Neologisms of an economic downturn
The looming worldwide recession, the credit crunch and the current financial markets crisis certainly leave little room for humour. But in reality in many tragic situations human nature has the ability to dampen the more depressing effects of such...
The looming worldwide recession, the credit crunch and the current financial markets crisis certainly leave little room for humour. But in reality in many tragic situations human nature has the ability to dampen the more depressing effects of such unpleasant situations, albeit through the adoption of slightly black humour.
The recent economic and financial markets turmoil has given rise to the coining of a number of new words and phrases that describe some of the social effects of these negative forces. I will not bore you with the arcane jargon used by the financial media, and will just give you a sample of the more exotic terms that have been coined recently and that are somehow spiked with humour. Do not look them up in a dictionary because you will not find them.
Recessionista: This is a person who manages to look fashionable on a tight budget. Rather than buy the usual designer suit made by Gucci or Armani, a recessionista now resorts to buying his suit from one of the high street stores in Oxford Street. In the book How To Be A Budget Fashionista Kathryn Finney states: "People are looking at shopping and consumerism in completely different ways. People are proud to be bargain hunters."
No wonder low-cost supermarkets, including locally, are winning market share from the more posh upmarket stores. The choice of brands may be smaller, but the savings on the food bills are not insignificant. A true recessionista is a passionate promoter of his newly discovered values and does not shy away from recommending his style of living to his friends.
Staycation: Staying at home for your holidays in a bid to save money. This could well start to hit us with British holiday makers deciding to spend their holidays in the UK, squeezed as they are with the pincer effect of a weak sterling and a stagnant economy. So far there are little signs of the Maltese embracing staycation, but only time will tell whether this will become a new craze among us too. Gozo will no doubt benefit from this new trend if it is adopted by the Maltese.
Hypermiling: Techniques used by drivers to get more miles to the litre, such as coasting in neutral and keeping tyre pressure high. This is not a very safe tactic, even if it may look environmentally friendly as it cuts on the use of petrol and diesel. So do not expect an endorsement of this euro-saving behaviour by either the government or the opposition spokesmen for the protection of the environment. In fact, it can be seriously dangerous to cruise with your car on neutral gear.
Fakeaway: A home-made belt-tightening version of the takeaway - think of a mixed grill of seafood comprising lampuki and octopus bought from the local fish shop, cooked at home, with a home-made caper sauce made with cheap in-season tomatoes and herbs grown in the garden - and all this for a fraction of the price of a ċipullazza eaten at a seafront restaurant whose owner seems to believe that money easily grows on trees, and charges accordingly. But the spiralling cost of food goes far beyond getting used to fakeaways. A YouGov survey conducted in the UK among 2,000 people found that more than 28 per cent said they often used leftover meat and vegetables in either home-made curries or stir fries. Why are such surveys never conducted in Malta?
Nearer home, I have noticed that diners in our pizzerias are increasingly asking for their leftovers to be packed in a doggy bag, on the pretext that their dog just loves leftover pizzas - eaten at home, of course.
While the sales of the more fashionable and upmarket supermarkets in the UK have started to slump, one line which seems to be doing quite well is that of the ready-made meals. Alison Austin, the environmental manager for Sainsbury promoting the ready-made meals sold by her stores, says: "Buying the ingredients on the weekend and planning ahead or using leftovers can save a huge amount. Fakeways are here to stay." When one considers that a home-made sandwich could cost as little as a tenth of a ready-made one bought from a sandwich bar, the logic of getting in love with fakeaways becomes compelling.
To complete this short list of neologisms made necessary by the current economic downturn, I must not forget to add kippers - kids-in-parents-pockets-eroding-retirement-savings. Anyone who has kippers at home had better make the above-mentioned social fashions one's own, if one is to survive this meltdown.
Of course, it is not just "fat cats" that have been affected by the recent crisis. The local "fat cats" of business may seem anorexic when compared to their feline friends in the US or the UK, even if they have just-as-big egos.
