Kingslayer slain

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From The Australian:

Labor is facing the same devastating defeat that it suffered at the last federal election, as Bill Shorten’s standing with voters as the alternative prime minister has tumbled to the lowest level for any ALP leader in more than a decade.

The latest Newspoll, taken ­exclusively for The Australian, ­reveals Labor’s primary vote has fallen to 33 per cent. Support for the opposition has slumped six points since Malcolm Turnbull replaced Tony Abbott 10 weeks ago and is back to the same level as the 2013 poll, which was the ALP’s worst election result in 80 years.

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And from Mark the Ballot, betting markets are now pricing no contest:

A further movement to the Coalition in the betting market for the next election.

House Coalition Odds ($) Labor Odds ($) Coalition Win Probability (%)
2015-11-20 Betfair 1.11 7.27 86.754177
2015-11-20 CrownBet 1.13 6.00 84.151473
2015-11-20 Ladbrokes 1.15 5.00 81.300813
2015-11-20 Luxbet 1.07 7.50 87.514586
2015-11-20 Sportsbet 1.10 6.00 84.507042
2015-11-20 TABtouch 1.11 6.50 85.413929
2015-11-20 William Hill 1.10 7.00 86.419753
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Give the Kinglayer’s back-stabbing of two PMs help bring in the Labor Party’s new leadership ballot rules that make it very difficult to topple a sitting leader, it is only fair that he now slay himself.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.