The credit crunch is really exposing our divided society once again. The haves and the have-nots are visible for all to see.On the one hand, the well-heeled minority are scarcely affected. They have plenty of money to absorb dearer mortgages, food and fuel without batting an eyelid. Their only concern is whether their savings are still secure, so they're busy moving their money around from rickety banks to safer ones.
Everyone else, on the other hand, either barely solvent or heavily in debt, is frantically juggling their inadequate incomes to pay all the bills and working out what they can cut back on. With no spare cash to save, wobbling banks are the least of their problems.
The government naturally is focussing on the well-padded and their savings dilemma, pumping fortunes into ailing institutions and reassuring the worried wealthy that they won't lose a penny.
But I don't see the same fortunes being put at the disposal of the barely solvent to help them break even and get rid of some debt. There's no chance of ruinous mortgages being paid off or fuel prices being cut.
The government feels your pain, buddy, but there are really no practical measures they can take. You'll just have to hang on until better times come round. Quite frankly, you shouldn't have overstretched yourself in the first place.
And what really pisses me off is the TV newsreaders grinning like Cheshire cats after every dire economic bulletin. I suppose on their luxurious salaries they can afford to grin. They won't be tightening THEIR belts any time soon.
