I’m Still Standing, Bowled Over Boris and Failing Banks

I’m still standing.

I’m still standing is a song that takes me back to my younger days. For me it, it represented my ability to overcome major personal, business and relationship challenges, The words of the songwriter relate to?Elton John's successful recovery from a broken past relationship.

Here, he tells his ex that he has moved on and is better off without them. The singer first describes his past lover as a pretentious cold-hearted person who will probably end up revealing their true colors soon.

So, what has a memorable tune got to do with Boris, and failing banks?

Well, if you think about what the song conveys, there are surely many similarities, aren’t there? Failed relationships, true colours being revealed, and bitter words spoken.

At the recent Privileges Committee investigation into whether Boris Johnson misled parliament. Johnson defended himself saying “Hand on Heart that I did not lie” and that he had spoken in good faith to parliament and the events were reasonably necessary.

Some of the arguments presented by Boris were flimsy.

And the opinion of a number of committee members was Johnson did not take proper advice.

You may remember...

Many of the partygate events were held back in November 2021. I particularly recall the events because these were held at a time when my family and I who adhered to the Covid 19 rules and guidance, had not been allowed to visit my mother who was terminally ill. Then, sadly when she died in November 2021 feeling alone and isolated my family were unsure whether we could even attend the funeral to pay our respect.

Touching briefly on the economy and the banking system

The recent failure of US based Silicon Valley Bank, on 10 March 2023 started an unwelcome trend and Signature Bank closely followed on Sunday 13 March 2023.

With interest rate hikes exposing weaknesses in banking policies and procedures the news of the troubled Credit Suisse was released and on Sunday 19 March emergency talks finalised a deal where UBS agreed a takeover offering one share for every 22.48 Credit Suisse shares.?

In the aftermath of this...

I have attended a number of closed-door meetings with major investment fund managers. At these events we have discussed the possible ramifications for the UK and global economies of the bank collapses and what action the Bank of England and the Federal Bank could take to intervene.

Remembering of course that the job of a Central Bank is to control inflation and not the chances of a recession.

The upshot is:

·??????As of 22 March 2023, the Federal bank raised the interest rate in the US from 4.5% to 4.75%

·??????As of 23 March 2023, the Bank of England raised its rate from 4% to 4.25%

·??????The cumulative effect and after shock of COVID-19 when markets were flooded with money, meant there was an oversupply of money at very low interest rates.

·??????We have had 3 years of no real growth in the UK economy.

·??????The tightening of monetary policy means banks will inevitably become more cautious with their lending policy.

·??????Interest rates encourage less borrowing and more saving because it effects the psychology and behaviour of the public.

·??????Like the banking crisis in 1984 when Fed Paul Volker slowed and then stopped raising interest rates and 6 months later lowered them.

·??????Interest rates should be at or near their peak.

·??????Rumours are circulating that the Crypto Bank failures may have started the rot.

·??????We still do not know the real truth behind the state of the banks.

·??????In the US banking regulation is tiered which is unlike European, UK and Japan banks which are fully regulated.

·??????The 2-year borrowing rate on Government debt in America dropped dramatically because of investors fleeing to safe investments.

Despite this...

In my role as a Professional Financial Adviser I have been holding meetings with my clients sharing with them the news that:

·??????Central banks need to do more to manage the economic dynamic and achieve inflation targets.

·??????Considering the recent events, markets have experienced a positive start to the year.

·??????Economies are showing resilience.

·??????Labour markets remain robust.

My forecast

·??????Markets in America are pricing in 3 interest rate cuts this year.

·??????I believe UK interest rate cuts will start to decrease by the end of this year too.

·??????The effect of short-term inflation is not as bad as long-term high interest rates

·??????The impact of a 1% rise in unemployment is 10x worse for peoples psychological wellbeing than a 1% interest rate rise

·??????Continuous interest rate rises precede significant recessions.

·??????Activity data will get worse over the next 3 to 6 months and the UK economy will experience a downturn.

Now I could choose to base the entire content of this newsletter informing you about the economy, banking, and political shenanigans.

The thing is, my aim is to Inspire, Educate and Motivate you, so let’s do that instead.

Going back to my opening gambit of ‘I’m still standing’.

