My OperaCrisis Resistant
Wednesday, December 17, 2008 7:00:27 AM
In my life time I have experience 4 or 5 economic crisis, in 1982, the year I was born, one of the worst crisis ever in Mexico, in a matter of a few years there was a inflation of almos 1000% things you were able to buy with $1 peso 6 years later you were paying $1000 pesos for it, people started to get salaries in millions of pesos, but worhtless. Then the 1989 crisis (that came with change of president) and the famous pact, that stoped the inflation, then 1994 the December mistake, that was something just like the things are happening now to the USA, then in 1997 and 1999 the Russian and Argentinian crisis, which hit us but not so much.
In every year there was the increment of dollar price, gasoline, and layoffs, and still we survive, and in december we (mexicans) spent a lot of money, I remember in 1999 when in Costco in Decemeber there was no plamsa TV avaible, all sold out, and this things used to cost $80,000 pesos ($8,000 usd of that time) and we were in crisis.
Right now is a global crisis, I don't stop hearing podcasts and news of how sales are historically slow in the USA and people complaining in the USA and here, the stores are full and have lines, why... because we are used to economic crisis, and this one is not ours, is just the "contagious" effect, which hits but not as hard as a home crisis. Plus after every crisis there is growth and recovery, is a time of opportunities, things we learn with experience crisis.
Remember to buy the stuff you really need, don't use that much credit, if you wish to live in a big mansion, good, but if you can afford it, if you don't, just get what you really need, and work hard, safe as much as possible and some day your dream will come true.
A property is an investment if you can pay for it, if you abuse credit, you don't own that thing, is the banks, and what is worse, you will be paying a lot more of the real value.
In every year there was the increment of dollar price, gasoline, and layoffs, and still we survive, and in december we (mexicans) spent a lot of money, I remember in 1999 when in Costco in Decemeber there was no plamsa TV avaible, all sold out, and this things used to cost $80,000 pesos ($8,000 usd of that time) and we were in crisis.
Right now is a global crisis, I don't stop hearing podcasts and news of how sales are historically slow in the USA and people complaining in the USA and here, the stores are full and have lines, why... because we are used to economic crisis, and this one is not ours, is just the "contagious" effect, which hits but not as hard as a home crisis. Plus after every crisis there is growth and recovery, is a time of opportunities, things we learn with experience crisis.
Remember to buy the stuff you really need, don't use that much credit, if you wish to live in a big mansion, good, but if you can afford it, if you don't, just get what you really need, and work hard, safe as much as possible and some day your dream will come true.
A property is an investment if you can pay for it, if you abuse credit, you don't own that thing, is the banks, and what is worse, you will be paying a lot more of the real value.
