Is there anything to read on what exactly Liz Truss did?

[Floppysock]

to crash the economy and why it happened the way it did?

It's often said "they're all the same/all as bad as each other" or similar and often it does seem that way, but clearly not because her actions has such a vast, fast and devastating effect.

Well all the news articles from September 2022 I assume?

she announced untested, unplanned for and unfunded tax cuts

markets got spooked

perhaps it’s easy to scapegoat her now as markets weren’t spooked for that long and high interest rates are a result of longer standing inflation caused by macroeconomic factors

I just find it fascinating that ( I think) she did exactly what she said she'd do and created disaster in a matter of days.

I know nothing. 🤐

Yes, that was the problem!

It was widely reported at the time, just Google it and read a serious article.

She was warned what the outcome would be.

I think her Chancellor bears some responsibility.

The Liz Truss debacle is something I give the Tories some credit for. They went off the rails and pulled back in the space of just a few months. Political failures usually last much longer and cost much more. Politicians are defensive about big, costly mistakes precisely because they spend a lot of time and money making them.

There were no lasting effects, so saying she crashed the economy is a bit exaggerated.

https://www.newstatesman.com/politics/morning-call/2024/04/liz-truss-is-right-about-the-deep-state

I have read that the bank of england couldn't believe its luck that truss got all the blame when they were also culpable.

Presumably the Conservative party members who made her leader were also warned?

The Rest is Money podcast did a good series about the whole episode a few months back

You're right that she did exactly what she said she'd do - she said she would cut taxes, and she did cut taxes. This is based on the "trickle down" theory of economics, i.e. you favour the rich, and the benefits trickle down to poorer members of society because the rich then have more money to spend on goods and services. However, this theory is not generally considered to make good economic sense, and the markets reacted in a strongly negative way. I guess the fact that she'd warned us what she was going to do, didn't make it the right thing to do (especially as she was only voted for by the conservative party, not the electorate as a whole).

Presumably the conservative party members were too busy licking their lips at the idea of lower taxes that they didn't consider the wider economic impact.

I personally think it was done purposely only thing that makes sense to me . To push rishi forward and / or make money for those with insight. Don't think mistakes like that could happen genuinely

The right wing press went all out to get her elected because of the promise of tax cuts. They praised her, 'At Last, a True Tory Budget' etc etc.

Rishi told her what would happen at the leadership debate.

The membership were money-grabbing idiots who had been warned, but voted for her anyway.

This is what interests me. Who made money from everyone else's disaster and if that was all part of a plan (somewhere/somehow, not necessarily Truss) or whether it was all pure incompetence.

Was going to say this too. There was a financial complication she didn't know about that made it worse. It was always going to suck.

Leading podcast also did a piece with Kwasi Kwarteng a while ago that goes into it.