1/8/2023 0 Comments Mona brown ever forwardThen these sharks raise the price of their credit until not only the pips squeek but the entire lemon in your hand is so dry that it turns to dust. First they get you hooked on spending and then when you have an incredibly high dependance and crave more of their credit (though you cannot really afford increased repayments), they dangle new credit cards in your face and suggest you 'consolidate' all your debts into one new card offering a mythical ZERO PER CENT (but in reality, charging a higher interest rate of course). Put it another way, think of bankers as drug dealers and pimps and you won't be far wrong. I would be one of the very people they inveigled into taking out yet more credit by mailing us yet more unsolicited credit cards, a tactic that has resulted in we British being the most indebted per capita of any citizen in the Western world. For if I did, I would be part of the swathe of people who are in debt up to their necks (and more) being comprehensively ripped off by the bankers. I am absolutely incensed even though fortunately, I don't conform to the typical Briton. Their 40% APR represents an 8,000% profit margin! Yes, that's an EIGHT THOUSAND PER CENT PROFIT MARGIN, a margin some 30 TIMES GREATER THAN THEY EARNED PRE-RECESSION.ĭoes your average Joe not recognise them for the pimps that they are? No wonder their profits are already back to almost the highest level they ever reached just prior to the crash. There I was, just checking my emails on the BTintenet website when my eye spotted a credit card advert and the rate they now have the audacity to charge for credit. Since the recession - THAT THEY ALONE CAUSED AND WHOSE BAILOUT WE ALONE ARE FUNDING TO THE TUNE OF £15,000 PER MAN WOMAN AND CHILD - bankers have seen their cost of cash fall to exactly one tenth of what it was pre-recession - just 0.5% these days. This realised the major banks a profit margin of around 250 to 300%. The typical credit card rate levied by the major UK bankers was then around 18 to 20% APR. In September 2008 when Lehman Brothers' failure kick-started the current recession, the UK Base Rate was 5%. Small wonder that so few people study engineering these days.Īnd no wonder the great unwashed still think a large advance is aptly described by the term Quantum Leap. But in doing so, what do you call the real engineers? The ones who invented the damned motor vehicles in the first place? But how many times have you seen the title 'John Grimes, Motor Engineer' above a paint-peeled pair of garage doors? That's because we've happily allowed garage mechanics to upgrade themselves to fully blown engineers since cars were invented. If the local mid-wife gave herself the title Doctor, there'd be claims of an abuse of the medical profession. In fact, a true engineer is a qualified man probably wearing a suit and more at home calculating stress and metal fatigue than changing a Nissan's oil. And an engineer's currency has been at rock bottom for decades to the point where no modern teenager aspires to become the commonly percieved engineer the oily handed, dirty fingernailed grease-monkey with a grimy rag in their boiler-suit pocket. And that's because, unlike in Germany and Italy (for example) where the title Ing Spaghetti Bolognese is used as the everyday title of an Engineer (in much the same way as we call a Doctor, Doctor), here in the UK we have mercilessly squandered, mis-matched and degraded the term engineer. The root cause of this misnomer is that the majority of my fellow countrymen are ill-educated in all practical subjects such as geography, physics and especially engineering of any form. There's been a Quantum Leap in the use of Quantum Leap by cutting edge hacks and media reporters of late.īut a quantum is the smallest form of matter known to man so how does Quantum suddenly take on the mantle of something very much larger? That's a Quantum leap in itself.
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