Liz Truss Goes Head-To-Head With Robert Peston
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- เผยแพร่เมื่อ 26 ก.ย. 2024
- At what point did Liz Truss know her days were numbered? Have politicians given away too much power to the Bank of England? Does she really believe that cutting taxes raises money for the government?
Liz Truss joins us in this episode of The Rest is Money, the first of a two-part interview, to give her side of the story and set the scene on the days before her her fall from power.
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The boundless arrogance of this woman. You sacked the senior treasury civil servant who was trying to tell you the risks. You did not consult with the BofE or OBR before your your budget so how could they have warned you. Your argument is "Neither I nor my chosen chancellor had a f***ing clue how the financial markets worked so how could it be our fault"
So the elected politicians are beholden to the unelected and unaccountable civil servants, Bank and OBR? Doesn’t sound democratic to me
Derivatives are organized criminal casino transactions. The BoE is a co conspirator
In what 25 years ago was a Capital Crime against humanity nearly the same as
Murder or mass murder or genocide or DEMOCIDE... Aka known as artificially indemnifying the monetary system with a self perpetuating secret TAX on every human. Activity known to mankind.
An "Insurance CASINO" ...TAX....
slowly stealing $$£££'s Trillions since
2008-9. Whereby, a least
$$100 TRILLION is secreted in off shore
HEDGE FUND ACCOUNTS hiding
Insane amounts of Capital OUTSIDE
normal fiscal and monetary balance sheets....aka as STEALING and avoiding
Normal investments and TAXES and creating in sustainable INFLATIONARY
PRESSURES that lead to WORLD WARS!!
throughout all economic world history.!
PS: f the BoE and their supporters of pure EVIL CASINO ECONOMICS.
aka I.S.D.A. rules the World....!
And she was against Immigration and Extinction Rebellion, what a nasty woman.
I lasted 4 minutes. 'Sorry, I was too stupid to understand what I was doing' is not a valid excuse for a national leader, she should be prosecuted for what she's done to this country.
Honest to god, I genuinely couldn't believe it when she said "we just didn't know about it" - her free market economics have built up a vast public-private debt pile over decades and she had no idea how unstable it was despite all the evidence from 2008 and thereafter
I am no economist etc and certainly no fan of Truss but bar massive reputational
Damage what was the lasting impacts of the 49 days of farce on the Uk economy?
The rise in mortgage rates for a start!
@@markberry9957 The rise in interest rates are simply down to a shift in economic thinking after the failure of modern monetary theory for the past 20 years. This had more to do with Gordon Brown than anyone else.
@@markberry9957yeah my reading was that interest rates, across the world, were already on the way up well before she came to power.
But maybe there were other consequences that I’m not cognisant of….
Peston, what is this? I thought you would ask real questions given this major opportunity to hold someone who wrought major damage to people's lives, to account. You handed her the answers to your own questions, and they're all implying it wasn't her fault. This is so strange.
He lets her get away with murder here. Mind you, if you remember his performance during the financial crisis he wasn't exactly honest then either
Appalling interview. Appalling. Preston is a gimp.
TBH, I'm struggling to remember a more incompetent politician. Trying to deflect the issues which were created by them onto another, sums up her 45 day tenure.
It was obvious she was thick long before she was PM.
And the thing is: she isn't going away
She brought tigbitties to parliament, displayed a total lack of spine early in her career and rose faster than the rest of the incompetents as a result. Put that against a non-white candidate in a Conservative party popularity contest and bam. PM material.
Nope. I thought i could do this but I can't. 2 minutes 20 in and she's effectively said she doesn't have a clue. I'm done.
Same, I lasted 4 minutes. 'Sorry, I was too stupid to understand what I was doing' is not a valid excuse for a national leader, she should be prosecuted for what she's done to this country.
Wow talk about opening with an easy leading question!! Fact: liz truss and kwarteng NEVER met the BOE governor. They didn't ask any single question about impacts of their recklessness, incompetence and lack of care.
Why is she being given a forum? I don’t believe that she even understands what she’s saying. I wish that she would just move away from public life.
