Ruminations on the electronics industry from David Manners, Senior Components Editor on Electronics Weekly.
Hedgies And Povvoes
Of course everyone has contempt for the Hedgies – the hedge fund people who were selling bank shares short when governments were spending zillions trying to keep the banks afloat. The politicians gave the Hedgies a good thwacking.
Now the Hedgies have hit back at their critics dubbing them ‘Povvoes’ – short for impoverished.
The politicians particularly hate being called Povvoes because it makes them feel demeaned.
Even the shortest spell at Westminster seems to make a pol feel he should live like a lord – moats, duck houses you name it.
Being dismissed as a member of the impoverished classes by the despised Hedgies hits a pol hard.
But it looks as if the rest of us will have to get used to being Povvoes. The pols rabbit on about the cuts, how deep they will be, and how years of Povvoe-ish austerity lie ahead.
Brits tend to like this sort of stuff. Offer a Brit blood, toil, tears and sweat and he perks up a bit. Bring it on. We can take it.
Povvoe could become a badge of honour, something Hedgie never will.Tags: hedge fund, hedgies, pols, rabbit, westminster