The world has gone into crisis- we all know what it is. We made jokes of it, we are worried because of it and some of us claim they aren’t affected by it. But, the credit crunch is here and we all know how it’s changing the world for the worst.
So many people have been asking questions regarding this global crisis and I am one of them. Why the heck is it that badddddd?!
I know for sure that it has affected the UK. Just yesterday, I went grocery shopping with my dad and blimey! All the food prices had risen, even my favourite snack (sesame snaps) which I used to purchase for a mere 15p (30 cents for my American readers) has now risen to an all-time high of 30p (if you do the math it’s 60 cents). Sorry for sounding cheap, but now I can’t afford it with the usual change I have. Damn you America.
Yes, I blame the US of A (especially George Bush) and I am glad it’s the worst effected country. That country is so wasted; it makes me wonder why it influences people around the world. I can’t wait for a new presidency to make some changes and to fix the situation down there, because I don’t want to be fighting for the last cheese sandwich in the near future, y’all (if it gets that bad!)
But, the change for the better won’t happen fast unfortunately. (Boohoo!) According to the Finance Blog under the post “Credit Crunch Explained” It states that:
The credit crunch could last a long time. This is because:
1. House prices are still falling in the US, reducing the value of mortgage loans.
2. Many homeowners still face rising interest rates, when their introductory periods come to an end.
3. It can be difficult to regain confidence in the financial markets.
4. A recession in the US and global downturn could cause a further rise in bad loans.
So what’s your opinion? Are you worried sick? Or are you keepin’ it cool as cucumber and not caring much?
And for those who are really worried sick, I hope these credit crunch jokes that I found will cheer you up. =)
What have Icelandic banks and an Icelandic streaker got in common? They both have frozen assets
What is a banker’s favourite chocolate bar? A credit crunchie!
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