You can’t move in the journalistic world at the moment without being faced with worrying questions about the credit crunch, but no-one seems to have any definite answers. It’s particularly daunting for someone such as me, who has no formal economic education, so I readily bow to those who know their FTSEs from their Dow Jones’s.
The Times’ daily columnists have been doing a great job of making the credit crunch more comprehensible, and today the BBC chimed in with this helpful article.
But I am quite surprised that no-one has risked taking a Marxist view of the situation, even ironically. I consider myself to be a closet Lefty, fairly convinced by Marx’s ideas, but not educated or confident enough to walk down Farringdon Road waving a Red Flag, burning £10 notes.
No matter what your political stance, it must seem unusual that as the capitalist system falters majorly, there is a great dearth of left-wing criticism. Nonetheless, I found this article from the Guardian particularly interesting.
Unquantified though it may be, I think it’s wonderfully ironic that the Germans (who are stereotypically aligned with fascism) should look to their estranged son Karl for guidance during this time of severe economic turmoil. Perhaps I should look to the Guardian more often to indulge my quasi-Marxist tendencies…
Now Playing: Frank Turner – Love, Ire & Song
UPDATE 13/11/08: Don’t despair, some would argue you can even benefit from the credit crunch. David Christopher blogs that a reduction in house prices can only be good for those hoping to get on the property ladder for the first time.