Can’t think this will encourage collaboration with Russia in the future.
“The September rout… represents a profound international humiliation for the Russian armed forces.”
“In the first days of the counteroffensive, the liberation of towns by Ukraine occurred so fast that maps of the frontline were obsolete within hours. Images of abandoned tanks and arms stores (now available for Ukrainian use) were seen around the world.”
Britain and the US are poor societies with some very rich people
In 2007, the average UK household was 8% worse off than its peers in NW Europe, but the deficit has since ballooned to a record 20%. ft.com/content/ef2654…
On present trends, the average Slovenian household will be better off than its British counterpart by 2024, & the average Polish family will move ahead before the end of the decade. A country in desperate need of migrant labour may soon have to ask new arrivals to take a pay cut.
Norway fared highly at both ends of the spectrum with their wealthiest very wealthy but the poorest 5% were the best off in the world in that 5th percentile group, with Switzerland not far behind.
Sterling sinks to lowest level since 1985 as recession fears mount | Financial Times
The £ dropped 0.8% in morning trading in London to $1.137, the first time it has breached the $1.14 mark in almost 4 decades. ft.com/content/e8f0dd…
”The move reflected broad strength in the dollar as well as particular concern about the state of Britain’s economy. Sterling was off around 0.4 per cent against the euro at €1.142, its weakest level since early 2021.”
The quantity of good we purchased fell by 1.6% but they cost 14% more than Feb 2014 due to rising prices.
“The downward momentum is gathering speed…we are already in economic recession.”
Absolutely scathing (deservedly) from @Simon_Nixon
“It is hard to avoid the suspicion that what really lies behind the Truss government’s assault on the Treasury is embarrassment at the economic consequences of the past 12 years of Tory rule.” thetimes.co.uk/article/the-di…
“The disappointments of Osborne’s chancellorship are nothing compared with the failures of the past six years. Truss talks repeatedly about her plans for supply side reform…”
“…apparently oblivious to the fact that since 2016 the Tories have presided over the most radical supply side revolution, albeit almost entirely negative, in recent history.
Trade barriers have been erected with Britain’s most important trading partners.”