Blain’s Morning Porridge Special – December 20th 2023: Big Changes to the Morning Porridge in 2024 – New Resolutions and New Business
“I love deadlines. I like the whooshing sound they make as they fly by.”
A Morning Porridge Special: Realisations, Resolutions, and Goals for 2024. It’s a New World.
We are into the last few days of the 2023 markets. I’m planning to write comments Thursday/Friday, but that rather depends on whether a tickly throat develops into the full-scale flu that’s hitting the UK. (She-Who-is-Mrs-Blain has it.) To fight it off I went for a swim in the River – Cold. Very cold. Kill or cure. I fear the former.
After this week The Porridge will return in January. I have little expectation for major market moves ahead of the new year. It’s clear most investment desks have closed-up ahead of the holidays to new concepts and ideas for 2024 – they are putting 2023 out the way first. Yet, market momentum looks set to push US stocks to hit record highs! What is fuelling such blind optimism? Who knows…
For markets, there is still lots to lose sleep over:
There will be supply chain and energy price implications from the Bad el-Mendeb Red Sea choke point as Western Navies seek to protect the sea lanes from $10,000 Houthi drone attacks with $5mm surface air missiles – which already are in short-supply. Asymmetric warfare is not one-sided when it comes to the economics…
The looming debt-wreck of the Issa Brother’s Asda/petrol forecourt UK empire will be a shocker – and raise questions like: Who else? What? Seriously? Did no one else foresee how the sudden rise of two chancers fuelled on cheap debt and dubious intra-company leverage might just go wrong when rates rise?
I’m wondering just how deep the consumer downturn is going to be – and how badly it will smash the Buy-Now-Pay-Later model.
Plus all the big issues; like central banks’ Hike, Hold, Pass or Fold decisions, energy prices, politics and events, events dear boy…
The New Year will not be dull.
https://morningporridge.com/blog/blains-morning-porridge/big-changes-to-the-morning-porridge-in-2024-new-resolutions-and-new-business/