The SpiceIslander TalkShop
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Date: November 10, 2008 at 15:52:08
From: Rezzy
Subject: Re: The Bad US economy means tough times for Grenada
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It's a domino effect in process right now. I've heard one or two countries been saying they are/were and will not be directly affected, but wait and see, no one will be left out, it's just a matter of time and yet too early to tell the full impact.
I don't know why I am feeling we will be affected like everyone else BUT my people are resilient and self-sufficient that I see them riding the tide except for the ones who never knew how to live down-to-earth/put-your-hat-where-you-hand-can-reach, they are the ones that will feel the brunt with high mortgages and other committed bills, something I did and always believed was to buy land cash, trust me the interest paid on anything is so ridiculous that in a situation like this when you have to sell back the profit is too minimal after paying all that interests, I'll see it more as a collateral investment than profitable investment if paid by loan.
Yes and there are people who would say credit is what keeps an economy afloat but it can drive a nail in one's coffin also should the inevitable happens, like now.
Regarding crime, well I HOPE there won't be more crimes when things really becomes desparate.
Even though it would be less remittance, they'd be still happy for it, observing them they seem to be 'make do' people, they did in Ivan era and they are proving everyday they are hold-oners..lol
All in all, I hope people are cushioning themselves for it.
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