The Month That Was……July 2024

I like politics. I like numbers. There’s only one thing for it then……a political numbers special this month.

You’re very welcome.

After 43 days and 8 debates……Labour it is.

There was no rioting in the streets. No burning of cars. No damage to public buildings. Not even a spiteful speech here or there (Keir and Rishi actually paid each other compliments!). The most controversial thing that happened was a removal truck arriving at Number 10 a few minutes early.

In fact, it was a truly dignified transfer of power……especially compared with the treasonous chaos in the USA in January 2020 after Donald Trump lost the election there.

For the record……

14 years that included……5 Prime Ministers, 7 Chancellors, 8 Foreign Secretaries, 13 Culture Secretaries, 8 Home Secretaries and 16 Housing Ministers. If the Government were a Head Teacher, the school would be in Special Measures.

We’ve endured David Cameron’s self-loving smugness, Thereas May’s chaos, BoJo’s lies (and lies about his lies), the Liz Truss experiment and Rishi’s vanilla approach to everything.

It marks the end of 20 months of Rishi’s time in office, as Keir becomes the UK’s 58^th Prime Minister.

But some significant legacies have been left. We must continue to endure the fallout from Brexit that is costing us £100 billion a year in loss trade, we have the worst trade deficit since records began and our national debt is at £3 trillion. Now that’s a legacy.

Whist this was a spectacular victory for Labour given they came from the doldrums (their result in 2019 was their worst since 1935), the story of this election is one of an electorate showing a ruthless determination to eject the Conservatives. It was a loveless Labour landslide win.

Conservatives suffered their worst electoral defeat in history and were left with just 121 MPs. The Tory rhetoric has proved to be so divisive for the country that they also managed to divide their own party. Quite the achievement.

Labour took 412 seats, giving a majority of 174.

Liberal Democrats (remember them!) won their highest tally since 1923, taking 72 seats.

Nigel Farage became the MP for Clacton. He will finally go to Westminster after 8 attempts, 30 years after his first attempt. Thanks for that Clacton.

I found the most amusing aspect of the election was watching Tory MPs who usually talk complete (add word to suit) lose their seat. I assumed that they could finally relax, drop the party line, be themselves and finally open up……but yet they continued to talk absolute (add word to suit). Priceless. 

The most bizarre element of the election was the speed with which Keir jetted off to America. Presumably after permission from the King to form a Government we must now ask permission from the President. 

Perhaps the most worrying part of the election is the election itself.

Labour received 34% of the votes yet won 64% of the seats. Consider this……Labour’s national vote share was just 2% higher than it was in 2019 and yet it has gained 211 seats.

I tried explaining the logic of this to an American recently. I failed. I am now failing to convince myself also.

In a weak moment, I almost felt sorry for Nigel Farage……despite winning 14% of the national vote, Reform gained 4 seats, the equivalent to 1% per cent of the seat share. .

Perhaps it’s time to reconsider how voting and MP electing works in reality as there does seem to be a need for consideration given that 66% of voters did not vote Labour……yet they won handsomely.

Regardless, Labour’s share of the vote is the lowest won by a post-war single-party Government, suggesting a breadth, not a depth to its support.

British politics has changed profoundly. The challenges for those now leading it have not.

Interesting times.

Elsewhere, my own favourite number of the month……2……the number of end of School year awards the little lady won. 

Trump of the Month

So many worthy candidates this month……rich pickings in fact.

Rishi was always a strong consideration given the dreadful showing at the genny lec. The failure was spectacular yet he was probably the wrong person at the wrong time to inherit the Bojo-Truss mess that was difficult to clean up.

I wanted my Michael Portillo moment and I was not disappointed with two absolute beauties……

Firstly, Jacob Rees-Mogg lost to Dan Norris who celebrated……“We’ve got Mogg-xit done.” Joyful.

And then Lizzie went as well! Already the shortest-serving Prime Minister in history, Liz Truss also become the first former leader since 1935 to lose their seat. Double joy.

She then had the audacity to appear on US TV to proclaim that Kamala Harris isn’t qualified to lead a country. Let’s be fair, if anyone knows about not being qualified to lead a country it's Lizzie.

