Recession, what recession...Isn't it great??

Generali

dervish wrote: »

Cruel, heartless and insensitive. :rolleyes:

I have friends who have lost their job recently and they are not h=going to have a great Christmas.

When the economy turns sour, people with cash looking to buy assets can do well.

In Aus, Goldmans have started a new index of Toys for Sale. It is a count of the number of boats, jet skis, sports cars etc up for sale 2nd hand in the classifieds. Lots of these are likely to be the first signs of distress showing through into personal finances.

mitchaa

Cannon_Fodder wrote: »

Things can't be that great if you are even having to consider second-hand...

Hehe, true, very true, but have you seen the depreciation of new cars nowadays.

My boss paid £66k for an Audi RS4 last year, he was offered £29k trade in against an Audi Q7:eek:

That along with the fact im a tight jock, refuse to buy brand new, always buy at a year old and let the 1st owner take the big financial hit;)

amcluesent

>the usual responses of how we are all going to be living in caves come 2050<

Good article in the Torygraph by Evans-Pritchard about reversion to the mean. Nor just house prices to 3x salary, but reversion to equivalen living standards for people in Mumbai, Bejing and London. No reason why the West should remain privildiged in that respect.

Collapsing fractional-reserve banking, bloated non-productive sector, loss of manufacturing skills, peak-oil, peak-water, climate instability - I pity our kiddies.

LeLLe

I'm finding it very hard just now although i'm (only just) keeping my head above water.

I don't know how long it is going to last for but i know when it's over i will appreciate money a hell of alot more! The luxuries like having full kitchen cupboards and not having to turn the heating off after X amount of time because i can't afford it.

I hope Karma comes round and bites you in the !!! for your insensitivity

Ms_Piggy_2

I've just come back from a friends new house.... worth at least £500k.

She's a nurse, he's a consultant - neither jobs are likely to be at risk of redundancy.

My BIL&SIL are teachers - she's a deputy head. Neither jobs at risk of recession.

These are families with very good incomes and great job security.

Phirefly

Ms_Piggy wrote: »

These are families with very good incomes and great job security.

It is naive to assume that public sector workers are any more secure than the next person.

fc123

Phirefly wrote: »

It is naive to assume that public sector workers are any more secure than the next person.

Rampant, high inflation is the killer for those type of jobs...the salaries never keep up as they are reviewed annually.
UK isn't in that situation right now but my dad experienced it during the 70's...his uni salary just couldn't keep up with the rising cost of living. Any consultancy work was taxed to death, so, only worth doing for any academic status that the job had.

amcluesent

>These are families with very good incomes<

Paid by tax and borrowing. Anyone else noticing the huge increase in work 'on the black' to avoid income tax and VAT?

mitchaa

Phirefly wrote: »

It is naive to assume that public sector workers are any more secure than the next person.

Some job categories are recession proof, infact a lot are. If you provide a service the country cannot do without, then you are recession proof

Consultants and nurses would fall into that, yes.

neas

indeed... we still far better off than east..