A picture is worth a thousand words, so this will shorten today’s post.
Sognefjord is Norway’s longest, 204 km, and deepest, 1,300 metres. The weather did improve and here is another thousand words.
It took 5 1/2 hours in a passenger boat, like the one above which was behind ours, to reach Flåm, passing small settlements and big waterfalls; a tranquil morning, looking at the scenery and watching markets fall as China allows the yuan to fall to a four year low. What does this portend? Coming at a time of weak oil and metals prices it will not choke off Chinese demand for these commodities as much as it would have done a year ago. Furthermore, it will mean Chinese exports are more competitive and so, if the text books are right, domestic growth should be stimulated. It will take time for this to feed through but Chinese growth seems to me likely to be again a driver for international growth. The fly in the ointment, what an odd expression, will be rising interest rates in the developed world. It is perfectly obvious, but I think it needs saying, that this will not be a blight to stock prices across the board. Highly leveraged businesses that have done so well out of low rates will be bitten in the bum unless they have a Plan B up their sleeve. Companies with cash reserves will be able to deploy them investing in businesses that have been caught out without that Plan B. It was forever thus.
Then on by trains to Geilo. On the way there is the best waterfall I have ever seen but I haven’t been to the waterfall dept. in either Africa or America.
We went to Flam! It was lovely and we went up in the train and bicycled down the steepest and stoniest track I have ever been on on a bike. In retrospect we should have walked the top bit as it wore out the brakes on my hire bike which made the rest of the journey rather terrifying. But v beautiful. Some of your photos come out upside down!