trade

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Angels to lose their American share

Published by Anonymous (not verified) on Mon, 12/10/2020 - 8:26pm in

I was fascinated that there is an American startup called Bespoken Spirits that aims to “to precisely tailor spirits for aroma, color, and taste in just days.“ This relies on analysing the oak flavours required to flavour the spirit and thus compress the normal ageing process – and hence also the angels’ share – from... Read more

Trade, saving and an economic disaster

Published by Anonymous (not verified) on Mon, 12/10/2020 - 8:05pm in

 The UK is running a trade surplus. No, really, I am not joking. This is from the ONS's latest trade statistics release:

The UK total trade surplus, excluding non-monetary gold and other precious metals, increased £3.8 billion to £7.7 billion in the three months to August 2020, as exports grew by £21.4 billion and imports grew by a lesser £17.5 billion

It's the first time the UK has run a trade surplus since the late 1990s:


 And if you were thinking this was because of the lockdown, you would be wrong. The UK has been running a trade surplus since the beginning of 2020:

Admittedly, the trade surplus widened under lockdown. But the UK economy reopened to some degree from June to August - and yet the trade surplus continues to widen.

This is no doubt music to the ears of balance of payments obsessives. Could the UK at last be pivoting away from a consumption-led growth model to an export-led one? 

At first sight, it appears so. Exports have increased more than imports. And the strongest growth in goods exports was in manufactured goods, particularly machinery and transport equipment:

Hooray! If this continues, the UK will become an export powerhouse to rival Germany! There will be jobs and prosperity for all! 
Not so fast. The trade balance is a net figure. The gross figures that make it up matter too - and gross imports and exports have both fallen considerably since August 2019:

The UK's trade surplus is not a sign of a booming export economy.  Far from it. The only reason for the trade surplus is that imports have fallen even more than exports over the last 12 months. 
An abrupt switch from trade deficit to trade surplus accompanied by sharp falls in both imports and exports is usually caused by what is known as a "sudden stop", when investors abruptly pull their funds from the country, causing the currency to collapse and bond yields to spike. It is almost always associated with a deep recession. The UK has experienced sudden stops twice since World War II, in 1975 and 1989. In both cases, the pound's exchange rate fell sharply - so sharply, in fact, that in 1975, when the UK still had exchange controls, it was forced to ask the IMF for help to stop the pound collapsing. 
But this time is different. Sterling's exchange rate did drop sharply in March, but it bounced back again:
There was no sustained currency collapse. And although there was a brief spike in March, bond yields then fell to the lowest levels in history: 

Resilient currency, falling bond yields....this is hardly a typical "sudden stop". 
In fact the UK is in no serious danger of running out of the foreign currency it needs to pay for imports. Permanent central bank swap lines make FX-driven sudden stops a thing of the past for currency-issuing developed countries (though not for Eurozone countries). Imports are falling not because of lack of FX, but because the UK population has cut back discretionary spending hard. This is what is causing both the widening trade surplus and the deep recession. And the fact that the UK was already running a trade surplus before pandemic restrictions were imposed shows that it was collapsing consumer confidence, not the lockdown, that caused the switch to trade surplus.

The import figures for August show that domestic consumer confidence is still on the floor. And this is supported by the GDP figures:
A trade surplus is not necessarily a sign of a healthy economy. 
When there is a trade surplus, domestic saving must be high, since the country is exporting capital. The UK's domestic saving ratio is currently at an all-time high:

In my view this massive increase in the domestic saving ratio is the cause of the trade surplus. And it is not a healthy sign. It does not reflect the desire of people to provide for their own age or build an economy for future generations. And it is not providing capital for needed investment: if it were, interest rates would be significantly positive, rather than heading for the basement. The extraordinarily high domestic saving ratio actually reflects the unease that many people feel about exposing themselves to the virus for the sake of an evening's entertainment, the fear of many more people that their jobs and incomes will evaporate, and the obstacles that pandemic restrictions create for people who do want to spend.
The saving ratio is a tale of two halves, too. Higher earners who can work from home are saving like mad, while people on lower incomes are losing their jobs or suffering pay cuts, forcing them to dis-save:

