Think tanks like the Bruges Group, IEA and the ERG have bemoaned that the Bond Market seems to be dictating policy to the government. I find this amusing as they are the great libertarians and are criticising the free market! And for the. record they do not dictate policy, bond interest rates merely reflect how the market rates the ability of the government to repay its loans – at the moment this confidence is falling.
The mantra of growth per se is annoying me. We only need growth where it improves people lives and the environment. There is plenty of money in the economy to pay for improvements to public services (revising Council Tax which valued property in 1979 would be an easy way to raise tens of billions), Efficiency should not be confused with cuts to services. So when Jeremy Hunt calls for efficiencies he really just means cuts. 90% of schools to run out of cash by end of next year (probably April when the next round of energy hikes takes place). Several councils are already looking at bankruptcy with huge implications for peoples lives.
So the incredibly stupid want BJBJ back. He has be proven to be a lazy inefficient liar amongst many other derogatory things. To enable me to watch the demise of the Tory Party I say bring it on! Sunak has ability and his mistakes have been in execution rather than basic policy. Furlough worked but with huge fraud going on. The eat out debacle was ridiculous, but sounds like a BJBJ policy? We will know by Monday whether the Conservative party is going to ask its tame monkeys to vote for a reconstituted turd, or whether Sunak has it. Mordaunt seems unlikely to better BJBJ or even get to 100 as it seems likely that RS will get to 180+
I wonder what deal the two could be making as reported in the press this morning. Surely not a return to BJBJ PM and RS as CoEx? More likely that RS would offer not to give evidence against BJBJ to the Commons Select Committee in return for BJBJ returning to the Dominican Republic permanently!
Whatever happens the right wing think tanks will have lost their influence for months, if not years. it seems that it is austerity 2.0 or at least no tax cuts for the foreseeable future – so they will have to start bleating on about culture wars or migrants or statues. Even the idea that remainers are stopping the huge success if Brexit is really a no starter. I am sure the money from the Koch Brothers and co will not dry up (always helped by donations from Putin via oligarchs).
So it will be left to Labour to pick up the mantle of running a sinking ship that is not heading for the iceberg or rocks, but has hit it big time. Britains debt stands at £2.4 trillion or 85% of GDP which is much lower than France. However French Guilts are much lower than ours? Ah Brexit! Whist it is quite feasible for the. market to see France expanding trade after the Ukraine problem, it is difficult to see us doing the same?
Interviewees in BJBJ’s constituency are competing to see who is the most stupid, the most politically unaware, and most bonkers in comments.
Lastly for today – it seems the Conservative party is bereft of talent. BJBJ sacked, Sunak rejected once, Mordaunt (who?). The rest are too incapable , too objectionable or too astute to enter the fractious wasps nest that is the Conservative party today.