Topic: Is it going to be a bad year? Are we heading for recession?

[cambourne7]

HI

For the first time in many many years i have seen someone selling large bags for spuds on the side of the road (3.99 for 25kg i think).

With the state of the financial markets i do wonder if were in for a short (well needed) recession something that will lower house prices.

Whats your thoughts on the matter.

Cam

[aromatic]

 :-\  My brother-in-laws girlfriends, daughter.... phew!! lives and works in London and works within the government.... forecast is for the worst recession ever!!

[cambourne7]

eak

[ACE]

I'm alright Jack. Could not give a flying f@rt.

[cambourne7]

what if they quadruple f*g prices?

[posie]

Well they all keep saying it's not going to be a recession, but quite honestly I don't believe them.  I remember when my dad got made redundant and then lost our house during the recession.  Myself, my parents and my 3 brothers ended up living in a 3 bedroom house with my grandparents for two years until we got back on our feet.  House prices should never have been allowed to become so over-inflated.  At the moment the cost of living is rising so dramatically, the average joe on the street is struggling to keep up.  I know that I am beginning to struggle, my grocery bill is up by about £8 a week, my petrol by about £3-5 and my fuel about £5 a week.  Doesn't sound much but when that's coming out of a student loan that doesn't rise accordingly, we're feeling the pinch.  I hope there won't be a recession as many will suffer, but it does seem to be heading that way.  It's certainly not helped by those greedy idiots on the exchanges who are deliberately planting false rumours about banks being in trouble just to make yet more money.  They fail to realise it's everyone else's life they're playing with while they knock back the booze and swan around in fancy cars.  Grrrrrrrr  >:( >:( >:( - sorry rant over!

[ACE]

what if they quadruple f*g prices?

I'll do what I did last xmas. I'll give it up. ;)

Any other price increases will get passed on to my customers, who do not worry about little things like recessions

[betula]

House prices are a joke.We will end up with a severe housing shortage because people will not be able to afford them.I feel sorry for the young people today.
Yes I think we are heading for recession.

[OllieC]

It depends on how things go with our cousins across the pond. And I reckon the US fed will do whatever it takes to avoid a severe recession. If what worries people is the housing market, then I wouldn't worry. Thanks to our sensible approach to immigration, demand will continue to outstrip supply & our precious house prices will not suffer much... perhaps a little correction but nothing like the end of the 80's...

[OllieC]

I just got this e-mail through on this topic. I have a very exciting life, as you can tell...

King warns of new phase to credit crunch
Wednesday 26th March 2008: 11:42By John BakieMervyn King, governor of the Bank of England, has warned a committee of MPs the credit crunch is having a major effect on the UK economy. King also promised to inject more cash into the money markets to try and restore financial confidence.

Speaking before the Treasury Committee, King told MPs that the credit crunch was moving into a new and different phase.

Libor rates have remained high despite the central bank pumping billions into the financial system and King says the problem is not in the real economy, but within the financial sector.

King is concerned that central bank efforts to improve confidence have so far failed but says the Bank of England will continue to offer cash in an attempt to boost confidence.

However, this was only a short-term solution, he says, and a plan to boost long-term confidence would need to be discussed with the banks.

He did not predict a house price crash, instead saying prices would remain broadly stable for the next few years, enabling wages to catch up.

[powerspade]

I work in the music trade and for me the recession began last September. Thank goodness I only have a few more months before I retire but even after then I shall have to keep on working a couple of days a week. One thing I glad of is having a very big allotment which has allowed me most good years to be self sufficient with regard to veggies, When I retire I`m planning to take on a few chickens.  With the price rises in fuel,  council tax, water etc ., something positive has come out from them - I gave up the fags

[okra]

Never mind recession - could be even worse - i think we are heading for a depression

[okra]

Just to clarify

So how can we tell the difference between a recession and a depression? A good rule of thumb for determining the difference between a recession and a depression is to look at the changes in GNP. A depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe.

[sims girl]

thanks for clearing that up l was never sure about that  ???

[Mr Smith]

I'm working in the Motor trade part time and the dealer I work for is overwhelmed with new business and customers, I personally I think folk are spending before Gordy gets his mitts on it :)

[kimbobill]

It depends on how much we listen to the media and talk ourselves into a recession, things are getting tighter but it's after we have been in growth for the last 14 or 16 years. I do agree that house prices have got a corection but don't forget that if you get a 3% pay increase that equates into being able to borrow 12% more for your house giving you a housing inflation way above wage inflation

One of the basic things we should do is buy British products, if we were to change our habits and look at what we buy with just a 5% move to British instead of foreign items we would wipe out our trade deficit

for instance Lever is British and proctor and gamble is American, Cadburys instead of Nestle. Buy Cars manufactured here instead of europe. look at your mobile and landline/broadband provider. you don't have to change everything, just take a leave out of the french way of life and surport your own country

[Eristic]

we should do is buy British products

Such as?

[Busby]

Eristic, you've hit the nail on the head !

But apart from the chuckle - just think - without Europe and the rest of the world to export to there wouldn't be any British goods - unless of course you mean that  Britian would continue to export but not import...

[kimbobill]

we should do is buy British products

Such as?

Who's fault's that!




Ben and Jerry's
colmans
Persil
P G Tips
LUX
Knor
Vasaline
etc

Unilever have about 40 well known brands to choose from,

pharmaceuticals we have some of the biggest companies in the world,

Rimmel and boots are British. Rimmels new mascara is fantastic and there's 2 quid off at the moment and made over here

We produce as many if not more cars than ever before I know that are not British companies but they export to Europe and America and at the end of the day there are very few motor manufactures that make money so the employment and where they are made are more important.

Vodafone and talk talk are the only British mobile operators left ....I think

Tescos Sainsburys Morrison Gateways are British, Asda's now owned by the Americans

Travis perkins group British Jewsons = French.


I know it's not easy and there are certain items that I still buy that are imported but for our own sake at the end of the day just take a few minutes each week to look at who makes your products and where they come from and change one a week or one a month or if your up for a new car (mine are made in 1984 and 1986 and 1994 I know I shouldn't have three cars but I do ::)) look at where it's made