It’s after 3 in the afternoon, and already it’s getting dark on the streets of London.  The streetlights are starting to go on in Muswell Hill.  I’m sitting in the John Baird pub, named after the father of television, John Logie Baird; Alexandra Palace broadcasting centre is nearby.  Free wifi, pork scratchings and a pint of Weston’s cider all help to lift the gloom.  If only that were true of the UK economic situation.

The Times has several gloomy pieces today on the employment outlook.  Some developments are long overdue, eg. the Woolworths closure, which should have happened 20 years ago - tired general merchandise format, undersized stores, and no consistent, credible market offer. Others are due to the credit crunch.  Banks are daftly shortening overdrafts to good businesses, and turning down profitable loans, because their bosses are embroiled in a crisis of fear and confidence.

The government and the various regulatory institutions are caught on the multi-pronged horns of dilemma. Moral hazard from propping up businesses that otherwise should be allowed to fail (which leads to further recklessness), unfundable banking guarantees, the bizarre possibilities of deflation and rampant inflation both being consequences of the situation and the counter-measures.  Who’d want to be in government right now?

After some initial enthusiasm for the steps taken by Gordon Brown’s Labour government, there’s an increasing sense of panic here.  Or not, if you believe what the contrarian investment community are saying.  In other words, it’s all very confusing for the average punter. It seems a far cry from my enthusiasm for the UK economy at the start of the year.

And yet, someone’s just rung me about a business opportunity here; probably not my cup of tea, but that’s not the point.  Life goes on. The gloom outside means it really does feel like Christmas for this British-born lad, and Christmas is a time of good cheer and hope. Your enthusiasm for opportunities in business everywhere should remain undiminished; it’s just a case of spotting and seizing the right one for you and your business.

Right, must be time for another pint. Cheers!