r/worldnews Sep 29 '22 Silver 1 Helpful 1 Wholesome 5 All-Seeing Upvote 1 Burning Cash 3 Evil Cackle 2

The pound collapses as Britain's new prime minister gambles on tax cuts for the rich

https://www.nbcnews.com/news/world/bank-england-uk-pound-crash-tax-cuts-rcna49549
73.7k Upvotes

16.6k

u/OrdinaryPye Sep 29 '22 Helpful

Didn't this lady just get hired?

4.3k

u/CrackSnap7 Sep 29 '22

Ironically, this is exactly what the other candidate warned about.

3.8k

u/time_flask Sep 29 '22

IT's honestly insane that they picked her over him. He was coming from the boring "lets try and stabilize the economy and recover from covid" and sounded like the only adult in the room and she was just going for zingers and yolo economics with fairytale growth and magic money.

1.8k

u/CrackSnap7 Sep 29 '22 Ally

She YOLO'd the economy, all right!

191

u/TheSilverCalf Sep 29 '22

She’s a Mod on r/WallStreetBets

21

u/CrackSnap7 Sep 29 '22

So she's HODLing the economy with sweaty hands?

→ More replies
→ More replies
→ More replies

970

u/flabbybumhole Sep 29 '22

This is exactly what the conservatives wanted, and what they keep doing. Bring in someone incompetent - crap all over them in the media, then replace them again with someone no better than what we had before and praise the new guy for saving us.

However I think they underestimated her incompetence.

364

u/BElf1990 Sep 29 '22

She's a patsy, they hope that if they put her in charge and they do all this stupid shit to line their pockets she'll catch all the flak and they can get away with it. Polls are showing they must have miscalculated but then again next elections are very far away.

202

u/Itsjeancreamingtime Sep 29 '22

This is it. Why concern themselves with what the electorate thinks when they can simply appoint a new leader internally (without an election!) when the previous leader resigns?

It's a bait and switch, and it's pretty clear to see who's profiting.

→ More replies
→ More replies
→ More replies
→ More replies

577

u/Slanahesh Sep 29 '22

It's not even ironic any more. The UK opossition parties have been straight up telling the people the tories plans ahead of time for years now and the tory voters just scream "scare tactics" or whatever other sound bite they've been fed by their overlords.

→ More replies
→ More replies

10.5k

u/Intelligent_Switch72 Sep 29 '22

By the party faithful, yes. Meaning she wasn’t elected but they held an “internal election” after Boris Johnson fell, where many of the electors were wealthy party donors.

6.1k

u/GetTheSpermsOut Sep 29 '22 Gold All-Seeing Upvote

elections are bought and paid for in the Uk and Usa

4.8k

u/[deleted] Sep 29 '22 Starry

[deleted]

1.0k

u/nowayhose555 Sep 29 '22

The current system votes in the party and not the person. I guess that's the problem, you should be voting for the MP in your area but most people saw it as voting for Boris or Corbyn.

→ More replies
→ More replies
→ More replies
→ More replies

1.1k

u/UberDaftie Sep 29 '22

She touched the Queen and a few days later the Queen died. There is a well known saying about this.

374

u/FarawayFairways Sep 29 '22

The Queen knew

"Ma'am, introducing Elizabeth Truss, your new Prime Minister ...... ma'am ....."

421

u/xflox123 Sep 29 '22

Literally died of cringe.

151

u/extunit Sep 29 '22

Died of terminal dissapointment

→ More replies
→ More replies

58

u/Hobomanchild Sep 29 '22

DECADES of saying "God Save the Queen" and finally, God did. Nobody deserves the torture of going from the double whammy she got there at the end.

→ More replies
→ More replies

334

u/bubbawears Sep 29 '22

Yeah and she killed the queen on her first day

140

u/darthmase Sep 29 '22

Go big or go home I guess

→ More replies

73

u/jod1991 Sep 29 '22

"THERE CAN ONLY BE ONE LIZ AT THE TOP!"

pushes the queen down the stairs

"Now, the poor!"

→ More replies
→ More replies

604

u/Cirieno Sep 29 '22

Elected. By a small number of Tories.

793

u/godzillastailor Sep 29 '22

Elected by a vote of 80,000 people.

Count Binface got a total of 92,000 votes last election.

So as it stands count binface has a bigger political mandate than Truss.

391

u/lesser_panjandrum Sep 29 '22 Silver

Consistently better policies, too.

106

u/Creative-Improvement Sep 29 '22

While I did not like him at all, at least I had the feeling there was a brain in there.

47

u/KidTempo Sep 29 '22

It is quite a large bin

→ More replies
→ More replies
→ More replies
→ More replies

7.3k

u/Snarfbuckle Sep 29 '22 Wholesome

Why do rich people need tax cuts?

3.2k

u/Illustrious-Cookie73 Sep 29 '22

Mega yachts Private jets Unicorn burgers Etc

2.0k

u/J_Dabson002 Sep 29 '22 Silver Helpful Wholesome

Giant snake, birthday cake, large fries, chocolate shake

524

u/BernzMaster Sep 29 '22 Silver

We didn't start the fire

→ More replies

104

u/Taffo Sep 29 '22 edited Sep 29 '22

That’s fairly odd

→ More replies
→ More replies

636

u/Kousetsu Sep 29 '22 Silver Helpful All-Seeing Upvote

Latching onto the top few comments to try and get this noticed. There has never been more of a time that activism is needed and required in the UK than right now.

I am so late to this and I am sure I will get buried.

But please - for all those saying "what can we do" - this Saturday is a day of action.

If this has pissed you off, welcome. There are a bunch of us. So many of us. Join the local group that speaks to you the most. It could be EiE. It could be Don't Pay. It could be a smaller fuel poverty group local to you, it could be anything.

We are ALL joining together this Saturday. There is almost certainly something your local area needs you to do. And it needs you, person reading this. It needs you to find your space and share your skills.

