Another perspective on the global financial woes

Monday, 28th June 2010 16:21 - by Resident IFA

I couldn't help but share this with you... I sent an e-mail Newsletter update to my Clients and Associates earlier today, regarding the Emergency Budget and the implications therefrom. The names have been changed to protect the (not so) innocent in this humourous 'take' on the general global financial woes which winged its way back to me... ***** "I think it will result in a larger number of "Cash," transactions. ;) It's already started. We usually take far more card payments than cheque or cash, but the last few weeks have seen a significant increase in good old fashioned 'coin of the realm!' The British tax payer is being mugged. We've all been committed to fund a massive share purchase in bank stock by HM Government. When they sell those shares at some point in the future, the money will be returned to treasury. When this happens - will they refund any of it back to us? Errrmmm... I think not. Being philosophical, in the long term we're all dead and none of this will matter. It's just a bit tough on our kids (or Grand children if things go really wrong). A short term 0.5% tax on every Interbank bank transaction across the whole of the world would probably clear the deficit in a year and give the Americans a chance to redeem themselves. I don't know, has anyone crunched the numbers on this? LOL All IMHO. My favourite credit crunch joke... A.N.Other Bank - on the left of their balance sheet nothing's right - and on the right - nothing's left!" ***** Until next time...