Posted: Oct 29, 2022 1:12 am
Oh, I should of course mention that the recent political/economic debacle in the UK was a consequence of 'the markets' knowing that a growth mentality in the UK was utterly unrealistic. So much so that if the Bank of England hadn't intervened and created another £65 billion (iirc) out of thin air to buy the UK gilts that were being sold-off like ice-cubes in the Antarctic, that the UK economy itself may have imploded, otherwise.
It boggles my mind that such stupid/inept people can attain such power in my country. Even Biden commented [to the effect] that Truss was an idiot, enough said.
I only added this to the previous post to highlight the desperation and difficulties all governments and central banks now face. They are ALL on the back foot now, and this recent fiasco with the UK shows just how precarious the situation is becoming.
It boggles my mind that such stupid/inept people can attain such power in my country. Even Biden commented [to the effect] that Truss was an idiot, enough said.
I only added this to the previous post to highlight the desperation and difficulties all governments and central banks now face. They are ALL on the back foot now, and this recent fiasco with the UK shows just how precarious the situation is becoming.