Freedom and Prosperity

Thursday, September 16, 2004

UK Hunt Ban Protests

What the Hunt Ban Protests Tell Us About the Social Mood

The protests over the bill to ban fox hunting and the extraordinary intrusion into the House of Commons by protestors (see today's "Daily Telegraph" here) are very interesting to a student of "Socionomics" for what they say about the gathering bear market. Leaving aside protests over the Iraq war (which in themselves were interesting in revealing the extent of the division of opinion), disorder on this scale hasn't been seen since the Poll Tax protests in the last years of the Thatcher era.

"The scale and intensity of the protests - which drew comparisons with the poll tax demonstrations when Margaret Thatcher was in power - surprised and alarmed many MPs."

This sort of disorder and division is typical of a bear market period and these incidents confirm what the stock market has been telling us and also foreshadow things to come.

"It was seen as a sign that many members of a normally law-abiding "middle Britain" could be prepared to conduct a campaign of civil disobedience if the ban goes ahead."

As this comment indicates, it's extraordinary that a segment of British society could be provoked to take this sort of action.

It will be very interesting to observe the UK over coming years and see how much of a backlash develops from the English middle classes. During the Labour administration, this segment of society has borne the brunt of Labour's "reforms" and has also suffered the increasing burden of taxation. All this when it's questionable whether the enormous extra money being thrown at public services is being well spent and crime continues to be a major issue for ordinary people.

Under Labour, the English middle class really has been plundered and exploited. Devolution to Scotland and Wales has left England overtaxed and under-represented (in 1776, a similar situation led to explosive results!). Quite frankly, I think it's a disgrace that Scottish MPs are so over-represented at Westminster and can legislate on English affairs. Of course, this was part of the agreement when the Union went ahead, but now that Scotland has a parliament of its own, that no longer applies, in my opinion.

Disorder and polarised opinion (as evidenced in the US election, as well) are hallmarks of a bear market and things are likely to get much worse as the bear market progresses.