Boris Johnson has had a stunning win. The drift to the right, towards ‘authority’ and away from workers, often seems to characterise the early stages of hard times.
Despite US figures supporting an apparent economic recovery in that country, the use of the US$ as the world’s reserve currency works wonders for appearances. But the US Reserve’s support for inflated asset values comes at a great cost to dollars in American pockets, and casts significant doubt on the strength of the purported recovery.
Interest rates support the conclusion that we slipped into deep socio-economic deflation from 2008, and the state of world economies confirm the depressionary scenario (although not neoliberal economists’ useless definition of an economic depression).
The drift to the right at elections is palpable. So, congrats, Boris Johnson: that’s Brexit done, but what are you going to do about the UK economy?
From the outset of the 21st century we’ve experienced the madness of share and real estate prices, impossible escalation of private debt, banking and other corruptions …… so, let’s trust these features looming over us don’t degenerate further as they did once before – into the extreme rise of fascism.
Meanwhile, I’m inclined to agree with a tweet posted this morning in response to the British election:-
It is truly remarkable that billionaires have been able to convince the downtrodden that the former are best placed to look after the interests of the latter. Jokes on us.
The bleak economic outlook certainly isn’t improving.