Tuesday, 22 November 2016

Of Frying Pans And Fires

Mrs May, not my prime minister, has spoken to the CBI (Confederation Of British Industry) and told them what she thinks they want to hear, no workers on company boards and replacing investment in technology and research when we leave the EU, not that she knows where the money will come from.

Due to the weak pound exports are up and everyone says the scare was all wrong. Mrs May can tell the CBI about her plans for Brexit, although she hasn't really said that much, but what no one, not the media, not the British people seem to have grasped is just how limited her options are. We are the little guy now, twenty seven other countries hold the cards. What they decide about Brexit will be what Brexit is.

Furthermore the knock on effects of the weaker pound take longer to filter through, the cost of raw materials for example and all the food we import. If you voted for chaos, well done, enjoy it, because it will last a while. According to Mrs May change is in the air, she's damn right about that, no mention of frying pans and fires though.

The new Chancellor Mr Hammond has talked about the eye-watering national debt, for once he's right. His autumn statement will be interesting to hear. Already there are petitions demanding no cuts in welfare. The opposition have said they want to spend and spend big to get us back on track. They don't call it spending, they call it investment and they're such experts.

Any investor knows the basic idea is to buy cheap and sell high, shame Gordon Brown didn't get it when he gave away the nation's gold and spent the proceeds, sorry, invested them for the bright future we're enjoying now. Even now politicians take advantage of the fact that so many people do not understand the difference between deficit and debt, sometimes I wonder if they do. The debt cannot rise for ever and ever, there will be a reckoning.

Have fun while you can, make some money and enjoy Christmas!

No comments:

Post a Comment