THE UK: BROWN TO GO?

The U.K. is under enormous pressure and Gordon Brown isn't going to be the leader she needs, despite his relatively good relationship with the U.S. He has been left in between a rock and a hard place by the departure of Tony Blair. While a large majority of Brits want to distance themselves from the U.S., in reality, cutting the trans-Atlantic ties would be a revolutionary change to the foreign policy that has stood through the world wars of the last century. For reasons of his own, Brown has opted to strengthen the ties despite public opinion. See here. However, pressure from the E.U. is pulling in the opposite direction.

This is the other conundrum facing Brown; the increasing demands from the Merkel-Sarkozy led E.U. The ever more centralizing superstate want to cut out the voice of British citizens by referendum and expect to dictate to the MPs of Britain instead. Brits naturally are not keen on this either. See here.

A Brown seen to be leaning towards an increasingly centralized and dominating E.U. is unlikely to impress voters before the next elections. But one observer believes Brown may even be considering bailing out:

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"There is another reason he may go early, it's the stock mkts and the problems coming from the Houseing mkt, in the US.

So far this has all been nothing much to anyone not in the mkts, but believe me there is a very serious problem in the US mortgage mkt, which is spreading to all the credit mkts. Assets worth Trillions have gone to Zero overnight. Anything other than Gu'mint debt is allmost frozen, there is no mkt for it, so all that Private Finance buying/flipping is over, no-one will lend to them.

There is also smoke comming out of the Hedge Fund World and a very nasty smell....some funds are stopping redemptions...ie you can't get yr money out and no-one has any idea, just what most have on their books. This is what is spooking the Stock mkts, which themselves are way overvalued on an historical dividend yield basis.

The old adage is that if the US catches a cold we get pneumonia, well the problems in the US involve trillions of Dollars, so they may get pneumonia this time, which means we probably die."

The U.K. is being torn from several directions and now it looks as though a political vacuum may possibly develop at the top. I have to wonder at the chances the U.K. has of retaining some vestige of sovereignty in the face of its internal and external pressures. In my opinion, the destruction has been the handiwork of the Marxist institutions such as the BBC which have worked tirelessly at tearing down the British spirit and common sense that made Britain the great empire it was.



Cross-posted at The Midnight Sun