The Tories are in chaos, so Labour must stand ready | Polly Toynbee | Opinion | The Guardian

 

In this Guardian op-ed, veteran left-wing writer, Polly Toynbee suggests that Jeremy Corbyn’s party has the chance to lighten the Brexit darkness with a New Deal and trumpets that he must seize the opportunity.

Source: The Tories are in chaos, so Labour must stand ready | Polly Toynbee | Opinion | The Guardian

Toynbee has concatenated evidence longitudinally and blamed the Tories. But she failed to explain the context and the alternative options. Most importantly, she failed to mention the financial mess that the Tories inherited from the Labour Government post the 2008 financial crisis.

Personally, I think that Tony Blair put his finger on the dilemma. A right-wing Tory government is likely to lead to a hard Brexit, dire economic consequences  and lose the next election. But a Far Left Labour government, which inherits the post Brexit chaos will find the cupboard bare and will not be able to afford their brand socialist utopia.

What Polly Toynbee fails to identify is that Monitor and the Far Left radicals want the Labour Party to sit on their hands, removed from the Brexit calamity, so that they can blame the capitalists and the globalists, then they’ll intervene and cry, ‘Bring on the Revolution’.

Is this is another episode in the ‘Pied Piper of Islington’ fantasy series?

Thoughts?

 

Why China Is Cracking Down on Cryptocurrencies and ICOs | PIIE

Here’s an excellent article from the Peterson Institute for International Economics. It reports that China initiated a harsh crackdown on cryptocurrencies in early September, part of a broader toughening against financial risk and increased regulatory vigilance on new financial products.

Source: Why China Is Cracking Down on Cryptocurrencies and ICOs | PIIE

This article shows us that China has learned from America’s political weakness on finance and is ready to intervene decisively. Remember President Clinton‘s repeal of the Glass Steagall Act probably precipitated the 2008 financial crisis. And after the crisis, China boldly intervened with massive state sponsored investment – many Western observers thought China would have a hard landing but it never happened.

Thoughts?