Today I was at my lawyer's office to check on some property. After we had finished our business, we started to chit chat. She told me she hardly has enough business now.

 

The firm is a firmly established one and quite large. She said that there just isn't enough business as some have closed and no one seems to be buying.

My understanding is that worldwide property sales are dead in the water.

On the other hand, I found the bars quite busy at the week-end, certainly much more so than in mid-December. I guess that is partly due to the lunar New Year.

It's also cheaper to buy booze than property.

It's also cheaper to buy booze than property.

I don't know. Have you seen the price of booze lately?

With the tremendous number of jobs being lost in thd US alone, it has to affect the world economy....and I am sure that some gays were in those job cuts.

 

And the experts seem to think that we aren't at the bottom yet....so what does the bottom look like???

 

I have a state government retirement income, but it could go the way of some of these companies, and result in a reduction or loss of benefits...not a pretty picture.

They say the state of california could go bankrupt. Already some state employees are getting IOUs instead of cash payments.

And the experts seem to think that we aren't at the bottom yet....so what does the bottom look like???

 

We wouldn't expect a household to maintain living standards indefinitely, whilst continuing to borrow & spend more than it is earning.

So why should it be any different when scaled up to a state the size of the UK, or even the US?

 

In the case of the UK, one could compound the effect by subsidising people who have no intention of working at any time in their life via the social security system.

Then we wonder why the productive side of the economy cannot compete under this burden.

They say the state of california could go bankrupt. Already some state employees are getting IOUs instead of cash payments.

 

Fortunately, I hope, the retirement funds in CA go to an organization called "Public Employees Retirement System", PERS. It is independent of the state, and several governors, including at least the last four, have tried to access those funds or borrow, but they have been blocked clear through the Supreme Court. So...fingers crossed..they will stay independent and not go broke on their own. It is run by a board, with members of the board elected by the contributors to the fund, and a couple of governor's appointees.

 

I guess there isn't anything I can do about it anyway!!

 

I am beginning to wonder if everyone should just max out every credit card they can get, and declare bankruptcy....the feds are bailing out the banks, and that way you could get a chunk out of it!!

 

If you maxed out your credit and don't have a job, you won't be flying.

 

A huge 777 from BKK to Bali was almost empty today. Anyone who wanted 3 seats to sprawl out and sleep could get it. Too bad it wasn't configured 2-4-2 as 3 seats do not enable me to fully stretch out.

 

Btw, the bulkhead is quite wide and on a full flight would be the best option.

 

Things are going to get ugly out there.

 

I'm waiting for the bankers to start jumping out of buildings.

A huge 777 from BKK to Bali was almost empty today

 

My last 2 flights in to BKK from Hong Kong were on Cathay Pacific 747-400s. Business class on both was less than 20%. I see that Cathay has now reduced its business class fares quite considerably - at least until the end of March, but probably for a good deal longer.

If you maxed out your credit and don't have a job, you won't be flying.

 

A huge 777 from BKK to Bali was almost empty today. Anyone who wanted 3 seats to sprawl out and sleep could get it. Too bad it wasn't configured 2-4-2 as 3 seats do not enable me to fully stretch out.

 

Btw, the bulkhead is quite wide and on a full flight would be the best option.

 

Things are going to get ugly out there.

 

I will assume that you weren't on Asia Air. They have reduced their cost for trips to Bali, and I understand that they are flying very full most of the time. Some of these airlines, including Thai, are going to have to figure out that people don't have as much expendable income, and they better lower fares, and increase service.

I'm waiting for the bankers to start jumping out of buildings.

 

I don't think the bastards will jump out of any buildings. They are too busy counting their 18 billion dollar bonuses they gave themselves with tax payer money.

Well maybe their soon to be laid off employees will "help" them jump.