Best of the Week
Most Popular
1. US Housing Market Real Estate Crash The Next Shoe To Drop – Part II - Chris_Vermeulen
2.The Coronavirus Greatest Economic Depression in History? - Nadeem_Walayat
3.US Real Estate Housing Market Crash Is The Next Shoe To Drop - Chris_Vermeulen
4.Coronavirus Stock Market Trend Implications and AI Mega-trend Stocks Buying Levels - Nadeem_Walayat
5. Are Coronavirus Death Statistics Exaggerated? Worse than Seasonal Flu or Not?- Nadeem_Walayat
6.Coronavirus Stock Market Trend Implications, Global Recession and AI Stocks Buying Levels - Nadeem_Walayat
7.US Fourth Turning Accelerating Towards Debt Climax - James_Quinn
8.Dow Stock Market Trend Analysis and Forecast - Nadeem_Walayat
9.Britain's FAKE Coronavirus Death Statistics Exposed - Nadeem_Walayat
10.Commodity Markets Crash Catastrophe Charts - Rambus_Chartology
Last 7 days
The Big Short 2020 – World Pushes Credit/Investments Into Risk Again - 11th Jul 20
The Bearish Combination of Soaring Silver and Lagging GDX Miners - 11th Jul 20
Stock Market: "Relevant Waves Vs. Irrelevant News" - 10th Jul 20
Prepare for the global impact of US COVID-19 resurgence - 10th Jul 20
Golds quick price move increases the odds of a correction - 10th Jul 20
Declaring Your Independence from Currency Debasement - 10th Jul 20
Tech Stocks Trending Towards the Quantum AI EXPLOSION! - 9th Jul 20
Gold and Silver Seasonal Trend Analysis - 9th Jul 20
Facebook and IBM Tech Stocks for Machine Learning Mega-Trend Investing 2020 - 9th Jul 20
LandRover Discovery Sport Service Blues, How Long Before Oil Change is Actually Due? - 9th Jul 20
Following the Gold Stock Leaders as the Fed Prints - 9th Jul 20
Gold RESET Breakout on 10 Reasons - 9th Jul 20
Fintech facilitating huge growth in online gambling - 9th Jul 20
Online Creative Software Development Service Conceptual Approach - 9th Jul 20
Coronavirus Pandemic UK and US Second Waves, and the Influenza Doomsday Scenario - 8th Jul 20
States “On the Cusp of Losing Control” and the Impact on the Economy - 8th Jul 20
Gold During Covid-19 Pandemic and Beyond - 8th Jul 20
UK Holidays 2020 - Driving on Cornwall's Narrow Roads to Bude Caravan Holiday Resort - 8th Jul 20
Five Reasons Covid Will Change SEO - 8th Jul 20
What Makes Internet Packages Different? - 8th Jul 20
Saudi Arabia Eyes Total Dominance In Oil And Gas Markets - 7th Jul 20
These Are the Times That Call for Gold - 7th Jul 20
A Reason to be "Extra-Attentive" to Stock Market Sentiment Measures - 7th Jul 20
The Beatings Will Continue Until the Economy Improves - 6th Jul 20
The Corona Economic Depression Is Here - 6th Jul 20
Stock Market Short-term Peaking - 6th Jul 20
Gold’s Major Reversal to Create the “Handle” - 5th July 20
Gold Market Manipulation And The Federal Reserve - 5th July 20
Overclockers UK Custom Build PC Review - 1. Ordering / Stock Issues - 5th July 20
How to Bond With Your Budgie / Parakeet With Morning Song and Dance - 5th July 20
Silver Price Trend Forecast Summer 2020 - 3rd Jul 20
Silver Market Is at a Critical Juncture - 3rd Jul 20
Gold Stocks Breakout Not Confirmed Yet - 3rd Jul 20
Coronavirus Strikes Back. But Force Is Strong With Gold - 3rd Jul 20
Stock Market Russell 2000 Gaps Present Real Targets - 3rd Jul 20
Johnson & Johnson (JNJ) Big Pharma Stock for Machine Learning Life Extension Investing - 2nd Jul 20
All Eyes on Markets to Get a Refreshed Outlook - 2nd Jul 20
The Darkening Clouds on the Stock Market S&P 500 Horizon - 2nd Jul 20
US Fourth Turning Reaches Boiling Point as America Bends its Knee - 2nd Jul 20
After 2nd Quarter Economic Carnage, the Quest for Philippine Recovery - 2nd Jul 20
Gold Completes Another Washout Rotation – Here We Go - 2nd Jul 20
Roosevelt 2.0 and ‘here, hold my beer' - 2nd Jul 20
U.S. Dollar: When Almost Everyone Is Bearish... - 1st Jul 20
Politicians Prepare New Money Drops as US Dollar Weakens - 1st Jul 20
Gold Stocks Still Undervalued - 1st Jul 20
High Premiums in Physical Gold Market: Scam or Supply Crisis? - 1st Jul 20
US Stock Markets Enter Parabolic Price Move - 1st Jul 20
In The Year 2025 If Fiat Currency Can Survive - 30th Jun 20
Gold Likes the IMF Predicting a Deeper Recession - 30th Jun 20
Silver Is Still Cheap For Now - 30th Jun 20
More Stock Market Selling Ahead - 30th Jun 20
Trending Ecommerce Sites in 2020 - 30th Jun 20
Stock Market S&P 500 Approaching the Precipice - 29th Jun 20
APPLE Tech Stock for Investing to Profit from the Machine Learning Mega trend - 29th Jun 20
Student / Gamer Custom System Build June 2020 Proving Impossible - Overclockers UK - 29th Jun 20
US Dollar with Ney and Gann Angles - 29th Jun 20
Europe's Banking Sector: When (and Why) the Rout Really Began - 29th Jun 20
Will People Accept Rampant Inflation? Hell, No! - 29th Jun 20
Gold & Silver Begin The Move To New All-Time Highs - 29th Jun 20
US Stock Market Enters Parabolic Price Move – Be Prepared - 29th Jun 20
Meet BlackRock, the New Great Vampire Squid - 28th Jun 20
Stock Market S&P 500 Approaching a Defining Moment - 28th Jun 20

