Recession Can Be Good
Time for a holiday to America. If you haven’t been taken in by offers of store cards, credit cards with 18% interest or mortgages that will go up by hundreds of pounds this summer, it might be a rather opportune time to check out flights to the US of A. While the collapse of the dollar signals misery of millions of Americans, it means that Europeans will get more dollars for their money.
Not only this, but the poor housing market is aiding those thousands of first-time buyers that were facing the bleak prospect of going cap-in-hand back to parents and friends. The government was under pressure to build more houses, but now those twenty somethings can snap up the houses which no-one else wants or can afford to keep.
Every economic extreme has advantages and disadvantges. Another example is the furore over Polish migration to Britain. Although the trend is now reversing, with Polish workers taking their hard-earned cash back home, middle-class Britains could well have cashed-in on the succession of Poland to the EU by buying cheap property and goods. Prices are now rising in Poland and the chance has passed by.
Even the collapse of a bank can be a great time to invest in their shares. Maybe we should look at the silver lining in the cloud and celebrate the opportunities that change brings.
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