From Boom to bust,a story of absolute lunacy!

smileyj1987 · 10-03-2014 02:15PM

The craziest part of that story is the fact he sold his taxi plate . It was his way of making an income and he sells wtf !

gracehopper · 10-03-2014 02:16PM

This pisses me off. The pure stupidity and sense of entitlement of him. Its not the governments or the tax payers fault this fella is a moron

1000 a week to run a taxi? rubbish

cletus van damme · 10-03-2014 02:26PM

lazza14 wrote: »

And Irish spent their money on SHYTE .... no investment in their kids education , paddies don't value it.

Look at the Chinese, people begrudge the success China has now - but they value education, the people are spending their money wisely.

yeah - really?

considering the amount of essentially slave labour over there I doubt this is true - an elite or selected few get hived for for education.
the other don't

as for our education system - fianna fail invested loads in eductaion. Perhaps they spent the money badly (or others did when given the money) but lets not talk ****e here and deny the past.
the green party is a party that values education as a priority.

jimmyneo1 · 10-03-2014 02:32PM

It’s only €60k debt. Not an insignificant amount but he's in a lot better position then other unfortunate people. Go to Canada, or Australia and drive an ore truck at a mine, a taxi, whatever brings in the cash. He needs to stop wallowing in self-pity.

seamus · 10-03-2014 02:35PM

darkpagandeath wrote: »

ah yes I love the we went mad part and not upper middle class/rich went mad part. Don't recall any working/middle/poor people investing in property. Yet hmmm who got hit the hardest again..

Taxi drivers are working class. This guy is a taxi driver. He went mad investing in property.
Therefore your point is wrong. People from all walks of life went crazy with money, it wasn't just the upper class. And again, people from all ranges got badly hit.

smileyj1987 wrote: »

The craziest part of that story is the fact he sold his taxi plate . It was his way of making an income and he sells wtf !

I'm not 100% sure, but I get an inkling that this guy may not be a financial genius. Or even financially literate.

As others have said, this is not a huge amount of debt. There's work out there for this guy if he's willing to stick on a uniform and serve irritating members of the public. At his age and with extensive experience running his own business he'd do pretty well in a small business as an assistant manager or something. Just don't make him count the tills.

cletus van damme · 10-03-2014 02:36PM

I feel sorry for the guy on a personal level.
It's sad to see people make ill informed decisions with encouragement from "advisors" and "qualified" people only to be the ones carrying the can for years.
People moan about drug pushers etc... this credit buzz was as bad.
bank of ireland increased my over draft and credit card limits without me asking many times in the boom years.
Free money, free drugs whatever...

we have a whole scathe of society locked into debts , negative equity and the rest for years.
It may be fashionable to lash into them on boards - feeling smug that you are sooooo clever and street wise. It's a depressing but all too common situation on boards - the smugness at others misery.

But these are peoples lives ,many people with families in their 30's / 40's cannot move on with their lives. Stuck in one location waiting out the time when their property and mortgage owed somehow balance out .

No dreams to fulfill cos every spare cent is paying down 1 (or 2) mistakes.

This is a ****e existence , one mistake shouldnt cost that much.

*
I have no negative equity or second property , And I owe nothing bar my mortgage in case you think this is a moan at my own circumstances.
I just have the view that kicking somebody when their down (even if it's their own fault) is lousy.

anncoates · 10-03-2014 02:38PM

Did I ever tell you all that I didn't go mad during the boom?

Donkey Oaty · 10-03-2014 02:41PM

Sleepy wrote: »

It's not sympathy this chap needs, it's a good kick up the hole.

To be fair, he has been suffering from depression - so getting back on his feet might not be as easy as it sounds.

