What a 180° turn of events.
The UK appears to have become a political laughingstock for the rest of the world, as Prime Minister Liz Truss announced her resignation on Thursday morning, following a turbulent week in UK politics.
On Squawk on the Street, Jim Cramer referred to the UK as “a giant clown show,” claiming that the PM’s departure would have no effect on US markets.
“I mean, nothing there impresses me as a valid way to run a country,” Cramer said to co-host David Faber.
Cramer chastised Truss for releasing a mini-budget at the end of September, which sent the pound sterling into a tailspin.
“This was a great country, and it has the potential to be a great country again,” Cramer said.
Faber then asked Cramer if he was “talking about us (the US) or them (the UK)?” “Them,” the Mad Money host responded.
How the UK is being seen across the pond.— Haggis_UK 🇬🇧 🇪🇺 (@Haggis_UK) October 20, 2022
Jim Cramer(CNBC) – “It’s a giant clown show over there… this was a great country… ” pic.twitter.com/7piidR12gU
Other TV hosts, like Cramer, ridiculed and laughed at Truss’ short-lived premiership.
Two Spanish broadcasters stifled laughter as they described the situation in the United Kingdom, using phrases like “humiliation,” “chaos,” and “laughing stock.”
“Caos”, “despropósito”, “humillación”, “hazmerreir mundial” o “espectáculo horrible” son algunos de las palabras más repetidas en los medios británicos en las últimas 72 horas ante la dimisión de Liz Truss— RTVE Noticias (@rtvenoticias) October 20, 2022
Lo cuenta @annabosch en #Canal24horas
Annette Dittert, a German journalist, declined to translate some of the harsh language allegedly used by Deputy Chief Whip Craig Whittaker during the fracking vote on Wednesday evening.
This is @annettedittert, Bureau Chief of German broadcaster ARD, reporting on events in Parliament last night. Wait for it….. pic.twitter.com/3K3gn6NSFA— PeteB (@ProMediaRes1) October 20, 2022
Truss said that another Conservative election will be held next week to choose who would succeed her.
Almost impossible to take in the scale of the national humiliation. We are the absolute laughing stock of the world.— Jonathan Lis (@jonlis1) October 20, 2022