So it seems Brexit has been a failure. https://www.theatlantic.com/ideas/a...gns-brexit-conservative-party-failure/661514/ More important, Brexit, the solution to the problem Johnson and his supporters described, was based on a series of lies. The electorate was promised that departure from the EU would lead not only to fewer immigrants but to greater prosperity, more welfare spending, less crowded hospitals. Instead, six years after the vote, Britain is less prosperous and more unequal. Brexit reduced the U.K. GDP by at least 1.5 percent even before it took full effect; the U.K. has the highest inflation rate in the G7; small businesses, especially importers, have been crushed by Brexit-related red tape and supply-chain problems. Though committees have been set up to look for “benefits from Brexit,” few are available. Brexiteers instead crow about the British vaccine campaign or British support for Ukraine, both of which would have been perfectly compatible with EU membership. Of course, Brexit is not why Johnson has now resigned, or why his cabinet melted down, or why his popularity plunged. But it is an essential piece of the backstory. If British politics were a Faulkner novel, Brexit would be the long-ago tragedy that haunts all of the main characters, even if they hadn’t been born when it happened. Why did a story about a jolly drinking session his cabinet held during COVID lockdown do so much damage to Johnson? Partly because he was already suspected of dishonesty about Brexit, and “Partygate” reconfirmed the image of him as a liar. Why did his Conservative colleagues ultimately decide not to remove him as prime minister when they voted last month? Partly because Johnson is so closely associated with Brexit that a rejection of him looked like a rejection of Brexit, the policy that the party still claims as its greatest achievement. Why are Conservative and Labour politicians alike shocked by his admission that he met a former KGB officer, now a wealthy oligarch, at a private party in Italy while he was still foreign secretary, with no other officials present? Partly because the role of Russian money and influence in the Brexit campaign has never been fully explained.
Prince George Sweltering in a Suit Is All the Justification Prince Harry and Meghan Markle Will Ever Need https://news.yahoo.com/prince-george-sweltering-suit-justification-091944094.html
Nah, they covered it up with backstops of taxpayer money and still think Mexico will pay for their big fat L's. Obviously we need even more Brexit cuz MGBGA Makes Me GagA.
I was pretty sure Brexit was going to be a disaster for the UK, but the scale and speed of the disaster (big assist to Climate Change! Does it exist yet @MojoMan @basso @Os Trigonum ? ) is pretty amazing. Uk seems generationally ****ed (though, i guess they could try to sell everything they have left to the saudis). 18% inflation, blackouts, food shortages - what a cluster ****, and they don't even have a real PM! Politics is dominated by an incumbent party who have ruled, except for a 13 year period (during which they were replaced by the Tory-Lite regime of Tony Blair), since 1979—43 years of conservative policies. They're completely out of new ideas, but the next leader of the nation is intent on recycling the same tired nostrums indefinitely, using an astroturfed culture war on wokery as cover rather than trying to address the deep structural problems of a state that has been hollowed out and looted for half a lifetime, so that there is no resilience left in our institutions. This is the sort of crisis that brings down nations. Seems like V for Vendetta stuff
Things have changed a bit since there aren't guarantees there EU can come out this winter without losing some bits and fingers due to frostbite. I lived in Germany around their first Eurozone crisis (I think this is it's third?), and it will be particularly different as no one is the bellwether this time around. It's a very odd situation where countries heavily in debt or weak depression like PIIGS countries should be allowed to leave to rebalance their finances while Great Britain needed to stay since it has corporate and financial institutions that need low tariffs and easier access to capital. I guess the blue collar **** MAGAts and Leavers wanted will be there to "pick up the slack" but who are the Brits fooling in thinking they've exported any manufactured brand of value over the past thirty years? Still overpriced relative what the market expects, but it made a Great Commercial.... What it really did was cripple London as a financial capital across the pond even though no one wants to deal with German firms like DB with a ten foot pole.
Fox Biz....Wow. Posting for posteriy. Tax cuts are fine...but you better figure out how to fund it! Cut spending, cut everything because if you run up debts while Europe is melting down for winter, no one will buy your bonds! It's not only Soros...Free Market Cons won't hold your shitty bags either! How ****ing hard is that for an average viewer to understand even when these lizards are gaslighting the **** out of you?
I really don’t get the rationale behind the UK cutting taxes and the Bank of England buying debt at a time of high inflation.
Conservatives are giving the top 1% a great-big-o wet sloppy kiss, since Brexit turned out to be such a turd sandwich. If the top 1% is not happy, no one can be.
Because the Tories still act like they're in another era. In the US, Republicans can get away with insane deficits and tax cuts because there's always a market for dollars so deficits don't really have much of a consequence. A lot of Tories live in an imperial fantasy and think that the Pound behaves the same way but this crisis (just like previous crises) has shown that the Pound is just another currency rather than having the special status that it once had 150 years ago. As for the Bank of England, they're buying up debt to bail out pension funds that hold UK bonds that have lost up to half their value on the open market. It's a backdoor bailout to prevent a pension crisis that has been created by the government.
Everything must go in Europe. A firesale in that sense won't keep houses warm though,,, Folks here better hope its not foreshadowing for November like Brexit was for Trump.
Well the good news is that the Tories might destroy the GBP so thoroughly that the UK will have to rejoin the EU in order to adopt the Euro. Oh and if the election was today, Labour would have the biggest victory in modern UK history. This would be so bad that the SNP would probably form the official opposition
Will the Euro survive winter? Half serious question. Germany's yield curve inverted, and folks at UK aren't really repudiating conservative moments but rather inflation and their economy tanking. This and Meloni are likely signaling an anti incumbency wave at the heels of what seems to be a costly and unproductive winter.
Not a surprise. The UK is going through all sorts of issues yet one of her first moves is a Trumpian declaration to move the UK's Israeli embassy to Jerusalem
