ProperCharlie

Is it going to happen? High Street reports worst xmas sales in a decade, slowing housing market mean no more equity release. Will reduced spending and high personal debt bring the economy into recession? Personally, I am spending as little as possible and saving as much as I can at the moment, as the future (to me) doesn't look bringht and doesn't look orange.

Andy Hall

Who know's, they have been threatening it for a few years now. You say that no one is spending money, therefore increasing the likelyhood of a recession. Your answer is to stop spending money and start saving which if is more likely to increase the problem. As usual the press have enormous power in this respect and with a few targeted articles can put the frighteners on large portions of the community to stop or start spending.
I don't know what the answer is, you have read the information put before you and have made a reasoned decision to look after number one.
Personally I am trying to help the country spend its way out of a recession

TelBoy

Like most recessions, it'll happen if people believe it will happen. Sentiment is a huge factor. Fundamentally, there's no reson why the UK economy can't avoid a slowdown, but if the perception is one of job insecurity, falling propert markets and so on, it could be a self-fulfilling prophecy. Fortunately though, we have an election soon, which usually blows away any doldrum cobwebs...

Senior_AP

Innevitable.

Huge borrowing, excessively high house prices.

The bottom will fall out, it's a matter of when not if.

ProperCharlie

Fair point. But OTOH I have "industry specific" problems to worry about. In general, I feel that I will sleep better if I have at least a few months salary stashed away, that I could call upon in time of need.

JoeyDeacon

The bigger the party the larger the hangover...

Personally I have been doing all I can over the last year to get out of debt. Sold my expensive car on finance and bought a cheapie car for cash, cut up my credit cards and paid them off.

Couple of months more to go before I am completely out of debt but the lower the debt gets the more relaxed I feel. Thats it as far as I am concerned I am never going to take out a loan or credit card again.

People who have borrowed against their houses to live a lifestyle they can't afford will eventually have to pay the price.

Andy Hall

What are your "industry specific" problems, (pm me if you like) I'm interested as I think from previous threads we may be in a similar line.

I can't agree more about the financial cushion, just in case the cr4p hits the fan.

pugoetru

I dont believe the hype we are going to look at a house today and every house locally that has been for sale has sold quick

Went to the shops after christmas choka with people spending and not just buying booze fekin big boxes

ProperCharlie

Basically the state of the rail "industry" and the current administration's overwhelming desire to shaft everyone up the *rse. For understandable reasons, of course.