I hear that there is some kind of election that is close and this could be effecting cable...anyone have any information?
Labour's Brown (current PM) took over from Blair and was never voted in by the public. The knives are out for him and the newspaper 'The Sun' has changed camp from Labour to Conservative about 6 months ago. Cameron, the leader of the Conservatives was 20 points ahead in the polls about 6 months ago, but the gap has closed big time and it seems that he is only in the lead by 6 points, which means that the UK could have a hung parliament for the 1st time since the 70s. If it is a hung parliament it will be very bad news for the UK and GBP.
Hence the £ dropped big time today, because markets are looking for clear direction from the UK with regards to Govt Debt standing at about 70% of GDP and 12% yearly deficit, which is the same as GREECE, although Greece has 130% debt of GDP, UK will not be far behind with a huge monthly deficit... can't remember the figures at the top of my head.
With a hung parliament there will be no clear direction as the two opposing parties (Labour and Conservatives) have very different ideas how to come out of this recession, which we just did, although a very fragile recovery. Labour (Democrats) wants to spend out of recession (and is doing so spendidly!) whereas Conservatives (Republicans) want to stop spending and start paying back to reduce the current deficit (and increase taxes). Labour have been in power since 1997 and Brown famously said back in 2006 "With Labour, there is no more boom and bust"
but then again with the performance of the £ today and the general outlook, it seems that you might not have to wait as long :-)
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...Im just kidding, highly illegal to collude or share inside trade information, but we can still dream.