We didn't vote on this, at all. We are having the richest in our society foist their views upon us to continue to make profit over the darkest winter of my adult life. They will be raking in the profit while our grandparents die of cold. This isn't hyperbole - this is reality. It is estimated that 1.7million people will be unable to heat their homes this winter. How many of those will die?

Don't sit there waiting for someone to tell you how to protest. Get out and get involved.

Dontpay.uk dontpay.uk dontpay.uk

Edit to add: guys, the revolution really WILL NOT be televised. The BBC isn't going to report on us and tell you how big we are getting. They won't address us, they won't let you know how big and impactful this will be.

But I will tell you - I have been involved in organising and protesting for a while. This is big. This is different. Normal people (i.e. not leftie activists like me) are ENRAGED and joining us. I haven't seen anything like it while I have been involved in organising. People are getting involved from all walks of life, all over. You can too. We need you!

→ More replies
→ More replies

65

u/Fractal_Face Sep 29 '22

The goal isn’t rich, it’s MORE.

→ More replies

460

u/SirPenrose Sep 29 '22

To pay for all the depravity

→ More replies

1.2k

u/I_Do_Not_Abbreviate Sep 29 '22

CGP Grey actually has a good video on this; Basically:

If you are a ruler, staying in power requires that you maintain good relations with powerful or otherwise influential subordinates and private citizens, the "keys to the kingdom" (military generals, business moguls, religious leaders, et cetera). If you keep them happy, they will either work to enact your personal agenda or at least stay out of your way while you do it. If you do things that do not make them happy, instead of supporting your agenda they will either seethe in private, or conspire to have you removed and replaced with someone who WILL do things that make them happy. Every powerful position expects at a minimum to maintain the same amount of power and influence they had before you took power.

Tax cuts for the rich are a great way to keep most of those "keys to the kingdom" happy, essentially a generalized bribe.

299

u/janeohmy Sep 29 '22

Correct. No one wants to be a "fool" where "fool" is defined as having less than what the predecessor had, no matter how nonsensical the entire charade and farce is.

→ More replies
→ More replies

27.4k

u/struds Sep 29 '22 Gold Wholesome All-Seeing Upvote

The headline doesn't do justice to what has happened.

The markets have reacted so negatively to these announcements that the bank of England (UK central bank) has had to step in to try to prevent a run on pension funds.

1.3k

u/Eaton_Rifles Sep 29 '22

A run on pension funds?

Mild understatement, if they hadn’t stepped in yesterday then pension funds in the UK would have pretty much disappeared today.

Funny how they’ve caused this shitstorm and now gone to ground.

188

u/CallMeDutch Sep 29 '22

How many of them? Since I assume we are talking about trillions of pounds here.

243

u/LucyFerAdvocate Sep 29 '22

Only an outdated type of pension fund that hasn't been accepting new customers for 40 years, but a lot of the older population relies on.

Basically there's two types of pension funds in the UK. The type that was in trouble pays out a flat amount (typically inflation adjusted) every year. This type hasn't been accepting new customers for 40 years but still serve existing clients. The other type pays out a set proportion of the pot each year and have actually done rather well out of this because they don't need the type of insurance that is screwing over the former type.

→ More replies
→ More replies
→ More replies

11.1k

u/seriouslymyguyreally Sep 29 '22 Wholesome Seal of Approval

Lol in the US the first thing to go is pensions

5.7k

u/canter22 Sep 29 '22

It’s like they didn’t learn from our mistakes! I read the headline and said “New USA”

5.7k

u/Namika Sep 29 '22 Silver Gold Bravo!

It's much, much worse than the status of the US right now.

The US can be moronic, but their absurdly unfair natural resources and size of their economy means they muddle along even with dumb policy.

The UK trying to copy US policy is akin to seeing someone drive through a brick wall using a tank... and then the UK tries to drive through their own brick wall using a Honda Civic.

2.5k

u/ManbadFerrara Sep 29 '22

The UK trying to copy US policy is akin to seeing someone drive through a brick wall using a tank... and then the UK tries to drive through their own brick wall using a Honda Civic.

This is definitely one of the better analogies I've heard recently.

879

u/PerroNino Sep 29 '22 edited Sep 29 '22

It’s a good analogy, but conveys an impression of misadventure about what is happening in UK. In reality, I think the deliberate drive is to devalue UK quality of life and work to magnetise US investment, to switch from the EU working and QOL standards to US values, lower pay, longer hours, less benefits. The grand plan, as it were. The Honda Civic paves the way for the tank’s arrival (and not a very well built tank at that), while everyone is still viewing the Civic with an illusion of its wreckage being unintentional.

452

u/Ferelar Sep 29 '22

So it's more like the wealthy in the UK seeing the US tank drive through and deliberately ordering all of the workers to ram their honda civics against the wall until breakthrough is achieved, no matter how many workers suffer along the way, so that the British wealthy can stride through the hole in the wall the poor suffered for?

144

u/s0m30n3e1s3 Sep 29 '22

I mean, that's what the UK have been doing even back when it was The British Empire. How do you think it got to the point of the sun never setting? It wasn't the rich and the nobility sacrificing themselves to make life better for everyone. It was them sacrificing the poor to improve their own quality of life and have cocaine parties while everyone else either got addicted to opium or died of lead poisoning

→ More replies
→ More replies
→ More replies
→ More replies

258

u/driftingfornow Sep 29 '22 edited Sep 29 '22

From experience in Kansas, we *tried this.

Three or four years later we had a budget crisis and almost could not* open schools. For the whole state. Thought someone was off their rocker when they told me (I worked for the school.) next day we were all told we might not be paid and might be shut down, state’s gov met and got emergency funding bills passed like 2-3am in the morning the day before we were scheduled to start.

edit: buggy keyboard

→ More replies

110

u/Lost_Symphonies Sep 29 '22

And with each passing day that Honda Civic looks more and more like one of them red and yellow Little Tikes cars.

