Wednesday, May 12, 2010

A Changing Of The Guard In Britain

The News Dissector

NEW YORK - My muse, the news, seems to be in hyper-drive these days, with “breaking news” dominating all news. As I write, word has to the Dissector comes that Gordon Brown has lost the election after the election as the Lib Dems, Britain’s third party, opted to make a deal with the Conservatives i.e., Tories, preempting all future maneuvers. David Cameron is now prime minister.

Personally I credit Tony Blair, poodle-in-chief, for so trashing/betraying Labour’s legacy that it lost its mission and millions of supporters. Brown finished what he started, hardly helped by a devastating economic collapse.

The Financial Times reported, “Speaking outside Number 10 at the end of five days of tense political negotiations, Mr. Cameron pledged to put tackling the £163bn deficit at the center of a long-term program, announcing that the next election would be held in May 2015.″

Me olde UK mate Pat Kane gets to the real implications of all this:

The bankers and bond traders want cuts introduced as rapidly and quickly as possible, and appear to believe that a coalition of Tories and Liberals would be just the ticket in the present circumstances. That much was made clear by the sudden upsurge in share values when Clegg announced that he would prefer to deal with the Tories, duly reported by the BBC immediately after Clegg had made his statement.

If the bankers want to impose cuts on the electorate as quickly as possible, and with as authoritative a mandate as possible, then the prospect of social turmoil, strikes and protests greeting a government with a weak mandate is a problem for them. This is why capital threw its weight behind the Conservatives, why the right-wing press went crazy over the Liberals’ brief moment in the sun, and why Cameron warned of calamity in the event of a hung parliament.

Long ago, the sun set on the British empire. Now it will set on Britain as a stable country. The economic collapse has led to an effective political collapse.

Pat noted that 15 million eligible voters, many in the working class, sat it all out, refusing to vote. He adds, “The issue of the deficit and who pays for it is the single biggest issue in this electoral morass. There is nothing that comes close to how important this is for the city, for British capitalism, and for the future of welfare and public services in this country. It is in this light that we have to judge the available options now.”



No comments: