Dud Starmer is in the bunker with Baldwin and Hermer -- two of the worst people in SW1 -- issuing Operation Nero orders while officials clutch their heads and try to limit carnage.
It's like Trolley in there at the end with Huawei Hari.
Labour MPs must remove him in weeks not months, new PM by July latest
Europe is preparing its public for something it has avoided for years.
A real trade war with China.
Not complaints. Not carefully worded statements. An honest-to-goodness trade war.
Brussels has already held closed-door meetings. The "Made in Europe" framework has launched. Officials are publicly saying the relationship is no longer sustainable. Privately they are accepting the obvious: if Europe moves, China retaliates.
This is not about protectionism. It is about survival.
Europe's industries are under pressure. The old assumption that cheap Chinese goods were always a benefit is breaking down.
China is not exporting because it is strong. China is exporting because it is broken.
Households not spending. Property still falling. Credit collapsing. Investment crashing.
China's factories produce more than its economy can absorb. So the excess goes outward. The world becomes the release valve.
China faces an impossible choice. Cut production and crush the domestic economy further. Or keep exporting and push the pain onto everyone else.
There is no third option.
Europe is the first major economy to say it will not keep absorbing it.
Trade wars are about to go global.
PIMCO WARNS DEFAULT WAVE IS COMING
PIMCO warns that a credit-loss cycle is underway, with defaults expected to rise sharply among lower-quality borrowers, including leveraged and private credit companies. The firm says AI-driven disruption could hurt heavily indebted businesses, while current credit markets appear complacent about risks. PIMCO favors intermediate-term government bonds, citing recession risks, persistent uncertainty, and the potential for future central-bank rate cuts.
Very important point: SoftBank was pledging *all* of its OpenAI stock (worth $60bn+ on paper) to get a $6 billion margin loan. Banks turned it down due to concerns about the value of OpenAI stock. Banks clearly do not think OpenAI is worth $852 billion.
https://t.co/B9ilbd043M
The situation inside the MoD is so bad that Britain is second bottom in a Nato league table that ranks member states based on the extent to which they are meeting their rearmament promises.
The UK is currently 31 out of 32 countries on a list — which may be published by the end of the month — detailing how each country is progressing in hitting the alliance’s capability requirements. The only country below the UK is understood to be Iceland, which does not have a military.
https://t.co/9ElwHkYPL6
@RachelD1892 Highlights the fact that both main parties are responsible for porous borders and insane immigration failures. So she led on defence and achieved nothing at PMQs.