TODAY’S FAYRE

TODAY’S FAYRE – Monday 28th November 2016

 

“There’s a one-eyed yellow idol to the north of Khatmandu,
There’s a little marble cross below the town;
There’s a broken-hearted woman tends the grave of Mad Carew,
And the Yellow God forever gazes down.

He was known as “Mad Carew” by the subs at Khatmandu,
He was hotter than they felt inclined to tell;
But for all his foolish pranks, he was worshipped in the ranks,
And the Colonel’s daughter smiled on him as well.

He had loved her all along, with a passion of the strong,
The fact that she loved him was plain to all.
She was nearly twenty-one and arrangements had begun
To celebrate her birthday with a ball.

He wrote to ask what present she would like from Mad Carew;
They met next day as he dismissed a squad;
And jestingly she told him then that nothing else would do
But the green eye of the little Yellow God.

On the night before the dance, Mad Carew seemed in a trance,
And they chaffed him as they puffed at their cigars:
But for once he failed to smile, and he sat alone awhile,
Then went out into the night beneath the stars.

He returned before the dawn, with his shirt and tunic torn,
And a gash across his temple dripping red;
He was patched up right away, and he slept through all the day,
And the Colonel’s daughter watched beside his bed.

He woke at last and asked if they could send his tunic through;
She brought it, and he thanked her with a nod;
He bade her search the pocket saying “That’s from Mad Carew,”
And she found the little green eye of the god.

She upbraided poor Carew in the way that women do,
Though both her eyes were strangely hot and wet;
But she wouldn’t take the stone and Mad Carew was left alone
With the jewel that he’d chanced his life to get.

When the ball was at its height, on that still and tropic night,
She thought of him and hurried to his room;
As she crossed the barrack square she could hear the dreamy air
Of a waltz tune softly stealing thro’ the gloom.

His door was open wide, with silver moonlight shining through;
The place was wet and slipp’ry where she trod;
An ugly knife lay buried in the heart of Mad Carew,
‘Twas the “Vengeance of the Little Yellow God.”

There’s a one-eyed yellow idol to the north of Khatmandu,
There’s a little marble cross below the town;
There’s a broken-hearted woman tends the grave of Mad Carew,
And the Yellow God forever gazes down.”

 

 

John Milton Hayes – poet – 1884-1940

 

 

The Governor of the Bank of England, Mark Carney is skating on VERY thin ice once again – central banking or BREXIT politics? Which is it? We know Mr Carney has a duty of care for the health of the economy and it is very sensible to have contingency plans.  However everyone is also aware that he has been speaking to sympathetic ‘REMAIN’ investment bankers at Chatham House and senior finance directors from high Street operators with a view to having a reasonable transitional period post BREXIT whilst remaining in the single market until 2020/21. However by accommodating the wishes of many in the business sector, he assumes that his ideas and plans will be met with 100% universal support in the country! This surely cannot and won’t be the case. When speaking to these august bodies clearly Chatham House rules were not observed.  The concern or comment has been expressed in every newspaper.

With Lord Kerr making his views quite clear that BREXIT voters were too bloody stupid to be given the responsibility and Sir John Major’s comments, which by his diplomatic standards were injudicious – 48% of the electorate should not be subject to the “tyranny of the majority!” – The temperature is being raised to uncomfortable levels, almost on a daily basis. Sir John’s choice of language was too inflammatory, bordering on offensive.  It is fair to say that BREXIT voters were hardly magnanimous in victory, in perhaps showing a lack of compassion and sensitivity in accommodating all views. Consequently the response in many areas has been acrid and bitter.  However with Messrs Blair, Major, Branson, Clegg, Farron, the CBI, the City of London Corporation and Gina Miller all stirring the pot of discontent with the largest wooden spoons imaginable with a view to disrupting – if not delaying – the decision taken on 23rd June, Governor Carney needs to make sure that he does not convey again the impression that he is a ‘REMAIN’ supporter. I am confident he would deny it, but that is impression he is conveying to many observers. Mr Carney should be totally transparent over his contingency plans to avoid to falling in to the pit of politics. We would all love to hear them.

Those representing the financial sector seem to be cowering the corner worrying that the great god “EU” is going to consume the UK. It will only happen if that is what the authorities want.  We have 70 years of financial infrastructure here in London.  It would take Paris and Frankfurt a decade to build anything remotely competitive. Also people love living and doing business in London.  We are being bullied over passports. This is silly. I am all for not being confrontational and negotiating amicable arrangements over trade and the financial services with the EU.  However if EU bureaucrats want to be truculent and declare war then the UK must stand strong.  We can ease regulation and taxation for a start. We need to show fortitude in the face of adversity.

 I AM ON HOLIDAY THIS WEEK

David Buik

 


Market Commentator – Panmure Gordon & co
+44 (0)20 7886 2775


Mobile – 0044 7788 144 877


Panmure Gordon & Co


One New Change | London | EC4M 9AF

 

David Buik]]6

Market Commentator

 

D +44 (0)20 7886 2775

Panmure Gordon & Co 
One New Change | London | EC4M 9AF | United Kingdom
www.panmure.com

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