what the crisis meant to people in banks: banks are wary of lending money to each other, liquidity dries up, no trading done, clients not confident of doing any trades, banks not making money, some suffers cash flow problems and need cash injections via sovereign wealth funds, banks freeze new hires, cut costs.
what the crisis meant to people not in banking: the bankers patronise the corner deli shop less, business suffer. deli shop's boss retrench staff, they have less money to spend. people will find their mortgage payments going up as liquidity dries up and cost of borrowing increase, disposable income decreases, people will be more frugal and shop less, retail industry will be affected, especially those who operates on a high volume low margin model as they will soon find volume of trades decreasing.
case in point: i was at H&M a few weeks back checking out the new H&M "man" trend collection. the collection is wonderful and uses much better quality materials, and in better times i wouldn't batter an eyelid and bag most of it, but with the credit crunch looming ahead i decided to walk away with just 1 piece, and this winter is about recycling and modifying.
enough of gloom talk, here are my picks:








i love H&M, i really do. but blame it on george bush and his administration for spending billions on the war in iraq instead of the economy. ok this is getting political. just blame it on george bush, and not take it out on H&M.
"old man lying by the side of the road
where the lorries rolling by
blue moon sinking from the weight of the load
and the buildings scrape the sky
cold wind ripping on the valley at dawn
and the morning paper flies
dead man lying by the side of the road
with the daylight in his eyes
don't let it bring you down
it's only castle's burning
find someone who's turning
and you will come around"
~ don't let it bring you down / annie lennox
how nice it is to find fab, fashion-conscious boys! i love everything you got, too bad we don't have h&m here.
ReplyDeleteespecially adore your trousers! =D
loving the colour block jumpers. the faux fur scarf looks good with the camel jumper too. how i wish we have H&M or Zara here =(
ReplyDeleteH&M is addictive... love hate relationship!
ReplyDeletei take a picture of that sweater orange in paris and you're sexy in your stripped pullover. buy it!
ReplyDeleteI like the fur scarf! Hurray I am coming to london and will be able to buy that! Hurray!:-) Thanks for being the trial model:-) Youlook good in those pieces, especially the first 2 sweaters! The orange one looks great!
ReplyDeleteI need to go to copenhagen and shop some of those things!!!! Love it Joseph! Looks very good!!!
ReplyDeletehmm i am tempted to get the orange sweater now....
ReplyDelete*credit crunch munch crunch*
the striped pullover looks utterly lovely on you!
ReplyDeletelove the fur scarf, it reminds me the one made by louis vuitton last winter.
ReplyDeletehttp://fredshoppingaddiction.blogspot.com/
yes it does look like the one from vuitton, but at a fraction of the price and a fraction of the quality!
ReplyDelete