I hope you all enjoyed a pleasant Christmas Day wherever you ended up and whomever you were with. Ours' was a quiet affair, which I found quite satisfying; it was also nice to see my youngest daughter with a smile upon her face.
My eldest daughter's partner, although he is not a great lover of vegetables, certainly managed to do their household proud with the spread I was presented with. I'm afraid the Christmas pudding didn't make an appearance, bulging waistlines couldn't accommodated another course!
The weather oop north hasn't entered into the Christmas spirit, although it was windy yesterday it certainly wasn't a White Christmas, pleasantly mild in fact.
As for Boxing Day, I've switched the central heating off this morning.
I wonder how many of us will be tempted out to the Boxing Day sales, or will the thought of still to pay for yesterday's excesses keep us in front of the box instead?
Around the other side of the world they are scratching their heads in China over how they are going to pay for all their exorbitant spending, both in the state and private sectors, of the past few years. With it looking as if the provincial players might be the ones that could bring the house of cards tumbling down.
Also if your markets in the West are in recession who is going to buy all those lovely things you have been making in the past?
Because if you can't afford to re-pay your debts now, deferred payments are only kicking the can down the road a bit; as for borrowing now to pay the interest due, that's really building on quicksand foundations.
So is China actually bankrupt?
Quietly China has been following the Kirkcaldy Economic & Fiscal Plan (KEFP) to inflate it's self into the powerhouse we think it is. KEFP is based upon ignoring saving for a rainy day whilst your economy is producing a surplus, instead one relaxes banking regulation, applies for as many credit cards as you can get; then maxes them out immediately.
China also thought it was onto a winner by collecting US Dollars, but the Yanks have a cunning plan to inflate their way out of that one, which in turn weakens China's asset base.
Having experienced the successes of KEFP in this country, our own political elite might want to be a bit more prudent in hoping the Chinese seventh cavalry will come galloping to their rescue any day soon. In fact 2012, the Chinese year of the Dragon, might be the year the dragon meets it's slayer named Debt.
Well enjoy your Boxing Day.
6 comments:
On my way to a Boxing day meal but thought I would do the rounds before going.
Interesting news was that China and Japan are signing an agreement to be able to convert their currencies - without needing Dollars.
Cat, pigeons, anyone?
JUST WISHING EVERYONE A MERRY CHRISTMAS, HAPPY HOLIDAYS TO ALL
HOPEFULLY see you at BOXING DAY SEW IN
Enjoy the meal young Fu-Merkin-Chu & Thanks Prediksi for the invitation to the sew-in.
As Mr Raft likes to secure a pudding supply we were out by mid-day looking for pudding sales.
Nothing. Open shops comprised: two shoe shops, one book shop, one discount chemist, one cafe, two newsagents, petrol station, pubs.
Not even the main supermarket was open today.
Ah well WoaR maybe better luck with the pudding supply on Boxing Day +1.
Although I did notice when I was out looking for a bargain in M&S and our local ASDA, that they had a lot of food with it's Sell-By date 28th/29th Dec, so maybe better planning this year.
Anyway good luck with the puddings.
Hi Woar, could be worse.
I had a 35 minute journey transformed into 4/5 hour journey by 'rail works' and then, finally, the ferry was rather choppy.
Felt like the Scharnhorst venturing forth from the Baltyk in pursuit of an Arctic convoy.
If (during the 20 minute journey) we had seen a couple of destroyers and a heavy cruiser we would have regretted not buying Veri lights when we too attempted the 'Sales' the previous day.
That was my rant.
Merry Christmas all.
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