Scotland, Kilts and Fitba’, has the world gone mad?“We’re on the march wi’ Ally’s Army… we’ll really shakeem up when we win the World Cup…”The world has gone mad, but fear not, Scotland qualifying for the World Cup will trigger growth, prosperity and happiness (for a wee while – 3 games I expect). The imminent launch of Scottish KILTS bonds will open a Pandora’s box of difficult questions.Forget the impending bubble pop in AI. Fear not the loomingcredit bust that is Private Credit. Be unconcerned about Japanese bond yields starting to spike. Sleep sound as bitcoin proves as hollow, pointless and scammy as I always said it was. Ignore the possibility a global inflationary impulse is about to sink bond markets triggering global market mayhem. The clearest signs yet of absolute irrational market exuberanceis about to hit are to be found in two improbable things before breakfast: Scotland has qualified for the World Cup next year – 47 years after the greatest World Cup goal in the history of the Galaxy,Archie Gemmill vs Holland in the Argentina World Cup, and 27 years after Scotland had the temerity to score vs Brazil in the 1998 cup (I was there), finally there is a chance Football will be coming home to where it belongs… Hampden. Even more improbably…. my team, Heart of Midlothian, (The Jambos) the perennial10th best team in a two-team league, isleading the Scottish Premier League, and hasn’t lost a game this season! They are 7 points clear of the mighty Celtic. And to cap it all, Scotland nearly beat the magnificent AllBlacks last weekend at Rugby. (We won’t mention how they snatched a humiliating defeat from certain victory against the Pumas on Saturday.) What has this got to do with markets you are thinking? LOTS.. lets talk about KILTS.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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