Friday, October 17, 2008

The Man in the Street and the Market

The following is a guest post contributed by Lisa Pham, an Australian writer who is currently studying journalism at Sciences Po in Paris.

“I have no faith in the stock exchange, and this crisis proves I’m right.”
By Lisa Pham in Paris
October 15 2008

As the sun warmed the Parisian streets, market goers were making the most of their Sunday morning. Marché d’Aligre is one of the cheapest fruit and vegetable markets in the French capital, with buyers queuing up for bananas, fresh cauliflower and ripe tomatoes.

In a week that saw the Paris Bourse experience its worst ever single-day loss, the impact on daily living costs for French people has not yet been felt.

“We don’t yet know how the government is going to react,” says Vincent, a 40 year-old employment researcher. He keeps his money in three different bank accounts: ING Direct, Caisse d’Epargne and Banque Populaire. “I have no faith in the stock exchange, and this crisis proves I’m right,” he says.

For 49-year-old Alain S., an engineer, the plummeting shares have little impact on his routine. He and his wife are at the market doing their weekly shopping. “We don’t have any shares, so we’re not worried,” he says.

Vincent M., a student, shares this sentiment. “I know it’s being talked about a lot, but I feel like the situation doesn’t concern me directly just yet.” The long-term effects of the financial crisis are unclear, in particular whether price hikes should be expected. “I have simple habits,” continues the 21-year-old, “so not much will change.”

Many market goers are hesitant to comment on the situation because they feel like they don’t understand what’s happening. Nevertheless Mohamed, a 36-year-old electrician, is nervous about the future. His wife even more so. “We don’t have much money,” he explains. “We have some savings in the bank and my wife says that we have to withdraw it all.”

Their fear is reminiscent of the Great Depression of 1929, when customers took money out of all their accounts because they were worried about the banks becoming insolvent. This, however, only deepened the economic damage.

Does Mohamed trust his bank? “Not at all,” he replies staunchly. Fearing unemployment and inflation ahead, he and his wife are trying to pay more attention to what they spend. Shopping at the Sunday market is cheaper than at grocery stores.

Similarly 54-year-old Fateho, who works in opinion polls, is being careful with her money. “I’m looking for the cheapest things,” she explains, “I check out each stand when I’m at the market. I’ve decreased my spending habits and I’m trying to cook more at home.” While she says she has confidence in her bank, it’s a little shaky. “Touch wood!” she jokes.

For Cristina, a 31-year-old teacher, it’s too soon to predict what consequences the financial crisis will have on the French economy. If prices increase she’ll inevitably change how she spends money, but if not, she thinks it will be the same. “Maybe less travelling,” she admits.

1 comment:

Anonymous said...

^^ nice blog!! ^@^

徵信, 徵信網, 徵信社, 徵信社, 徵信社, 徵信社, 感情挽回, 婚姻挽回, 挽回婚姻, 挽回感情, 徵信, 徵信社, 徵信, 徵信, 捉姦, 徵信公司, 通姦, 通姦罪, 抓姦, 抓猴, 捉猴, 捉姦, 監聽, 調查跟蹤, 反跟蹤, 外遇問題, 徵信, 捉姦, 女人徵信, 女子徵信, 外遇問題, 女子徵信, 徵信社, 外遇, 徵信公司, 徵信網, 外遇蒐證, 抓姦, 抓猴, 捉猴, 調查跟蹤, 反跟蹤, 感情挽回, 挽回感情, 婚姻挽回, 挽回婚姻, 外遇沖開, 抓姦, 女子徵信, 外遇蒐證, 外遇, 通姦, 通姦罪, 贍養費, 徵信, 徵信社, 抓姦, 徵信, 徵信公司, 徵信社, 徵信, 徵信公司, 徵信社, 徵信公司, 女人徵信, 外遇

徵信, 徵信網, 徵信社, 徵信網, 外遇, 徵信, 徵信社, 抓姦, 徵信, 女人徵信, 徵信社, 女人徵信社, 外遇, 抓姦, 徵信公司, 徵信社, 徵信社, 徵信社, 徵信社, 徵信社, 女人徵信社, 徵信社, 徵信, 徵信社, 徵信, 女子徵信社, 女子徵信社, 女子徵信社, 女子徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信,

徵信, 徵信社,徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 外遇, 抓姦, 離婚, 外遇,離婚,

徵信社,外遇, 離婚, 外遇, 抓姦, 徵信, 外遇, 徵信,外遇, 抓姦, 征信, 徵信, 徵信社, 徵信, 徵信社, 徵信,徵信社, 徵信社, 徵信, 外遇, 抓姦, 徵信, 徵信社, 徵信, 徵信社, 徵信, 徵信社, 徵信社, 徵信社, 徵信社,徵信,徵信,