Far Left Labour Party Sees Huge Loss in Australia

Far Left Labour Party Sees Huge Loss in Australia

FLASH: The conservatives aka the Liberal party in Australia pulled off a stunning upset in the national elections Saturday.

The leader of Australia’s opposition Labor Party, Bill Shorten, has accepted defeat in a shock result for the country’s federal elections.

The ruling centre-right coalition led by Prime Minister Scott Morrison looks set to return to power in defiance of polling predictions.

However, it is unclear yet whether it will be able to form a majority government.

Exit polls had suggested a narrow victory for the Labor Party for the 1st time in 6 years.

The final result of the election may not be known for some hours, but with almost 70% of votes counted the Liberal coalition has won or is ahead in 74 seats in its quest for a 76-seat majority, with Labor on just 65 seats.

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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