Unpacking the Government’s DISASTROUS Mini Budget
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- Опубликовано: 26 сен 2024
- Russell unpacks the Government’s Disastrous Mini Budget.
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I saw a homeless family today sitting on the street outside a bank, I was so moved I had to dash inside and give the bank manager £100 I'm sure it will trickle down to them quickly and stimulate the economy at the same time!
You've explained the absurdity of the situation so well!
“They’ll just spend it on drugs” what do you think I was going to spend it on?
Like the band aid money 🤑
🤣it's not funny but great point made
@@itookallthenames don't be so judgemental, they might just spend it on special brew! 😂
I'm more a fan of "Pinata Economics", where instead of fruitlessly waiting for wealth to trickle down, simply beat the rich with blunt instruments until the money flows.
my next house after eviction is a nice tory 3rd home in the country
I'd pay good money to try this
🤣🤣 Piñata economics! Love it!!
Not all millionaires or billionaires are bad or evil though and it's not their job to help you
@@josephdavey7182 nah you don't get that rich without exploiting low income workers it's literally impossible. The principle of amassing wealth within a consumerist, capitalist society requires that some people work for very little money. Poor people are very profitable as long as you keep them poor.
Trickle down:
Buy the wealthiest guy in the restaurant a meal and hope to lick his plate after he's done.
Very brilliantly said!
His arse more like after he’s been
Except that same wealthy bell-end is then given the power to snatch the plate away and shatter it on the ground because “life shouldn’t come with HAND-OUTS!!”
"millionaires don't need help"
Truer words were never spoken
They clearly need help with greed.
I'll help them get that money back into the economy
Millionaires who run businesses need incentive not help. Incentive to invest.
@@mogznwaz lol mate. Same millionaires who keep getting caught out literally funneling money out of this country to avoid paying tax on it?
Nah mate. You don't bribe a parasite to get it to stop feeding on you.
You don't get rid of rats by putting better food outside your house.
If anything that just brings in more rats. And trains them that the worse they act. The more they're rewarded.
Everyone seems to forget that all these whining lefties, including Russell himself are ALL millionaires too!
I recently heard someone use this to describe Truss "She's so dense, light naturally bends around her"
that's a Malcolm tucker line from the thick of it
I'd pay good money to see the king do a backflip
Shame it all went towards some rich ostrich's monocle.
Yes off a cliff.
They already paying him to do bullsh
King ??? It wasn't sooo funny ..... Your PM is genius ????? A Hero smile 😁
Cost u more than a pound 😆
Probably the best explanation of "trickle down" economics I've ever heard. My economics teacher told me it was bollocks 30 years ago. But he wasn't that catchy - really wish he been 🥰
Woody Guthrie summed up trickle down economics 90.years ago,
"The more you eat, the more you crap."
Your economics teacher was wrong. Trickle down is not 'bollocks', it is a misinterpreted criticism of supply side economics.
@@martynblackburn9632 So in other words... bollocks?
@@TalesOfWar No. Not bollocks. Supply side economics is real and we've been doing it for decades.
@@martynblackburn9632 And it hasn't worked in those decades.
What I find hilarious is that no one benefits for Truss’ mini budget. Higher income earners do indeed save some tax money but their pensions and savings are being wiped out simultaneously (assuming these are invested in foreign markets which most are). So in reality, the people she’s meant to be helping are actually more worse off despite the tax cut. Hats off to her. I didn’t think it was possible to introduce a policy that helps exactly 0 people in the country.
Well, Truss does have history. She promised to build 200,000 houses in her previous portfolio, and built EXACTLY ZERO.
I.R the rich have private pensions and so much money it really does not matter
@SG for.
It's actually a continuation of a fascinating trend in "conservative" economics. Policies that explicitly benefit the rich generally harm the middle class, which has a knock on effect of shrinking the number of buyers in any consumer level market. When everything contracts, the _overall_ amount of wealth that can be made is smaller. Overall effect: the rich get a larger _percentage_ of the wealth, but since there's less wealth to be made anyway, their overall earnings can _shrink._
So then what's the f-ing point of benefiting the rich?
