Forgetting Truss’s motives, forgetting what the wealthy perceive they could get, forgetting the bigots that wanted Brexit…there is a point where only so much ignorance can be put up with by the markets and the public when the economy of the UK is imploded out of sheer ignorance.
NYT
Deal Book Column by Andrew Ross Sorkin, this does not have a link to an email column.
Fair usage snippet
"The government isn’t backing down. Liz Truss, the prime minister, told lawmakers yesterday that she wouldn’t reduce public spending, despite independent projections showing her tax cut proposals would blow a hole of up to £60 billion ($66.8 billion) in the government’s budget.
Truss will keep dismissing her critics. The new prime minister appears to have backed down from her campaign pledge to review the Bank of England’s independence mandate. But that won’t stop the feuding, even as economists say her fiscal plans are effectively forcing the central bank to keep raising interest rates — and as she faces a growing rebellion within her own party.
The infighting is exactly the sort of thing that investors have indicated they don’t want to hear."