Market Oracle FREE Newsletter

AI Stocks 2020-2035 15 Year Trend Forecast

Why Labour Lost Election 2015, Who will be Next New Labour Leader?

ElectionOracle / UK General Election May 11, 2015 - 01:47 PM GMT

By: Nadeem_Walayat

ElectionOracle

Labour suffered its worst defeat in over 30 years, putting the party back to where it stood under the disastrous leadership of Michael Foot, and even worse when considering the blood bath in Scotland where the Labour party was born, which saw the Scottish Nationalists take every Labour seat bar 1. The election result has shocked about half the electorate whilst surprising the rest as what amounted to daily worthless opinion polls had led the nation to believe that this was a neck and neck election race, one in which where even if Labour had won far fewer seats than the Conservatives then Labour were still likely to go on and form next government as illustrated below:


Opinion pollster's seats forecasts averaged to:

  • Conservatives : 276
  • Labour : 271
  • SNP : 53
  • Lib Dems : 25
  • DUP 8

Which were forecasting an extreme hung parliament -

Conservatives + Lib Dems = 301 - FAIL

Add DUP 8 seats = 309 - FAIL

Labour + Lib-Dems = 296 - FAIL

Labour + Lib-Dems + Plaid Cymru + Greens = 303 - FAIL

Thus according to the opinion polls the only workable majority would have been one of a minority Labour government supported by the SNP (53) to total 323.

However, those who had followed my series of articles number approx 60 and accompanying videos would have received the unequivocal message that the opinion polls were wrong and that the Conservatives could even win a single digits outright election victory.

01 May 2015 - UK Election Forecast 2015 - Who Will Win?

The updated election seats trend graph suggests that the Conservatives are on target towards achieving a single digits outright majority which is completely contrary to every opinion poll published this year. Which if it materialises then I am sure for Election 2020 everyone will be staring at the house prices indices rather than the opinion polls. Though as is usually the case that when the consensus becomes focused on an particular indicator then it usually stops working.

With the accompanying video published on 3rd of May that also confirmed that UK house prices were forecasting a single digit outright Conservative election victory, which was contrary to every opinion poll and political pundit:

Why Labour Lost ?

