Enterprise life, promoting and advertising included, has change into exponentially extra sophisticated with snake oil retailers of all descriptions profiting mightily as a result of few of the remainder of us have the faintest thought what they’re as much as and even speaking about. Adtech, martech anybody?
“Trussonomics,” because the financial insurance policies of latest UK PM Liz Truss are collectively recognized, has plunged folks and companies within the UK (already grappling with hovering vitality costs and doubtful advantages of Brexit) right into a tailspin with borrowing prices, together with mortgages, going by the roof.
Advertising and marketing budgets are being slashed and companies will shut of their 1000’s until somebody persuades Truss and her consiglieri chancellor Kwasi Karteng to drop their unfunded tax reduce plans and get the nation again on the monetary straight and slim.
Somebody, someplace although will probably be earning profits from all of this, in all probability Karteng’s outdated pals in Metropolis-based hedge funds. Why? As a result of they all the time do.
The final time we noticed such mayhem was the monetary disaster of 2008, when American sub-prime mortgage scams holed the world’s monetary system beneath the waterline, leaving taxpayers to fork out billions to fish the bankers out of the water.
Right here’s a sketch from 2008 with satirists John Chicken (the banker) and John Fortune (his baffled interlocutor) exploring the monetary disaster. It’s fairly revealing and really humorous.
Now as we attempt to grapple with fearsome penalties of Trussonomics’ disastrous influence on the bond markets (and therefore the UK’s mushrooming overdraft) there’s an pressing want for a brand new Chicken and Fortune to inform us what’s occurring.
At the very least they might give us fun.
