Thursday, Jul 16, 2015

Large screen TVs now a safe haven for cash

Guardian: Dixons Carphone profits rise 21% amid Greek panic buying

Dixons Carphone has reported a 21% rise in profits, in part helped by Greeks panic buying big-ticket items such as large-screen TVs as a safe haven for their cash amid the ongoing economic crisis in the country

Posted by mark @ 10:48 AM (4753 views)
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6 Comments

1. jack c said...

I suspect this article could now make the top 10 of comedy club classics. A country that is bankrupt and the citizens opt for the security of a new TV (lol) forget about hoarding tinned food and bottled water as everyone can survive on a diet of Jeremy Kyle and The Kardashian's

Thursday, July 16, 2015 11:23AM Report Comment
 

2. mark said...

Dixons Carphone’s CEO Sebastian James should be tackled by shareholders over such a stupid press release from Dixons

just like property large screen TVs keep going up in value so start hoarding cash as TVs

Thursday, July 16, 2015 02:29PM Report Comment
 

3. bidin'matime said...

But seriously - I was only saying just this morning that when you see footage of Greeks going about their daily lives as if nothing was about to hit them, it's like watching film of Paris living it up just before the war, or people on a beach ignoring the tsunami developing on the horizon in the background.

I was reading yesterday about a charity called Mary's Meals (named after the Catholic Holy Mary), which distributes school meals in Malawi (and other parts of the world) - to children who are thus motivated to attend school so that they get at least one decent meal (or even one meal) a day - and that consists of a sort of vitamin enhanced porridge. We live lives of luxury beyond the wildest dreams of those children - and they live lives of poverty beyond our worst nightmares. Yet we all live in the here and now - and there's just a geographical gap (ever shrinking, in practical terms) between us and them.

The Greeks clearly believe, as do most in the 'developed world', that this nightmare could never happen. Living standards only ever improve, don't they? So if you haven't got a big TV yet, and you think you might not have the cash for one in the future, then get one now - problem solved! What could possibly go wrong..? Tsunami? what tsunami...?

Thursday, July 16, 2015 02:39PM Report Comment
 

4. Ssabdb said...

Not as stupid as it might sound. Buy a brand new telly with a card and then flog it for cash and you've got around the capital controls. Simple.

Thursday, July 16, 2015 11:12PM Report Comment
 

5. jack c said...

bidin'matime - precisely, not much point in having a TV of any sort if the electricity supply to the whole country is off !

Friday, July 17, 2015 08:55AM Report Comment
 

6. Tpm said...

Greece can actually turn to domestic food production in case of Grexit. It is things like TVs that will be completely unaffordable.. And cars. But they generally don't care about driving old cars.. Also there are a lot of old power generators around.. though I'm not sure how they would buy the fuel for those ! Maybe they should be buying solar panels instead ...

Wednesday, July 22, 2015 01:59PM Report Comment
 

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