→ More replies
→ More replies

10.9k

u/[deleted] Sep 29 '22 Silver All-Seeing Upvote Narwhal Salute Wholesome Seal of Approval Eureka! Big Brain Time

They learned.

They learned that in a system without adequate counterbalances to capitalism, rich people can buy their own laws.

7.0k

u/majorflojo Sep 29 '22 Silver Bravo!

They also learned there are enough working/middle class voters who'll fall for the racist & cultural dog whistles dangled in front of tax cuts for rich folks.

1.5k

u/oldvlognewtricks Sep 29 '22

Until energy bills and mortgage interest skyrocket… then the illusion starts to waver.

Edit: and immigration gets loosened to try and plug massive worker shortages exacerbated by your leaving a free-movement bloc.

1.0k

u/Dougalishere Sep 29 '22

They won't care. Theyll still say shit like "it would have been worse under the other lot"

Working class people I know that are broke as shit looking at Rhys Mog and Boris like they actually give a fuck about them. Our country is fucked and it's only getting worse.

152

u/goforajog Sep 29 '22

So much this. I live in the Tory heartlands, and it's so depressing to overhear what people say around here. Despite everything that has happened, all the scandals, lies, and disasters. They will still blindly vote Tory- because "There's no better options." Or "everyone else would be just as bad".

They won't even objectively consider the situation for a second, or challenge their own beliefs. It's absurd.

32

u/Littleman88 Sep 29 '22

It is easier to fool someone than to convince them they've been fooled.

Pride and hate are causing people to double down on their decisions, because setting the world ablaze is preferable to giving the other guy the satisfaction of saying "I was right."

→ More replies
→ More replies

667

u/ISuspectFuckery Sep 29 '22

As an American, this comment is oddly familiar.

123

u/Epicritical Sep 29 '22

Only more British.

→ More replies

16

u/newly_registered_guy Sep 29 '22

Canada too, broke looking at all the same useless tits sitting on government funds letting our public institutions crumble

→ More replies

87

u/Thugmatiks Sep 29 '22 edited Sep 29 '22

Conservatives in the UK have been blaming Labour for literally everything. Conservatives have been in power for 12 years now.

38

u/randy_mcronald Sep 29 '22

Tory Peer and walking shitpost Daniel Hannan blames prospect of Labour government being the reason why the markets reacted so negatively. I'd find it funny if I didn't think plenty of people would still eat this up.

→ More replies
→ More replies
→ More replies

632

u/[deleted] Sep 29 '22 edited Sep 29 '22

[deleted]

273

u/oldvlognewtricks Sep 29 '22

Living below the poverty line makes you less likely to vote based on home ownership concerns — a major voting factor in the UK.

Gun ownership less-so.

→ More replies
→ More replies

272

u/Lucavious Sep 29 '22

No. Unfortunately the worse the situation is, the more strongly idiot humans cling to fascism. For some reason it’s consistent in our history.

51

u/Superdickeater Sep 29 '22

Desperate people look to their charismatic leaders for strength, to tell them who the bogeyman is. When in reality, it’s purely a false sense of security.

→ More replies
→ More replies
→ More replies
→ More replies

649

u/Elgallitotorcido Sep 29 '22

Lol, they went full REAGANOMICS.

438

u/uruinedchristmas Sep 29 '22

Never go full Reaganomics.

180

u/waitingtodiesoon Sep 29 '22

Kansas went full reganonmics and the state defaulted on their loans, schools and public services were shut down and failing, the highway fund was used to cover the failing schools, job growth was drastically smaller than neighboring states, etc. Conservative policies and leadership just ruins lives and destroys the economy until some progressive has to come and fix their mess again.

→ More replies

65

u/[deleted] Sep 29 '22

[deleted]

→ More replies
→ More replies
→ More replies

107

u/[deleted] Sep 29 '22

[deleted]

→ More replies
→ More replies
→ More replies

3.6k

u/[deleted] Sep 29 '22 Helpful

[removed] — view removed comment

2.0k

u/caitsith01 Sep 29 '22 Silver

White collar criminals NEVER get punished. Fines are part of doing business and can even be claimed as tax deductions.

It's not criminal to bet that absolutely incompetent right wingers will completely fuck up the economy for normal people, though, is it?

The real problem here is that the people of the UK voted for a party that pretty much openly has a policy of making things worse for anyone who isn't already rich. Obviously that is through the distorted lens of a fucked up Murdoch dominated media etc, but still... they voted for it.

723

u/The_39th_Step Sep 29 '22 Wholesome

The government’s backers shorted the pound. It’s insider trading

340

u/IM_AN_AI_AMA Sep 29 '22

Considering Truss had a meeting with the country's top hedge fund managers and city people the day before the pound tanked... Looks like she's hit the ground running in the corruption stakes.

74

u/surreysmith Sep 29 '22

Truss meets the Queen. The Queen dies. Truss meets top bankers. The pound dies.

→ More replies
→ More replies
→ More replies

446

u/kaisadilla_ Sep 29 '22

It's blatant corruption, by many sides. It's corruption by bankers who make their profit off having privileged information that lets them sell and buy just before the government takes measures that crash or booms their investments. It's corruption by the politicians that take these measures not for the betterment of the country, but simply to make some extra bucks.

It may not be as blatant and obvious as a guy with a balaclava robbing a bank at gunpoint, but it's still a bunch of thieves rigging and cheating the system to make a profit, and sending millions into poverty and financial struggle in the process.

→ More replies
→ More replies
→ More replies
→ More replies

15.1k

u/Eat_the_Path Sep 29 '22 edited Sep 29 '22

Kwarteng, who has been in the job for less than three weeks, has responded to the criticism by insisting that tax cuts for the wealthy and support for energy prices are the only way to reignite economic growth.

I'm so sick an tired of this. Tax cuts for the wealthy and subsides for companies hiking up prices while making record profits.

Edit: And they're borrowing money to cover the lost tax income. Guess who fucking pays off that debt?

