Global Bond Yields DROP. Inflation Continues To Rise. PLUS IMPORTANT UPDATES. Mannarino
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Before this train runs out of track, some group or groups must educate the politicians currently in office who are willing to listen to the facts and the relevant solutions to put forward bills. No time to wait for another election!
Liz Truss former UK PM, that of lettuce stock has just called out central banks - thought politicians did not do this?
Liz Truss warns against 'vicious circle' of state spending
Liz Truss continued: "I fear that our countries are becoming social democracies by the back door. And we've ended up in a culture where too many people and too many businesses expect a bailout. Now one of the core beliefs of Margaret Thatcher was the belief in responsibility.
"It's the idea that it's down to you how you get on in life through your own ideas, through your own hard work, through your family, that's how you get on in life. But I think that notion has been eroded."
Many people "didn't feel the full responsibility" for what they had done in the financial crisis, Ms Truss added, which she claimed had led to a culture of entitlement and led to further bailouts in Covid.
"I've got a problem, I'll call the Government! My business is failing, I'll get on the phone and sort it out! My investment isn't doing very well, it's the Government's problem! I need to buy a house, I'll get help from the Government! But I can tell you as someone who's worked in government for many years, it's not sustainable, and it's not the way forward.
"I don't think people quite understand how big the Government's got... Virtually half of every pound in Britain is now being spent by the state. It all makes the eras of Bill Clinton and Tony Blair look like some libertarian paradise and I really worry if we don't change course now that those figures are just going to get even worse... It becomes a vicious circle. And this has been aided and abetted by the central banks, pumping more money in and keeping that system going."