The Political Vacuum in Britain

In the US, the GOP is totally divided and split. It's hardly a party at all in the true meaning of the word.

But as the GOP goes, so goes Great Britain. There nobody's in charge. Boris Johnson wants to be in charge. Yet he lives on planet Mars. Only on Mars has Brexit hurt no one, and screwed up nobody's pension.

Yet Boris says Project Fear is over.

http://lastmenandovermen.blogspot.com/2016/06/boris-johnson-declares-project-fear-over.html

Johnson has so much in common with Trump even to the bad hairstyles. But it doesn't stop with the hair and the Islamophobia.

They both know nothing about leadership. Trump thinks it's great to be unpredictable. But being unpredictable regarding world markets and foreign affairs.

Similarly, when Trump and Johnson act absurdly sagnuine about the Brexit-nothing to see here, everything's fine, ignore Project Fear, when things are not anywhere close to fine, this doesn't inspire confidence but the oppoiste.

So much of leadership whether economic or in diplomatic relations requires the abiilty to build people's confidence.

In Britain there is no adult minding the store. The Tories are a mess. Labour is trying to execute a coup on it's own leader, Jeremy Corbyn-sort of like the GOP here in America.

My guess is if Labour ever wants to win another election, it must join with the Lib Dems-and the Greens and SNP-to push for overturning Brexit.

http://lastmenandovermen.blogspot.com/2016/06/liberal-democrats-vow-to-keep-britain.html

"Perhaps suffering one of the longer Brexit hangovers, Chancellor George Osborne waited nearly four days to issue a statement early Monday morning designed to reassure markets that went into panic mode on Friday with the pound falling to a 30-year low."

http://www.cnbc.com/2016/06/27/is-anyone-in-charge-uk-politics-in-meltdown-after-brexit-vote.html

That's already a huge mistake. You don't want to wait four days.

"On Monday, sterling was trading at $1.3445, down around 1.7 from Friday's close. It was down around 1 percent against the euro. the London FTSE 100 index was trading 0.43 percent lower and some of the turbulence seen at a global level abated."

"$1.3445? It's down a lot since this piece was written. Now trying to slip beneath 1.31."

"Nonetheless, there has been no clear message from the government on the next steps in negotiating the U.K.'s exit from the EU, with European leaders pushing for a quick enactment of Article 50 - which would begin the process of extracting Britain from the EU."

"This is the trouble. As long as nobody knows what's coming next, no one can plan anything. The more uncertain, the less reason anyone wants to hold onto the pound."

"If only I could make them finish up and give me my money already I would. Why hold onto pounds if you don't have to? I, however, have to. "

"Nonetheless, there has been no clear message from the government on the next steps in negotiating the U.K.'s exit from the EU, with European leaders pushing for a quick enactment of Article 50 - which would begin the process of extracting Britain from the EU."

Of course, the question is whether Britain does end up enacting Article 50 or not. Right now it won't happen until the new PM-yep, probably Boris Johnson.

There is still the hope they don't enact it and reverse this. Still, the worst thing in markets is uncertainty. You'd rather no about a bad policy than have a pure vacuum.

"Meanwhile, Debates over who will be the leader of the Conservative party, and therefore Prime Minister, are already centered over whether he or she should be from the remain or leave camp."

"Leave campaigner and former London mayor Boris Johnson, who is believed to have harbored leadership ambitions for some time, is expected to run for the job. Those from the remain camp are also expected to run, casting more doubt over how a British exit from the EU could work."

"Home Secretary Theresa May and Business Secretary Sajid Javid have also emerged as potential candidate for the Tory leadership. Cameron is to hold a cabinet meeting on Monday."

If a Remain Minister becomes the new PM then it calls into question whether there really will be a Brexit.

Meanwhile Corbyn is losing support after what is seen as lackluster support of Remain.

He said some things in favor but it was felt his heart wasn't in it.

"Corbyn is accused of conducting a lackluster campaign to persuade Labour voters to vote to remain in the EU. Large swathes of the traditional Labour heartland – former industrial towns and cities predominantly in the north of England – voted to leave the EU on Thursday."

"Also voting with their feet, 12 members of Corbyn's top team resigned at the weekend following the sacking of Hilary Benn, shadow foreign secretary, after he told Corbyn in a phone call that he no longer had confidence in his leadership."

"Their calls for Corbyn to step aside have so far fallen on deaf ears, however with the Labour leader -- who has the support of industrial trade unions -- refusing to stand down. Issuing a statement on Twitter, Corbyn said that he will stand in any new leadership election and said he had the support of millions of party members and supporters."

"As their leader digs his heels in, more resignations came on Monday morning and Labour politicians are expected to discuss a motion of no confidence against Corbyn later in the day, meaning that the U.K's second main party could also be facing a leadership campaign before long."

Whether he wins or loses, though, this weakens the party.

The one case for getting rid of him might be if he's really weak on Remain. Considering how Scotland feels, Labour's very survival requires them to reverse Brexit.

Whether Corbyn stays or goes they need to join with the Lib Dems and all leftist pro Remain parties-Green, Scottish Independence, etc.

What an absurd price the Brits have paid for their national vanity.

They aren't jumping in front of the queue any time soon.

Allstair Campbell sums it up:

"With the existence of the U.K. as a united entity at risk and the political establishment in meltdown, Alastair Campbell, who was director of communications for former Labour Prime Minister Tony Blair, told CNBC on Sunday that the U.K. was in "a pretty dangerous state" following the vote."

"I certainly think that we're in a pretty parlous and perilous state right now. The country has taken a monumental decision without a lot of people really being clear about what the consequences might be, a lot of people that voted for it now realizing that they were lied to pretty systematically by those that campaigned," he said.

"You've got a government in turmoil with a leadership vacuum, you've got the Labour party in turmoil with a leadership vacuum and you've got some really unpleasant stuff going on in Britain as well. Lots of racially-motivated attacks and some really disgusting stuff here and I think it's really sad."