losing the plot- it is the plot

by trashing mortgages, pensions and sterling.*slow clap

www.ft.com/content/9d2005ba-8f5a-4e60-a980-92dd7c64689a Uk pension funds suffering problems with liquidity and this is after a 66 billion bail out.

I think the Tories are just exposing themselves. This is what they truly are. People never cared what they did to the poor but now that its affecting richer people and middle class people, people suddenly give a damn.

Do genuinely think we will need an IMF bailout at this rate. It is a good lesson for us all.

Ah yes, getting the economy going by crashing the pound- in the same way taking a baseball bat to the knees encourages taking up running as a hobby.

I don't think the core Tory voters who voted for Truss were ready for an ethnic minority PM even though Sunak has been proved to be right. I'm not a Tory but Sunak would have done a much better job. Truss and Kwarteng are really out of their depth.

The £ had bounced back this morning after the stock market gamblers had made an obscene amount of money yet again. I was shocked at the reduction in income tax because I don't think that will help small businesses. I can't see any upside to be honest. With our energy bills, fuel bills it's going into very few companies anyway

Interest rates have been rock bottom for years. Which was good in some ways for people wanting to buy houses (although it did force house prices up too which isn't good). But low interest on borrowing meant low interest on saving, which resulted in savers often putting their money elsewhere (such as being landlords where they could get a better return) because their money wasn't earning anything. Low interest on borrowing has created a vicious circle which hasn't actually helped anyone.

I was surprised that interest rates on borrowing was forced to be so low for such a long time. If they had been gently raised years ago, it's likely there would be more housing stock as less buy to let landlords, and house prices wouldn't have been forced up through high demand and easy borrowing.

I do feel very sorry for those people who are stuck with overpriced housing and big mortgages that are set to rise. It's a dreadful situation.

Because Trickle down economics works so well.

Why did the MPs put Truss up at all though? Mordaunt seemed far more sensible. Her and Sunak are at least adults, one of them as PM and the next election was still winnable for them.

Mordaunt can't define what a woman is. It's hardly going to go down well with female voters. And Green card Sunak played a big part in unseating Boris in order to go for his job. And found that ruthless level of self interested disloyalty didnt stack up the majority vote for him from the members.

I think they're mostly clueless and haven't got the faintest idea how much of a challenge most people are facing. I think they assume most people have plenty of savings, overestimate how many people have stable, well-remunerated jobs, and understimate how much of people's income is taken up with rent, mortgage and childcare.

I think their intention/theory is:
a) Make the UK a more attractive place for big business and wealthy people (by low tax rates) so that they invest here (or at least don't remove their investments/businesses due to high costs of other things). I think the approach to energy costs is part of this- effectively using public money to fund the cap rather than expecting the energy companies to take any of the cost, making it clear that they will put the profits of big business before anything else
b) Reduce employment rights and state benefits for working people so that people have little choice but to accept long hours, crap pay and crap conditions- helping big businesses make more profit (see a).

c) Reduce public spending on anything other than keeping big business/wealthy people in profit (see a and b)
d) Leading to a country where big businesses and wealthy people flock to have homes, investments, operations as they can basically do what the hell they like. So there will be lots of wealth in the country (even if badly distributed)

Even if successful I think it's shit. But they seem to have forgotten that the people this will please are a small proportion of the voting public and that investors don't like uncertainty. So point a) is unlikely to work. There are lots of places in the world with very very low tax rates for big businesses and wealthy people, and few rights/support systems for working people. They tend to have high levels of poverty, problems with crime etc. I don't think we should aspire to be one of them

Women are split on the issue anyway, if they weren't then no politician seeking office would go against it.

It's just not going to be a key issue at the election given how much the shit if hitting the fan. People are worried about keeping a roof over their heads and having enough money to buy food, heat their homes or keeping their pension.

I think it will be a key issue. Unless labour actually speaks up for women's sexed based rights. But time will tell.

Exactly this.
They're going to cut benefits and who here will be surprised if they use this as a chance to cut the NHS down so much that it is like dentistry?

They'll have 'no choice ' because of the black hole.

Look at this graphic to see just how big £45 billion is: kamikwasi.tax/

Going right along as planned.

Sovereign Man and Britannia Unchained

Sovereign Individual

Ironic seeing as Truss will say and do anything to further her career and ambition. Why else has she gone from lefty activist parents, lib demmer, Remainer then hard brexiteer and extreme right winger? 🤔 How is it possible to flip flop so extremely?

I've got the sovereign individual in my Audible. Is it worth a listen to try and understand wtf is going on?

I don't think they've lost the plot....I think they're just not very nice people!

Bollocks is it.

It's to slash the welfare state. To shit on the NHS, the DWP, and the Oxford comma.

Well it looks like the objective was to ruthlessly divide rich and poor …? To crash the NHS… to make sick disabled and unemployed take the brunt of cuts

plus ça change…

only this time middle England is fucked and suddenly the Tories don’t look so appealing to those who voted for them (certainly not me).

Disaster Capitalism is the aim…

It’s quite clear they have no idea what they are doing. I’ve not heard any economist or political commentator left or right, publicly come out and say they agree with it. Half the Tory party won’t agree with this. And that’s saying something. They make May’s premiership look excellent and Boris look like your friendly bumbling uncle. So it’s either ignorance (I think this is the case with Truss, totally out of her depth in every sense) or she might be a complete psychopath . With Kwarteng I think it’s probably corruption at the core. He’s been having lunches with his ex boss who incidentally has made millions by the crash of the pound. Stinks. There are no more cuts to make. Even rich white male Tory voters don’t benefit from the nhs collapsing, far from it. Exactly the people that need it after their diets of gammon. All this talk of millionaires using private healthcare so not needing to pay taxes. Who do you think saves you if you have a heart attack?

You only have to look at chancers like Truss, Rees Mogg et al to realise they are not very bright and have not yet realised they have been rumbled by the public. They are sadly rich, privileged and vain enough to not care. They are ploughing on with more extreme ideology such as flogging off what is left of the NHS. The rest of our infrastructure is already decimated.