We are still picking up the emotional pieces in the immediate morning after the disaster before. Dazed, confused, barely able to appreciate the long, insurmountable task ahead. But if, amid the actual chaos, you want to understand why the election result is such a grim and terrible thing, check the stock market.
The “markets”, that celestial sphere of imagination and speculation where no actual goods are sold, reacted with nervousness before the election results were in, as the “markets” feared a Labour victory. They need not have worried.
Cameron’s smarmy victory calmed them all down and offered a happy finish, and all the bad guys got rich. The luxury property market for foreign investors; the large corporations who employ slave labour; the arms dealers; the private rail companies; the foreign-owned utility companies. See how many times you let out a triumphant cheer and effect an air-punch when you learn that Sports Direct, which has 15,000 of its employees on zero-hours contracts, added £95m to its share price overnight; the private rail operator Stagecoach added £140m to its stock market value as the “threat” of putting the East Coast mainline back into public ownership vanished; Babcock International and BAE Systems, war hawkers by appointment, celebrated the disappearance of the “threat” to Trident with rising share prices to the tune of £460m added to Babcock’s; shares in estate agents Savills, the London-based Foxtons and “upmarket” housebuilders Berkeley jumped upwards; surprisingly British-owned energy giant Centrica went up 8%; RBS and Lloyds added £5.5bn to their combined value (the Tories plan to sell their shares in both) and “cheers” were heard on the trading floor of the City when Ed Balls lost his seat (mind you, I cheered too, for different reasons); perhaps most galling of all, useless outsourcing companies G4S and Serco all benefited on the stock market as the Tories are gung-ho for farming out more public services to private companies, who will fuck them up; oh, and Ladbrokes, those arm’s-length destroyers of men, added £96m, as Milband had been planning to cut down on the number of fixed-odd “betting terminals” allowed in betting shops – and a continued Tory Britain will guarantee more people desperate for money, the bookies’ best customers.
That’s who’s going to benefit from five more years of this. If you’re happy about that, fine. Actually, no, if you’re happy about that, fuck off.
See you at the bottom.