Betting on credit crunch bankruptcies

If I'd have been around in 1912 and put a quid on the RMS Titanic taking a unscheduled detour to the bottom of the Atlantic on its first outing I'd be rich. The ship was unsinkable. Everybody said. The odds would have been fabulously generous. Oh the benefits of hindsight.

Now, if you find something fundamentally wrong with the idea of betting on tragedy then, um, it might be time to wake up and check out the world circa 2008. Everything to do with money is a gamble. From buying the new car that loses half its value the moment you drive out the showroom then breaks down in the M1 contraflow, to short-selling shares, where you bet on a company losing value and the closer it comes to going bust the more you win, it's all a gamble.

So on the day that America is trying to decide whether to take the biggest financial gamble in history after the biggest one-day fall on its stock market in history, it seems highly appropriate that bookies are now taking bets on credit crunch bankruptcies.

This lunchtime check out the latest odds on the next airline to crash out of business. At the time of writing FlyGlobespan is favourite at 6:4, with Spanair a close second at 6:1. Vatican Airlines seems pretty safe at 500:1 but if you fancy a really outrageous punt you can get 1,000:1 on the US President's Air Force One going bust. That couldn't possibly happen. Could it?

>> Next airline to go bust - all the latest odds

>> Other bets: the next route to be dropped by Ryanair?

>> Other bets: Who'll win the next General Election?

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Are you ready for the new TV format?

Just when you thought flat-screen TVs couldn't get any flatter along comes a new format to test the credit limits of psycho-consumers across the globe. The ultra slim telly, which began at a mere 44mm thick (less than 2ins), is gradually winging its way over here from manufacturers in the East. Sony has already trimmed its version to less than 1cm.

Korea is considered to be two or three years ahead of the rest of us when it comes to technology and this piece from the Korea Times explains the whole thing.

Read about the trend for slim

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Cheap candles

Just when you thought it couldn't get any worse than total global economic annihilation, it turns out we're going to spend winter in the dark.

Never afraid of shying away from a bandwaggon of scaremongering, This is Not Work says it's probably time to start stockpiling candles. By Sunday the country will be sold out. By Christmas you'll only be able to see your dinner if you are prepared to pillage one from the old lady down the road.

So, where to go for a cheap candle?

Anyone who has been to allen-key-based theme park Ikea will know all about candles. 'But they're so cheap! So's this egg timer shaped like a pear. I just like so need one! And this... etc'

Ikea has 20 candles for £3.99, burning time: 6hrs each

Ikea also has 6 candles for £1.69 that burn for 9hrs each

But our Swedish chums don't sell their candles online.

Elsewhere, you've got the specialist online sellers such as:

Candles on the Web, which has big boxes from 17p a candle in all kinds of colours

Or take pot luck with an unspecified number of pillar candles at Northern Lights. (Clilck on Clearance Shop).

Or bag a sack of 100 tea lights for £1.75 from Wilkinson.

Happy Christmas.

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Get all the global financial meltdown highlights by email

When I was about 12 and I asked my dad for $700bn for Scalextric stuff and the whole Subbuteo floodlights kit as well as some of the more obscure teams in their second away strips he said 'no'.

'That's a lot of money to throw into a plastic dugout of pointlessness. You'll only end up squashing the goalkeeper, losing to Hull City reserves and not playing with any of it again. All that money will have been wasted,' he said. Or words to that effect. Harsh. But I survived.

So when this week Hank Paulson asked the $700bn question of the US congress, understandably they're finding it hard to say 'yes'. After all you can get Subbuteo for £22.49 these days - including free super saver delivery. The difference with toys is that you get something for your money. With this bailout no one knows whether it's going to make the slightest bit of difference. That's one expensive own goal if it goes ahead and goes wrong.

Whatever the outcome, it's all rather interesting. To follow the developments as they happen, sign up to our newsflashes and we'll keep you up to date with this sorry mess by email.

>> Get your free email newsflashes

And then play the...

