It has been quite puzzling that the Sterling and the bond market in the United Kingdom have not completely given way given the outlandish spending and painfully serious fiscal crisis on the big island. The Wall Street Journal's Simon Nixon thinks he knows why.
The market has, according to the Journal, effectively concluded that Gordon Brown is finished and that a conservative government is around the corner. While MP expense scandal represents a large part of Nixon's argument, the reality is that the conservative revival in the UK has far less to do with expensing call girls and the like (long a tradition in British politics) and far more to do with the outright raid of the Treasury.
Nixon opines on Gordon Brown's impending loss to the Tory, Mr. Cameron, due by June, 2010:
That's the most likely outcome, judging by opinion polls. And it helps that so far during the current scandal, Mr. Cameron has enhanced his authority, showing a keen appreciation of the febrile public mood and acting decisively against his own MPs to confront the worst abuses. But the process of purging the old system and restoring public confidence has only just begun. There could be more political battles to come.And while money wrongly claimed has been repaid, those who claimed it remain in their jobs, their authority diminished. Support for fringe parties is on the rise, suggesting a backlash against mainstream politicians. Against this backdrop, the next government must persuade the public to accept savage public-spending cuts and painful tax hikes. The market is betting the political class can regain sufficient credibility to drive through this agenda. The stakes were high enough already.
One wonders what fate the market is pricing for Democrats.
U.K. Political Scandal Poses Economic Risk [The Wall Street Journal]
Posted by guest , May 15, 2009 9:25AM
UK is finished.
Posted by Lowly Assistant , May 15, 2009 9:47AM
No no no. We've seen this before. The economic landscape levels (more likely due to time than anything else), and it's back to "fairness" v. "banning of coat hangers."
Same as it ever was.
Posted by guest , May 15, 2009 10:10AM
Liberalism is a mental disorder. Basic math skills lose out to feel good horseshit legislation.
Posted by sugardaddy , May 15, 2009 10:14AM
UK is soon going to home to a low tax fundamentally sound economy and the hottest girls the world has to offer.
Posted by american bandersnatch , May 15, 2009 10:26AM
@4 - UK girls the hottest the world has to offer? Where will they import them from?
Posted by guest , May 15, 2009 10:28AM
just don't send that teabag santelli over here. that's the last thing we need.
Posted by sugardaddy , May 15, 2009 10:30AM
@5 sorry if the sarcasm didn't come through. Although my barber shop could pass for a Polish brothel.
Posted by guest , May 15, 2009 10:34AM
7 That in NY? One of the thrills of getting a pedi at John Allan's on Trinity St is that the Brazilian woman who does it holds your feet within a millimeter of her breasts.
Posted by Lowly Assistant , May 15, 2009 10:36AM
Sugardaddy,
Are you sure you weren't talking about the EU (specifically eastern bloc)? You'd probably be correct.
Posted by sugardaddy , May 15, 2009 10:41AM
Barber shop is in london (surprisingly). All the beauties from the Eastern bloc are here trying to make it in the big city.
Posted by guest , May 15, 2009 10:47AM
Dems are bullet proof at least for another year. Obama has the people in his hand and the media on his side, well except for Fox.
Posted by guest , May 15, 2009 10:56AM
11 I would say that after the Bush fiasco of 2000 - 2008, six of which were accompanied by a R congress, Obama has nothing to worry about for a very long time. Compounding that is the fact that the R party seems to be morphing lately into a Limbaugh/Cheney/Palin clusterfck.
Posted by guest , May 15, 2009 11:02AM
The reason I say that he has another year is that he has to have some answers for the current crisis. If people don't get back to work then he's gonna face a serious problem. People aren't going to care about any of the other issues if unemployment hits 10%. Not saying a Repub party that has Palin as its leader is going to be winning any elections but its very possible that another group within the party can pull it out.
Posted by guest , May 15, 2009 11:04AM
Cue the tape on Jimmy Carter.
Posted by Anal_yst , May 15, 2009 11:05AM
@8
Love that tall, fit blonde cougar-esque one, and the brunette who works the desk, can't remember either of their names, but its definitely more eye candy than I see around the office X infinity
Posted by guest , May 15, 2009 11:17AM
@15
That ain't no barbershop, where's all the black people?
