HindeSight Investment #106 December 2023 - Newsletter & Podcast - READ HERE
Check out our new podcast version of the newsletter this month.
CONTENTS
OVERVIEW
INVESTMENT INSIGHTS
PORTFOLIO UPDATE
HINDESIGHT DIVIDEND UK PORTFOLIO
OVERVIEW
“Population, three rather mangy cows, a dachshund named Colin, and a small hen in its late forties” was how Edmund Blackadder described ‘Dunny on the Wold’, a ‘Rotten Borough’ in Suffolk during the time of George IV, the Prince Regent in the early 19th century.
The only actual human who is the sole voter in the borough, sadly dies, by accident, by brutally cutting his head off while combing his hair and the ‘Adder Party’ replaces him!
Of course, the TV series depicting this farce has its origins in the actual misrepresentation of electoral districts and population, including corruptible ‘rotten boroughs’ prior to the first ‘Great Reform Act’ of 1832, from when MP’s, representing a much changed spread of constituencies were selected to be in power at Westminster. Despite resistance from the landed gentry, the threat of civil unrest and even revolution, seen just a few decades previously in France, the newly elected Whig government, led by Earl Grey saw the act come to fruition.
The first Reform Act, naturally, had its faults with the formal exclusion of women from voting and the property restrictions meant that the working classes were mostly side-lined, but it was a significant change and over the next century, countrywide adult suffrage was achieved and the political system we have today as a result.
In most countries, the make-up of the political powers are seen as a spectrum from left to right, (wing) with references to far and centre and all the connotations that we have ‘embraced’ over the last century.
In fact, the origins of the political ‘left’ and ‘right’ were actually to do with physical directions. The 1789 French National Assembly, the parliament formed after the French Revolution saw the seating positions relative the speaker of this assembly refer to the right-hand side (le cote droit) and the left-hand side (le cote gauche). Sitting on the right, saw the nobility and more high-ranking religious leaders, with more reactionary views, traditionally conservative while on the left, sat the commoners and less powerful clergy with more radical views and more pro-middle class.
As we enter 2024, the coming government elections in both the UK and the US will be a growing focus and God help us. In the US, it seems mind-blowing to any sane person, that it looks to be a re-run of Trump vs Biden. The recent events in Colorado and Maine with Trump being struck off the ballot also make a mockery of the 14th Amendment that they claim to justify these actions. In the UK, the two parties, Labour and Conservative who most wouldn’t employ to wash their car are the only contenders. But, because of the voting systems, (first-past-the-post) there is an almost certainty of a majority government and freedom to rule, with whatever, typically un-thought through policies they choose to enforce.
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