Black Swans - Blain's Morning Porridge

Recent Porridge

The UK’s Green Gilt is Marketing Puff and a Pointless Distraction
September 22, 2021
The UK attracted a record £137 bln order book for its £10 bln Green Gilt. But what does the Green Gilt achieve? Its marketing puff. It may disguise how ill-considered and ultimately self-defeating the Government’s rush to looking green has been. No matter how well intentioned a Green Gilt is – its style over substance, papering over the cracks in …Read More »
Is Evergrande a symptom of deeper malaise?
September 21, 2021
Evergrande’s imminent default is rocking markets – but few believe the collapse of a Chinese property developer could trigger a global financial crisis. What if Evergrande is just a symptom of a deeper malaise within the Chinese economy and its political/business structures? Maybe there is more at stake than we realise? What if Emperor Xi decides he needs a distraction?Read More »
Beginning to look like a Messy Cascade
September 20, 2021
The most destructive rock falls start with a single pebble trigging a cascading chain reaction. Are markets heading towards a cascading crash as spiking energy costs join inflation and supply chains on the list of likely meltdown trigger points? Or should we relax?Read More »
Stock Momentum, Covid and Big Tech
September 15, 2021
Stock markets feel like they are running out of momentum – but that should not lead to fears of a no-see-um crash, rather a more fundamental assessment of the reasons why? In the UK, Plan B – National Economic Suicide by winter Lockdowns – looks on the cards. And, despite all the wonders of Big Tech and promises about how …Read More »
Apple has a monopoly on being Apple!
September 14, 2021
Highlight event today is Apple launching new bright-shiny-things. Apple is unique – it has a monopoly of being Apple! For how long?Read More »

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