Surviving the credit crunch
As one of the largest insurers in the world receives an $85 billion dollar bridge loan from the United States’ government, and some of the largest and oldest banking institutions fall by the wayside, what have I been doing? Wondering which mountain I will hike in the weekend
One of the great things, as the world goes into economic meltdown, is that a traveller tends to be on the outside looking in. Of course, some of you might have mortgages back home, or may be shrewd enough to play the stock market on your journey, but for the most part, the traveller is free.
Sure, rising fuel prices can put a strain on the wallet, but compare an extra $100 to lost college funds and diminishing retirement funds, which the ‘responsible’ world has had to deal with this week.
If anything, the housing market plummeting has handed a backpacker a nice, cheap monthly rent as they stop off for a stay in a city. I’d mentioned before that I sometimes yearn for the rat-race, and a career, and responsibilities – but this week I am blessing my lucky stars that I don’t.
Have any of you felt the impact of the global credit crunch – either beneficial or not?
September 20th, 2008 at 6:26 am
it’s true to say that every one will have some exposure to this nonsense. and unless you will spend all your life travelling and have some kind of income from somewhere then us mere “respondible” ones have to think about college fees and retirement plans which the wonderful UK Labour government have messed up for us.
we had free education once!
September 20th, 2008 at 9:33 pm
Like you said in your post, I feel like I’m on the outside looking in, reading about the latest financial horror story in the news. It’s definitely affected my decision to work in Taiwan for at least another year. I’d hate to return to the states and find a job under these economic conditions.
The cost of living here is relatively low compared to my salary, so I’m trying to save up money to make a down payment on my own condo when I do finally move back to America. Probably in a year of two. If housing prices keep declining, that might actually help me to get a better deal on a property.