Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Morning Bros...
88. Maybe a double edged sword for many. I is also very skeptical of US intentions here... As I sees it boots on ground Ukraine lacks.
In the Uk we has almost 23,000 Regular Reservists with recall liability under Section 22 of the Reserve Forces Act
Plus a further 55,000 personnel under Section 68 of the RFA 1996.
The longer this play goes on the more involved everyone will get...
We also has almost no defence against missile attacks. In 1953 it was assessed that a first strike hydrogen bomb attack on our precious island. I cannot recall the total yield would see off 12 million in the blink of the eye leaving those that survived to a potentially worse fate.... We need a global statesman to sort this out...
Evening Bros.
The question is .. Is we heading for the Minsky moment. Debt is stacking up like we never see before. POG still high. The oil who knows but the US strategic petroleum reserve not been replenished due to cost. Was 727 million barrel authorized storage capacity on December 27, 2009.. Across the various cavers" On 2nd April 2024 stand at 361.9 MMB All eyes on the Middle East.
For sure one of most troubling things today is the shutting down of Mr Farage and Mrs Braverman.
They not far right, just right but they forget the one thing. As Orwell he says
" "In a time of deceit telling the truth is a revolutionary act."
Usual suspects been bickering on here again today. Remind me of the Pink flloyd wish you were here line. It go.
"We're just two lost souls
Swimming in a fish bowl
Year after year
Running over the same old ground
What have we found?
The same old fears
Wish you were here"...
Skier1
You are a wise man.
For sure that is the case... Yet the drawbridge to the Uk it still down with a big red carpet on it. Today someone saying we need the iron dome. What use that now?. Where also the shelters?
Uk very unprepared as we has been saying for a long time. No good defending everyone else. Uk first priority or is I missing something. You know what I am saying..
I is adding straight of Hormuz to the problem list.
Morning Bros.
If the Uk ever to cross the stormy economic seas it need more people rowing.
Today the figures..
Long-term sickness hits record high
The number of people out of work due to long-term sickness has hit a record high, official figures show.
There were 9.4m people economically inactive in the three months to February, according to the Office for National Statistics, which is the highest since 2012.
Of those, 2.83m said long-term sickness is the reason they are out of work.
Unemployment it also rising to 4.2% up from 3.9%..
Not enough seeing work as worthwhile even with good money...
System need a radical overhaul. Benefit it need to be reduced by 50% every 3 years.
Taverham. Respect but this play will be about the yields on the Govt bonds. Interest payments unsustainable. Rate will fall but may not be for the right reason. In the meanwhile overleveraged businesses and sectors that have to absorb ever rising costs it can't pass on will go to the wall.
CRE causing big headaches for banks.l
Morning Bros.
Back in the Lloyds house after two week vacation..
Economy still going to hell in the hand cart.... Only has to look at the price of Gold.
Skier1. Respect
Shahed drones. I would not underestimate Iran overall capabilities. Took 350 coalition aircraft and Iron dome to eliminate the threat but they has a lot more up their sleeve. Don't forget the allies Achilles heel. Straight of Hormuz almost 25% of world oil it go through there, big problem and the inflation genie it never go back in the bottle. Not that the US it wanting that regardless of what they is saying. Also this play in the middle East is just what Putin wanting. USA currently fighting ? 9 wars mostly as a proxy. Still the Uncle Sam will not like the bill..
See what the market it make of this today.
Labour Govt still inbound.
Evening Bros
"Private equity binge threatens to trigger financial crisis, warns Bank of England"
https://www.msn.com/en-gb/money/other/private-equity-binge-threatens-to-trigger-financial-crisis-warns-bank-of-england/ar-BB1kDvZK
Looking like some one in the BoE has woken up. My friend who look at this he says about this and I has posted a few times.
CRE looking like a big headache for at least 10 small US banks.
Uk not immune.. There is the plenty of problems in the road ahead.. You know what I am saying?