>> Online Subbuteo freekick game

Related

>> US economy bailout may hit the buffers
>> How to get out of debt
>> Where to get hold of some debt

Caribbean cruise for £100, US flights sale

My knowledge of American history isn't good. There's not been enough of it yet for it to be of any interest. I do know, obviously, that Tom Hanks coined the phrase 'Houston, we have a problem.' And I also know that at the moment it's not just Houston that has a problem but the whole darn country.

Nobody has any money and nobody can get hold of any money to replace the money they don't have. It adds up to a big fat nothing. And if nobody has any money there's a real danger that stuff like my favourite thing in the whole world ever, the motorised snack float, is never going to be bought again.

But desperate times such as this mean there are deals to be had. And one Amercian deal that British people can take advantage of is this: the Caribbean cruise for £100.

The catch, and there's always a catch, is that at this price you only get a cruise for three nights. Oh, and it's from Miami so you have to get to Miami. But DIY cruises can make for a cost-effective addition to a holiday in Florida. Carnival Cruises are family orientated, laid-back affairs. They make a lot of their money on the drinks, so if you don't drink too much you win. American Airlines' seat sale runs until the end of the month.

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Free tickets for Jools Holland's Later show: ballot now open

Quick one today for music fans. Tickets for three more recordings of BBC TV show Later With Jools Holland are available from today. It's popular and it's a ballot and there's no clues (apart from one, see warning below) as to the line up but one likes to think that the Jonas Brothers won't be part of it so it's worth a punt. Two tickets max. On Tuesday evenings in October in London at 8pm.  Draw ends on Friday at 5pm.

Apply for tickets for Later With Jools Holland

Urgent warning: Do not apply for the 7 October show if you would find yourself disappointed if you were lucky enough to get tickets only to learn that Coldplay were on the bill that night.

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Pic: Seasick Steve

Free Lego magazine subscription

One of life's great mysteries, apart from why campaigning consumer action group Which? doesn't put the actual price of the magazine (£6.25 an issue, £75 a year) on its cover - is the price of Lego.

Six-quid-plus for a magazine sounds an awful lot to me - something a campaigning consumer group ought to investigate - but that's nothing compared with a box of those iconic little plastic bricks, which to build a small house requires almost the same amount of money as a real one. Or so it feels.

But Lego, ignoring Bionciles, can be forgiven. It makes some fantastic toys and computer games - and the theme park's not bad either. And unlike Which?, which has a £3 trial offer, the Lego mag is free for two years.

Get Lego magazine free for two years*

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> Free consumer advice and tips
> Free consumer guides
> Free consumer expert answers

Please note, none of the links on This Is Not Work are affiliate links. Like other sites we don't make money when you click on the links. We don't write about stuff to make money. We do have a great pictures library. Here's some for fans of Lego Star Wars.

The great coupon confidence trick and 2 for 1 burgers

Supermarket coupons. What a waste of time. Another brilliant marketing ruse to get the gullible into their stores to buy stuff you don't want. If you really need to save 40p off your weekly shop then stop reading this now, get off the internet and cancel your broadband subscription. It is a luxury you cannot afford.

That said. There is one offer that it may be worth printing out and keeping in your wallet for emergencies and that is the Burger King 2 for 1 burger offers. Let me explain.

Based on the results of an untested, unscientific and untrue survey of two blokes in a pub, burger makers put some kind of stuff and that in the sauce that makes grown men crave burgers. A craving so powerful that they have been known to head for the pregnancy test kit rack at Boots just to make sure.

If you've experienced that craving, which can hit at any time of day of night, then best head over to the voucher offers page at Burger King. There's a bunch of two for ones. You might as well pig out properly.

http://www.burgerking.co.uk/evoucher/default.aspx

Also, if you are a weak parent who caves in to your child's 'get me a cheeseburger now or I'll call social services' ultimatum, then this is for you too. For everyone else, go to the market, buy fresh stuff and cook it.

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Nice picture of Elvis and no mention of the credit crunch

I was today going to write about The Mortgage Lender Implode-O-Meter. It's an aggregation and commentary service dedicated to the carnage in the American home loans market; what's left of it. Anyone who remembers the fine work done by Philip J Kaplan with his wonderful dotcom bust website, the name of which I cannot publish here (Google his name if you've forgotten), should check it out. Implode-O-Meter is not nearly as much fun as ****** Company but it shows in detail the effect that giving mortgages to jobless people can have on your own job.

