GB News’ crushing of Militant Wokery has made the many companies threatening to boycott the new channel look very stupid. The woke agenda was basically “be nice”, but has been hi-jacked by militant cadres, becoming “be nice or else, and we define what is nice.” It’s a form of politics that can and will move markets.
Across the Occidental Economy there seems a trend towards political failure as polarization, sleaze and opportunism takes hold, even as electorates suffer from increasing inequality and declining prospects. As the threat of post-pandemic inflation rises, the ingredients are all there for further instability and labour strife. It’s all happening as the geo-political spheres of influence between China and the West are being redrawn.
Markets anticipate the end of pandemic, but the news flow from India highlights ongoing global crisis and Covid is here for the long-term. The risk of political instability from failed Covid policies is high. In the UK, political instability could ratchet higher on the rising tide of Tory sleaze and Dominic Cummings taking his revenge cold.
This morning: Welcome to the New Morning Porridge! Its International Women’s Day! How strong might be the fallout from the collapse of Greensill and unravelling of Gupta in a market already wary of politicians?