5.8k

u/Not_invented-Here Sep 29 '22

Tax cuts for the poor mean they have extra money to spend which stimulates the economy. Tax cuts for the rich makes the poor serfs.

2.8k

u/Absenceofavoid Sep 29 '22 Silver Wholesome Take My Energy

The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didn’t know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellow’s hands.

-Will Rogers

1.1k

u/Lord_Abort Sep 29 '22

"We need to get money to poor people. If we give it to the rich, it will eventually work its way down to them."

"If we're just giving people money, how about we skip all those steps and just give it to the poor?"

"MADNESS."

642

u/anarcholimitless Sep 29 '22 Silver

It's called the marginal propensity to spend. The wealthy don't spend unexpected income, they save it, whereas the poor have to spend their money to survive, paying for goods and services in the process. Supply side economics never made any sense.

What is eye wateringly funny to me is that the right still see themselves as 'fiscally responsible', Torys have always prided themselves on economic literacy.

...and yet this mini budget puts fiscal and monetary policy at odds with eachother which should be economics 101.

Neoliberalism is failing infront of our eyes.

151

u/Guano_Loco Sep 29 '22

The key is, to them, financial literacy means “I know how to enrich myself at the expense of others”

→ More replies

101

u/The_Etch Sep 29 '22

The tories have never been fiscally responsible. The problem is the media (quelle suprise). Labour managed the economy fantastically compared to ghe tories, and gordon brown saved the UK's economy.

Then cameron came along once the cointry had been saved, and just said over and over again "labours reckless spending" until people just started rrpeating it on their own.

The fact that UK debt has trippled in GDP terms under the tories, the pound is worth nearly half of what it was under brown and each person is about 10k per year poorer right now than they would have been had these conservatives not won power in 2010 is meaningless.

Not to mention the state of the NHS the fucking litter everywhere, roads which are mainly potholed, remember when this country has libraries?

→ More replies

32

u/dylansucks Sep 29 '22

Also the velocity of money is important. Poor people are constantly putting money into circulation and moving it between people because they can't afford to hold on to it.

→ More replies
→ More replies
→ More replies
→ More replies

734

u/HowVeryReddit Sep 29 '22

Money? For the poor? Think of the inflation man! What's best for the economy is if the people don't have enough money and are compelled to reduce consumption of things like electricity or food...

312

u/digydegu Sep 29 '22

Woah! Reduce consumption?! They should completely abstain from luxuries like central heating and food

167

u/KnightLaks Sep 29 '22

You don't get it, maaan. Just stop buying Starbucks every morning, and you'll be rich in no time!

/s

20

u/digydegu Sep 29 '22

I have never bought an avocado in my life and now I own a house. Checkmate liberals /s

→ More replies
→ More replies
→ More replies

227

u/chaoticsquid Sep 29 '22

Any form of tax cuts during an inflation like this are pretty likely to be a lose-lose (which everyone has been telling truss). Giving the masses money causes inflation due to increased demand which can't be reciprocated given the current state of the supply chain, but corporate tax cuts cause what we're seeing here, and encourage the current profiteering behavior of industries, fucking over the working class.

Hate to agree with him but sunak was kind of right when he initially said he would avoid touching taxes until they get a better handle on inflation, or at least they should've taken a far less heavy handed approach than truss who clearly was going for a bold move to please tories.

43

u/PM_me_dog_pictures Sep 29 '22

Any form of tax cuts during an inflation like this are pretty likely to be a lose-lose

Exactly, that's the root of the fuck-up here. The tax cut to the rich (removing the additional rate) was only about 5% of the total cost of the tax cuts, which also included cuts to basic rate and national insurance which affected nearly all working people.

The markets shit the bed at the thought of paying for any tax cuts using borrowing during a period of inflation. It's just a totally stupid idea.

→ More replies
→ More replies
→ More replies

1.3k

u/TheDukeOfMars Sep 29 '22 edited Sep 29 '22

The British are among the worst idlers in the world. We work among the lowest hours, we retire early and our productivity is poor. Whereas Indian children aspire to be doctors or businessmen, the British are more interested in football and pop music.

That’s a quote from a book he coauthored called Britannia Unchained. Essentially, he believes that anyone who isn’t wealthy is just lazy.

Its authors present a treatise, arguing that Britain should adopt a different and radical approach to business and economics or risk "an inevitable slide into mediocrity".

It’s all just code for the same “starve the beast” strategy the economic right uses here in America. If you comepletely starve the government of funding, it won’t function like it’s supposed to. Then you can point to an ineffective government to justify gutting key programs.

The tax cuts disproportionately benefitting the rich isn’t an accident. These people literally believe wealthy people are smarter and work harder, therefore they deserve to own all the country’s wealth. They just ignore the fact that people born wealthy are automatically given a leg up at birth due to better access to resources like education, healthcare, ect and government programs help even the playing field.

https://en.m.wikipedia.org/wiki/Britannia_Unchained

https://en.m.wikipedia.org/wiki/Starve_the_beast

603

u/okuboheavyindustries Sep 29 '22

Football and pop music are interestingly two very successful British exports that bring a fairly substantial amount of foreign currency into the Economy.

254

u/[deleted] Sep 29 '22 edited Oct 13 '22

[deleted]

→ More replies
→ More replies
→ More replies

44

u/Babbles-82 Sep 29 '22

Does this prick own a yacht company??

→ More replies

161

u/Miramarr Sep 29 '22

When can we try "Trickle up" economics? Still waiting on this approach

40

u/BarryTGash Sep 29 '22

I heard an apt description of 'trickle down' economics on R4's News Quiz last Friday. Paraphrasing, the rich sit in their bathtubs and water - the money - flows in. When it reaches the top of the bath, it starts to flow over and 'trickle' down to the rest of us. That's the theory. In reality, when the bathtub becomes full, the rich just buy a bigger bathtub.

