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BRawk
Joined: 14 Oct 2007
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 Posted: Tue Oct 07, 2008 1:47 pm Post subject: The ship is sinking! |
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The won is out of control. There is no reason to suspect this downward trend won't continue.
Anyone else feel like it is time to push the panic button.
I understand many people are prepared to go down with the ship, but come on people, some people have to bet thinking of grabbin' thier pensions, draining thier accounts and running for the door.
I know I am. |
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cruisemonkey
Joined: 04 Jul 2005
Location: Hopefully, the same place as my luggage.
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| Posted: Tue Oct 07, 2008 1:53 pm Post subject: |
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| Bye. |
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ldh2222
Joined: 12 Oct 2007
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| Posted: Tue Oct 07, 2008 1:53 pm Post subject: |
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| I think you're right, but many people don't have many prospective options... they're going to have to actually TRY back in the real world? What's that? They'll say it's smart to "stick it out" because, let's face it, what else are they going to do? |
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xingyiman
Joined: 12 Jan 2006
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| Posted: Tue Oct 07, 2008 1:58 pm Post subject: |
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| Even on half of my current pay in Korea I'd still be making more than I was stateside. I mean what is there to go back to really? It's just a matter of a few weeks or months before the companies start laying people off left and right. You'll be lucky to get a job whirling at Starbucks before this is all over. |
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tigerbluekitty
Joined: 19 Apr 2007
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| Posted: Tue Oct 07, 2008 2:00 pm Post subject: |
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Yeah, I feel the panic too. After losing .... gawd knows thousands to the stock market back home, followed by losses of millions of won through the current exchange rate really freaks me out to the point I can't sleep or eat properly these days. REALLY need a vacation now, and seriously considering taking a long one until the markets stablize.
Might go on over to Japan.. The yen's strong right now against the won and dollar so exchanging money's gonna hurt, but what am I gonna do. sigh... |
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BRawk
Joined: 14 Oct 2007
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| Posted: Tue Oct 07, 2008 2:41 pm Post subject: |
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| ldh2222 wrote: |
| I think you're right, but many people don't have many prospective options... they're going to have to actually TRY back in the real world? What's that? They'll say it's smart to "stick it out" because, let's face it, what else are they going to do? |
I think that is a great point. I know that is what has made it difficult for me to pull the trigger.
I remember when the exhange rate of the won to the Canadian dollar was climbing through the 900s and approaching 1000, I decided my breaking point would be 1050 and then I would be outta here.
1200 and I'm still here. Moving from stability to uncertainty is tough. But the situation here has rapidly changed for the worse economically. It is hard to justify staying any longer. |
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BRawk
Joined: 14 Oct 2007
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| Posted: Tue Oct 07, 2008 2:43 pm Post subject: |
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| tigerbluekitty wrote: |
Yeah, I feel the panic too. After losing .... gawd knows thousands to the stock market back home, followed by losses of millions of won through the current exchange rate really freaks me out to the point I can't sleep or eat properly these days. REALLY need a vacation now, and seriously considering taking a long one until the markets stablize.
Might go on over to Japan.. The yen's strong right now against the won and dollar so exchanging money's gonna hurt, but what am I gonna do. sigh... |
I can sympathize. Although I didn't have too much in the market...it seems I had most of my money in the worse place possible....the won.
I wonder how currencies in the midle east are faring. There are some attractive salaries over there. |
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rusty1983
Joined: 30 Jan 2007
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| Posted: Tue Oct 07, 2008 3:55 pm Post subject: |
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If youve got enough experience and wherewithall, and can handle it I think the Middle East hammers most other countries for wages at any time.
I saw a job advertised for Libya, �18,000 tax free plus apt plus airfare. They NEED people there too |
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Gamecock
Joined: 26 Nov 2003
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| Posted: Tue Oct 07, 2008 4:06 pm Post subject: |
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Yawn!
| Quote: |
| I think you're right, but many people don't have many prospective options... they're going to have to actually TRY back in the real world? |
You may not have noticed, but the economy is not doing much better in the "real world." Good luck with your escape plan. |
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nuthatch
Joined: 21 Feb 2008
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| Posted: Tue Oct 07, 2008 4:17 pm Post subject: |
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It is said this depression will continue for at least for two years, and then some,
things will improve in the U.S., and things will not improve in Korea,
so you might want to man the lifeboats |
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matthews_world
Joined: 15 Feb 2003
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| Posted: Tue Oct 07, 2008 4:19 pm Post subject: |
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I'm in a hagwon now, a little bit riskier than a public school.
Learn to budget. Live off less.
Marry a Korean, start working two jobs or doing privates LEGALLY.
Pay off your all of your revolving debt faster.
Wait for the tides to turn. |
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nuthatch
Joined: 21 Feb 2008
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| Posted: Tue Oct 07, 2008 4:42 pm Post subject: |
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| the tides are not supposed to turn for Korea |
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crusher_of_heads
Joined: 23 Feb 2007
Location: kimbop and kimchi for kimberly!!!!
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| Posted: Tue Oct 07, 2008 4:44 pm Post subject: |
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Not having student debt or consumer debt helps.
half of a mortgage sucks.
I prefer teaching here over Ontario-I might make the jump to Japan, but I'm thinking I will hold onto my won tightly-and yes, 1.49 days for the haircut and a little bit more, and a lot more are indeed coming! |
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Yu_Bum_suk
Joined: 25 Dec 2004
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| Posted: Tue Oct 07, 2008 5:05 pm Post subject: |
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| ldh2222 wrote: |
| I think you're right, but many people don't have many prospective options... they're going to have to actually TRY back in the real world? What's that? They'll say it's smart to "stick it out" because, let's face it, what else are they going to do? |
Now, now - quit hitting so close to home.
I think my tipping point will be when it hits 2000:1. Besides, if you have no ambition to do anything in the west, what does it really cost you? Holiday-wise I'm more concerned about the won versus the baht. |
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RJjr
Joined: 17 Aug 2006
Location: Turning on a Lamp
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| Posted: Tue Oct 07, 2008 5:35 pm Post subject: |
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| matthews_world wrote: |
| Marry a Korean. |
Don't marry some pretty young thing in debt. It's either a rich milf or bust, literally and figuratively. This strategy explains the chart of white male clientele at Don't Tell Mama's:
http://i17.photobucket.com/albums/b84/bonddad/cornmonth.gif
Last edited by RJjr on Tue Oct 07, 2008 5:37 pm; edited 1 time in total |
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