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Tuesday, 7th October 2008
Poor Old Lakshmi
By aetjones

Poor Lakshmi Mittal. It seems he used to be worth 33 quid and now he’s only worth 16, thanks to the fall in steel prices. What? Sorry, say that again. Oh, 33 million – thanks for that – 33 million quid. And now he’s, sorry, I can’t quite…. Say that again… Oh. Oh right. 33 BILLION quid, and now he’s only worth 16 billion quid. Poor fella. If I ever see him crying into his pint, I shall buy him a bag of crisps. If my worth had halved in a year, I’d be a bit gutted. But, what is ‘worth’? The banks lost 1.4 trillion quid from their worth in the States today. That’s a TRILLION Lakshmi. More than what you got. Now my bricks and mortar has probably lost about an eighth of its value in a year, in doing so, cutting my ‘worth’ by, well, about an eighth. So, in an effort to keep myself happy, I have decided that such was my relatively low exposure to the ill effects of a global economic downturn I have maintained my net worth at a relatively healthier level than Lakshmi and the banks. So boys, I am walking around with my head held high today, cocking a snook at the high street banks as I pass by, and saluting my own tidy fiscal wisdom as the business pages tell of mayhem and destruction.



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