Skip Navigation
 

Blog

The Credit Crunch Hits Corrie!

Regular readers of my blog -- and fellow full-time Fools -- are no doubt aware that I'm a Corrie fan. I could list many things I enjoy about this soap, which I watch because it provides light relief from the daily grind:

* I love Blanche, the crabbiest character ever created;
* I'm fascinated by Liz McDonald's courageous fashion efforts;
* I guffaw at the utter ridiculousness of nine out of ten story lines...

However, over the past couple of weeks, I've noticed references to the global financial crisis slowly but surely creeping in. It seems even fictional streets aren't immune to the real-life effects of the credit crunch.

Tony Gordon's business is in dire straits.
The swanky luxury flats he owns aren't selling, and now Tony(who we hate, because he had Liam murdered) is having serious cash-flow problems.

Showing a prospective buyer around his properties during an episode last week, Tony insisted most of the apartments had already been snapped up -- and that the ones he had left were a real bargain. "This time last year they would have been," came the reply. You'll never sell them for this much with house prices seriously on the slide, was the implication.

Tony got narky and refused to negotiate, against the advice of his rather more sensible accountant. But now...

Tony can't pay the factory girls.
Tony's at the bottom of his overdraft, so Sally Webster et al have been left to suffer without any dosh.

(When the girls discovered their wages hadn't made it to their bank accounts, one decried the drawbacks of the newfangled BACS system: "This never would've happened under Baldwin: with a weekly pay packet in your hand, you knew where you stood.")

Initially, Tony blamed his bank for the cock-up. There was a problem processing the payments, he claimed.

This didn't wash with the factory girls, so Tony changed tack: "Other businesses are not paying their bills," he whined, "which means I have a problem even though I'm paying mine... And now it's affecting you." Thus, he invoked the impending British recession as an excuse for his own shoddy money management.

In turn, the factory girls bleated: "But it's not good enough, Mr Gordon!"; "We all have bills to pay!"; "Times are hard!"

They walked out of Underworld (yes, the real name of the factory) in protest -- but, of course, found a few quid between them to sup a pint in the Rovers Return while waiting for the boss to sort himself out.

Now left with little choice (well, he's obviously not going to admit he's got a problem), Tony has started stealing cash from his joint account -- in a perfect demonstration of the risk we run when we link our finances to a parner.

Also thrown into the mix last week was a doom-laden pronouncement on the future of the Post Office from Blanche, which she delivered to her five year old great-grandson -- who inspired it while innocently watching an episode of Postman Pat.

Luckily for me, there are still enough implausible, insane events happening on the Street to keep me giggling. Let's face it, if I wanted doom and gloom, I'd be watching EastEnders wouldn't I?
A little nonsense now and then is relished by the wisest men.

Latest content

20 Nov 2008
in Credit Cards

The 0% Credit Card Of The Year

Laura Starkey recommends you use this card to demolish your credit card debts.

15 Nov 2008
in Money Saving Tips

Current Discounts And Deals #81

This week's round-up of top bagains includes the complete box set of Friends for £50, 70% off make-up and perfume at Debenhams and 50% off Le Creuset cookware!

07 Nov 2008
in Get Out Of Debt

Steer Clear Of This Terrible Trend!

If you're in debt, what can you do about it? What should you be aware of?

About me

When I graduated from the University of York in 2003, I wasn't entirely sure what to do with the rest of my life -- or my degree in English & Related Literature.

After a stint as a secondary school teacher, I realised that spending my career forcing fifteen year olds to write essays on Dickens didn't quite fit with the ‘Great Expectations' I had for myself. I'd always wanted to be a writer, so now was the time to try.

I started with fashion, but soon moved on to personal finance journalism. It seemed more relevant to real life -- and it felt good to share with readers the lessons I'd leant about money (many of them the hard way).

I'm a keen shopper, but I always shop smart. I have many pairs of shoes. I write poetry and enjoy wine, film and the company of old friends. I intend to make a million pounds at some point in the near future. I change my hair colour a lot.

My role

As a personal finance writer here at The Fool, it's my job to write articles about the money issues, events and financial products that affect people's lives.

My specialist area is Money Saving Tips, which marries my love of spending with my desire to get great deals on everything. I'm also incredibly passionate about debt issues, saving, consumer rights and personal finance education for young people.

I recommend

Compare credit cards now

American Express Platinum MoneyBack Credit Card

My top pick is the American Express Platinum MoneyBack Credit Card, which pays a whopping 5% cashback for the first three months, on spending of up to £4,000. Just remember folks, you must pay off your credit card balance in full at the end of every month. Otherwise, the interest you'll pay on purchases will cancel out your cashback benefits.