People thought Corbyn and I would crash the pound. The real risk was Truss and her fanatics | John McDonnell

We knew the markets would react sharply to us and were prepared for that. These free-market zealots had no plan at all

Watching the events since the introduction of the “Not a Budget”, I have sat with my head in my hands. You could almost weep for the lasting consequences of this show of arrogance, ideological obstinacy and incompetence . People’s homes, pensions and the public services they rely upon are all now at serious risk. It’s hard to comprehend just how badly they misjudged the situation and how little they prepared for taking over the highest offices of state.

In his brilliant book The Great Crash, 1929, the economist JK Galbraith advises that to avoid a crash in the future you should put in place a vast range of institutional protections, but that the most important protection is memory.

John McDonnell has been the Labour MP for Hayes and Harlington since 1997. He was shadow chancellor from 2015 to 2020

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Trickle-down Truss is carrying on the dirty work of Thatcher, Blair and Osborne | Yanis Varoufakis

Britain has endured 40 years of decline thanks to this faulty economic theory. Will Keir Starmer finally kill it off?

If Kwasi Kwarteng’s mini-budget survives the storm it triggered , a banker on a million-pound annual salary stands to receive £50,000 of income tax relief – on top of the extra bonuses the bank can throw in, now that the Liz Truss government has removed the cap on them. Meanwhile, a Deliveroo rider gets a pep talk on the emancipatory value of aspiring to be wealthy, presumably as an incentive to pedal harder. This is the gist of the government’s growth strategy or, according to former Brexit minister David Frost , its antidote to stagnation and defeatism.

While it’s tempting to draw the obvious analogy between zombie ideas such as the trickle-down growth effect , and the classic Hollywood horror film Night of the Living Dead, a more appropriate response to the seriousness of the situation is to follow the banker’s extra cash. The government claims the banker will invest it, thus promoting growth. If it were not a blatant lie, it might have passed as a touching example of unfounded faith. But unlike Adam Smith’s bakers, butchers and brewers, who would invest any spare cash into better and more bread, ale and meat, the banker will buy into some fund that will, in turn, purchase shares, derivatives and bonds.

Yanis Varoufakis is the leader of MeRA25 in Greece’s parliament, a former finance minister of Greece, and author of Another Now

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‘Jungle’ Is a ‘Blade Runner’-Esque Drill-Rap Hood Tale—Minus the Ingenuity

Prime Video

Like any piece of art inspired by Blade Runner , Jungle is a show that really wants to impress you.

The British drill-rap series, now streaming on Prime Video, establishes an avant-garde visual language and poetic sensibility right out the gate. In the pilot’s cold open, we cut between shots of waves crashing on a beach, a Black boy staring at a burning house, dictionary text and an ominous flip clock while the lead character, Gogo (Ezra Elliott), has a prophetic conversation over the phone.

“I gotta get out of here, man,” he tells an unnamed man, referring to his crime-ridden life. “I gotta breathe. I just feel like if I stay here, I’m going to die.”

Read more at The Daily Beast.

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