The Credit Crunchie

At a time when ‘woe is me,’ is our financial mantra, could a change in mindset save us all?

 

Babu Basu wonders whether it is possible to ‘think yourself out of recession?’

 

 

Go wash your mouth out!

 

You can swear in front of me as much as you like. I’m not offended. Use the ‘r’ word (recession) however, and I’ll ask you to leave the room. Do not offend me with such insolent language. I know that recession (look I’m saying it again) exists, but must we keep repeating that awful word?

 

For any bad word to be truly effective, it must only be used sparingly. The media, however, are positively bathing in it.

 

Things are bad economically. I’m not doubting that.

 

But I wonder, have we developed a ‘recession obsession’?

 

Could we, in fact, be talking ourselves out of recovery?

 

 

Doomed! We’re all doomed!

 

Our homes are losing value. Energy and food prices are rocketing and confidence is evaporating. The UK economy is juddering like a new driver, practicing clutch control. As we grapple with falling fiscal confidence, can we, the economic hoi polloi, really make a difference?

 

The economics bit.

 

According to free market theory, the impact of the individual is limited. In the UK, we’re only one of a 60,000,000 potential players, therefore, our ‘financial footprint’ is of little consequence.

 

But, this is just economic theory. Economic fact however, is rather different.

 

We may be part of a free market, but we are not, (sharp intake of breath) all equal. Some of us carry more sway than others. It’s not just about having more money. It’s also about having influence and shaping attitude.

 

The guilty fourteen.

 

Here’s a quote to get you thinking,

 

“The credit crunch in Britain was started by 14 individuals”

 

 

 

 

Fourteen?!!

 

According to a colleague, quoting from a BBC radio phone-in, the fall in consumer confidence was brought about by comments made by 14 key people – all well respected spokespeople from politics, journalism and business.

 

I’m not so sure…

 

Okay, economies are complex as are reasons for (I’m going to say it) recession. Our present state of economic stagnation occurred mainly due to global factors – things that most of us could do little about.  But, the quote got me thinking…

 

If individuals who shape attitude can slow down market activity, why can’t they also help to pick it up?

 

I’m not suggesting that we fake good news or have an Orwellian style ‘Ministry of Happy Thoughts’, but could we have some good news or practical debates on how we can make things better? Surely, there must be a way.

 

He crazy, no?

 

At this point, I’m sure certain politicians, economists and some of you think I’m a well meaning and idealistic simpleton. Perhaps I am. But before they cart me off to the funny farm, ask yourself, “Can we afford this complacency? Can we afford this cynicism? The average person in the street is hurting right now. Times are tough.

 

Happy happy. Joy joy

 

No one person has all the answers. That’s never the case in business, nor in economics. But, I’m pretty sure that many of us have part of the solution. We need to change our collective mindset.

 

Throw off the doom and gloom cloak and put on something more cheery. Sometimes, just adding an ‘i’ and an ‘e’ will help turn things around.

 

An ‘i’ and an ‘e’?

 

Throw away the term ‘Credit Crunch’. It frightens us all. It sounds painful. Instead, let’s use the far friendlier, ‘Credit Crunchie.’ (Ya see, adding an ‘i’ and an ‘e’)

 

The Crunchie bar was, and is, a delicious, crunchy honeycomb snack, smothered in chocolate. It’s sweet, tasty and makes us feel happy.

 

We need to bring that feeling of happiness back to our economy. That positive, desirable ‘Friday Feeling’.

 

So go out there and buy yourself a Credit Crunchie. Go now (or wait till the shops open).  Purchase a delightful honeycombed snack and watch (y)our attitude change.

 

 

 

What happens then?

 

Buying the Credit Crunchie will mean:

 

1)    You put money put back into our economy. This then generates more economic activity. This is known as the ‘Multiplier Effect’.

 

2)    You possess something that will make you feel happy. When you’re positive, you’re more able to face economic uncertainty head on.

 

3)    You feel psychologically stronger as you start to devour economic uncertainty. You are eating your problem away!

 

4)    You will have the energy to think entrepreneurial, creative thoughts.

 

And 5) If you eat too many, you’ll need to buy new clothes – putting more money into our hard hit retail industry.

 

Dentists, dieticians, doctors and fitness instructors would benefit too.

 

You see, happiness and wealth creation for all.

 

And, should you, on your travels, hear someone using the offensive ‘r’ word, you have my permission to beat them soundly with a Crunchie bar and force feed them with its sweet, entrepreneurial goodness.

 

    Go forth and Crunchie-fy!