Shes a total embarrassment. How was she allowed to be in control?
To be fair they voted her in and thankfully she was on her way after 49 long days.
She was 'allowed to be in control' by 81,326 Conservative Party members.
This is a party whose membership is largely made up of pseudo-patriotic, self-interested morons, with a sprinkling of 'disaster capitalist' types with big money and the ability to benefit, in some cases significantly, from the inevitable outcomes of many Conservative Party policies.
Thick Tory faithful.
@@gumusluk05It took the Conservative MPs to get rid of her.
@@johnwright9372they were only thinking of themselves 😮
Worst PM evah.
It was the establishment and everyone else, except her.
Robert Peston gives her every benefit of the doubt, and she still comes across as incompetent
Wasn't it incumbent on Truss and Kwarteng to ask experts of the risks of their proposals, as well as assuming unfounded advantages? It's just not good enough for the then PM and Chancellor to say, 'well, nobody told us this might happen'.
Rishi warned them during the leadership election but they didn't listen
Imagine this, we are seeing her public persona, this is basically her... alow me "BEST" side..
her Tory/Conservatives colleagues know the real Liz Trus, what we are seeing now, why in the WORLD WOULD YOU VOTE FOR HER TO BE LEADER OF YOUR PARTY?????
my god
This interview shows she should never be allowed anywhere near power again! She has learned nothing!
Why would she want to consult with the BoE when her Tufton Street bosses had already told her to do it?
She should be jailed for this level of incompetentance and total misunderstand of the financial system
Why on earth in a democracy would we be locking people up for making mistakes based on firmly held but legal beliefs? #ThoughtPolice
Belongs in jail,
along with the Brexit con artists.
She still doesn’t get it. Unbelievable.
Just a word salad. I struggle to see how she could ever have held down a ministerial job.
And she was the best the Tories had!
I'm genuinely confused as to why she isn't in permanent hiding. I certainly would be.
She’s at a local pub tonight trying to flog her book. I do hope they realise that’s me never to again set foot in the place.
When your career is in tatters you get desperate and sell your soul to the devil
No shame or awareness. She's too thick to get it.
She is the most dangerous woman in British politics
The engine is running, but no one is at the wheel, you can see it in her eyes. haha. Worst PM ever!
Okay so my brother is a quant, in interest rates specifically. And is rather amused at what he says is excessive blame (to Truss). The actions of primarily pension funds was always going to happen, and was somewhat predicted (prediction of course does not mitigate per se). So it didn't matter who was in charge etc it was going to happen.
That said, he still (as do I) stand by that her policies would have been disastrous, because her policy was to accelerate economic growth during a an inflationary period, which is generally considered dumb. Least we talk of her non economic policies...
This woman is priceless nothing is her fault, it’s always someone else, very Trump like.
Just disappear Truss in disgrace….
First 60 seconds she's literally pooing herself
Did she write these questions herself?
Why are you giving her a platform?
History will completely fk her. We need this evidence
To take her to account for her mistakes. People don’t go away just because they you don’t have them on your show. Better to understand where people are coming from and rebut them then put your hands in your ears and pretend they don’t exist.
Liz is certainly the thickest but Cameron is still the worst PM ever for damage done. Crazy Brexit referendum and illogical anti Keynesian Austerity has left everyone a Staggering £10,000 per year worse off.
Liz blaming the BoE, sort of sums her up. She failed to allow time, and bye passed the groups who do the due diligence. And then blames them for not saving day. It’s a bit like setting your house on fire, and then blaming the firemen for not putting it out in time.
When was Minford last right about anything?
One word too many. No need for "last".
Here's a summary: Anyone's fault but mine
Well the party of personal responsibility never take any responsibility when it all goes wrong. Look how they portrayed the banking crisis: it was everyone else's fault but their spiv mates
Not her fault.. obvs.. utter incompetence. End of story.
How have I never heard of this podcast? Instantly subsicribed.
Goalhanger podcasts are taking up way too much of my life.
Please get Kevin Bridges if you ever decide to do The Rest is Comedy.
Would also love The Rest is Journalism if you're looking for ideas.
