Take a Chancellor on Me: Unpacking Kwarteng and Truss's Big Gamble

The Bunker – News without the nonsense

Podmasters

News, Government, Politics, Society & Culture

4.6 • 1K Ratings

🗓️ 1 October 2022

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

The financial meltdown Truss and Kwarteng have caused has surprised even their greatest detractors. But seriously, just how bad is this? And is there any way to fix it – even if they wanted to? David Blanchflower, former member of the Bank of England’s monetary policy committee, Dartmouth economics professor and author, joins Alex Andreou to discuss the situation. “Markets prevent clueless amateurs doing stupid things… but nobody trusts you, nobody believes you, electorally it’s a disaster. Who actually supports this stuff? “I have never seen such abject incompetence in my entire life.” “We need sensible people back in the room asking, ‘What can we do to rectify the disaster they’ve created?’” www.patreon.com/bunkercast Tickets to Doomsday Watch Live: https://www.tickettext.co.uk/etmejHAuba Written and presented by Alex Andreou. Lead Producer: Jacob Jarvis. Producers: Jacob Archbold, Jelena Sofronijevic and Alex Rees. Assistant producer: Kasia Tomasiewicz. Audio production by Jade Bailey. Music: Kenny Dickinson. Group editor: Andrew Harrison. THE BUNKER is a Podmasters Production. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
0:17.0	Let's talk about working, learning, saving and making the most of living longer.
0:22.0	Phoenix Group is the UK's largest long-term savings and retirement business.
0:28.0	Search Phoenix Group living longer.
0:30.0	Pets brings so much joy.
0:32.0	From those happy greetings at the door to the warm cuddles on the sofa
0:36.7	so give a little love back with dental life from Purina a range of delicious chues made for dogs and tasty snacks for cats that help clean and support your pets, teeth and gums, essential for their overall well-being and a happy, healthy life. They give you plenty of smiles so
0:55.3	look after theirs with dental life. Pick up dental life in the pet food aisle. Hello and welcome to the bunker daily. I am your host Alex Andro. If a week is a long time in politics an hour is even longer in
1:16.8	finance. With one speech quasi-Qua-Qua-Qua-Qua-tastomics took the UK from one of several basically sane developed nations facing significant
1:26.4	headwinds to an absolute basket case.
1:29.6	An FT index of political scientists has placed the UK to the furthest economic right
1:35.4	than any of the 275 parties in 61 countries that they rank, to the right of Meloney's Fratelli Italia, to the right of
1:45.4	Trump's Republican or Bolsonaro's liberals. There have now been six polls putting
1:51.2	the Tories between 20 and 33 points behind Labour.
1:57.2	But as Chomsky said, times are too difficult and the crisis too severe to indulge in Shadden Freude.
2:04.0	My guest today self-described as an economist and fisherman.
2:09.0	David Blancheflower is a professor of economics at Dartmouth College
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