…especially come late August. A fascinating statistic which Bernard Hickey drew to our attention yesterday at my favorite source of economic wisdom, Interest.co.nz. It’s a bit weird. Keep it in mind, it may save your financial bacon one day.
Read about it here at the Economist. Nobody seems to be sure why this is. Historically, it was thought to be because of farmers overloading the fractional banking capacity with funding for the spring harvest in the northern hemisphere but that’s no longer relevant. I’m wondering about the habit in Britain–and perhaps elsewhere north of the equator–of everyone taking their holidays in August. Do they hold out on addressing their financial problems–and abandoning their marriages–until the holiday’s over then overload the banks?