Wednesday, April 03, 2013

Banking continues changing and # 90 The Big Bang Theory

Banking Sector will continue to create concern for consumers and politician

I suppose that for many adults the topic of banking is something that causes concern.
If you were a retired UK citizen living in Cyprus you will have been having a hard time regardless of the bank you use, and the confiscation of funds there must surely have sent a shiver down the spines of many people with a 'nest-egg' sitting in a bank or building society.

It is (I think) coming up to 5 years since the real impact of the US  loans crisis hit and reverberations continue. The 2 alternative schools of thought for dealing with the sluggish economies of the West  that the media discuss  are between those wishing to 'balance the books' and those  wanting to inject money to 'create confidence' and revive demand - strangely both seem counter intuitive to a degree.

Is this the choice and will the next meltdown be even harder to cope with?
Does the modern economy reliant on productivity gains and increasing 'standards of living' itself have its own built-in obsolescence?
Co op bank prepares to move next door in Ealing

Productivity gains can continue according to those whop see further mechanisation/computerisation but how will the gains be shared around (interesting thoughts here on a great BBC World Service radio programme)?

What is the impact of increasing life expectancy and improved living standards in the developing world going to mean to us and our retirement plans?

The UK banking sector is changing with the Co-Op bank looking likely to move in on the deal to secure Lloyds relabelled TSB branches (as required by the European  banking regulator)  this follows the effective merging of Britannia and Co-Op.
Strangely in Ealing the Co-Op bank and Britannia building society have been almost nest door to one another and the merged premises will take over the empty premises between the two (see photo).
Also the Metro bank  (with a branch being constructed in the Ealing Town House premises) is beginning to surface in many UK High Streets offering a new less stuffy image of banking. Other developments here include the Bank of Dave (as seen on a UK Channel 4 TV show) an experiment that continues to excite some commentators.

So from (perhaps) the fallout of one big bang to the fallout of an even bigger one ...

Crofton's idea 90 is The big Bang Theory

As I've mentioned before seems that (current) conventional scientific thought is that universe is 13.7 billion years old it is also accepted by a large section of the scientific community that it all started with a Big Bang (as in the title of the hit US TV Situation Comedy and Barenaked Ladies song).

Key in the Big Bang Theory is the analysis by Edwin Hubble (1889-1953) that the universe and galaxies are in flux and (probably) expanding, sadly Hubble didn't get a Nobel prize when he was

Hubble dead men don't get Physics prizes

considered for a physics one he'd ruled himself out by being dead.

As the universe must have started with something the Bang Theory is at worst a straw man- You can see a summary of the theory here.

Theorists suggest we've got the Big Crunch to come with husband and wife team Renata Kallosh and Andrei Linde, saying it'll be here in between 10 and 20 Billion years time -(hope that the big banking crunch takes as long).