THE FOLKS SPOKE

Couldn't resist an Obama take on the election.  The result was so unexpected as to be unbelievable.  The Tories emerged with a clear majority; The Liberal Dems were destroyed, perhaps forever; The Scottish Nationalists are probably still trying to figure out how the hell this happened and Labor...well, the longest day turned into one of the worst days in their history.

I still haven't gotten my arms around what all this means except for the simple stuff Like David Cameron being able to push through his agenda without cutting side deals here and there with the no longer existent Libs.  But, there is so much more to this with ramifications extending most certainly to Europe and to the U.S. as well.  If the Euros are concerned about a Grexit and what that would do to the Union, what then would be the effect of a Brexit?  Remember, Cameron promised a referendum on British membership.  He will have to fulfill that promise absent a dramatic change of course in Brussels.

I' going to take the weekend to talk to everybody I know and try to figure this out as there is no other story so big or so important.  If nothing more, London will probably still remain as the center of the financial universe which is not at all a bad thing if the political-driven stupidity of the past couple of years can be halted and I suspect it will.  So, unless something else takes over, we'll be back on Monday with an analysis that hopefully will make sense.


Job number came in as expected and unemployment is down to 5.4%.  The DOW responded, having nothing better to do, and rose 250 points or so helped no doubt by the election.  Great stuff...except that the percentage of the work force actually working fell below 70%.  It's been 40 years since that happened.  Oh yeah, last month's numbers got revised to practically nothing.  Why do I believe less and less of what the government tells me.

Happy Mother's Day, moms.

THE LONGEST DAY

It's the day of the Election and the polls have just closed.  Early reporting indicates that the Conservatives have done better than expected; the Scottish Nationalist Party has swept Scotland, slaughtering all Laborites in their advance, but the clear result seems to be a coalition, with whomsoever needing 326 votes in Parliament to form a government.  That, in the real world doesn't work so unless there are some dramatic shifts in what the poll takers believe will be the result, the not-so-United Kingdom is in a hell of a state...as will be Europe, as will be the "special relationship," as will be NATO.  Should the Laborites, the Scottish Nationals and a group of other odds and sods come out on top, there will be...hell, I don't know what there will be.  One thing for sure, if you have a couple of hundred million laying about, there might be some rather interesting opportunities for space in the City and the West End.



...Just checked with Mad Max.  He says the pound is gangbusters in Asia.  Maybe they know something we don't...and will not until about midnight EST.   I'll be up.  Too big not to be.  It will be the Longest Day.