If they are invested in foreign markets then they made money... if they were invested in the UK then you're right.
when someone tells you the UK is a democracy, tell them this:
"We have an unelected head of state (king Charlie) and a PM who was voted in by 0.2% of the population"
The king is a constitutional monarch with very little actual political power.
Our governments are still chosen by general elections (admittedly with a terrible FPTP voting system).
We are not Saudi Arabia.
Yes.
@@EightThreeEight Our (Australia) 2 party preferential system doesn't get any better results.
Another plus for Charles is that he is a man, despite his faults is a genuinely kind man who does a lot to save Industry. We have a Pot Bank in Burslem, Staffordshire that he saved from going under and helped to make it a success, it is now a thriving business that employs local people. It has it's own shop selling it's wares and a museum. It has also been seen on the Drama Peaky Blinders as the building and the canal fitted the time period it was set in. It is also home to the show The Great Potteries Throw Down seen in many counties now around the world and has a massive fan base.He still comes to visit to see how things are progressing and the people who work there say he takes time to speak to them all about how they are and what projects ts they are working on. Not many people would take a interest like he does? That Andrew would'nt and neither would the narcissistic Harkles H&M who
care only about themselves and what's in if for them, they hate the common working class as they call us. I can see William and Kate taking over the visits when Charles gets a lot older and unable to do so. They are very popular and caring and are only too happy to speak to everyone working there. Won't find William and Kate shunning people like his brother, uncle and their gold digging families.when the time comes William and Kate will make a wonderful King and Queen Consort. Reckon it's time for King Charles to follow in the footsteps of Queen Margerite of Denmark and remove the titles off all none working senior roles and grandchildren who are not in line to the throne like William, George and Louie when the children are of age. Princess Chaotte is in line to be The Princess Royal should Anne die as Charlotte is growing up. Our late Queen has already made arrangements for this to happen when her beloved daughter joins her and her father in Heaven. A lot of Royal's will be very unhappy and we all know which ones they are, H&M, their kids, Andy, Beatrice and Eugenie and a lot of other hangers on. I reckon Charles will wait until Harry's book comes out, wrote by HER as he lacks the intelligence to go think for himself. That's when they won't know what's hit them and they can't do a thing about it. After the way the gruesome twosome and lardy ass Andy treated his parents and Harry his treated his grandparents they deserve everything they get and only themselves to blame for bring greedy,jealous,lying hypocritical parasites, have no sympathy for any of them.
@@EightThreeEight Except for the fact that they can shut down other people's funerals because they want the whole country to focus on their own, they can spends billions of taxpayer money on their house and on bailing his pedo relatives and friends out of prison. They've got enough power to abuse the people still, even if it's not politically.
It took Thatcher 5 years to crash the pound...
It took Liz Truss just 2 weeks.
An outstanding achievement 👏🏻
Technically it was about 3 days due to the national mourning period
A Guinness world record right there
Except it didn't crash at all. It rallied back to trend within 3 days.
@@chinapig71 it totally crashed and needed the bank of eng to borrow 65 billion to shore it up...
@@NeilBlaiberg ....and rallied back within 3 days . LIKE I JUST SAID.
Their reasons for the tax cuts as well are economically illiterate, it doesn't stimulate economic growth if you cut taxes on the rich they just save that money as they already have savings to spend money on stuff. Whereas if you give the poor a tax cut they spend 100% of the money as they need to live some will spend more than 100% (small businesses loans, mortgages etc). It's called Marginal Propensity to Consume and is basic economics.
Why would anyone bother to do a job that's taxed at 60% if you can earn a bit less and be taxed at 20%? You will also get these high earners going to other countries where tax is less, so you'll have a 'brain-drain' to also contend with.
@@6chhelipilot four things 1. We have the evidence when we drop tax people don't flood in, the tax revenue drops 2.
it's not 60% 3. what countries top tax rate is 20% that you'd like to live in? 4. I don't think you know what a progressive tax is, judging by your comment.
