In the headlines this morning: https://morningporridge.com/stuff-im-watching
I’ve just seen the surest sign economic apocalypse lies around the corner: Holiday sales in the UK are up 5% on a like for like basis, confirming we are so miserable about the B-word and everything else that we’re going to collectively max out the credit cards on a few extra days in Torremolinos… Hurrah! Ole for Spain…
A quick glance at the markets – miserable.
A quick review of the Davos bullsh*t – miserable (although full points to David Attenborough and Mr Cambridge for daring to chat about the wretched mess we’re making of the planet… (I can guarantee a chum of mine at Morgan Stanley will send me a blistering riposte telling me Climate Change is fake..))
US-China trade talks – miserable.
US Housing market – miserable.
European Elections in May – miserably populist.
European numbers – miserable.
IMF global growth outlook – miserable.
Prospects for Japan – miserable.
US Government Shutdown – miserable.
B-Word compromise in UK – Miserable and NFC.
Outlook for bank earnings, and Deutsche Bank as investigators sniff round Danske Bank trades – Miserable.
Corporate earnings – miserable.
Tech sector – suicidal.
I’m sure you get the drift. It’s January and we are all miserably miserable. And since everyone is so miserable I shall be enthusiastic – from Feb 3rd when I get back from a Ski trip. Things are probably not as bad as they look. They never are.
On Brexit, we’ve got Angel Gurria, head of the OECD, saying a No-Deal would not be the end of the world. Gosh – that sounds like heresy! A member of the establishment saying its nothing more than a storm in tea-cup?? Surely not!
