Monday, May 10, 2010

Tory threat of Market Meltdown fizzles out.

We have been assured that the Markets are against a hung parliament, and that they demand a swift agreement on the next Government.

The Market is always prone to throw its toys out of the  pram if the people have the effrontery to choose not to return a Tory Government. Threat of market disapproval is one of the instruments used by Tories to whip voters into line. It was used effectively by the Tory press to deflate the Clegg bubble.

So it gives me much pleasure to report that the Markets today are up on Friday.
"According to data compiled by Bloomberg, the pound is undervalued by 13 per cent against the euro and is viewed as in rude health when compared against the single currency".

Of course, much of the improvement is due to the Greek bailout, but even so, it just shows how inaccurate the threats  of market meltdown from a hung Parliament were.

 Truly, the preponderance of the Tory press (3:1 advantage over the progressive press - Guardian, Indie and Mirror amounts to a massive propaganda machine.

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