The term “irrational exuberance” derives from words that Alan Greenspan, then chairman of the Federal Reserve used in a black-tie dinner speech in 1996. Fourteen pages into this speech, he posed a rhetorical question: “But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions ……………………..?”

Immediately after he said this, stock markets worldwide tumbled in value. 

The term irrational exuberance became Greenspan’s most famous quote, out of all the millions of words he had uttered publicly and the term is now often used to describe a heightened state of speculative fever. I have chosen this phrase as the title for my post because many people will know instantly from this title what this post will be about. (more…)

Sharp’s Brewery has certainly come a long way in 16+ years. Started up as a hobby by local businessman Bill Sharp; the Rock, Cornwall – based brewery has moved from micro to regional brewer in less than a decade. 

It now brews 75,000 barrels of cask beer a year. It is one of the fastest-growing breweries in Britain and has long left behind the status of a micro. It is, indisputably, a regional company, until recently vying with St Austell Brewery, as the biggest producer of cask ale in Cornwall. Sharp’s is still on the same industrial estate it started on, but now occupies most of it, not just one small building.

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I read this week in the Morning Advertiser with heavy heart that Greene King has sold the former Hardy’s and Hansons Kimberley Brewery in Nottinghamshire for an undisclosed sum. Greene King acquired Hardy’s and Hansons in 2006 and shut the brewery at the end of that year.

There was never a chance that brewing would ever take place on the site again but having now been bought by the Leicester-based Alif Group ahead of an auction due to take place; my guess is that it will simply become a vast store for this bathroom wholesaler.

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I have a cold and sore throat. It hit late Friday and has made me feel a bit off, by no means ill; just lethargic. Also like the rest of the country; the ground here on the Fylde Coast is frozen, including rugby pitches, which means no match for ‘The Fylde Express’, that’s Alex my 11 year old son, at his school, Kirkham Grammar   

What all the above means is that I had a free Saturday at home; the first for ages, as not feeling well enough to venture out properly or work and with no Dad’s taxi service required I have been able to catch up with the papers and news.

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The Taps   is not so much a pub as an institution. It’s located in the centre of Lytham, behind the Clifton Arms Hotel. Originally ostlers’ cottages, today it is a one room bar operation with traditional wood flooring, beams, coal fires and rugby union memorabilia around the bar.  Outside there is seating in the back yard which is affectionately known as ‘the Yard of Ale’! 

There is no music, juke box or TVs to detract from conversation and the sing-alongs which take place around the piano. It opens all day, every day and homemade food is served at lunchtime from a limited menu.  Children are welcome until 2pm and dogs only outside on a lead. The main claim to fame is eight regularly changing real ales.

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