It is said that during an economic down-turn the only growth area is in pawn shops. Today that may equate to the 'Money Shops' that appear on the high street; one has just popped up in Mold. They offer short term loans, buy gold, and sell foreign currency, but they are not Banks. I have a feeling that this cannot be a good thing.
The other economic activity that appears to be booming are the 'pseudo' 'legal' firms seeking to take on spurious 'blame' cases. I had a call the other day from one such company wanting to seek compensation on my behalf for the trauma I must have suffered as a result of my credit card company raising my limits without sufficient consultation. The man, who said it was my lucky day, claimed that the Financial Standards Authority had specifically asked him to help me gain rightful recompense for my suffering. Of course there is fun to be had here and on questioning this hapless young man did not know what the FSA did, or anything about my credit card (thankfully). The other cold calling scam involves seeking redress for even the most minor accident; I witnessed one yesterday over a slight car bump that took place a few years ago. Surely, they pleaded, there must have been some trauma, or even a few bruises.
These scams are hugely costly to everyone and impact upon the genuine claimants who have been abused by the rapacious financial sector, or injured through no fault of their own and need financial support as a result.
This type of activity merely reflect our own serious economic situation.
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