But I'm not going to mention it. This credit crunch is getting depressing. Instead, here is a nice picture of Elvis (click on it and it's even nicer). If you would like to see nice pictures of other people to brighten your day please ask using the comments link below and I'll see what I can do.

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£1 National Express coach tickets

It appears that those wacky marketing people at National Express may have ended up with a certain amount of egg on their cheeks this month after the 'hilarious' Your bums...  £1 seats sale has had to be extended by 10 days, presumably because not enough of us bums signed up.

There were 25,000 seats on sale at £1 to an impressive list of destinations and the booking period has now been extended to 23 September with travel to the end of the month.

Unfortunately, we couldn't find any of the £1 seats, suggesting that the credit crunch isn't that bad after all if people are still prepared to part with a quid to cross the country. But we did find returns from Newcastle to London and vice versa for a mere £76 (less than £20 each) for a family of four during October half-term, which compares with £430-odd for flights.

If you are tempted, beware that insurance option is pre-ticked and you don't need insurance for a bus ride.

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Directory of email addresses of big company bosses

It's one of the oldest tricks in the book, but because Britain is rubbish at customer service we often have to resort to writing to a company's top boss to sort out our various consumer messes.

If this sounds familiar here's a page worth filing away in your bookmarks:

Directory of email addresses of big company bosses

It includes the likes of:

stuart.rose@marks-and-spencer.com

graham.beale@nationwide.co.uk

andyhornby@hbosplc.com

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Free picture editing software

If, like me, you find yourself struggling to sort your holiday photos with ill-considered proprietary software from your digital camera manufacturer then I cannot recommend enough the latest version of the free Picasa tool from Google.  It is brilliant. But don't take my word for it:

Read someone else's review

Get Picasa

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Paris for £1

If I was a lorry driver I'd like to think I'd make sure my lorry didn't catch fire, especially when it was in a hole under the sea with me in it. But it seems not everyone is as concerned for their wellbeing as I am as we saw again yesterday. The closure of the Channel Tunnel has left thousands of travellers stranded and looking for alternative ways to the Continent.

Loath as I am to publise Ryanair after its rather ungracious 'Closing Down Sale' to celebrate the demise of Zoom, especially on the day XL has called in the administrators, it does have some genuinely amazing fares if you book before the end of the weekend.

From 28 October, it is launching a new service from Bournemouth to Paris with flights still available for £1 each way all-in, no taxes to pay. Flights are on Tuesdays, Thursdays and Saturdays. Flights in half-term go up to around £35 all-in each way.

There are similar offers from airports across the country to destinations at Ryanair.com.

XL emergency numbers for stranded passengers

If you have been left stranded by XL you can call:
+44 (0) 2891 856 547 for 'distressed customers'
+44 (0) 2082 424 783 if you are abroad
0800 068 8991 from the UK

>> UPDATED: What can I do if my airline goes bust

>> Find a better credit card for foreign travel

Free world telephone directory

At its launch the site claimed to be able to put you in touch with anyone, anywhere in the world for free. And I know it works because a colleague found a long-lost friend in Canada, who he met up with after one or two telephone calls.

Now there are scores of dubious-looking directories online but this one is still worth checking out.

>> Infobel

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Speak every language in the world for 7p

Not so long ago our national newspapers were competing with each other to teach readers a foreign language by CD in as quick a time as possible. French in a week, Danish in a day, Polish in the time it takes to fire a proton around a Large Hadron Collider, that kind of thing. They were all fantastic offers and extremely popular but I should point out that it took me approximately 27 years to master French and I still can't do the numbers from 97 to 99. Anyway it's all a waste of time because of these two brilliant books.

Point it: Traveller's language kit

The Wordless Travel Book

They both do the same thing, that is show pictures of everything you could ever need while travelling abroad from beer to flat tires to tummy ache. So whatever situation you are in wherever you are in the world you can point to what you want while shouting, 'that one!'.

And at the time of writing you can pick up a copy of the latter for a mere 7p (+postage) on Amazon.

