I find it interesting that there is so much panic in the UK over the "credit crunch" and current financial difficulties. Virtually every free sheet carries some doom and gloom front page headline, when effectively things arent that bad!
To be honest, I view the current conditions as more of a correction of overheating in the past, than a long term downward spiral.
Certainly, house prices are falling, but then again they have been hugely over-inflated. Certainly, there is pressure in the banking and finance sector, but then again there has been a lot of over-hiring, and over-payment in that industry for years. Certainly, your average person will start to feel the pinch, but again, this is to be expected.
Generally, most people have a higher standard of living and far more security than a generation ago. We have started to take for granted the fact that overseas holidays, luxury goods, a private car are a part of life, whereas actually these are what they say on the tin - "luxury goods" - and have to be earned, without being essential to our survival.
In my mind the more important factor to take into account, and act on, is the rising oil price. This should be a warning to people of worse to come. I believe that the world's oil resources have peaked, and that in future the oil price is only going to go up.
Instead of panicking though, people should start to change their lifestyles. Drive less, drive more economically, make use of pooling arrangements, fly less, take more local holidays, etc. We should also start to change buying habits, for instance by buying local produce that is not shipped so far.
What people need to realise is that the oil price not only affects transport costs, but also food prices and many other goods/services that rely on oil. I also feel that this is indicative of increased energy prices that will soon be coming our way.
Again, instead of getting all upset about this, people should start to invest in greener technologies, take necessary measures around the home to use less energy, and put pressure on businesses that use excess packaging/ignore their impact on the environment.
As you may have noticed, I run the risk of getting into a whole "green" debate here. But effectively I feel that the only way people in general will start to take notice of the need to conserve the environment is when it starts to hurt their own pockets.
I certainly feel that we all need to be proactive in tacking climate change, and thus in some way I welcome these increased prices, even though of course I am the first to moan when I have to fill up my petrol tank!
I am certain there are lessons for us all in what is happening around us at the moment. Perhaps we need to reassess our values, and what is important to us. Instead of focusing on "a letter to the chancellor", let's focus on how to ride out this temporary "recession" and make some lifestyle changes that will benefit us all in the long run.
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