Not to be outdone, Nigel Farage described Kamala Harris as a “black African woman.” Just for the record and to avoid any confusion here Nige, Kamala Harris is not African……her parents are Indian and Jamaican. I imagine Kamala Harris would describe Nigel Farage as: “Exactly who is he?”

In any other month Joe Biden would have been a shoe-in. During a TV debate in front of an audience of 50 million he garbled answers and at one point he ground to a halt completely. Like a robot running out of batteries. At a later press conference, Joe B introduced Volodymyr Zelensky as “President Putin” and he referred to Kamala Harris as “Vice President Trump.” Utter madness.

And then there is The Trump. Where do we start with this?

In May he was convicted of 34 counts of falsifying business records. But a ruling this month grants former Presidents immunity from prosecution for “official actions” taken while in office. The official action The Trump took when in office was to sign off his business accounts whilst he was in “office” that included the hush money paid to an ‘adult’ actress and then falsifying the payment through his business.

Or to put that another way……he definitely didn’t do it but, if he did, he was President at the time and that makes it OK. He now wants immunity for things that he definitely didn’t do. Still with me?  

The craziness continued by living to tell the tale of a truly despicable assassination attempt……by a member of his own political party. Two days later he was back on stage (with Hulk Hogan) to announce JD Vance as his running mate for the election campaign……somebody that previously called him an “idiot” and “America’s Hitler.”

And then on the back of the assassination attempt and increase in coverage, the share price of The Trump’s social media company rose by a third, giving the former President a paper profit of about $1.2 billion. Nice work if you can get it.

And then the cherry on the cake……Joe B stood down from the Presidential election race as he simply couldn’t compete with the levels of craziness, limelight and increased (head scratching) support offered to The Trump. With defeat staring Jo B in the face, he stood down. Nobody wants a loss to The Trump on their CV.  

He craves madness……he makes little sense……he is a complete lunatic……but he is consistent with the craziness. Month after month. The Trump of the Month for July 2024 could only go to Donald.

Utter madness.

Trump Lunacy Rating: 10 / 10

 

And Finally……

““Change is the law of life, and those who look only to the past and present are certain to miss the future.”

John F. Kennedy

The Month That Was……June 2024

I’ve consciously done all I can to not get consumed by the run up to July 4^th (or “Genny Lec” if you’re under the age of 20). My daily analysis of the news over breakfast has been replaced by various distraction activities so that I don’t get consumed by reading about the demoralising state of British politics. 

Probably the highlight of my strategy was people watching over a hotel buffet breakfast recently. It’s fascinating stuff……a David Attenborough documentary in waiting. People’s food gathering techniques and tactics are simply captivating. 

There’s the ‘collector’ who likes a little bit of everything all on one plate……sausage, watermelon, curry, cheese, noodles……get it all on there in one buffet visit.

Whereas ‘the monk’ is so in control of their temptations that they manage to have one piece of brown toast and an apple. In and done in under 7 minutes.

Conversely, the ‘long hauler’ arrives at 7am and they’ll leave the table at 11am (breakfast ends at 10am). The staff have to set up around them for lunch service.

The ‘magpie’ likes mushrooms. So they think they should rightly have ALL the fried mushrooms on offer and actually take the serving dish. They eat two and leave the rest.

The ‘dawdler’ never sits down. They slowly circle the spread with a little white plate in one hand whilst scratching the back of their head with the other. Completely paralysed by choice.

The ‘three courser’ starts with good intentions (yoghurt and fruit), then treats themselves a little bit (a few mini pastries), then lets go of all control (full English with 18 hashbrowns). They normally share a table with the ‘challenger’ who assumes that an ‘all you can eat’ buffet is a challenge and attempt to eat as much as humanly possible without actually exploding.

The ‘return tripper’ forgets the butter, then the jam, sugar, teaspoon, milk, fruit, extra napkin……just about everything. They spend the majority of their time apologising for getting in everyone’s way as they try to grab what they want.

They can only dream of being the ‘one visit victor’, who only visits the buffet once and comes back with 5 plates of food and three drinks.

The ‘secret sandwich maker’ wants sandwiches for lunch. So here they are, constructing enough ham and cheese baguettes under the table to feed a bus full of tourists.

As you can see, I have filled the void caused by my self-imposed breakfast media blackout with constructive observations. 

