Saturday, October 11, 2008

Collateral Damage

Another week when the media has been full of little more than news of
financial meltdowns around the globe. Bankruptcies to bailouts
now extending beyond the financial markets to a whole country - Iceland is the first
but will it be the last? For my own part a switch of a few pounds from Royal Bank
of Scotland current account to Royal Bank of Scotland shares at c.69p seemed
worthwhile as the current account interest rate is tiny and the share price
too low (imho) reflecting the panic selling of past days.

Yet all this financial news fascinating though it is for those who take
an interest in matters fiscal, financial and politcal, masks the human
tragedies that are still affecting people's every day lives
asmuch now as they were before. Zimbabawe for example was begining to move
to some kind of government less than absolute Mugabwe dictatorship
under pressure from the world's media. That pressure has gone
with the credit crunch etc news and Zimbabwe has stalled.
Darfur? Global warming and other fundamental issues about human life and
our very existance are off the front page. Those who ner'do well
are able to have their field days now with far reduced risk of critical pressure from the rest of us.

1 comment:

  1. Leaving the cash in the RBS current account would have been
    better.

    ReplyDelete

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