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Jack Rasmus

Yesterday, December 12, 2019, the British parliamentary election gave conservative Boris Johnson a big victory, and leveled an historic defeat on the British Labour Party not witnessed since 1935. Johnson now has an absolute majority in Parliament and his quick march to a hard Brexit is now very likely.

Once the leading global capitalist economic world power, Britain is now doomed eventually to decline economically to a force in the global economy more or less equal to that of northern Italy in terms of GDP. Its last major role in the global economy, as a world financial center, will now atrophy as well, as finance capital exits Britain in the aftermath of the election and Brexit to points elsewhere: to Frankfurt, Paris, Singapore, and New York.

It is important to understand why Boris won big, why Brexit is now on the fast track once again, and what are the likely…

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