This is the euro to pound exchange rate for the last month:
The idea that Johnson was going to deliver has, very obviously and very rapidly evaporated.
Disaster capitalism is on its way.....
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Disaster capitalism on steroids!! Naomi Klein’s Shock Doctrine absolutely still relevant today.
Shock Doctrine are the foundations of British Conservative Party, keeping the majority poor, frighten and controlling the money makes life for the wealthy very comfortable and ensure their vice-like grip on the levers of power are preserved.
Equity markets seem to prefer what Johnson brings over what Corbyn would have done?
Why is disaster capitalism on the way? Where’s the evidence? Or are you just sabre rattling for the sake of it?
I am suggesting an idea
That’s what this blog does
I’d assume you are well informed enough to know that the SE100 is dominated by international businesses whose U.K. declared profits are boosted by a weaker pound. The City is also dominated by people with a right wing economic perspective that shapes their decisions.
As to disaster capitalism, 10 minutes on Google looking at the background and beliefs of key members of the Cabinet makes it pretty clear that they are fully paid up members of that club.
I think this needs a longer trend line. The £ has only touched 1.17 twice during the year until early December.
If I were a defender of Johnson (not) I would say that the £ has risen steadily and fairly consistently from 1.08 in early August. The current fall is caused by a blip of speculation around the GE and normal service has now been resumed.
The markets were never in love with Boris the Terrible or brexit they were just more afraid of Corbyn and his policies and as long as there was a chance that Boris would prevail and Corbyn fail market sentiment forced the GBP higher against the Euro and Dollar from 09/10/2019. Almost immediately after the GE 15/12/2019 the GBP started its decline breaking through 5,15,30 daily averages and now at my 60 daily average forming a resistance. If it breaks through that then the markets will be heading back to full realisation of what brexit means with the GBP/USD trading at $1.21 a massive fall of 10%
Similar theme for pound-to-US-dollar
The markets were never in love with Boris, they were just terrified of Corbyn!!!
The rich were never in love with Corbyn, nor Labour.
The markets didn’t really care, they’ll make money whatever.
Still, it’s nice to know that even those in poverty now respect the right of the rich to keep their money, pay no tax on it, and sponge on the rest of us.
Vive le Market!
Vive la Rich!
En bas avec les Pauvre!
Garder les pauvres de la Martinique!