@@6chhelipilot can you tell me a tax cut that has increased revenue that was 45% to 40%? Also do you know what a progressive tax is? Also what country that is good has a 20% top tax rate...
The reason they actually made the tax cuts was because it suits liz, she is a narcissist that can’t think past herself.
yes it does stimulate growth - it is a proven evidenced fact
Never thought Gordon Brown making the Bank of England independent would save the nation from economic collapse in 2022
Most modern western democracies have an independent central bank
Labour’s first job, almost day one in 1997, was to give the Bank of England independence
The Tories used interest rates as a political football before, I know I bought my first house in 1985
You can’t seriously be this uninformed.
We have never recovered from the debt labour put us in you muppet
@Moonraker repeating what? Facts?
@@dannygmtg how is it a fact that it’s saved us from economic failure…. Go on make me laugh. Show me how there independence has helped…. Oh regardless of the boi we aren’t even in recession…..
the PM knows she's not gonna be there long, so she's gonna do everything to make herself and her friends richer. In a few months she'll say it didn't work out so good and leave the cesspool to the next PM.
Exactly, I consider it to be a form of extreme insider trading.
I literally said something similar and then saw your comment. That's exactly what she's doing.
Also, screw the country then blame labour a day after they get into power. Also, Labour will have to do unpopular things to stop total collapse.
And drum roll 🥁 🪘 SHE GONE 🎉
This man was a Prophet holy shit😂
What a lot of people don't seem to understand is that this is exactly what Truss and her Chancellor knew would happen, and wanted.
Agreed. Foreign investment nonesense.
I predicted she would be elected as their PM, not because she is any good, but because she will do what she is told and her competitor was not white enough. her chancellor and her sponsors[the obese investment guy and Mogg] have coined it in to the tune of £100's of millions.
And this Dizzy cow is their patsy.
It is a massive con job and needs investigated by some serious policemen[wearing suits and with brains - not uniformed clowns].
No I actually disagree. I don’t think they had the slightest clue this would happen. And that’s the problem. They’re so incompetent.
@@IR._ it is all laid out in her book Britannia Unchained.
PtolemyJones…well, quite…tank the economy: all their money & their donors' money is safely off-shore. The Tories have always been a bunch of mendacious shitlords but this is what happens when they scrape the bottom of the bottom of the barrel for ERG puppets…we are so f*cked! ❤️🏴
Educational and hilarious at the same time - Howard is very underrated.
@The Yorkshireman Reacts elaborate? Also why are you here?
@@Thawhid I was thinking the same lol. It's pretty normal to come across weirdos online nowadays though so tend to just ignore it.
@@shahliker1095you're right I should ignore these creatures. But sometimes I'm curious as to why they're so sad and toxic.
Even when I'm feeling really low I never click on a video or topic I dislike. Why t f would i waste my time on something I dislike? It confuses me mate ygmygmygmygm
Honestly the humour is pretty mediocre
Thank you for that wonderful lesson on Reaganomics if anyone in Britain is curious as to seeing trickle down economics work in the exact way it's not supposed to please look at the us we've been trying to do it for 40 years
If trickle down worked. Victoriana Britain would have been a paradise,not the mixture of hell and Belsen that it was.
See Britain and the USA have a lot more in common than most people think. We are both run by idiot government.
As an American peasant w/an economics degree, I can’t hear the term ‘trickle down’ without my eye twitching a little 😅
I would also point out the point of the cap was a reaction to the 2008 crisis to make it less likely to happen again
Did the banks ever payback the bailout?
The cap was pointless, gesture politics. Banker just got pay rises to their base instead and still get large bonuses (just not as significant a multiple of salary as previously) - most bankers loved it.
The US tried this several times since 1980 , it gave us Bezos and Musk
And two wars decimating the lives of millions of people in Iraq and Afghanistan. economic collapses in the US heartland, fentanyl epidemics and Trump.
To be fair emerald mines in apartheid South Africa gave us musk.
The LNP quoted it and was instantly voted out by Australians... was soo proud of my country.
