Friday 19 November 2010

All Talk 66 - On The Unlikely Cause Of The Global Financial Crisis

Enough about Tempur...

HUTCHBACK
(distracted)
That's interesting!

DR. NOSTRUM
No. Oh, Is it?

HUTCHBACK
Well, sort of vaguely... not really
interesting.

DR. NOSTRUM
What is it, a cricket score?

HUTCHBACK
No, no. If hull win today by 16
goals they go top of the league.

Football (soccer) discussion follows for several minutes
which I judiciously edit out for your reading 'pleasure'.
Then.

DR. NOSTRUM
(on the curry)
Right, it's ready, do you want any?

HUTCHBACK
Yeah, sure.

DR. NOSTRUM
Do you have... You don't have a
microwave.

HUTCHBACK
Yes of course we have a microwave.
No modern Human can live without a
microwave.

DR. NOSTRUM
Even Tramps.

HUTCHBACK
They walk around with them.

DR. NOSTRUM
Yeah. Looking for power outlets.
Actually, that's not a bad thing
too, if Tramps, for food, you give
them food, ready made food... and
someone says to them "Have you got
a microwave?" (Tramp replies) "Oh,
yeah, yeah, I've got a microwave"

HUTCHBACK
(matter of factly)
Yeah.

DR. NOSTRUM
"Of course I've got a microwave."
(pause) "I haven't got a house."
This second life thing, Aussie
Chris had a good idea: talking
about real estate and how the real
estate in Second Life is going up,
which it is, which is really
strange in itself, but you know,
and that people are speculating...

HUTCHBACK
(overlapping)
People are now speculating on
Second Life real estate...

DR. NOSTRUM
No, they do...

HUTCHBACK
(disparagingly)
Fucking Hell.

DR. NOSTRUM
... and he said, "well, I could
sell my house." He said "I might as
well sell my house and buy an
island and just walk ar... you
know, just live on the street with
my computer."

HUTCHBACK
Yeah.

DR. NOSTRUM
So if somebody says "Where do you
live?" You say "I live in
there."...

HUTCHBACK
Yeah.

DR. NOSTRUM
... "It's going up."

HUTCHBACK
Yes. You see, I think this
perfectly exemplifies the stupidity
of the housing market, that: you
buy a house to live in, not to make
money out of.

DR. NOSTRUM
Yeah, well, but, I'm not sure. I'm
not sure what Second Life is
dependant on at all, can you
imagine Second Life having a
financial crisis?

HUTCHBACK
(imagining)
Well.

DR. NOSTRUM
Well, I mean the idea that banks on
Second Life have speculated wildly
against the price of rising
imaginary real estate...

HUTCHBACK
Mm. And the value of the imaginary
money is now worthless.

DR. NOSTRUM
But also that...

HUTCHBACK
The imaginary money is now
worthless.

DR. NOSTRUM
... their valuation was completely
unrealistic.

HUTCHBACK
Yeah.

DR. NOSTRUM
Cause it doesn't exist.

HUTCHBACK
In fact, the whole international
crisis is caused by people
offsetting bad debts into mortgages
in Second Life.