Wednesday, January 14, 2009

Battle of the Titans.

Some politician once said, "Its the economy, stupid."

Well, that does set me wondering what is going on? I mean here we are in the "Credit Crunch" and jobs are disappearing like snow in a heatwave. Were I still working I'd be worried, - very worried. But I am retired and living on a modest pension, no fortune by any measure, but it is enough to stay alive. When I retired I used my lump sum to get rid of the mortgage and pay off all my credit cards and subsequently tear them up.

When I listen to the news on good ol' Radio4 I here about struggling banks and about unimaginable billions of pounds being pumped into them by the Government. Maybe they need to do this, I don't know. I can't say the language of high finance is all Greek to me because I can just about manage that. I mean think about it, a hundred billion pounds. Let's look at it as an unabbrieviated figure.


My weekly pension is a billionth of that.

Surely these magnates of finance could see all this coming? They were dishing out credit to all and sundry regardless of whether or not the borrowers could afford to pay it back. It had to end in tears.

Now the mighty captains of finance fight among themselves for survival. They remind me of a picture of two giants fighting, I think it was by Goya but at their feet there is a small figure scuttling away for cover. At the moment, I and quite a few others I am sure, feel like someone crouching at the dyke back* waiting for the storm to abate and hoping it doesn't get to them.
Many's the time in my younger days I've been out on the fells when a storm broke and the only shelter was to crouch in the lee of a drystone wall until there was a sufficient break to enable me to bolt for home. Let's hope none of us get too wet.

* A dyke back is a Northumbrian term meaning behind a drystone wall.

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