Wednesday, Nov 19, 2008
Not all that bad eh!
BBC News: The brighter side of the credit crisis
Going on holidays is the right thing to do.
Posted by fjcruiser @ 06:19 PM (723 views) Add Comment
13 Comments
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1. Quad said...
And why not indeed!
Your flat will be worth 135k Less
Your tennants will probably have lost their jobs as well, and be squatters.
There will be even less jobs around.
Your pension will be worth nothing.
Would love to go surfing though.
2. str 2007 said...
In a way this is something I should have done in the last recession.
However in the last recession you could put savings in a bank and get 10-15% interest on them.
This time around no bank is that safe and interest rates are heading down fast.
This guys got another shock coming when he goes to exchange his holiday money, then another one when he finds he can't even rent his flat out.
Still hope he learns to surf and comes back with a new skill.
3. fjcruiser said...
he could always go to the beach and bury his head in the sand.
4. jack c said...
Lets also hope he can find an airline thats still in business to fly him back.
"I'm going to sit on a beach and learn to surf then come back and see if there is anything left" I presume they missed part of the sentence out and it should read "I'm going to sit on a beach WITH MY HEAD IN THE SAND and learn to surf then come back and see if there is anything left.
5. crash n burn said...
Oh dear!
6. Dazednconfused said...
This guy is Captain Screwed of the good ship Shafted.
And there will be millions more like him.
7. Dead Spider said...
This article is over a month old .
"My money in Bradford and Bingley is safe but I'm still not sure what will happen to my money in Icesave."
/
"I'm going to sit on a beach and learn to surf then come back and see if there is anything left.
Well you've just screwed up the admin on your Icesave re-payment .
8. little professor said...
Sadly too indicative of the youth of today. He gets a 'windfall' redundancy payment, and instead of trying to secure his future he splurges it on frippery.
9. doom&gloom said...
I think it's a great idea. Except for the flat-buying bit. Drop out of the system as much as possible by taking your capital to a lower-cost economy. Just have to ensure your capital is as safe as possible (spread of currencies, gold, etc). Exactly what I plan to do as this country accelerates towards chaos. Staying here just means you'll have to fund the bank bail-outs and increasing welfare payments through your taxes. But the flat-buying really was a really bad idea.
10. Watchingthewheels2 said...
If only he'd sold his flat to a greedy buy-to-letter before august '07.........
11. shipbuilder said...
Perhaps what this guy is doing is enjoying life rather than obsessing over every drop in house prices or rises in stocks or gold. Maybe we can learn a wee lesson there.
12. 51ck-6-51x said...
If my plan were to go on holiday for a year, and not planning on working during that trip, as he is I don't think I'd go to Oz, I think Cambodia, Laos or India would be far better choices as they would not cost anywhere near as much.
13. doom&gloom said...
Yes SE Asia has to be the favourite for a low-cost existence. Could live there for years with no money concerns.
The chap in the article is just going to blow his redundo, get further into debt in oz if anyone will lend to him, then come back and cry a river of tears when he sees what his tenants have done to his flat. Then bankrupcy.