→ More replies
→ More replies

1.7k

u/Massive_Pressure_516 Sep 29 '22

The gamble wasn't if it would help the pound, the gamble is if she can get away with effectively serving up the 99% on a platter to the rich without her getting thrown in prison for it. (I think she will get away with it)

613

u/ExParrot1337 Sep 29 '22

Of course she will. Worst case she loses the next election, gets a knighthood and a parliamentary pension, and is parachuted into a high paying position with no actual responsibility as a reward.

→ More replies

58

u/VibeComplex Sep 29 '22

Too bad we’re in an era where people with power, whether that’s from money or political power, you will not face consequences. An attorney general killed a guy with his car here in America and just went on with his life. People barely even talked about it lol.

I’ve been listening to some podcast on the fall of the Roman republic recently and it’s really sad to learn this same fight between left wing populist and rich/elitist conservatives has been going on for atleast 2,000 years is sad af.

→ More replies
→ More replies

10.6k

u/9Wind Sep 29 '22 Wholesome Take My Energy Narwhal Salute

At this rate the pound will become an ounce

2.4k

u/Secret_Fox_5192 Sep 29 '22 Ally

Then an eighth

1.4k

u/igetalogiawheni Sep 29 '22 Silver

Any lower than that and your dealer stops dropping off

545

u/cbbuntz Sep 29 '22 Helpful

[scratching] y'all got any more of them trickle down tax cuts?

→ More replies
→ More replies
→ More replies
→ More replies

5.1k

u/MikeJL21 Sep 29 '22

Trickle down economics has never, and will never, work.

1.2k

u/GamerSam Sep 29 '22

Hey hey hey... The bad parts trickle down just fine.

495

u/Seskapill Sep 29 '22 edited Sep 29 '22

There's a saying I leaned in France, I'm not sure where it comes from: society is like birds in a tree, the lower you are the more you get shit on, and the more assholes you see when you look up.

18

u/LudereHumanum Sep 29 '22

That's quite graphic and apt at the same time.

→ More replies
→ More replies

435

u/itsmarta-punto-com Sep 29 '22

It works exactly as intended. The rich get richer and piss on the poor.

→ More replies

36

u/IntellegentIdiot Sep 29 '22

On the contrary it works very well if your goal is giving rich people money.

→ More replies

3.6k

u/CapitalLine Sep 29 '22

No deal with EU, no deal with the US, pound crashing, Scotland getting ready to bolt, Ireland is warming up again.

Way to go tories, you really outdid yourselves this time lol.

1.7k

u/DarkIegend16 Sep 29 '22

But remember that one thing Labour did that one time twelve years ago! - Conservative voter

445

u/Global_Office_8344 Sep 29 '22

Look what Jeremy Corbin did!

→ More replies

284

u/[deleted] Sep 29 '22 edited 22d ago

[deleted]

189

u/rockslide-clapper-ro Sep 29 '22

I can't believe we're here because of that fucking bacon sandwich

24

u/Ohrgasmus1 Sep 29 '22

Well, if he would have just fucked the pig befor eating the bacon sandwich, it would have been ok or what was it with boris and cameron

74

u/Orange_Jeews Sep 29 '22

ELI5 what this means. I'm Canadian

204

u/anarchisto Sep 29 '22

Ed Miliband, the Labour leader, awkwardly ate a bacon sandwich.

The right-wing press used a photo to make Miliband look like a very clumsy person generally.

Similarly on how the British press had a huge anti-Corbyn campaign. (this The Sun front page is a masterpiece of propaganda)

143

u/Orange_Jeews Sep 29 '22

Politics is so fucking weird. Also people are so fucking stupid for letting this form who they vote for

34

u/idzero Sep 29 '22

It gets even better, there's a whole wikipedia page on it: https://en.wikipedia.org/wiki/Ed_Miliband_bacon_sandwich_photograph

24

u/Thoth74 Sep 29 '22

This is pathetic. Sure, it's a terrible picture but it in no way indicates anything at all people say it does. All it shows is the guy looks stupid when he's eating. Guess what? We all do.

I am rapidly running out of my reserves of faith in humanity.

→ More replies
→ More replies
→ More replies
→ More replies
→ More replies
→ More replies
→ More replies

189

u/MattGeddon Sep 29 '22

It’s even better than that, some of them are actually blaming the next Labour government by saying the reason the pound slumped is because the markets are worried that Labour will get in soon. Nothing to do with the disastrous financial decisions by the current lot whatsoever.

18

u/Mind_Altered Sep 29 '22

You couldn't write fiction like that. Too unbelievable

→ More replies
→ More replies
→ More replies

14.0k

u/tnsus Sep 29 '22 edited Sep 29 '22 All-Seeing Upvote Take My Energy Bravo Grande!

So we are looking at a possible global recession, rising prices, inflation thru the roof, war in eastern Europe, and 1st on her agenda is tax cuts for the wealthy? What the actual fuck. Im American and this pisses me off for you guys.

2.9k

u/Wind_Yer_Neck_In Sep 29 '22

Reports are that our chancellor of the Exchequer (top finance minister) had meetings with hedge funds and some bankers a few days before the announcement and that they all made money on the drop.

So he either thought 'I can't wait to tell my buddies about my super smart plan!' and is incompetent. Or he knew what was about to happen and did it to enrich his friends/self.

Two wonderful options.

993

u/BDL1991 Sep 29 '22

The Tory policy has always been give mates money fuck the economy, gonna make the working class pay for the fallacy

359

u/KalinOrthos Sep 29 '22

Reaganomics completely ruined entire generations here in rhe states, I can only hope that these shitty policies get removed before they can do the kind of damage they did here across the pond.

250

u/TheMadPyro Sep 29 '22

Too late. Like over 40 years too late. Reagan was best mates with Thatcher. All the shit he pulled in the US? We got it too.