-Obama Nation
Posted by guest , May 15, 2009 11:17AM
15 That's obviously the idea, since the services are the same as you would get anywhere. I like the fact though that its not filled with women and doesn't have that smell like most nail places do, which is relaxing. Overall though it strikes me as slightly guido - sales and trading guys that make more money than they ever thought possible and like to throw it around a bit. I'm guessing its like bottle service at Marquis, where I've never been.
Posted by american bandersnatch , May 15, 2009 11:43AM
@8 - Men getting pedicures? Kill me now.
Posted by Lowly Assistant , May 15, 2009 11:46AM
I'm with AB. And men shouldn't wear sandals, fags.
Posted by guest , May 15, 2009 11:49AM
18 Try it and I guarantee you'll never go back to doing it yourself. Or not doing it at all, which is just gross. They get all the calouses off, get the nails nice and perfect, and at a place like Paul Allan's its all guys, so not a bunch of cackling women, like the Korean places on every corner.
Posted by guest , May 15, 2009 12:01PM
Labour/Brown will be destroyed at the next election.
London does have many hot Eastern European chicks.
Posted by guest , May 15, 2009 12:15PM
EP is in some sort of time warp hinting that what's happening in GB has anything to do with the Democrats in the US.
Labour had its chance and Blair blew it all up by going to bed with Bush. Both are big losers and what happens to Brown is now up in the air.
Posted by guest , May 15, 2009 12:21PM
Like the Repubs in the US. They had their chance then went with Bush. And that not being bad enough, followed up with Palin and then put Steele in charge.
Posted by american bandersnatch , May 15, 2009 12:27PM
@18 - Thanks, but I intend to remain ignorant of the possible pleasures of a good pedicure.
Posted by guest , May 15, 2009 12:53PM
@Sugar For a second there I thought you were talking about Greenpoint.
Posted by polizeros , May 15, 2009 12:56PM
Gordon Brown is wildly unpopular, Obama enjoys high ratings. And his Administration isn't seen as corrupt and / or incompetent.
The far right BNP will probably do rather well in the elections. This should be a matter of concern to all unless you would rejoice in seeing, say, David Duke's party gain serious political power and seats in Congress.
Posted by guest , May 15, 2009 1:04PM
@13 Romney.
Palin is a tool and will be used accordingly.
Posted by guest , May 15, 2009 1:17PM
@20 Act like a man. Cut your callouses off with a pair of nail scissors and cut your fingernails when your wife say's that they hurt.
Posted by Anal_yst , May 15, 2009 1:18PM
@AB
Never done the pedicure @ John (not paul, unless that was just a poor AP reference) Allans, although having never gotten a manicure until about a year ago, its not bad at all, and actually kinda cool in that 'hot women are pampering me' sorta way.
Posted by guest , May 15, 2009 1:28PM
28: see 29. I'm telling you, its awesome. Acting like a man doesn't mean farting, belching and scratching nuts 24/7.
Posted by american bandersnatch , May 15, 2009 2:02PM
Pretty sure you're either genetically disposed to get pedicures or not. However, there was this one night me and my buds all got drunk and one thing led to another and we all got pedicures.
Posted by guest , May 15, 2009 2:04PM
#30 - those who ARE men need not worry about how to ACT like men.
Posted by guest , May 16, 2009 4:57PM
Hard to believe that somebody as smart as EP can be so clueless. Labor is unpopular in Britain because it was holding the keys to government when the shit hit the multi-trillion dollar fan, much like the Republican Party is unpopular here and is currently reduced to being the Southern Redneck party. Also, when the Conservatives take over in Britain, they won't have any magic pixie dust that will make them a model for the world to follow, and if possible GB is in deeper shit than than the USA.
I thought about writing a diatribe calling you a stupid fcking twat who's totally detached from reality and that the average person could care less if your head ends up on pike next to Madoff or Mozillo, deserving or not. Instead, I'll just pat you on the ass and say, "Look at the adorable little girl post". If you want to reattach yourself to reality then maybe you should ask Bess to slap you harder than she's ever slapped anyone before, and I bet Bess has slapped some people pretty hard.