Tuesday, August 28, 2007

Which window? (a day in Galicia)

Amongst other things today, we went to a supermarket in Ribeira. I saw it’s name on a billboard as we came in, so we turned off - apparently towards the town centre. We hit a traffic jam which cleared up pretty fast, then headed through a largely residential part of town. Then we saw a small sign which pointed the direction to the supremarket, and headed off. Within minutes we had left the town, and were heading into an area which was low rise, clearly on the outskirts . We turned back, and eventually found our wrong turn, turned down the steepest carpark entrance, and did our shopping. Luca found some Simpsons biscuits which we were happy to buy for him. We got our shopping done, meeting some very friendly and helpful sales assistants during the process and headed for home.
As we were deciding which way to go Luca set up a refrain of “can I have my simpsons biscuits” from the back seat. I told him to wait about three times, and when this didn’t make any differentce, I exasperation filled my throat and I said “if you don’t stop saying that I’ll throw them out the window”. He thought about htis a moment, then his reply shot back: “which window daddy?” We could only laugh . . .

Friday, August 10, 2007

The long tail of debt

Here's a thing, there was a time when the most debt in society was carried by large institutions, which were relatively stable. Nowadays society runs on debt, and there are many more consumer oriented companies - selling all sorts of devices and depending on income from subscriptions, regular payments, etc - more phones, ipods and other mps3 players, computers, tv, internet and phone subscriptions are bought every day, and at the same time many people are over-extended with mortgages and credit to greater and greater degrees . .

Doesn't this reduction in share values, (caused by anxiety over the level of debt among consumers) risk pulling the rug out from under consumers by limiting their ability to spend, therefore causing a sort of messy and rapid downward spiral as that blows back into the market as further uncertainty and share selling . . isn't the whole capitalist system much more unstable the more it relies on millions and millions of consumers to make many smallish payments . .which are bolstered by large (for the individual) debts?

Hmmm…