Thursday, September 18, 2008
Think of the victims posted by Richard SeymourWon't somebody please think of the victims?:
And when they do get home, how long can they afford to stay if the rent is high or a mortgage outstanding? What about the builders remodelling the kitchen? The nanny and the cleaner? How will they pay for the private school? The private health insurance? The car, the clubs, the tennis lessons? Dining out, theatre, opera? Christmas presents, holidays, charities? The accumulating pile, which to a banker serves as a report card, means many different things to those who help to spend it and to those on whom it is spent.
For every vanished pile there will be crying children, an angry spouse, unemployed builders and domestic help, goods left on shop shelves, flats and houses available to rent or buy, empty restaurants, and villages in Africa that don't get their new water pump after all.