Trickle down economics was a lie in 1980, and it's still a lie today. The truth is wealth trickles up, and always has.
Leaders like Reagan are proof that charm and deceit will always profit more than hard work and integrity
At least Musk made a working rocket
It trickles down when poor people get pissed on. That’s the trickle
Trickle down economics destroyed America. Resist it at all costs!
I think they should bring down the retirement age to 55 and put up the pension wage. The pensioners then spend and enjoy there hard earned rest, while new jobs for the younger generation are created.
Trickle down and austerity measures are known as ‘zombie-economics’. Ideas that have been proven not to work but refuse to die
Reminds me of black adder explaining ww1. "There was just one tiny flaw with the plan, it was bollocks."
The pound plummeting wasn’t a disaster for hedge fund managers. Lovely stuff.
Hedge fund managers don't pay income tax...
So good to catch up on the show need a good laugh and you've always delivered, couldn't be more spot on with the whole situation we're in... they fucked it!!
'Trickle down' just means; still getting pissed on. But from a greater height.
That bloke who tried jumping the sign now has 3 Adam’s apples 😂
She is not bothered about being unpopular because technically she was not voted for or elected by the public was she?
nope, she is technically the 3rd PM to be forced upon us since Cameron rage quit.
We may have the shortest term length of a prime minister that has never been seen before in British History
Technically she is extremely popular....amongst the people financially capable of buying up and consolidating smaller operators into their portfolios when the economy tanks. That's what happened in 2008, those with the means just bought more of the monopoly board....
She knows her term will be short, she's laying the foundation for herself so afterwards the rich people she's helped would sort her out financially
PM's pension + police protection for life, plus probably a couple of cushty jobs on the boards of energy/services industries. Laughing all the way to the bank
Russell. On Friday Tory Mp Will Quince came to visit my college and our politics class quizzed him on the government budget and other government doings. We completely brutalized him and had him rattled in such a state where he could not actually answer them and had a complete meltdown. He was trying to defend the undefendable as most Tory MPs do.
Good fucking job
the sad thing is that he'll continue to believe in these stupid policies even after being completely debunked. This is proof that the only thing tories are interested in is lining their own pockets
One issue, ALL mps do even labour, greens or any politcal party. And no, you didnt have him come see you at school. His diary is public you know. Qlso why tf would anyone listen to kids who think they know thw world 😂😂 pipe down
@@scrummpybear i mean, a "meltdown" insued, so tell me what you think about TaxGate
@@prcxiale1124 i think they should all be sent to mental institute cause they aint thinking right. Doesnt mean this kid was telling the truth. Kids know nothing about a mortgage, or energy bills, so how would they break anyone?
The pub is actually called Gordon Bennetts, which is still rather fitting 😂 And there is actually a pub around the corner called The Grapes.
King Charles doing a backflip? I WOULD love to see that. But I fear not… lol
A super fit monarch that could do back flips would be pretty cool.
When comedians know more than politicians.
Money cannot " Trickle Down " when it is in a Off Shore Account !!!!!!!
It's "offshore" actually. Please learn to write.
My fiancé just said she looked like emperor palpatine when laughing 😂 I love her
When Reagan tried this in the '80s, it was called VOODOO ECONOMICS.
Trickle down economics is like filling the top of a bucket before you fill the bottom, which is impossible unless you find a way to suspend the water at the top of the bucket.
Liz is prepared to be unpopular. Well that's good. Shes made herself unpopular, FOREVER! Well done.
I don’t think it’s a coincidence that “Liz Truss” sounds like “distrust”
Can't wait for "ding dong, the witch is dead" to top the charts again
If my memory serves me right, BBC did played that song (maybe by mistake) sometime around Thatcher funeral
@@AnotherSoldier whOops!
Man I have never laughed so much at politcal comedy since John Stewart. Thank you.
I love how unrealistic that gun sound was
I reckon it was supposed to be cartoonish because it's a comedy show delivering depressing AF news...
It's the gunshot sound from goldeneye!
