KTjazz - the great life overhaul

KTjazz

I'm in a too much month - not enough money place just now.

I'm feeling down because I feel wasted here. I want to get my flat sorted, exercise, acheive all my goals...

but I want that all done YESTERDAY!!

I don't have the patience for this...

Piquant_2

I'm with you both. Work is just a painful means to an end for me too. So difficult to do the job well, when you don't get any satisfaction or enjoyment to make the day go by....

KTjazz

I want to work for myself someday, but I don't know doing what.

I also know that I have a nasty habit of giving up when things get hard so perhaps a business of my own isn't the best plan ever... But the freedom (if it worked out and we weren't in a financial crazy land)

I've noticed something else lately, I've become obsessed with the financial state of the country and financial news... I feel like an invester but I haven't even nvested in myself yet!

maybe I just like to learn...

Piquant_2

KTjazz wrote: »

I want to work for myself someday, but I don't know doing what.

I also know that I have a nasty habit of giving up when things get hard so perhaps a business of my own isn't the best plan ever... But the freedom (if it worked out and we weren't in a financial crazy land)

I've noticed something else lately, I've become obsessed with the financial state of the country and financial news... I feel like an invester but I haven't even nvested in myself yet!

maybe I just like to learn...

I've started watching and listening to the news about the financial crisis. Unfortunately, I can't get my head around a lot of it. Some of it seems like desperate measures to me. Why don't they instead of giving obcene amounts of money to the banks, give Joe Public £100 each, it would end up in the banks eventually and apparently we now own the banks.... see I told you I didn't get it! And as further proof - if the interest rates go down, why don't the banks decrease the interest rates on credit cards??

My one brain cell hurts now...

KTjazz

Piquant wrote: »

I've started watching and listening to the news about the financial crisis. Unfortunately, I can't get my head around a lot of it. Some of it seems like desperate measures to me. Why don't they instead of giving obcene amounts of money to the banks, give Joe Public £100 each, it would end up in the banks eventually and apparently we now own the banks.... see I told you I didn't get it! And as further proof - if the interest rates go down, why don't the banks decrease the interest rates on credit cards??

My one brain cell hurts now...

The part I can't get my head around---> If The credit crunch was caused by people not spending, or spending less, did we all cause it?!

Piquant_2

KTjazz wrote: »

The part I can't get my head around---> If The credit crunch was caused by people not spending, or spending less, did we all cause it?!

I wish I understood it, I have tried, but the concept of it just flits away!

This morning on the news they said more doom and gloom was coming because the inflation rate had fallen to 2 or 3%. Aa couple of months ago they predicted doom and gloom because the inflation rate had risen to 5%

doodledo_2

Mmmmm I don't understand it all either.

In my head its something to do with irresponsible lending by banks I think lol

In my world its because the petrol and energy prices went up crazy amounts as did food so my disposable income dropped which meant I stopped spending. So if lots of us were in this situation the shops were less busy causing them to close.

KTjazz

In BSL (British Sign Language), there is no one definative sign for "credit crunch" yet because it means so many different things to different people. It has no direct translation as it's meaning is so unclear.

One will emerge but as of yet there is none.

*On a side note, my head was hurting enough but then I had to go onto the next part of my development work and ended up in the head version of a tail spin about the concentration I needed for my samples and how to acheive said concentration... ARGH!!!

Karmacat

Hmmm.... I would have said I understood it .... but verbalising that understanding .... hmmm..

Banks needed new customers, cos their rates were so marginal they weren't making money unless their business was expanding.... so they went into the subprime market, in America and elsewhere.... and to do it in a "safe" way (hollow laugh here) they sold on the mortgages they'd created - thats what meant by CDOs - Collateralised Debt Obligations. And all over the world, but especially here and WesternEurope, other banks were doing the same thing, in fact they were often the same banks. And they did it in other markets too - loans, credit cards, etc, not just mortgages.

But they took it too far, the people who were supposed to repay all these debts couldn't afford it. So it happened everywhere, but the *crisis* started in America partly because Americans *in general* are more inclined to draw a line and walk away, whereas *in general* in the UK we'll fight to keep the roof we bought.

House prices started to collapse, the stock market was showing terminal weakness in early summer 2007, and credit got crunched, i.e. stopped, for everyone when the banks had to write off so much debt that their balance sheets started to break banking regulations - they have to have a certain amount of money in reserve compared to the amount they lend, and because they'd written off so much in debt, they didn't have that any more. House prices collapsed some more.

And credit being stopped has killed off firms with existing problems, and is now affecting firms that are perfectly healthy. So unemployment is rising.

I *think* thats it - if ZTD was on this thread, he'd put me right

KTjazz

Karmacat - I bow to you!

Now, to come up with one single sign that means that....