Financial Empathy

WHEN the Bank of England warns that US tariffs will damage UK living standards, it can only mean one thing. The country's leading bloodsuckers are clearly worried that if you don't borrow enough money or accumulate enough houses and cars, there will be less for them to take away when you fall into debt. Less mortgages will inevitably lead to less repossessions (foreclosures) and therefore less profit for the usurers.

Imagine what would happen to a pickpocket if wallets and purses suddenly went out of fashion. In other words, a decline in living standards may severely limit what I like to describe as the 'trickle-up' effect, or less crumbs from the poor man's table. On the other hand, I'm sure your average pawnbroker - i.e. those who occupy one of the lower rungs on the parasitical ladder - will be thrilled at the news.