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First the UK, then the USA and now the EU have come out with mind-boggling public expenditure programmes which are unfunded and must prove inflationary. Since they are all degrading their currencies it is surprising that cable stands at 1.15.
Most of the Continental banks have been insolvent for years. Now they are surely bust the ECB has announced that it will advance c. E700 bn to buy Euro-denominated debt such as Greece’s liabilities and commercial paper across the eurozone.
For some obscure reason gold still sits down at $1,480.
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EasyJet tomorrow pays out £170m by way of a dividend but is expecting HMG to lend to it big time. Most mysterious.
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Watchstone (LON:WTG) has hardly moved this last few weeks and can be bought for c. 145p. This is hardly surprising given that tnav includes cash of c. 200p per share and no debt. A 110p per share cash distribution is scheduled for June 2020.
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It’s an ill wind: HMG has closed all the UK’s schools and, presumably, the scramble for private and online tutors will be considerable. A beneficiary will be my elder daughter’s tutorial business, Osborne Cawkwell.
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Finally, my brother Tim has published Cricket On The Edge which deals with that game in 2019. It is very carefully and well written. It is only available on Amazon for c. £10. 215 pages.