@@W1gglePuppy Someone in the studio was fairly cultured then
@@W1gglePuppy It's the gunshot equivalent of the Wilhelm scream.
That Lewis Capaldi clip had me in tears. Bloke really doesn't give a shit.
He does actually suffer from Tourettes
At the time of writing this comment, this is #1 on trending. Good job Russell!
Imagine Trickle Down Economics as a Golden Shower for those on a lower socioeconomic status.
Trickle down economics best analogy, is like those pets that wait, under the table, while their owner is eating, to pick up any dropped scraps. Other can be when, in the middle ages, servants waited for the lords to finish eating, to pick up whatever their master left or dropped.
I’m no Tory but Rishi warned that the market would tank
it was a choice of getting him who would fuck the poor because he's a scumbag or liz who fucks the poor because she's incompetent. lose lose
He was one of the few people in government who was actually competent, but beyond that he's still a typical Tory.
We don't care whether or not you are Tory. We couldn't care less!
I love the fact this was #2 on trending
Nice blend of activism and comedy 👌
That chess player really pulled some of his moves out of his ass by the sound of it 😉👉💥
Trickle down economics didn't work in the US during the 1980's - that's all you need to know about it!
Liz Truss just can't stop lying.
"Some of my friends think I'm relentless".
She has no friends...
He is always spot on!
Damn that woman puts Voldemort to shame with that laugh
Chucky Bride (aka lizard truss) can scare the bejesus out of Voldemort any day. People have stopped working night shift @ number 10
I think "evil" is just about the best description of her. Actively evil.
There's a saying that you shouldn't attribute to malice what can be explained by incompetence...but at some point, the difference between them becomes impossible to detect.
The pub is actually called Gordon Bennetts. The bunch of grapes is just a 2 minute walk away.
I can't believe they're still using the "trickle down economic" which has been used in countless jokes
Russell smashs it every time- brilliant
Truss is doing excellent job working for her bosses.
Yes the WEF and Club of Rome
The government honestly doesn't have a bloody clue
What worse is the law she either she put in place or abolished about the trans community. They can’t get the help from therapist for gender dyforia (sorry spelling dyslexic) , they can’t get the surgeries and medication. 😢 She did this while the morning for the queen was happening so no one would notice.
Missed your hot takes! Brilliant as always. Devastated by the economy right now, whrn you live to just exist it starts to feel pointless.
Giving bankers bigger bonusses makes about as much sense as giving 10 Downing Street more prosecco.
She did say a rim, but we're all suppose to pretend she was trying to say ROOM :)
Best way to help the economy is to help those on the lowest incomes. I dont understand how they think trickle down economics works when the entire system of capitalism literally works in the opposite direction
I think best way is to beat high income earners with blunt instrument daily until they start donating their money to common people
Absolutely, rich people already have a huge pool of savings to pull from so a drop in their tax rate won't affect their spending habits whereas for middle to working class people a tax rate drop will allow them to increase their spending habits, usually even past 100% of their income as they're more likely to take on loans and mortgages with their extra income. Its literally one of the first things taught in economics classes.
They know it doesn't.
Lewis capaldi an absolute legend🤣🏴💙
*Queen tried to use state poverty fund to heat Buckingham Palace*
Ministers were asked if money earmarked for schools, hospitals and low-income families could be used to meet soaring fuel bills. What will King Charles want from his subjects?
Robert Verkaik
Friday 24 September 2010 00:00
Glad to see new uploads.
When Liz somehow became PM
How you get up there Liz?....
"I fell" 😂
In 2019
The European Banking Authority (EBA) found that 3,519 bankers working in the UK earned more than €1m-a-year last year - more than seven times as many as those working in Germany which has the second highest number of €1m-a-year bankers.
So? The German financial services system is provincial at best, the UK has the second largest global financial centre only just behind that of New York. The UK has the highest number of footballers earning more than £1M per year but you aren't bashing them for kicking a plastic ball around a pitch are you...
