Up early listening to news of the underwriting by the UK government of the BP flotation, which is a compromise, and then planning our week ahead; which will include two more days in Disneyland, one in Knott’s Berry Farm, a combined day at Universal Studios/LA Zoo, half a day at Marineland and I also want to see the South West Museum, where the Indian heritage is to be seen. Today we visited Knott’s Berry Farm for a long day of thrilling rides, refreshments and distractions but came home before the Halloween evening display to keep our body time clock settings
At about 4.00am, the children and I were awake, having spent the previous 8 hours sleeping. After all, it was the equivalent of midday. By 4.30am, the whole family were awake and Di was making us morning drinks. Della was coughing well last night, but just seems to have a heavy cold this morning. I have settled into the habit of watching the ‘Ag News’ on channel 4, which is a sort of early morning Farmer/Businessman financial and commodity news programme. It seems to suit our odd hours! The news is of a better day on the world’s stock exchanges. The British Government confirmed the BP sale was to go ahead, but took a positive decision to underpin the share price by deciding that the Bank of England will buy back any at Thursday’s price levels, should institutions wish to sell, for a few months. This allows the US institutions in particular, but also others, to hold on to them, hoping for better times.
In the alternative and, to avoid further risk of price falls, they would have to sell up immediately, rather than keep them, as no other institution would wish to buy at current prices. It all represents, however, a blow to the Thatcher policy of free market forces and an end to privatisations for a year or two, which is a blessing. With a period of financial calm, we now wait for next Monday’s cycle and the refinancing of US debts on the bond markets next week. With a falling dollar, many overseas financial banks may prefer to give the US a wide berth for a while. Then the next few weeks will see if Reagan and Congress can reach budget agreement on the deficit. Meanwhile, the dollar’s fall should aid closure of the US trade gap by trade volumes changing, even if the Conservatives will be frightened to death of inflation, it is the better evil to that of higher interest rates. Reagan has presented his next choice for Supreme Court Judge, after Bork was rejected. It is another hard-line conservative and so a further battle with Congress is in store. In boxing, UK’s Lloyd Honeyghan lost his title in a bad-tempered and poorly refereed fight and also other fights took place. We planned some of our week’s itinerary today, which will include two more days in Disneyland, one in Knotts Berry Farm, a combined day at Universal Studios/LA Zoo, half a day at Marineland and I also want to see the South West Museum, where the Indian heritage is to be seen. We decided on a visit to Knotts Berry Farm today, but first went to our Coco’s family restaurant for breakfast. Della started the day a little uncooperative, but steadily improved as the day went on. Back to the hotel for an hour and then off to do some petty shopping in a food store along Harbour Bld. We bought soft drinks, some popcorn for the children and more snacks for later. The drive to Knotts Berry Farm was quite easy, but we only got there at 10.30am. Once in, we started with watching a live stunt act in the circle-of-wagons enclosure, then walked through the Ghost Town. The Knott brothers took 20 years to assemble this collection of old buildings and erect them here as a tourist attraction. A long day of thrilling rides, refreshments and distractions, until I was quite tired and relaxed in the sun on a bench, listening to country music. We all bought sun hats, as the temperature was in the 70degF and the sun was shining warmly. We ended the day with a Mrs Knott chicken dinner, which we ate in the car before driving home. The children to bed at 6.30pm again and then Di and I followed within ¼ hour. It is the eve of Halloween tonight. Knotts Berry Farm, like other attractions, had a special night-lit session this evening, with everybody dressing up. We do not join in the endeavour, as we wanted to stick to our compromise over time zones.