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About SMAC67

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  1. Not really, if you are a marginal borrower, then "yes", if I go bust then the entire financial system has collapsed. And that is what every government and central bank is trying to avoid. A vox pop over the years made me realise no-one cares anymore, debt is a way of life and most aren't too bothered about paying it off!! In fact, it's a very good way to get wealthy IMHO, take out debt, move it somewhere safe, renege on said debt, rinse and repeat. It's a business model that works!! in other news, the final stages of collapse continue apace, pictures at ten! Bong!!
  2. Buy a house and get a great big expensive millstone around your neck more like. Can't say I enjoy it, home ownership is always a pain AND I still spend too much time on DIY!! Power tools maketh the man ?
  3. The company lasted about 50 years, which is a good age, most don't survive this long. Like people, they are born, they live, they die, some of natural causes, others by dark deeds.
  4. PS: where have I been the last few years, travelling the globe, it's a big, scary, interesting place, full of a diverse mix of people and culture, my advice still stands, see it whilst you still can!
  5. One last thought re education and training. The main reason for the change in most industries, and I include aviation, is the fact that from the mid 90's people could borrow a lot of money at low low rates. By doing that educational institutions and companies could shift the cost to students and employees. Now young people pay large sums to get an education and indeed go to work. And people wonder why our economy is dying, debt, and lots of it, low interest rates continue to prove that we are still on our knees. Fortunately we have a cracking war around the corner to reset our e
  6. Can't believe this thread is still going, I just popped into HPC out of curiosity!! The aviation industry is still a complete basket case. In a nutshell, everyone is still trying to get to the stage where they are too big to fail! Unless of course they are Government owned!! It's just financial sleight of hand and subsidies that keep it all going a bit longer, and of course debt (Norwegian anyone?!) Just dined with my mate who owns his own financial services company, it's all about flight to safety at the moment. We all know where we are headed, we just need to guarantee access to th
  7. I was just having this conversation yesterday about how life was too important and valuable to be spent playing with gadgets and trolling the interweb. And yet here I sit merrily typing away as if what I say matters. It doesn't ultimately, as what is happening is happening. I simply turned up yesterday after a couple of years away from HPC to see if this thread was still alive, and it is! Wow, I'm impressed. I think it works as a pretty good gauge of the wider economy as aviation is the proverbial canary in the coalmine. It exists because of cheap oil and an era of relative peace. Both are in
  8. Thanks Bob, I don't like to think of myself as a doom-monger, merely someone who is observing a trend. Unfortunately the trend is going in the wrong direction. In 2007 I was concerned, now I am scared. Things are starting to get too close to home now. I now observe the same realisation is practically everyone I speak to, especially those heading for the dole Q. Some were sensible enough to pay off their mortgage and stay out of debt, others however, are up to their eyeballs and are very worried. Jobs are few and far between and your best option (or quite possibly ONLY option) is to head for t
  9. Really? The industry is completely "forked". Even a hardened cynic like myself is surprised at how quickly the situation is deteriorating. Where to start, the UK, Europe, andthe US is toast, the Middle East survives because of oil revenues and the Far East because of China. I'll exclude the latter because they have there own date with doom, the US carriers will consolidate until they end up with USAeroflot. So, meanwhile back in Europe. The Eurozone is finished and even the so-called low cost carriers have noticed that travellers are very price sensitive now. They all rely on growth, which is
  10. Those in charge don't seem to be very bright. The police are a private army to protect the small amount of rich people from the large amount of poor (and about to be poorer) people. Reducing their protection seems tantamount to them accepting their fate. The events at Millbank last week are but a small taste of what is to come. Maybe they will have to hire private mercenaries when the army is closed down. I reckon we will go back to our roots and like Somalia we will once again be the pirate nation. For the average man and woman the existence of the police force is an irrelevance.
  11. I guess you have never read a newspaper or magazine, watched TV or listened to the radio, walked down the street or been on the internet. The average person is now exposed to the same amount of advertising in 24 hours that they were once exposed to in an entire year (that year being 1950). I suppose the multi-billion dollar advertising industry exists for no other reason than to advise people to be sensible with their money. I guess you do not live in a community with other heirarchical creatures known as humans. Beings who are innately social animals who make individual decisions based on w
  12. The solution Charlie, and it's only a temporary one is, WAR, and lots of it.
  13. My street now back at 2003 levels. Neighbours just withdrew their property from the market after two years and no satisfactory offers. Location, a popular commuter town in the South East. p.s. According to the C.A.B. the denizens of our town also have the highest levels of debt in the SE, cool or what?
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