Friday 21 October 2022

'to lose one prime minister might appear a misfortune...' (the black spot has been passed)

on the departure of liz truss in ignominy

look how soft- heated he is. he feels sorry for her. 

that's a harsh and brutal lesson in the opportunism of the financial markets, the british class system, and the utter perfidy of conservative MPs. his heartstrings have not been tugged so much since he saw michael gove alone in a dundee nightclub dancing to techno trying to talk to the youth half his age. 

nonetheless he is glad she's gone (though he would rather have found a less expensive way of doing it than crashing the fucking economy). 

and thus the schlud, the black spot, the runic parchment has been passed and the workers will now have to pay not just for the rises in food costs due to inflation, not just for a proportion of the increased energy costs, not just increased mortgage costs, but for the increased cost of servicing government debt as well. 

there is a way out of it - the debt could be inflated away berin hyperinflation style but this would be a raid on the savings of the workers and the pensioners etc. 

what is interesting is not just that the whole government policy has just fallen apart and with it the post-hoc rationalisations .of various commentators. it turns out that the government cannot just endlessly postpone the paying of debts (as many were arguing) or maybe it could have but it has just crashed that particular bus.

the track we are now on is one of austerity without mitigations, a class war over who gets to pay for the crisis. the interesting thing about this class war is just how far up the middle class this goes - anybody with a mortgage, anybody paying rent.

we may indeed get boris back - on the basis that it is not his fault he was doing his best. 

today a meeting (online) and then the weekend. looks grey outside (but then the sun did manage to shine yesterday).   

  

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