Boris Snaps and Investors Pound it
The everlasting hamster wheel that is Brexit has started spinning dangerously fast again. We have casualties, we have chaos, and now some investors have a plot to profit from it all.
On Monday, Prime Minister Boris Johnson said he didn’t want an election. By Tuesday, he’d fired over twenty members of his own party and announced one. In the space of twenty-four hours, “rebels” on his side had undermined him with a vote for yet another Brexit delay. It’ll take the UK beyond the October 31st end to this nightmare that BoJo promised.
Rebels sacrificed themselves to give Parliament longer to hash this all out, and maybe avoid crashing out without a deal. However, Boris won’t give up that easily! Snap, he’s ordered everyone to the polling stations. It’s Team Boris versus Team Corbyn in an election to decide if he gets to plow on as if none of this ever happened, or if Britain instead gets an extreme left-wing politician in the Prime Ministerial hotseat.
Markets are taking their anger out on the pound, throwing good British stocks into the bargain bin. With or without a deal, gaps in the trade paperwork will be filled over time, and economies will recover. Still, the smart money will be made now while the UK’s FTSE 100 stock market is bombed-out by Brexit. Johnson is also the favorite to win against Jeremy Corbyn, so stocks like the Royal Mail could breathe a sigh of relief on election day if they’re not to be nationalized by the Labour leader.
It all rests on that election, however. Those in Boris’s camp want to leave it late, but as Tuesday proved, most of Parliament isn’t in the Boris camp! You couldn’t make this up!