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Brad DeLong's Grasping Reality 2019-06-13 21:23:25

Summary:
Uncertainty—fear that Brexit will be badly handled—is "killing investment and market sentiment toward the U.K", says Marcus Ashworth. Therefore, says Marcus Ashworth, let's choose a Prime inister—Boris Johnson—guaranteed to handle Brexit as badly as possible. And Ashworth is one of the smartest, most reasonable, and most coherent of the Brexziteers. And he's an incoherent, unreasonable, and rather dim nutter: Marcus Ashworth: Boris Johnson Is Underpriced By the Financial Markets: "Sterling could well get a lift if the former Mayor of London becomes prime minister.... The fact that several of the candidates to replace her are seemingly happy to let Britain crash out of the European Union without an agreement (with bookies’ favorite Boris Johnson foremost among them) has spooked

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Uncertainty—fear that Brexit will be badly handled—is "killing investment and market sentiment toward the U.K", says Marcus Ashworth. Therefore, says Marcus Ashworth, let's choose a Prime inister—Boris Johnson—guaranteed to handle Brexit as badly as possible. And Ashworth is one of the smartest, most reasonable, and most coherent of the Brexziteers. And he's an incoherent, unreasonable, and rather dim nutter:

Marcus Ashworth: Boris Johnson Is Underpriced By the Financial Markets: "Sterling could well get a lift if the former Mayor of London becomes prime minister.... The fact that several of the candidates to replace her are seemingly happy to let Britain crash out of the European Union without an agreement (with bookies’ favorite Boris Johnson foremost among them) has spooked foreign exchange traders. But plenty of people would welcome some kind of clarity.... It’s the uncertainty that’s killing investment and market sentiment toward the U.K. The flipside of this is the sense that people just want to get Brexit done...

Bradford DeLong
J. Bradford DeLong is Professor of Economics at the University of California at Berkeley and a research associate at the National Bureau of Economic Research. He was Deputy Assistant US Treasury Secretary during the Clinton Administration, where he was heavily involved in budget and trade negotiations. His role in designing the bailout of Mexico during the 1994 peso crisis placed him at the forefront of Latin America’s transformation into a region of open economies, and cemented his stature as a leading voice in economic-policy debates.

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