In case you are wondering where I’ve been for the last week it has been in the UK visiting Maggie’s relatives.
I took this picture in downtown London somewhere around Lester Square. Second hand a Ferrari is worth somewhere between $150,000 (Canadian) and $250,000. Over the last decade sales have risen from 4000 to 6500/year. I’d be scared to drive one – especially in London. Check out what they’re selling in Canada right now – used Ferraris. I think this particular Ferrari is of the 458 Italia Variety – top speed 325 km/hr.
It becomes increasingly apparent that there are two kinds of people in London – those that are incredibly rich and those that are struggling to survive. I suspect people stratify themselves in concentric rings outward from the city core, those with the largest disposable incomes live at the center of the city and then as you move outward a compromise between what you are willing to spend on lifestyle and what you are wanting to save or spend on others occurs. Some people, who are too young to have already made their fortune are obviously living on the earnings of someone else – how else could they live here?
As London was once the center of the British Empire I suspect that there is still a lot of residual cash that will likely last a couple more generations – each generation being less capable than the last. It is hunger that drives a person to be successful, not a lifestyle of ease, nightclubs, restaurants and cocktail parties.
Anyway, London was a fascinating place – more to follow (including the “cash crunch” as my next post. Who would ever have imagined that my VISA would not work over there?)
Bet the guy who owns this car (A Ferrari) never has a problem with his VISA.