111

u/KalinOrthos Sep 29 '22

I get the constant impression that Thatcher was the second worst thing to happen to the UK in modern history. The first of course being Piers Morgan. (Im joking please dont hurt me)

79

u/TheMadPyro Sep 29 '22

70

u/KalinOrthos Sep 29 '22

Yet people still vote for the politicians carrying on her legacy. I would say "I don't get it", but we regularly get poor, rural folk voting for Republicans exclusively, so.

Side note, though, I love how dry British humor is.

48

u/SlakingSWAG Sep 29 '22

It's important to recognise that the British media is insanely loyal to the Tories, and have been for years. Some papers have been running hitpieces of Kier Starmer as opposed to pointing out what Truss is doing, just like how they did with Corbyn when May was turning the country into an international laughing stock. Coincidentally, most of the major publications in the UK are owned by a handful of billionaires and multi-millionaires. It's the only reason they win, because the papers are bought and paid for. The PRC would blush if they saw just how uncritical the British press is.

But hey, according to Tories that's just a coincidence and it is absolutely cool and normal that there has not been a single PM in decades who hasn't won without Rupert Murdoch's direct endorsement, nothing to see here.

→ More replies
→ More replies
→ More replies
→ More replies
→ More replies
→ More replies

54

u/Iwanttosleep8hours Sep 29 '22

As much as I want to say it was typical Tory behaviour, my bet is he is a super confident idiot.

→ More replies
→ More replies

247

u/Plantsandanger Sep 29 '22

Because she wants to make thatcher look cuddly and helpful.

→ More replies

3.3k

u/BlackPrincessPeach_ Sep 29 '22

They want to pad their own pockets.

We are about to riot lmao.

2.2k

u/Jerri_man Sep 29 '22

We are about to riot lmao.

I wish I shared your optimism.

1.8k

u/Bipogram Sep 29 '22 Take My Energy

Lest we forget that Marx thought that revolution would happen first in England.

So wrong, so so wrong.

The ability of the average Brit to sit in a dark unheated room watching a cooling cup of tea in a cracked mug and think "This is fine", is the nation's anti super-power.

522

u/Jerri_man Sep 29 '22

Unfortunately its infectious. Political apathy is a cancer here in Australia as well. We did finally see some change in the most recent election, so maybe there is a slither of hope.

Even assuming a similar outcome, between now and the next UK general election there is still plenty of time to do damage though.

509

u/LowestKey Sep 29 '22

Funny how the US, UK, and Australia all have such thriving right wing propaganda mills.

Must be a coincidence.

49

u/baseball2020 Sep 29 '22

The coincidence of policy is gnarly too. When aus passed laws against encryption, the others also proposed this (didn’t make it through congress iirc). When trump wanted the truck driver age lowered to calm an overheating labour market: Morrison proposed a reduction in the forklift driving age. It’s almost like the platforms are even copied.

160

u/Hairy_Al Sep 29 '22

If by "coincidence" you mean Rupert Murdoch, then yes

→ More replies
→ More replies
→ More replies
→ More replies
→ More replies

885

u/--Muther-- Sep 29 '22

Her father is a left wing maths professor who has essentially disowned her because of her swing to far right politics. Imagine been so shit, your father disowns you.

And Liz Truss is totally shit.

318

u/LittleJerkDog Sep 29 '22

Both parents were left of Labour. They really fucked up with her.

371

u/mynameisethan182 Sep 29 '22

Imagine rebelling so hard against your parents you conform to the will of the rich elites.

→ More replies
→ More replies
→ More replies

606

u/KarIPilkington Sep 29 '22

Fuck me, if the Americans are showing sympathy for us it really is worst case scenario.

73

u/heyimjason Sep 29 '22

Your socialized medicine is next!

→ More replies
→ More replies
→ More replies

3.1k

u/Flatout_87 Sep 29 '22

Don’t understand how COMMON people are still supporting these leeches.

2.3k

u/gijoe1971 Sep 29 '22

Because they get their news and opinions from newspapers that have boobies on page 3.

864

u/lesser_panjandrum Sep 29 '22

And those newspapers are owned by a handful of fossilised billionaires who are mates with Tory politicians.

506

u/MyPasswordIsMyCat Sep 29 '22

Speaking as an American, Rupert Murdoch is a cancer on all humanity.

57

u/Admiral_Cuntfart Sep 29 '22

I read somewhere that Rupert Murdoch is probably the single most harmful individual organism alive today.

→ More replies
→ More replies

100

u/Claystead Sep 29 '22

Still remember the Sun and their readers counting down until certain ladies turned 16, stable and normal people as they are.

→ More replies
→ More replies

124

u/quick_justice Sep 29 '22

They don’t. She has no popular support, currently Labor leads Tories by +18 in the polls.

→ More replies
→ More replies

5.5k

u/EastendDan Sep 29 '22 Silver Take My Energy

Poverty exists, Not Because we cannot feed the poor, But because we cannot satisfy The Rich!

510

u/Undercover_Cabbage Sep 29 '22

Is this a quote from something? I like this…

→ More replies
→ More replies

1.9k

u/ryenaut Sep 29 '22

Good god. What fucking idiots keep voting cartoon villains like this into power?

1.4k

u/RedofPaw Sep 29 '22 Helpful

The tory party chose her because she said all the nice sounding tory words. She angled herself as the new Thatcher and said everything could be amazing.

They voted for her over Richi Sunak. He was the chancellor for the past few years during the pandemic. Instead of saying everything could be lovely he said "actually things are going to be a bit tough and we still need to be a bit careful and tax cuts need to wait a bit". He's also not white, which didn't do him any favours among the tory party members.

It's been a decade of the tories and each subsequent leader has been worse. Brexit was an aberration. It appealed to voters who would traditionally vote Labour, and tories became the brexit party to take those votes. It purged itself of those not faithful to brexit. In doing so it hollowed itself out. Brexit is done and now there's nothing left but the consequences. Nothing left to rally round or cheer on.

Tories can't run on getting brexit done. So the old forces come back into play. But where before they would cosplay as the party of 'fiscal responsibility' they're not even wearing that mask any more. Its straight class warfare. Fuck the poor. Rich mates need pocket money. Oops... Apparently that crashes the economy.