But they, like the rest of us, are adopting more fashionable and less costly ways of coping with economic woes that are affecting us as much as anybody else. At least they are doing this in a graceful way, and in the process managing to bring a smile on the faces of those who have always had to skimp to survive.
The recent economic and financial markets turmoil has given rise to the coining of a number of new words and phrases that describe some of the social effects of these negative forces. I will not bore you with the arcane jargon used by the financial media, and will just give you a sample of the more exotic terms that have been coined recently and that are somehow spiked with humour. Do not look them up in a dictionary because you will not find them.
Recessionista: This is a person who manages to look fashionable on a tight budget. Rather than buy the usual designer suit made by Gucci or Armani, a recessionista now resorts to buying his suit from one of the high street stores in Oxford Street. In the book How To Be A Budget Fashionista Kathryn Finney states: "People are looking at shopping and consumerism in completely different ways. People are proud to be bargain hunters."
No wonder low-cost supermarkets, including locally, are winning market share from the more posh upmarket stores. The choice of brands may be smaller, but the savings on the food bills are not insignificant. A true recessionista is a passionate promoter of his newly discovered values and does not shy away from recommending his style of living to his friends.
Staycation: Staying at home for your holidays in a bid to save money. This could well start to hit us with British holiday makers deciding to spend their holidays in the UK, squeezed as they are with the pincer effect of a weak sterling and a stagnant economy. So far there are little signs of the Maltese embracing staycation, but only time will tell whether this will become a new craze among us too. Gozo will no doubt benefit from this new trend if it is adopted by the Maltese.
Hypermiling: Techniques used by drivers to get more miles to the litre, such as coasting in neutral and keeping tyre pressure high. This is not a very safe tactic, even if it may look environmentally friendly as it cuts on the use of petrol and diesel. So do not expect an endorsement of this euro-saving behaviour by either the government or the opposition spokesmen for the protection of the environment. In fact, it can be seriously dangerous to cruise with your car on neutral gear.
Fakeaway: A home-made belt-tightening version of the takeaway - think of a mixed grill of seafood comprising lampuki and octopus bought from the local fish shop, cooked at home, with a home-made caper sauce made with cheap in-season tomatoes and herbs grown in the garden - and all this for a fraction of the price of a ċipullazza eaten at a seafront restaurant whose owner seems to believe that money easily grows on trees, and charges accordingly. But the spiralling cost of food goes far beyond getting used to fakeaways. A YouGov survey conducted in the UK among 2,000 people found that more than 28 per cent said they often used leftover meat and vegetables in either home-made curries or stir fries. Why are such surveys never conducted in Malta?
Nearer home, I have noticed that diners in our pizzerias are increasingly asking for their leftovers to be packed in a doggy bag, on the pretext that their dog just loves leftover pizzas - eaten at home, of course.
While the sales of the more fashionable and upmarket supermarkets in the UK have started to slump, one line which seems to be doing quite well is that of the ready-made meals. Alison Austin, the environmental manager for Sainsbury promoting the ready-made meals sold by her stores, says: "Buying the ingredients on the weekend and planning ahead or using leftovers can save a huge amount. Fakeways are here to stay." When one considers that a home-made sandwich could cost as little as a tenth of a ready-made one bought from a sandwich bar, the logic of getting in love with fakeaways becomes compelling.
To complete this short list of neologisms made necessary by the current economic downturn, I must not forget to add kippers - kids-in-parents-pockets-eroding-retirement-savings. Anyone who has kippers at home had better make the above-mentioned social fashions one's own, if one is to survive this meltdown.
Of course, it is not just "fat cats" that have been affected by the recent crisis. The local "fat cats" of business may seem anorexic when compared to their feline friends in the US or the UK, even if they have just-as-big egos.
But they, like the rest of us, are adopting more fashionable and less costly ways of coping with economic woes that are affecting us as much as anybody else. At least they are doing this in a graceful way, and in the process managing to bring a smile on the faces of those who have always had to skimp to survive.