who is terrified?

subarusty

RainMaker wrote: »

Besides, what is the point in worrying about something you have absolutely no control over ?

This is why I am concerned, I don't tend to worry about issues I class as outside my control but I do have control of my savings. I can choose to put them in gold, shares, bonds etc. Making the right choice can make a massive difference, in the current climate this is more true than ever.

Also if the country is going to the dogs I consider whether emigrating is an option, the more sterling drops the less attractive this becomes as I would be arriving elsewhere with less. Therefore I am concerned because my actions can directly affect the future for my family.

The current climate means every decision made is even more important than in a stable economy.

fc123

hethmar wrote: »

What fascinates me is that when we get through all this, we will hear the stories of those who made billions on the back of the recession - if only we all had that insight right now.

I don't know if it was a modern myth at the time, but last recession it was said that more 'millionaires' came out the other side than were impoverished by it.

I am now past the OMG :eek: stage. I like understanding the theory behind it all though.
Apart from getting mighty riled up about the Russian ogliarch that defaulted on 2.5 billion (£ or $?), I am now concentrating my energy in the land of micro economics....My Land.


In Micro-economic Land, we are pretty busy, scurrying around making niche products for a teeny, tiny customer base that can't get enough of certain styles.
The factory I use is turning down work + had a chat with an embroiderer/label manufacturer yesterday. Only him left (apart from one small competitor) in the whole of the UK after the Import massacre in the clothing sector of the past decade. He has more work than he can cope with now as manufacturers coming back to UK for quick turnaround......plus not a lot cheaper off shore now.
Those that joined the race top the bottom, eventually got wiped out....but a few didn't join in ...and they are now doing fine.

I am terrified sometimes.

Total Worst Case; By end of 09 I could be bankrupted by our lovely shop landlord and lose everything we have worked for over the past 25 years.

Best Case; I grow what we started last summer, the shop does a killing with all the visitors and tourists....and I *whisper* could pay off rest of business debt (incurred during our own personal recession in 04/05) and our mortgage completely.


Also, our kids are 21 and 14 now, so I don't feel as scared in the whole providing dept.

Oh Hethmar...I'll reply to your PM later on tonight

Really2

hethmar wrote: »

What fascinates me is that when we get through all this, we will hear the stories of those who made billions on the back of the recession - if only we all had that insight right now.

The insight is buying assets shares property etc as they are going to hit lows.

It's holding on to them that is the problem.

Also as more companies go bump the more oppertuinity for rivals and smaller companies to grow.
Supply and demand when supply contracts demand on those left in business will increase.

Just dont ask me when that is.;)