Friday, 25 June 2010

Blue Chip Double Dip

A silly phrase that has got on my nerves now for many years, is about to be used out of context more and more in the coming months - just you wait. This winter, more than any other since the 1970s, is going to be referred to as our 'Winter of Discontent'.

When Mr Shakespeare used that phrase all those hundreds of years ago, what he was saying was that the 'discontent' in question was in it's final stage of maturity, and action was required immediately. It was not a spring, summer or autumn of discontent, but the discontent had been building up for a long period, and could soon be no longer tolerated, so the French were to receive a good bashing on the field of Agincourt. You get the picture, I'm sure.

The current lot of Captains running the S.S. Great Britain knew full well that last year was just a tiny taster of things to come, but tried to keep a bit quiet about it, for fear of losing votes. The banks kept a bit quiet too, for fear of losing money.

We will just have to tighten our belts. Since 23 of the 27 Captains running the ship are multi-millionaires, their belts tighten automatically with the passing of every fiscal year, so they need not bother.

Eat drink and be merry this Christmas, but bear in mind that the only interest rate that is planned to carry on rising through 2011 and beyond, is the one attached to that little bit of plastic in your wallet.


  1. Ah, thanks for that Tom. We have just had the first increase in mortgage rates since last October, leaving me fretting again about whether to lock in.

  2. This isn't supposed to be advice, Raz, just commiseration. I wouldn't base your financial decisions on any tips from me - ask my bank manager.

  3. I didn't take it as advice. I was just commiserating about bank rates.