Newspapers around the world are reporting a global financial crisis. But are we really in the midst of recession?
By Shirley Knott.
‘Credit Crunch.’ Everyone remembers the first time they heard those words. For me, it was sitting at home in the Vac with a bowl of M&S Triple Chocolate Crunch; Mummy was doing the ironing and the television was playing in the background. I looked up from my breakfast to see a story about Northern Rock: a never-ending line of people was pouring into some bank in Newcastle, as I recall. Or maybe it was one of the other nothern towns, I’m not sure. But I remember saying ‘cripes, Mommers, do you think they’ll cancel Loose Women?’
Of course, neither of us really appreciated the scale of the problem at that point. Not only was Loose Women cancelled but a few of our friends at Ascot announced that they were going to have to ‘give it a miss’ this year while they had their accounts checked over. And now, the Telegraph tells us, we’re in the middle of a recession.
The thing is, I just don’t buy it. (Come to that, I don’t buy anything: that’s Daddy’s prerogative. Hope you’re reading Geoffers!) But the idea, I mean. I just don’t buy it. People don’t actually ‘lose confidence’ in a bank, do they?
At least, we never lost confidence in ours. Coutts is doing swimmingly it seems, and so is the portfolio. None of my uni friends seem to be tightening their belts except old Jilly, and that’s because she’s lost another 2 lbs!
Money, at the end of the day, doesn’t really exist. That’s my understanding of it, anyway. Everyone says that we were spending money we didn’t have — credit — but if we didn’t really have it, who did? As it turns out, no one. So if no one is owed money they didn’t have, what’s all the fuss about?
So forgive me if I’m being indulgent but I’m going to carry on shopping at Jack Wills like I always do. I don’t believe in the Credit Crunch: the only crunch I believe in is the Triple Chocolate variety from M&S. God it’s good with Cravendale.
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Comment: A Credit Crunch?
Newspapers around the world are reporting a global financial crisis. But are we really in the midst of recession?
By Shirley Knott.
‘Credit Crunch.’ Everyone remembers the first time they heard those words. For me, it was sitting at home in the Vac with a bowl of M&S Triple Chocolate Crunch; Mummy was doing the ironing and the television was playing in the background. I looked up from my breakfast to see a story about Northern Rock: a never-ending line of people was pouring into some bank in Newcastle, as I recall. Or maybe it was one of the other nothern towns, I’m not sure. But I remember saying ‘cripes, Mommers, do you think they’ll cancel Loose Women?’
Of course, neither of us really appreciated the scale of the problem at that point. Not only was Loose Women cancelled but a few of our friends at Ascot announced that they were going to have to ‘give it a miss’ this year while they had their accounts checked over. And now, the Telegraph tells us, we’re in the middle of a recession.
The thing is, I just don’t buy it. (Come to that, I don’t buy anything: that’s Daddy’s prerogative. Hope you’re reading Geoffers!) But the idea, I mean. I just don’t buy it. People don’t actually ‘lose confidence’ in a bank, do they?
At least, we never lost confidence in ours. Coutts is doing swimmingly it seems, and so is the portfolio. None of my uni friends seem to be tightening their belts except old Jilly, and that’s because she’s lost another 2 lbs!
Money, at the end of the day, doesn’t really exist. That’s my understanding of it, anyway. Everyone says that we were spending money we didn’t have — credit — but if we didn’t really have it, who did? As it turns out, no one. So if no one is owed money they didn’t have, what’s all the fuss about?
So forgive me if I’m being indulgent but I’m going to carry on shopping at Jack Wills like I always do. I don’t believe in the Credit Crunch: the only crunch I believe in is the Triple Chocolate variety from M&S. God it’s good with Cravendale.
This entry was posted on Wednesday, May 6th, 2009 at 7.51 pm and is filed under Comment. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.