The current so-called credit crunch can be blamed only on two things – capitalism and individual greed.

This country long ago sold out to a ‘want, want’ culture where too many people buy far more than they need, getting into debt to do so, and the rich keep getting richer.

The only surprise is that the economic downturn did not happen sooner,Êespecially as the cost of living in Great Britain has always been exorbitant.

If one good thing comes out of this mess it is that capitalism might be given the kick up the backside it so sorely needs and people might actually start caring about each other, as many face the same economic problems.

And let’s hope this year that as people have less money, the Christmas season – which seems to have already started – might be celebrated as the religious festival that it is and not an excuse to indulge in a rampant free-for-all of spending.

Paul Jenkins, Riders Way, Rugeley, Staffordshire.