Newspapers and banks are now suggesting strategies to save. In countries like the UK, this is perhaps similar to what rationing meant during the Second World War. People were encouraged to replace their basic diet with substitutes. Still we are always tempted to go for the sales, the discount, 2 for 1, 3 for 2, pay nothing in the first 5 months, etc. As if we were to save. Interestingly, some of these 'savings' strategies are to blame for the crunch itself! We should be wary of what we are really getting.
So there is a psychological as well as physical crunch I gather. With an inflation hitting over 5% one should say that the situation is critical. But wait a minute...is it not the case that in other countries and before the whole thing about banks, mortgages and crunch became news in the West emerged, inflation was and still is much more higher?The fuel of economies seems to be capital, in order to fund employment. But there is also a job to do, regardless if that is paid or not. Cleaning up the streets, helping those in need, teaching what you know. These are all examples.
We might not need to take the crunch everywhere we go as if it was a 'cross'. The religious crunch is not taking place, so the priest says. We are still thinking of a better life here and over there. So we are not reducing our real investment in hope.
And if we want a good Christmas, an old and wise friend used to say: Make yourself a good Christmas, it does not happen by chance.
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