The pound / euro exchange rate movement over the last few days shows that something I anticipated has happened rather sooner than I expected:
Buyer's remorse is already apparent. The phenomenon is, of course, well known. You get your purchase home and realise it does not quite live up to what it said on the tin.
The City is already realising that Johnson is incompetent. Only an incompetent negotiator shackles their scope for manoeuvre in advance when seeking a deal, but that is exactly what Johnson has done with his intention to legally exclude a Brexit negotiation extension, come what may. The City has already appreciated how crass this is. They're now over their euphoria at waving goodbye to Corbyn. The dark reality of Johnson is dawning.
They are but the first to appreciate this. They may have got there a little quicker than most, but the awareness that Johnson is not going to offer a land of milk and honey will dawn in a great many people quite soon.
Democracy does not come with the option of seeking a refund. Buyer's remorse is real. Sometime people will realise that.
Corbyn was bad. We know that.
Awareness that Johnson might be at least as bad, albeit for different reasons, is going to grow.
The next five years are going to be interesting, for a great many unfortunate reasons.
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I’m sure Johnson will prove to be a disaster however this exclusion bill is meaningless in reality. Once the WA is passed and it becomes an international treaty not only are the rights of those of us already living in the EU secured for our lifetimes, (with the exception of free movement) the WA states that an extension can be agreed for up to two years. This move is more window-dressing for the voting public and to get MP’s in line.
After the election being resident in the UK would now amount to being trapped in a nightmare of ignorance. So many sadly forced against their will to run a gauntlet created by others!
This pre-supposes that Johnson’s objective is not to pursue a no deal Brexit (blamed on European intransigence) to justify a Trump trade deal. You never know with Boris.
A pertinent point Stuart – the whole of the US seems to hang on the next move Trump makes; the speculation around a US-China trade deal has been strung along for far too long, especially considering it was of Trump’s making. Will they be any better off at the end of the farce than before the whole ‘trade war’ was instigated?
I hope the UK doesn’t follow this path where successive catastrophes are generated then an attempt to take credit for blundering towards a resolution ensues and the largely blameless party gets the stick for not playing to the narrative.
Unsurprisingly, the China perspective on this situation is completely different to the US.
Richard this is narrative is instinctive and irrational response to an outcome (Tory victory) that i presume is intended to rustle up some left wing sabre rattling, akin to much of your pre election blogging. The FX markets are volatile and nigh impossible to predict. You have been arguing Johnson will agree a soft Brexit so that’s the outcome you prefer, be happy! Longer term let’s hope for inward investment and companies to grow and prosper and enjoy the employment opportunities this affords…hopefully the hard left will learn some of its lessons from the last election particularly regarding property rights – 10% of companies annexed by the state and nationalisation in terms agreed by the state would have killed investment (other than by the state). I really hope hopefully leads labour into the next election doesnt promote an anti business anti capitalist agenda as it won’t work.
It’s a cool calm comment
I have since seen it made elsewhere by others, such as the FT
I do think you’re the person with the problem most certainly here to offer contrary views with no addition to debate
Respectfully, I think you are wasting people’s time here with small-minded Daily Mail style approaches
“ Respectfully, I think you are wasting people’s time here with small-minded Daily Mail style approaches”
Well I want the Labour Party to rid itself of the militant tendency socialist worker theme wrapped up as Momentum otherwise the Party will never be elected again. I come from a working class background and understand the community I come from. I suggest much of the ideological nonsense which is killing the Party comes from those who have no idea..
I have no great love for left wing factions either, and I agree they’re out of touch with real people and I find that annoying
But resorting to Daily Mail style commentary helps no one
Offer an answer instead
Let me know when we finally get to capitalism?
At the moment we seem to be becoming permanently stuck in a corporate-welfare state…with around £90 billion in indirect and direct state aid to businesses.
Like the £6 billion in state subsidy for the rail system….I’d like to look at bus subsidies…but they seem to be very wide-ranging (like rebated fuel)….and I just cannot be bothered anymore.
So, personal welfare UK, is basically matched by business welfare….
Capitalism; gotta love it (not)
That’s before we consider tax cuts/tax fiddles/tax evasion….
Indeed
The tories OWN it ALL now.
They must not be allowed to spread the blame.
I doubt if they will even push through their sad WA as quickly as they can – my money is still on letting the clock run down and a default ‘hard brexit’ – in my opinion always and only Plan A.
Under no circumstances should the ensuing events be allowed to be laid at the doors of Labour as the NuLabourites colluded in 2010 with the – ‘No money left’ postit and supporting austerity scam in opposition until they lost the leadership.
I have been taking profits this week and going mainly to cash as the long possible asset bubble crash arrives – the black swan moment is upon us – or will it be too big to fail – Boeing suspended 737 manufacturing (as long predicted by some) with 400 built and sitting in their car parks with no buyers – it’s a big deal in the markets, i suggest.
Santa rally? The only upside is a China deal and Trump.
I fully expect the WA to not be passed by either side. the treatment of the EU citizens living here is rapidly declining into a civilised form of torture. Effectively, the comments in the EU parliament are that any agreement with the EU is dependent upon their citizens being treated fairly….something that racist England is rapidly becoming incapable of. You just have to look at the English home offices treatment of both our citizens and other migrants to realise that the tory party has moved so far to the right of politics that the rabid rabble of EDL/BP/etc are looking more like centrists every day. Couple that with the McCarthy-ist Spanish-Inquisition themed enquires into the newer online media, the plan to remove tv licence evasion from being criminal (loads of people will immediately dump the licence) and things are looking extremely dark. And we have a health secretary that adds 0+0 and gets thousands. If this was a film, it wouldn’t get marketed, too unlikely.