Credit Crunch - where ?

Its on the news daily and in our minds constantly as the recession bites. We all know that the recession has been with us for a year but like the financial elephant in the room the government has been trying to ignore it. Today in Chester shoppers were doing the same. If the government tax bandits were here now they would be rubbing their grubby nail bitten hands with glee.

On Monday VAT falls by 2.5 percent which will give you half the cost of a Mars bar back on most items. The things we need most like Petrol will of course be re-taxed to a slightly higher rate to recoup the money ... and a little more. in true stealth bandit style.

Every morning the retailer bosses line up on breakfast television to announce eye watering loses after decades of profits reaching into many Billions. Billions given to shareholders and not saved for this very rainy day that has sprung upon them. Its like watching an alcoholics club all coming out and saying they have been binging to excess and are now recovering by sharing the experience.

This Saturday the shops are full and most of the deals are modest. Clothing and jewelry stores are doing well while Curries and Argos seem empty.

Could it be that financial woes have slowed our consumption of electronic goods or we simply don't have room for a third wide screen tele or a tenth iPod.

Is our usual average spend is unchanged ? - The odd tenner taken off a shirt or jumper is welcome but unlikely to solve your financial problems.

Could it be that a wide screen TV for six hundred quid at an interest rate of 20 percent. - actually does finally make a difference.

The credit crunch is certainly returning people to replacing items when they break and not just because the technology or fashion is superseded. That is not good news for the downing street tax bandits who are hoping we will all add another five hundred quid to our credit cards on the back of our 36p vat windfall.

Do they really think we can solve the recession by getting another wide-screen television for the downstairs toilet. ?