A happy,prosperous,peaceful and above all healthy New Year to one and all when it comes.
Wednesday, 31 December 2008
The last sunset of 2008 with Wilf and Digby centre stage
A happy,prosperous,peaceful and above all healthy New Year to one and all when it comes.
Labels:
Hogmanay,
polish lowland sheepdogs,
Wilf and Digby
Getting ready for the New Year
Labels:
New Year,
polish lowland sheepdogs,
Radio Subasio
Tuesday, 30 December 2008
Digby and Wilf: Exhausted Polish Lowland Sheepdog brothers after a thirty minute walk in the olive groves
Orvieto was humming
Got the ball. I'm happy.
Monday, 29 December 2008
Foligno and an excellent restaurant Villa Roncalli
Most importantly there is Villa Roncalli. a simply excellent restaurant run by a lady chef whose husband runs Vissani outside Orvieto on Lake Corbara-reportedly one of Italy's top three restaurants.Villa Roncalli has a stunning wine list with a low markup and a menu that chanes every day . A meal in Villa Roncalli will cost you 50 Euros a head all in whereas Vissani will probably set you back three or four time that by the time a decent bottle of wine is included.With the pound hitting near parity with the Euro our trips to Vissani are likely to be limited!
Where's the snow gone ?
Ball games in the snow ... heaven!
Sunday, 28 December 2008
Polish Lowland Sheepdogs enjoying the snow
Gain shall take the place of loss (part 4) Towards Socapism and a W shaped recession
Musings on the economy - Towards Socapism and a W shaped recession
So Japanese output of automobiles is down 40% in four months.These are levels of manufacturing contraction not seen since the late 1920's. Production will probably stabilize and then bounce back by mid next year but the impact on industrial investment plans in 2009 and the first half of 2010 will be dire. Replicate Japan's economic woes in the automotive and consumer sectors in Europe and the US and it becomes clear that 2009 will be a humdinger of a contraction.
There seems to be one overridingly positive piece of news as we enter the New Year. Governments have saved the banking system. That isn't to say there won't be more pain to come in the next two years as credit card, mortgage and consumer loan defaults sky rocket - but the system has survived. What has emerged is that the landscape of banking has changed as a result of the government involvement, perhaps for ever. Nor is the process over. As the severe economic cycle works its destructive way through consumers balance sheets the British government and others in Europe and Asia will probably have to fully nationalize some of the banks they have taken a stake in this year. We may be entering a new era of 'socapism' where social concerns and capitalist practice are wedded together through directed lending to deserving industrial and consumer causes. The thinking of society at large seems to be moving in this direction - Deutsche Banks Chairman found himself embroiled in a public dispute with a German Bishop this week over excessive greed in the banking system. The problem is that the scope for corruption in a politically managed finance system is huge - too many party donors may find access to capital easy while political opponents of the government find it impossible. For a good example of this process in action look to Russia.
It is the larger economy that remains troubled. Very low interest rates and a fall in the price of gas at the pump are putting money back into consumers pockets in the short term. This may make the initial recessionary fall shorter and less severe than it might have been. At the same time it's easy for governments to print money to revitalize economic activity. It's more than likely that markets will breath a huge collective sigh of relief when President Obama unveils his $1 trillion stimulus package , but then what? When it comes time to take this vast amount of fresh cash out of the market interest rates will have to rise,sharply,otherwise we may face hyper-inflationary forces within two or three years. In the US and the UK the huge budget deficits that have been run up will soon drive borrowing costs higher bringing a close to the refinancing boom and driving housing markets lower again. Commodity prices will likely surge again as emerging markets gear up for what seems set to be a brief recovery. As rates rise the companies that have been kept afloat by low borrowing costs are going to find that the lean times have returned.This is when the second, and more painful leg of the downturn kicks in as part of a W shaped recession.
So Japanese output of automobiles is down 40% in four months.These are levels of manufacturing contraction not seen since the late 1920's. Production will probably stabilize and then bounce back by mid next year but the impact on industrial investment plans in 2009 and the first half of 2010 will be dire. Replicate Japan's economic woes in the automotive and consumer sectors in Europe and the US and it becomes clear that 2009 will be a humdinger of a contraction.
There seems to be one overridingly positive piece of news as we enter the New Year. Governments have saved the banking system. That isn't to say there won't be more pain to come in the next two years as credit card, mortgage and consumer loan defaults sky rocket - but the system has survived. What has emerged is that the landscape of banking has changed as a result of the government involvement, perhaps for ever. Nor is the process over. As the severe economic cycle works its destructive way through consumers balance sheets the British government and others in Europe and Asia will probably have to fully nationalize some of the banks they have taken a stake in this year. We may be entering a new era of 'socapism' where social concerns and capitalist practice are wedded together through directed lending to deserving industrial and consumer causes. The thinking of society at large seems to be moving in this direction - Deutsche Banks Chairman found himself embroiled in a public dispute with a German Bishop this week over excessive greed in the banking system. The problem is that the scope for corruption in a politically managed finance system is huge - too many party donors may find access to capital easy while political opponents of the government find it impossible. For a good example of this process in action look to Russia.
