I'm referring of course to the gloom and doom in the finacial papers over the last few days. Yes there's a huge hangover. Yes there are credit market problems ( serious ones). Yes there will be a lot of pain, especially in the City and across the country. Yes rail fares are hugely up - yes the electricity and gas prices are hugely up.
But I wonder. Being contrarian by nature ( Mrs. Lear says I am just plain contrary) I had a smell today that because it is looking so gloomy and everyone says so, maybe - just maybe - this could be the point at which the Banks, the Governments etc etc etc wake up and start to do something useful.
I got a smell today, because a friend of mine, who has been struggling with his bank since August, suddenly got the money he has been asking for - no strings attached ( well, not more than usual).
It was sent out on 31st December. Noone - NOONE - sends out offer letters on 31st December.
So maybe the Banks have been told - a la USA in the 60s - if someone is asking for money, give it to them.
I'm not saying I necessarily condone it.
But it just might allow the Banks enough time to rebuild their tier 1 capital, take the full write offs that are required - and continue to make money,whilst helping their clients to remain solvent.
And overall, that has to be good for the economy.