Cable has plunged almost 2 full handles from the post-May-'New Deal' hope of yesterday afternoon as it's increasingly clear her latest and last gambit is dead on arrival...

Bloomberg reports that Theresa May is facing pressure to abandon her Brexit deal and quit as British prime minister within days, according to people familiar with the matter. Several senior government officials said they were shocked that the premier’s new offer intended to win votes in Parliament for her European Union divorce agreement had been so badly received so quickly.

Which just goes to show how disconnected from reality they are. FX traders, however, were not surprised...

Dragging sterling to its weakest level of 2019...

Early year hopes of avoiding a hard Brexit are dashed by the combination of May's failure and the rising euroskeptic sentiment across Britain (and Europe).

As Mike Shedlock notes, Nigel Farage's Brexit Party is on a stunning roll. That's what happens when you take a firm position the public favors.

The final YouGov poll on the European Parliament elections for the UK is in.

Some will be shocked. I am not.

Beyond Embarrassment

Theresa May truly embarrassed herself today.

Her Meaningful Vote 4 Speech Flopped Splendidly.

She tried to reach out to everyone at the same, offending everyone. May has changed her tune so many times, who the hell even knows what she wants?

The best summation I can come up with is "Any deal is better than no deal".

Labour

Please be serious.

Jeremy Corbyn is just like Theresa May. He wants to "honor" Brexit, by not doing it.

Two Peas in a Pod

Corbyn is simultaneously for and against another referendum, just like Theresa May!

Despite how they pretend, they are in bed with each other.

Another Poll Needed

YouGov needs another poll: Who is more pathetic? Theresa May or Jeremy Corbyn?

From where I sit, it's a close call.

* * *

Finally, as Human Events reports, Farage has pledged to field a “full 650 candidates” when Britain has its next general election. The talk behind the scenes at Brexit Party gatherings, is of what a government might look like if Farage and his band of brothers (and sisters) held the balance of power after an election.

Long-term euroskeptic and former President of the Czech Republic, Vaclav Klaus, sums things up well:

"As I look at it from Prague, the British main political parties totally failed, and betrayed and abandoned the British citizens, their own voters. It had, however, one positive side effect: by behaving in this way, they probably and unwillingly created the Brexit Party... ...Dear Brexit friends, you should in the forthcoming elections give the whole rest of Europe a good example. Many Europeans need it, and many are waiting for it. Don’t disappoint them.”

Read more here...