Nat West - Barclays - Midlands - Lloyds
Am I the only one who thinks that most* aspects of this current economic crisis are simply brilliant? Regardless of the causes, the fact is that we're starting to see nationalisation again. I couldn't have predicted that, but I'm certainly delighted to see it. But there's still unfinished business, like British Rail, British Gas, British Telecom and the like. How can we engineer comparable crises in those sectors? Hmm.
And house prices are falling too. How can that not be a good thing? I've never understood why houses, the most expensive things that anyone's ever likely to buy, are excluded from inflation statistics. Factoring them in, we're clearly in a negative inflation situation. Truly, we are living in a golden age! People bang on about the spectre of negative equity, but negative equity doesn't affect anyone unless they actually have to move; and, when someone does have to move, the new house they buy is itself going to be cheaper in direct proportion to the declining value of their current house.
* Okay, so it's not all good. The only thing -- but a big one -- that tends to take the shine off things is the rise, and inevitable continued rise, in unemployment. Admittedly, part of me does still incline towards the "ne travaillez jamais" attitude (there was an anarchist slogan in the early 1980s which went something like: "National disgrace! 40 million people still in work!"). But, no, that's clearly not a good thing.
And house prices are falling too. How can that not be a good thing? I've never understood why houses, the most expensive things that anyone's ever likely to buy, are excluded from inflation statistics. Factoring them in, we're clearly in a negative inflation situation. Truly, we are living in a golden age! People bang on about the spectre of negative equity, but negative equity doesn't affect anyone unless they actually have to move; and, when someone does have to move, the new house they buy is itself going to be cheaper in direct proportion to the declining value of their current house.
* Okay, so it's not all good. The only thing -- but a big one -- that tends to take the shine off things is the rise, and inevitable continued rise, in unemployment. Admittedly, part of me does still incline towards the "ne travaillez jamais" attitude (there was an anarchist slogan in the early 1980s which went something like: "National disgrace! 40 million people still in work!"). But, no, that's clearly not a good thing.