Worldwide Economic Crisis

I was looking through the business section in the Cape Times, one of the local broadsheets here in Cape Town, and found an article about how people are dealing with the worldwide economic crisis. This difference with this article, unlike so many others I have read of late, is that I found it amusing.

1. The Church of England (known in the States as the Anglican Church) published two new prayers for the New Year: the Prayer on Being Made Redundant (for those recently laid off) and the Prayer for Those Remaining in the Workplace (for those guilty about not being laid off while so many of their fellow employees have).

2. In New York, the Rainbow Room has closed its grill but is keeping open their bar. And I think establishments serving alcohol will do well during this downturn... as long as they learn from the banks and don't give their clientele too much credit! The smart bar owner these days will not give ANYONE a tab.

3. In a related subject, Australians have taken to buying home brewing kits, with demand outstripping supply. Hmmm... a business opportunity perhaps?

4. The New York Times is now selling ad space on its front page in a bid to raise revenues. This is good news, truly. It gives work to a salesman, a graphic designer, a copywriter, and whoever else is involved in selling and designing the ad.

5. In the United Kingdom, the Girl Guides gave readers advice on making smart fiscal decisions, urging them to shop for the best deals at banks and to avoid debt, and especially not to count on the "Bank of Mum and Dad."

6. At a Borders book store in Maryland that was going out of business, sale items that languished on the shelf despite being 40% off included The Complete Idiot's Guide to Investing. I think perhaps too many people had been reading this book in recent years...

7. Calls to the 211 hotline, which gives referrals for Americans in need of economic assistance, have increased by two thirds in Los Angeles. Meanwhile, there has been a 40% increase in requests at the Los Angeles Food Bank. Well... perhaps at least this could translate into a couple new jobs?

8. But at least there is some relief being offered for prescription medicines, as two large U.S. supermarket chains offer free antibiotics to customers through the rest of the winter.

9. The Washington Post includes castration of executives as something that will be in for 2009, whilst executive compensation will be out. So... I think I'll pass on that offer that just appeared in my inbox to apply for the position of CEO at AIG...

Yes... 2009 will be an interesting year.

(Originally published at The Creating Wealth Blog on 1/9/09)