Saturday 26 July 2008

Feeling The Pinch

All is not well with the world. There are too many people on the planet and they need to eat, to drink, to get to work and to build websites, which is consuming a plethora of natural resources (such as food, oil, metals and bandwidth) at an unprecedented rate. Unless you are a Russian energy oligarch, a Monaco prince or Steve Jobs that means you are cutting back.

Given the scandalous mis-pricing of risk that led to the implosion of the sub-prime mortgage market and the current credit crunch, even the normally immune world of high-finance executives is feeling the pinch. It's rare these days that a bank's top market operators have the cash to flash Ferrari 430 convertibles and enough Rolex watches for an octopus. Come to think of it, I can only think of one...

"Tangible evidence of the world-renowned Global Head of Trading for an
international bank cutting back on fuel costs..."

"Rare glimpse of world-renowned Prince Albert of Monaco showing off his new
toy as he leaves for the office..."

4 comments:

Daddy Papersurfer said...

I'm cutting back myself - I'm only wearing one pair of under-crackers...... certainly doing my bit/s

Somnambulist said...

Errm do you mean one pair at a time... or just one pair endlessly?!

Daddy Papersurfer said...

A very fair question.

Somnambulist said...

p.s. Prince Albert has actually complained personally, twice, that the captions are on the wrong photos. Apparently appearing in a Somnambulist post is the best public exposure he has had for sometime. His kids weren't impressed though...

They have a funny sense of humour in Copenhagen ;-)