@Britishairways British Airways is something of a metaphor for Broken Britain. Doesn’t work very well, living off past glory and an uncertain plan for the future.

After 10 days out the market, it’s clear the seasons are turning. What comes next – more on that tomorrow! I’ve elevated Disney to “Worst Company in the World” status, while the tragic loss of Mike Lynch’s yacht raises multiple questions, while confirming increasingly chaotic weather.

Hamble Village won the first battle yesterday – Hampshire County Council turned down an application by Persimmon (via Cemex) to dig a destructive quarry right in the heart of our village. It would cause massive health and economic damage while raising flood risk. Persimmon will appeal – so we are preparing for war.

Lots of unhappy creatives this morning as Apple threatens to replace them all with iPads – after crushing their creative souls completely. Is it Apple’s Ratners Moment, or another sign of a mature company that’s lost touch with its community, and is badly in need of reinvigoration?

The UK is in “technical” recession. Broken Britain is the depressing reality. The bleak outlook will have profound and long-term consequence, unless we act fast to figure out how to fix the way the economy works. The key is better management.

Charlie Munger has left us a deep well of investment advice – pithy quotes we can all learn from. Pay attention and remain deeply, deeply sceptical. Meanwhile, the fact bond rates are falling does not mean the global economy is fixed. It means trouble ahead.

The City of London’s crown as the centre of global finance sits uneasy. Multiple issues face the City, but perhaps the biggest is mindset and bureaucracy. How can London regain the flair and excitement that once made the City the beating heart of the global economy.

How will free-market economies resolve crashing discretionary spending, wage inflation and looming recession when income inequality is so blindingly obvious to electorates? Something has to change.

There are lessons from the public humiliation of Kwasi Kwarteng for governments and corporates around the globe. If we are going to address the looming economic crises – then governments, central banks and financial instutions need to be on the same page. 

Blain’s Morning Porridge 29th Jan 2021: Look Around. Calm. Relax.  [...]