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The Brits Pound Fall is a Lesson for Everyone

By September 28, 2022September 29th, 2022No Comments

Prime Minister Liz Truss got her new title by promising … over-promising … how she alone could fix the economy.  She would ditch “The stale economic Orthodoxy” and “so-called abacus economics.”  In other words, she would pay zero attention to standard budget rules and instead would just claim magic fixes.

The lesson we all need to remember is that when politicians make glitzy, over-the-top promises that they — they alone — know better than the experts, It’s time to say NO to those politicians.

Catherine Rampell writes for the Washington PostAn early lesson in the pound’s free fall.