The UK Is A Train Wreck

Liz truss was only in power for 44 days.
The establishment has retaken power in the UK and it is leading to a train wreck.
Liz was a rebellion against the no growth policies of Boris Johnson. Boris had proposed sharp increases in tax rates on corporations and individuals. In addition, he had not cut regulations or set up any bilateral agreements with key trading partners. In other words, he had wasted the dramatic opportunity that Brexit had given the UK Government to reform and expand the UK economy. As a result, Boris was kicked out of office two months ago, and Liz trust took over for him.
She immediately eliminated the expected tax hikes and in fact wanted to cut taxes in several areas. Her whole approach was to be pro growth and to see the UK grow economically.
But the head of the Bank of England, Andrew Bailey, combined with the establishment of the Conservative Party, rallied against her and effectively deposed her.
Remember that it was the rank and file of the Conservative Party that elected her as the head of the party. But it was the members of parliament of the Conservative Party that deposed her. Obviously the members of parliament are the establishment and they just ignored the wishes of their constituents.
The new prime minister will likely be Rishi Sunak who she defeated in the leadership contest. Rishi was the Chancellor of the Exchequer under Boris Johnson, and was replaced by Kwasi Kwarteng, who I thought was fantastic.
Rishi has already said that he's going to reinstate the tax hikes and effectively reverse all of the initiatives of Liz. The UK had the opportunity to become the most dynamic economy in Europe with the tax cuts but instead will segue back down into the morass of Europe.
High taxes and high regulations are the hallmark of European business. And, as a result, we are seeing the European area slowly drift into the sunset.
Economic growth has moved to sub 1% growth over the last 15 years. The people of Europe are getting poor and poor. People don't realize that the average poor person in America is richer than the average European.

I lived in London for two years. What struck me was the low standard of living for most people. I lived in the Mayfair District, which is filled with posh people. But that's not how most people lived.
In London everything was expensive, and wages were low. And taxes on those wages were high.
I belong to a private club in London and the staff are all Polish. Only the top staff were English and yet at the same time, there were riots in London by young people demanding opportunities to find jobs. So here were dozens of jobs at my club that English people could have filled and the clients would have felt more comfortable having English people serving them than Polish people simply because of the language barrier. But there were no English people working there in the lower level jobs
This is a tremendous lack of opportunity. Now that Liz is gone the potential for opportunity is also gone. The same dreary policies of high taxes and high regulation will lead to continued stagnation in the UK economy.
The establishment has reasserted their power.
So the real question is how do we make money from this? When Liz was elected, I told my private clients that I was getting ready to buy the British pound and the British stock market. The British stock market is perpetually undervalued and so had excellent upside potential. But now with the old policies back in place, I don't see any point in buying the British pound or the British stock market.
I will look further into selling the Pound.