Past Recessions - what were your experiences?

StevieJ

Sapphire wrote: »

I lived through two recessions, but they seemed to pass over my head – I didn't really notice them and kept working just the same as I had when there was no recession.

In a past recession I did notice a patch when there were many 'for sale' board outside houses. They seemed, in fact, to be outside practically every house on some streets.

I am, however, noticing this recession. It seems to be really bad and there does not seem to be much cause for optimism that anything is going to get better anywhere near soon, or any indication what the way out of the mess is going to be. I do feel quite fearful and am unsure where this country is headed.

I also do not remember a government ever permitting uncontrolled borrowing of the sort that took place over the last few years. Any fool could see where it would lead (and many people, on this site for example, predicted correctly what would happen), yet this 'government' allowed the whole giant speculative bubble to grow. I find the whole thing absolutely incredible and it makes be very angry when I think about it. :mad:

In a past recession I did notice a patch when there were many 'for sale' board outside houses. They seemed, in fact, to be outside practically every house on some streets.

How many boards do you see now ?

jamescredmond

this will be my 3rd recession and I can promise that it won't be nice; worse, perhaps, than anything since the 30's (citation needed).

as mentioned elsewhere this is going to be pretty nasty. so: gird up your loins. we'll get through. other generations have managed it. there's nothing to suggest that this one won't either.

Sapphire

StevieJ wrote: »

In a past recession I did notice a patch when there were many 'for sale' board outside houses. They seemed, in fact, to be outside practically every house on some streets.

How many boards do you see now ?

Why? What's your point? I was merely observing what I saw at the time of a last recession. :cool:

Now I see only this board.

Kez100

Whatever happens this time we all have much further to fall.

I have lived in this house 16 years and still have some 'inherited' furniture. By that I mean second hand. In fact, I am sat looking right at some curtains at the moment that came with the house and were not new then. This is our very last room to do up - but it's taken us that time to do the rest of the house because we do one room a year saving up first before we refurbish (plus our hall has been done twice due to a flood and kitchen and conservatory took longer due to the sheer expense).

Younger people just don't want to live that way and are going to have to.

Those with large debts are going to have to also pay them down before moving on. That will be hard. At least saving for something you want is psycologically empowering. Paying off what you have already had is not so fufilling - although if you can find a goal in it, that's the way to learn and move forward.

Re: sale boards. We are not really there yet though are we? 1989 was peak last time but dire situation we saw wasn't until 1994 - that was 5 years after. People do sit and wait things out for a while. Five years later is a different story.

mizzbiz

Forgive me for my youthful ignorance but can anyone explain why there would be power cuts during a recession? I can understand not being able to afford to put the lights and fire on, but were we unable even to generate enough electricity?

drbeat

mizzbiz wrote: »

Forgive me for my youthful ignorance but can anyone explain why there would be power cuts during a recession? I can understand not being able to afford to put the lights and fire on, but were we unable even to generate enough electricity?

They were power cuts during the 3 day week in the 70s. I believe it was when Heath was in power.

StevieJ

Sapphire wrote: »

Why? What's your point? I was merely observing what I saw at the time of a last recession. :cool:

Now I see only this board.

Compare to last time, how many board do you see now ? It is not exactly brain of Britiain

Kez100

Possibly power problems due to coalstrikes?

I don't know but you tend to get more riots/civil disturbance and strikes due to discontent during recessions. So far the main recipient of that this time has been the BBC!

I can see institutions like that coming under much more fire as the little people suffer they will demand much more vocally, like transparancy and more accountability from the BBC.

Sapphire

mizzbiz wrote: »

Forgive me for my youthful ignorance but can anyone explain why there would be power cuts during a recession? I can understand not being able to afford to put the lights and fire on, but were we unable even to generate enough electricity?

It was to do with the strikes that were constantly occurring at the time – they were a real plague for many people trying to go about their daily lives. It seemed that there would be strikes at the slightest thing. This was when the unions were still very powerful – now we have probably gone too far the other way.

Now that you've reminded me, I can actually remember working by candlelight in a publishing company, and it being quite cold because the heating was off.

eco-friendly_2

Standing in the front window of my TV and Video shop in a busy high st...






NAKED, and not getting a glance!