You have made our Friday!
Not knowing is no excuse.
You had all the expertise advisors
Combination of arrogance and complete INCOMPTENCE!
Other than her friends and family……I bet there isn’t many people in the world who thinks she has a serious understanding of economics.
The wild thing is….she thinks she’s incredible lol
why are you giving this woman a platform
I laugh every time she says "I'm trying to answer your question" when he tells her she is wrong.
A country run for the wealthiest. Doesn’t matter what anyone does it won’t change.
"I didn't know" - you didn't know because you NEVER asked.
You can hear the lack of awareness in her voice, and see it in her eyes and manner. Low grade, low calibre politician. Shows how low the tory party has gone and how far from its roots. Thatcher would be spinning in her grave.
“I didn’t know how the economy worked” is not a valid excuse for a PM!
Nor a Chancellor.
who get rid of Liz Truss. Liz Truss 😁
There sits a woman living in retrospect
I've found the discussion of the circumstances around the mini budget kind of fascinating but this really doesnt help her case. Was the point of the interview to say "look, the weaknesses in the pension market are fascinating but even if the mini budget was made worse by that it really was a bad idea from the desk of someone who had lost the plot to a dangerous degree"?
Who profited from the crash? Who had inside knowledge? There has been no public investigation into certain speculators who did very well by shorting the market just before the mini budget.
A fair point is the BoE …..
House inflation they don’t cover but neither does the treasury. Pension increases don’t cover inflation either and poverty isn’t angled to ensure it’s never too bad.
Do politicians or BoE employees have any poor friends to talk about their lives or do they only and exclusively have RICH friends to benefit their friends and families and themselves.
Why would a politician want to know how the poor can have real meaningful help. When they get donations from rich ones.
I am not rich nor poor but a politician has never asked me ever in my 40 years of adult like anything about me.
They all, from councils to MP’s tell you what to believe and say “ you musnt think that”, they only have their own vanity to please. Because so few of us vote for any of them.
75% of us didn’t bother this last week to vote.
Jesus bloody wept . And she makes a living out of politics!
The lady running our village post-office has a clearer grasp of basic economics than Liz Truss (and that's damning her with faint praise!). I've heard a more insightful ecological analysis of fracking than Truss' while waiting in the queue for a haircut.
Truss' disastrous miscasting into the role of PM was a miopic piece of governmental mismanagement. This is the only element in her car-crash "mini-budget" for which Truss can't reasonably be blamed; she is clearly intellectually inadequate to hold the top job and should never have been able to occupy the post.
She looks thrilled to be there
The whole issue is Liz’s Truss follows what she ‘believes’ rather than facts. Betting on Fracking is obviously unpopular.
I'm no supporter of Truss' views, but am baffled as to why just because she failed in the manner and scale that she did and holds certain views that many find profoundly disagreeable, that suddenly she should no longer be allowed to contribute to discussions?
She should have and has the right to speak, but society hopes that our platforms and focus can filter out danger and distraction such has incompetence or people that deliberately mislead for personal gain.
For such a respected journalist and platform to give her airtime could be seen as legitimising her views...which could end up with her back in power.
If one listens to anyone talking about Truss, and to Truss herself, there is a theme that she does not listen to anything or anyone that is not consistent with the view she has already formed. While I cannot rule out the possibility that the Treasury and BoE withheld information from her so that she would drive herself off a cliff, it seems equally, if not more, likely that she wouldn't have changed her mind had she been told. But, in any event, you can't have people messing with an economy when they don't know what they are doing, and don't have the basic ability to ask questions that stop themselves from screwing it up.
Utterly terrible human being.
Oh so it’s everybody else’s fault, not yours? Of course if you hadn’t sacked your Treasury secretary, you may have been able to take some advice. Who’s the grotesque failure here? #liztrussisanumpty
I am thinking the back of a postage stamp and knowled😮ge of Economics!
Five minutes in and I'm amazed that Peston is failing to confront her with her own arrogance and stupidity. I'm out of here.
The top 1% would love her - more money for them!
All the rest of us know that trickle down economics doesn't work.
