Archive for the ‘panic’ Category
I’ve been listening to the news over the last few weeks and struggling to work out whether I need to be worried or not.
I don’t have a mortgage. I don’t have any loans, nor am I looking for credit. My pension provision is basically negligible anyway. I can afford to pay my rent and bills and I have pretty limited fuel usage on a day to day basis. I do, however, have some savings in the bank and am dependent on gifts from other people whose money is, presumably, in the bank too.
Should I be at all worried that my high street bank (HSBC) might collapse? And, you know, it’s probably not going to keep me awake either way, because there’s nothing I can do about it. But I’d just like to understand the situation. At the moment everything’s happening within the City, isn’t it? So even Bradford and Bingley customers are going to be okay, I think?
And, just out of curiosity, what would happen if the banks keep collapsing. Do we end up with one winner who has all the money? Or none, and go back to bartering? Which would be good for anyone with real skills, rather than just corporate-speak nonsense.