Credit Crunch – a father’s view

My dad and I emailed today about money, savings, Iceland and the credit crunch… I loved his insight, so thought I’d share it:

Money’s funny stuff really…………..it doesn’t exist, unlike things!

The government did the right thing though overall for jumping in and nationalising [Bradford and Bingley], although if they had made the £50,000 offer to savers at that time they would not have needed to nationalise it. That’s what they’re doing with banks now, so that the nationalisation only happens if they reach the payout point (I think).

Really, it’s socialism by default [thelayoftheland note – not everyone agrees], which is excellent really. Now if they can re-nationslise the railways, power, and water, we’ll be laughing!!

Mind you, water is owned by the country…………………………………..but it’s France……..whoops. Le mess.

Vive la France eh?

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3 Responses to Credit Crunch – a father’s view

  1. Jujupiter says:

    Oui, vive la France!!

    Some call this new economic “socialism by the backdoor” but some say it’s just “life-jacket capitalism”. I wonder which one is the best :/

  2. Jujupiter says:

    Oops, forgot the word “strategy” after “economic”.

  3. […] easy to forget, stood on the Northern Line each morning – especially in a world of economic upheaval – that the city is more than just bankers and lawyers (and each of them has their own identity […]

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