Archive for August, 2008


More blue-sky thinking from the Bank of England today when they referred to the possibility of a couple of quarters of ‘negative growth’. This, my city friends, is what the rest of us call ‘decline’ or something ‘having gone to shit’.

It’s ok… you CAN say the word ‘decline’ – you’re fooling nobody in avoiding it though your chosen terminology does tend to fill me with ‘reverse joy’.

L

I’m guessing I’m not the only one who finds the term Credit Crunch to be mildly irritating – these days it seems even economic deterioration has to be sexed up to make us care. I am therefore working on a series of alternative (but hopefully just as, if not more snappy) titles for the current financial situation and invite your submissions.

BankWank

MoneyMania

FuelFelch

Oh and please don’t encourage me to mention that as a nation we would have about another 50-100bn ‘in the bank’ if we hadn’t spent it on an oil-fuelled war that’s driven up oil prices, increased inflation and pushed us into recession in the first place… well, along with responsible mortgage lenders giving 467% mortgages to anyone with a salary of 11 pence a year that is…

Still – at least i’s made the world a safer place…

L