Friday, 3 October 2008

Credit Crunch Madness

"Credit Crunch" sounds like a cereal, or possibly some sort of game like pac-man, except the little dots you have to eat are dollar signs.

Obviously, though, it's what the world is calling the recession without actually using that hair-raising, completely horrifying term.

One Rabbi has been paying attention to the economic downturn, however, and one of his sermons included a little bit about it. The credit crunch, he explained, is religiously significant. That's why it happened on Rosh Hashana!

This is obviously untrue. The credit crunch has been in the making for many months, the economic bubble of goodness was popped when everyone realised some @ssholes on wall street were granting and then selling on sub-prime mortgages.

I am saddened, therefore, to see a relative who has some connection to the city and is trained in the way of finance to suspend his training and logic and accept, even defend, this Rabbi's words as true.

I wonder if this Rabbi actually believes his words, or if he got caught in the moment of what he saw as a good sermon, and exaggerated.