'Close this site for the recession?' blog discussion

JimmyTheWig

I must admit this was something I was thinking when listening to Martin the other day. (Not closing the site, obviously, but that this was going against the government's intentions.)

So shouldn't the government's response be to increase public spending, rather than cutting taxes? At least that way they would know the money was going into the economy rather than being "selfishly saved".

Because sometimes there is a conflict between what is right for the individual and what is right for society. And it shouldn't be up to us to have to make that decission. The whole point of government is to make decissions that wouldn't happen otherwise. If the government want spending to happen then they should spend. There are plenty of worthy projects that need money. They could start a mass green-electricity programme, for example. Or invest in decent public transport. Or employ people to make our green spaces nicer.
Or, something that would probably help more than anything, take companies making redundancies into public ownership to guard against the job losses...

Airwolf1

Having read the blog and what you're getting at, in all seriousness the site gives so much help to those in debt, those having technical problems with computers, viruses, insurance claim questions and so on I think some people would actually be really upset if the site did close. I think a lot of people (debt forums) keep each other going and it is an important thing in their lives if it is doing them some good, and at the same time getting good, helpful advice.

Also, the freebies and grabbit while you can forums would be sorely missed. I noticed the site reached a peak of most users online only a few days ago - doesn't this tell people something?

ragingbass

As in keeping with the whole site, superb blog!! For me, this is by far the best site on the web, although I am slightly concerned at how much time I am actually spending on it!!

There are few things that have had such a positive impact on me personally, and this site has genuinely helped to provide me and my family with a better quality of life. Thank you Martin, and thank you to all the people who contribute to this site and the forums.

foxxymynx

I don't think that MSE makes that much difference to the economy, apart from the claiming charges (bank and credit).
If a testimonial for a company ends up on MSE people flock to the said company, thus revenue increases.
The money a person saves is inevitably going to be spent elsewhere, thus lining the pockets of several companies instead of one, people are able to buy luxuary items when they can manage their finances better, a plasma TV, a holiday, a musical instrument, a new car, deposit for a house etc.
The people who are losing out IMO are legal loan sharks like the provident.
The government are still getting the tax from our spending, while the greedy supermarkets may appear to be losing out on the large shopping bills due to people shopping around, it is likely that they will be making what they lose back, again by people shopping around (eg, x, y and z are cheaper at asda, a, b and c are cheaper at tesco, m,n,j and k are cheaper at morrisons). Other than that, MSE is encouraging service providers and retailers to be competitive, as opose to "I have the monopoly, so 375% mark up, thank you very much!"

ampersand

MSE_Lawrence wrote: »

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's 'Should this site be closed for the recession?' Blog.

Click reply to discuss below.

##################################################
:eek: NO!NO!NO! :eek:

JimmyTheWig

foxxymynx wrote: »

The money a person saves is inevitably going to be spent elsewhere

While this is clearly true eventually, the point of this blog is that currently the correct thing for a MoneySaving individual is to _not_ spend money - i.e. pay off their mortgage quicker, or build up their savings pot.
But what the economy needs is the opposite - the economy needs people to be spending money right now.

scarlet_macaw

As you rightly say : "A prime cause of the mess we’re in is irresponsible lending, a lack of debt education, and some spending the equity in their homes in the belief house prices are a one-way bet." To this I would add the "I want it now mentality" which causes many people to buy things they can't really afford on dredit they have no hope of paying back.

The confusion over the apparent conflict between the needs of the economy and the needs of the individual is simply resolved, but was not addressed by the poor targetting of Darling's economic stimulus. The poorest members of society and those in debt should keep within their means and use any available surplus to pay down their debts. It is those with cash who need to be encouraged to spend it more, and this is best done by presenting them with short term bargains where the benefit can only be realised by purchasing goods thereby supporting the economy rather than by giving them an increase in income. An increase in income, targetted as it inevitably is at the lowest income groups does not have any economic stimulus value, the cut in VAT however, would, were it not so small as to be discounted by the majority in making the spending decision.

So in short there is no reason to close down the site, but there is a possible benefit in adding a section on how to benefit from the recession by taking advantage of bargains on offer for those who have the cash to do so. For example I will be changing my car early next year and I look forward to obtaining a discount of a level that would have been unimaginable on a quality vehicle a couple of years ago - Obviously any advice on such matters will need to be provided with a health warning not to buy what you can't afford, but there will be a better economic stimulus provided by selling extra cars at high discounts than by selling low numbers at full price as it will assist in preventing staff layoffs etc.

robpw2

i think martin should become the next chancelor of the exchequor , we need someone with a brain, someone who is not afraid to admit they have made mistakes and who is genuinely intouch with everyone and not pretending to listen to the artic monkeys to seem cool.

Martin keep this site open at times like this we need it more now that ever before , if only darling found his way over here he may be able to save somemoney

Daisy_Dumpling

Should you close the site?

No.

Should it be made a part of the National Curriculum?

Yes.

prudence41

Great blog Martin. At least his ethos is very clear - the MSE website is about helping consumers to help themselves. The irony for the Govt is that they want consumers to do the very thing that has contributed to the credit crunch/recession in the first place.

I'm relatively new to the site but as an active user (alright obsessively so), MSE is great when I need to save money and is inspiring in letting me believe that I could be mortgage free by February 2013.

KEEP THE SITE OPEN - JUST HAVE MORE PEOPLE USE IT!