09
Oct
08

Is there an upside to the credit crunch?

It’s been a miserable few weeks hasn’t it? The world as we know it is apparently collapsing… everyone seems to be worried. I haven’t slept that well myself. Here in the WHYS office we’ve just been trying to cheer ourselves up a bit…surely there must be something positive amidst the doom and gloom?

I am personally grateful that all those adverts selling cheap loans have suddenly disappeared off my TV, and somebody else hoped that some notorious budget airlines might start being a bit nicer to its passengers now that money is scarcer. And higher petrol prices are better for the environment aren’t they?

So have you spotted any upsides to the financial crisis?


35 Responses to “Is there an upside to the credit crunch?”


  1. 1 Jennifer
    October 9, 2008 at 17:20

    There is an upside to the credit crunch of course. We have saw a lower price for gasoline here! It’s down to $2.97 a gallon from around $3.30! 🙂 My video rental store called me the other day and said I could come in and get a free movie since I hadn’t been there in awhile. This holiday shopping season is supposed to be the worst in a long time and some stores are already lowering their prices on some things to entice people to buy. I am hoping to use that opportunity to scoop up some gifts and save! 🙂

  2. October 9, 2008 at 17:41

    The up-side?

    Yeah, businesses are scared and may have to reign in their greed for profit and start acting responsibly.

    For all of you with any money left, be aware of the next expected mergers so that you can get in on the ground floor and make some BIG bucks. Watch for these consolidations in 2009:

    1.) Hale Business Systems, Mary Kay Cosmetics, Fuller Brush, and W. R. Grace Co. will merge and become: Hale, Mary, Fuller, Grace.

    2.) PolygramRecords, Warner Bros., and ZestaCrackers join forces and become: Poly, Warner, Cracker.

    3.) 3M will merge with Goodyear and become: MMMGood.

    4.) ZippoManufacturing, AudiMotors, Dofasco, and Dakota Mining will merge and become:ZipAudiDoDa.

    5.) FedEx is expected to join its competitor, UPS, and become: FedUP.

    6.) Fairchild Electronics and Honeywell Computers will become: Fairwell Honeychild.

    7.) Grey Poupon and Docker Pants are expected to become: PouponPants.

    8.) Knotts Berry Farm and the National Organization of Women will become: Knott NOW!

    Apologies for the long post – but I thought it was funny! 😀

  3. 3 Kelsie in Houston
    October 9, 2008 at 17:52

    @Will:
    You just made my day!

  4. 4 lambr5
    October 9, 2008 at 17:56

    If you have some savings then yes.

    For instance when I left the UK a couple of years ago I wouldn’t have been able to afford a house. When I return in a couple of years I will be able to.

    If you have the cash available and don’t mind a 3+ year investment now is a great time to pick up dirt cheap shares to sell when the market recovers.

  5. 5 Kelsie in Houston
    October 9, 2008 at 18:06

    There might not be a direct downside for some of us…I don’t have sufficient cash reserves to worry about where the FDIC cap is located. The refocus of the American media from the U.S. election (to a certain extent) to the effects of this global crisis is somewhat welcome as well…

  6. 6 Jessica in NYC
    October 9, 2008 at 18:07

    The upside, I’m not optimistic enough to label it this way. One of the perks to living in the capital of the world is the great restaurants. It’s convenient to eat out and sometimes just as expensive to cook at home. The “upside” to not being able to eat out as frequently is cooking more frequently and having people over for dinner or brunch on weekends…. when we all sit and [complain] about the economy.

  7. 7 Julie P
    October 9, 2008 at 18:42

    It’s a good reason to drink more!

  8. 8 viola
    October 9, 2008 at 18:53

    Well, I actually read somewhere in the last two or three days that during the depression, family life was better because families were poorer, had to homecook meals, Dad spent more time at home because of not having a job, etc. Hopefully, this won’t slide into such a scenario, as nobody could possibly look forward to watching their children go hungry, without medical care, without adequate housing,and without adequate clothing. Never mind Christmas and other holidays. Can’t believe that one would find acceptance anywhere..

  9. 9 Jessica in NYC
    October 9, 2008 at 18:56

    @ Will and Julie P

    See it’s you kind of thinking that makes me smile. 😛

  10. 10 Robert
    October 9, 2008 at 19:32

    Gordon Brown seems to have found something in it.

    http://www.bbc.co.uk/blogs/nickrobinson/

    Everyone at Westminster has noticed that he’s grown in confidence and stature during this crisis. Could he even be enjoying it?

