It doesn't matter who the prime minister is. It only matters...

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Kind-1 (TextNote)

2026-06-28T13:32:21Z

It doesn't matter who the prime minister is. It only matters if they are willing to do what needs be done.

The UK government has spent decades doing national giveaways to the super-rich, financed by monetary inflation, government debt issuance, fire sales of public assets, and crushing austerity. The bond traders have finally had enough of the Chancellor stooping to such libertardian nonsense. They know that there is only one place where there is now enough money to ever pay back their principal with interest, and they have sent the UK government the clear message:

What we are asking for is a very large amount of our own money back.

The massive windfall of North Sea gas—which allowed Thatcher to have her cake and eat it, too—is no longer the seemingly bottomless pit of government income that it once was. The incoming chancellor will have to look for the money where it is currently located, or they must face the public and advise them to get used to gruel dinners and a lifespan of 65.

Alternatively, they could abandon all pretense of being a nation state, leave all military and political alliances, rename themselves "Greenland", and hope Trump makes them a deal.

https://0x0.happytavern.co/4022543c589c05beb224b9da718d667567f981c4943effbbe2508f85fba8d9fb.webp

Not that it would help, for long. As the USA might be next on the bond market's list...

#Brits #economy #ChancellorOnBrinkOfSecondBailoutForBanks

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