Political and Economic Chaos in the UK

The Brexit vote has exposed (not caused) the bankruptcy of the entire western financial system, but also the political bankruptcy of the Blair/Cameron era of the British Empire.

Cameron has resigned, but won’t leave for at least four months, and Britain won’t file the “Article 50” required to activate the rewithdrawal from the EU until after the new PM takes over.

The Blairites in the Labour Party have unleashed a blitz against Jeremy Corbyn, demanding that he resign for not having campaigned hard enough for staying in the EU. Since the vote on Brexit, 21 members of Corbyn’s shadow cabinet have resigned (out of nearly 50), following Corbyn’s dumping shadow Foreign Minister Hillary Benn, who openly denounced Corbyn over his role in the vote. Corbyn refused to resign, saying that only an election within the Labour Party national membership could replace him, and that he would run in any such election.

Tony Blair, himself, is thoroughly distraught. In a June 24 New York Times op-ed, he says the vote is the result of anti-immigrant sentiment on the right and anti-banker sentiment on the left, concluding (correctly, if ironically) that “underlying it all is a shared hostility to globalization.”

In Scotland, Scottish National Party leader Nicola Sturgeon said that the regional legislature could vote to reject the Brexit (although they would be overridden by the national legislature); that Scotland may appeal to the EU to keep them in; and that a new independence referendum could be initiated. Northern Ireland may make similar moves.

The bank stock collapse continued Monday, with both Barclays and RBS falling the legal limit of 8%, causing a temporary freeze in trading, only to then fall further. Barclays is now down 32% since the Thursday vote, RSB by 31%, and Lloyds by 30%. The pound is down 12% since the vote.

Ambrose Evans-Pritchard’s Telegraph column yesterday desperately called for a “soft-Brexit” in which the City of London “could still thrive” — namely, “by switching efforts to global bodies that increasingly set the rules above the EU level, such as the Financial Stability Board, the Basel Committee, or the WTO.” Bankers’ dictatorship, undisguised.

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2 Responses to Political and Economic Chaos in the UK

  1. Michael Parker says:

    I have been a long time reader and for a time, a paid subscriber to Larouche publications. His work is the preemminent source for accurate info re British Imperial global stranglehold. But im confused as to how Larouche and team can be clear and cogent re the British yet naively aasume that they would allow honest elections. Its a huge gap in logic.

    Its also annoying and ridiculous to hear Larouche harping on “getting rid of Obama”. (I recall the same rhetoric used against Bush.) Again its a huge gap in the logical premise of a globally entrenched power that somehow just allows for repeated free elections and then leaves an opening for the potential removal of its most important political stooge in chief.

    The fact is there are no free elections allowed when it comes to any key position and tiresome demands that we all just somehow magically sack Obama before he “launches WWIII” cause me to see Larouche as an impractical eccentric. Hes a visionary no doubt and his ideas can and will benefit the world one day but he is clearly out of touch with day to day practical reality.

    Brexit was ordained and Obama was selected. No matter how much anyone urges and demands Obama’s ouster it cant and wont happen. Its like seeing an apocalypse freak screaming on the street corner.

    So please just focus on promoting sensible blueprints for the future along with exposes on the criminals behind our current conundrums. The ridiculous calls to action towards unobtainable goals make people feel powerless. It only serves to disempower and diminish our hopes for the future. Thank you

    • Heaven forbid that the old empire is as all-powerful as you and they themselves seem to think! To my understanding their influence has always been based on, yes brutishness to a degree, but much more so on illusion and bluff. They thrived for far too long on the poverty-induced ignorance and fear of their global subjects, including Britons of course. Now the entire world is organizing against them – look at the progress China and Russia have made and now India and others are beginning to make similar strides.
      As for Obama, well let’s just wait and see how his disastrous presidency ends – I can’t imagine it will end in glory for him.
      By the way, I hope you renew your subscription – now would be a great time to do it.

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