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PostPosted: Thu Dec 20, 2012 11:05 am 
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Today I would like show you guys this video, to understand better what happened here in Spain, it's is an animated short film where you can see in a easy way and with clear vocabulary how we got to this terrible situation. It´s is in Spanish but you have the English subtitles. I hope you enjoy and learn!

Do you like the video? Do you feel identified? I would appreciate if you could tell us a little more about the present situation of your countries. Thanks in advance!

http://www.youtube.com/watch?v=InfvncOn6_U


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PostPosted: Thu Dec 20, 2012 12:59 pm 
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Hi Vanessa! I saw this video when the crisis started and the Greeks have that awful economic problem and all Europe want to be save for German. I do not know what is happening right now because I lost the track of all economic news but I hear that it is not going good.

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I.M.E. Juan Carlos Alvarez Cordero


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PostPosted: Fri Dec 21, 2012 9:50 pm 
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Location: Keswick, ON
The same thing pretty much happened in the entire western world. Most people my age and older believe that we have a right to everything. We do not feel that we should save for anything. Want a big house, no problem, buy it on mortgage. The price will go up so don't worry. The market will not crash, this are different now.

Oh, you just bought a new house, no problem, lets fill it with furniture and appliances. We can finance those too. Need a new car, we can give you one of those too.

I don't play that game. I always believed in paying with cash and if I do not have it, I wait until I do. When I bought my house, I put 53% down. My mortgage was small. I had a 1984 TV, old couches and an old stereo system. My computer was also ten years old and I was using dial up. My friends said I was cheap, that I never spent any money. I said, wait, I just bought a house... That was a lot of money... I used mostly cash... They said, wait, why do you have an old tv and sleep on a mattress on the floor. I said I am saving for those. I will get them when I have money.

I used to hear all the time that I need to enjoy life more and spend more. I don't hear that anymore because I used cash to buy things and don't have to worry about debt. I don't have to worry about being laid off. In fact, I could use the vacation ;)

My generation is a selfish one that wanted everything now without consideration for the consequences.

What worries me is that the housing boom in Canada did not stop in 2008... it is still going. It too will burst.

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PostPosted: Fri Dec 21, 2012 10:06 pm 
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Simon wrote:
What worries me is that the housing boom in Canada did not stop in 2008... it is still going. It too will burst.


In Brazil it´s happening the same. Each day we have a new building and people are buying a lot of things by credit. The growth of the economy is based on the credit. I really don´t know when everything will burst too.


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PostPosted: Sat Dec 22, 2012 4:16 am 
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totally agree Simon, here in Spain happen the same stupid things, we thought that we were rich, if you went to the bank the borrow for money, they used to give you more that 100 % of the mortgage and a bit more for the furniture and a bit more to buy a new car and a bit more for travel, a credit card to buy technology and new clothes. I know a lot of families whose have two houses, one in the city and another in a village, two cars, etc...

I feel very strange today because a lot of friends has a new house, they paid a round of 150.000 €, a TV that it costs 2000€, etc. they go out to have dinner twice or more times a week. I live in worst conditions, I´m saving for my new house, I try to have some save money for unexpected events and go out dinner one a week, and they usually work in a factory or are unemployed!; On the contrary me and my boyfriend have well-paid jobs, but you know.. I don't have any doubts and we can sleep very quiet and calm every night.... That's priceless!


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PostPosted: Sat Dec 22, 2012 10:28 am 
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I too sleep well. But I am always looking for ways to ensure my future is safe. I teach because I enjoy it, but if I lose my day job, I have something to fall back on. I can survive off teaching and maybe even change careers. That is something very comforting.

My family was always living paycheque to paycheque. I swore that would never happen to me and it feels much better. I do not like excessive stress.

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