Crunchtime at Christmas
It's a wonder we don't all have splitting headaches.
For the last week, the Working Lunch office has been a cacophony of squeaks, squeals, songs and the occasional thud.
Someone - and we're withholding his name to protect his dignity (you owe me, Nigel) - decided that we'd use the Tech Shed this week to look this Christmas's must-have gadgets.
So Naga has been tottering around in "anti-gravity boots", Nigel has been playing with wind-up racing cars in the shape of members of the Royal Family, and Hannah and Polly have been making a mechanical Elmo chuckle, yell and burp.
Those "anti-gravity" boots are a bit of a menace. We can't use them in the studio as the safety officers think there's too high a risk of me tipping over. (They should see me after a night with Naga in the 成人快手 Club.) With all that high tech equipment around - not to mention all the glassware - they want us to be safe not sorry.
So I've used another of our gadgets to give you a sneak peak. It's a tiny camcorder that's the size of a cigarette box and it comes complete with a built-in USB, so once you've recorded your film you plug it straight into your computer, edit it around a bit and upload it to YouTube or your social network site. You might call it 'How to Bore Your Friends and Influence No-one in 10 Easy Movies".
If you like, go to my to see my video of one of our senior editorial figures make an idiot of himself. For once, quite intentionally.
What on earth has any of this to do with business?
Well, if you think about it - quite a lot.
For starters, there's the importance of innovation; in an economic world where countries like China do all the low-skills stuff and get smarter constantly, we'll only thrive though creativity and constant product development.
That's a whole other theme, for a whole other blog. If not a book or two.
Closer to our pockets, we all know that spending in the shops is a core part of the national wealth.
And the most important time of the year for the high street is Christmas.
Many retailers make the bulk of their yearly profits over the festive season. A good Christmas will make them; but for some this year, it will be a poor Christmas - and it will break them. Retail watchers say hundreds of companies are on their endangered species list this year.
So all those lists of "must-have" items that you'll see in your newspapers and magazines will become quite important to the retailers. They are sharply-honed marketing devices, with just one aim - to extract our cash from our purses and wallets.
Will it work? We usually splash out a bit more at Christmas, so the fall in shop sales last month doesn't automatically mean it's going to be gloomy on the high street.
And - as our friends at Capital Economics have pointed out - we had a minor spending spree in Christmas 1990 and 1991, despite the sharp slowdown in the economy then.
But the days of borrow and spend are long gone - credit is still hard to get for many. The interest rates we pay have been higher than the official lending rates for a prolonged period. Some retailers are not passing on that cut in VAT. Unemployment is rising. House prices are still sliding.
It all comes down to you. Will you carry on spending? Or is it time to cut back, and have a more restrained Christmas? Use the comments to tell me your plans.
Comment number 1.
At 2nd Dec 2008, the1beard wrote:Robert
The Credit is out there. BUT.
We're just worried about how we're going to pay if off.
Can we get a further advance on our mortgages 鈥渁 la Essex man鈥? Unlikely!
Are we safe in our jobs err NO.
It鈥檚 belt tightening Jim but not as we have known it!
It鈥檚 becoming a 鈥渄o we need to buy it鈥 it a 鈥渘ecessity鈥 period.
If your car is running fine (and they鈥檙e so well built now!) then may as well drive it into the ground and buy a new one when it dead.
If you already have 5 Flat screen tellies鈥 then the 6th can wait.
NECESSITY = NOTHING WILL SELL THE WAY IT DID.
Second hand CAR prices are in freefall at least 70% down.
Why buy one now when next year it鈥檒l be 30% cheaper.
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Comment number 2.
At 2nd Dec 2008, the1beard wrote:Sorry for typos in my first post.
Also wanted to add
It鈥檚 the heard mentality!
And
I heard it鈥檚 going to get much worst!
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Comment number 3.
At 3rd Dec 2008, bbbhappychick wrote:My grand gesture to the economy is to partially recapitalise the banks. To avoid a huge arrangement fee when my fixed rate ends in spring 2009, I'm busy saving up to repay the mortgage.
With luck, I'll be mortgage-free in 2010.
I have the disposable income and my job is secure but I don't feel affluent so I will not be spending (not that I spent much before).
The credit card is going nowhere, not even for fresh air though I wonder how long it will be before Barclaycard confiscate it for non-use?
I did think of changing the 4 year old car but the p/x value was so low that instead I've just bought new tyres & serviced it.
Seems those of us who can, won't and those who can't won't either. It doesn't look good, does it?
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