Is it really that bad?
04 December 2008, 01:41 PM
#121
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If I drink enough wine I am convinced I am fluent in Polish too... Just ask the guy that lives down the lane, He hides if he see's me on my way back from the put.
Tim "Antonin.. ghtoroski jfjhtthski helloski im ski well drunkski"
Antonin "Tim please go away you cannot speak Polish and you frighten my children"
Tim "Antonin.. ghtoroski jfjhtthski helloski im ski well drunkski"
Antonin "Tim please go away you cannot speak Polish and you frighten my children"
Might try that when I'm supervising the Polish lot tonight at work!
04 December 2008, 01:47 PM
#122
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Im i wrong or is the collapse of sterling the important point .!
Nothing can be done about the housing market ( its overinflated full stop) , yet the government is hell bent on propping it up AND persuading people to buy *stuff* on the high-street.
Isnt the present mucking about just going to **** up the financial industry which is dominant in the prosperity of the place globally !
Nothing can be done about the housing market ( its overinflated full stop) , yet the government is hell bent on propping it up AND persuading people to buy *stuff* on the high-street.
Isnt the present mucking about just going to **** up the financial industry which is dominant in the prosperity of the place globally !
Unless they are saving for a possible bleak future then those that are not in trouble now, could and I believe are, still spending on the highstreet, here and there. A lot of peeps do their shopping online now though with stores that don't appear on the highstreet so that's a problem with that idea.
04 December 2008, 01:47 PM
#123
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Another economics thread
Last night, in the pub, we got to diuscussing the possible BoE rate cut for today, now confirmed at 1% cut.
A couple of us were remembering the HUGE mess the USA seemed to be in during the summer, when every time you turned on the TV you heard of the collapse of Fannie Mae and Freddie Mac.
and the HUGE amounts of money their government were about to put into their banking system, some of which was SUPPOSED to come to UK banks, although none of it, afaik, ever did?
Since then, sterling has collapsed against the $, and they seem no longer to have the problems they had.
So............can anyone explain WHAT they did to apparently stave off THEIR recession, while we appear to be tumbing into the deepest one in the Western world?
And WHY Sterling has collapsed against both the $ and the €, when both their minimum lending rates were well below ours, in fact HMG kept telling us the € was a weak currency so we didn't want to go in...............
A couple of us were remembering the HUGE mess the USA seemed to be in during the summer, when every time you turned on the TV you heard of the collapse of Fannie Mae and Freddie Mac.
and the HUGE amounts of money their government were about to put into their banking system, some of which was SUPPOSED to come to UK banks, although none of it, afaik, ever did?Since then, sterling has collapsed against the $, and they seem no longer to have the problems they had.
So............can anyone explain WHAT they did to apparently stave off THEIR recession, while we appear to be tumbing into the deepest one in the Western world?
And WHY Sterling has collapsed against both the $ and the €, when both their minimum lending rates were well below ours, in fact HMG kept telling us the € was a weak currency so we didn't want to go in...............
04 December 2008, 02:32 PM
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04 December 2008, 02:33 PM
#129
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Good point. Infractions for all!!! Including me!! 
Can we get to the financial topic please all! We can start a new topic about how we failed GCSE French because we were too busy looking down the French exchange student's dress......or was that just me?
Can we get to the financial topic please all! We can start a new topic about how we failed GCSE French because we were too busy looking down the French exchange student's dress......or was that just me?
Last edited by New_scooby_04; 04 December 2008 at 02:34 PM.
04 December 2008, 02:41 PM
#132
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Folks, you may have noticed that I've merged this thread with the "another economics thread".
They're both strongly related topics and the job market angle of the latter thread generates another aspect to the "are things really that bad" question posed at the beginning of this thread.
Ns04
They're both strongly related topics and the job market angle of the latter thread generates another aspect to the "are things really that bad" question posed at the beginning of this thread.
Ns04
04 December 2008, 02:56 PM
#133
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What makes you think things in the US have improved?!! GM, Crysler and Ford are verging on going bust, car sales in the US are down even more than the UK percentage wise, today AT&T announced 12,500 job cuts, DuPoint 2,500 and Viacom 7% of the workforce! Just because a month or so has gone by without a major bank going bust doesnt mean they're on the up - things over there are dire!!
04 December 2008, 03:19 PM
#134
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If the truth be told nobody really knows the real state of the downturn right now, there seems to be conflicting data every week.
I remember last Christmas it was being reported that house prices were rising. 11 months later we're being told that they've fallen for the 13th month in a row!?
Last week a report said house prices fell last month but the rate of the fall had started to slow. Today a report says house prices fell last month at their sharpest rate since 1992! If "experts" can't make their minds up what hope have we got.
Those of you that haven't been affected by the downturn are lucky. Several firms have gone bust around here in the last 3 weeks and more look set to follow. My mum's partner is already on his christmas shut down and his company aren't sure if they'll open again after christmas. The same is true for the firm my uncle owns. It was nowhere this bad during the last recession and it looks like the worse is still to come.
Still, i saved 21p today when i spent a tenner, thanks Mr Darling
I remember last Christmas it was being reported that house prices were rising. 11 months later we're being told that they've fallen for the 13th month in a row!?
Last week a report said house prices fell last month but the rate of the fall had started to slow. Today a report says house prices fell last month at their sharpest rate since 1992! If "experts" can't make their minds up what hope have we got.
