Thursday, June 8, 2017

Pound Sterling Crashing on Election Result News

The pound sterling is down 1.7% on foreign exchange markets on indications from exit polls that Theresa May's Conservative Party has not been able to hold on to a majority in today's UK election.

Failure of any party to gain a majority sets up the possibility that
the hardcore leftist Jermy Corbyn, leader of the Labour Party could become the next British Prime Minister if he can form a coalition with some other minority parties.

The Labour Party, is a Keynesian tax and spend party that also advocates the nationalization of the utility, rail and mail industries for starters. With heavy regulation of everything else.



Exit polls via the BBC

The Tories are 12 seats short of a majority:

Labour +34 seats
Conservatives -17 seats
Lib Dems +6 seats
SNP -22 seats


Tories on track to fall 4 seats short of a majority . . .


Via the BBC

Jeremy Corbyn has called on Theresa May to resign as election results point to a hung Parliament.

Speaking following his re-election as the MP for Islington North, the Labour leader said people had voted "for hope for the future".

And he pledged that Labour MPs would make sure the policies in the party's manifesto were "put before Parliament".


via The Financial Times

Forecasts suggest a hung parliament with Conservatives the largest party
Theresa May says she will try to form a government
Tories projected to get 318 seats vs 267 for Labour
326 seats needed for a technical majority

In the outgoing parliament, the Tories had 331 seats.


Via The Financial Times:

The prime minister appeared shattered by the result. Speaking after winning her Maidenhead seat, her voice cracking, Mrs May said that the Conservatives would seek to govern to provide “a period of stability”.


  1. But Brexit will take the blame for any economic troubles no matter what actually causes them. The narrative that the people suffer for going against the will of their betters will continue as the narrative.

  2. Makes one wonder what Theresa May was really trying to do all along.

  3. I knew I should have speculated on this. Didn't trust my gut. What's the big speculative winner?

  4. Was this the establishment's way of tanking Brexit?