The markets have taken back control: so much for Truss’s Brexit delusion of sovereignty. By Jonathan Freedland ,of the Guardian Hard to believe now, when we’re in the middle of the maelstrom, but one day this too will be the past. And when it is, when we’re out of the hourly psychodrama – no longer staring at the screen, watching Kwasi Kwarteng’s plane do an actual U-turn in the sky en route to his being fired on touchdown, for the crime of doing what his boss wanted him to do – it may not look all that complicated. Historians will look back and see a point of origin to the current madness, one that explains how a new prime minister could see her administration fall apart in a matter of weeks, even if we struggle to name that cause out loud right now. When the textbooks of the future come to the chapter we are living through, in the autumn of 2022, they will start with the summer of 2016: Brexit and the specific delusion that drove it. Read more
This article is completely wrong , it is Gordon Brown who clearly and unequivocally laid the groundwork for this crisis, not Brexit!
Liz Truss may eventually turn out to be the worst PM ever, but at the moment , as the person who’s policies when Chancellor exacerbated the so called ‘Global ‘ Financial Crisis & were responsible for the worst financial crisis ever to hit the UK, very nearly bankrupting the Country , and especially by stealing over £10 billion a year from British Pension funds , ruining the pensions and aspirations of millions of people, not only by reducing the value of the Pension Funds but directly by his theft, the ensuring the demise of Final Salary pensions.
The result was / is that the pension structure is very much higher risk and very reliant on the ‘ market’ and on the whim of traders, hence when they look to unload gilts , in order to profit from the sale, pensions ( amongst other things ‘) suffer ,and to put it simply, the mini budget made them wet their silk pants , dumping gilts and reducing the value, instantly, of pensions, which is why the BofE stepped in to save the pension s of millions.
So the Chancellor was the one person who upset the red bracers brigade in the city, with them fearing having to drink Liebfraumilch at lunch rather than Moët, but
Gordon Brown, I repeat, Gordon Brown stealing £100 billion from pensioners and removing pension safeguards was the root cause of the threat to pensions!
Not a Brexiteer in sight