4 thoughts on “British Pound Drops To All Time Low Against The Dollar”
only 2 words for it… CLUELESS INCOMPETENCE!
nobody sane would believe even for a mo that a 1% tax cut for those on “normal” wages will stimulate growth in the economy in a recession, hence the loss of confidence in the £… and when you factor in that those on benefits don’t gain a bean out of it, it obv ain’t rocket science to realize it will stimulate will ZERO growth in a stagflation economy!
contrast that with Darling’s 1% cut in VAT which benefited ALL member of society, and which (in conjunction with other measures) meant we were coming OUT of recession following the global financial crash, and it’s pretty obv what’s needed, yh?
Truss is a moron, she is very blinkered and determined to follow the Thatcherite doctrine she learned at Uni, driven by the thought of basking in the temporary glory of a boom & bust theory. Last time the Tories tried this (prior to Thatcher) during the first energy crisis of 72, exactly 50 years ago, it resulted in 24% inflation!
The poor side of life 
only 2 words for it… CLUELESS INCOMPETENCE!
nobody sane would believe even for a mo that a 1% tax cut for those on “normal” wages will stimulate growth in the economy in a recession, hence the loss of confidence in the £… and when you factor in that those on benefits don’t gain a bean out of it, it obv ain’t rocket science to realize it will stimulate will ZERO growth in a stagflation economy!
contrast that with Darling’s 1% cut in VAT which benefited ALL member of society, and which (in conjunction with other measures) meant we were coming OUT of recession following the global financial crash, and it’s pretty obv what’s needed, yh?
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Here’s a good article in the Graun:
“Pound’s plummet underlines schoolboy error by Kwasi Kwarteng”
https://amp.theguardian.com/business/2022/sep/26/pound-plummet-underlines-schoolboy-error-by-kwasi-kwarteng
The only good thing that might come out of this mess is the Tories’ downfall.
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Truss is a moron, she is very blinkered and determined to follow the Thatcherite doctrine she learned at Uni, driven by the thought of basking in the temporary glory of a boom & bust theory. Last time the Tories tried this (prior to Thatcher) during the first energy crisis of 72, exactly 50 years ago, it resulted in 24% inflation!
LikeLiked by 2 people