Inflation and Panic Takes Over

I have been thinking about reasons why England continue to lose at cricket, football and Lawn Tennis – games “invented” by the English. Is it possible, at least in relation to cricket, that a reason may be the lack of nerve and how easily the English panic, unable to regroup and tactically play differently?

For some strange reason I am led to this reason from a totally different event: that of the recent focus on the economic situation, the rise of the price of fuel and food and how quickly this nation and the rich countries whip themselves up into a panic mode. It may be that we have become so wrapped up in ourselves that this is the best we can do.

Why is it that when the Governor of the Bank of England utters his holy economic views that what we end up with is a divine economic revelation on inflation? We are told it will continue to rise increasing the risk of ‘stagflation’ of the British economy. Fall in house prices (long overdue given the ridiculous value for a roof: and it is cheaper to build it yourself), rise in food and energy prices – all of which would push consumer inflation above 4%. What are these folks concerned about: their profit margins, their balance sheets or human well being?

Even the uninitiated in economics can tell that that our economic ‘reasonings’ are skewed. What are these people talking about with their 4%, 3.3%, 4.3%, and 3.1% increases, instead of a 2% target for inflation? What should countries like, Guyana, Jamaica, Haiti and numerous African countries with their 165%, 215% and 300% inflation think about this present conversation? In these countries one needs a truck or bullock-cart to transport the local currency to do a Saturday ‘minimalist’ market shopping: that is if you can find the money in the first place! Yet, these people do not panic: they do magic with their very limited economic means and overnight (real or imagined) they turn into economic migrants! That, I concede, may be something new for the English!

The talk of and panic around the 4% inflation is morally disgusting and scandalous when placed in a global context. Of course, a reality is the fact that those who will suffer most in the UK are not people whom the economic policy makers and pundits have in view. Do you think they are considering the folks who share in the £1.4 trillion of personal debt in the UK? In fact, the theory is that we need to spend more, borrow more and get into debt in order to feed the economic engine. Who do you think are the ones to save? Perhaps, all the CEO’s and Corpocrats can begin by taking a 100% reduction on their yearly income or if this will cause them to suffer from extreme deprivation they can at least do all the shopping, borrowing, and saving to keep the economy from overheating!

Amateur as I am at economics, I am certainly aware of what a small percentage increase of inflation will mean in terms of the loss of revenues (over £9bn to be added to the shortfall already in place). But at what point are we going to talk about changing life-styles, spending less on rubbish commodities and unnecessary things, doing economics differently, making sacrifices, raising taxes and seeing how the revenues are translated in real services?

The more we continue to want to live in and blow economic bubbles around us – the more insecure and unpredictable our economic life will be. Panic, then, will more than often be our lot – just a prick away from disaster!

© copyright Jagessar July 19, 2008

Bishop of Rochester & the Limits of Inculturation

It is hard to imagine the claim that the Bishop of Rochester was the most liberal “sounding” speaker at GAFCON (Church Times, 27 June 2008). That gathering must have been terrifying! But then, who says that liberal sounding priests, bishops and theologians are really “converted” and “open”? For, among liberal sounding people one can find some of the most contradictory and un-deconstructed individuals, with the operative word here being “sounding”, more than actually being liberal. Scratch hard and what you find is one hell-bent conservative!

Just following the excerpts as reported in the piece in Church Times one can already sense a number of contradictions in a conservative Anglican leader. The views, for instance, that inculturation should not mean “capitulation to culture”, that change and development must be principled, diversity needs to be legitimate, the church should be conciliar, have a healthy view of apostolic teaching, and the need for a detailed study of the bible are all revealing sound-bites.

What does the Bishop of Rochester actually mean? I wonder if he is aware of how much of what he has received as Anglicanism is wholly steeped in Englishness (including the English good manners quoted in the article) and English white identity. He should do some postcolonial reading of the history of the bishopric of Rochester and take a good look at his mirror the next time he dresses up for an ordination service. Capitulation to culture? Certainly nothing Pakistani here! Such is the un-deconstructed hypocrisy, for which Jesus had a word: whitewashed tombs. What the good bishop needs to learn is that every form of inculturation is already a compromise – even the way that God revealed Godself to the world!