OldNotWIse · 10-03-2014 02:42PM

cletus van damme wrote: »

I feel sorry for the guy on a personal level.
It's sad to see people make ill informed decisions with encouragement from "advisors" and "qualified" people only to be the ones carrying the can for years.
People moan about drug pushers etc... this credit buzz was as bad.
bank of ireland increased my over draft and credit card limits without me asking many times in the boom years.
Free money, free drugs whatever...

we have a whole scathe of society locked into debts , negative equity and the rest for years.
It may be fashionable to lash into them on boards - feeling smug that you are sooooo clever and street wise. It's a depressing but all too common situation on boards - the smugness at others misery.

But these are peoples lives ,many people with families in their 30's / 40's cannot move on with their lives. Stuck in one location waiting out the time when their property and mortgage owed somehow balance out .

No dreams to fulfill cos every spare cent is paying down 1 (or 2) mistakes.

This is a ****e existence , one mistake shouldnt cost that much.

*
I have no negative equity or second property , And I owe nothing bar my mortgage in case you think this is a moan at my own circumstances.
I just have the view that kicking somebody when their down (even if it's their own fault) is lousy.

Its not lashing them, its just an annoyance that they are expecting to be bailed out for their own stupid decisions. Nobody forced him to buy properties with his credit card ffs. A lot of people did not behave this hysterically, regardless of the "pressure" from lenders.

K-9 · 10-03-2014 02:43PM

Sunglasses Ron wrote: »

Is that even true (the price)? You would be very hard pressed to buy a apartment in a 3rd world country for that much, let alone one in an up and coming future EU member, in a holiday resort

It's been a long time since these ads were around but I always remember prices like 50K being touted (with the mythical promise that of course as soon as the Bulgarians are in the EU the apartment will be worth more than a Howth Head penthouse). I really can't believe there were apartments going for 5000- if there were, it actually would have been a good investment!

They were €5,000 for a reason. He bought another one for 23k or so and it was in a seaside resort. The 2 for 5k must have been Borat like shacks!

I don't know what he expects the Government to do though, they can't be expected to help mortgages on 3 Bulgarian properties.

It also says his income was cut to €600 in 2008 with outgoings of €1,000. How much money was a taxi driver taking in during the boom?

Anyone · 10-03-2014 02:44PM

OldNotWIse wrote: »

Its not lashing them, its just an annoyance that they are expecting to be bailed out for their stupid decisions.

I didnt read where he asked to be bailed out.

K-9 · 10-03-2014 02:47PM

sillyoulfool wrote: »

Exactly, seems to me he doesn't want BTEA or BTWA because then he would have to pay some of his income off his debts.

In fairness the article states he was on a Back to Work scheme so it seems he did try and get work.

The Diabolical Monocle · 10-03-2014 02:49PM

If you have a name like Askins-Byrne you're obliged to flee your creditors at least once.

Wossack · 10-03-2014 02:49PM

maybe he could rent himself out to weddings, or other services for the violins that play any time he speaks

donate his body to trinity? ffs

OldNotWIse · 10-03-2014 02:52PM

Anyone wrote: »

I didnt read where he asked to be bailed out.

He's going bankrupt. In his exact words, "its better to own nothing and owe nothing". So, he will not necessarily pay back all the money that he borrowed before the debt is discharged. What else would you call that?

ClovenHoof · 10-03-2014 02:54PM

gracehopper wrote: »

1000 a week to run a taxi? rubbish

Take-outs three times a day. Few pints at the end of the night. Downloading itunes for the state of the art stereo. All the Man U merchandising and trips to Old Trafford. It's these little necessities which hurt the most.

It can add up faster than you know.

youcancallmeal · 10-03-2014 02:54PM

So many statements in that article don't make sense. How on earth did he think he could retire when he was 40 and move to his holiday home in Bulgaria!? Did he think he was going to live off all the income he was going to get from his other investment properties??

SpaceTime · 10-03-2014 02:57PM

youcancallmeal wrote: »

So many statements in that article don't make sense. How on earth did he think he could retire when he was 40 and move to his holiday home in Bulgaria!? Did he think he was going to live off all the income he was going to get from his other investment properties??

