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Old 12-16-2008, 12:15 PM   #3
Project Avalon Moderator
Join Date: Sep 2008
Location: Northeastern Brazil
Posts: 1,259
Default Re: Ecuador default: Fears grow that others will follow: Telegrah UK/ Washington Post

Hi Dantheman62,

I don't think George Green saw that one coming.

I can understand the economical reason for him to move to Equador. The writing is on the wall in Heathrow airport, with the HSBC advertising. How long would 1 million dolars last you if you retired in Sweden? 7 years. If you retired in Italy? 12 years. If you retired in the Philippines? 20 years. In Equador? Probably the rest of your natural born.

He should be very careful about taking large amounts down there with him, as life in South America is cheap. People will kill for next to nothing.

I think that Brazil will pull through this recession (it's now a depression in the US - three months of contracted economy in a row) as the economy of Brazil is made up of a whole variety of industries and low costs.

The Brazilian people seem to be very resilient as life here is a lot more difficult than the compartible comfortable life of the US or Europe. They have a lot less to lose, credit is already hard to find and very expensive so they are used to not having a plastic fall back.

Best regards,


Originally Posted by Dantheman62 View Post
Wow he's got a 40 million line of credit from Iran, hmmm I wonder what George Green thinks of that? Also I see he's got a degree in Economics from the University of Illinois, hmmm again, an educated defaulter.
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