Those of you that haven't been affected by the downturn are lucky. Several firms have gone bust around here in the last 3 weeks and more look set to follow. My mum's partner is already on his christmas shut down and his company aren't sure if they'll open again after christmas. The same is true for the firm my uncle owns. It was nowhere this bad during the last recession and it looks like the worse is still to come.
Still, i saved 21p today when i spent a tenner, thanks Mr Darling
04 December 2008, 06:09 PM
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What makes you think things in the US have improved?!! GM, Crysler and Ford are verging on going bust, car sales in the US are down even more than the UK percentage wise, today AT&T announced 12,500 job cuts, DuPoint 2,500 and Viacom 7% of the workforce! Just because a month or so has gone by without a major bank going bust doesnt mean they're on the up - things over there are dire!!
Well, I was just basing it on the amount we heard of the problem in the USA THEN, (August), and the amount we hear of it NOW, plus the fact that sterling has collapsed agaist the $ let alone the €.
Maybe they are just keeping a lid on things, while our media are bigging up the crisis, leading to ours being/being perceived as worse?
Any comments?
04 December 2008, 06:47 PM
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Well, I was just basing it on the amount we heard of the problem in the USA THEN, (August), and the amount we hear of it NOW, plus the fact that sterling has collapsed agaist the $ let alone the €.
Maybe they are just keeping a lid on things, while our media are bigging up the crisis, leading to ours being/being perceived as worse?
Any comments?
04 December 2008, 07:28 PM
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04 December 2008, 08:27 PM
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Interesting thread, 50-50 affected by the looks of it?
Pensioners will suffer at the hands of low Interest Rates, while borrowers will not see any benefit ... that's how the Banks are working their profits, on the differentials!
Is it true that people have stopped spending, as we are led to believe? And why has this happened? I do not, for one moment, think that it is because of hardship - more to do wth the media making everyone terrified to spend their money (as they will need it when/if there is a recession).
Thinking that something will be cheaper tomorrow means that we will not spend today, then stores panic and slash 20% off everything, we then wait again, and on it gos until we are all sucked into a hole still grasping our un-spent money!
Pensioners will suffer at the hands of low Interest Rates, while borrowers will not see any benefit ... that's how the Banks are working their profits, on the differentials!
Is it true that people have stopped spending, as we are led to believe? And why has this happened? I do not, for one moment, think that it is because of hardship - more to do wth the media making everyone terrified to spend their money (as they will need it when/if there is a recession).
Thinking that something will be cheaper tomorrow means that we will not spend today, then stores panic and slash 20% off everything, we then wait again, and on it gos until we are all sucked into a hole still grasping our un-spent money!
04 December 2008, 08:36 PM
#139
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04 December 2008, 09:17 PM
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04 December 2008, 09:27 PM
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06 December 2008, 01:30 PM
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Pretty quiet in Town today, just 19 days before Xmas - Car Park had spaces, even at 12 noon!!
Woolies was 30 deep in bargain hunters ..... busier than I have ever seen it!
Goes to show that price is the thing to get buyers.
Woolies was 30 deep in bargain hunters ..... busier than I have ever seen it!
Goes to show that price is the thing to get buyers.
06 December 2008, 06:34 PM
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07 December 2008, 11:42 AM
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Last night, in the pub, we got to diuscussing the possible BoE rate cut for today, now confirmed at 1% cut.
A couple of us were remembering the HUGE mess the USA seemed to be in during the summer, when every time you turned on the TV you heard of the collapse of Fannie Mae and Freddie Mac. and the HUGE amounts of money their government were about to put into their banking system, some of which was SUPPOSED to come to UK banks, although none of it, afaik, ever did?
Since then, sterling has collapsed against the $, and they seem no longer to have the problems they had.
So............can anyone explain WHAT they did to apparently stave off THEIR recession, while we appear to be tumbing into the deepest one in the Western world?
And WHY Sterling has collapsed against both the $ and the €, when both their minimum lending rates were well below ours, in fact HMG kept telling us the € was a weak currency so we didn't want to go in...............
A couple of us were remembering the HUGE mess the USA seemed to be in during the summer, when every time you turned on the TV you heard of the collapse of Fannie Mae and Freddie Mac.
and the HUGE amounts of money their government were about to put into their banking system, some of which was SUPPOSED to come to UK banks, although none of it, afaik, ever did?Since then, sterling has collapsed against the $, and they seem no longer to have the problems they had.
So............can anyone explain WHAT they did to apparently stave off THEIR recession, while we appear to be tumbing into the deepest one in the Western world?
And WHY Sterling has collapsed against both the $ and the €, when both their minimum lending rates were well below ours, in fact HMG kept telling us the € was a weak currency so we didn't want to go in...............
Les
07 December 2008, 11:54 AM
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07 December 2008, 11:56 AM
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The US is still in just as bad a financial state. The World's economies have always been reliant on the US one and also our own problems have been exacerbated by the way our economy was run in such a lackadaisical manner relying on government borrowing to maintain it, and profligate government spending on matters which did not profit the country.
Les
Les
We haven't seen anything yet.
07 December 2008, 11:58 AM
#148
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- by your age id have thought you might have realised this
Last edited by dpb; 07 December 2008 at 12:00 PM.
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