The light was not that good this morning, and I decided to just take an iPhone with me in case I wanted to take photos.
I chose to take pictures in black and white. This was the result:
Coffee, binoculars, a small rucksack for bird books and other bits, and the Lady Fen at Welney in the background. My sort of morning.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Hi this is random do you agree with Neil Wilson explaining USA system here: “in a floating exchange rate system.
The only aggregate alternative to holding a government security (gilt or Treasury Bills) is to hold a Sterling bank deposit, which then allows the bank to bid in any government security auction with the same money.
They don’t use Sterling anywhere else and it can’t be disposed of in aggregate.
Therefore the issue is always one of duration, with overnight (which is what a bank deposit is) being the ultimate backstop.
The evidence that the market “doesn’t want” 30 year bonds is that they are asking too much for it. Therefore they shouldn’t be getting any more, at which point the excessive bids will have to chase fewer bonds and push the price up.
DMO should be offering short duration bonds that are useful to the banks holding the deposits until prices in longer bonds recover.“
Agree with this:” If people spend from savings or take out bank loans and spend that reduces deficit but increases transactions and potentially inflation. Government spend and get all money back as tax more transactions only leakage from circular flow of money to tax rather than tax and saving (stops sooner) hence STRUCTURAL DEFICITS ARE DEFLATIONARY! Full worked example: https://new-wayland.com/blog/structural-deficits-are-deflationary/
“
There is no reason for bonds – they are only a favour to markets. If markets do not want them, do not sell them. It’s not rocket science. Take deposits – or sell perpetuals (much the same thing, in mamy ways).
So, all bonds do is reinforce this idea that governments spend other people’s money and have none of their own?
Yes
I think another YouTube video reinforcing this is needed
On my list – soon…
the photo soothes the soul – thank you – my bird watching this evening is the film ‘The Penguin Lessons’ – a true story of an unlikely friendship between a flightless bird and a disillusioned teacher out of his depth who went to work in a school in Argentina – he rescues the penguin from an oil spill in Uruguay in the 1970s and discovers a divided nation and a class of unteachable students – sounds fun!
I think that is based on a book I read – which was very good
yes – it is based on the book – I will see the film and then (inevitably) buy the book.
🙂
Hope you enjoyed the break. You deserve it.
Thanks
The best birds were cranes – whilst still drinking tnat coffee…
Birding does not come easier than that
Nothing quite like cranes. Thousands fly directly over our house in The Hintertaunus (near Frankfurt) every Autumn in hundreds of V formations making that sound only cranes make. It’s a sensational spectacle to behold. As is watching everyone out in their gardens craning their necks to the sky!
Nothing looks like a crane in the sky
I saw two today
Great still life picture!
Thanks
A nice, strong image.
Yesterday evening I went out in a boat on Rutland Water to see the ospreys. Absolutely stunning. The oldest inhabitant is Maya, who this year has four chicks – flourishing (so far!). She’s been coming for about 17 years and has had chicks every year.
I also saw a lot of swifts, common terns and cormorants – was getting a bit late to see much more AND it was bloody freezing!
As I type, a song thrush is singing at full blast in the trees, competing with two blackbirds for Best Solo in the wind section of my garden orchestra. On percussion is a great spotted woodpecker. Stretching the metaphor a tad, the strings are represented by one of my cats demanding supper. As for me, all I can say is that my orchestra has no brass.
🙂
Lovely photo, Richard! Really gives a flavour of the place and your day. 🙂
This morning I glanced out of my eyrie of a window and saw two swallows swooping over the houses at the bottom of the road. I was dead chuffed, as it’s two or three weeks since I saw a single swallow (which does not a summer make) and thought maybe there weren’t going to be any more. I haven’t seen a single swift for years now, which saddens me greatly.
Swallows were out in force yesterday – they nest in good numbers at Welney. They are flying over Ely.