Tories work hard on tanking the UK economy



Financial Times (paywall):

Pound falls below $1.09 after Kwarteng’s £45bn tax cut package

Kwarteng cuts the income tax ceiling and lowers the property tax rate, but gilt yields rise on fears of government borrowing
The Institute for Fiscal Studies think tank predicted public borrowing would surpass £190bn this year, the third-highest since WWII in the New Year,” while trying to reassure markets he has a strategy to reduce debt as a share of gross domestic product. “The danger is stifling growth. That’s the danger. The only way we’re going to deal with it is to stimulate the economy.” In response to the financial turmoil that followed his testimony, he said: “Markets move all the time. It is very important to stay calm and focus on the longer term strategy.”



Isaac Chotiner/New Yorker:

What Putin’s mobilization for the war in Ukraine means

The Kremlin announced a draft to dramatically increase its combat effectiveness. Will the Russian public fight back?

To talk about what the mobilization might mean, I spoke by phone to Sam Greene, Professor of Russian Politics at King’s College London and Director of Democratic Resilience at the Center for European Policy Analysis. He is a co-author with Graeme B. Robertson of Putin vs. the People: The Dangerous Politics of a Divided Russia. During our conversation, edited for length and clarity, we talked about what Putin’s announcement about his view of the war signals, how much Putin fears right-wing Russian nationalism, and how to assess the views of the Russian people.


Anne Applebaum/Atlantic:

The Kremlin must be in crisis

Putin’s unpredictable actions are not those of a safe leader.

In part, the crisis stems from Putin’s fears that he will lose everything that counts as his international support. No ideology holds the global club of autocrats together, and no feeling either. As long as they believed that Russia really had the second largest army in the world, as long as Putin seemed destined to remain in power indefinitely, the leaders of China, Belarus and Kazakhstan, along with the strongmen who ruled India and Turkey, happy to tolerate his company.

But Putin’s supposedly inevitable military victory is in jeopardy. His army looks weak. Western sanctions are causing problems not only for him, but for him too trading partners, and their tolerance is decreasing. At a summit in Uzbekistan last week, he said was snubbed by a number of Central Asian leaders. Indian Prime Minister Narendra Modi Told him that “today’s era is not an era of war,” and Chinese President Xi Jinping expressed also his “worries”. On Monday, Turkish President Recep Tayyip Erdoğan told PBS that he had urged Putin to end the war: “The occupied countries will be returned to Ukraine.” And those countries, he clarified, should include Crimea, which Russia annexed in 2014 after a sham referendum, similar to what is now happening in other parts of occupied Ukraine it’s planned.

But while losing support abroad is bad, losing support at home is worse, and there are some signs of that too.

Daily News from Anchorage:

The judge rules that Wasilla’s legislature is unlikely to be eligible for office due to membership in Oath Keepers and delays certification of election until the trial is complete

An Anchorage judge said Thursday that based on the limited evidence presented, Wasilla Republican Rep. David Eastman is unlikely to be fit to hold public office, but his name will remain on the general election ballot and voting certification is being held pending a trial scheduled for December.

Randall Kowalke, a former member of the Mat-Su Assembly who filed the lawsuit, has argued that Eastman’s membership of the Oath Keepers contradicts it Constitution of Alaska Disloyalty clause preventing a person from holding public office in Alaska who advocates the violent overthrow of the US or state government. Was the leader of the Oath Keepers and several affiliated organizations calculated or charged in connection with her involvement in the January 6 attack on the US Capitol.

Judge Jack McKenna granted the injunction Thursday afternoon and said based on the evidence presented, Kowalke would likely be successful in arguing that Eastman is a member of the Oath Keepers, that the group is active and that they are currently trying to overthrow the US government.


Walter Shapiro/TNR:

What Joe Biden could learn from Harry Truman

He could learn a few lessons from the last Democratic president who enjoyed fighting with Republicans.

Imagine the scene in Dexter, Iowa, in mid-September 1948 National Plowing Game, which was a big farm belt event back then. In front of a skeptical crowd of 80,000, Truman declared in Hell style, “Wall Street reactionaries are not content with being rich. They want to increase their power and privilege no matter what happens to the other. They are privilege eaters. These privileged gluttons are now raising staggering sums of money to elect a Republican government.”

I don’t expect Biden to ever feel comfortable with lines about “the gluttons of privilege,” no matter how accurate the description of America’s economy in 2022…

Class struggle does not come naturally to modern Democratic presidents, especially when speaking to the party’s donor class. As a result, Biden’s style is far less confrontational. “We understand something that Republicans don’t understand,” he said Sept. 9 DNC fundraiser. “Wall Street didn’t build this country. Working people, the middle class built this nation. And I have news for you: unions built the middle class.”


Religious Intelligence Service:

Southern governors sending migrants north face a crisis of faith

It is becoming increasingly difficult for a politician to adhere to Christian morality and be elected President.

No one will deny that America’s immigration system is overburdened and in need of serious reform. And the southern states are bearing more of the burden of this broken system simply because of geography. But misleading migrants and sending them where resources to help them are both scarcer and less readily available is at odds with the basic tenets of the Christian faith, which require that all people, regardless of nationality or citizenship, be equal be treated with respect and compassion.

Commenting on DeSantis’ stunt, the Catholic Archbishop of Miami said, “Immigration is not just a political issue, it is a fundamental human and moral issue. Because the immigrants are not faceless numbers – but human persons. They are our brothers and sisters; Justice and prudence requires that we treat them with dignity and find a reasonable way to have their contributions and presence recognized within the law.”


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