JC vows to make Britain a socialist state

[dmedin]

👍

https://uk.reuters.com/article/uk-britain-election-corbyn/offering-real-change-labours-corbyn-vows-to-oust-conservatives-idUKKBN1XA1WK

 

The question is, do you think the international financial elite will let him even if he does get into power?  Would they allow a run on the pound, capital flight and a major humanitarian catastrophe on Britain, like they do on countries like Venezuela?

Edited October 31, 2019 by dmedin

[Caseynotes]

14 hours ago, dmedin said:

👍

https://uk.reuters.com/article/uk-britain-election-corbyn/offering-real-change-labours-corbyn-vows-to-oust-conservatives-idUKKBN1XA1WK

 

The question is, do you think the international financial elite will let him even if he does get into power?  Would they allow a run on the pound, capital flight and a major humanitarian catastrophe on Britain, like they do on countries like Venezuela?

Should the US be putting 'boots on the ground' in the event of a JC win? 😥

[Mercury]

At least Brexit would be resolved.  Corbyn would immediately exit the EU and bring Britain (probably England by then) into a Marxist alliance with China, North Korea, Venezuela, Cuba and the PLO (or and probably sinn fein also).

[dmedin]

Is China a 'Marxist' country?  I believe China has repressed Marxist protests quite recently.  Incidentally Marx's 'Capital' volume 1 is very good, I have studied it myself with some aids and it has also been recommended by the FT!

China has moved from being "moderately unequal in 1990 to being one of the world's most unequal countries," according to a 2018 report by the International Monetary Fund.

https://www.bbc.co.uk/news/world-asia-china-50258307

 

It would be grand if Britain were more like Scandinavia and less like America, but we all know why that will never happen - cough south east of England cough.

Edited November 1, 2019 by dmedin

[CharlotteIG]

18 hours ago, dmedin said:

👍

https://uk.reuters.com/article/uk-britain-election-corbyn/offering-real-change-labours-corbyn-vows-to-oust-conservatives-idUKKBN1XA1WK

 

The question is, do you think the international financial elite will let him even if he does get into power?  Would they allow a run on the pound, capital flight and a major humanitarian catastrophe on Britain, like they do on countries like Venezuela?

Hey @dmedin, 

Thanks for making this post. We will have some content coming out this afternoon regarding Brexit. 

I will make sure to post something in this Discussion to hopefully bring some more opinions in  

[CharlotteIG]

Hey guy, 

Just uploaded a new post with some of our content linked. You can find the new forum by clicking here. 

This will just be a general chat on the upcoming election and how you think it will affect the markets. It would be great to get your ideas

Have a great weekend! 

 

[dmedin]

Interesting article: https://uk.reuters.com/article/uk-britain-election-spending/britain-set-for-1970s-public-spending-levels-as-parties-woo-voters-report-idUKKBN1XE01D

 

Even the Conservatives are promising to spend lots of money (I suppose there are people gullible enough to believe them).

Article notes that the UK has lower government spending as a percentage of GDP than Germany and France.  Yet both of those countries have a higher overall standard of living than the UK.  Hmm ....

[Mercury]

That's right.  Everyone is living beyond their means at present.  That is why government debt is so large.  In order to keep the gravy train rolling the politicos (of all stripes) promise the moon to buy the plebs off and stay in power.  They have to pay for it via money printing (debt creation) because their economies are not balanced and the tax take is down.  This is why Blair promoted immigration (more consumers, more tax take to keep his New Labour bandwagon going and stay in power).   Industry is getting sold off in the UK (e.g. Cadbury) therefore the tax take is down and also because they can't get tax from the predominantly US based internet companies (hence France attempts to change the rules unilaterally, hence the trade wars that Trump is pushing).  Personal taxation rates (typically via indirects) have climbed steadily to offset the tax take loss from corporates while all parties compete in a race to the bottom by seeking to take large groups of lower paid people out of the tax net altogether (like that is actually a good idea!) which results in the middle class squeeze the MSM keeps harping on about.  BTW, because of the decimation of hard industry the middle class is now huge but a high proportion of them are not well paid. 

Germany (and to a lesser extent France and Austria) is, at present, actually in a better position than most because of their extensive and powerful manufacturing base and associated positive balance of payments.  Of course they achieved this via an effective Deutchmark devaluation via the Euro and in the process screwed the poorer countries like Greece and Portugal; the quid pro quo being infrastructure projects.  However Germany is in a manufacturing recession (which for Germany means a recession) and the alternative parties are on the rise (Merkel has, what, about 35% of the vote?).  The German people don't want to pay out their hard won surplus to bail out the Greeks et al...  They have a bloated social policy regime to maintain after all...

But don't worry.  In the UK at least Corbyn will fix everything...  Err not for the much squeezed middle class he wont.  The battle ground in the election is the middle class swing voters.  Watch BoJo focus all his policy on them, plus the anti democratic referendum reversal agenda.  He has already assumed he wont get any joy in Scotland, hence the "no Indyref2 policy".

Battle lines are drawn, it is not just about Brexit, it is about the Union, and whether the British really want a marxist revolutionary in the driving seat or not.  Corbyn has already come out talking about "going after" various groups (mostly fictitious but it plays well to his base), which is pure Marxist revolutionary rethorice and designed to polarise the country not bring it together (the irony is that Corbyn himself is anti EU but his party is split on this issue).  Turns out the UK didn't need Brexit to have decisive politics, they just needed the socialist momentum movement.  If Corbyn wins one of the saving graces for the UK economy, in or out of the EU but especially out of it, is that the UK is still seen as a safe haven for assets in an increasingly troubling world.  A Corbyn led Marxist government blows that out of the water.  Never mind the question as to whether the so-called elites will allow this, will the people of Britain?

I guess we will know in a few weeks.  What are the odds on a hung Parliament and all hell breaking lose with everything unresolved.