Quite a few people had those kinds of notions!

mikom · 10-03-2014 02:59PM

K-9 wrote: »

In fairness the article states he was on a Back to Work scheme

Back to **** scheme judging by the fairly rattled toilet roll by the bed in the pic............. http://www.irishtimes.com/polopoly_fs/1.1718387.1394435260!/image/image.jpg_gen/derivatives/box_620_330/image.jpg

Anyone · 10-03-2014 02:59PM

OldNotWIse wrote: »

He's going bankrupt. In his exact words, "its better to own nothing and owe nothing". So, he will not necessarily pay back all the money that he borrowed before the debt is discharged. What else would you call that?

He has no option but to go bankrupt.

I'm not justifying what he did, he made stupid decisions, but there just seems to be a lot of people here who like to kick someone when they are down.

ClovenHoof · 10-03-2014 03:00PM

He sounds like a bit of a sociopath to be honest. Ruled by impulses and power - live in the moment. No long term thinking and when reality comes along is the real victim and finds the most crazy things - apart from himself - to place the blame upon. Attention seeking.

ClovenHoof · 10-03-2014 03:03PM

Most artists live in lofts worse than his. His mammy probably makes his bed and cooks all his meals too.

"Ah Jaysus Ma, I'm depressed...steak again tonight?"

bucketybuck · 10-03-2014 03:14PM

Guy:Incognito wrote: »

It's hard but hopefully not impossible. I'm trying to get back in to a young persons job (apprentice mechanic) at 33 and finding it hard to get a call back, never mind an interview. You would think having experience would be an advantage, but so far it doesn't seem to.

I will always give credit to those prepared to get out there with their CV and look for work, but...

I work in the industry, and I would be shocked if any garage ever hires a 33 year old apprentice mechanic. It just won't happen, for any of a number of reasons.:(

Piriz · 10-03-2014 03:33PM

bucketybuck wrote: »

I will always give credit to those prepared to get out there with their CV and look for work, but...

I work in the industry, and I would be shocked if any garage ever hires a 33 year old apprentice mechanic. It just won't happen, for any of a number of reasons.:(

perhaps you could list the reasons so the poster can tackle them one by one... with all due respect your giving credit is useless without giving information you possess to this person...

kunst nugget · 10-03-2014 03:37PM

smileyj1987 wrote: »

The craziest part of that story is the fact he sold his taxi plate . It was his way of making an income and he sells wtf !

Because the wheels fell off his taxi business. Personally, I would have put them back on - might have been cheaper driving the taxi if it actually had wheels on it.

sillyoulfool · 10-03-2014 03:48PM

K-9 wrote: »

In fairness the article states he was on a Back to Work scheme so it seems he did try and get work.

But why did he quit the BTW scheme, could it be that he discovered that if he stayed on it he would be expected to pay some of his debts off?

bucketybuck · 10-03-2014 03:59PM

Piriz wrote: »

perhaps you could list the reasons so the poster can tackle them one by one... with all due respect your giving credit is useless without giving information you possess to this person...

I didn't list any reasons because it would be entirely off topic for this thread and this forum. If he requests the reasons I would be more than happy to supply them, perhaps in a thread in the motors forum.

10-03-2014 04:11PM

Its got the correct headlines all right, it was complete lunacy, the only conclusion I have come to is that some people need to be saved from them selves, a taxi drive who though he could afford a life style of month long holiday in the US and buying apartments. Who ever lent him the money is as lunatic as he is.

professore · 10-03-2014 04:19PM

Living alone with his parents - no wife and kids ???

And only €60K in debt? Can I swap?????

ClovenHoof · 10-03-2014 04:35PM

Remember that Penny Apples asshole? He got a lot of people thinking they should be hot shot millionaires just like him. What happened Penny Apple? Oh yeah, bankrupt...

From Boom to bust,a story of absolute lunacy!

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