Tag Archives: debt

Hungarian Rescue Plan

I must admit I didn’t know Hungary was until recently considered an economic powerhouse of Eastern Europe. My limited time there last week left me with neither the impression that it was an extremely well off country, nor the opposite.? At the same time I did notice plenty of construction projects seemingly left unfinished, and infrastructure (like public transport) that looked like it hadn’t received new investment since the 1980’s.

There was talk among Hungarians and expats that I met about the terrible economy, with many expressing that it hadn’t been that bad in a long time.? But even then it wasn’t obvious to me how bad it really was.

Today I read about the rise and fall of the Hungarian economy, and immediately following that, the plan to pump money into that economy.? Among the reasons for its fall? A government burning through alot of money and taking on alot of debt.? One of the lowest employment rates in Europe.

With the IMF’s 25.1 billion dollar bailout of the Hungarian economy, it isn’t clear – as is so often true with bailouts, if this will turn things around.? The term “tighten their belts” is thrown around alot.? Which begs the question, at a time when so many people are in need of help, where can the government afford to make deep cuts without doing harm to an already wounded citizenry.? Then again, I noticed Hungarians are tough, maybe tightening of the belt is precisely something they would be up for.

Economies and Plants

During my lunch break on Myesonday I made my way over to a plant store near Olympic Stadium, here in Amsterdam.  Usually working past the time places stay open, I thought it best to buy my spring plants during my work day, plus I’d seen this shop several times since starting my new job, seemed like a good place.

I choose my spring flowers and bring them inside to pay the extremely tall, grey haired gentleman with the glasses. As I pay him I look down at the pansies and ask (in Dutch), I’m from the New York area, where normally pansies don’t make it once the weather gets warm; I’ve always wondered, does that work the same way here, or do they last longer since its slightly cooler weather here?

The man looks down at the little plants and begins to explain using alot of hand motions: We’re on a very similar level compared to New York, on the globe relatively speaking.  So the same, technically, applies, you only get flowers for a few months and its over.

From there the man seemed to jump into a larger conversation:

It is all related. Plants in the US, plants in the Netherlands. Mortgage crisis in the US, mortgage crisis here.  Whatever happens, his tone gets louder, in the US, we will always feel the effects here. Then he looks at the ground, although, I think we’re better equipped to survive the crisis, as people don’t use credit to but things the way they do over there. But mortgages, oh the mortgages, these prices in this country have been out of control for too long, it had to stop. Again he returned to his earlier statement, I think we can survive it, we are a small country and people can be very smart about not borrowing and not getting into debt schemes, I hope we survive it with minimal damage.  But again, it is all relative. Pansies, economic crisis….. US, Netherlands.

Have a nice day and good luck with the planting, he waved to me as I stepped out of the shop.

Met the Kids

Anytime I make a trip to Paris, it has become a priority of mine to visit with Madame L and the French man in their secluded hideout out amongst the badgers and the cornfields. So of course today I made my way out of Paris and over to the homestead for lunch. As an added bonus on this particular trip, I met many of the daughters I had long heard so much about. And of course they were as great as I suspected, but thats not what this post is about.

As we sat back laughing about old songs from yeast radio and the crap you find on youtube, Madame and I returned to a familiar theme… life in the US. We spoke about friends and family and what situations they are in; as in housepayments, mortgages, insurance payments, loans, credit card debt, etc etc. All these things may be part of your normal day dear reader, but what we were discussing is how we don’t have these things. Beyond that, how when some friends talk to us, they say “you’ll so lucky, you get to live in europe and you don’t have to deal with this.” This statement, of course, has many holes. Not the least of which is that you can actually have lots of these things in Europe just as you do anywhere else. However, the idea that we are somehow lucky for having chosen to live where we live, that’s the strange thing.

We both agreed it is not a matter of luck. It is choice. And despite whatever drawbacks; like living far from loved ones or not making your whopping salary, you too can make the choice and be that person who lives in Europe. Or Kuala Lampur. Or wherever.

No where is it written that all humans must go forth and take out loans and get themselves lots of car payments and other assorted longterm financial requirements. Yet strangely enough, it is people like Madame L and I who are often referred to as the strange ones, or the lucky ones, because we don’t have any of that.

strange world. but hey.. nous aurons toujours paris.