(chart from Resolution Foundation)

So both high and low earners are cutting discretionary spending, though for very different reasons. And large though it is, the UK government's deficit spending is nowhere near large enough to compensate for this massive fall in domestic consumption. That's why GDP has fallen so much and has been slow to recover. Now that the government is imposing more restrictions while cutting support for those affected, GDP will fall again. 
Neither a trade surplus nor a high saving ratio necessarily mean a strong economy. It depends on the circumstances. A country with a large middle class and an effective social safety net might have a low saving ratio and a trade deficit, because people enjoy buying foreign-made goods and have little need to save. But this is without question a more prosperous country than a country with a trade surplus and high saving ratio, if the population of that country doesn't earn enough to buy foreign-made goods and must save because there is no social safety net.

If the prosperous country, driven by mistaken envy of the poorer country's trade surplus, deliberately depresses domestic incomes to gain international market share, and shreds its safety net with the aim of "making work pay", then it might find its saving ratio rises and its trade balance shifts towards surplus. But its population won't be more prosperous. They will be poorer. Rather than the poorer country becoming more like the richer one, the richer one becomes more like the poorer.

Right now, the UK's high but divided saving ratio is raising its (already high) wealth inequality, while collapsing consumption is destroying the jobs and incomes of those at the lower end of the income spectrum. The trade surplus and high saving ratio aren't making us prosperous. Indeed they have no causative effect at all, in either direction. As is so often the case, the switch to trade surplus and excessive saving simply reflects the effects of an economic disaster. Those who think that a trade surplus and a high saving ratio are the route to prosperity for all might like to reflect on this. 
Related reading:
Currency manipulation is a really bad ideaThe high price of dollar safetyRainy Days - Resolution Foundation

 

Disgusted at Tory Simon Hoare Abstaining on Internal Markets Bill and Threat to Peace in Ulster

I’ve got no new information to add to this. Mike and the peeps on Twitter have said it all very eloquently and cogently. But I felt I had to add my voice to theirs condemning Simon Hoare, the Tory chairman of the Northern Ireland Select Committee and his disgusting announcement that he is going to abstain on the government’s Internal Market Bill. This is the piece of legislation that will break international law by contradicting our treaties and agreements with the EU. And it’s a real threat to peace in Northern Ireland because it imposes a hard border between the Six Counties and the Republic. But it was an essential part of the Good Friday Agreement that the border would remain open.

The Americans have already warned the Tories that if th20 years e Bill gets passed, any future agreement with Britain is gone. That means that all Johnson’s rubbish and guff about getting a good deal with America is just null and void, bluff, bluster, propaganda and lies.

But the real harm could be to the people of Ulster. Those of us of a certain age can remember the horrors of the twenty years or so of terrorism in Northern Ireland and the IRA’s bombing campaign on the mainland. I don’t know how many people were killed, maimed and injured. I do remember the day the IRA bombed Magg’s department store in Bristol. Fortunately no-one was hurt. It wasn’t just the IRA – Loyalist paramilitaries also carried out their atrocities, and there is more than ample evidence that British armed forces, which were originally sent into Ulster to keep the peace impartially, actively colluded with them, as well as the infamous Bloody Sunday Massacre.

The Daily Heil has been fiercely critical of the NI peace agreement, claiming that contrary to all the publicity the paramilitaries are still active. Well, I think one of its editors, David English, was a member of the Loyal Orange Order. Their anti-Catholic activities resulted in a concerned British government launching an investigation into them in the late 19th century, as I found out while working in the archives of the former Empire and Commonwealth Museum. I dare say they are. But the violence seems to be very, very much less than I remember and there does seem to be, or at least was, a real atmosphere of positivity and optimism. The great people of Ulster really did seem at last able to live in peace with the hope that tomorrow would be better. Ordinary, innocent people didn’t have to live in the fear that they were going to be shot or bombed in their homes, pubs or work.

