LIVERPOOL, ENGLAND - SEPTEMBER 28:  Labour party leader Jeremy Corbyn addresses delegates and members during his keynote speech at the ACC on September 28, 2016 in Liverpool, England. On the last day of the annual Labour party conference leader Jeremy Corbyn called for unity and to "rebuild trust"  in preparation for a possible snap election next year.  (Photo by Christopher Furlong/Getty Images)

Jeremy Corbyn Got Royally Trolled By HSBC Over the Sterling Crash

By Kieran Corcoran | 7:17 am, October 7, 2016

Jeremy Corbyn was having great fun last night, reshuffling his shadow cabinet and boasting about having the most diverse team ever.

But can they do their job? Not according to Britain’s biggest bank, HSBC, which slapped down Corbyn this morning and claimed his job is being done… by the free market.

David Bloom, HSBC’s chief currency analyst, said that the exchange rate for pound sterling – which took a dive this morning – “is now the de facto official opposition to the government’s policies”.

That’s unfortunate news for Corbyn, who is paid £137,000 a year to lead the opposition to the government’s policies.

It also has the devastating ring of truth about it – a downturn in the pound is infinitely more likely than Corbyn and his crew to make Theresa May think twice about what her ministers are up to.

It is also deliciously ironic that socialist Corbyn – and his self-professed Marxist shadow chancellor – should find themselves made obsolete by the invisible hand of the market.