Robert you failed to help her understand the problems in her ideas/ arguments - or maybe you didn't want to???? She lectured Robert for the whole 45 minutes. Shame.
“The reason I did such a terrible job is that I didn’t know what I was doing. That is everyone else fault for not telling me how to do the job!”
She should be in jail, not spewing nonsense on a mainstream podcast, why are you giving her air?
Someone one help me out here. The Bank of England made the decision before the budget! Please, someone explain how they screwed up, I don't understand
I don’t know what she’s talking about - and neither does she
Robert, when can we expect a follow up in The Whistleblower series? Loved The Crash.
Ok 5mins 32 secs and this had to be switched off
thick as mince.
Dealing with PLANNING hmmmmm I can’t deal with planning BUT A GOVERNMENT CAN it just WON’T
I cant watch this its too much
Who Killed Liz Truss? Sadly, no one.
sniff sniff..what is that smell..oh yeah bullshit1!!!!
"dealt with first"
Your free market economics over decades have created a massive public-private debt pile which you nearly tipped over. You know you're at the end of a particular system when the ideologues just can't face up to what they've done
"we simply didn't know about it"!!!!
She still doesn’t have a clue. Air gapped
This is Terrible by Peston, 8 minutes in and that's my last watch. Weak as water.
She made a fortune for herself
are you kidding me? what type of interview is this? leading softball question after leading softball question, occasionally interspersed with blame shifting
this definitely is not an example of journalism holding power to account, more like “journalism” being leveraged as a platform for giving power an easy out
would have much rather seen alastair and rory interview her
It makes you wonder how she got herself to the top!!!???
I did try to give her the benefit of the doubt, but ended up thinking she is delusional
Very disappointing to see this person having a platform.
Absolute joke as usual blaming everyone else for her incompetence
How's her book sales doing?
How is this woman still getting air time FFS ?
Rishi warned her not to cut taxes when inflation was high at 11% in July 2022 during the leadership election which was unfunded (we all know how that turned out), this year he warned against Labours 28 billion per year green plan which would lead to higher taxes, so they were forced to U turn on their major flagship policy. Shows you his competence when it comes to managing the countries finances. He is a details man which is a very important quality for any PM to have. Rishi worked in Goldman Sachs and on hedge funds, so he knew her plans would cause chaos.
I fail to see how Rishi Sunak ia a ' details man', in fact there's more evidence that he has a low level of integrity e.g. doing a complete 180 turn on Rwanda at the cost of several hundred million and rising.Yes, he warned against cutting tax because there's no empirical evidence that this 'trickle down' economics has actually worked. Your comment about the labour green plan is just that your opinion, in fact the 'green plan' is about stimulating and growing the economy in a sector in which we need to invest and expand in the long term.
@@nigelbradshaw1948 The Rwanda plan may just work as seen by the number of people flocking to Ireland at the moment. Also keeps the right wing of his party happy. The Labour party knew the 28 billion figure would not happen so they U turned since they know they will be in power soon and would not be able to make that happen without raising taxes. He is playing his cards well. He has no mandate from the public despite that he has somewhat managed to keep the party together without any challenge over the past 2 years is a miracle in itself. He will lead the party into the general election, that was his plan all along. P.S Imagine this, a guy who is almost a billionaire who's wife was a non -dom and he himself was a green card holder is leading the conservatices into an election without any credible challenge. Speaks volumes of his intelligence.
Um, part of the reason Labour backtracked on the Environmental spending commitments is because of the poor state of the Tories' handling of the economy. Labour made the pledge when the economy was better and subsequent years have made it undeliverable without heavy borrowing.
🤦♂️
R p ud s Tory mouth piece nothing more sounds drunk every time anyone wheels him un front of a camera fact
Why are you giving this ...person any platform?!
Great without "Stef" who is difficult to understand and not a great partner.
Establishment Journalist. All Fairytale Theory with no basis in reality. Actually I had a very positive opinion based on Liz Truss Interview. I think she had some good points.
Truss had the right ideas the system didn’t like her and took her down - peston is part of the system
Oh grow up!