New British PM, Liz Truss, Resigns After 45 Days … Here’s What Happened

Written by Wes Walker on October 20, 2022

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With BoJo kicked to the curb after being right about Brexit but wrong about so much that came after, Liz Truss was supposed to signal a return to sanity.

Truss was expected to pump the brakes on spending and taxes while getting the United Kingdom’s house in order. But she never got the chance.

The UK has canceled its trial subscription to economic freedom almost before the free trial period ended. It only took a few moments for her to make the announcement.

We set out a vision for a low-tax, high-growth economy that would take advantage of the freedoms of Brexit.
I recognize though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to His Majesty the King to announce that I am resigning as leader of the Conservative Party.

She will remain as party leader — and therefore PM, since the current parliament is still in session — until the party can choose a new leader from their midst. It is expected that the new leader will be chosen by the end of the coming week.

So, what happened? In short, America isn’t the only government that has to grapple with a ‘deep state’.

She was about to try the same effective economic recipe that Trump unleashed to bring America to record low unemployment levels across ALL demographics. But she ran into some serious headwinds.

An article describing her tenure gives some indication of what that looked like:

Now Truss faces a mutiny inside the governing Conservative Party that leaves her leadership hanging by a thread.
Conservative lawmaker Robert Halfon fumed on Sunday that the last few weeks had brought “one horror story after another.”
“The government has looked like libertarian jihadists and treated the whole country as kind of laboratory mice on which to carry out ultra, ultra free-market experiments,” he told Sky News.
It’s not as if the party wasn’t warned. During the summertime contest to lead the Conservatives, Truss called herself a disruptor who would challenge economic “orthodoxy.” She promised she would cut taxes and slash red tape, and would spur Britain’s sluggish economy to grow.
Her rival, former Treasury chief Rishi Sunak, argued that immediate tax cuts would be reckless amid the economic shockwaves from the coronavirus pandemic and the war in Ukraine.
— TheDay

She faced exactly the same problem from the British version of RINOs that Trump faced with people like Paul Ryan, ‘Mittens’ Romney and, of course, John ‘Thumbs Down’ McCain.

Typical lifelong politicians — they were deeply offended by the promises she ran on and actually planned to make good on.

“Many of us, wrongly, expected her to pivot after she won the leadership contest in the way many presidents do after winning the primaries,” said Tim Bale, professor of politics at Queen Mary University of London. “But she didn’t do that. She actually meant what she said.” — TheDay

Chaos and uncertainty in the European markets due to energy costs and the war in Ukraine didn’t help any as European currencies, including the pound, cratered in comparison to the greenback, digging the UK’s hole even deeper.

After all of their profligate pandemic spending, made worse by economically-suicidal green energy strageties, national economies have begun faceplanting hard on the grim reality that only way out of this crisis is through it.

Reagan’s economic recovery after the disastrous Carter years showed the world that it CAN be done, but — like having a root canal — such a road to recovery will inevitably include economic pain in the transition.

When faced with the hard reality of the pain it will take to lead their economy through the crisis, her party flinched. What comes next is anybody’s guess.

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