Good morning, it's Paul & Jack here with the SCVR for Wednesday.

Timing - I'm working at a glacial pace today sadly. Sometimes it flows, other days it has to be forcibly extracted! Still, there's nothing else to do, and it's tipping down with rain, so I'll keep writing until about 4:30pm. Today's report is now finished. I'll start off tomorrow's report with the 2 backlog items left over from today.

We're hoping to look at the following results/trading updates today:

Paul:

Foxtons (LON:FOXT) (I hold) - done
Somero Enterprises Inc (LON:SOM) - done
Beeks Financial Cloud (LON:BKS) (from yesterday) - done
Photo-me International (LON:PHTM) - see tomorrow's report
Restaurant (LON:RTN) - placing - see tomorrow's report

Jack:

Kin And Carta (LON:KCT) - done

Fingers crossed we can get through that lot, we've started work on it now!

.


Paul's Section

My thoughts on re-opening & inflation

I tend to be too optimistic, but am still firmly in the roaring twenties camp, where I think enough people could be eager to get out and spend, to boost the economy nicely as this year sees re-opening of the locked down parts of the economy.

However, I’ve also been listening to opposing views, and wonder if I’m possibly too optimistic, based on my personal circumstances (my portfolio has done very well, so I’ve got plenty of money, unlike maybe some other people in more regular jobs).

Listening to the utterly brilliant Grant Williams podcasts (thank you to several readers here who recommended them, they’re terrific. I’ve even paid a subscription to listen to them, something I’ve never done before), last night I listened to one about inflation. Why hasn’t the huge amount of money-printing triggered inflation? One economist that Grant interviewed, called David Rosenberg, was saying that stimulus money funded by QE has generally been used to pay off debt, and saved. He’s referring to USA here, but it’s probably similar here. Meanwhile, he’s sceptical about the re-opening trade because consumers have just shifted spending from holidays, eating out, etc, to buying exercise equipment, revamping their homes, and online shopping. So when re-opening happens, consumers could just shift their spending back again in the other direction - netting off. That’s an interesting idea. It’s not a given that overall consumer spending…

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