Due to the various injuries, I have subjected my body to over the years, I recently decided to change my working environment and invest in an ergonomic standing desk and chair to improve my posture and help me keep more active during the many hours I spend at my desk. I decided to do this because finding a comfortable position to work in can be challenging, especially when you don't have the right equipment.

Achieving this is especially important because I can spend days at my desk analysing investment fund performance, creating retirement and tax saving strategies and developing business and personal coaching programmes for veterans and business entrepreneurs who are just like you.

Can you keep a secret?

I thought so. That’s why I want to share with you one of the things my team and I have been working on. I am developing a simple, unique, and effective membership site where you can gain access to a fabulous array of quality driven business resources that can help you grow your knowledge, skills, and experience so you achieve even better results in your life and business.

What’s even better is you get all this each month for the price of just a coffee and a snack.

Just make sure you watch out for the release date because I will be promoting the launch here.

Since investing in the ergonomic standing desk and chair I find the time at my desk is more manageable, comfortable, and productive.

This is largely due to the fact I can experience the luxury of an ergonomic height adjustable desk and easily switch between sitting and standing when my muscles and joints need a break.

So, I would like to give you some top tips on why I think an ergonomic desk and chair could be just the thing to improve your performance.

Oh, and even if you cannot stretch to buying a standing desk yet. Here are four simple rules you can adopt to ensure your posture is correct when you use a standard desk and adjustable chair.

·??????Set your chair to a height where your elbows are in a 90-degree position from the floor.

·??????Adjust your computer screen so it is between 20-28 inches away from your face. The screen should also be eye level with a small upwards tilt between 10 and 20 degrees. This is to prevent the need to tilt your neck up or down when looking at the screen.

·??????If you use a laptop for prolonged periods of time, laptop stands are available and separate wireless or wired keyboards which enable you to raise the height of your laptop screen.

·??????Adjust your keyboard and mouse so that your wrists are straight and parallel to the desk to avoid over extension.

The importance of good posture

Practicing good posture is important to keep your bones and joints in alignment. This helps to prevent muscle strain, back and muscular pain.

Using a height adjustable desk helps to achieve better posture when standing and sitting. This is because you can customise the height of your desk to a comfortable height.

Here's 5 top tips to help you stand with good posture:

1.????Stand straight with your shoulders back.

2.????Keep your head level and in line with your body.

3.????Pull in your abdomen.

4.????Keep your feet shoulder-width apart.

5.????Bear your weight primarily on the balls of your feet.

And in case you are wondering, ’How long should you stand at a standing desk.’

Many ergonomic experts recommend standing about?5-15 minutes out of every hour?when using a standing desk, although research is ongoing. One study in the British Journal of Sports Medicine recommends that it's ideal to move, stand, and take breaks from sitting for a total of at least 2 hours in an 8-hour workday.

If you are able use the “20-8-2 rule.”?Sit for 20 minutes, stand for 8 minutes and walk for 2 minutes. Standing workstations are very popular. If you use one, make sure it's adjusted to fit you and don't stand too long. Standing for long periods can fatigue the back and legs, so change your position frequently.

And from a health point - When you stand, you burn anywhere from 100 to 200 calories an hour. It all depends on your sex, age, height, and weight. Sitting, by comparison, only burns 60 to 130 calories an hour. Think about how fast that adds up!

Oh, and just one more thing…

As a Veteran on a mission, I always want to go the extra mile and help 1 million business owners and veterans achieve the financial freedom they desire, deserve and dream of. For every 10 copies of Pathfinder Ultimate Success Programme purchased I am donating (via the charity Transformation for Veterans) a copy of the same programme free of charge, to a veteran so they can benefit from the life changing content too. I believe this is truly a win win. A win for you and a win for our veteran community. Click here to order your copy.

Have a brilliant day #HABD

Joe

Joe O’Connor

PS: This year I’m launching a new monthly programme called ‘Money Mindset and Motivation’ To discover how to start & scale any business, get focused & better financial knowledge, build an on point personal brand & create multiple streams of recurring income, then join the VIP waiting list here to be kept updated on the launch date. BONUS - you’ll be entered into a prize draw for a FREE personal coaching session with me (worth ￡1995)