It is the larger economy that remains troubled. Very low interest rates and a fall in the price of gas at the pump are putting money back into consumers pockets in the short term. This may make the initial recessionary fall shorter and less severe than it might have been. At the same time it's easy for governments to print money to revitalize economic activity. It's more than likely that markets will breath a huge collective sigh of relief when President Obama unveils his $1 trillion stimulus package , but then what? When it comes time to take this vast amount of fresh cash out of the market interest rates will have to rise,sharply,otherwise we may face hyper-inflationary forces within two or three years. In the US and the UK the huge budget deficits that have been run up will soon drive borrowing costs higher bringing a close to the refinancing boom and driving housing markets lower again. Commodity prices will likely surge again as emerging markets gear up for what seems set to be a brief recovery. As rates rise the companies that have been kept afloat by low borrowing costs are going to find that the lean times have returned.This is when the second, and more painful leg of the downturn kicks in as part of a W shaped recession.
Labels:
bank nationalisation,
socapism,
W shaped recession
Saturday, 27 December 2008
Learning about blogging
Todi's Roman amphitheatre.
The winner of the truly indestructible dog toy award is ...
In the top picture Wilf is seen getting up close and personal with 'Real Mad Cow'. Produced by a company called FAT CAT. inc these toys are made out of really robust sail cloth and are excellent for tug of war games. They do have a slightly oriental aspect to their design which makes me think they must be produced by a labour force in the Pearl River Delta with no comprehension of the end use of their product. However, they are more than up to the job. We bought the first one two years ago and with the exception of some small holes where canine incisors have been working hard it has remained intact.
My favourite however is seen being modelled by Wilf in the second photo. This is a snow goose made by Best Friends Pet Products. These toys are smaller than the FAT CAT ones and are made of a soft, fluffy material. Their great advantage is that they fit perfectly in the mouth of a Polish Lowland and will be carried around all day by a heartily contented dog.The boyz love them and have played contentedly with the latest acquisition over Christmas with no sign of distress apart from a build up of saliva on the body of the toy !
The only design flaw, in both products, is that the squeaker on the inside quickly gets destroyed. From an owners perspective the absence of the irritating squeak may not be that much of a negative.
At the presepe Digby the Polish Lowland Sheepdog meets a camel - and doesn't like it.
At this time of the year the village of Marcellano is given over for a week to a presepe vivente or living enactment of the nativity. Many of the townsfolk take an active part in the affair ( a sense of community and civic pride is still alive and thriving in Italy ) dressing up in costumes, cooking at outside tables and shepherding the flocks of tourists who come to see the event. This is a big affair by Umbrian standards and realism is enhanced by the presence of a real ox, ass and camel. When not performing the camel is billeted on the local sports ground. This morning on our early morning ramble with the boyz we stopped off in Marcellano to see what it looks like the morning after. All was going well until we turned a corner and came face to face with the aforementioned camel wandering across the football field. Wilf was as usual oblivious to everything - but his little brother was petrified at the sight of this large hairy, fierce looking , and doubtless very smelly dromedary bearing down on him from between the goal posts . He became frozen to the spot and the stunned look on his face seemed to say 'yikes! they don't have dogs that big in Scotland - get me away from this place - now! '. No amount of coaxing would spur him on so in the face of fearful PON obstinacy we retreated to the safety of the car and home. What a brave dog!
Friday, 26 December 2008
Polish Lowland Sheepdogs in a gale : The aerodynamic qualities become apparent.
Cold. What cold ?
Thursday, 25 December 2008
Wednesday, 24 December 2008
Christmas Eve in Todi
Christmas Eve is celebrated here with La Vigilia - a meal of multiple courses. Some say there should be seven courses for the seven sacraments, others say nine for the Trinity multiplied by itself, while most commonly around here people say there should be thirteen courses representing the twelve disciples and Jesus.Thankfully most of the courses are small so this is not the weight gathering exercise it sounds. This year we have decided to be lazy and farm out the preparation of the meal to the local fish and pasta shops. The fish shop is producing a variety of fried and roasted seafood courses including sea bass, halibut and the ever present fried baccala while the pasta lady is making the local ravioli and lasagne dishes. All in all it sounds like a very upmarket takeaway. The only downside is that none of this will be ready for collection until eight o'clock, so allowing for Italian time keeping it will probably be nine thirty before we get it all home.