As for me? I am definitely the ‘watching weirdo’ who collects enough from the buffet to get them through their busy day, then sits down in a corner and watches all the other guests to see what wacky food combinations they choose.

Politics avoided. Void filled. Constructive observations. Honest self-analysis of being a weirdo. Four big boxes ticked.

The Numbers

Aside from the political build up, the big news of the month was inflation hitting the Bank of England's target for the first time in almost 3 years. Inflation hit 2% this month, down from 2.3%.

Within minutes of the inflation announcement, two predictable responses followed.

Firstly, Rishi jumped on the bandwagon with the “our plan is working” rubbish, despite having no influence on inflation (or he would never have let it rise to 11.1% 2 years ago!).

Secondly, the pressure on the Bank of England to reduce interest rates exploded.

To understand the Bank of England’s position and reluctance to reduce the interest rate requires a little scratching below the surface.  

- Food prices overall are still 25% higher than at the beginning of 2022.

- Petrol prices increased during the month, rising by 0.7p per litre.

- Services sector costs remain high and have increased by 5.7% in the last 12 months.

- Official figures on renting showed average rents paid to private landlords in the UK rose by 8.7%.

Clearly there is more to inflation than the headline figure and it was no surprise that the Bank of England held the interest rate at 5.25% (a 16 year high) for the 7^th meeting in a row.

But the continued high level of interest causes many a problem.

Mortgage arrears are at their highest for more than 7 years as many struggle at the higher interest rate level. The total value of home loan balances with arrears climbed by 44.5% (year on year) to £21.3 billion. The overall proportion of mortgage balances that are behind on payments is 1.28% and the highest level since 2016.

And if that isn’t alarming enough, there are likely to be more problems in the post……3 million UK households who are currently paying relatively low fixed mortgage rates will see monthly repayments jump by around 28% on average within 2 years when their current fixed rate ends.

Although I have been trying to avoid as much of the political nonsense as possible (or at least not be consumed by it first thing on a morning), a few interesting snippets have stood out.

- 58% of voters are politically homeless with no political party they like. Just 22% like what’s on offer. This is a resounding “none of the above” rejection of the Westminster Inn’s political menu.

- UK’s debt burden has now reached almost 100% of GDP, a 30 year high (the highest level since equivalent records began in 1993).

So it actually doesn’t matter who reaches Number 10 as the debt burden handcuffs underscore the significant challenges for the next Government. Both the Conservatives and Labour have promised to reduce debt and they will need to find £30 billion in savings or tax rises just to stabilise public debt over the next decade. If nothing else the debt level should stop another Liz Truss style off-piste fiasco! 

My favourite number of the month……321……as in 3^rd place in the 800 metres, 2^nd in the 200 metres and 1^st in the 4 x 100 metre relay.  

 Trump of the Month

It has been difficult to find worthy candidates this month that have got close to the lunatic traits of the winner. The Trump of the Month award for June 2024 could only be……Rishi Sunak

It has been a disastrous month for Rishi……perhaps his worst since he stepped into Number 10……and that’s quite a statement!

It started with him declaring that “I want to restore pride and confidence to this country,” yet he has been the man who has already been in charge of restoring pride and confidence for the past two years!

Then just a few months after claiming he couldn’t access his WhatsApp messages for the Covid Inquiry, he asked voters to “trust me to deal with cybersecurity threats to the country.” The same week NHS medical records were hacked and the Conservative Party had to refer itself to the watchdog after publishing member email addresses.

Then Rishi visited a McVities warehouse in a hi-vis jacket to rock his ‘man of the people’ look. He took two questions from staff who were later found to be Conservative Councillors posing as warehouse workers who were asked to appear in disguise.

Rishi then went full-on mental when announcing that National Service was being bought back. Who had “bringing back National Service” on their General Election bingo card? Nobody! Let’s face it, this isn’t going to work. Within hours of the policy being announced, it was clear there were no actual detailed plans for how he could make it work. Probably because the whole “fining the parents” thing would mean rewriting every understanding of what it is to be an adult.

He then went on a TV debate and claimed “back me for lower interest rates.” Firstly, he has absolutely no control over interest rates. Secondly, if he did have control, why has he allowed interest rates to be at a 16 year high since he became PM?

