Hang on a minute. I'm still here, you're still here. We still buy things which are expensive but affordable if you're careful about what you buy. Petrol's gone down in price. What's the problem?
I tell you what: The "misery" isn't in the supposed "crisis" that we're in. It's in the constant barrage of media hype that we're bombarded with day after day. I've been checking on its progress on Reuters. How long has the so-called "credit crunch" been the headline? Three weeks, a month?
But why? Have people stopped starving in the nation's poorest countries? Are the various altercations around the globe in a state of suspense? Is there no good news to report? (Don't tell me the standard line that no-one's interested in good news. This mentally disturbed minority are the sort who watch EastEnders and Celebrity Love Island, listen to vacuous music and use the word "cool" as if it actually means something. Enough said.)
Is it really such a bad a situation that everything else in the news has to be put on hold? Is it not suspicious that the term "credit crunch" is coined, and soon afterwards referred to as if it is real? (Credit to Channel 4 News last night, who ran a fascinating and off-beat cultural story about Lucian Freud campaigning to save a Titian painting.)
What is a "credit crunch", and where is it defined? If it is defined, was it defined by experts in the field - economists, philosophers, mathematicians? Somehow, I don't think so. If it were, then it has been very carefully hidden. Frankly, I find the politicians who must have come up with the idea laughable, and I find the people who are taken in by it laughable. I have to, because if I didn't laugh then I'd be depressed, which incidentally is what the people who make money out of market turbulence would like me to believe is happening to the economy. No doubt, that is the real reason for the invention of the term "credit crunch".
What a crap state of affairs that, not only does the news spread this tripe as if it's the end of the world, but people actually buy it, in more ways than one. Where's George Galloway when you need him?
- - - - -
Update (30.10.08): Today's Reuters front-page headline mentions rising fears about the economy. Perhaps, just perhaps, media propaganda such as that same article might have something to do with it. Hmmm.
6 comments:
I think you'll find a definition should you be in a position where you need to sell your house, and suddenly find it's been massively devalued to banks being unwilling to lend to prospective buyers.
Why would you be in the position of needing to sell your house, you ask? Maybe because your employers, suddenly finding it difficult to raise money from banks to fund their ventures find themselves needing to cut excess staff in order to survive...
Can you please point out the source of this definition? Also, exactly what is it supposed to be a definition of?
Or would you be doing the devil's work by inventing definitions on its behalf?
Houses being devalued is not a definition, though it is a symptom of something fairly incidental that has happened, along side the ficition of the newsheadlines.
Houes prices were so massively inflated that this is only fair.
Many greedy pigs who own many houses were trying to buy up all houses to rent, stopping actual people who work hard from affording a house...lets hope house prices continue to fall, and the capitalist devils sell their investments for pennies so that hard working people can afford a house. If you just need somewhere to live, you dont care about the drop in price because you live there and arent going anywhere. House prices only effect the investment devils. And if there was a real crisis, we could at least look forward to executing them outside the Bastille
Someone might comment that with lower house prices, scum might move into your area and that is bad. Well for one I would love to hear the Government admit this. Second, look around...everyone is scum anyway!
Have you been to any town in the UK recently and noticed the super-cars outside of shit-hole rundown terrace houses? People are criminal scum anyway. They clearly get money from somewhere and apparently don’t choose to spend it on a house, so you are ok for now. Else, from the other perspective, there are no decent people any more, they ran of to France and the Ukraine years ago. There are no honourable middle classes.
If you are a decent educated person living alone, chances are very likely that you can afford to just rent a flat in a town centre...that will be a hell unless you have good sound proofing and a good security system, bad people dominate everywhere. Let's form a middle class co-operative to raise money to get all the decent people moved out to a collective farm in the south of France to grow grapes for a new type of wine.
Thanks for your comments, Rich. Lowering house prices is also a problem for those who are forced to move house, for example to find a new job after being made redundant due to the recession. Apart from that, you seem to have a point.
Mmm, wine.
Post a Comment