Too many people from both the Nationalist and Loyalist communities and politicians of goodwill from Britain, Ulster and Eire and worked too hard and risked and sacrificed too much for this fragile peace to be put in jeopardy. I know personally people from both communities in Northern Ireland, who hate the bigotry and violence.

No-one should die or live in fear simply because Boris and the Brexiteers – surely the name of a really grotty pop band – want to stick two fingers up to the European Union. Abstention isn’t an option: this is just Pilate washing his hands at Christ’s crucifixion again. Hoare might have eased his conscience, but it’s a weak gesture simply so that he hangs on to his job.

You can’t abstain. Not when people’s lives and the political stability of an entire province hangs in the balance. He should do the decent thing and vote against.

Just as Starmer had no business ordering the Labour Party to abstain but not to vote against more Tory legislation granting British forces immunity from prosecution for war crimes.

This could all blow back in Tories’ faces. A majority of Ulster Protestants also want to keep the border open. The province voted to remain in the EU, and some political commenters have argued that this leaves the way open for Eire winning them over and so creating a united Ireland. I think this is far too optimistic, but who knows? If all the people of Ulster want to join Eire rather than have their trade and personal contacts disrupted by a harder border, than there honestly can be no argument. Not if it was the result of a genuinely democratic campaign free of intimidation from the men of violence.

There’d be a united Ireland, and Cameron and Boris would have succeeded in breaking the Union of England, Wales, Scotland and Northern Ireland. And when Blair made peace in partnership with Eire and the Americans, some people claimed that he had betrayed his people.

No: he and his partners gave them peace. A peace that Boris is set to destroy and Hoare is doing nothing to preserve.

The Tories are a disgrace. A murderous disgrace. The people of Ireland and Britain deserve better. And the Tories deserve nothing but our hatred and contempt for their willingness to risk more violence.

As I said, disgusted.

See: https://voxpoliticalonline.com/2020/09/29/tory-hoare-branded-a-coward-for-plan-to-abstain-on-bill-that-threatens-peace-in-northern-ireland/

ScoMo Tells Aussie Kids To Consider Studying A Trade Like Carpentry, Plumbing Or Marketing

Published by Anonymous (not verified) on Mon, 28/09/2020 - 7:58am in

Australia’s Prime Minister Scott Morrison has called on the nation’s children to consider taking up a trade like carpentry, plumbing or marketing.

“This country was built by tradies and we need more of them,” said Prime Minister ScoMo. ”Now is not the time to think about being a philosopher, lawyer or heaven forbid an artist.”

”Let me tell you there is no better feeling in the world than accomplishing something as a tradie. I long or the days when I used to be on tools as a young marketing executive.”

When asked why his Government was seemingly abandoning Universities, the Prime Minister said: ”We’re not abandoning anyone, Universities have had their time in the sun, now it’s time for others to have a go.”

”As you know under my Government, if you have a go, you get a go, you know?”

”Now, if you’ll excuse me, I’m off to Engadine Maccas to get back on tools if you know what I mean.”

Mark Williamson

@MWChatShow

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Don’t Be Fooled – Boris Wants to Strip You of Your Human Rights

Mike put up a piece on Sunday commenting on an article in the Sunday Telegraph that our lawbreaking, lawless Prime Minister and his gang intend to withdraw Britain from the Human Rights Act and the European Convention on Human Rights. This has been a goal of the Tories for nearly a decade. Mike was warning about this as long ago as 2013. Cameron was trying mollify us by saying that they’d replace it with a Bill of Rights. Presumably the title of this proposed Tory replacement was chosen to remind everyone of the Bill of Rights that was issued after the Glorious Revolution of 1688. This was a piece of revolutionary, progressive legislation in its time. However, any Bill of Rights the Tories pass is going to be a highly-diluted replacement for the Human Rights legislation they’ve repealed. If we see such a bill at all. Mike states that the Torygraph article was behind a paywall, so he couldn’t see it. But what he could made no mention of it.

