These are depressing times in the world, particularly in Britain, where things have been turned on their head since the Brexit vote last week. No one knows how bad things are going to get with the economy, but I was watching the BBC this morning and listened to a “legendary” US investor saying that if all goes as it looks like it is going, we will end up with the Pound being worth less than the Dollar. Forget parity. He says he is buying Dollars, Chinese shares and agricultural stocks because that is unlikely to lose money. People still have to eat…
We can hope that this does not happen and I rather tired of politician saying that the people have spoken and must be obeyed. I am sure that behind closed doors they are saying that the people were wrong and, in this case, democracy is not the best system. What is clear to me is that parliament is not in tune with the people and I don’t see how Boris Johnson can form a government when only one third of the Conservative MPs are in favour of Brexit, so it would be best have a moderate Conservative leader and go straight to the polls with Brexit as the main issue. The country has shown its unhappiness and that needs to be addressed, but Brexit is obviously not the answer. I suspect that the result would be very different from the referendum because a lot of people have woken up to some nasty realities in recent days. It is a good move politically as well because Labour is in such a mess.
It is clear Europe is not going to do much to help, so the logical way forward is to stay in Europe and try to reform things there as well, so as to get a better EU. Why am I going on about this? Because it is important in every walk of life, including F1, which is a sport fuelled by money. The disasters forecast may not happen, but then again they might and so it would be a good moment for the sport to get serious about a budget cap, because without new investment in the sport we will lose teams. We can only hope that there are enough eccentric billionaires out there to wade in, but I fear we will have fewer billionaires around in the future. Knowing F1, they will go on as they are until suddenly teams start disappearing and then they will shut the gate after the horses have bolted.
Anyway, there will be plenty of time to think through these things today and tomorrow, as I am driving to Austria. Enjoying Europe. I suppose you could say it’s a kind of mini-break to make up for the fact that I work every Sunday, even when there are no races. So I’m off to Strasbourg and then across the Rhine and will spend the night in the Schwäbische Alb region, a pretty spot before one drops down to the Danube, near Ulm. Tomorrow I will follow on from there to Spielberg.