Good Times, Bad Times

Todays P&L: GBP 220.00

Todays Booze: Still dry

Todays Soundtrack: Hard Rock Wednesday, Led Zeppelin


Another dry day, this is getting ridiculous. I want to drink and feel I should at least have a whiskey, but I think I shall wait until after I have seen the quack.

The markets were negative today, despite Apple promising to revolutionize the way we have our media with the all new iPad. Caterpillar set the tone by announcing dismal earnings before the US market opened. They are an interesting company to watch because aside from being one of Americas declining industrial manufacturers, they usually give a good indication of the tone of the construction market, both retail and commercial. A more key indicator was the S&P500 future trading below 1,091. I am not a chartist, (someone who rigidly follows by and sell indicators on the charts that are generated by asset movements), but there are so many out there and so many program trades, that it pays to follow them. 1,091 in the S&P is a below the moving average and a point where the people who are bullish, (have brought the market), may feel inclined to give up their positions, thus causing further selling. It is difficult for me because my overwhelming belief is that the governments are in far more trouble than we know as a result of bailing out the private sector. This should mean they have to raise rates in order to attract investment which should lead to inflation and in an inflationary environment the last thing you want to be holding is fixed income bonds, so equities are usually as inflation proof as you can get, apart from gold of course which if it drops to 1,000 dollars per oz I will be buying.

Today I was listening to a lot of rock music, which and I know this is a cliche, but I find difficult to listen to without a bottle of Vodka and Wild Turkey, (I am nothing if not a traditionalist). When it comes to hard rock for me it has to be Zeppelin. One of the few bands I wanted to see but never got the chance. I was too young when they were at their peak and was somewhat annoyed when the Stalker told me she had two tickets to go and see the O2 reunion concert but gave them away as she was too busy to go. This was prior to our reuniting. Anyway, my top five Led Zeppelin tracks:

Whole Lotta Love - For a lot of people my age in the UK it was the music from Top of the Pops. A brutal, simple song that batters people into submission, the lyrics are questionable at best, but that doesn't matter just turn those amplifiers up all the way. Reminds me of talking to my guitarist friend at school, discussing how we were going to take over the world.

All Of My Love - One of the least popular Zeppelin songs ever, but I love it. Robert Plant supposedly wrote the lyrics in memory of his dead son. Even an industrial, commercial monster like Led Zeppelin is allowed to show some emotion sometimes.

When The Levee Breaks - Classic Led Zep hyper blues and possibly the most sampled drum sound of all time. The song is all about how nature can really screw up the plans of men. It reminds me of a mad holiday in New Orleans, sitting across the river looking at Algiers, wondering how long I could stay before I got mugged. Actually got mugged the next night coming back from the Napoleon House and heading behind Jackson Square - got to love New Orleans.

Rock And Roll - More good time music, to me this song seems to have an almost irresistible urge to it. For some reason when I am listening to it I can't help thinking of a snake oil salesman in some frontier town, possibly with his sidekick playing honkey tonk piano. Led Zeppelin will always seem more American than British to me.

Babe I'm Gonna Leave You - Led Zeppelin back in the days before it was all about the high octane volume and the money. Robert Plant sings like he never read Tolkien and Jimmy Page resists the urge to crush everyone into submission with a guitar riff. Bonham still hits the drums like they are weapons of mass destruction but that's just the way he was apparently.

So that's my favourite Led Zeppelin songs. Even New romantics like me in the eighties wanted to strut the stage like Jimmy Page and almost everyone who picked up a guitar HAD to learn the riff from Whole Lotta Love. Other bands did similar things, Black Sabbath may have been heavier. Deep Purple may have been bluesier, The Who may have been louder but Led Zeppelin were just more. I remember in the punk days reading a headline in some music paper, (Sounds or the NME - remember them)? The headline was Led Zeppelin saves the music industry and the by-line was new album causes world-wide vinyl shortage.
Disclaimer
I am not responsible for what may happen if you read this post backwards.