Holiday help

Research destinations | Find a loan | Latest exchange rates

Daily Mail offer - France for £1

OK, let's be honest about this. Unless you live in Dover, within walking distance of the harbour, the idea of a day trip to France as a foot passenger even for a quid is preposterous proposition. For a family it's a total fallacy. This is a day out with your own transport that will cost well over £100 to do it properly.

To take the car on a Saturday with this offer it will cost £27, which is not necessarily a financially unhealthy proposition - but with the exchange rate turning further against sterling it helps if you're heavy drinkers and smokers. Fill the car with cases of wine and beer and you can cover the cost of the ticket. And have meal at one of the many quality restaurants in the region and you can have a fine day out. Check out:

Daily Mail: France for £1

Archive: Is it still worth crossing the channel for shopping?

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Top Table: Top-rated restaurants in Calais

Tip: Head down the coast to Wimereux for lunch at the beachfront brasseries or for the fine dining at L'Atlantic

Tip 2: If it's busy, the trick is to find a quiet part of the ship. Print these deck plans and head for the lounge or the family lounge bar.

http://www.poferries.com/tourist/content/pages/doca_deckplan.html

Free New Orleans music festival at the 02

One of the most fun places on the planet (outside of hurricane season) is New Orleans. And one of its best parties is the French Quarter Festival every April. Sadly, the combination of the high price of oil and the falling value of the holiday pound is making getting there prohibitively expensive.  Fear not...

Cash-strapped fans of jazz, blues and the whole cajun experience will be delighted to learn that Louisana is coming to the UK in October with two free days of music, fun and culture. Put this in your diary now:

Festival New Orleans - at the 02, Friday & Saturday, October 24 and 25

Line up: Dr John, Allen Toussaint, Buckwheat Zydeco, BeauSoliel avec Michael Doucet, Rebirth Brass Band, Kermit Ruffins and The Barbecue Swingers, Marcia Ball, John Mooney and Bluesiana, The Annointed Jackson Sisters, New Birth Brass Band, Big Chief Monk Bordreaux, Apache Hunters and Hardhead Hunters Mardi Gras Indian Tribes, Young Men Olympia Untouchables Social Aid and Pleasure Club, New Orleans Mardi Gras Indian Rhythm Section.

Says one commentator on this video of Mary Chapin Carpenter donig Down At The Twist And Shout: 'Everyone is having so much fun. I never saw Michael Doucet laugh so much playing a song. If you don't feel like dancing, you have no feelings. If I need a pick me up, I get a cup of coffe, listen to this video a couple of times and "I find my feet" GRACIOUS!'

http://www.youtube.com/watch?v=8iHupQtJ_BM

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Travelodge hotels for £9

Biloxi breezes back into the picture

How to win £92m (plus Gordon Brown on Pop Idol)

There are three ways to win £92m I can think of.

1. Get a job in a bank selling mortgages to unemployed Americans, repackage the mortgage debt as investments and sell it on to stupid people in other banks around the world, pocket your bonuses and walk away while the Western economy collapses under the ensuing credit crunch.

2. Work hard and save really hard, starting with a top rate Isa, learning more about how to invest along the way.

3. Win tonight's Euromillions draw. It's a record £92m jackpot.

By far the best way to untold millions is number 2. I mean, number 1 is like so last year and number 3, well let me tell you about number 3...

Before he got a job on This is Money our technical developer made a lottery simulator for a college project. It plays the lottery every 'week' with either random numbers or the same set of numbers in each draw. And the result? In both scenarios it can take thousands of years for your numbers to come up. You have about as much chance of winning the lottery as Gordon Brown has of a pop career.

And that's the thing. Bizarrely, there is a slim enough chance of almost anything happening to make it possibly worthwhile having a go. Go on, watch the video of:

Gordon Brown, the Prime Minister, singing When I'm Cleaning Windows

By the way, the National Lottery's online ticket sales have been offline this morning so if you can't access it to buy your ticket this lunchtime, maybe check out:

The great lottery conspiracy of 2005

Our best savings rates

Travelodge hotel rooms for £9 a night

For reasonably priced family hotels in the UK we like Premier Inns and Holiday Inn Express. Travelodge is a close third but they always seem to be either fully booked or the locations not so convenient.