    Seems as though he has found his Falklands at last.

  11. 11 Just A Thought, 'Out-of-the-Box' Land,
    October 9, 2008 at 20:19

    @Will Rhodes

    And anyone else who may be interested!

    I do have a few very good drinking mates who’re experts (real psychiatrists) in the field of treating: compulsive-obsessive corny-sense-of-humor cases.

    Gimme a call if you need an introduction.

  12. 12 gary
    October 9, 2008 at 21:24

    One day long past, while I was fretting over completion of a seemingly impossible task, a good friend cheered me up by observing,”Relax! Life can only get harder; it becomes impossible only once.” Strangely enough, his comment helped, as it has for many crises since.
    g

  13. 13 Just A Thought, 'Out-of-the-Box' Land,
    October 9, 2008 at 21:44

    Is there an upside to the credit crunch?

    All the time.

    I don’t like credit but I do like to crunch! Others!

    By the way: Will roads become a part of pork barrel politics?

    Just to ensure that a bill passes?

    Your guess is as good as mine!

  14. 14 arun balasingham
    October 9, 2008 at 22:14

    Hi all, this simple historical facts, the story is happening again, that the world will in free logicmind to know that frenchswiss group cern are doing the thing that the human are creating that the god had doing the big bang, and is repercuting the fundamental aspect of america about the spirituality, all the american will be enable to challenge theirs europeans, in term that to be the first to recreate the process creation of universe, in the rhetoric of that too much liberty is killing liberty, but one good point from this historical fact, the process are refundamentable, that’s because all the european are opening theirs minds with the socrate phenomena, why not, why why, because of what etc, and sorry for the uk resident the efficient will be 100 human with the ineffiency of the process of graham bell with the times uk rate 33 percent convertible in french rate, the all system will be like 100 percent with 100 cents of seconds and 100 seconds

  15. 15 Roberto
    October 10, 2008 at 01:28

    RE “” I am personally grateful that all those adverts selling cheap loans have suddenly disappeared off my TV,””
    ——————————————————————————————————-

    ——– Good news is that in just a few months, Americans will lose their analog TV broadcasts and will unable to watch TV unless they buy a fancy new digitial model thanks to the FCC.

    Since most Americans are broke, that’s it for them. Guess they’ll be back to listening to the radios in their broken down now worthless cars.

  16. October 10, 2008 at 05:10

    Yeah! Choice stocks are at rock bottom prices. This is the best time to buy them, because things will surely get better and sell them when the value appreciates and make a healthy profit. Reverse short selling 🙂

  17. 17 Tom D Ford
    October 10, 2008 at 05:23

    @ Will Rhodes October 9, 2008 at 5:41 pm

    “The up-side?

    Yeah, businesses are scared and may have to reign in their greed for profit and start acting responsibly. …”

    T’anks, I needed that! Humor’s a bit hard to find, save for Tina Fey.

  18. 18 Tom D Ford
    October 10, 2008 at 05:28

    @ Nelson Isibor October 10, 2008 at 5:10 am

    ‘Yeah! Choice stocks are at rock bottom prices. This is the best time to buy them, because things will surely get better and sell them when the value appreciates and make a healthy profit. Reverse short selling”

    Yep! The wealthy make money in good times and make much more money in bad times, that’s why they create crises, so they can buy at pennies on the dollar.

  19. 19 Mark
    October 10, 2008 at 05:31

    For people who have been sitting on cash and will be patient and do their homework, this may be the buying opportunity of a lifetime. It’s a chance to turn a few tens of thousands into hundreds of thousands. To those who trusted their worldly wealth to so called “professional investors”, “money managers”, “investment advisors” because they were too lazy, disinterested, frightened to learn about markets, how they work, what things are worth, and most important when to get in or out, well what you don’t know can kill you. It’s unfortunate but most people do not want to take responsiblity for their own money management or much else in life. Now they have to live with the consequences of it. Sad but not my problem.

  20. 20 John in Salem
    October 10, 2008 at 12:52

    Uuuuuhhhh….

    I’d like to use one of my life lines now, okay?

  21. 21 robert1987
    October 10, 2008 at 12:56

    Well I am unsure wether this current financial situation has begun to improve

  22. 22 David Goddard
    October 10, 2008 at 13:10

    The market is saying that it has no confidence in the government bail out using taxpayer’s money.

  23. 23 Dan
    October 10, 2008 at 13:56

    @Tom D Ford
    You are way too cynical.
    Just exactly how did the rich create this crisis to make themselves richer?
    Do you have specifics? I’d love to know how they did it.

