Meltdown Monday !..Thousands loose Jobs!

carolt

Jimuth wrote: »

Well that utterly pointless drivel just made me laugh more than the other thread did. :T

Ah - so it did have a point.

Well, if it makes people happy to discuss spelling as a way of going 'la la la' with their fingers in their ears, then I can see it serves a very important need psychologically.

More discussion of spelling then, please!

Could we maybe split it into 2 threads? One for the 'la la la' types, and one for the 'let's actually talk about the really really scary issues'. Then everyone could be happy?

WTF?_2

carolt wrote: »

Fair point, dopester - but the fact that the pain may be necessary does not make it any less painful.

I wouldn't say I was too worried, personally - teaching is only one of many strings to my bow - but in terms of the economy generally - yes, I'm extremely worried. I was probably very naive to imagine that the housing market bubble could just work its way out of the system without crashing the system at the same time.

A learning experience for others too, I'm sure.

The credit/housing bubble and the economic 'success' of the last decade were interwoven.

Think about it - if you start lending out money willy nilly of course you are going to get an economic boom. Businesses get cheap access to credit to invest, customers borrow to consume, banks make cash lending it all out.

The trick is to make sure things don't get out of hand and to pull it in, in good time. This is something that the governments failed to do. Bankers just made more and more money from deals they knew were dodgy, but gained personally from making. Banks were under pressure from shareholders to show ever more profit. Consumers borrowed with abandon to spend on luxury goods and services. New businesses opened all over the place to try to get a slice of the cash cake.

All built on borrowed cash.

The thing is, that cash has to be paid off with interest in the end. And just as the expansion of credit was self-reinforcing, so will be the contraction which is now taking place.

Once you started looking into the 'miracle economy' a few years back, all this stuff that is now happening was pretty bloody inevitable. The only surprise is that it's taken so long to happen. Really, things have been obviously out of kilter since 2003 and there should have been a proper recession in 2001 after the dotcom bubble burst.

Every time the market has looked like correcting itself we have seen TPTB use low interest rates and lax economic policy to keep the bubble inflating. Now it has well and truly burst and we are on the way down at an ever increasing rate. We certainly haven't seen the worst of this yet and the effects will linger for years after that.


Individually we have no hope of affecting change in the economy. All a person could do was keep out of the property market themselves, stay out of debt and save money to weather the coming storm. And warn anyone who would listen.

Well, now things are playing out in an entirely predictable way. It's grim but I certainly can't change that. Luckily, I'm in a reasonable position having seen it coming and maybe I can get something out of it - a house without a mortgage or with a very small one. At the worst, I have personal financial security if I do lose my job due to factors outside my control.

geoffky

Chris2685 wrote: »

I wrote about it here:
... I don't see how he can call himself a financial advisor the more I think of it!

Anywho, sorry to go OT!

CHRIS i nearly had a fight with a ifa a few months back as he was trying to tell me now was the best time to put in a very large sum of money in the stock market as a tracker..i wiped the floor with him and told him he was a very very dangerous !!!!!!..

steadysaver

The fun of the English language

A Little Poem Regarding Computer Spell Checkers...


Eye halve a spelling chequer
It came with my pea sea
It plainly marques four my revue
Miss steaks eye kin knot sea.

Eye strike a key and type a word
And weight four it two say
Weather eye am wrong oar write
It shows me strait a weigh.

As soon as a mist ache is maid
It nose bee fore two long
And eye can put the error rite
Its rare lea ever wrong.

Eye have run this poem threw it
I am shore your pleased two no
Its letter perfect awl the weigh
My chequer tolled me sew.

clobber_2

Carol, I see your point, but I am still a terrible spelling and grammar snob, so I love it when someone else picks up on mistakes. I don't dare do it myself as I am very aware that grammar was a massive weakness in my education and everything I know is self-taught, and therefore quite possibly wrong.

I find it really difficult to read poorly constructed posts with bad spelling, and ectopic apostrophes stick out like boils on the Queen's bum and make me so nervy I have to lie down in a darkened room.

I also find it difficult to read long screeds without paragraphs, posts written entirely in capital letters, and posts with a ludicrous number of smilies (particularly the animated ones). I popped over to the DFW board a while back as I wanted some advice about disputing a payment demand, and all those bouncing Martins gave me a migraine. I haven't been back since.

fimonkey

ultra10 wrote: »

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/09/15/bcnmeltdown115.xml

quite possibly we will enter a depression, we are already in a Recession,

Please can someone explain the difference between recession and depression? (other than saying prozac is prescribed for the latter).

Thanks

tomstickland

luvpump wrote: »

Thousand losing jobs, Banks collapsing, Recession or worse gripping the Global community etc etc, & your getting stressed because someone has put an extra "O" in a sentance .. !!!!!! !! :shocked:

Yes, but it happens over and over again. People actually expend more effort moaning about it not being important than they do just learning the correct spelling.

fatpig_2

fimonkey wrote: »

Please can someone explain the difference between recession and depression? (other than saying prozac is prescribed for the latter).

Thanks

A depression (e.g. 1930's) is alot longer than a recession.