What about this matter of a conciliar? This is commendable indeed, but why a separate gathering and non-attendance at Lambeth – especially since he is making a case for unity as a precious thing (even with diversity). One cannot help but think that what the bishop means is “authoritative uniformity.” Perhaps what the Anglican Church needs is a conciliar system to discern when to fire bishops who wield power illegitimately and bring shame to the “fullness of life agenda” of Jesus!

And furthermore, who will be the ones to determine what legitimate diversity is? Any good student of church history and the development of theology could see that what we have received as apostolic tradition and canons are not value free, falling out of Cloud 9, but shaped and steeped in the culture and power of a white male world that gave agency to uniformity, stifling and shutting out diverse voices.

Indeed, there is a need to study the bible. But more than what the bishop is suggesting is the need to see the imperial contexts of the bible, the colonial schools of interpretations that have shaped the Anglican ecclesial tradition and how these very inspired texts are in fact the conundrum. Certainly, words about God - not from God!

Perhaps honest conversations and free space for God’s Spirit to move unimpeded by Bishops and Church will bring the renewal that the Bishop seeks. The only catch is that it will be unpredictable, for not even what we have received as the Apostolic tradition can bring closure on the Divine.

© copyright Jagessar July 1, 2008

Image Credit:news.bbc.co.uk/1/hi/uk/451898.stm

4% Inflation & Panic Attack

I have been thinking about reasons why England continues to lose at cricket, football and Lawn Tennis – games that they have “invented”. Is it possible, at least for cricket, there is a connection link to the mental nerve and how easily the English panic, unable to regroup and play differently?

I am making this link as a result of the recent focus on the economic situation, rise of the price of fuel and food to further underscore how quickly this nation and the rich countries whip themselves up into a panic mode. It may be that we have become so wrapped up in ourselves that this is the best we can do.

Why is it that when the Governor of the Bank of England utters his words that what we end up with is a divine economic revelation on inflation: it will continue to rise increasing the risk of ‘stagflation’ in British economy. Fall in house prices (long overdue given the ridiculous value for a roof), rise in food and energy prices – all of this would push consumer inflation above 4%. What are these folks concerned about: their profit margins or their balance sheets?

One cannot help but feel that our economic ‘reasonings’ are skewed: what are these people talking about with their 4%, 3.3%, 4.3%, and 3.1% increases, instead of a 2% target for inflation? What should countries like, Guyana, Jamaica, Haiti and numerous African countries with their 165%, 215% and 300% inflation think about this present conversation? In these countries one needs a truck or bullock-cart to transport the local currency to do Saturday ‘minimalist’ market shopping: that is if you can find the money in the first place. They do not panic: they do magic with their little economic means and turn overnight into economic migrants! That, I concede, may be something new for the English!

The talk of and panic around the 4% inflation is morally disgusting and scandalous when placed in a global context. Of course, a reality is the fact that those who will suffer most in the UK are not those whom the economic policy makers and pundits have in their view. Do you think they are considering the folks who share in £1.4 trillion of personal debt in the UK? In fact, the theory is that we need to spend more, borrow and get into debt in order to feed the economic engine. Who do you think are the ones to save? Perhaps, all the CEO’s and Corpocrats can begin by taking a 100% reduction on their yearly income or if this will cause them to suffer from extreme deprivation they can at least do all the shopping, borrowing, and saving to keep the economy from overheating.

Amateur as I am in economics, I am certainly aware of what a small percentage increase of inflation will mean in terms of the loss of revenues (over £9bn to be added to the shortfall already in place). But at what point are we going to talk about changing life-styles, spending less on rubbish commodities and unnecessary things, doing economics differently, making sacrifices, raising taxes and seeing how the revenues are translated in real services?

The more we continue to want to live in and blow our economic bubbles – the more insecure and unpredictable our economic life will be and panic will more than often be our lot.

© copyright Jagessar July 1, 2008