
Liz Truss Is Finished
For 40 days, Prime Minister Liz Truss of Britain has ridden a roller coaster of ridicule.
Her “mini budget”, on which she hung her free-market credentials, was a disaster: Bond yields rocketed, the pound tanked, and the markets, far from gratified, were distinctly upset. To mitigate the damage, she reversed a tax cut for high earners — and was rewarded with more mockery. At the Conservative Party conference, protesters played loud clown music, and the police refused to intervene, as sure a sign of a failing administration in Britain as the storming of the Winter Palace in Russia.
Embattled, Ms. Truss raged against the “anti-growth” coalition, opponents of her supposed revitalization of the British economy through tax cuts.… Seguir leyendo »