In the same debate, Rishi announced that “independent Treasury officials have costed Labour's policies and they amount to a £2,000 tax rise for every working family.” The next morning the Treasury Permanent Secretary responded with “civil servants were not involved in the production or presentation of the Conservative Party’s figures.” So that’s a lie then.

Rishi then left a D-Day anniversary service in France early (leaving David Cameron to stand with world leaders for photos) to return to the UK to conduct a TV interview for his General Election campaign. Read the room Rishi. Read the room.

The most enlightening quote on Rishi’s reasons for leaving early was that it was a “French thing.” I’m pretty sure it was the Second World War and that was infamously a global event!

Later that day he talked of his own sacrifices growing up…..he didn’t have Sky TV. Wow. Rishi is clearly so good at relating to ordinary people who are struggling to pay their bills that he went without Sky TV while attending a £51,000 per year public school. On the day of the D-Day anniversary, Rishi clearly felt it was the ultimate sacrifice.

When quizzed by Sky TV on all things politics, the was also asked to “tell us something interesting about yourself?”. His response……“I love Haribo and a Twix.” That was it. He eats sweet things. Stop the press.

Behaviour like this can only mean one thing……it’s a last throw of the dice by doing his best BoJo impression. You can understand the logic behind it given that BoJo was the last elected Prime Minister and we all fell blindly for it.

Rishi has left it a little late to father numerous children out of wedlock……but no doubt the Tories can probably rustle up half a dozen kids before the polls open.

The Trump of the Month award for June 2024 could only go to……Rishi.

Utter madness.

Trump Lunacy Rating: 10 / 10

And Finally……

“I may be crazy, but it keeps me from going insane.”

Waylon Jennings

The Month That Was……May 2024

July 4^th it is then.

Rishi stood outside Downing Street in the pouring rain to announce the General Election. He looked dead-eyed and defeated. He couldn’t even organise an umbrella in a downpour. I genuinely felt more than a little sorry for him. Clearly, I really let myself down. 

 

All over Westminster there are hundreds of people who are frothing at the mouth with anticipation of the forthcoming duel. Wonks. Journalists. Lobbyists. MPs (mainly non-Tory ones!). They love the fight, the game, the speculating. You sense they are actually aroused.

They wait in deep undergrowth for someone on the front line to say something which contradicts the party line……or for a backbencher to appear on a phone-in and not know the price of a pint of milk. Then that’s it……they pounce with delirious glee.

I usually care about a General Election. It’s a big deal. And I certainly cared about the Brexit referendum……and still do! But some of the magic is gone this time around. The simple truth is that you can vote for a party that’s useless by accident.

The last General Election was held in December 2019 when BoJo was Prime Minister. Nobody voted for the shambles that we’ve endured since then. Or for Liz Truss. Or for Rishi.

It’s also unlikely that it will change your life in any way, shape or form.

Whoever wins will be prevented from making the changes they want by the world’s financial markets……and (hopefully) common sense. Just ask Liz Truss what happens when you lack any kind of sense.

In theory whoever wins the general election has the power to make changes but only in the same way that they have the power to drop a nuclear bomb on Luxemburg. It’s not actually going to happen.

The fact is that we will be treated to a bombardment of promises and polls in the coming weeks……all of which will be a good spectator sport. But it doesn’t really matter who wins because the pot holes will continue to make you swear, the trains will continue to be where hope goes to die, the NHS waiting lists will continue to be horrific, small boats will continue to arrive, HMRC will still take over an hour to answer a call, energy bills will continue to land on the doormat and we’ll all moan about paying taxes.

Instead, the more pressing concern is the increasing wave of people calling the election “Genny Lec”. Stop it. It’s just wrong. Just how much time are you actually saving by shortening it? Stop it now.

 

The Numbers

Hidden in the news this month was the announcement that we are officially out of recession.

GDP grew by 0.6% after two quarters of declines……the fastest rise for 2 years.

- Services grew by 0.7%

- Production grew 0.8%

- Construction fell 0.9%

Despite this, the UK economy will be worst performing in G7 next year, according to the economic think tank, OECD. Their GDP growth forecasts for 2024 and 2025 do not make pretty reading.

