Tag Archives: credit crunch

The economy is bust – official

A DARLING, yes really, is the Chancellor of the Exchequer in the UK. That is to say, he has the purse from which he doles money. He’s caused a controversy here by saying that we face the worst economic conditions since 1948.

Alistair Darling

Alistair Darling

A cheery soul, eh? But when I was at the Intel Developer Forum, I had a long and interesting conversation with a US analyst who really knows her stuff. She thinks the economies of Western Europe and the US are screwed too – we both agreed on that.

I don’t remember 1948, because it was the year before I was born, but I’ve lived through several recessions during my lifetime. I was amused to see an advert from Citibank in Singapore touting a credit card with the sage words at the bottom – borrow responsibly.

Taking advice from bankers is obviously a bust flush – we’ve still to see the fallout from last year’s credit crunch. But my friend said the worst effect would be on youngsters between 20-25 in the USA and Western Europe. They haven’t seen anything but continuing prosperity for year after year. The idea of saving money is an old fashioned notion to the kids, so with unemployment rising in the UK, house prices falling, and inflation, er inflating, they aren’t going to know what’s hit them.

INQUIRER editor gives Examiner editor the bird

THE FIRST PUBCAST has come to pass but it has happened here, on my very own bog.

Paul Hales, the editor of the INQ (founder: M.Magee) decided to join the Old Farts at the Globe Tavern opposite Baker Street yesterday evening.

Hales wasn’t a happy bunny. But at least he had the grace to respond to our request for a live interview, complete with sound effects. Just a second later, he grinned and gave us the finger twice. But we’ve cut that bit out, because this is a family bog.  The vid was produced with the fantastic Flip device – it plugs into your USB port, the sound is pretty good, and the vid quality isn’t bad either. The software is on the machine and it takes a couple of batteries which generate an hour of video. What’s inside this cheap device?

With apologies to Intel for the dum-de-dum-de-dum-de-dum thingie. It was playing loudly on the pub TV while we were filming. The finger is here.