Whilst the mainstream press will be obsessed with the SNP Labour blood bath in Scotland, Labours poor economic record in government, all of which I covered at length before the election for instance that the Conservatives would win because it was the ECONOMY STUPID! Something that a collectively clueless mainstream press had virtually completely missed the implications of as my video of early April illustrates:

And earlier still here - 11 Mar 2015 - General Election Forecast 2015 Stealth Economic Boom - Why Opinion Polls are WRONG!

However, leaving aside the above which ensured that Labour stood a poor chance of winning the 2015 general election regardless of what the opinion polls were stating, in my opinion the real reasons why Labour lost the election are -

1. Choosing the WRONG Leader

Labour had effectively lost the 2015 election back in 2010 when the Unions anointed Ed Miliband to wave the red flag!

16 Mar 2015 - Election Forecast 2015: The Day Labour Lost the General Election

Following abandoning government in 2010, Labour then had an golden opportunity to plan for their next government in 2015, all they had to do was to take their time to choose a new leader who would appeal to the voters and then sit back and profit from the Coalitions painful attempts at fixing a near bankrupted economy, where 5 years of economic austerity virtually guaranteed that Labour would win in 2015.

However, as I mentioned at the start, Labour is good at choosing the WRONG leader and the following video shows exactly what happened in 2010 -

The the highly charismatic clear and present danger to the Tories, David Milliband was beaten by his 'can't even eat a hamburger properly' younger brother, Ed Milliband to audible gasps from the audience. How could David Milliband lose when the majority of party members and MP's voted for him, the answer is the back room deals union block votes, which means those that the likes of the GMB and Unite favour (candidates suck up to the most) get elected as leader.

The most recent party leader popularity polls illustrate the problem Labour has, as an Ipsos Mori poll states only 30% of voters like the labour leader compared to 39% for David Cameron.

Therefore, Labour lost the next election in September 2010 which sowed the seeds for the slow evaporation of any certainty of Labour winning the next general election, as each passing year has seen Labours lead in the polls melt away to now stand approximately where they were on election day 2010!

The problem is the unions, for until Labour makes the change to one member one vote then Labour will nearly always select unelectable unionites who tend to be weak leaders who are subservient to the unions and not priministerial material.

In terms of the election probabilities, Ed Milliband has always worked in the Tories favour, as the more he is seen the more voters are put off from voting Labour to the point today where as my earlier analysis concluded there is now an increasing chance for an outright Conservative election victory, especially as voters have several more weeks of Ed Milliband to look forward to.

2. Labour a Party for Immigrants and Benefits Scroungers

Labour dancing to the SNP's tune was only the tip of the socialist ice-berg for the red flag flying Ed Miliband painted a picture of a class struggle between the 99% and the 1%, when in reality it was Labour that demonstrated itself as being the party of immigrants and benefits scroungers and not the workers, i.e. approx 25% vs the hard working 75% which is the real reason why Labour lost the election as Labour made it clear it would go on a debt fuelled spending binge to reward the most laziest in society to the cost of Britain's workers, where the SNP was just an extra dozen or so nails in Labours coffin.

08 Mar 2015 - Vote Labour Get SNP Catastrophe - General Election 2015 Forecast - Grand Coalition Possible

Therefore to imagine a Labour - SNP supported government is going to be able to stick to its debt promises is delusional because the often hyped of economic austerity Con-Dem Coalition are themselves looking set to borrow an extra £130 billion over that which they promised they would. Which means the £180 billion of extra SNP led borrowing could easily double to £360 billion of EXRA borrowing which implies that the current debt total of £1.5 trillion could easily soar to £2.5 trillion by the end of the next parliament, double the £500 billion of Coalition debt added to Britain's debt mountain that makes a mockery of politicians when they make claims that the deficit will be cut and debt repaid.

The only answer / solution that all governments have remains one of stealth default by means of high real inflation hence the Inflation Mega-trend. Inflation is a REQUIREMENT for the Debt Based Economy, this is how governments keep putting off the day of reckoning by attempting to inflate the debt away with printed money and then borrowing more money to service the debt interest which is why virtually all money in an economy is debt money that will NEVER be repaid.

