 Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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nope !
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Flight prices and car rental prices seem to be a fair bit higher next season than they've been over the last couple of years. Is that credit crunch related, fuel prices, solar cycles, etc? Who knows! But I'm looking at driving and train prices to see which offers the best value for money.
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rob@rar, as well as deteriorating service from 'low cost' airlines... If there was an overnight sleeper train with couchettes from NL to London (where i am for this weekend) I'd use it over sleazyjet...
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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marcellus, blimey, 39, we were still up to our eyes with providing for the kids, and buying a bigger house to cope with their needs at that age! We must be doing something wrong! Do they make skis that attach to zimmer frames? 
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jb1970,
I did have a 10-year mortgage when I started and I paid it back in 8.5 years by maintaining the same payment when the interest rate was reduced. I took out a nominal sum in the second and last mortgage because at the time it attracted a tax relief.
Not needing a mortgage can do magic in house hunting because one can demand for a big discount as one has no chain, can guarantee going ahead and complete within a set date. One is therefore able to buy the same house significantly cheaper.
We all want something in life. Some get them before they can afford them by way of loans. Others can moderate their needs, aim low and save the money before having the dreams fulfilled.
I didn't post to get an uproar but it is another way to live and it can be done.
The fact one can get a credit from a bank is due to some idiots depositing money in the bank. The borrower pays the interest charged. The bank gets its cut and the rest goes to the depositor.
Anybody can choose to be a borrower or a depositor. A depositor has a much better chance to better himself because there has been a steady rise in both the stock market and the house market in UK over the last 30 years. Thus there have been some golden investment opportunities chasing only a small number of savers.
I would dare say that everybody at one time or another would generate a financial surplus. It is a matter how to deal with the surplus and make it work for oneself.
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saikee, I do find that one is agreeing with you. But one thinks its not realy as simple as one says. 
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bbc140, I think most skiers here are hardcore but ultimately yes it will affect people's purchasing decisions. Some of the new market coming through (i.e. beginners) will slow down and the corporate market will definately slow down as board members of places such as Credit Suisse, Deutsche Bank, Morgan Stanley etc can hardly cut back staffing levels and bonuses and then bug off on a £30,000 luxury ski weekend. People will opt for less expensive resorts, dates, accommodation. PM me for more info if required.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Renry,
It is because I am older and has gone through the system.
We have a saying of "Big wealth comes from the sky and small wealth comes from the savings". The former is equivalent to winning the lottery and depends on luck while the latter is something under one's control.
I should say that saving can "force" one to understand the financial system better, be be more alert of the opportunities around and able to bebefit from the changes. The classic case is one can change/buy a property when one has a strong desire or need. Equally one can do so when the market is its lowest point and stay away when the market is at its peak.
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| saikee wrote: |
| The fact one can get a credit from a bank is due to some idiots depositing money in the bank. The borrower pays the interest charged. The bank gets its cut and the rest goes to the depositor. |
Unfortunately it doesn't really work like that anymore (see Basel accords etc).
http://en.wikipedia.org/wiki/Basel_Accords
The banks lend out far more money than they have on deposit. The rest of the cash is magicked into existence by various fiscal tricks. In the last decade this has got completely out of hand which is why there is a problem now.
Anyway I think the OP is jumping the gun a bit, wait until 2009 to see the effects of the restriction in credit.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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| Quote: |
The banks lend out far more money than they have on deposit. The rest of the cash is magicked into existence by various fiscal tricks
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Indeed. See the video I posted earlier.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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| Quote: |
The banks lend out far more money than they have on deposit. The rest of the cash is magicked into existence by various fiscal tricks
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It is the biggest pyramid selling scam I have seen. It is legal, spear headed by the American and practised by just about every EU country.
Yet we hide it behind the nice term "credit crunch".
The financial system will eventually break if every bank operating a business 10 times its capaital according to the Basel Accord.
Last edited by And love to help out and answer questions and of course, read each other's snow reports. on Mon 4-08-08 10:32; edited 1 time in total
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| jonm wrote: |
| Quote: |
The banks lend out far more money than they have on deposit. The rest of the cash is magicked into existence by various fiscal tricks
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Indeed. See the video I posted earlier. |
Yes, of course the bank loans have to be backed by assets (houses in the case of mortgages) and the money supply is controlled by central bank lending.
http://en.wikipedia.org/wiki/Fractional-reserve_banking
Of course what is a house actually worth? Probably a good % depends on the price and availability of credit. If there were no loans - house had to be bought for cash, what would they be worth?
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You know it makes sense.
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| sharon1953 wrote: |
| marcellus, we were still up to our eyes with providing for the kids, and buying a bigger house to cope with their needs at that age! |
ah! life choices, there's your problem
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Mild economic down turn might be better phrase for people to use ?
For a true definition of the term "economic crisis" people should to look at a country such as Argentina. Where most of the working population lost their entire life savings when the country's economy collapsed in 2001.
Global corporations *only making 3.5 billion dollars profit* this year (as opposed to 4 billion last year) is hardly a catastrophe ? People should be more appreciative of what they actually have in this country... !?
