We highlight our commentary from today's daily report on the most recent event in UK politics, the exit of now former Prime Minister Liz Truss. We previously called it as a high probability that she would have the shortest tenure in UK's Prime Minister history.
Inflation is clearly something that Liz Truss and her demised UK cabinet completely misunderstand, and the UK made the wrong PM choice. Whether Sunak, with his much deeper understanding of economics, can get the nod this time remains to be seen, but someone with his focus is needed if the UK has a chance of recovering from the global fall from grace that we have witnessed the last two months.
• Liz Truss Resigns as U.K. Prime Minister After Tax Plan Caused Market Turmoil
• Succession battle begins after Liz Truss quits as UK prime minister
• Pound rallies as Liz Truss announces resignation
In hindsight, looking back at our coverage and as part of the commentary in our most recent Sunday thematic and weekly recap report titled, "Five Highlights: China Rising, Ethylene Margins, Real Chemical Prices, OPEC, and How Not To Manage Inflation", we accurately predicted the shortest serving UK Prime Minister tenure in history (just 44 days).
Source: C-MACC Research
We thought we were wrong about her exit but turns out we pointed out the lack of confidence in the now former Prime Minister in the excerpt from our report titled “Lack Of Political Experience Raises Global Growth & Investment Risk” published on October 2nd.
Source: C-MACC Research
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