Conference ends. Truss at a twisted podium paints #TheGrowthPlan in more, unconvincing detail. @Conservatives turned into a pale, English version of MAGA neocon extremism. First they were infiltrated by the Brexit Party, now they’ve been taken over by UK followers of a US elite.
It’s as if the UK economy were a plaything for a right-wing experiment, enacting tax cuts and deregulation, attacking the woke, politics as entertainment. They don’t need any data or economic expertise. They know it all. Disrupt and hope for the best. #PostTruthEconomics
The UK establishment has been systematically undermined and damaged by these neocons grabbing the levers of power. Whitehall mandarins sacked, mocked, or broken. Lickspittles promoted as negotiators. The unwritten constitution tested and twisted to malign ends. Brexit. Clowning.
How has this desperate state of affairs come about? It started at the apex of the #GreatFinancialCrisis, when the then PM gave in to the bankers, and agreed to bail them out rather than face them down when they threatened to close the ATMs. Private profits funded by public debt.
The rest of the world also gave in to the financial elite, bailing them out, agreeing to their schemes, rewarding them with political posts & honours. No bank director went to jail, except in Iceland. They had already successfully neutered the bankruptcy laws to suit themselves.
#Financialization was temporarily weakened by the 2007-10 crisis, but recovered, strengthened by new stress tests. The sector has become comfortable by infiltrating the Tory party in the UK to manage the state. Money & politics should not mix: ethical behaviour goes missing.
The UK Chancellor is much too close to financiers. They met before #budget2022, & now he is meeting them today to discuss mortgage rate turmoil. Caused by him! Utterly disgraceful. The govt. should be reducing uncertainty & chaos, not causing it. Power & ignorance also don’t mix.
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