The main headlines were dedicated to inflation news, which fell sharply to the lowest level in nearly 3 years to 2.3% (down from 3.2% the previous month). UK inflation is now lower than US (3.4%) and the Eurozone (2.4%).

And with the classic comedy timing of a Monty Python sketch, Rishi entered from stage right to inform all that……“the plan is working”. Rishi also talked of people "feeling the benefit" of lower inflation. Yet lower inflation still means rising prices on top of previous high rises. 

He just doesn’t want to acknowledge basic economics. The inflation over the past 3 years has taken us well away from the previous 2% trend. Instead of rising by 6% since July 2021, prices have risen by 19%. I’m not feeling much “benefit” from that.

2 years ago when Rishi was Chancellor he made a speech to CBI saying he can’t stop inflation, as clamour was growing at the time to provide help for poor. And yet he popped up this month to claim he’s an economic magician. Inflation’s down but we will live with its legacy for years to come.

And just as night follows day……speculation on interest rate cuts ramped up a notch.

The International Monetary Fund upgraded its forecast that the Bank of England has room for 3 interest rate cuts this year. The debate now is when not if. June (less likely) or August. The current level of 5.25% (a 16 year high) is clearly above the pain threshold for many and reductions can’t come quick enough.

Perhaps the bigger economic news for the ‘world’ was the US Federal Reserve announcing that US interest rates are likely to remain higher for longer as price pressures will see inflation not falling back to the 2% target in the near term. At its latest policy meeting, the world’s most powerful central bank kept its benchmark interest rate unchanged in the 5.25% to 5.50% range for the 9^th consecutive month.

Spare a thought for Argentina……inflation is currently running at 289%!

The lowering of inflation and increasing prospect of interest rate falls has pushed business confidence to its highest point in nearly a decade. According to Lloyds Bank’s latest business barometer index (my fourth favourite index), confidence climbed to its highest level since November 2015, up by 8 points to 50%. The data indicated that companies were growing increasingly optimistic about their trading prospects and were keen to hire more workers after grappling with rising interest rates and elevated inflation for the past two years.

Elsewhere……the Covid inquiry (remember that?) is on track to becoming the most expensive in history, costing the taxpayer at least £300,000 a day over the last year. The investigation into the pandemic has been running for almost 2 years and has spent almost £70 million in the last financial year. In total, the inquiry has cost the taxpayer £94 million so far. It is not expected to produce its final report until the end of 2026, suggesting it is on track to cost about £200 million in total. This would surpass the £195 million spent on the inquiry into the deaths of 13 people on Bloody Sunday (which lasted 12 years).

My favourite number of the month……2……coming second out of 20 teams in a regional netball tournament. 

Trump of the Month

The Trump of the Month award was always designed to acknowledge the crazy and lunatic behaviour of those in power that we trust to run the many different facets of, well, the world.

You know the sort of stuff…..

The Trump suggesting drinking bleach to ward off covid. Crazy.

Bojo shaking hands with anyone within a 3 mile radius to show how safe body contact is at the start of a pandemic. Lunatic.

Giving Liz Truss the keys to Number 10. Mental.

Letting Matt Hancock write social distancing rules, repeatedly tell the little people to obey and then break them without regret with an extra marital affair. Mad.

Suella Braverman banning tents for the homeless as they have made a “lifestyle choice.” Insane.

One constant throughout the years has been The Trump’s consistent lunacy across all aspects of his personal and public life. Not just one off acts here or there……consistent acts that leave us all feeling smug that perhaps we do have our lives in order after all.

The latest twist in The Trump’s life sums up his craziness in one beautiful example. 

The Trump had an extra marital affair with an ‘adult actress’. Hush money was paid to keep the ‘adult actress’ quiet so that the story doesn’t come out during The Trump’s run for the Whitehouse. The hush money was paid from business accounts for made up services for a lawyer. The lawyer is found guilty of fraud and serves time in prison.

Fast forward a number of years……The Trump is accused of 34 charges ranging from accountancy fraud to rigging a Presidential Election. He of course denies it and calls it a political witch hunt.

The adult actress and the lawyer are key witnesses in the resulting court case. 12 jurors deliberated for two days before reaching a unanimous verdict that The Trump is guilty on all counts.

