My vision for the future …

Well, as everyone else thinks they have become masters of finance and economics; I thought I would pipe in too! Right now, the world needs to “fix its own mask first before helping others“. We have got ourselves into a right mess; and the root cause is simple: reckless lending! (I am purposely not going into the “where, why, when, who” of it all; as again simply: there is collectove blame!

Now that we all own part of the banks; I am sure we are going to see less nonsense in the markets; but then the wankers I have met in London who are driven by currency gains I am sure will fuck us over again in another 5 – 7 years time; so I am prepared to be told that we didn’t learn “back when it happened in 2008!”.

In the meantime; I think we all need to develop a sense of commercial awareness and realise that in business; anything that has a cost attached to it needs to deliver value; and deliver cash-value at that. Value-add is no longer sufficient; we must deliver CASH value as we go forth.

I sit listening to an expert Joseph Stiglitz (University of Oxford) who is giving a sobering account of current affairs. We are all twats; we took on more debt than we could cope with in the hope of high-value property gains; and borrowed aganst our home for other ventures and of course borrowed insecurely, all breaking the global cash-flow. Me, included by the way; although I did it with a commerical head.

So, we need to ride this out and be aware that we all need to be marketable so that in the event our own current affairs change; we can adapt to ensure our own cash-flow is maintained. Financing is no longer an acceptable in the short term; our lenders needs our cash to prop up this hooha.

So, this hooha is going to last a good few years; so those on fixed term mortages are good over this term. Borrowing should be HEE HAW over this term and we need to live within our means and look for ways to secure cash; that shoud be saved / invested for the medium to long term. Short term is for the government to worry about. For us in the short-term, we need to protect our capital; and that is as good as it gets. Those looking for a return right now need to assess what their return is doing beyond their own gain.

We are all in this together and all the chat in the world is not going help; ride it out people. CONTINUE as you are; but making sensible changes to your life – there is no need to start keeping your cash in a biscuit tin under your bed. The media will have you believe that your fucked; those that have had to call in the bailiffs were probably heading that way anyway and needed to take steps well before this “credit crunch” kicked in; the timing of the call just gives an “out” to those not taking responsible for their own affairs. Hard, but true.

To define the changes I am thinking of: booze in, instead of out a few more times in the month. take a quick assessment of where your spending your money; dont stop; but do less each time if that makes sense. At work; make sure you’re delivering; if there is a change on the cards; make sure you are marketable – more than 70% of those I know in permanent employment don’t have a CV; nevermind an up-to-date CV. Give some thought to what you need to do to bridge a change in job.

We will get through this …