Oh I won’t ignore you. You wont get off that easy.
This makes your statements completely false. As usual.
She immediately put in austerity and deep tax cuts.
She is raving mad till this day. How she ever got elected is amazing. Can people hear crazy when it is presented?
Are you having a bad day Leap 
I still think that Andrew Bailey was involved somehow.
Nope. US 2024 election is irrefutable proof.
I suspect that the UK problem stems from a lack of widespread productivity. And that may even have roots in the social structure. When the UK was still an empire, even a fading empire, they had massive productivity multipliers in the various colonies. And even after the colonies were independent, they still had quite a bit of ownership there. But that slowly faded with time. You can only rely on external productivity growth to a certain extent. The social structure had “royalty” and everyone else. I don’t mean literal royalty, but rather anyone who maintains strong ownership of something that employs the rest of the folks - basically people who live on investment income, and the rest of the folks that live on wages.
Now, the UK is pretty much “rich London” (and mostly productive London), and everyone else “poor”, many living in council flats or other lower level style of housing, and most living in areas where even if you were the productive type of person, there aren’t many jobs available in which you can excel and thrive. So, of course, the most productive-bound people head to London (or elsewhere).
No the bond market looking a policy to reduce gdp growth while reducing taxes decided the UK could not pay her debts
The 30 year UK gilt yield rose to 5.1% on October 12th 2022 when Liz Truss was in office. I think that it closed at 5.27% last week.
The current UK government is basically now trying to do what Liz truss threatened – cut out all the Quangos and bring the civil service under control. Good luck with that.
BTW neither the US or UK government can pay their debts - classic Ponzi schemes. I’m awaiting our ‘1976’ moment.
You said the secret word.
Steve
Not after you read his essay! Pretty compelling argument that we are close. Some excerpts:
“ …it can be said that a generation ago all Western countries could still be described as to a large degree cohesive nations, each with a greater or lesser sense of common identity and heritage. By contrast, all now are incohesive political entities, jigsaw puzzles of competing identity-based tribes, living in large part in virtually segregated ‘communities’ competing over diminishing societal resources increasingly obviously and violently. Moreover, their economies are mired in a structural malaise leading, inevitably in the view of several knowledgeable observers to systemic collapse.”
And:
“The relative wealth, social stability and related lack of demographic factionalism, plus the perception of the ability of normal politics to solve problems that once made the West seem immune to civil war are now no longer valid. In fact, in each of these categories the direction of pull is towards civil conflict.”
I believe every issue of discontent is ultimately due to income inequality. When people have hope, to build for the future, they don’t hate their neighbors or their government enough to take up arms. They don’t start civil wars.
The solution is tax the billionaires.
After the tax cut when the bonds tank, the rich will want higher taxes on themselves to pay for the bonds.
After all they own the bonds. It is the underpinning of their financials.
Will we raise taxes in the aftermath of a Treasuries meltdown? I fear they wont be clever enough to see it for what it is.
Not if collateralized and sold as AAA investments…
The money owns the money. Does not matter how it is repackaged.
Remember 2008? GWB, AIG, bond insurance companies going bankrupt, and the pseudo-theory “bankers will not let the economy collapse because it is bad for business”? Same tale retold, different names. Some people never learn…