Freezing Fog Over Channel, Continent Isolated

Tue, 2017/12/19 - 10:47am | Your editor
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On our ride in from Gatwick where we landed from delayed JFK yesterday I spotted a rainbow off to the south of a bank of clouds. I assumed it was a herald of tidings of joy but it seems to have indicated that weird weather was coming. We escaped to London just in time, arriving about 24 hours before this blog goes out.

Now all four London airports are out of service, hit with freezing fog which has delayed both incoming and outgoing flights, 49 each at Heathrow, and dozens of others unable to take off as far north as Manchester. White Christmas is all very well if you are travelling by sleigh and need snow under your runner blades, but airplanes actually work better with dry ice-free runways.

 

Humphrey Bogart'sand Michael Jackson's hatmaker Borsalino has gone bankrupt. Hats are so-o-o 20th century but backward baseball caps do not keep the cold off your ears. The Italian firm was over 160 years old.

 

Andrew Left, a short seller at Citron Research, says he has found a way to gain from “the incredibly naive investor base” in crypto-currency. He will sell short the listed Bitcoin Investment Trust and cover his risk by buying bitcoin bitcoin futures. The BIT is trading at double the level of bitcoin it holds. The cryptocurrency was trading at $18,066.40—swell under its Sunday all-time peak of $19,694-- in a low-volume hyped up market. The Citron move is an alternative to trading futures, which are in short supply on the Chicago Mercantile Exchange (CME). I am not a short-seller because the risks are similar to picking up pennies on a railroad track while an express train is coming. But if you want to gain from a market dump of bitcoins, Left is right.

 

Today we have gains from another election to come and one which produced a happy outcome. The world gains from democracy which boosts stock markets if the people or the parties produce a result stock punters approve of. This occurred in Chile on Sunday, with the right wing Sebastian Piñera victory; in South Africa yesterday when the ANC voted out the corrupt Clan Zuma; and our luck may also hold in Thailand next year when the junta is supposed to gain a popular mandate.

With the Republicans about to sell out their electoral base with the supposed tax reform whose main beneficiaries are the idle rich rather than the working or jobless poor, you need to look at other countries to learn to believe in democracy. Our House of Representatives has begun the rollcall on the tax (haha) reform package.

 

More from these countries today as well as a few othern democracies, like France or Israel, where populist protectionism also is a threat to business. Mostly as the wending of the year comes close, we write about deals in Britain, The Netherlands, Canada, Brazil, Mozambique (a first!). Ireland, Mexico, Canada, Spain, South Africa, and Panama.

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