TV host Jim Cramer calls UK 'a giant clown show' after Liz …
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How the tables have turned.

It seems the UK has become a political laughing stock for the rest of the world as Prime Minister Liz Truss officially announced her resignation Thursday morning following a turbulent week in UK politics.

On Squawk on the Street, Jim Cramer called the UK "a giant clown show" saying US markets were likely not going to be impacted by the PM leaving.

"I mean there isn't anything there that impresses me as a valid way to run a country," Cramer told co-host David Faber.

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Cramer criticized Truss for the mini-budget unveiled at the end of September which sent the pound sterling into a spiral.

"This was a great country, could be a great country again," Cramer said.

Faber then asked Cramer to clarify if he was, "talking about us (US) or them (UK)?" To which the Mad Money host said "them".

Like Cramer, other TV anchors mocked and laughed at the turmoil Truss' short-lived premiership caused.

In Spain, two anchors held back laughter as they described the situation in the UK using words like "humiliation", "chaos", and "laughing stock."

German journalist Annette Dittert refused to translate some of the crude language Deputy Chief Whip Craig Whittaker reportedly used after the fracking vote Wednesday evening.

Truss announced there would be another Conservative election next week to determine who would be taking her role.

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It is a simple and fundamental principle that the government derives its democratic legitimacy from the people. The future of the country must not be decided by plotting and U-turns at Westminster; it must be decided by the people in a general election. And for this reason The Independent is calling for an election to be held. Have your say and sign our election petition by clicking here.

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