Archive for October, 2008

A neon explosion at 8000rpm

Tuesday, October 21st, 2008

It was a dark and stormy night… Ok, maybe that’s an exaggeration, but it was just after 19:30 and it was raining. Not a proper rain, not a hard Highveld thunderstorm or anything dramatic, but that soft soaking rain that manages to get in everywhere if you give it long enough.

London transforms at night; It goes from this sad grey city populated by these sad grey people into a mess of sodium and neon, and when it rains you get bonus reflections off of everything. I had one simple job – keep Bird Flew shiny side up all the way from Islington to home with bonus points for keeping the rain from going down the back of my neck.

In the dark with the rain pouring down and the visor dotted with drops, it’s like you’re in another world. Tip the bike into the first big turn, wait to see the exit of the corner and turn on the power… there’s a slight wobble as the back wheel spins up a little, but the Michelins do their job and grab the tar. Then it’s time to sit and wait through a couple of sets of lights.

Around Liverpool street there’s an intersection that fascinates me. It’s one of the longest red lights on my run, but it’s lit up like a stadium for a night game of rugby. Most places have street lights that illuminate, but this crossroad wants to be seen. From space. As you approach it you get the feeling that you’re driving into a sunrise and for a few seconds after you leave it, you believe that the world has become very dark, but it’s just your eyes adjusting back to normal.

Every turn, every stretch of blacktop has lights reflected in the wet sheen of its surface. Sometimes they’re the sickly yellow of sodium, other times a clear white light from someone running HID lights and others a blue or an orange reflected from a sign. On the quieter stretches where you’re taking it slow, you can see the occasional vibration sending concentric circles outwards on a particularly big puddle and the lights wobble at you. Other times you’ll catch a glimpse of a perfect reflection exploding into a thousand drops when the front wheel blows through the water, like a mirror shattering into shards… a neon explosion at 8000rpm!

As I clear the last high-speed section far too fast, I find myself hugging the tank tightly and leaning into the corner that takes me up the ramp. Straighten it up, wind the throttle open, hold on and I’m nearly home.

Yep – last night I had to do 11 miles in the wet, over bad road surfaces while surrounded by idiot cage drivers trying to kill me out of sheer apathy, through a new road layout that was designed by a drunken chimpanzee going through Ritalin withdrawal.

But when I left the office I was tired, angry and depressed. By the time I got home it wasn’t all sweetness and light, but at least I’d had a smile on my face for a while. Who’d take the tube huh?

Keep bailing, the water’s rising!

Thursday, October 16th, 2008

You may have heard that you, the taxpayer, are bailing a load of banks in the UK out. You may have heard that 20bn quid of your money has been dumped into RBS. Reliable sources like the BBC and City AM are telling you this, so it must be true, right? Wrong – they’re a bunch of lying pricks. I’ll try to explain…

Firstly, I’ve heard a lot of people saying that they’d like the government to bail their mortgage out like they’ve done for the banks. Be very, VERY careful what you wish for, because you’d kick yourself if you got it. The first part of the bailout, the part that has either happened or will happen soon is that the government are giving RBS £5bn. At 12% interest. How would you feel about your mortgage interest rate shooting up to 12%? Still want that bailout? Didn’t think so.

Where else can you, the taxpayer, get 12% on your money right now? Your previous best bet was the Icelandic mob (who I think the UK is now at war with, seeing as we’ve invoked the terrorism act to seize their assets?) at 7%. So the government are actually making a very shrewd investment with your money here.

The next part of the bailout has definitely not happened yet. The government have NOT given RBS the other £15bn. The way that chunk works is that new shares will be issued (remember the rights issue that the press misreported on so enthusiastically earlier this year?) to existing shareholders at the very least. I’m not sure if non-shareholders get to participate, but the shares are first offered to people who aren’t the government.

The government will underwrite this new issue and any shares not bought will then be bought by the government. So there’s a chance that the government will have to kick in that full £15bn, but does that really seem likely to you?

Regardless of how much money the government may eventually inject into these banks, the important thing to note is that they haven’t yet. But that doesn’t seem to stop the press writing about this as if it’s done and the money has left the Bank of England accounts and arrived in the accounts of RBS, Lloyds TSB, HBOS, et. al. There’s a word for this telling people something has happened when it hasn’t – lying.

Now if the BBC and City AM are lying about this particular issue, what else are they lying about? What else are they exaggerating and causing panic with?

We’re letting ourselves get talked into a recession, and admittedly things are bad, but it really doesn’t help that the press are making them worse.

They say that time heals all wounds

Friday, October 10th, 2008

It’s a total lie, but they say it anyway.
Some things hurt even more nearly a decade later than they did a year on.

Life is hard some days, but what choices do we get?