  24. October 10, 2008 at 14:06

    Just exactly how did the rich create this crisis to make themselves richer?
    Do you have specifics? I’d love to know how they did it.

    Step One: Steal underpants
    Step Two: …
    Step Three: Profit

  25. 25 John in Scotland
    October 10, 2008 at 14:08

    As a lot of you guys are saying …if your cash rich then the bargains will be out there , but don’t buy yet as this has got a long way to go .

    I,ll now get a couple of tons of cast steel…or perhaps even lead for my keel.

    But I dont really think theres any pleasure to be had here…we,ve still got the tsunami to come and whilst we;re fighting amongst ourselves…global warming will probably come down and clobber the lot of us …just like a monty python cartoon……..sssqqqulchhhh!!!!!!.

    Is the media going to break the circle and start thinking outside the box?

    Probably not ….afterall we,re British and we don’t do that sort of thing.. …….don’t you know .

    What we DO do,….. is go and die in our thousands for something we don’t even really understand …..and then when we comeback ..find we’re still in the gutter…. what was it?…. war to end all wars .Then 20 years later we did it all again.

    Oh and by the way…where did the last one start? Any answers .???

  26. 26 John in Scotland
    October 10, 2008 at 14:11

    As a lot of you guys are saying …if your cash rich then the bargains will be out there , but don’t buy yet as this has got a long way to go .

    I,ll now get a couple of tons of cast steel…or perhaps even lead for my keel.

    But I dont really think theres any pleasure to be had here…we,ve still got the tsunami to come and whilst we;re fighting amongst ourselves…global warming will probably come down and clobber the lot of us …just like a monty python cartoon……..sssqqqulchhhh!!!!!!.

    Is the media going to break the circle and start thinking outside the box?

    Probably not ….afterall we,re British and we don’t do that sort of thing.. …….don’t you know .

    What we DO do,….. is go and die in our thousands for something we don’t even really understand …..and then when we comeback ..find we’re still in the gutter…. what was it?…. war to end all wars .Then 20 years later we did it all again.

    Oh and by the way…why and where did the last one really start? Any answers .??? …..not Germany.

  27. 27 Bruce Sickles
    October 10, 2008 at 17:19

    There is a huge plus side to this. IF we can get the banks to contiue NOT lending money then everyone will have to rely on their resources on hand. WOW. Then they can’t play these games with our homes , retirement, pricing, jobs, and security. Sound like a beter world to me. Credit is the problem. The credit crunch is just a symptom of the problem.

  28. 28 Pangolin-California
    October 10, 2008 at 19:35

    People are planting gardens like nothing seen since World War II. This will result in long-term improvements in physical and mental health for the average person who does this.

    Also, there are a lot more people riding bicycles.

  29. 29 rick
    October 10, 2008 at 23:12

    The Australian dollar has dropped 30% in the last few months which means we will probably buy more local products. Also we will travel overseas less.
    My freinds who made a living trading on the stock market have gone back to working real jobs.

  30. 30 Luci Smith
    October 10, 2008 at 23:33

    For all of us ‘poor’ people who are used to living on oatmeal and homemade soup and always have ridden a bicycle, there really isn’t that much to worry about. One feels sorry for bankers who have heart attacks, but it goes with the territory.
    Nietzche said,”Whatever doesn’t kill you, makes you stronger”.

  31. 31 Shakhoor Rehman
    October 11, 2008 at 10:54

    No. Because the majority of people on the planet are basically stupid and do not see further than their noses.

  32. 32 Dennis@OCC
    October 12, 2008 at 19:27

    There may be a upside to the credit crunch, Maybe some new regulations and some
    things will be taken care about problems in some parts in the economy will be clean up….

    Dennis

  33. 33 John LaGrua/New York
    October 12, 2008 at 20:41

    Personal growth comes in adversity,but the tuition is very high this time.It is essential that mature people face reality and resolve to amend their profligate ways.Any fool can live high on the hog on borrowed money and the people ,with encouragement of politicians with vested interest in a false prosperity lived with rteckless abandon A strong dose of a decade of austeriy is needed to ram home the enormity of the folly..Like Icarus the vast public flew too close to the Sun and the gods reacted with a thunder bolt .The sins of the fathers will be visited on the sons as the debris of the madness crushes the bright prospects of yesterday.Only the strong qwill survive/

  34. 34 Pangolin-California
    October 13, 2008 at 12:52

    Nietzche said,”Whatever doesn’t kill you, makes you stronger”

    Yes, but it appears he was referring to the smell.


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