http://castironbalcony.media2.org/2008/12/21/the-home-atm-is-out-of-order-we-regret-any-inconvenience-this-may-cause/ A blog by an opinionated mother of two, which might lie idle for a while sometimes. The blog, that is. Sat, 05 Nov 2011 09:56:23 +0000 hourly 1 http://castironbalcony.media2.org/2008/12/21/the-home-atm-is-out-of-order-we-regret-any-inconvenience-this-may-cause/comment-page-1/#comment-7573 Hattie Sun, 21 Dec 2008 20:00:28 +0000 http://castironbalcony.media2.org/?p=613#comment-7573 You are in for it. It's the big global shakedown that will leave poor people destitute and better off people poor. We all need to start thinking locally and looking at what our real resources are. I know it's tough where you are, as it is here in Hawaii; so many goods are imported. I don't think the starkness of the situation has hit Australia yet, but if people have gone into massive debt, it will be as dire in Australia as it is in California now. My contribution to your country is to drink lots of Yellow Tail Shiraz. Such a bargain! And Black Swan isn't bad either. You are in for it. It’s the big global shakedown that will leave poor people destitute and better off people poor. We all need to start thinking locally and looking at what our real resources are. I know it’s tough where you are, as it is here in Hawaii; so many goods are imported. I don’t think the starkness of the situation has hit Australia yet, but if people have gone into massive debt, it will be as dire in Australia as it is in California now.
My contribution to your country is to drink lots of Yellow Tail Shiraz. Such a bargain! And Black Swan isn’t bad either.

]]> http://castironbalcony.media2.org/2008/12/21/the-home-atm-is-out-of-order-we-regret-any-inconvenience-this-may-cause/comment-page-1/#comment-7568 bernice Sun, 21 Dec 2008 08:49:29 +0000 http://castironbalcony.media2.org/?p=613#comment-7568 There's some very interesting work from a British economist (whose name I have forgotten in the fog of Xmas eggnog & crap sparkling white) who has been charting the phenomenon of increasing levels of consumer debt in line with falling actual wealth. Her thesis being that in post-Thatcher Britain (& other economies such as ours), deregulation & galloping globalisation have seen for big chunks of what we once described as working class, our real wages have in fact fallen. Particularly when the social wage component is factored in. Effectively people have fallen to financing their everyday lives with credit as the buying power of their incomes in times of booming economies have shrunk. Tales of folk financing lifestyles of the bling & greedy are, apparently, not representative. When uneggnogged, I shall find the references to her work.... There’s some very interesting work from a British economist (whose name I have forgotten in the fog of Xmas eggnog & crap sparkling white) who has been charting the phenomenon of increasing levels of consumer debt in line with falling actual wealth. Her thesis being that in post-Thatcher Britain (& other economies such as ours), deregulation & galloping globalisation have seen for big chunks of what we once described as working class, our real wages have in fact fallen. Particularly when the social wage component is factored in.
Effectively people have fallen to financing their everyday lives with credit as the buying power of their incomes in times of booming economies have shrunk. Tales of folk financing lifestyles of the bling & greedy are, apparently, not representative.
When uneggnogged, I shall find the references to her work….

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