There's also the 2016 Krugman Pronouncement: this unexpected trouncing of my allies spells doom for the economy. We may never recover. Last week's UK editorials had largely given up on Labor's victory, so they spent a lot of time worrying that the Conservatives wouldn't command a convincing majority. Maybe they would try and fail to cobble together a coalition.
CNBC worried earlier this week that the pound wouldn't fully recover from damaged inflicted by the recent parliamentary stalemate. Ink was lavished over the danger that businesses wouldn't invest in an atmosphere of uncertainty over their beloved EU. Interested readers of that CNBC analysis may glance at the bottom of the page and find today's update: sterling surges on historic BoJo win. The author can't help speculating, though, on how this stunning turn of events might still give a little hope that the Brexit stalemate could still drag itself along by its fingernails:
The analyst added that if a big majority over all other parties is realized then Johnson may now have the scope to “ignore the Brexiteers in his party and provide businesses with some certainty by quickly extending the transition period.”I'm sure that's what the surging sterling tells us about what business investors--and voters--want to see: a further extended "transition" period. The whole thing has simply been too rushed and abrupt. On the other hand, from Johnson's victory speech this morning:
"And with this mandate and this majority we will at last be able to do what?" (Crowd shouts "Get Brexit done".)By the way, all 18 Brexit defectors lost their seats. There's a convincing mandate for delay for you.
Meanwhile, the execrable anti-semite Communist Corbyn says he will resign, but not right away. Certainly before the next election, but he's taking some time for "reflection." Not to be outdone, everyone's favorite spybuster, Christopher Steele, announces that BoJo is a Russian asset. As Sarah Hoyt says, in the future we'll all be Russian spies for 15 minutes.