Don’t be fooled. The Tories are an authoritarian party with a dangerous, Stalin-like cult of personality under Generalissimo Boris. Boris has shown us he’s more than willing to break the law to get what he wants, such as illegally proroguing parliament and deceiving the Queen, and now getting his loyal minions to troop into the lobbies to pass a law breaking our international agreements with the EU. He, and they, are a real, present danger to democracy.

The Tory faithful are no doubt welcoming this as some kind of move that will enable them to deport the illegal immigrants – meaning desperate asylum seekers – they tell us are invading this country. There’s also the long-standing complaint that human rights legislation protects the guilty at the expense of their victims. But Conservative commenters on the British constitution have also quoted the 18th century British constitutional scholar, Lord Blackstone, who said that it was better that 10 guilty men go free than one innocent man wrongly punished. The Tories do not want to repeal this legislation because they somehow wish to defend Britain from invasion by illegal immigrants, nor because they wish to protect people by making it easier to jail criminals. They want to repeal this legislation because it protects the public and working people.

One of the reasons the Tories hate the EU is because of the social charter written into its constitution. This guarantees employees certain basic rights. Way back when Thatcher was a power in the land, I remember watching an edition of Wogan when the Irish wit of British broadcasting was interviewing a Tory MP. The Tory made it clear he had no problem with the EU predecessor, the EEC or Common Market. This would have been because, as the European Economic Community, it offered Britain a trading area for our goods and services. What he made clear he didn’t like was the Social Charter. He and the rest of the Tories want to get rid of it in order to make it even easier to sack workers at will, and keep them on exploitative contracts that will deny them sick pay, maternity leave and annual holidays. They want more zero hours contracts and job insecurity. As well as the right, as Mike also points out in his article, to persecute the disabled, for which the Tory government has also been criticised by the EU and United Nations.

The Tories have also shown their extreme authoritarianism, like Blair before them, in passing legislation providing for secret courts. If the government considers it necessary because of national security, an accused person may be tried in a closed court, from which the public and the media are excluded, using evidence which is not disclosed to the accused. This breaks the fundamental principles of democratic, impartial justice. This is that justice should not only be done, it should be seen to be done. Hence the traditional practice of making sure people are tried with the public present. The secret courts are far more like the grotesque, perverted judicial systems of Kafka’s novels The Trial and The Castle, and which became a horrific reality in Nazi Germany and Soviet Russia.

The Tories are also keen to undermine British liberty in another way as well, by reintroducing identity cards. These were carried during the War, when Britain was in real danger from Nazi invasion and Fascist spies and saboteurs. But afterwards, as Zelo Street has reminded us, the government withdrew them because they were seen as a threat to traditional British freedom. Now Dominic Cummings wants to bring them back. So did Thatcher when I was at school in the 1980s. She didn’t get very far. It was rejected then, it should be rejected now.

Apparently the new identity cards will be online or something like that. But this won’t make counterfeiting them any more difficult. Way back in the 1990s the Indonesia government, hardly a bastion of liberal democracy, introduced a computerised identity card. This was supposed to be impossible to hack and and fake. Within a week there were fake cards being sold in the country’s markets.

This looks like a step towards the biometric identity cards Blair was also keen on in the late 90s. These were also condemned by privacy campaigners and opponents of state surveillance, and which eventually seem to have petered out. But it seems that the forces that were pressing for them then have now resurfaced to repeat their demands. And if they’re being made by a government determined to ‘get Brexit done’, then these cards cannot be blamed on the EU, as they were when I was at school.

