It’s going a bit Liz Truss for Donald Trump – politicalbetting.com
It’s going a bit Liz Truss for Donald Trump – politicalbetting.com
NEW ?A quick thread of charts showing how Trump’s economic agenda is going so far:1) US consumers are reacting very very negatively.These are the worst ratings for any US government’s economic policy since records began.
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"U.S. companies cut 275,240 jobs in March, marking the highest number of layoffs since May 2020."
Which suggests they might have a go at fixing the next election.
Truss never won a GE mandate in the UK for her slash taxes (while not axing the state) plans and as they were fiscally ill disciplined (there was no Truss DOGE to fund her tax cuts) crashed the markets even more than Trump has. It was Boris who won the 2019 GE not her and largely on a pro big state, not massive tax cuts as well as pro Brexit manifesto
Reform party suspends candidate for pro-Jimmy Savile tweets -
https://bsky.app/profile/stevepeers.bsky.social/post/3llyranxzjk2m
Stephen Hartley was listed as standing for Reform UK in the Banbury Hardwick ward, ahead of local elections to Oxfordshire County Council on 1 May.
In an interview with the BBC, Mr Hartley confirmed he posted in 2022 that Savile was a "working class hero" and said that he may have "forgotten" to disclose his X account to Reform UK.'
https://www.bbc.co.uk/news/articles/cm2xey4m2ygo
Especially if there isn't one
*RUBIO SAYS `MARKETS WILL ADJUST' TO US TARIFFS
evidently to the downside. SPX futures down 4% at the moment
https://x.com/kgreifeld/status/1908120689283830055
They are adjusting price expectations in light of future economic performance.
Just spoken to two local Estate Agents who both said they have a large number of second homes coming into the market following Conwy's 150% uplift in council tax for all second homes
Rather than their own personal platform they projected onto his nonsense.
Congress is supposed to have this power under the Constitution, but voluntarily gave away the power to the President.
They'll still need a 2/3rd vote to override Trump's expected veto, but it is far easier to find the votes to do this. There are already 5 Senators in favour of this (McConnell, Murkowski, Collins, Rand Paul, Grassley).
A supranational bank would sidestep the European Commission, involve the British, and allow defense-spending off the balance sheet.
https://www.politico.eu/article/uk-eu-defense-fund-arms-investment-procurement/
The closest Labour have ever come to that was with the Mosely Memorandum in 1930-31 and, 45 years later, the Alternative Economic Strategy. Both were rightly given short shrift by the leadership.
Otherwise, there was the period in late 1945 when, yes, a siege economy was considered - but only as a last resort in the event of not being able to negotiate what became the Anglo-American Loan. I don't think anyone ever saw it as being desirable!
You'll note that the Wilson government ridiculed Maxwell's "I'm Backing Britain" even at a time when British politics was at its most dirigiste, and the Mélenchonism-lite idea of Progressive Protection didn't get much of a hearing even at the height of Corbynism.
The reality is that Labour have been more consistently pro-free trade than even the Liberals (who wavered in the 1920s & 50s).
Trump's actions are nowhere close to being near the mainstream of UK politics.
https://www.nytimes.com/1964/10/27/archives/britain-imposes-15-import-tax-to-back-pound-us-sympathetic-but.html
If country A sells natural gas to country B which sells fertilizer to country C which sells food to country A, then you can have a perfectly balanced trade triangle.
(Indeed: something similar happens in the real world. The US runs a trade surplus with Brazil, which runs a trade surplus with Japan, which runs a trade surplus with the US.)
My piece on bilateral trade balances is well worth a watch - https://youtu.be/4kDJDOLkQAs?si=P72fxcqJ8Yo1fZcK
If you've only got one week, for Uzbekistan, do 2 nights in Tashkent (but minimise your time, via early/late high speed trains) and do 2 nights in Bukhara and 3 in Samarkand
It is a magnificent destination. Even if the food is poor-to-bad (which it is - stick to kebabs, chicken thighs and hearty local red wines)
Us dutiable imports were charged at around 12 - 13% (and their then economy was far more competitive than the then UK).
But the rules don't apply to him. For now.
Apparently a 2015 UKIP candidate had previously posted on Facebook that Harold Shipman was a national treasure who deserves a posthumous pardon for ridding us of expensive burdens on the state when that money could be spent on tax cuts.
This is what the Registan in Samarkand looks like at night
You have a kebab-heavy dinner in a nearby restaurant with no idea and then, rather tipsy on ok local red wines (about £3 a bottle) you walk out and - if your guide is clever (as ours was) - this is your first introduction to the city
It’s as close as you can get to hallucinating, in modern travel, without taking psychedelics. And it really does look like that. Even in high season
@internethippo.bsky.social
Deals Genius relegated to begging other people to save him from his own actions
https://bsky.app/profile/internethippo.bsky.social/post/3llyphgh3722r
And HYUFD, whilst his comparison is in all other respects rather stupid, is right that he has a mandate and a fairly united party, so he is likely to ride this out.
Plenty of other countries were doing similar things at the time too - hence the need for GATT, etc.
Yeah so I guess it makes sense that he bankrupted a bunch of casinos
It would match Trump posting a video that says he is crashing the markets on purpose
@robin_j_brooks
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Safe haven buying of the Dollar is kicking in. You can't see it in Euro or Yen, which are up as carry trades funded out of these currencies have been stopped out. But you can see it across EM in currencies like the Brazilian Real, which is now selling off as global stocks fall...
https://x.com/robin_j_brooks
‘Long Live Democracy’: Millions in Seoul celebrate Yoon’s ouster
https://www.koreatimes.co.kr/southkorea/society/20250404/long-live-democracy-millions-in-seoul-celebrate-yoons-ouster
Farage is Britain Trump and he wants DOGE and all the attendant madness of a "reformation" and "clear out" etc etc.
