Credit Crunch "Worst Yet to come" !!!

ultra10

http://news.sky.com/skynews/Home/Business/Credit-Crunch-As-UK-Heads-Into-Downturn-Interest-Rates-Remain-Unchanged-Amid-Calls-For-Cuts/Article/200807215029889?lpos=Business_1&lid=ARTICLE_15029889_Credit%2BCrunch%253A%2BAs%2BUK%2BHeads%2BInto%2BDownturn%2BInterest%2BRates%2BRemain%2BUnchanged%2BAmid%2BCalls%2BFor%2BCuts

The worst the Economy will be since WW2 :eek: :eek: :eek:

WTF?_2

ultra10 wrote: »

http://news.sky.com/skynews/Home/Business/Credit-Crunch-As-UK-Heads-Into-Downturn-Interest-Rates-Remain-Unchanged-Amid-Calls-For-Cuts/Article/200807215029889?lpos=Business_1&lid=ARTICLE_15029889_Credit%2BCrunch%253A%2BAs%2BUK%2BHeads%2BInto%2BDownturn%2BInterest%2BRates%2BRemain%2BUnchanged%2BAmid%2BCalls%2BFor%2BCuts

The worst the Economy will be since WW2 :eek: :eek: :eek:

Yup.

Normally the media overplays things. However, this time they are just playing catchup after years of looking the other way.

fc123

Well, I am telling my customers to stock up on clothes now, make the most of low prices. £35 for a fab frock? Next year could be £60?
Some are actually taking it on board..seriously.
Even I think we should buy a new Dyson as our old one is not up to par anymore.....then batten down.
The Sky thing is a little sensationalist though

WTF?_2

fc123 wrote: »

Well, I am telling my customers to stock up on clothes now, make the most of low prices. £35 for a fab frock? Next year could be £60?
Some are actually taking it on board..seriously.
Even I think we should buy a new Dyson as our old one is not up to par anymore.....then batten down.
The Sky thing is a little sensationalist though

Sky, sensastionalist? Never!

Oddly, I was thinking about buying a load of clothing and stuff (high end electronics) myself in anticipation of steep price rises over the next few years.

Also thinking about cars - could do with a new one but the one I want is pretty high end and I'm betting that I can buy a 1 year old model in a year's time for a nice discount as people dump expensive toys that they can't afford

Perhaps Mr B can make himself useful as he seems to have some expertise in this field.

fc123

!!!!!!? wrote: »

Sky, sensastionalist? Never!

Oddly, I was thinking about buying a load of clothing and stuff (high end electronics) myself in anticipation of steep price rises over the next few years.

Also thinking about cars - could do with a new one but the one I want is pretty high end and I'm betting that I can buy a 1 year old model in a year's time for a nice discount as people dump expensive toys that they can't afford

Perhaps Mr B can make himself useful as he seems to have some expertise in this field.

I'm getting you on-trend !!!!!! Trick is to work out what will increase and what will decrease.
Household goods etc made abroad and flown into UK will rise (due to inflation in China etc plus extra cost of fuel). Also volumes of goods produced will probably decrease too.....less retail outlets due to less consuming etc.........those that are left will be able to push prices up to where the prices need to be.


Cars are costing less and less. In fact son got a car for free but the ciosts of running it and fuel etc are far greater than he anticipated....he was all keen as the car was free. Its become the most expensive part of his life.

m00m00

!!!!!!? wrote: »

Sky, sensastionalist? Never!

Oddly, I was thinking about buying a load of clothing and stuff (high end electronics) myself in anticipation of steep price rises over the next few years.

Also thinking about cars - could do with a new one but the one I want is pretty high end and I'm betting that I can buy a 1 year old model in a year's time for a nice discount as people dump expensive toys that they can't afford

Perhaps Mr B can make himself useful as he seems to have some expertise in this field.

There's going to be lots of motivated sellers of 2 year old Audi's and X5's when the mew generation come to renegotiate their deals when the 2 year fix expires.

PasturesNew

fc123 wrote: »

Well, I am telling my customers to stock up on clothes now, make the most of low prices. £35 for a fab frock? Next year could be £60?
Some are actually taking it on board..seriously.
Even I think we should buy a new Dyson as our old one is not up to par anymore.....then batten down.
The Sky thing is a little sensationalist though

Ha ha... great idea.
£35 for a dress?? Blimey... most I've ever spent was £15. I think £35 is a whole year's worth of clothes in my world.

Let's not forget, no matter how tough things are out there, there will ALWAYS be people who buy, buy, buy. There will always still be people with an income of £2-3,000/month doing quite "normal-ish" jobs that have always been in a job and always will be (Local Govt, NHS, etc). So they won't change their spending habits and they all still love a bargain.

Good luck!

frugalpam

Don't remember the last time I ever spent £35 on a dress, and I certainly haven't got the money to stock up on goods. I buy budget stuff where I can. I work for Local Govt, have 20+ years of experience in my profession and bring home around £1600 a month. Wish it was £2000 - £3000 a month!!
My niece works in industry and earns £35,000+ plus company car. No-one I know earns a fat salary in local Gov't unless they're the HR Manager or hold a similar position.

dhassen

People who are employed by local govt, generally do not earn 2-3K a month.......... or anything like........... heard of the unison strike??

Microstar_2

I think there is a lot of mythology surrounding the Public Sector. I've never worked in it (thank God) but the pay seems to be mostly very poor. Medics and senior managers are well paid, but a lot of the rest would do much better in the private sector. My sister is a classroom teacher and even being at the top of the scale the pay is only around £31k. Its a rough school and she gets a lot of hassle, she's permanently shattered and works through most weekends during term time. I wouldn't get out of bed to do her job on that money.
A guy who I've known many years is a university lecturer and world expert on satellite communications. He's been all over the world to conferences etc and advised the MoD. I reckon he brings home less than 50% of what I do in the average year.

As to all the BMW X5's and Audi Q7 etc., please bear in mind that these will be mostly company owned vehicles and NOT the result of MEWing. I socialise with a fairly affluent set of people and they drive expensive cars and take expensive holidays as a result of having a high income and not through MEWing. Don't kid yourselves.

frugalpam

Teaching..... now that's a job I'd NEVER do. I used to work in secondary schools years ago in my role as a Careers Adviser and always pitied the teachers. As you walked round the schools you'd hear the kids shouting and screaming - many teachers are just there for crowd control and can't do much about anything as their hands are tied. Teachers deserve every penny they get - and the long holidays thing is a myth. They need to work evenings/weekends and holidays just to keep up with the bureaucracy thrown their way.