Thursday, 9 October 2008
Autumn Leaves & The Economy
View from the Artcafe this morning.
Sweeping the leaves from the cafe forecourt this most glorious of Mersea Island Autumn mornings my mind wandered to the current banking crisis, which at times has seemed very far removed from our little marshy island. Now, I'm not exactly 'up to speed' or even remotely interested in the machinations of the global banking system as a rule but the sheer scale of this monumental cock-up has me intrigued. You see, for most of my adult life I've been led to believe that banks were safe places to put one's [business] hard earned cash and they in turn would charge a commission for being so clever and prudent with such deposits. Now it seems that this is less true than ever, in fact it was announced yesterday that sales of safes are up 25% and I'll bet that as I write this many people are ferreting away wads of cash into 'slumberland' and 'sleepeasy' accounts at home!
So often in recent times I've heard these financial [I use the term loosely this morning]... giants bemoaning the 'nanny state' for over regulation etc. Now it transpires that what most of them desperately require is not simply a nanny but something more akin to supergran with a spare £50 billion in her trolley. I may be wide of the mark here, correct me if I am, but this will equate to about £1,000 for every tax payer in Britain. I do hope they spend it wisely.
On a different tack, I (theartist) subscribe to a splendid e-mail twice a week from the Canadian painter Robert Genn on 'arty-farty' matters. It's usually pithy and interesting and last Tuesday's was no exception and particularly pertinent.