Wednesday, 31 December 2008

Credit crunch will help social cohesion

"One potential upside of [the economic downturn] is that in times of difficulty British people have traditionally rallied round. Maybe I am being a bit sentimental, but I hope that is something that will come out of this."

Vince Cable

Yes, Vince, I think you are being a bit sentimental. It is payback time Vince. After years of explosive credit growth, the UK economy is about to be crushed under the weight of its own indebtedness. This isn't a time for rallying around; it is time to jump ship.


london estate agent said...

It was just a bit of end-of-year feel good chit-chat.

Don't judge old vince too harshly.

Nick von Mises said...

I suppose all the public sector layabouts will "rally around" rather than go on strike to demand inflation-busting pay rises.

I suppose the chavs and scroats will rally around when the benefit hose is turned down, as opposed to stealing and looting.

And I suppose all those Somali pirates will rally around rather than running gangs thru London.

Anonymous said...

Unfortunately rather than increasing community cohension, situation such as this just increase the gulf between haves and have-nots.
All those who made money over the past decade will now be looking for bargain basement investments to increase their wealth, whilst the lower end of the wealth scale struggle to keep hold of their jobs and pay the bills.

Anonymous said...

"Social cohesion" in Trafalgar Square circa May 2009.....