It is now possible to assign blame for the current economic crisis.
According to Alexis Petridis, who writes for the British newspaper The Guardian, it is the Australian rock band AC/DC to blame.
The venerable band’s latest release, Black Ice, just became the number 1 recording in Britain. The last time an AC/DC album reached number 1 was 1990 which was also the last time Britain suffered a recession.
In fact, every time the British economy has tanked since 1973, AC/DC has had a number 1 album.
Here are the incontrovertible facts:
Highway to hell
1973: AC/DC form in Sydney, Australia.
Economy: Start of the oil crisis, which saw the price quadruple
1980: AC/DC release breakthrough album Back In Black
Economy: Inflation in UK reaches 20% and unemployment nears 2 million
1990: AC/DC score comeback with The Razor’s Edge
Economy: Recession in UK imminent
2008: AC/DC top UK album charts
Economy: Biggest world recession in decades looms
Petridis feels that if the relationship is causal it goes like this:
AC/DC’s appeal in unpredictable times is straightforward. People crave something uncomplicated and dependable in a time of uncertainty, and rock music has never produced a band so uncomplicated and dependable as AC/DC.
Small wonder that people turn to AC/DC in their millions when the world appears on the brink of chaos. Here is escapism into a world untroubled by sub-prime mortgages, record public finance deficits and the baleful state of the FTSE 100, but escapism of the most comfortingly consistent kind.
Personally, I would prefer to round up the real criminals, all the libertarian, laissez-faire, supply-side, deregulating, Chicago Boyz, followers of the late “pure market” economist “Uncle Miltie” Friedman. We could dress them in British schoolboy knee pants and force them to listen to non-stop AC/DC. Unless, of course, the Bush Administration would call that torture.