Gone to the banks – that’s where !
People can be forgiven for not really understanding exactly what has been going on with this Worldwide financial crisis because nowhere does anyone seem to be able or willing to give an adequate, easy to understand explanation.
There may be loads of news coverage all over the place bombarding us all daily with financial reporters and other pundits cackling endless financial technobabble at us, but all that leaves people little wiser as to what has really been going on. The financial industry has always sought to hide it’s dubious activities behind a cloak of arcane nonsense language to mystify, discombobulate and generally confuse the rest of us.
The one thing most people have grasped, and its probably just about the only thing people have grasped, is that people everywhere have been borrowing too much money from banks and because they have difficulty paying it back, the banks are in trouble and so we all have to be hysterically austerical – that’s to say our Governments tell us that’s what we all have to do in order to get out of this mess.
It means, Governments tell us gravely, that a lot of jobs will be lost and we will have to get used to being very,very poor for a very long time. Oh, and we will have to pay back lots and lots of money to all the banks to save them from going bust.