Last weeks competition bought the biggest response of all the competitions I have run. The first correct answer was from Mr GS who should be receiving his case of ale today. Well done all of you that sent the correct answers, you will have to be quicker next time.
The lunatics seem to be on the verge of taking over the asylum, especially in the land of the free where enough people appear to have been convinced by the mendacious one that the election was rigged by everyone from the Democrats to the Republicans, or perhaps Aunty Phillis in Tunbridge Wells, that the whole American electoral system could be in jeopardy. If one is to believe press reports, there are a raft of measures being put in place now which will have an adverse effect on the new administration. As much as the USA is only one area where we invest it is clearly the impact that it has on the rest of the worlds economies and markets that is the real concern.
Here at home the debate rages over lock up or down and what we should be doing about Christmas. At the risk of sounding like a grinch, and as someone with many years under the belt, 75 this week, and an underlying lung disease, I would far rather my offspring who I quite like stayed away this Christmas, which would be the first time ever, than come and eat my food, drink my wine and perhaps kill me. I don’t see how the prospect of a much longer lockdown regime stretching into January and perhaps beyond is preferable to giving up one Christmas.
Enough moaning Stewart. With the exception of the USA the markets have had a positive week. In the USA the Dow and the S&P went into reverse but the Nasdaq was slightly ahead. As I said above until the current standoff is resolved it is difficult to second guess what is going to happen over the pond.
By the way nothing I write in these Musings is driven by my own political leanings but reflect what is happening.
So, to the Markets