It’s odd out there at the moment – like the calm before a storm or the last few days before a war starts. Apart from the lady on the train I overheard yesterday who said that her £5,000 transfered out of one of the Icelandic banks had left that account but never arrived at the destination and that the friend of alobear ‘s who works for Kaupthing is almost certainly going to be out of job none of this financial "Armageddon" seems to be having any real impact. Until wages go down, jobs are lost or prices go up I think most people outside the financial industry feel it is real. Still, given the state GM and Ford are in any of those things might happen any day.
The unreality is continued by the totally oversight-less payoffs from the various governments to the banks, etc. These increase various state’s national debts but who honestly believes that the US will ever make any serious efforts to pay off it’s national debt anyway (maybe in Bill Clinton’s time but not now). No state that has lent money to the US can ever call in their debt as they are far too reliant on the US markets to keep buying their products to keep their own markets afloat.
Anyway – all that said perhaps there will be a few small changes. It looks like more money will be spent on looking at oil alternatives and there has been a big effect on the upcoming American election. You can say what you like about Troupergate and the ever-present "Obama is a Muslim" emails but I’m pretty sure they’re all being drowned out by the perceived state of the econmy.
Look at this :