Theresa May Brexit Deal Resoundingly Rejected by U.K. Parliament….


The British Parliament resoundingly rejected the proposed Brexit deal put forth by Prime Minister Theresa May earlier today.  Government officials on both sides of the contentious economic argument, globalists and nationalists, found little to support in May’s insufferable attempt to split the baby.  The vote was 432-Nay, and 202-Yea.

(Via Fox News) British lawmakers on Tuesday rejected Prime Minister Theresa May’s proposed deal to exit the European Union by a resounding 432-202 vote, dealing a major setback to negotiations just 10 weeks before the United Kingdom is set to withdraw from the international body.

The vote leaves the country with no clear plan to implement Brexit and raises questions about May’s future as prime minister. The rejection was widely expected and dealt the British government its biggest defeat in the House of Commons in more than a century.

[…] The deal was doomed by deep opposition from both sides of the divide over U.K.’s place in the bloc. Pro-Brexit lawmakers say the deal will leave Britain bound indefinitely to EU rules, while pro-EU politicians favor an even closer economic relationship with Europe.

The government and opposition parties ordered lawmakers to cancel all other plans to be on hand for the crucial vote. Labour legislator Tulip Siddiq delayed the scheduled cesarean birth of her son so she could attend, arriving in a wheelchair.

As lawmakers debated in the House of Commons chamber, outside there was a cacophony of chants, drums and music from rival bands of pro-EU and pro-Brexit protesters. One group waved blue-and-yellow EU flags, the other brandished “Leave Means Leave” placards. (read more)

 

Germany Slips into Recession Following the Economic Confidence Model


COMMENT: Mr. Armstrong; Your ECM has been amazingly accurate. Not only did real estate peak, but it is now official, Germany is in a recession.

Great job

HW

REPLY: There is an accurate business cycle that unfolds but you must step back and observe it from a global perspective. The Economic Confidence Model has a long track record.  The numbers are shocking. For 8 out of 12 months in 2018, German production has declined. On average, manufacturing declined 4.1% in November and energy production decline 3.1% in November. Even new construction has declined 1.7%.