The Trump is officially a criminal.

Speaking outside the courtroom, The Trump condemned the Judge as “corrupt and a devil” and “this was a rigged, disgraceful trial.” He has promised to appeal the decision, which will delay his sentence until after the Presidential election. Cunning.

The Trump is the first former US President with a criminal conviction and the first major party candidate to run for the White House as a felon.

The US Constitution sets out relatively few eligibility requirements for Presidential candidates……they must be at least 35, be a natural born US citizen and have lived in the US for at least 14 years.

The craziest thing #1: There are no rules blocking candidates with criminal records and The Trump thinks it is still completely acceptable to run for Presidency as a criminal. “The real verdict is going to be November 5th by the people,” he confidently cried.

The craziest thing #2: The Trump campaign raised a total of $52.8 million in the 24 hours following the criminal conviction……a third of the donations coming from new donors.

The craziest thing #3: The Trump took to social media to exclaim “IF THIS CAN HAPPEN TO ME, IT CAN HAPPEN TO ANYONE!” Really? I’ll remember that the next time I cheat on my third wife with an adult actress and have to pay her off because I’m running for President.

The Trump of the Month award for May 2024 could only go to……The Trump.

Sheer madness.

Trump Lunacy Rating: 10 / 10

 

And Finally……

“In a mad world only the mad are sane.”

Akira Kurosawa

The Month That Was……April 2024

April is always a big month in my household. Always a time of excitement, reflection and the dawning of a new chapter. That’s what the end of one tax year and the beginning of another brings. There is no other month like it.

Oh, and it’s also my daughter’s birthday. 

Just like the respect I show tax year end, I also take my responsibility to raise a curious 10 year old seriously. That’s the way I roll.

Her birthday made me pause and ensure that the life lessons we were given as children are now passed to the next generation to then hand on. You know the ones:

- Don't go out with wet hair or you'll catch your death.

- If you make a face and the wind changes it will stay like that.

- Hot tea bags will set the bin on fire.

- Always wear clean underwear in case you get knocked down by a bus (I still live by that).

- If you swallow your chewing gum it will take 7 years to digest.

- Having the interior light on while driving is illegal.

- Watching the TV for too long will give you square eyes.

- Kissing a member of the opposite sex makes your teeth fall out.

- If you swallow the pips in an apple, a tree will grow out of your head.

- If you eat your crusts you’ll get curly hair and if you eat your carrots you’ll be able to see in the dark.

- You will get cramp and drown if you go for a swim within 3 hours of eating a meal.

- She's the cat's mother.

All are an absolute pack of lies but yet all are vital lessons in raising a 10 year old properly.

The baton of lies has been passed.

 

The Numbers

The big number for investment markets (and that means pensions / investments for millions) was the FTSE 100 stockmarket growing to above 8,000 for its highest position in history.

London’s blue-chip index has risen to a new record high on the back of fading concerns about an escalation in Middle East tensions and the expectation that the Bank of England will start cutting interest rates earlier than planned.

Fading Middle East tensions broadly means that we are less concerned about the impact of rising oil prices now. It’s never been about the cost to humanity……it’s always been about keeping oil affordable. After a 21% increase in oil since November, prices have started to fall and ease the economic concerns.  

Inflation figures highlighted the pace of consumer price growth in the UK economy fell to 3.2% from 3.4% in the previous month, the lowest level in 2½ years.

Ever the economically illiterate, our great Chancellor took to media channels to announce, “The plan is working; inflation is falling faster than expected and helping people’s money go further.”

Right Jezza, let’s make this clear for the (insert number of your choice – I’ve lost count) time……

Firstly, you don’t have a plan for inflation. You never did. You have absolutely no control over inflation. The Bank of England holds all control and they are independent of Government. Just like you couldn’t stop inflation rising to 11.1%......you can’t get inflation to the target of 2%. The plan can’t be working as you don’t have one.

Secondly, the price of goods is rising by 3.2%. Yes the rise isn’t as severe as 11.1% but it is rising. That means things cost more. If things cost more, then this doesn’t help people’s money go further. Actually, they have less.

This is basic economics.    

Anyway, on the back of the inflation data the International Monetary Fund (the IMF to you and I) announced that it expected the Bank of England to lower the base rate from the current 5.25% to 4.6% by the end of the year……and this got plenty of people excited.

