Tuesday, January 22, 2008
Wonderful, the markets have finally crashed. I was expecting this six months ago, but, for some reason, this particular phase of financial bullshit and delusion has lasted slightly longer than most. The crash is good because, unlike the other 'we've beaten the market' scams that I can remember, this one seemed unusually nasty and damaging. Certainly a lot of 'real world' people will suffer as a result. For myself, I can look forward to decent restaurants being restored to their former glory and mega-baby-buggies ceasing to clog up Notting Hill cafes as hedge funds evaporate, private equities collapse and international bankers sod off back to where they belong, leaving London to delightful Polish builders and waitresses and writers of thoughtful essays on the burning issues of the day. My record on forecasting is poor, but everybody needs a dream.
Posted by Bryan Appleyard at 9:28 am