If you have ever had a business this isn't something new, but for people on low incomes it is yet another erosion of our standard of living.
At at least with our interest rate still positive... Just, we have not been declared slaves to the political elite that insist their vision of a free trading free movement Eurozone is still viable.
Well the Banks had to find a way to recapitalise. Why not make the serfs pay to keep their money.
I sometimes think of the little story I wrote when I first started this blog about 'The Naked Country'. It's a mixture of fairy tales but about how taxes were raised on invisible clothes that everyone had to buy.
What they were in fact buying was the coat hanger. Something to make a transaction with. Everything else about the transaction was skimmed or non existent. Just a concept they never had any benefit from but made them feel really good.
Then if anyone had any money left there was a tax on unspent savings.
I genuinely think that each country should have its own currency. I think both the Dollar and the Yen will tank, and because the Russians probably don't have a high personal debt problem (just guessing here) will probably end up dominating world currency with their currency being the reserve.
Its not that I am particularly pro Russian, just that the real deciding factor in real monetary stability Is the solvency and equity of the individual citizen.
I suspect being poor and debt free will be the new rich right now! You can't get a bank account if you are poor.
The good news today is that The UK and EU will follow America in raising impot duty on China and Russia for underselling steel.
This is one up for the silk weavers. The London silk weavers went into destitution because cheap foreign silk was dumped on the British market. That industry collapsed.
Lets hope we we use home produced steel for our shipping and underwater turbines. At least we will know it is high quality, and won't end up being the destitution of our own industrial capabilities.
Someone seems to have woken up to the fact that free trade doesn't actually work. I would also levy tax on car imports from Germany and France, and rebuild a fully supported modern car industry for the UK. Especially if that means we can build the best EVs and PHEVS and link them to the grid.
My thinking is that every home should have a reconditioned and repackaged car battery to capture off peak and excess power to the grid from renewables if they are exceeding demand. If this is grid linked, it could be 'credited' back if the power companies wanted to use the electricity for peak times and emergency backup.
I would like to see people investing in food security, modern farming and energy production. perhaps it could be called a 'Green Bank', and started with crowd funding. Just start afresh with one new style of bank that doesn't trade in futures, stock markets or any other shambles that has been cooked up in the name of Mammon.
Profits rather than being paid in dividends could be paid in energy. Even a Green Supermarket chain could be set up with it as well, so that all produce supplied came from certified Green Farms that look after the countryside. Of course dividends could come in the form of shopping vouchers!
The Banks have wanted a cashless society for years, I think they might get one in a very different way than they expect if they start expecting us serfs to pay for their expensive mistakes by charging fees for banking disguised as an economic downturn.
In case anyone is under the impression that Quantitive easing is anything other than hot air trying to keep a balloon in the air while it has a rip in the cloth, and zero, or negative interest rates an excuse to skim the hard working public, and lifetime savers of their worth, you may as well go out and buy a few bags of salt.
World economy crashed in 2008 and it has never recovered. It has made a few rallies, but the truth is the whole system has broken.
Just as as well nobody reads this blog, Much as this sounds like doom and pessimism, The United Kingdom is actually in an extraordinarily good position right now in my opinion. We just have to play our cards right.
I even think Theresa May is just the right person to shake a bit of sense into the UK.