The Tories have also shown themselves intolerant of demonstrations and protests. When Cameron was in power, he sought to stop or limit public demonstrations through legislation that would allow local authorities to ban them if they caused a nuisance. Mass gatherings and protest marches frequently can be a nuisance to those stuck behind them. But they’re tolerated because freedom of conscience and assembly are fundamental democratic rights. Cameron wished to place severe curbs on these rights, all in the name of protecting communities from unwelcome disturbance. And, in the wake of the Extinction Rebellion blockade of Murdoch’s printing works, Priti Patel wishes to have the press redefined as part of Britain’s fundamental infrastructure in order to prevent it from disruption from similar protests in future. Now that newspapers sales are plummeting thanks to the lockdown to the point where right-wing hacks are imploring you to buy their wretched rags, you wonder if she’s considering legislation making their purchase and reading compulsory.

Don’t be deceived. The repeal of the human rights act is an outright attack on traditional British freedoms by an authoritarian government intolerant of criticism and which casually violates the fundamental principles of justice and democracy. It may be dressed up as protecting decent, law-abiding Brits from crims and illegal immigrants, but this is just another pretext, another lie to get the sheeple to accept it. Tony Benn once warned that the way the government behaves to refugees is the way it would like to behave to its own citizens. He was right, and we shall it when the Tories withdraw from the European legislation currently protecting us.

I’ve no doubt the Tories will try to disguise this through retaining a sham, hollowed out semblance of justice, free speech and democracy. Just like the Soviet Union drew up constitutions guaranteeing similar freedoms to disguise its vicious intolerance. On paper communist East Germany was a liberal state and multiparty liberal democracy when the reality was the complete opposite. Even Mussolini made speeches claiming that that Fascist Italy was not a state that denied the individual their liberty.

The Tory withdrawal from EU Human Rights law is an outright attack on our British freedoms, not a gesture of defiance against European interference. It’s another move towards unBritish, but very Tory, despotism and dictatorship.

As if we didn’t have enough to deal with, Boris Johnson is reviving plans to end your human rights

https://zelo-street.blogspot.com/2020/09/online-id-cards-polecat-megalomania.html

Would Fascist Oswald Mosley Have Treated the Windrush Migrants Better than the Tories?

Oswald Mosley, the head of the British Union of Fascists, tried to get back into British politics after the War. He’d been interned during the War, but still wished to return and lead a far right party. His new outfit was simply called the Union Movement, and Mosley desperately and vehemently denied that he would have been a collaborator had there been a Nazi invasion, and that he wasn’t a racist or anti-Semite.

There’s footage on YouTube of an interview he gave on British television in the 1970s, from the same programme, I think, which the late, great antipodean TV critic, Clive James, reviewed in his column for the Absurder. Mosley’s interviewer asks him frankly about anti-Semitism and his attitude to the Jews. At this, Mosley gets visibly angry and starts to deny that he is or has been any such thing. This is interrupted by a working class bloke in the audience, who stands up to remind him that the ordinary working people of this country saw him off, and his mate Hitler during the War, and they’ll see him off again. It’s been suggested that if the Nazis had invaded Britain, Mosley wouldn’t have collaborated with them because he would already have been shot by Special Branch as a traitor. As for the anti-Semitism, it has been claimed that Mosley genuinely didn’t hate the Jews and the BUF only turned towards anti-Semitism from a mixture of opportunism, the anti-Semitism of some of it’s rank and file and Mosley’s subordinates and advisers, and as a reaction to the hostility to the movement from the Jewish community. More recent research suggests that Mosley may already have been anti-Semitic, and I don’t doubt that if somehow he had seized power and made Britain an ally or satellite or Nazi Germany, he would have cheerfully collaborated in the Holocaust.

Some of Mosley’s post-War political views are laid out in his 1961 book, Mosley – Right Or Wrong? The book’s arranged as a series of questions on issues like the Empire, international relations, race, industry, the economy, trade unions and so on. Section 13 is on the ‘Colour Question in Britain, Immigration, The Racial Question’. In it, Mosley tells the reader what he intends to do about non-White immigrants. His solution is compulsory repatriation, but he claims he won’t be inhumane, because those deported will have their fares paid. He also intends to avoid criticism from Britain’s Black colonies by making sure Britain buys their products and helps their economy rather than their competitors’. This means, for example, that he would buy sugar from Jamaica rather than Cuba. Question 116 in this section asks the wannabe dictator how he would deal with coloured students and and coloured immigrants, who have been here a long time. Mosley’s reply is that he would continue to allow coloured people to come here for their education and that they would be made welcome. As for non-Whites, who have been resident in Britain for a long time, he states that those,

who have been good citizens and have developed roots in this country will also not be sent away. For this reason we propose that all coloured people of this character who came here before the last war, should be allowed to stay, if they wish. They are too few to create any serious problems. And on the whole they have been good citizens of Britain. (p. 118).