We are two years out from an election. That's a lot of time for Truss and Co to fuck things up.

But the polls are grim reading for them and it's hard to imagine anything but a landslide against them next election.

210

u/perfectpencil Sep 29 '22

But the polls are grim reading for them and it's hard to imagine anything but a landslide against them next election.

They are banking on 2 years being long enough for voters to forget. That's been proven true here in the US.

→ More replies

459

u/Drongodingasaur Sep 29 '22

He also directly said on camera “we plan to reverse the previous government’s plans to give funding to poor urban areas and give it to places like this” while in Royal Tumbridge Wells. He would have done exactly the same thing as her.

227

u/RedofPaw Sep 29 '22

Oh don't get me wrong. He would also have been crap. But he wouldn't have brought in tax cuts or other stuff the way Truss and Co have.

He would have kept the shop steady and sailed it right off the waterfall.

→ More replies
→ More replies
→ More replies
→ More replies

191

u/[deleted] Sep 29 '22

[deleted]

→ More replies

586

u/Hamsternoir Sep 29 '22

It's collapsed again overnight?

Less than a month into her job and Liz has fucked us harder than Cameron when there's a piglet in the room.

And for ten days we were busy mourning the queen. Quite impressive, not even Boris was that quick off the mark.

738

u/NoAttentionAtWrk Sep 29 '22 Helpful Wholesome

She touched the queen and the queen died.

She touched the pound and the pound died.

Send her to shake hands with Putin

79

u/Flyingwheelbarrow Sep 29 '22

And death did wear a pale business suit with matching blazer and she did kill all she touched.

→ More replies
→ More replies
→ More replies

61

u/VoiceOfRealson Sep 29 '22

There is a recession. - Tax cut for the rich will solve that!

The economy is booming. - This means we can finally afford a tax cut for the rich!

There is a threat of a third world war. - Lets cut taxes for the rich.

People can't afford electricity or gas. - Lets cut taxes ... mostly for the rich though.

1.7k

u/BeKind_BeTheChange Sep 29 '22 All-Seeing Upvote

You tax the rich. You redistribute the money to the poor. The poor spend that money on the stuff that the rich sells that makes them rich. The rich now have most of the money back and the poor have food. It's not rocket science.

376

u/FemaleDetectiveMan Sep 29 '22 All-Seeing Upvote

Except it apparently is.

→ More replies

306

u/nick_shannon Sep 29 '22

Yeah but the rich don’t want their own money coming back to them they want to keep that money and have any money you have and any money I have and any money my neighbour has.

→ More replies

240

u/cohonan Sep 29 '22

Exactly, they get the fucking money back eventually!

It is beyond shortsighted, it’s intentionally cruel.

25

u/goatofrocketh Sep 29 '22

It is beyond shortsighted, it’s intentionally cruel.

Tories in a nutshell

→ More replies
→ More replies
→ More replies

204

u/Luddites_Unite Sep 29 '22

What's the shortest tenure for a prime minister?

280

u/Jumpy_Relationship_8 Sep 29 '22

According to Wikipedia, George Canning in 1827 at just 119 days. It should however be noted that this is because he died rather than getting fired

133

u/DirtyProtest Sep 29 '22

Ah we can live in hope.

→ More replies
→ More replies

729

u/[deleted] Sep 29 '22

It literally leads to the rich hording money at the expense of everyone else. The rich can compete on the cost of their super yachts and mega mansions. There is only so much money to go around.

343

u/TheMania Sep 29 '22

One of the most frustrating things is that status symbols function just as well even if you tax the shit out of them. Put a 100% tax on large yachts, the rich will still buy big yachts to try and one up each other, try and fill that hole in their lives, they'll just be a little bit smaller - but services and infrastructure will be better funded.

But oh no, can't do that, it's class warfare or "a drain on the economy" or whatever they're selling us these days.

→ More replies
→ More replies

304

u/JamUpGuy1989 Sep 29 '22

One day the British will rise up and stop with this bullshit.

It won't be today though.

173

u/LoopStricken Sep 29 '22

I've got £4 to survive on for the next two weeks. After that, we'll see.

198

u/LawabidingKhajiit Sep 29 '22

You see, the reason you only have £4 is because you're poor and spend your money. If you were rich, you'd have solar panels and an electric car, so wouldn't have to spend your money on energy and transport, you'd have investments all over the world so wouldn't be affected by petty things like losing your job, and a shell company so you could expense anything you do buy to offset the cost.

Rich people know how to handle money; you stash it in your bank and invest it, you don't spend it. That's the problem with poor people and money; they insist on spending what little they're given on things like food and heating and getting to work, like the idiots that they are.

Nonono, far better to make changes like this, and take that money out of the hands of poor people who've already proven they can't handle it by not having much of it in the first place, and give it to rich people who have a proven track record of carefully hoarding lots and lots of it.

→ More replies
→ More replies
→ More replies

2.3k

u/InflamedLiver Sep 29 '22

What a shock, conservatives go-to move of giving more money to the rich has failed them

1.9k

u/Bokbreath Sep 29 '22

It hasn't failed them. The rich are literally getting more money. It has failed the country, but conservatives don't give a shit about that.

1.3k

u/Murais Sep 29 '22 Silver Gold All-Seeing Upvote Take My Energy

Humans are naturally inclined to the brainworm of "Numbie Go Up."

Rich people are so enthralled by Numbie Go Up that they will attempt to do so at any cost. This also means that any ramifications outside of Numbie Go Up are patently dismissed.

Ergo, the shortsighted growth of free market capitalism. Employment rates down? Doesn't matter, Numbie Go Up. GDP stagnating? Doesn't matter, Numbie Go Up. Pensions crashing? Doesn't matter, Numbie Go Up. Inflation through the roof? Doesn't matter, Numbie Go Up.

