In the end our current Ponzi scheme house of cards economy will collapse anyways, simply because people have no spending power anymore and will slow down/stop consuming.
All those incompetent CEO's are complaining that "business is slow" but at the same time they expect their own employees to keep on spending whilst salaries, pensions, health care and employment security is being eroded. Duh!
The only smart thing ANY pilot can do it: GET OUT OF DEBT!!
As for all the newbies who were stupid enough to pay >£100k for flight training since 2008 I do feel sorry, but there is not much they can do.
They will most probably NEVER be able to pay off that massive amount of debt, and the only 'advice' I can give them is: when you find yourself in a hole, stop digging!
Stop getting yourself deeper and deeper in debt, stop paying for type ratings, stop paying for training, stop paying for 500-1000 hour 'programs, and stop making the problem worse by flying for peanuts for low-cost airlines in order to get flight hours, because those flight hours will NOT get you anywhere and you'll only lose precious years of your life.
Be a man (m/f) and admit that you've made a wrong decision, admit that you've been lied to by flight schools, airlines and banks who gave you those loans, and (re-)negotiate with your bank about debt restructuring (remember, when the big bank almost went bankrupt in 2008 they didn't hesitate or were shy to ask for a bailout!
) and restart your life with a clean slate while you're still young!
