- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
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She’s right, that’s not funny. I’m still paying a stupidly high mortgage rate because of her.
But pranking her like this and watching the reaction, is indeed really funny.
What did she do to make people’s mortgages go up?
https://www.youtube.com/watch?v=0CswZ8Fbl80
Here’s a short video summary if you’re interested in some hilariously fucked up UK politics.
The first 45 sec of the video will set the stage for you.
So, this minibudget included tax cuts, coupled with a massive increase in government spending, which then caused the currency to devalue. Still don’t fully understand how it got this bad, though.
The tax cuts were huge (billions). She didn’t increase spending, but didn’t decrease it either; so it would leave a huge hole in government finance that would require massive government loans. The “market” freaked out. The pound and UKs credit rating plunged. The main crisis became the gilt market crisis (which was a catastrophe for almost all pension funds and the economy as a whole). This itself is well explained here:
https://www.youtube.com/watch?v=5-FdX0djxAE
(In case you haven’t noticed, I think TLDR news make absolutely fantastic videos and would recommend checking out their videos if you are interested in high quality news).
Thanks, but how did the pension funds hedge against interest rates in a way that they had to pay up when the interest rate went up?
I have no idea man. My knowledge extends as far as that video. After watching “The Big Short”, I’ve learned that there are a lot of ways that finance bros play the economy in ways that we cannot comprehend.
Good movie
My hypothesis is that they put the gilts up as collateral so that they could borrow money to invest. So, interest rate goes up, and the value of existing gilts goes down, because why buy a gilt with 1% interest when you can get a new one with 2% interest? Pension funds need to add more collateral to their accounts, because the gilts became less valuable.
Thanks. I’ll check it out in the evening.
Tried to force through a budget that brought the UK within hours of a greek style total economic collapse until the bank of England stepped in to unfuck things because it was just going to be that bad if they didn’t.
The problem with Truss is that she has nothing to fall back to career wise for the rest of her life. Apart from that outrageous PM pension she has nothing to do to pass her time. Because anytime she wants to get even loosely involved in politics, the lettuce will remind her of her last attempt. And I’m absolutely fine with that 👍.
If it makes you feel any better she doesn’t get that pension https://fullfact.org/online/liz-truss-annual-allowance/
This makes me feel better that she isn’t getting any more public money and also sad that we can’t take the piss out of her.
We can’t?
Sorry, I mean we can’t take the piss out of her for taking a PM’s pension.
Meh, I think there’s plenty of piss to take already. I’m glad we get to keep the money.
Sadly she has a long string of speaking gigs. Her and Boris charge a premium for it.
Boris was at least a “journalist” (heavily finger quotes there). I’m not sure what Truss is apart from a political hack?
She was pie minister
Perhaps you should get a PR position for the pork distribution market?
It’s all she can do. She could try to parlay her political experience into management or consultancy, but it’s clear to everyone that she was ultimately very bad at everything except climbing the greasy pole to the top of an organization full of unpleasant weirdos. Once she had the responsibility to lead in the wider world, she revealed herself as clueless.
What I learned from this article:
- Liz Truss has no sense of humour
- Liz Truss is intimidated by a picture of lettuce with googly eyes.
Why are far-right people so fucking weird?!
Why are far-right people so fucking weird?!
I think it’s just the reverse. The really weird ones think that far-right policies have any mass market appeal.
It’s not like a well compensated, prestigious job like prime minister requires accountability, a sense of duty or decency in 2024. Take it on the chin Liz, even if you’re fired. That was part of the deal.
to the delight of us all
It’s mad that our cast-off politicians and celebs can be proven failures (Truss, Farage, Corden, Morgan etc) and the yanks will still roll out the red carpet for them because they think our failure cast-offs have an air of sophistication about them.
Well, it was founded on a lot of Europes rejects….
The only one that hasn’t made the move is Jeremy Clarkson.
Clarkson is literally doing more to help farming in Britain than anyone else
If I was her I would never wear green again
I think she was in on it for the publicity. She was even wearing a matching dress. She would probably call it a frock though.
i have come to terms with the fact that conservatives have no shame or pride and they’ll weasel in and out of every opportunity to make a cent more.
but i don’t understand how you bring out your 4.5-scaramucci-ass joke of a presence to any venue and not only be surprised that people make fun of you but you get all pissy about it and fuck off as if you have any dignity? too late truss, if you had any dignity you would dig a hole and stay in it until you die.
Lizteria. Is that Lettuce hysteria?
When you are an asshole and an idiot at the same time and get treated like one - don’t be that surprised, Liz. The Lettuce was your boss level monster, and you lost. And now it made you run away from reality again.
All I can say is Go, Lettuce Go!
I kinda feel bad for the interviewer if he had nothing to do with this
He made the decision to deliberately be in the same room as Liz Truss while she was going to be speaking. This is on him
