Diamond Dogs

Yesterdays P&L: GBP -90.00

Yesterdays Booze: 1 bottle of Smirnoff, 1 bottle of Australian red wine

Yesterdays Soundtrack: Music to watch cars go by

So the American mid-term elections were a little unkind to Obama. What is his approval rating now forty percent? Less? I am not sure what people expected of him but it is clear that the problems affecting America are far more significant than he and his team are equipped to deal with. The Fed surprised nobody by announcing plans to purchase up to six hundred billion in US securities to try and lower borrowing costs or, more likely, to stimulate inflation. Meanwhile analysts speculated that the flotation of GM may result in a billion dollar loss for the US government and in addition GM stands to benefit from a tax break of up to forty five billion dollars. Of course it is unlikely to protect GM from future competition. America, unless it declares a one hundred percent import tax on cars will have to accept its days as the industrial superpower are over. The mantra for American politicians has been that America continues to reinvent itself and becomes the leader in new industries. I suppose a good example is Solyndra, a US based manufacturer of solar panels that benefited from a half a billion dollars in loan guarantees following a visit from Obama has decided to freeze hiring in the US and shutter one of its existing factories to open a new production facility in Wuhan, China.

Seems to me America has so many of the problems that UK industry experienced, primarily financiers coming up with unsound expansion plans, consultants coming up with bizarre procedural changes in order to justify their fees and top heavy administration. My father has a good example of the later when the shipping company he worked for finally bit the dust. He remembers going to the company Head office as his was the last container ship and seeing a few weeping staff in the human resources department. The HR department had previously made almost all his colleagues redundant and given the advice to brighten up and look for new opportunities. My father asked what the problem was and one girl told him they had all been made redundant. He said of course. What do you mean a few of the staff said and my father replied well you are the personnel department, correct? why did you think you would be needed when you just spent the last five years getting rid of all the personnel?

Anyway as expected the additional funds pumped into the market had the anticipated effect and the stock markets soared. Doesn't anyone think things through? Quantitative easing is likely to be viewed retrospectively as one of the biggest mistakes ever. But as long as we avoid addressing the real problems now. It may seem that I am picking on the Americans but it isn't the case. At the end of every shift in power there is a period of immense hardship. I can't think of a seamless shift, I don't see why the decline of America should be any different.

The stalker is off to Switzerland for more medical treatment. Not sure what they do to her in these places, she told me she doesn't get chemo anymore but some stem cell thing. It's quite experimental and not offered by the NHS but they are very interested in the results. I am sure she will be ok - she is pretty tough. Still every time she comes back she looks a little drained. I understand why she hates my nihilistic attitude but she always knew what I was like. Maybe she still remembers me from the first time we went out together, but I was very immature then. I was even a little optimistic. I am not sure why she can't stay away from me. At this point, I have nothing to offer her. The sex is good but that's about it. We have a few things in common, but not enough to justify her overwhelming interest in me.

Yesterday's music, my top five tracks:

True Faith - I remember the first time I heard this song, in a dodgy club in Woolwich. I love the nihilism of the song, but it doesn't sound like a despondent song. The driving beat makes it sound quite upbeat. but the lyrics tell a different story, "My morning sun is the drug that brings me near To the childhood I lost, replaced by fear I used to think the day would never come, that my life would depend on the morning sun".

Old Red Wine - Quite a reflective song. The Who are like wine, the best stuff was made years ago but tastes good even now. Life is kind of like that, you make your fun in the sun and then you end up bottled and corked.

Suburbia - The Pet Shop Boys, these guys were huge when I was a kid. Suburbia is a song about those boring places that aren't the city and aren't the country. The outskirts of London are full of them. One of the greatest cities in the world, but one time when I was in hospital I was talking to a guy about nineteen in the next bed and he had never been into London, (this was about forty minutes by train from Paddington). So many people are just comfortable with what they know.

I Just Don't Know what To Do - Dusty Springfield was a great singer, to me her voice is always tinged with sadness - I get the impression she was rarely happy.

Blue Moon - The Elvis version, OK his voice was swimming in reverb but it's still Elvis. Saw the movie, Nowhere Boy about John Lennon, I loved the bit when he was in the cinema and sat bolt upright watching Elvis at work.

In case I don't see 'ya...good afternoon, good evening, and goodnight!