Opinion | The U.K. Market Meltdown Could Be Headed Your Way

With Liz Truss's resignation as Prime Minister, Britain's Tories show they have failed to learn from their economic failures. Images: Reuters/EPA/Shutterstock Composite: Mark KellyAs fun as it might be for outsiders to gawk at the political chaos engulfing the U.K., Prime Minister Liz Truss’s resignation Thursday is a sideshow. The bigger problem is that recent events in Britain are an alarming vision of a fate that potentially awaits all of us in developed economies.

The conventional view of Ms. Truss’s rise and unfortunate fall holds that markets took fright after then-Chancellor Kwasi Kwarteng on Sept. 23 announced. This triggered a rout in the market for the pound and government bonds, or gilts, as investors worried about the government’s capacity to pay its bills. Improperly hedged pension funds found themselves forced to sell gilts in ever larger quantities. The Bank of England stabilized the market with emergency gilt purchases, buying time for Ms.

therealhostman opinion josephsternberg Shouldn't start sneering at GBP when on dodgy USD ground

therealhostman opinion josephsternberg Ofc. The US Empire and the UK outpost have both been running on unaffordable debt, making the elites richer than ever, they have to continue so that they increase their billions further. Meanwhile, anyone on £50k/year is considered “rich”.

opinion josephsternberg If we cut taxes for rich people just one more time… the economy will fix itself

opinion josephsternberg Putin had her fired

opinion josephsternberg nonsense. the markets beef was that she was pushing archaic disproven trickle down. The same nonsense our GOP pushes here. The British are smart and know failed policies don't work magically when re-tried over and over again.

opinion josephsternberg Murdoch is turning the once Great Wall Street Journal into the National Enquirer.

opinion josephsternberg

opinion josephsternberg

opinion josephsternberg i can't believe that supply siders still cling to this demonstrably losing strategy.

opinion josephsternberg Say it with me now … Suppy side economics is just another term for handouts for the rich. It has never worked, it will never work as advertised. Calling it Trussonomics doesn’t change anything.

opinion josephsternberg Show us one time it has ever worked.

opinion josephsternberg I didn't know that the WSJ was trying to catch up with TheOnion on satire and stating the absurd

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

UK Prime Minister Liz Truss resigns after failed budget and market turmoilU.K. Prime Minister Liz Truss resigned following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party. Well, she didn’t last long haha When people truly open their eyes to conservatism, then none of them should! Guess they didn't Truss her Seems minor compared to what Biden has done.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »

‘A Fantastic Mess’: Here’s How Much U.S. And U.K. Stocks And Bonds Cratered During Liz Truss’ TenureBond yields in the U.K. and U.S. skyrocketed to their highest levels since 2008 as the market lost confidence in governments’ ability to navigate a looming recession and digested sticky inflation data.
Sumber: Forbes - 🏆 394. / 53 Baca lebih lajut »