You can compare that with Tweezer’s and the Tories’ deportation of the Windrush Migrants. They’d been resident here for a similar length of time or more than the non-White immigrants Mosley was talking about. They also had a guaranteed legal right to remain, which Tweezer as home secretary illegally removed. It may therefore seem possible from the above passage in which Mosley states he’d let some non-White immigrants remain, that he, a horrendous Fascist, would also have respected the Windrush immigrants rights to remain.

In fact I doubt very much that he would. The history of Fascism shows that they can’t be trusted and that however moderate and respectable they appear, the reality is always dictatorship, brutality, violent repression and mass murder. Fascist leaders like Hitler and Mussolini were able to win power partly through propaganda and carefully tailoring their message to their audiences. If Hitler was speaking in a very traditionally left-wing, working class district, he’d stress the anti-capitalist strand of Nazi ideology. When campaigning in a traditionally right-wing, anti-Semitic area, he’d attack the Jews. Mosley and the other Fascist and Nazi groups were presented with the problem after the War that Europe had had enough of it. The British people had seen and fought against its horrors and weren’t going to tolerate its revival. Hence Mosley’s attempts to present himself in a more moderate light. He states at one point that he dislike the word ‘racist’ because it implies that one race is superior to another, which he rejects. Well, he might have done, but that won’t stop anyone reading him coming to the conclusion that a racist was precisely what he was. I don’t doubt therefore that if by some miracle of medicine Mosley had lived on and been in power a few years ago, he would have deported the Windrush immigrants like Theresa May and the Tories.

What is alarming is not that he would have done – you’d expect it from a Fascist leader – but that Mosley could sound more moderate and tolerant in some respects than the leaders of the modern Conservative party. Or if he doesn’t, then he doesn’t sound that much more extreme, either.

And that should show you how much trouble we’re in, and how much the Tories are moving to the extreme right.

The Salisbury Convention

Published by Anonymous (not verified) on Sat, 12/09/2020 - 6:31pm in

Following on from my previous piece, a friend has advised me that the Lords are constitutionally incapable of rejecting a manifesto commitment. As indeed they are, under the so-called Salisbury Convention. (Goodness knows why the government should object to the Lords rejecting a bill when they themselves think they should be able, without problem, not... Read more

Only the Lords can now save us

Published by Anonymous (not verified) on Fri, 11/09/2020 - 5:00pm in

From the collapse in the rule of law achieved by the Conservative’s United Kingdom Internal Market Bill… The Lords are our last hope. Very simply, relevant clauses “have effect notwithstanding any relevant international or domestic law with which they may be incompatible or inconsistent”. Whilst there is doubt I suggest, whether this in itself is... Read more

George Christensen Tipped To Be Named Trade Ambassador For The Philippines

Published by Anonymous (not verified) on Wed, 09/09/2020 - 8:15am in

Australian Politician George Christensen is rumoured to be named the new trade ambassador for the Philippines, following in the footsteps of former Prime Minister Tony Abbott who has taken on a role as a trade ambassador for the United Kingdom.

”I really can’t wait to get down and dirty in Manilla and help the Philippino people to reach out and bring their country to a climax,” said the Member for Manilla. ”It is amazing what the people of the Philippines can do, their skills in ping pong alone are astounding.”

”I was showing my colleague Barnaby Joyce a couple of videos and already he has his bags packed and is ready to travel.”

