Tuesday, October 28, 2008

Money's Too Tight To Mention

Whilst enjoying a cut-price sub at lunchtime, I heard mention over the radio that Gordon Brown is effectively soliciting the world's better-off nations to pour more money into the IMF, to help out countries affected by the credit crunch. It's the international equivalent of a bleary-eyed student gadabout calling their dad at 7am for a fat sympathy loan, having blown all their dough on, I dunno, joss sticks and cans of 20/20. The most remarkable thing, of course, is that the West is asking the rest of the world to help them out. China and the oil-rich Gulf states are richer than us. A lot richer. This surely marks the beginnings of a new economic age for the world we live in.

But wait a minute - who cares about that nonsense? After all, it's only been dominating the news for 18 months. Who can even think about the turning of the global economy when a quite funny comedian and a quite unfunny chat show host have been insulting Manuel's granddaughter on a late-night radio show? The monumental storm in a tiny, plastic play teacup that Brand and Ross have created is like complaining to your landlord about an ants' nest whilst an elephant lurks furtively in the middle of your lounge. I admit that I wouldn't particularly relish finding the 4 messages in question on my voicemail, but the fact that Sachs' sainted granddaughter currently earns a living in a performance ensemble known as the Satanic Sluts might suggest that allegations of sexual activity may not have been the libellous sucker punch we're led to believe.

If we're all trying to ignore the clouds of doom circling just behind a certain prank-calling fop, what chance of the little people affected by the credit crunch getting their turn in the spotlight? Well, the BBC are trying to address this imbalance by listing a few quirky professions either benefitting or suffering as a result. One profession I'm particularly pleased to see doing well is the humble art of cobbling. This is because on Sunday, I saw our local cobbler shutting up shop at midday and wondered to myself how on Earth a South London shoemaker could weather the financial storm when airlines and multinational banks are going under. Thankfully, people are now getting old shoes repaired rather than buying new ones, so I can stop considering taking my weather-beaten old Converse shoes in for a patch-up.

As the West looks to the East for guidance and the odd sly tenner, one idea being put forward is that Islamic financial systems could be used as a model to rebuild Western economies. While Russell Brand at least will be delighted, as it might mean he finally gets a break from being on the cover of the Daily Mail, it does make financial sense - many Islamic financial systems forbid the paying and charging of interest, as well as speculation (that's when some cocky City boy tosses your savings around the stock market like a 3-year-old playing Monopoly). It could be the way forward, and is something that a lot of financial folk must be considering, while Andrew Sachs considers changing his phone number, and seeing if his granddaughter needs financial assistance to facilitate a change of lifestyle.

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