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Originally Posted by !@#$%!
and kwarteng doubling down on his tax cuts even after the shellacking the pound took last week. he promised "more to come".
but how can you cut taxes and increase subsidies at the same time? only he knows.
also with his flat tax the rich get to keep a lot more, while the poor keep a couple of hundred pounds a year.
the bank of england just increased rates again 50 bps to fight inflation, but tax cuts and subsidies are inflationary, and currency devaluation is inflationary. also brexit is inflationary. are people just going to "keep more" of an eventually worthless currency? 10x0=0...
in the end he's either going to prove to be a revolutionary genius or break the british economy... or maybe they'll bring in someone else to do an emergency reset before that happens.
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And the guy is an
economic historian! You can't make this crazypants shit up...
ETA: As the saying goes, trying the same thing again with the same variables and expect a different outcome is a definition of insanity.