Alex Massie

The Long Arm of the Global Financial Crisis

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It reaches everywhere. This from a guy just released having serving two years for armed robbery:

I joked to my cell mate on the first day that at least the GFC [Global Financial Crisis,] couldn't fuck us inside. He'd been done for assaulting a cop when his house got taken by the bank. But within months 'GFC Nigger' became the standard reply to any query as to how black market prices were suddenly going through the roof. The price of a deck of smokes tripled. There was an actual economic reason about this. I went away in Michigan, where a lot of people lost their houses, mostly poor people already. When they had to move away from the prison, it meant they couldn't bring their loved ones as much contraband group, which meant the price of what there was sky rocketed....Bet you didn't read about that one in the Wall Street Journal.

Much more here.Bottom-line: stay out of prison.

[Hat-tip: Alex Tabarrock]

Written byAlex Massie

Alex Massie is Scotland Editor of The Spectator. He also writes a column for The Times and is a regular contributor to the Scottish Daily Mail, The Scotsman and other publications.

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