|
Is The Economy About To Crash?
There is no good economic news as far as the eye can see ......
£ is down, $ is down, the world thinks that we will follow the US and that our Property Market is overvalued..... Shares have recovered today, but I think that is just profit-taking .... I'm pretty secure financially with no debts and reasonable assets, but even I am concerned about what may happen ..... which UK Bank will go down next? How safe is our money on deposit? Will the Yuppies start jumping out of high rise windows onto their Porches below? Have we borrowed too much, for too long? Has the Buy-it-now, pay-later culture come home to bite us? I'm of the old school and only bought what I could afford, or saved up for ... is it a lesson more need to heed? Will the Chav layabouts finally get their benefits cut as the rest of us tighten our buckles, or will they still spend our taxes on drugs, roll-ups, special brew and the 2:30 at Kempton? :mad: Open discussion ...... not political, as one party is the same as the next ...... stare into your crystal balls and tell what you see. |
I think we're heading for a recession. Will hit me quite hard, as I'm in construction. TBH though I think the UK needs a recession. House prices are way over priced. A year or two of recession will fix that.
I feel sorry for first time buyers who've just maxed themselves to the hilt but have little sympathy for those who've bought a £600k house just to brag that they've bought a £600k house. Plus all those who bought to let, making a loss every month saying who care's, the value is always going to go up. Bet they're feeling a little nervous now. |
Errrrrrrrrr, someone attempting to move away from his usual "Labour is everything that's right about the UK," stance?
Alcazar:D |
Yes.
Cars are paid off,no other debts,loans,credit cards just mortgage fixed for 10 years. Party over and too many people won't accept it or pretend its not happening. |
:lol1:
We're all doooooomed! |
Good, house prices are fcuking ridiculous round here, a crash will knock them down to hopefully realistsic levels!
|
Originally Posted by pslewis
(Post 7740612)
There is no good economic news as far as the eye can see ......
£ is down, $ is down, the world thinks that we will follow the US and that our Property Market is overvalued..... Shares have recovered today, but I think that is just profit-taking .... I'm pretty secure financially with no debts and reasonable assets, but even I am concerned about what may happen ..... which UK Bank will go down next? How safe is our money on deposit? Will the Yuppies start jumping out of high rise windows onto their Porches below? Have we borrowed too much, for too long? Has the Buy-it-now, pay-later culture come home to bite us? I'm of the old school and only bought what I could afford, or saved up for ... is it a lesson more need to heed? Will the Chav layabouts finally get their benefits cut as the rest of us tighten our buckles, or will they still spend our taxes on drugs, roll-ups, special brew and the 2:30 at Kempton? :mad: Open discussion ...... not political, as one party is the same as the next ...... stare into your crystal balls and tell what you see. Are you able to defend your heroes in a meaningful manner this time? Les |
Originally Posted by Leslie
(Post 7740915)
We know that this problem started in the States Pete, but putting that to one side, do you think that any problems this country will have could have been avoided if this dreadful bunch in charge had been a bit more abstemious with that money of ours that they keep throwing to useless causes and at gross bureaurocracy and instead of overborrowing thus increasing the National Debt in order to make our economy look artificially strong, that they had put some cash aside for the "rainy days" which are coming to us all?
Are you able to defend your heroes in a meaningful manner this time? Les |
Its all about confidence apparently ,so im saying itll collapse tomorrow cos ive cash in the bank :D ( Which reminds me ill need to withdraw that and stuff it under the mattress)
- i reckon theres a good deal more 'institutions' going to go belly up in the next year - to everyones cost |
:rolleyes: Sarrr up
|
Originally Posted by pslewis
Will the Yuppies start jumping out of high rise windows onto their Porches below?
|
i've just started a new job, i am currently earning less than my girlfriend who works in specsavers(it has caused me to cry into my pillow some nights), my credit cards are all maxxed due to me leaving my last well paid job as i wasnt happy. i rent, have no assets worth talking about and shamefully i bought my XBOX 360 thru curry's on credit. basically I'M ****ED:D
|
Its not about to crash, it is crashing. Thats the thing about 'crashes' they never are as sudden as the term implies. Those that don't accept this will be even more worse of.
|
Job losses everywhere here atm:( Those at work who have remortgaged their houses to buy luxury cars and holidays are bricking it. Still when their house gets repossesed they can live in their flashy bmw x5:D
|
Originally Posted by BigJay
(Post 7741143)
i've just started a new job, i am currently earning less than my girlfriend who works in specsavers(it has caused me to cry into my pillow some nights), my credit cards are all maxxed due to me leaving my last well paid job as i wasnt happy. i rent, have no assets worth talking about and shamefully i bought my XBOX 360 thru curry's on credit. basically I'M ****ED:D
|
A recession is the best-case scenario.
|
Just a blip I reckon, admittedly quite a serious blip, but as usual the media are going mad!
Did you know for example that the American markets actually finished up on the day yesterday? |
It would not be so bad if we had our world class transport network,an education system the envy of the world and a NHS fit for the 21st century, all the things labour promised but I don't think we got any of those :(
so what the hell have new labour done with the £100's of billions:wonder: |
The US pissed all their money into the war and giving $100 mil a pop to a foriegn country on a regular basis.
Their markets screw up, in turn anyone who had their finances tied up in the US (which is 50% of the UK and anyone else) are feeling the effects (read about some Tycoon losing £800 mil on the US stock exchange... wtf?!). It's looking pretty grim and just to make things even worse than they are, our beloved goverment cronies tax the **** out of us. |
Originally Posted by Paul3446
(Post 7741250)
Just a blip I reckon, admittedly quite a serious blip, but as usual the media are going mad!
Did you know for example that the American markets actually finished up on the day yesterday? BBC NEWS | Business | Market Data | Stock Markets | Dow Jones |
Originally Posted by kingofturds
(Post 7741290)
It would not be so bad if we had our world class transport network,an education system the envy of the world and a NHS fit for the 21st century, all the things labour promised but I don't think we got any of those :(
so what the hell have new labour done with the £100's of billions:wonder: |
I read today that our benefit system costs £235 billion a year, twice what the NHS costs! :Whatever_
That's where most of our money goes. |
It was up was it? Great! Panic over then. :thumb:
BBC NEWS | Business | Market Data | Stock Markets | Dow Jones I said it was up yesterday, just making the point that all the headlines were doom and gloom, when the DOW was actually up on the day. |
If you look at the graph for the year, it's only slightly down on where it was a year ago! Hardly a crash is it!
BBC NEWS | Business | Market Data | Stock Markets | Dow Jones |
Originally Posted by StickyMicky
(Post 7741244)
did you really buy an xbox360 on currys credit :eek:
|
The FTSE's up 173 today and the DOW is up 270.
Panic over! :thumb: |
Start Borrowning Again Everyone!!! :lol1:
Paul334676655635534433232 says it's all OK now :lol1: |
Originally Posted by StickyMicky
(Post 7741244)
did you really buy an xbox360 on currys credit :eek:
|
Originally Posted by Paul3446
(Post 7741301)
I read today that our benefit system costs £235 billion a year, twice what the NHS costs! :Whatever_
That's where most of our money goes. |
Start Borrowning Again Everyone!!! :lol1:
Paul334676655635534433232 says it's all OK now :lol1: Who said anything about borrowing? :wonder: |
| All times are GMT +1. The time now is 01:54 AM. |
© 2024 MH Sub I, LLC dba Internet Brands