However, the credit crunch is forcing companies to offer deals so attractive that you can throw any preferences out the window. Travelodge has issued 50,000 rooms for a mere £9 a night for stays from 1 December to 22 February.

Bookings must be made by Sunday 21 September. These rooms went on sale this morning and will sell out quickly. The website already crashed first thing under the weight of traffic and there are few Saturday nights available at this price - but it's worth a quick look nonetheless.

Travelodge home page

Find your £9 room here:

http://www.travelodge.co.uk/saver_rooms/

(If you don't get a £9 deal, there are plenty of room available at £19).

PS. Holiday Inn has been running an offer this summer with room and full breakfast for families of up to four for £49. Assuming you can eat 10 quid's worth of breakfast each, then this works out just £9 for the room. The offer expires this weekend but I would expect this or a similar offer to appear quite soon - will keep you posted.

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The money matters that matter to us most

This is Money was one of the first websites anywhere to publish reader comments on stories. It means that the stories often take on an extra, sometimes fascinating, dimension as people share their thoughts and tips on the issues of the day.

So what are the issues that really matter?

House prices, broadband deals, bank charges and the payment protection insurance rip-off, parking fines, car tax, Premium Bonds and buy-to-let to name a few. We've recently added the dates and times to the comments to make them more relevant.

This lunchtime, check out some of the stories that have attracted the most comments over the last few months:

Look up your new road tax
215 comments

What are the best broadband deals?
165 comments

Is there going to be a house price crash?
126 comments

My buy-to-let dream cost me everything
103 comments

Reclaim you PPI premiums
97 comments

House prices falling faster than 90s crash
92 comments

Pressure for rate cut as house prices fall
79 comments

Banks lose first stage in charges battle
78 comments

Britain's unluckiest Bonds holder
75 comments

How to fight your parking ticket
74 comments

Property seminars: How we lost a fortune
74 comments

Mortgage fees: How much are you owed
72 comments

House price crash is here, say City banks
72 comments

£50bn finance package to avert recession
71 comments

Interest rates: News and predictions
70 comments

Government faces road tax rebellion
69 comments

House prices fell by £5,000 in March
68 comments

House prices 'to rise 25% in five years'
65 comments

Brown: 'Stop wasting so much food'
65 comments

Revealed: the real rate of inflation
63 comments

Crisis plan for property as crash feared
62 comments

Chancellor considers scrapping stamp duty
62 comments

How to save safely with UK banks and building societies
60 comments

Mum jailed after Abbey's £135k blunder
60 comments

Families 'to be forced to fit water meters'
59 comments

A quick guide: reclaim bank charges
58 comments

Buy-to-let giant Inside Track goes bust
58 comments

Easyjet sale ends today

As a rule flight sales aren't worth the advertising space they're squeezed into when it comes to families bound by school term dates trying to find a deal. But the market is in disarray and there are some interesting offers emerging.

If you book by midnight tonight Easyjet is offering 20% off its flights. We found some genuine good value fares, for example a long weekend in Nice during the October half-term would set you back a mere £158 all in for flights for a family of three. In other words, just over 50 quid each.

TIP: If you do fancy Nice (pictured) for a last-chance stab at late-summer sunshine but are watching the value of the pound plummet against the euro, don't forget to check out the apartment hotels such as those offered by the Citadines group. You can squash a family into one room and because it has a kitchen it means you don't have to eat out every meal.

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New cars - a mug's game or time for a bargain?

The latest round of new registration plates are issued today but if the views of our readers are anything to go by only a fifth-rate financial moron will be on the phone to the car dealership this lunchtime.

Try these for starters:

'Private buyers should never buy new cars unless they have got piles money to burn for no reason.'
'Buying new retail is a mug's game.'
'I would never buy a new car unless I had won the lottery.'
'Buying a new car does not make financial sense - it never has.'

But with demand for new cars falling through the showroom floor, now could be the time to negotiate a bargain.

Make your own mind up and add your comments and stories here:

Should you buy a new car or a used one?

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