I have been taking it for granted she would find a way to agree some kind of arrangement with “remain” parties and MPs, with Labour and the SNP, that would see Corbyn enter 10 Downing Street.
His honesty rather amazed me.
Also, that is an outcome that would be a disaster for Johnson and Corbyn, who conspired to hold the election.
Davey sees a silver lining for his party from it acquiring a significant number of new seats and - he believes - increased prospects for a Brexit referendum.
He thinks Johnson would at the last see a referendum on his deal as preferable to another snap election, or just months more of muddling through and uncertainty.
I am not so sure.
But as I travel to Birmingham to hear , what strikes me as most important in Davey’s prognostication is that the Lib Dems really are sincere when they say they will never underwrite Corbyn becoming PM.