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Poster: A snowHead
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| Nells wrote: |
| sharon1953 wrote: |
| marcellus, we were still up to our eyes with providing for the kids, and buying a bigger house to cope with their needs at that age! |
ah! life choices, there's your problem |
ah! that's the ex-wifes problem (with my ££ support of course)!!!
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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The so called 'credit crunch' hasn't stopped my families annual ski trip, however we are being a bit frugal with our spending while on holiday and not being as relaxed with money as we have been before. We don't have a mortgague anymore.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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| Haggis_Trap wrote: |
For a true definition of the term "economic crisis" people should to look at a country such as Argentina. Where most of the working population lost their entire life savings when the country's economy collapsed in 2001.
!? |
I was in Beunos Aires during that. I have never seen so many queues at banks at lines of armoured money trucks. Every bank had about 10 parked outside delivering money so people could get there savings out !
Was actually great for the skiing as the prices were plummeting each day 
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Nells, Well we did choose to have 2 kids, so I guess we only have ourselves to blame, but we certainly couldn't have gone for a 10 year mortgage, we stretched ourselves to get a tiny 3 bed semi with a 25 year debt in 1974! Moved 5 times since, due to various changes in circumstances, now have 11 years to go! marcellus, married now for 34 years, and still loving every minute of it - despite the credit crunch
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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You'll need to Register first of course.
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| JT wrote: |
| I might have to think hard about buying kit I don't really need.. and what was on the horizon was a jacket and skis... hmmmmmm |
indeed - i'll cut back on new toys (none of which i actually need) before i cut back on days on snow
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Wow, that video on google is very interesting. Anyone know if it's all true or parts are exaggerated? (sp)
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sharon1953, I chose to stay living in a shoe box with a small mortgage and no kids, the small space gives the cat a headache but the bonus is that I get to go on my fair share of holidays 
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Nells, well that explains things - you take of that cat, or it will report you . Different strokes for different folks as they say. Kids came with us on 2 of the ski trips (even though they are in their late 20's), wouldn't have missed that for the world, but just having them round for a meal, or just to chat is worth any amount of holidays - priceless!
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| jj193 wrote: |
| Wow, that video on google is very interesting. Anyone know if it's all true or parts are exaggerated? (sp) |
it is wrong in some details, read the Wikipedia link I posted above.
The main thing is that the banks don't conjure money out of thin air - they borrow it from the central bank either directly or indirectly through other banks. That way the central bank keeps control of the money supply. The borrowed money is backed up by assets such as houses. But essentially money is debt and increasing the amount of money in circulation increases inflation.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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The credit crunch will ultimately effect everyone's holidays (if it continues) as it will lead to a few people going out of business 9car hire companies, airlines, ski hire shops, restaurants etc) and prices will rise rather than reduce. Cheap air fares will be no more as the market restricts and the "budget" airlines reduce routes/frequency of flights. fery and rail travel will also increase in price.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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marcellus, good on you mate!! cashing in your chips and moving to a more relaxed life where you can live cheaply and enjoy yourself sounds like a good idea to me...
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You know it makes sense.
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Lizzard, it may mean something to you if you are still working in the ski industry next season.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Lizzard, crunch - just another word for squeeze, which was the word of choice of yesteryear. Perfectly good expression, says what it means - tight, compressed etc. Wossyer problem?
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Poster: A snowHead
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Hurtle, and throttled 
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Hurtle, it's a piece of moronic soundbitage.
Frosty the Snowman, what do you mean 'still'? I am currently working in supermarket retail.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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Lizzard,
I think it is real enough it is just that it hasn't shown all its teeth yet....
A lot of companies might still be on older budgets so do not have to pass on everything and the kitchen sink...yet..
The company I work for has seen its annual fuel increase by £60 mill..... there is no bugeting for that so the customer will feel it... and then you'll get all the knock-ons...
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You need to Login to know who's really who.
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Lizzard, I presumed during the winter you managed hotels for the ski industry. Are you having a career change?
IMHO the "kerrrrunch" has not bitten properly; it will really kick in during winter.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Bought the season passes, so outside of gas to get there the skiing is free, and the House is paid off.
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You'll need to Register first of course.
You'll need to Register first of course.
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Frosty the Snowman, I did. I have retired, having come to the conclusion that 60+ hours a week on a contract of dubious legality for less than minimum wage was a bit silly really. So I am spending the summer selling nasty processed food products to mad Italians. I might be working for the lift company this winter if my letter of application actually made sense to anyone.
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Lizzard, i thought it was a 'way of life' decision to live and work (a little) in the wonderland of the alps? I had no idea that you worked 50% more hours than us in the rat race
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Lizzard, Are you going to be a lifty or behind the ticket office window, or a lift engineer or ride around on a skidoo staring up at pylons
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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rayscoops, I used to board a lot more than you despite the silly working conditions. 
boredsurfin, not bothered really. But probably cashier and likely to be nabbed for the TO desk according to the bird in the office. They pay a bonus for speaking English, which I think I could just about manage.
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FAQ