Bros
"Foreign state influence over British newspapers will be outlawed after the House of Lords voted to effectively block the UAE bid for The Telegraph"
https://www.telegraph.co.uk/politics/2024/03/26/lords-approve-law-block-uae-telegraph-takeover/
Looking like the April 2nd deadline a bit academic.
https://www.msn.com/en-gb/money/other/uk-gives-telegraph-deal-parties-until-april-2-before-deciding-on-lengthy-probe/ar-BB1ktS6v
So this it bring me back to my question. When will the next auction be taking place
Afternoon bros.
Any idea when the new auction for the Telegraph will be happening...?
Barclay bros empire looking like is in the freefall. HSBC giving them the latest kicking.
War in Europe creeping ever closer. Only one talking sense at the moment in my eyes is Colonel Douglas Macgregor. Everyone else is marching us towards the guns...
LTI
For sure but we need to see where this goes with RedBird IMI..
In my mind so much ironic and beating down on the wrong guys.
So newspaper No way now it can be under foreign control, but what about... foreign ownership of UK water, gas, electricity, telecoms, science and the technology including the recent sale of the Ultra Electronics , the nuclear power plant and submarine company waved through by Mr Kwazi kwarteng.
Same thing it happen with car finance.. Caveat emptor.. But if the Govt it care about the motorist it would be bringing companies like Ford to book over the ecoboost engine wet belt failures. JRL the same with its security and last but not least is the VW etc emission scandal. you know what I am saying?
Afternnon Bros.
Client not well so nice and early finish today.
Couple of the headlines catch my eye..
"Foreign state ownership of UK newspapers to be banned "...
https://www.telegraph.co.uk/politics/2024/03/13/government-ban-foreign-state-ownership-newspapers/
"Rothesay acquires £6 billion Scottish Widows bulk annuity portfolio from Lloyds Banking Group".
https://www.lloydsbankinggroup.com/media/press-releases/2024/lloyds-banking-group-2024/rothesay-acquires-6-billion-scottish-widows-bulk-annuity-portfolio.html
"Bank transfers could take four days under new fraud laws"..
https://www.msn.com/en-us/money/companies/bank-transfers-could-take-four-days-under-new-fraud-laws/ar-BB1jJF1y
Is worth a try in my book and good for the banks, but may turn out a bit like the curate egg for the customer and retailers...
Johny
Bros. Respect... The future is uncertain, but the BRICS maybe looking at gold standard style set up. Move away from the dollar gathering pace.
Gold is the only true currency. Everything else is the credit.
In all world history only enough to fill the Olympic pool has been mined. At todays prices only economic to mine for another fewer decades. You know what I am saying?
Mick-b
Respect. You are a wise man that is for sure.
I also find it very odd that bros making the announcement about the British ISA without it being as the Mr Johnson would say. Oven ready.
Another jam tomorrow budget from the as some calling him the fiscal drag queen Chancellor.
LTI
"I think most people on here are mostly interested in the UK's debt level as measured against GDP, which is lower currently than the US"...
For sure but the USA is the beating heart of the Western economic system. At the moment seems to be in AF and no one can find the Digoxin.
Bidenomics not working with debt racking up at the rate of an extra $1tn every 100 days. How long this go on?
No wonder we sees the gold rising. China big buyer..
Car finance an issue that is for sure but maybe CRE is where the real problems start.
Both Yellen and Powell seeming very uncertain when they last spoke ...
Skier1
Respect
For sure that can be the case. unless you make the weapons to sell
You will be familiar with William Armstrong, the 1st Baron Armstrong.. Did very nice from the war as we sees with properties such as the one called Craigside.
LTI
Who says the Uk benefitted?
"America's response to World War II was the most extraordinary mobilization of an idle economy in the history of the world. During the war 17 million new civilian jobs were created, industrial productivity increased by 96 percent, and corporate profits after taxes doubled"..
https://prospect.org/health/way-won-america-s-economic-breakthrough-world-war-ii/