Taxes make Numbie Go Down. Must be avoided at all costs.

But then people can't afford things, the market crashes, and rich people start to panic because Numbie has stopped Going Up.

Cue bailouts and the cycle beginning anew every fifteen to twenty years until we learn a better fucking system and that maybe we should stop listening to people with brainworms.

357

u/Bokbreath Sep 29 '22

to paraphrase - If you don't adopt policies that make me money, I will use the money and resources I have to hurt you until you change your mind

244

u/ModernEraCaveman Sep 29 '22

to paraphrase further - Numbie Go Up or else.

→ More replies
→ More replies

118

u/kerouac666 Sep 29 '22

Read an anon interview forever ago with a financial advisor for the ultra rich and he basically said what you said; that eventually the ultra rich stop looking at what money they can spend or what it can buy, and instead just get addicted to watching the number regarding their wealth go up l, and, more so, how it relates to other ultra rich peoples’ number going up. Nothing matters to them other than that number should be larger tomorrow than it is today, and if it’s not they’re like addicts going through withdrawals.

→ More replies
→ More replies

49

u/Thebluecane Sep 29 '22

Exactly their donors are diversified and can take loans for nothing

→ More replies

59

u/HulksInvinciblePants Sep 29 '22 edited Sep 29 '22

At least most have the common decency sense to enact these sort of things when the economy is well and they can blame the aftermath on the next administration. She's literally demonstrating the multi-year consequences, in a matter of days, because its essentially gasoline on their Brexit exacerbated, supply woes.

Europe's winter is going to be very dark, and moves like this all but guarantee their economic stability will have to wait until well after the US finds theirs, because nothing is getting better until the dollar weakens via lower rates.

→ More replies

353

u/InternetPeon Sep 29 '22

When you hear “tax cut” your mind should immediately translate that into government service cuts - like maintaining water plants, food programs for the hungry, funding for the rule of law.

There is no justification for a parasite class that feeds off everyone and does not contribute anything in return to broader society. It will keep feeding until it kills the host.

→ More replies
→ More replies

274

u/kaiju505 Sep 29 '22

“The pound collapses as Britain’s new Prime minister gives hand outs to her rich friends at the expense of the rest of the country.” - there ftfy.

→ More replies

244

u/[deleted] Sep 29 '22 edited Oct 31 '22

[deleted]

91

u/TheAbyssGazesAlso Sep 29 '22 edited Sep 29 '22

It's not stupidity, it's being evil. They KNOW that Trickle-Down doesn't work. They are completely aware that they are lying when they talk about it. It just lets them keep a straight face while they plan to give the rich (i.e. themselves and their voters) more money.

→ More replies
→ More replies

244

u/Kousetsu Sep 29 '22 edited Sep 29 '22 Helpful Wholesome

I am so late to this and I am sure I will get buried.

But please - for all those saying "what can we do" - this Saturday is a day of action.

If this has pissed you off, welcome. There are a bunch of us. So many of us. Join the local group that speaks to you the most. It could be EiE. It could be Don't Pay. It could be a smaller fuel poverty group local to you, it could be anything.

We are ALL joining together this Saturday. There is almost certainly something your local area needs you to do. And it needs you, person reading this. It needs you to find your space and share your skills.

We didn't vote on this, at all. We are having the richest in our society foist their views upon us to continue to make profit over the darkest winter of my adult life. They will be raking in the profit while our grandparents die of cold. This isn't hyperbole - this is reality. It is estimated that 1.7million people will be unable to heat their homes this winter. How many of those will die?

Don't sit there waiting for someone to tell you how to protest. Get out and get involved.

Dontpay.uk dontpay.uk dontpay.uk

Edit to add: guys, the revolution really WILL NOT be televised. The BBC isn't going to report on us and tell you how big we are getting. They won't address us, they won't let you know how big and impactful this will be.

But I will tell you - I have been involved in organising and protesting for a while. This is big. This is different. Normal people (i.e. not leftie activists like me) are ENRAGED and joining us. I haven't seen anything like it while I have been involved in organising. People are getting involved from all walks of life, all over. You can too. We need you!

Edit 2: thank you for upvoting and giving my late post visibility! I wanted to add on what I heard today - in the few months it's been around, Don't Pay UK has emassed more pledges than there are members in the labour party. There are over 200 local organisers. I'm not saying it's us you should get involved with - your skills/ideals my lay elsewhere. But we are actually all in this together. We are growing so fast, all of us are. There is a group near you organising on Saturday and they need everyone they can. See what you can get to. We are all trying our best to keep everything as local as possible so that we can show a true strength in numbers across the country - not just London.

→ More replies

25

u/snarfalarkus42069 Sep 29 '22

right wing candidate is elected, the rich immediately cut themselves a check and celibrate

Every single time

151

u/Less-Blackberry-8108 Sep 29 '22

Why is it always tax cuts for the rich. It’s time to evolve from this stupid notion of trickle down.

→ More replies

224

u/Elddif_Dog Sep 29 '22

Its almost as if rich people not paying and poor people not having money to pay can be negative to a countries economy.

Just another completely incopetent politician serving their own interests over those of the country.

932

u/AmHoomon Sep 29 '22

I challenge a single person to show (evidence required) where "conservative" economic policy horse shit like this EVER improved things--and you have to proof that "improvement" beyond a few years. Sometimes this garbage overheats an economy to make whored up fake gains, but that's not even assured.

Conservatism is like eating lead paint chips and washing it down with mercury.

→ More replies

55

u/plenebo Sep 29 '22

Something tells me this "gamble" has been tried for 50 years and hasn't been doing much for anyone outside 5 percent of the population

→ More replies

53

u/greylegface Sep 29 '22

She’s blaming the global economy and saying that she has delivered the energy cuts. She isn’t admitting that the disastrous tax cuts have anything to do with the collapse. She is a fucking ghoul and knows exactly what she’s doing. There needs to be a GE asap.

What a fucking shambles his country is

→ More replies