The day has seen a host of visitors come past to wish us seasons greetings. Just before lunch the cleaning lady came along with her husband and children, then Enrico the gardener with his cousin, then the the local farmer with some bright orange cachi - these we think are persimmons but have absolutely no idea what to do with them as they are unheard of in Scotland. Perhaps most surprisingly of all the local hunters who traipse across the fields showed up with a cooked rabbit .We disapprove of hunting but the cacciatore are part and parcel of Italian life and brave is the landowner who tries to stop them crossing their land. All visitors have had a glass of prosecco and the children have been given packs of British sweets (how exotic bars of Cadbury's Turkish Delight can appear in Umbria) and crackers to take home.
Tomorrow snow is forecast but if the road is clear we shall probably head off to the cathedral in Orvieto and then take in some of the presepe in the villages on the way back.The Turkey and pudding will be on the table by four.
Digby discovers edible Christmas cards
I know nothing about Portugese music - indeed I know little about Portugal having only been to Lisbon once. However, last night we heard the most enchanting piece of organ music 'Glosas sobre el canto llano de la Immaculada Concepcion' by Francisco Correa de Arauxo. I would guess that it's sixteenth century but could be quite wrong. It has an exuberance and vivacity that is quite alien to anyone brought up in the Presbyterian tradition. One of the great joys of living in Europe is that new canons of experience and discovery are just there for the asking.
The most important Christmas task is now accomplished - the buying of the wine and champagne. This year we are trying the rose and brut made by Cantina Novelli. This is the first year they have branched out into the field and I shall try a bottle at the first opportunity. This morning I asked the manager if they had installed a new line for the sparkling wines.He said that they ship the freshly pressed juice to a vineyard in Alsace who then bottle and ferment it before transporting it back.
Tuesday, 23 December 2008
Snow is on the way
Guard duty
After a restless, owl serenaded night, woke to a bright pink sky flooding into the house. Fog had settled with the top of the clouds twenty or thirty feet above us. By breakfast time the rising sun was colouring the fog the most stunning crimson.I had always thought that Scottish light with its clarity and softness was without comparison but the hill light here with its Mediterranean tones is equally compelling.
Hope to go to Assisi today but we are still waiting for Fortnums to deliver the Christmas cake and pudding. A terribly nice man from their packing department phoned to say they had tracked down the parcel and it would definitely be delivered today. We shall see. Better late than never.
Monday, 22 December 2008
Italian wine - the bible of guides?
Now that we're living here it seems as if Italy produces a near infinite varieties of wine - many of which never seem to leave their native land. Some of these wines are justifiably best left undiscovered while others are absolute gems. We've found the Gambero Rosso Slow Food guide to Italian wines to be absolutely indispensable when it comes to chosing what to buy. Until recently it was almost impossible to find a copy of this eloquent guide outside Italy but in the last couple of months I've noticed a copy in Hatchards in London and Brentano's ( I think ) in New York.
It was in the Gambero Rosso guide that we first came across the wines of Josko Gravener. Produced in Friuli these wines are aged in amphorae , as they would have been thousands of years ago ,and are a conscious attempt at reproducing natural wine as it would have been. Only 39.000 bottles are produced a year - a very low yield from the 18 hectares under production. Romes' best fish restaurant serves it as does Villa La Massa outside Florence - otherwise it remains largely unknown. When living in Scotland we were able to order it through a merchant in St.Andrews who was importing Italian wines directly.
The language in the guide is distinguished - I could spend all day reading the description of the vineyards up and down the country. Our local wine is Sagrantino and the Perticaia cantina produces one of the best. Writing about the Perticaia Montefalco Sagrantino 2004 the guide says : " the variety is stunning for its bouquet, packed with blackberry tightly wrapped in pungent,balsam-like medicinal herbs and lush spices. The palate fulfils that promise : spacious and deep,dense packed yet dynamic, with an ultra-luxe skein of tannins. Still young of course, it will reveal its true soul down the years ". Wonderful wine , glorious description.
Sunday, 21 December 2008
Spoleto - the perfect hill town? Part 2
Our favourite restaurant in Spoleto is the Apollinare located in a 12th century monastery facing the ruins of the roman amphitheatre.The food there is some of the best to be found in this part of Umbria and the wine list although short has some interesting choices. A good alternative is the family run restaurant on the market square. This is well worth a visit in summer amid the hustle and bustle of the market stalls and shops. Friends have stayed in the Villa Milani on the outskirts of town which has the benefits of commanding views of Spoleto and ( a must in the summer ) cool terraces and carefully maintained gardens but it is a twenty minute walk from the sights and the shops. In the centre of town there seems to be a dearth of anywhere memorable to stay but we've heard from someone who stayed there last summer that the Hotel Palazzo Leti is interesting.
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