When George Osbourne and David Cameron are stating that they are paying down Britain's debt, they are LYING! The same goes for Ed Milliband if he states that he will cut Britain's debt. NO GOVERNMENT DEBT IS BEING REPAID OR WILL EVER BE REPAID! Instead the truth is that the WHOLE of the economic growth (in real terms) since the May 2010 General Election and continuing into the May 2015 General Election will be wholly as a consequence of some £550 billion of additional DEBT. Again this is a very important point to note that ALL of the economic growth of this parliament is DEBT based, ALL of it, including the current election boom, the debt accrued over the 5 year term will equate to total real terms increase in GDP - virtually pound for pound which is why there is a cost of living crisis because printing money (debt) does not increase productivity, all it does is inflate the money supply.

You should realise by now that the constant drivel about the threats and risks of debt deflation are nothing more than propaganda so as to allow policies such as quantitative easing (money printing) to be more palatable to the general population so as to ensure that the Inflation Mega-trend continues, and all that an Labour-SNP pseudo coalition promises is an even greater magnitude to the cost of living crisis for Britains (England's) hard working tax payers as their productive capacity is funneled as election bribes towards Labour - SNP voting regions and the 8 million or so vested interests sat on their lard asses on benefits for life.

And those are the two primary reasons why Labour lost the 2015 general election. They chose the WRONG leader and then focused on Britain's SLOTHS. Whilst ignoring most of Britain's hard working families who want to better themselves, where the message from was Labour that they would do their best to keep the people sedated on benefits for life so that they would become vested interest Labour voters.

People want jobs, REAL JOBS! and not the worthless paper pushing public sector pseudo-jobs.

People want education, REAL education and not the 80% of worthless -ologie degrees that socialist Universities tend to pump out which result in graduates finding themselves working in Burger King for that is the value of their degrees.

People want a welfare state, a REAL welfare state that supports people when they actually need help, and not the lazy lard asses parked on benefits for life culture that the Labour party promotes.

People want the borders to be controlled, REAL BORDER CONTROL - What's the point of Labour promising to build 200,000 homes per year when it would have ended up letting in over 1/2 million of new migrants per year.

Therefore the Labour party was fighting the WRONG election, instead of 2015 the party was stuck in a time warp by fighting a 1970's election.

And that's what Labour needs to realise and fix, else it will lose the NEXT election as well!

Labours Next / New Leader

Therefore for Labour to even stand a chance of winning the 2020 General Election then they need to elect an centralist leader, a fresh face and not the likes of Yvette Cooper who shortly after the BBC exit poll was released after 10pm on 7th May angered many of the electorate by stating that if the exit polls were correct then David Cameron had lost the election and so Labour would go on to form the next government.

A disgraceful display that that revealed to the public Labours true undemocratic colours.

Labour needs a FRESH FACE, someone who was not part of the last Labour government.

This is my opinion on Labour politicians who are likely to stand for leader:

  • Yvette Cooper - Disastrous choice, old Labour
  • Andy Burnham - Disastrous choice, old Labour
  • Chuka Umunnna - Disastrous choice, london elite.
  • Rachel Reeves - Disastrous choice, london elite, would wind up the electorate to no end with her constant whining for benefits scroungers.
  • Stella Creasy - A hint of a young Margaret Thatcher, could surprise.
  • Tristram Hunt - Unsure, could surprise as did Blair.
  • David Lammy - Disastrous choice, london elite.
  • David Miliband - Ed's older brother, too late, the country could not stomach another Miliband for 5 years.
  • Liz Kendall - Blairite, Unsure.

So out of the current list of possible's, so far only Tristram Hunt, Stella Creasy and Liz Kendall stand out as standing any chance of reversing Labours fortunes. Whilst the favourites - Chuka, Andy and Yvette as Labour leader would virtually guarantee another Conservative 2020 election victory. Therefore it is highly probable that Labour could make another huge blunder by electing the wrong Leader just as they did in September 2010.

Labour needs to ditch the red flag and instead over the next 5 years create a NEW, NEW Labour party that rewards HARD WORK and NOT SLOTH. For in the 2015 election Labour presented itself as the party of SLOTH.

To find out WHY the opinion polls got it so badly wrong then ensure you are subscribed to my always free newsletter for my in-depth analysis and detailed trend forecasts.

Source and Comments: http://www.marketoracle.co.uk/Article50629.html

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2015 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 25 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules