Not So Pink ‘Un

FT-CCCP-thumbnailIs Guido being too cynical?  After 23 years of opposing the Tories the FT this morning grudgingly switches editorial support to them. Have the Tories suddenly become europhiliacs? Could it be anything to do with both the re-invigorated Wall Street Journal and City A.M. eating into their readership?

Both those financial papers defend their capitalist readers and take a more robust line, whereas the FT is mainly read by foreigners and the global elite’s limousine liberals.  The FT even backed Neil Kinnock against Margaret Thatcher and it is where Ed Balls cut his teeth as a Labour propagandist.  Maybe it has finally dawned on the pink ones that their falling circulation might be a result of insulting and irritating their overwhelmingly capitalist readers…

See also City Boycotting the Lefties at the Pink ‘Un

Rich & Mark’s Tuesday Morning View

Freaky Friday Fears Give City Nightmare on Threadneedle Street*

London’s financial futures exchange will, in an unprecedented move, open at 1 a.m. on Friday to allow investors to trade gilts as the election results come in.  Investment banks and hedge funds will be at their desks overnight.  Given the closeness of the race if key results are not counted until lunchtime market uncertainty will cause volatility.

The gilt market determines long term interest rates, which fix mortgage rates.  Labour losing the election is priced into the market, consequently gilt yields have dropped below the psychological 4% interest rate as the prospect of a change of government with a focus on bringing down the deficit has buoyed debt and currency markets.  If traders sense a re-run of the 1974 Lib-Lab pact is on the cards they will sell sterling and gilts to the floor.  The pound will be devalued by morning and the gilt yields which determine long term mortgage rates will rocket. It would be a nightmare on Threadneedle Street…

The price of a Labour government will be higher mortgage payments and higher inflation imported by a devalued pound.  If it goes wrong on Freaky Friday it will f**k the economy before the day is out…

*Threadneedle Street is the location of the Bank of England.

Quote of the Day

Sadiq Khan MP writes…

“Labour is, and always has been the Party of British Muslims…”

Labour Third, Pollsters and Punters Expect Cameron to be PM

This is the latest rolling average of the last week’s polls.  Political punters give Cameron a 84% chance of being the next Prime Minister, which seems like a bit of a sell given punters currently make a hung parliament a 52% probability.

Drilling down onto seat numbers the punters are evenly divided rating the chances of the Tories getting between 300 and 324 seats, 2 short of an overall majority, at 29%.  They rate the chances of them getting a majority in the 325 to 349 range also at 29%.  The cliche “it is still all to play” for is absolutely true…

Rich & Mark’s Monday Morning View

Guy News : The Spin Room II

It is not just Gove and Whelan bickering over Twitter.  Glamourous Gabby Bertin, Mandelson, Liam Byrne, Fraser Nelson and Matthew D’Ancona spinning away, and the odd technical glitch.

If you missed it yesterday, check out a seemingly tired and emotional Alastair Campbell, swaying as much as spinning here.

Clegg and the Weirdie Beardies

Guido likes Clegg, his anti-statist liberalism is a welcome change from the more-of-the-same social democrats who have dominated the LibDems since the merger.  Clegg and some of his leadership team, like David Laws and Ed Davey, are in policy terms really on the centre-right even if they prefer to describe themselves as centre-left.

That said Clegg is hampered by the democratic structure of his party, the manifesto is written partly by the activist membership, many of whom are radical left-wingers – the infamous weirdie beardies.  Clegg emphasises all the vote winning right-of-centre policies on television; cutting personal taxes, putting more police on the streets, cutting back the health and educational bureaucracies.  His party has also saddled him with a manifesto that is soft on sentencing criminals, backs banning-the-bomb and joining the euro policies.

LibDem MPs and voters are to the right of the weirdie beardie activist party members.  YouGov polling shows that Clegg is the most popular party leader with a 79% approval weighting.  The same polling shows those voters over-whelmingly dislike LibDem policies on immigration and joining the euro. In the event of a hung parliament Clegg should use his enhanced authority to block a Lib-Lab pact however much his activists want it.  Clegg won’t replace Labour as the second party by embracing them and his popularity will dive forever if he does a deal with Labour, taking his party down with it…

Graphic credit : Policy Diffusion

Quote of the Day

Gilian Duffy said

“I’d been watching the news bulletins earlier in the day and they were talking about the national debt and how none of the politicians are mentioning that and I thought I’d ask him about that. I […]

+ READ MORE +

Gordon Meets An Undecided Voter, Heavies Eject Him

Blair would have dealt with this heckler head-on not have the heavies throw him out. It was a public meeting on public property. Why couldn’t Gordon answer his question?[…]

+ READ MORE +

Balls Losing to “Obama Inspired” Tory Campaign

Last night fact checking Cathy Newman from Channel 4 News took a look at Antony Calvert’s campaign to castrate Labour in Morley and Outwood. Watch her ask Ed Balls “will people be asking ‘where you up for Balls’ on May […]

+ READ MORE +

Saturday Seven Up

7upIf you were not one of the 84,754 visitors viewing 610,039 pages over the last seven days, here are the seven most popular stories (in order of popularity) that you missed:

[…]

+ READ MORE +



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Quote of the Day

Preston Council leader Peter Rankin explains rising anti-Semitism…

“You need to think why this anti-semitism is getting worse. It’s because of the actions of the IDF shelling schools and hospitals and killing and maiming thousands of men, women and children.”

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