Writing on the afternoon that the British Chancellor of the Exchequer Kwasi Karteng got his marching orders, we are in the midst of another government meltdown in the UK. There has never been a political and ideological project that has worked its way to get hands on the levers of power and been so promptly trashed by the markets and its own people.
Stalker cannot claim to understand all the machinations around gilts and pensions and liability driven investments (LBIs), but the past few weeks since the ‘mini-budget’ will grace economics and politics textbooks for years to come as an instructive in what not to do when you finally attain power.
One can expect more head scratching antics from London in the weeks ahead.
Worryingly what they get up to over there has real world impacts over here and beyond.
