Liz Truss is the proof - The Brexiteers slogan was and is bullshit

When I see what has become of Britain, my country of birth, and the party of my heroine, Maggie Thatcher, I don't know whether to cry or laugh. In any case, Prime Minister Liz Truss (you don't need to remember her name, she'll be right out of the window) has confirmed a comment made by Londoner-by-choice Karl Marx: if history repeats itself, it's as a farce.

Truss imagined himself - and sold himself to the Conservative Party members who swept her into office - as the reincarnation of Thatcher. She and her Chancellor of the Exchequer, Kwasi Kwarteng, announced a radical tax cut to boost growth. The budget gaps resulting from the tax breaks for companies and higher earners - and the reduction in social security contributions for the middle class - would eventually be filled by economic growth and thus prosperity. Classic Thatcherism, classic Reaganomics, and very sympathetic to me.

British Prime Minister Liz Truss has come under further pressure in a chaotic vote in the House of Commons following the resignation of Home Secretary Suella Braverman. Tory MPs are said to have harassed members of the opposition during the vote.

Source: WORLD

But not the markets. As soon as the program was announced, interest rates on British government bonds shot up. Lending money to the UK government, investors had decided, was quite a risky business, and one they were willing to pay dearly for. In a panic, Truss fired her Chancellor of the Exchequer and not only reversed the tax cuts, but increased taxes. In the future, companies will have to pay about as much as in Germany. Instead of growth, Truss is now focusing on thrift.

How different was Thatcher! In 1980, when her liberalization had plunged the country into recession and her party into open rebellion, she called out to delegates at the convention: “Turn back if you will! This lady doesn't turn back!” History proved the Iron Lady right. The flexible Mrs. Truss will not even go down in the history books.

Thatcher was not only able to carry out her experiment because of her character; not just because of the character of the country, whose average age was 34 in 1980 and is over 40 today, and the trend is rising. Golf course design, facility consulting and funeral services are today's growth industries.

At the time, Britain was also a member of the European Community, the forerunner of the EU; and Thatcher pursued a policy of pegging the pound to the Deutsche Mark. Until 1992, when Britain was forced out of the European Exchange Rate Mechanism, its close ties to Europe had a calming effect on international markets.

So perhaps Truss could have carried out her radical reform and defied the markets if the country had remained a member of the EU, even joined the eurozone. But she made something clear that could perhaps earn her a footnote in the history books: the Brexiteers’ slogan – “Take back control!” – was and is bullshit in plain English. Britain is controlled by the financial markets, not Parliament. The farce at Downing Street does a poor job of concealing this tragic truth.