The UK budget and FTSE 100 - up 0.91%

The UK budget seems to have been generally liked even though it is quite hard if you were heavily dependent on benefits. The FTSE 100 ended the day up 0.91% on the day. I think it will take several days before people properly understand the full implications of the budget. There are quite a few hidden tax rises as well as some tax changes which reduce income tax for some.

China - worse than Greece?

We should be afraid of what is happening in China. There, stock market losses are huge in the last month and these will affect China and the West. The article linked shows parallels with the 1929 Wall Street Crash. Worrying. With Greece and China the world is facing another financial crisis.

See http://www.bbc.co.uk/news/business-33440565 .

FTSE 100 recovering?

OK, this is just a snapshot and all could change, but at the moment the FTSE 100 is up. I guess the real turbulence will be after Sunday when the situation with Greece becomes clearer. Clearly the countries in the Euro are doing everything to keep Greece in the Euro, but the Greeks are not wanting to play ball" and want things on their terms. Tax avoidance and possibly corruption seem endemic in Greece. Things have to change or they will be on their own again.

Thunderstorms in UK

At the moment the nearest thunderstorms seem to be in the east of Germany and in the Alps, with none in the UK.  Of course, this situation can soon change although it is definitely cooler here today with the winds more from the north. It is probably 8-10 deg C less here than a week ago.

See http://www.lightningmaps.org/realtime?lang=en .

FTSE 100 - on the slide

As I write this there is great uncertainty over Greece, which rejected the latest financial rescue package at their referendum last weekend. The FTSE 100 share index fell quite a bit today (down 1.58%).  It looks increasingly likely this "Greek tragedy" will end with Greece defaulting on its debts and leaving the Euro and possibly the EC.  The financial markets will be hard hit especially in those countries that use the Euro. A last minute deal is still (just) possible but I think the markets have assumed Greece is out. Certainly the European finance ministers and heads of government have run out of patience. If Greece leaves the Euro many nations will be impacted, not least Germany that stands to lose an enormous amount. For the Greek people, the future looks very bad for many years. No doubt they will eventually bounce back, but they risk civil war in the meantime. No, this is a real crisis for all of Europe.

See  http://www.bbc.co.uk/news/business/markets/europe/lse_ukx .

Egypt's disgrace?

A replica of a world famous statue of Queen Nefertiti of Egypt has (rightly) caused outcry. The locals think it  is amateurist and downright ugly.  Even I could have done better. The statue has now been removed. I hope they manage to replace it with something decent.

See http://www.bbc.co.uk/news/blogs-trending-33411219 .

Very old films now available on the BFI website

Since lunchtime the BFI ( British Film Institute) has made available online, many digitised old home movies, some of which are well over 100 years old.  Incredible.

See http://player.bfi.org.uk/new/ .