Current Affairs Liz Truss

[orchard]

A former rate-setter at the Bank of England has said investors should bet against sterling as he accused Liz Truss of pursuing “gagaland” economics.

David Blanchflower claimed the new prime minister was pursuing “disastrous economic policies” and said that “I have never in my 50 years of doing economics seen anything as bad as this”.

His criticism of Truss, in a series of posts on Twitter, came after the prime minister suggested in interviews that her government would go further in cutting taxes than previously indicated. The government will set out its approach to fuelling economic growth at a mini-budget on Friday.

However, Blanchflower claimed that Truss was doubling down “into gagaland”. He told his followers on Twitter to “short the pound”, which has already tumbled this year as investors’ concerns grow about the outlook for the UK economy.

 

[Bruce Wayne]

They'res been a constant drift in politics not just in the UK towards the right for 25+ years I'd say, to the extent now across the world most parties in power and the nearest opposition are center right verging on the borders of far right these days (I'm kinda using it from a benchmark of Atley as socialism and a Heath as centre right benchmark)

Modern day Atkey would be labelled communist almost by the media and Heath portrayed as a wishy washy liberal.

Increased power of corporations and media being controlled by several megacorps by and large has led to that in large part

That just goes to show how expectations have changed. In 1949, when the NHS was created, government spending was 38% of GDP and NHS spending 3.3%. Fast forward to now and government spending is just under 45% of GDP, with the NHS consuming around 10% of GDP. Yet Attlee is a socialist hero and governments today are depriving the NHS of money and are more right wing than Hitler. Incidentally, social security has also tripled as a % of GDP since Attlee's time as well.

 

[Rita_Poon]

That just goes to show how expectations have changed. In 1949, when the NHS was created, government spending was 38% of GDP and NHS spending 3.3%. Fast forward to now and government spending is just under 45% of GDP, with the NHS consuming around 10% of GDP. Yet Attlee is a socialist hero and governments today are depriving the NHS of money and are more right wing than Hitler. Incidentally, social security has also tripled as a % of GDP since Attlee's time as well.

The second part answers the first, life expectancy in 49 was? compared to say 2020? All these old dears aren't swinging a pick down the mines daily...

 

[Bruce Wayne]

The second part answers the first, life expectancy in 49 was? compared to say 2020? All these old dears aren't swinging a pick down the mines daily...

Indeed, in Atlee's time, the retirement age was 65, with life expectancy then around 66 for men. Today the retirement age for men is 66 and life expectancy a whopping 81. I "suspect" any government proposing that the pension age be lifted to 80 would be regarded as barbaric, and yet that's what our good old socialist hero had to contend with. Even back then though there were disputes over just how right wing Labour was being

The National Health Service Crisis, 1951

The NHS had been established by the post-war Labour government in 1948. By 1951, there were already heavy pressures on health spending. In addition, after the Korean War broke out in 1950, Britain decided to rearm. In his budget, the Chancellor, Hugh Gaitskell, sought to balance his budget by...

www.gresham.ac.uk

 

[sbbefc]

Indeed, in Atlee's time, the retirement age was 65, with life expectancy then around 66 for men. Today the retirement age for men is 66 and life expectancy a whopping 81. I "suspect" any government proposing that the pension age be lifted to 80 would be regarded as barbaric, and yet that's what our good old socialist hero had to contend with. Even back then though there were disputes over just how right wing Labour was being

The National Health Service Crisis, 1951

The NHS had been established by the post-war Labour government in 1948. By 1951, there were already heavy pressures on health spending. In addition, after the Korean War broke out in 1950, Britain decided to rearm. In his budget, the Chancellor, Hugh Gaitskell, sought to balance his budget by...

www.gresham.ac.uk

Not quite the same is it. Child mortality rate was ten times as high as it now. Quality of life declines massively at 65+ whether its today or in 1949.

 

[Bruce Wayne]

Not quite the same is it. Child mortality rate was ten times as high as it now. Quality of life declines massively at 65+ whether its today or in 1949.

No, of course, I'm just saying that what passed as acceptable socialist behaviour then would be classed as the height of Toryism now.

 

[Goat]

 

[Rita_Poon]

Should have told them to shove it when they had the bare face to send donny 'the tax deal' trump here!

 

[Goat]

Should have told them to shove it when they had the bare face to send donny 'the tax deal' trump here!

Its gonna be a long 2 years till we can get these bellends out.

 

[Rita_Poon]

Its gonna be a long 2 years till we can get these bellends out.

They're gonna stretch it out so it feels like the previous 12. Grim times indeed, and just in time, they pull all the loose cash in just as the banks offer them some interest rates. The rich get richer and leveling up is that of the gutter to the sole of a drifters shoe.

 

[Bruce Wayne]

Should have told them to shove it when they had the bare face to send donny 'the tax deal' trump here!

We'll just leave @tommye 's finger on Biden's pillow. That'll show him.

 

[Rita_Poon]

We'll just leave @tommye 's finger on Biden's pillow. That'll show him.

Have em chat to odders, he'll make em an offer they'll never get to the end of...

 

[tommye]

We'll just leave @tommye 's finger on Biden's pillow. That'll show him.

I'll have to scrape it out of the guard on my skillsaw first mate.

 

[Walken]

It's simply one last cash grab for shareholders, bankers, lobbyists and anyone else in the tory trough. Truss will be out of the job in two years but well rewarded but the pain inflicted on the nation in that time will catastrophic for the vast majority. Shame on all who empowered this government

 

[Bruce Wayne]

I'll have to scrape it out of the guard on my skillsaw first mate.

Truss loves her pork markets so won't mind the state it's in.