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katty kay said earlier, has 2% inflation -- over 10% inflation, an energy crisis, the possibility of blackouts, 1970-style blackouts coming this winter, and strikes looming on the horizon. things are dark, indeed, for whomever replaces liz truss. >> she was sort of the ultimate simplistic free marketeer. she felt whatever the circumstances, the tax cuts the solution. of course that's what the markets reacted to. so in a way the ultimate free marketeer was defeated by the free markets. you can't afford this, the timing is offer. the british political system and british people won't ac...

And society get into a situation where this is the kind of leadership we have? and it's very important question. you know, it goes to the heart of what is populism about, what causes it. and i don't pretend to have all the answers, but i know that some of them are contained in this very sorry 44-day prime ministership. >> ed, stay with us if you can. joining us on the phone, lord michael ashcroft, a longtime conservative party supper porter, served as deputy chairman of the party from 2005 to 2010. thanks for being with us this morning. we appreciate it. this resignation of liz truss did have ...