Is the media coverage more because it affecting capital citys?

Cannon_Fodder

I think the level of media attention is a factor of the 24 hour news environment that we are unfortunately plagued with.

The London bias is partially correct, obviously due to the City impact. But there are back-office staff etc, out of the City...

Then the 'real' economy effects are countrywide, as companies fail to obtain capital, and ancillary industries are affected by dropping demand, which is why you get;

http://www.thisisbusiness-eastmidlands.co.uk/News/Derbyshire/Vote-saves-350-jcb-jobs-in-uk.aspx

Austin_Allegro

Realy wrote: »

I was just thinking is all the media hype greater as this resession is going to be more about London and other capital city across the world?
Being that the FSI is always based in the capital city's of the world are we seeing a greater panic because it is on their doorstep?

I work in the midlands and house prices have been affected but the recsession at the moment has not realy registered. (so far, unlike the 90s)

Is coverage higher because it affects the people in the capital more than those "poor factory workers up north" this time?

Could we see businesses moving from london to the north to cut costs?

I think the coverage is higher because, unlike previous recessions, this one was precipitated by the near-collapse of the world's financial systems. That hasn't happened since 1929 or so (or 1914 if you believe the Gov of the Bank of England).

The eighties recession, while serious, was essentially about a changeover from old heavy industry to service industry. This time we haven't got anything to change over to!

dopester

Realy wrote: »

I have no doubt lots will be affected and of course it will affect the north.
But what i am trying to say is it affected general industry a lot more last time. This time the capital are feeling the full force of it

This time it may help some exporters to grow.

The rest of the world is going in to recession too though innit?

What does UK make/produce that others want at a premium - that also they can't either make/produce themselves, or get cheaper from elsewhere - or just hold back on buying in the first place because they are skint or fearful for their own prospects?

Scottish whisky? British Beef? I'm not sure we can pimp our banking / investment stuff? Legal services? Military hardware? I just read Allegro's post and agree.

dopester

Realy wrote: »

I was just thinking is all the media hype greater as this resession is going to be more about London and other capital city across the world?
Being that the FSI is always based in the capital city's of the world are we seeing a greater panic because it is on their doorstep?

I work in the midlands and house prices have been affected but the recsession at the moment has not realy registered. (so far, unlike the 90s)

Is coverage higher because it affects the people in the capital more than those "poor factory workers up north" this time?

Could we see businesses moving from london to the north to cut costs?

A US news article or news video had the commentators I read last week was blaming the UK and Labour for where the USA and the near rest of the world finds itself now. I hope its one of the first among many tbh.

That is quite a swing from UK sheeple blaming the US for sub-prime. They accused Labour and the regulators for allowing a big relaxation of financial regulation, which in turned pressured the US regulators to ease their financial regulations in order to compete.

Everything you considered real about the economy, the prosperity, your jobs, your average wage of £25K+, the 300% HPI over 11 years.... so many people are going to kiss it all goodbye as the crushing weight of the debt limit brings it all down, and we are forced back in to economic reality and having the country and its children having to pay for the greed of the Labour generation.

Well done Labour voters. Well kin done. This time, not content with just racing the UK off the cliff, you've done the rest of the world in too.

sabretoothtigger

The markets look far forward, it'll effect you eventually and possibly far worse then predicted hence the nasty jolt today. The market is only back 5 years when 10 years might be more realistic

baby_boomer

I wish the market did go back ten years. It was way higher than it is now!

Agree with all the above analysis which suggests the difference between is that this recession is being led by financial services whereas the 1980s recession was led by manufacturing, hence the different perspectives this time round.

Asset deflation/disappearance in 2008 versus unemployment 1980.

So the meeja has focussed on financial markets (capitals) because that's where the action is. But our friendly BBC will soon oursource it to the provinces so that no-one feels left out, and they can't be accused of regional bias. Notice their roving reporter in the West Country this last week, finding out how people are coping in Stroud et al.

"Don't forget to send us your e-mails!"

God help them sort through the deluge as everyone fancies giving their twopenn'rth

sabretoothtigger

Yes sorry I meant pre dotcom boom so 1995 or 3000 as a more likely level. As I see it, gdp was twice as bad as predicted and the ftse only fell 5% that seems too optimistic to me considering its not just recession but other troubles with finance.
The only good news is commodities so maybe thats why it did not fall further.

From what Ive read the US market is on a cliff edge in terms of support level, Im not aware of analysis of our own market but usually we just copy them

Realy

dopester wrote: »

A US news article or news video had the commentators I read last week was blaming the UK and Labour for where the USA and the near rest of the world finds itself now. I hope its one of the first among many tbh.

That is quite a swing from UK sheeple blaming the US for sub-prime. They accused Labour and the regulators for allowing a big relaxation of financial regulation, which in turned pressured the US regulators to ease their financial regulations in order to compete.

.

I don't argue labour have been stupid but America is a petulant child at the moment blaming every one else for egging it on. But some day you have to stand up for what you did and i think the American public know who is to blame and it ain't the UK.

EdInvestor

Realy wrote: »

I was just thinking is all the media hype greater as this resession is going to be more about London and other capital city across the world?
I work in the midlands and house prices have been affected but the recsession at the moment has not realy registered. (so far, unlike the 90s)

Visited Brighton today, main shopping area was packed, plenty of people with full carrier bags of shopping. Most restaurants were full at lunchtime, we had to queue (albeit briefly) for a table. On the train home (also full), all the young people were talking or texting on their mobiles. Recession, what recession?

It was interesting to look at the GDP figures that came out on Friday showing a fall of 0.5%, sparking much doom and gloom talk. Most of the negativity was in transport, distribution,the motor trade, manufacturing and utilities.

Hardly surprising is it, given the price of oil over the last 3 months? Hasn't everyone been cutting back as much as possibly on energy use? How many companies have put off incurring oil-related expenses until the price came down? It will be interesting to see what happens in the next quarter now that oil prices have halved. We could easily see a bounce back.

It was also interesting to note that the business and finance sector registered a fall of only 0.4%, compared with a rise of 0.1% in the previous quarter. And yet in the last six months our entire banking system almost collapsed.

Odd isn't it?

I really wouldn't believe everything you read in the papers.

chucky

wow - another person that lives in the real world!!!!

i may PM some of the regular doom mongers to get out and see what happens in the real world