Dusk is here

Shadows are falling and I’ve been here all day
It’s too hot to sleep, time is running away
Feel like my soul has turned into steel
I’ve still got the scars that the sun didn’t heal
There’s not even room enough to be anywhere
It’s not dark yet, but it’s getting there

Its so tough to lose a parent and each one is as hard as the previous , I guess everyone knows that but what I was not prepared for was the pain of losing the parents of my wife . Odd really as the in-laws are always painted as being the enemy . Now that’s not to say that I haven’t had my issues but on reflection I was in the wrong and deserved to be pulled up.

There isn’t a word to describe the last days or moments when the family is gathered around the bed as the relative passes from this world to the next . There should be . I experienced this yesterday and the warmth and love in the warm was quite extraordinary . Those days when everyone pulls together to help ease the pain of each other and the assauge the spirit before it goes to a better place

I spent when seemed like hours with my father as the rattle increased and the breathing decreased to be rewarded by him raising a weak arm to pull my head to his chest and whisper to me one last time . This memory still brings tears to my eyes but will stay with me till its my turn .

Now my wife’s father stands at the door surrounded by the love of his children and family . He will soon pass and then the love of a country will help him on his way .

An extraordinary man who has brought extraordinary love to a country.

God Bless

Thoughts on Sergio

In the end Sergio Garcia overcame the wobbles on the 15th to defeat Justin Rose in a thrilling climax to the USA Masters in Augusta last night. It’s hard to think of a more fitting way to commemorate what would have been the great Seve Ballesteros’ 60th birthday and on occasion it did seem that Seve was applying a bit of a heavenly puff as the ball teetered on the edge of holes. A pleasing end to a fantastic weekend of sport that featured a seemingly revitalised Formula 1 Grand Prix race in China ,which augurs well for the forthcoming season, an exciting Grand National from Aintree and thankfully an Arsenal free weekend of football.

Friday’s employment report came out a lower than expected level which raises questions to whether the US is now approaching near full employment. As Irwin Seltzer wrote in The Sunday Times it appears that something in excess of 7m Americans are forever trapped as either semi employed or unemployable. 5.6m of this number involuntarily working part time and 1.6m  aren’t even bothering to look for work .Tragically low levels of education is damaging America and it seems that “ We can’t find enough skilled workers “ is the oft heard refrain. With 45% of American work activities at risk of automation we can only hope that the wealth and leisure that this will create will trickle down to those at the lowest levels. I fear that this is a forlorn hope.

Earlier in the week both the Federal Reserve and the ECB started to discuss tapering of QE and in the view of many market participants not before time. At the moment it does feel that the markets are behaving like crack addicts and need the fix of cheap money. The sooner the markets are weaned off the better and one can only trust that Mark Carney at the Bank of England will shortly follow suit. However as of this morning Carney has another headache curtesy of BBC TV’s Panorama programme having found evidence of the Bank of England asking Barclays Bank to “lowball” LIBOR in 2008. At the time that they are accused of doing this the interbank deposit markets were paralysed with fear and the Bank appears to have been trying to lower the temperature of the markets as well as the price of 3 month money. They have done nothing illegal and this really is a non-story. With increasing question marks over the independence of the BBC this does look like another anti-establishment expression of bias.

Equity markets were seemingly unmoved by the waving of a large stick by Donald Trump in the direction of Assad and Putin which appears as a success on several levels, firstly the cynical may see Trump deflecting from his domestic problems secondly a lesson was being sent to North Korea as surely it was no coincidence that this action was taken whilst the Chinese premier was in town and thirdly anyone who thought that Trump was Putin’s puppet most have been given pause for thought. Will Assad, or any other despot, cross a red line drawn by America with such impunity again?

In domestic politics the British labour party seems intent on seeing how much ridicule it can attract with the latest contributor to this horror show being a “dancing and singing “extravaganza from Ed Milliband . The dismaying thing is really that Ed Milliband was seen by many as one of the more electable faces of the party, despite his effort at the 2015 election, and is now surely a laughing stock. A tragedy on many levels but whatever you political hue as serious opposition party id a prerequisite for any democracy.

Tonight Janet Yellen will speak at the University Of Michigan Ford School Of Public Policy and will take questions from the audience and Twitter. We may hear some more hints but with the start of a week of holidays across much of Europe it is hard to see many surprises or large swings in the markets unless Donald Trump feels the need to wave the big stick around again.

West Bromwich and Scotland .Wheres the link

what a totally disastrous show by Arsenal over the weekend , yet again showing how if one is not accountable for your actions rubbish ensues . Neither the players or the manager, who get paid , are held responsible only the poor fans who pay actually suffer the burden of defeat .

Too many time have we seen this truism repeated in the markets from bankers not being held responsible for their trades where the traders can execute Rio trades through to collusion and price fixing . Until management is held responsible this behaviour will inevitably carry on.

Politicians are exactly the same they can carry on promising all sorts of myriad dreams with only the scantiest of justification . Take Scotland for example , and one could pick on virtually all politicians going back through the ages . How does Nicola Sturgeon think that Scotland will share a currency ? Nice idea but totally impractical . Perhaps we could have Scottish pounds back by the Scottish banks which the English Government have bailed out …oops that could be fun ? Perhaps backed by oil revenues …. oops they’ve gone . Oh well there is always the European Union that she is going to join, except one has to adopt the Euro which of course with a cold and rain soaked Greece joining will only strengthen.

Sturgeon can lie and lie and in the end the electorate will decide what to do at which point she can walk away having either broken the Union and her Country or broken the SNP . Tough call .

random walk

It is actually too rainy to walk anywhere be it random or otherwise so let me just mention that as its my Birthday I am going to sit and eat a lovely Maltloaf I have made and say thanks to the eating tree for the recipe !

Doris

Well I could say that the is the strongest blow iv had from a Doris since I was a drunken reprobate of a floor broker but I better not ! It is blowing a serious hooley outside as I listen to Animals by Pink Floyd – why am I listening to that …well the Pig on the cover went walkabout after the cover shot was taken and caused all types of chaos in the sky.

Talking of pigs flying ….how much longer can these markets defy logic and stay at the level they are . It does look like they are fixated purely on the strength of Amazon, Apple and the Banks . Hey Ho we will see !