The scale of the UK’s funding crisis is becoming increasingly apparent. It can be fixed – but needs political sacrifice. “Changing Policy” and backing off promises has costs and consequences. The UK is not in dire peril - it remains a fine, innovative and strong economy, but we need to get real on spending and how its funded.

 Who would possibly want to be a billionaire? Hated by the mob, a victim of evil governments holding you back with tax threats while denying your basic human rights – like a platinum gold bank account! Give me poverty anytime…

Valuations in the USA look insane. Surely stock prices must be a bubble? Maybe. Maybe not – the USA has created a self-driving technology machine, a conveyor belt of tech innovation that’s set to continue delivering value and corporate profits. To understand it – ditch traditional thinking about economies.

Oh, to be a fly on the wall while they wrote the speeches for last night’s Mansion House dinner. The Bank’s Bailey railed against Brexit, while Chancellor Reeves plans to deregulate financial services and refocus UK investment through new Megafunds. What could possibly go wrong?

The UK election is the most important in decades, but the debate on policy and the future is trapped in the minutiae of the financial orthodoxy of costed and funded policy tweaks. The malign ghost of Liz Truss and the Trusterf*ck haunts markets like a bad smell. It must be exorcised!

Very early start on the radio this morning, but Jamie Dimon and I are aligned; the global economy is at an inflection point as higher rates, stickflation, debt and climate costs hit the reset button. It doesn’t have to be a bear-reset and could present massive opportunities! Embrace change!

COP27 is about the politics of global energy – energy being the lifeblood of growth and prosperity. The Ukraine war’s outcome is also about energy: can Europe withstand Russia’s General Winter and coordinated assaults on its’ economy and political stability.

As we start a new week of dismal markets, depressing political news, rising inflation and lots of what next worries… relax.. the Sun will come up tomorrow. Not so sure about the economy though…

Blain’s Morning Porridge – St Georges Day 23rd April 2020 [...]