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 Originally Posted by OngBonga
MI5/MI6 might have significant influence when it comes to national security and foreign policy, but I'm not so sure about economics, so it's not clear to me that they qualify as "deep state".
The word "state" implies it's someone who works for the government though. The bankers don't work for the gov't, the markets don't either. So when a PM announces a financial policy and the markets and banks freak out, it's not because they don't like the PM, it's because they think the policy itself is fucked up in a big way.
In Brains' case, the markets reacted because she announced a big borrowing spree that was going to be used to cut taxes for rich people, with the ostensible purpose of growing the economy (trickle-down economics). This doesn't work at the best of times, but in late 2022 there was already growing inflation and marginal growth, which is a bad time to try to stimulate spending. Don't take my word for it though, there's a blog post here from someone who knows a lot more than I do.
https://www.niesr.ac.uk/blog/truss-k...udget-one-year
There was also the fact that her and Kwarteng ignored the Office for Budgetary Responsibility, which is solely there to keep politicians from doing retarded things. It's as if they knew the OBR would say "don't do that, that's retarded," but because of blind ideology, or corruption from disaster capitalists disguised as think tanks, or whatever, they went ahead with it.
Margaret Thatcher once said "you can't buck the market." And this is what she meant - you can't enact a retarded monetary policy, or even talk like you are going to, and expect the markets to not react negatively to it.
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