by Martin Armstrong, Armstrong Economics:
Perhaps there is some new plague that only affects politicians on a global scale. It seems no matter what country we look at, it is simply going completely insane politically. Americans rarely understand Parliamentary politics in London for it is not unusual for Trump to meet with the Democrats, Chuck and Nancy, in the White House. In British politics, there is no pretend bipartisanship where there are meetings between the parties. The structural difference in a Parliamentary system is that the ruling party controls everything and the opposition party might as well just go on holiday.
Here, the mere fact that Prime Minister Theresa May is meeting with the head of the Labour Party is earth-shattering to say the least. It illustrates that May will not compromise for it is very clear that she will not yield to her own people and is attempting to force the EU’s demands down everyone’s throat.
The latest polls show that the majority of British have had enough. They just want to exit the EU without any deal whatsoever. There is absolutely NOTHING to gain from an EU deal. Britain will be the major loser and it will surrender its sovereignty in the process if it does not get out and run as fast as it can. It will be the EU which is the loser – not Britain. They still need the oil from Britain when they have none except from Scandinavia. Britain is the #1 market for German cars. Watch how the German economy collapses into the bottom of the ECM in a very hard landing.