WE have never had to bail out any of the footballers earning more than one million pounds a year but tax payers did bail out the city in 2008 @@BernieTheBoxer
@@BernieTheBoxer You seem to believe Londongrad is something we should be proud of, rather than a nauseating oligarch's playground and money laundering nexus.
We have been waiting on trickle down economics in the US for 40 years. It doesn't work.
A gace up alcohol 3 years ago - Christ did I ever pick the wrong time!
Funnily enough, I thought the exact same thing when he mentioned the pubs closing. What a depressing time to be alive.
Not only does the wealth fail to trickle down but by reducing taxes & not raising interest rates, inflation increases, so it has the opposite affect- the poor get even more poor.
Instead of having it trickle down, can't we just give the money straight to the people at the bottom? I don't see why that's hard.
How can they hope to fulfill their need for greed if money actually leaves their bank account? Will you not think of the difficulties of being a millionaire?
You're not thinking like an overprivileged Etonian dishing out jobs for the boys. And if the masses get unruly, just yell "SOCIALISM!!!!!" at them and feed some headlines about a benefits scrounger to your attack dogs in the Tory press. They'll get back in line and vote for poorer quality of living like they always do.
what, share? nah. Even If that could happen, there are people to poor to qualify for a slice of help.
As far as an economy goes, there is no such thing as a poor person wasting their money. The entire point is that the money gets spent and is in motion. Even the black market is just another way that money moves within the actual economy. There is no faster way to spread money to small businesses than injecting it into the bottom of the system. They don't offshore it or use it to inflate their brand, it's not static.
This!! Exactly!!
Could someone explain this to the people who keep voting Conservative who are not in the upper echelons of society please.
Liz Truss sounds a lot like Distrust...
That mini budget maxed out quickly.
Hey we had something like this happen to us in America, it was called the Regan administration lol
Time for a revolution!
I’m 69 and sometimes I get a trickle down my leg 😂
Great !Russell nails it.
Just ask the states how well 'trickle down ' economics works. Didn't think the British were dumber than them, but if they're introducing this 🤔 over there now 😳 ....
Well, it is kinda comforting that the UK is nearly as crazy as we here are in the USA. Actually, if you go down a few rabbit holes, the whole world has gone off it's collective rocker. Won't be long before we are all throwing our poop at each other!
I loved Louise's answer. Stupid joke from that woman, great and smart answer from him xD
Superb, absolutely spot on .
Never a truer word said than those words said in jest, as they say.
Ok but now I want monocled ostrich socks.
Great Brexit is finish. Game over, The End. 😂😂😂
My friend went bangladesh he lived in a village for 1 month, he came back with high hopes.
He now wants to be a shepard in bangladesh again
Shepherd. Bangladesh. Learn to spell and capitalise correctly.
🙄
@@LaurenJ96 trust me if your a shepard in bangladesh you wont want to come here
If the people don’t want to be taken for a ride it’s up to them to make sure they aren’t. Use your right to protest and make your government serve you the way they should and make it clear the rich need the consumer more than we need the rich.
Man you make a lot of sense!! And in such a wonderful way!
If Truss survivves a year then she'll be saying that she's had record economic growth - and she'll be right.
Like, if I empty my bank account till theres £2 and then I deposit £8, that's exponential growth. But if I have £1000 and deposit £8 that's below inflation so it's effectively shrinking.
Technically she'll be right, but only because she started by pushing the country to the brink of bankruptcy.
Hmm, didnt see it that way. Nice one!
@Moonraker he can now she's sacked it'll take him a few years though
Brilliant.
It’s not the political commentary we need, it’s the political commentary we want.
3:03 cheese gromit
4:20 trickle down economics
9:34 chess cheat
Love you Russell ❤😂
2:29 I never knew I needed to see that.
I love how that fixes the dent.
I'm so glad I got out of the uk before brexit was even thought of. I feel for you all I really do.
She is convinced she is the next Iron Lady.
Russell's my go to guy for current political commentary!!!
I cashed in a small pension, I got a tax refund but the tax office kept over £7,000! of it.
That’ll go to a millionaires tax cuts for eight weeks worth