When asked whether working for another country whilst being a member of the Australian parliament was somewhat counter productive, the member for Manilla said: ”Nonsense, I spend most of my time already, either in the Philippine’s or online watching videos from the Philippines so it makes sense that I get some coin to do so.”

”Besides, Tony Abbott is getting paid by the tax payer and working for the UK, so if it’s good enough for Tones, why not I?”

”Now, if you’ll excuse me, I’m off to Rebel sport to stock up on some ping pong balls.”

Mark Williamson

@MWChatShow

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The Tories Are Economic Saboteurs – Get the Gulags Ready!

The former Soviet Union had a series of legislation defining and punishing economic crimes. As all industry and agriculture was nationalised and the country a single-party totalitarian state, any attempt to disrupt this situation was considered subversive and attack on the Soviet system and state itself. This meant that people could be jailed for organising a strike or industrial dispute, or for simply trying to set up their own, independent private company. This was actually permitted under the Soviet Constitution, but was limited to self-employment. Thus when Gorbachev started glasnost and liberalising the economy in the 1980s, one of the first developments was the rise of private taxis by people with their own cars. Under hardliners like Brezhnev, however, any attempt to set up one’s own company was strictly punished, and the offending entrepreneur sent to the gulags. It was declared to be and punished as sabotage and anti-Soviet activities.

Stalin justified his terror and mass arrests in the 1930s through lies that the Soviet Union and its economic development were under threat from an army of saboteurs. Secret agents and collaborators with the capitalist West, including the followers of his exiled rival, Trotsky, were active causing disaffection with Stalin’s personal rule and plotting to cripple and destroy Soviet industry and agriculture. 30 million Soviet citizens were falsely accused, convicted and either executed or sent to the gulags to die of starvation and overwork.

But now in neoliberal, capitalist Britain, the Tory party really does seem to be trying to sabotage this country’s industry and agriculture. Boris Johnson’s Tory are heavily funded by hedge funds, who are shorting the British economy. They’ve gambled on a no-deal Brexit ruining Britain. And so Boris and his coterie are pushing for precisely that type of exit from the EU. Yesterday the Boorish Bozo and his minions announced that they were going to tear up the deal they’d already agreed with the EU, in order to push for something better. This, as Mike has pointed out, just shows the EU that we can’t be trusted. It’s weakened our position, and made such a disastrous Brexit even more likely. At the same time, it’s been estimated that a third of British farmers could go under in five years thanks to such a Brexit and the probable imposition of agricultural tariffs by the EU.

If Boris and the Tories, or at least his faction, are determined on a no-deal Brexit, because it will destroy British firms and farms, for the enrichment of the hedge funds, then they are guilty of economic sabotage.

In the Soviet Union, they’d be sent to the gulag for it. But as it stands, they’re supported by the British media, and so distort and spread lies blaming everyone but themselves, especially the EU.

See: https://voxpoliticalonline.com/2020/09/07/if-johnson-is-ready-to-renege-on-eu-withdrawal-agreement-whats-the-point-in-a-trade-deal/

I can’t remember where I read it, but one of the commenters on Mike’s blog also suggested that after Boris has done his job and wrecked our once great nation, he’ll take his money and flee abroad.

Which is what any number of truly horrific dictators have done throughout history. I’m thinking of people like Idi Amin, the butcher who ruled Uganda in the 1970s. After he was ousted he fled to Yemen or Jordan or somewhere, where he holed up very comfortably in a luxury hotel.

One of the problems with the developing world is that its dictators and ruling class loot their countries and peoples without putting anything back. They don’t spend the money they’ve stolen consuming any of their nations’ traditional products. They just hoard it abroad in Swiss bank accounts. Mugabe in Zimbabwe is a case in point.

And Boris and the Tories are doing something similar. Which means that what is said about these tyrants can be said about them:

The Tories are kleptocrats trying to turn Britain into a third world country!

If there are people, who count as ‘economic criminals’ who deserve to be thrown into a forced labour camp, it’s them.

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