Northern Rock? Northern shifting sands…
In 1929, the official figure for those Americans dabbling in the stock market was less than 1% of the population. Yup! Less than 1%. And yet when the whole wigwam went t*tsup, the economic shockwave rolled round the world.
Start practising living without your Visa card, folks. The roller-coaster ride has just begun. The world of ‘Money for nuthin” (Dire Straits, aptly named!) is about to come crashing down.
And remember, all these billions being poured into the market to maintain liquidity levels has to be repaid someday. It’s just band aid for a multiple pile-up.
Why am I so carefree? Mortgage paid, and my Visa statement says I owe them a trifling 4.67 pence.
