Wednesday, February 4, 2009

USA Financial Meltdown - keep on globe-trotting

I wanted to add an addendum email to my off –the- cuff response to your email, hoping it would prompt in-depth assessment about returning to the States.

Last email I guess you did not expect to receive an “enthusiasm void” email when you announced your return to USA. Contrary to your expectations, I encouraged you to continue your global trekking and stay in SE Asia. Your return, I assume, is not due to illness in the family or such concerns. With regards to “growing roots”, I recommended holding it off for at least 6 months or longer, giving this reeling nation a chance to stabilize. Fall 2007 you liquidated and “cut ties” to be free to roam, and 15 months at your pace falls short of halfway across the world (India, China, Indonesia, Australia, NZ and a whole continent of South America?) Upon your return, the accompanying euphoria would smack against the palpable dire climate and unemployment could frustrate and depress anyone and you’d wish you were still in SE Asia. It is unlikely you’d turn around at that point, or could afford it.
I’m writing you again because of my concerns for you, and wish to share with you some insightful information about the American financial climate* you’d be impacted with. Were I you, I’d wish for a “messenger” to provide me a clear perspective of the dire financial catastrophe America is in. Consult your ex-colleagues and close friends who know money for their candor before deciding to come home to the States. It is unlikely you’d have any employment opportunities waiting for you. At job fairs, for every job offered, there are hundreds of people applying wanting to work, having waited and camped overnight. Were there any anticipated, promised or presumed expectations of having employment, they no longer exist. Long term job employment, retirement or severance packages seem to evaporate, and good luck to those that hope company policies and the law could protect them. Folks are cutting out wants and focus on needs or in some cases, surviving. Fortune 500 are announcing layoffs by the hundreds and thousands daily/ weekly (Boeing, Microsoft, Starbucks, Macy’s; Circuit City and Mervyn’s filed bankruptcy and there were/ are more). Not sure how much online reading you have done but this is the America Reality Check.

For what is is worth…
Considering the disastrous American crisis, it is wise to take advantage of the maximum elasticity of US dollars to buy/ live a fuller and richer lifestyle in SE Asia. As oxymoron as it may sound, this is the BEST time to live and learn (get an education or degree) and travel because you are already there. You’ve uprooted once (temporarily, and almost all globe trotters voluntarily do that once in their life), and best to continue and complete your journey. Under the current circumstances, for another globe trotting opportunity to come up again is very unlikely and it is more difficult now than ever to accumulate the $$$ to do it. I’m drawing from experience and extensive travel background. Unlike most, I’m blessed with financial IQ and void of “wanting stuff” so I always find the means and ways to travel (and yeah! now HC & CS is part of the travel equation) because I have the “I can” and fearless attitude and personality to ensure travelling flourishes in my life. So much about me…
Traveling in third world countries (where you are generally among the average or poor communities), you may not feel the punch of this major meltdown because out there there’s always a want for money. But “when America sneezes, the rest of the world has a cold,” there will be global economic rippling heading your way, hurting tourism in a BIG way which increased your negotiation power** for food and lodging (see below).
I am very disheartened by the current depression that is too palpable. The economy will not see any upswing any time soon. At the end of the year, if as a nation we grasp the balance of a national budgeting, economy and employment, (too bad Mitt Romney- and Ross Perot- timing of presidential running are off as these two men willing to run for presidency have a clear understanding of money while America was selling their future for today’s trinkets) we may see some stability.
Now what?
Were I you …
1. I’d stay put. Food and accommodation are cheap, and $10-15/ day. You cannot get by with 10 times that here, and certainly not the interesting lifestyle.
2. Contact 5 star resorts/ hotels and offer your services in exchange for food, lodging (suite) and stipend (and/ or hotel frequency miles that you could use at a chain hotels anywhere. (Plenty of rooms at Resorts as tourism dives. )
3. Services : English teacher (to hotel employees), activities co-coordinator (Club Med, resort), scuba instructor, web design and a whole host of expat / farang jobs. Also Freelancing : http://freelancer.com/ http://getafreelancer.com/ http://www.englishtown.com/Sp/lp/Home.aspx?bhcp=1
4. Craigslist- offer guided motorbike tours, professional “nanny” for young expat boys (activities: play, football, scuba dive, etc) -
5. Learn native language, local university for class to take or teach
6. Negotiate for 2 or 3 weeks on a week off so you can travel.
7. A month’s expenses back home could easily provide several months of wonderful living in Thailand, Vietnam or Indonesia (countries with a lot of ocean opportunities with mega and “rich” tourists descending) and with some employment, you have no expenses.

In the past year while communicating with you, I feel we have made a connection and I consider you a “close friend” who I care about. Someone like yourself who is willing to sacrifice his material lifestyle and creature comforts for a global education garners my respect, admiration, envy and affection. Sometime in the not too distant future, I’d like to embark on such a journey myself. Now is not the time. I have a greater priority to be home for my daughter.
Your time is now. You have flourished exponentially since your Asian adventures that I can see.
Consider it seriously before booking a flight.
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PS – Should you return (but DO NOT THAT anytime soon), and you’re in need of room by bartering your home-improvement skills, (but CHOOSE SE Asia for another 6 to 12 months). I promise you will not regret staying longer in Asia.
Besides, who else am I going to criss-cross India, Burma and China (I could be talked into it) with this summer? Aaah… the hidden agenda…Why else would I spend precious time trying to convince you not to make a HUGE mistake by returning to the States come March.

Added Notes:
*The dire depressed economy is palpable, unlike the 80s or even the 90s crises. Then I was under the radar and was unscathed, but this time around, my portfolio has been negatively impacted – and that causes dramatic anxiety. Fortunately, my nice neighborhood unlike many other neighborhoods is not ostentatious or fervent in trying to keep up with the Jones or living above our means. However, there is no stopping the waves of financial disasters resulting in loss of jobs, hours, homes and overall loss in financial lifestyle that America used to know. Utah requires staff to take unpaid furlo to cut state budget. I don’t expect America to recover before the end of the year, and rebound to the level prior to the Wall Street disaster and SubPrime loan crisis for a few years.

* Fall 2007 – Liquidating your assets -very timely, probably best home offer
* late 2008- 2009 – probably the worst year to jumpstart a career.

**You may benefit from low tourism, and better bargaining power for accommodations, etc), but I am very disheartened by the current depression that is very palpable.

Singapore visit (if interested, & very much worth your while as it is a “ShangriLa”- almost crime-free & U could eat off the streets):
Contact Couchsurf Lim Boon Huat for couch surfing – seems like a great party organizer and lovely host. If interested, I’d send more for hosting or coffee.
My siblings speak Mandarin and workaholics, and CS is as foreign as Mars to them.

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