Credit Crrrrunch

October 12, 2008

I must admit I don’t know much about the credit crunch. My girlfriend has just started buying the FT, and I occasionally read an article, but that’s about it. What I have realised though, is that lots of people who were supposed to be sensible, were in fact absolute fucking idiots.

Take my local council, Haringey. They’ve apparently got £40 million in an Icelandic bank that has just gone tits up. Since when does Haringey council have 40 million quid? Last time I checked they were basically skint. And what the fuck were they doing putting the money in a foreign bank for? What’s wrong with a local bank? Last time I checked Haringey was full of banks. Yes, I know we live in a globalised economy, but it’s not their money to be fooling around with – it belongs to the taxpayer. I’m not expecting them to play the stock exchange and return bearing diamond encrusted plaques for the borough’s primary schools, I just want them to put the money somewhere safe and the spend it on public services.

Throughout my youth, Haringey council didn’t have a pot to piss in. My local library was open two days a week, for four hours a day. The streets were swept whenever they could rouse the cleaners. And yes, in recent years things have improved, but I’m still somewhat amazed that humble old Haringey has the chutzpah and vision to start investing millions in Iceland.

Aside from that, I remain stoicly unaffected by the global financial meltdown. In fact, the whole thing is quite surreal. I can’t quite get my head around it. It’s like someone sneezed, opened their eyes, and suddenly all their money’s gone. And then it turns out that they didn’t have the money in the first place, they had borrowed it off a mate, who had nicked it off his mum, who was lent it by her aunt, who had pawned some jewellry. And now she wants to get her jewellry out of hock and everyone’s shitting themselves. It’s lunacy.

Oh, but it does allow my friend Rhodri to start a credit crunch photo meme:



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