Thursday, June 23, 2016

Vera Lynn's veritas confirmed as the English vote to leave

As I was following Brexit coverage, this caught my eye:

There may not always be an England, but the assertion that there is no England now is at best premature. What has become abundantly clear, however--as this Telegraph reporting illustrates--is that London is no longer part of England. It's less English now than it was as Londinium during Boudica's uprising.


Mil-Tech Bard said...

The Financial-Political elites are in shock that Middle & Working class Brits hate open borders immigration.

Now they get to lose their shirts for their 'lack of vision.'

Welfare for new Muslim immigrants and job competition from East Europeans swung the Labour woking class vote LEAVE.

From the UK Telegraph:

‘It was all about immigration’

Ben Farmer speaks to activists in Lancaster about the key issues that swung the campaign to leave.

For the defeated Remain campaigners in Lancaster, there is no doubt about the campaign’s most powerful issue.

Traditionally strong Labour working class estates strongly rejected the EU because of fears over immigration and jobs.

James Groves, referendum agent for the In campaign, said: “We are a very diverse district and in the Lancaster town part of it, a liberal university town, every single district voted to remain.

“Over the river in Morecambe and Lunesdale, pretty much every urban ward voted to leave.

“There’s no doubt that the big swing was in wards which are solid Labour.

He went on: “It was all about immigration and jobs and I think we have to look at why that resonated so much.”

Mil-Tech Bard said...

Sign of the times from Labour, via Breitbart London --

12:34 A motion of no confidence has been tabled against the Labour Party leader Jeremy Corbyn following his failure to corral the Labour vote for the remain camp.

I'd bet Corbyn was told by Rank & File Labour MP's that an election now would see UKIP take Labour seats plus accelerate the process of leaving the EU.

There are strong parallels here for Trump regards immigration in America.

Trump is the first 'closed borders' major American political party candidate for President since Sen Ted Kennedy opened the border in 1964.

The pent up vote for closed borders with American white working class men is huge.

Anonymous said...

On the BBC London news it was asked as to why parts of the capital voted to leave.
One person,looking like an immigrant said,"I don't know,immigrants run the place"

Audacious Epigone said...

Mil-Tech Bard,

A political realignment, in other words. Yes, this bodes well for November. Trump realizes this and is riding the Brexit wave like an expert surfer while Hillary is getting pounded by its waves.


Was his "I don't know" done for humorous effect? Because if we drop that phrase from his answer, it's perfectly explanatory!

chris said...

I made $1000 betting on a Brexit, but am starting to kick myself for not shorting the UK Pound.

Any idea what a Trump victory will do to the markets? Globalists will undoubtedly freak out and that would create some price volatility that could be capitalised upon.

I imagine there would be a devaluation in American stocks/bonds, maybe USG bonds, maybe the US dollar. I don't think the Chinese Renminbi would devalue as the Chinese are said to manipulate their currency.

AAA said...

Short pesos, short us homebuilders, long consumer discretionary (particularly companies with products requiring relatively little labor). Have some dry powder because the market is likely to overreact to uncertainties around the election.

Audacious Epigone said...



I'm nowhere near confident enough about my ability to assess the British electorate to have done so, but I was able to ride the swing for $180. I was in the living room with my wife and kids. I said, "Hear those four clicks? Just made a couple hundred bucks". It felt dirty. I've never been a day trader!

My guess is a Trump election won't roil the markets nearly as much as the Brexit vote did. This was strictly dichotomous with obvious financial implications. The Trump effect will occur much less rapidly and over a longer time horizon.

A devaluation in the dollar would end up playing well into Trump's hands vis a vis increasing the country's manufacturing capacity. From a strictly self-serving point of view, the more 'damage' (and I emphatically do NOT think a drop in bond prices or the major trading markets is actually damaging in the long run) a Trump victory brings as an immediate consequence, the better Trump will end up looking. Start when the pendulum is at the bottom and there's only one way to go.