When the term ‘credit crunch’ was first banded around, and doom-mongers were predicting a great recession of 1930s proportions , everybody looked for visible signs of the financial crisis.
I recall thinking that the closure of a large electronics/ household goods superstore near where I live was the shape of things to come.
However, Capitalism is, if nothing else, a resilient beast and there were no mass closures and banks have largely ridden the storm. Perhaps there were a few more budget stores opening but by and large the high streets and shopping malls look much the same.
My home town (Cesena) is, admittedly, quite affluent with money generated primarily by thriving agricultural production and associated businesses.
Recently, however, I’ve noticed a surge in two probably unrelated areas that indicate that all is not as hunky dory as it might initially appear. Continue reading