In addition, the Eurozone, our biggest trade partner, also seems to have inflation under control with the latest fall to 2.4%. This is the lowest rate for 2 years, raising the pressure on the European Central Bank to become the first major authority to cut interest rates this year.

If debt costs less, then businesses will make more money. If debt costs less, then consumers will have more disposable income to spend or can borrow at lower rates to spend what they don’t have.

Whilst the FTSE 100 is meant to be about the value of the largest listed companies in the UK, the reality is that it provides a forward measure of confidence. Or to put that another way……do economic conditions look better or worse in 6 – 9 months.

The current cocktail of inflation being under control to the point of interest rates likely to fall and Middle East tensions stabilising (or at least not escalating) looks appetising……causing the FTSE 100 to get excited.

Whilst rising energy prices and disruption to international shipping seems only a news report away, the current economic picture does look encouraging.

In the US, spare a thought for the jurors for The Trump court case in New York. 60 of the 96 potential jurors were discounted as they declared that they could not be impartial on the hush-money / porn star / business fraud case. I’m dumbfounded that 36 people believe they can act without prejudice……which I guess will add fuel to the ‘witch hunt’ narrative that The Trump peddles. 

Elsewhere, my own favourite number of the month…… 5,644……the number of metres my wife climbed at Kala Patthar at a 50% oxygen level to see the sunrise over Mount Everest.  

 Trump of the Month

The Trump rolled into court this month to defend falsifying business records to conceal a hush-money payment to ‘adult actress’ Stormy Daniels ahead of the 2016 election (which he then won). He faces 34 charges stemming from an alleged $130,000 payment made.

The Trumps lawyers launched three unsuccessful appeals in as many days in an attempt to push back the start of the trial until after the November Presidential elections.

Tax evasion……falsifying business accounts……sex allegations……all very damaging for any Presidential nominee. But yet, we shrug our shoulders and kind of accept that’s who he is. No real surprise any more.   

For anybody else, they would have been a shoo-in for the Trump of the Month award. But the award this month goes to…… William Wragg.

The story relates to Conservative MP William Wragg who has sent nude photos to someone he met on a dating app. He was then blackmailed into handing over the phone numbers of further colleagues. Saucy messages were then sent to these colleagues from either “Abi” (to straight men) or “Charlie” (to gay men) attempting to cajole them into sending nudes back for more blackmail opportunities. It’s called ‘spear phishing’ apparently.

Up to 20 Government advisers and ministers have admitted to then engaging in inappropriate messages……and that number is based on those who’ve admitted to it. I think we can safely assume the real number is much higher.

Randomly, Willy was praised by the Chancellor for being “brave” (I was thinking stupid, but hey-ho) and he then promptly resigned as vice-chairman of the 1922 Committee. How very Tory.

The information that MPs responded to nude photographs, sent by someone they didn’t know, by sending nudes back is more than a little disturbing. I would (perhaps) be a little more understanding if this had happened to a gormless 14-year-old……but this happened to the adults who are supposed to be running the country.

Actually, it’s more than a little disturbing.

Firstly, (and call me old fashioned) but I’d quite like those in the House of Commons to be running the country rather than trying to take pictures of their genitals in a 900 year old building offering unflattering light (the House of Come-Ons anyone?).

Secondly, there is a credible suggestion that this ‘spear phishing’ exercise might well have been the action of an enemy state. In other words, Iran, China or Russia now think so little of Britain that they’re not bothering with spies, terrorists or double agents. Instead, they’re just collecting a back catalogue of winkies as this is all it takes to control the UK. And it’s worked.

Is there any point in Britain being, at great expense, one of the world’s nuclear powers if our security levels are only down to how bored some minister is on a Tuesday evening with a camera phone?

Thirdly, it appears that all of the impacted are men. We, once again, need to raise the question of whether men should be in a position of power? I think there’s a very strong case for all future ministers being women. It takes the willy pictures completely out of the equation. Simple.

Problem solved……but what absolute lunacy.

Trump Lunacy Rating: 10 / 10

 

And Finally……

“The best way to find out if you can trust somebody is to trust them.”

Ernest Hemingway