Give the People What They Want
You hear a lot about financial market volatility, but not enough about political volatility. Take for example the UK, who are about to have their third Prime Minister in two months, add financial volatility to the middle of the mix. Good thing new PM Sunak is ex-Goldman and a number of hedge funds! The City won’t have to worry about getting all their junk paid in full, in pounds, for whatever that’s worth.
His wife, Akshata Murty, soon to be Prime Minister’s wife, is daughter of a tech-billionaire. She, the new PM’s wife, hadn’t paid tax in England on a net-worth estimated to be at least 700 million pounds, as reported, the irony grows richer, by Microsoft. The greatest irony, Mr. Sunak gains his position because PM Truss’ ill-advised tax cut proposal caused financial volatility. No need for tax cuts if you don’t pay taxes.
I suppose this all can be expected from a country that still has a monarchy. But here’s an interesting point of fact about the coming American elections. It looks quite likely to be the fifth time in less than 30 years control of the House changes. This in comparison to the sixty years before, control of the House changed only once, and for only one term.
The Reps drip vengeance. They are long masters of inquisition, Biden Family Inc. will top the list. Greater volatility guaranteed.
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