The Full English Accompaniment – The Lost Year

We’re almost two-thirds of the way through a year that seems to have disappeared. Memorable for COVID-19, lockdown and, if you’re that way inclined, the fastest bear market and reversal on record. We’re now back where we started in February/ March. Sports, bars and shops are re-opening. US markets are reaching all time highs. Almost like those six months didn’t happen and COVID has disappeared.

It certainly didn’t feel like that working in the NHS in March & April.

I’m finding it quite challenging to reflect on the past six months. It’s been a blur of lurching from hypothetical crisis to crisis in the news, averting potential problems, while simultaneously blending mundane existence. One of the consultants I work with has managed to squeeze in cheap holidays to Venice, France, and now Ireland, completely missing all quarantines. I envy him. Most of us have gone to work, gone to a food shop in a mask, watched Netflix, switched off. I wonder if this is what the routine of dementia-inducing retirement feels like?

The media has been commenting on ‘revenge spending’ – people splurging after they’ve been forced to save by lockdown (1). Apparently it’s driving lots of new car sales (2). Why the hell is it called ‘revenge spending’. “I’m sticking it to the ‘big man’ by dropping 20 large on a new Corsa”. What a load of dung.

Personally I think these are all attempts by people to do things worth remembering. ‘Remember that time we went to Zante during lockdown’. ‘Remember when we came back from holiday on an overbooked TUI flight and everyone got COVID’. ‘Remember when we replaced our three year old car with a new car’. Mentally marking the passage of time with big events.

Others seem to be taking comfort from doing the same old thing. Going to the same places. Visiting favourite restaurants previously shut. Spending £300/month on clothes you wear once (3). Publicly grumbling on an anonymous blog. We take pleasure where we can.

From a ruminative Shrink, have a great week,

News:

Blogs/ Opinions:

References:

  1. https://www.telegraph.co.uk/luxury/womens-style/rise-revenge-buying-means-uk-luxury-retailers/
  2. https://www.telegraph.co.uk/business/2020/09/01/revenge-buying-drives-surge-sales-70-plate-new-cars/
  3. https://www.bbc.co.uk/programmes/m000m4bz
  4. http://www.independent.co.uk/environment/climate-crisis-ice-sheets-melting-global-warming-greenland-antarctic-a9699921.html
  5. https://www.bbc.co.uk/news/business-53995878
  6. https://www.ft.com/content/26b91aac-8c73-44cc-b8d7-1aae371ab951
  7. https://www.thisismoney.co.uk/money/markets/article-8698877/Technology-stocks-hammered-day-two-sell-off.html
  8. https://seekingalpha.com/article/4372406-u-s-stock-market-is-bubble-plain-and-simple
  9. http://www.cnbc.com/2020/09/03/markets-are-facing-a-potential-minsky-moment-collapse-strategist-says.html
  10. http://www.forbes.com/sites/investor/2020/09/03/the-crash-of-2020-into-the-end-game/
  11. https://www.ft.com/content/d8eb62ef-a1cb-4597-867b-15a79dbdcd5d
  12. https://www.ft.com/content/5d6fc188-2b9c-4df7-848e-a6c1795dc691
  13. https://www.theguardian.com/business/nils-pratley-on-finance/2020/sep/03/scottish-mortgage-wont-be-too-bothered-about-the-nasdaqs-wobble
  14. https://www.finumus.com/blog/do-not-currency-hedge-your-equity-portfolio
  15. https://earlyretirementnow.com/2020/08/31/the-half-percent-safe-withdrawal-rate/
  16. https://www.foxymonkey.com/all-weather-portfolio-uk/
  17. https://bankeronfire.com/magic-money-making-machine
  18. https://www.itinvestor.co.uk/2020/09/commodity-investment-trusts-are-all-the-rage/
  19. https://www.firemusings.org/should-we-consider-chunking-up-retirement-into-different-phases/
  20. https://southwalesfi.co.uk/2020/09/04/renting-v-buying-from-a-fire-standpoint/
  21. https://lifeafterthedailygrind.com/best-free-landlord-apps/
  22. https://sparklebeeblog.wordpress.com/2020/09/04/2020-reflections-so-far/
  23. https://theescapeartist.me/2020/09/06/the-what-did-we-learn-from-2020-chat-with-andy-hart/
  24. https://gentlemansfamilyfinances.wordpress.com/2020/09/05/all-time-record-house-prices/
  25. http://eaglesfeartoperch.blogspot.com/2020/09/conservatory-design-build-part-2.html
  26. http://diyinvestoruk.blogspot.com/2020/09/mid-wynd-trust-full-year-results.html
  27. https://indeedably.com/50-years-early/
  28. https://playingwithfire.uk/did-someone-say-coffee-could-you-save-money-with-a-sage-bambino/
  29. https://monevator.com/k-shaped-recovery/
  30. https://monevator.com/annual-isa-allowance/
  31. https://www.onemillionjourney.com/portfolio-update-21-august-2020-105404e/
  32. https://thesavingninja.com/savings-report-26-we-made-it-to-sweden/
  33. http://quietlysaving.co.uk/2020/09/04/august-2020-plus-other-updates/
  34. https://www.thefrugalcottage.com/september-aims-7/
  35. https://obviousinvestor.com/p2p-lending-portfolio-update-september-1st-2020/
  36. http://www.cantswingacat.co.uk/2020/09/02/august-income-report/
  37. https://www.earlyretirementguy.com/september-2020-networth-update/
  38. https://asimplelifewithsam.com/2020/09/05/august-review-2/
  39. https://averagemoneymanagement.wordpress.com/2020/09/05/freetrade-diary-8-august/
  40. https://awaytoless.com/monthly-spending-august-2020/
  41. https://pathtolife2.com/2020/09/05/my-fi-journey-one-year-on-how-did-i-do/

3 thoughts on “The Full English Accompaniment – The Lost Year

  1. Re new car spending, a friend and a colleague have both splashed out on new motors, taking advantage of 0% finance on offer! Neither of them really needed new cars so definitely a case of revenge spending!

    For my part, I’ve just splashed out on a new monitor. My old one is on its last legs and is a little temperamental at nearly 12 years old! However, I was able to purchase it entirely using Amazon gift vouchers I’d saved up so no dent in my pocket!

    It’s been a very strange year – time seems to have both dragged and gone by quickly!

    Liked by 1 person

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