Indeed, this is the only sort of national election that our party leaders get to stand in.
the emperor’s favorite concubine fired one of his top internal security officers while rumors abound that the household eunuch has lost the emperors favor
@kentindell.bsky.social
Let's play another round of "Byzantium Or America!" For ten points..
https://bsky.app/profile/kentindell.bsky.social/post/3llypo3zmbk2m
I just introduced the Delete DOGE Act, which – you guessed it – would defund DOGE.
https://x.com/RepSaraJacobs/status/1907951825707311282
These are the top 4:
Japan: $1.1 trillion
China: $759 billion
United Kingdom: $723 billion
Luxembourg: $424 billion
https://www.bbc.co.uk/news/articles/c5yp8gee2peo
MacRumours website
https://carriere.ro/uploads/simplex/Business-Adventures_-Twelve-John-Brooks-1 (13).pdf
EARLY in 1964, it began to be clear that Britain, which for several years had maintained an
approximate equilibrium in her international balance of payments—that is, the amount of money she had annually sent outside her borders had been about equal to the amount she had taken in—was running a substantial deficit. Far from being the result of domestic depression in Britain, this situation was the result of overexuberant domestic expansion; business was booming, and newly affluent Britons were ordering bales and bales of costly goods from abroad without increasing the exports of British goods on anything like the same scale. In short, Britain was living beyond her means.
The problem is that the US doesn't want to do that.
Fed chairman pierces Trump reality distortion field:
“Federal Reserve Chair Jerome Powell said the U.S. economy was likely to face a period of higher prices and weaker growth…because of larger-than-anticipated tariff hikes announced by President Trump.”
https://x.com/jimsciutto/status/1908195207746609337
Perhaps someone needs to raise a counter-argument. Why? Because I recall a similar chorus of scorn and disdain from non-Brits when we voted for Brexit. And nearly all of these opinions were spectacularly ill-informed, eg I would hear liberal Americans saying "why the fuck have you cut yourself off from your major market" and when I pointed out to them the huge democratic flaws in the EU they not only didn't understand, they didn't even have the first idea. "What, your supreme court sits in a different country, and speaks a different language, and you don't vote for the people that make the laws??!
etc etc ETC
So is it possible Trump is doing a Brexit. ie something that makes sense in American terms, but the rest of us simply don't "get", and maybe never will?
I am merely throwing up the idea. Because, to me these tariffs look like madness - even if they are just some bluff designed to get better terms for USA Inc - they have caused hideous instability which will not be forgotten
Are we missing something?
They are both fucking insane
Welcome to the team, at last...
So the reality will be that workers get fewer hours and if people leave fewer people will be employed to take over the work with the extra hours being given that existing workers.
That's my point
Have a go
Everyone wants there to be a grand scheme behind all of this but the terrible truth is that extremely stupid people are in charge and they have a fanatical devotion to wrong, childlike concepts of society and economics cooked up by right wing radio hosts in order to sell tainted dietary supplements
https://bsky.app/profile/ianboudreau.com/post/3llw3gfmvws2g
This follows on precisely from Signalgate, the lesson of which is these guys are morons. There is no plan. They have no clue.
They are not playing chess. They are not playing checkers.
They are eating the pieces off the board...
Midterms will be shite, and floaters will perhaps abstain, but there's an awful lot that will fight to the death in the Fuhrerbunker.
One CNBC commentator called it a “kindergarten-level understanding” of international trade.
https://x.com/thedailybeast/status/1907828241303248910
If that's your level...
(And stop being pointlessly aggressive)
He then rinses and repeats the exercise at will and the question then is
Who is to stop him ?
“I am the punishment of God. If you had not committed such sins, God would not have sent such a punishment as I.”
Fortunately for them, he was more keen on ransom than massacre, on this occasion.
Brings back memories of Brexit.
First of all we had promises that there would be amazing deals and lower prices on day one.
Then, it was 'short term pain for long term gain.'
Finally, with opinion having turned against it, it became 'it wasn't done properly' America, that's coming next.
https://bsky.app/profile/dirktherabbit.bsky.social/post/3llytxpxsx222
Also @Scott_xP really IS a ludicrous moron
I can, perhaps relatedly, recommend the Chateau Denovie Moldovan Saperavi in the poshest supermarket in Almaty, Kazakhstan
FTSE closes with worst drop since the pandemic. Trump is literally proving worse for the global economy than a killer virus.
https://x.com/DPJHodges/status/1908200294657179860
"The UK's choice for the next ambassador to the US, Lord Peter Mandelson, has described his previous criticism of Donald Trump as "ill-judged and wrong".
Speaking in an interview with US broadcaster Fox News, he said the new US president had won "fresh respect" from him, adding he was "quite confident" Trump would approve of his appointment.
As part of the process Lord Mandelson's credentials have to be presented to Trump, which the president is reportedly expected to agree to.
In previous years, Lord Mandelson has described Trump as "reckless" and "a bully".
In an interview with an Italian journalist in 2019, he described Trump as "reckless and a danger to the world".
This followed a 2018 interview with the Evening Standard where he described Trump as "a bully".
But he told Fox News, external: "I made those remarks six years ago in 2019, led rather along this by an Italian journalist... it was a time in Britain by the way with very fraught politics and there was high emotion about many things in Britain at that time.
"I consider my remarks about President Trump as ill-judged and wrong."
https://www.bbc.co.uk/news/articles/clyek73ly70o