WAKEY
As we reported yesterday, the cloud-cuckoo tendency is getting a serious reality check from the trading markets – before this turkey of a Parliament even starts to be hung. With the Liffe futures market open all night and the Pound continuing to be traded round the world, these are the topline indicators of what we can expect over the next few dithering days:
* PIMCO fifteen minutes ago made the following statement:
“Both sterling and UK government bonds are now weaker – Gilt futures now down 40 points having been up 1 point earlier.
With neither Conservatives, Labour or Liberals getting enough votes, markets are weaker too – the uncertainty is starting to bite.”
Before new readers get the wrong idea, let me make two things abundantly clear. First, I’m pro STV PR and against Hung Parliaments. Had we used STV in this Election, we wouldn’t have a Hung Parliament.
And second, you may not like the existing method of raising finance for capitalism – personally I think it is comprehensively mad, bad and dangerous – but it’s no good pretending it doesn’t exist. As long as it does, this is a terrible Election result…and days of indecisive horse-trading will only make it worse.
The Slog 