who is terrified?

feeta

BlondeHeadOn wrote: »

When all said and done, it's only money...

I'd be terrified if I lived in Zimbabwe - they have a life expectency of 37 there - just 37 years old ! That is terrifying.
:eek:

I'd be terrified if I lived in the Congo, or Somalia, or anywhere where human life is hanging on by a thread due to wars, poverty, disease...
:eek:

But I don't, I live in the UK, and okay there are economic problems at the moment and unemployment is rising - but my life expectency is still good, and we're not fighting a war in the streets, and I am able to eat and I am not about to get cholera from the water supply, and we have a welfare state which is not perfect but does at least try to help those in real need.

So terrified - no.

A bit brassed off - yes.

There is a difference....

I completely agree with you here.

Things are going to get tough, but we still have our lives and (most of us) our sanity.

beaujolais-nouveau

chucky wrote: »

i think that you forgot to add something like this to the end of your post

"I know we have had recessions before, but that was before the greedy nasty culture that we have now and without all the immigrants here. Civil unrest is sure to break out and knowing how weak and watered down the law is, God help those who get caught up in what is likely to happen."

What an idiotic thing to say. Please note that, although you have put that in quotes, I never said of it. And I certainly didn't "forget" to add that.

Am I allowed to say: dipstick

Anyway, it is a depression/slump - not a recession.

beaujolais-nouveau

Rochdale_Pioneers wrote: »

Anyway, how bad will it be? We're talking about a possible peak of 3.5m unemployed - so less than 10% of the workforce.

No one but you is claiming that 3.5m unemployed is going to be the "peak". The peak could turn out to be 20m.

sdooley

our currency is crashing more than house prices!

Actually that's one reason the drop in the £ may be a good thing. House prices have dropped perhaps 20%. But in euro terms they've dropped 40%. At some point people on the continent may start buying second homes in the UK!

chucky

beaujolais-nouveau wrote: »

What an idiotic thing to say. Please note that, although you have put that in quotes, I never said of it. And I certainly didn't "forget" to add that.

your inaccurate and dramatic rant was going that way - so just added the expected bits.

am i allowed to say: Drama Queen

beaujolais-nouveau wrote: »

Anyway, it is a depression/slump - not a recession.

so we're in a recession, thanks for telling us all - should i invest in some good home security. Alarm system, several security cameras, pack of savage dogs, a shotgun or if no license a baseball bats in each room. At least I will be able to protect what I actually do own.

Is it that bad?????

Conrad

beaujolais-nouveau wrote: »

No one but you is claiming that 3.5m unemployed is going to be the "peak". The peak could turn out to be 20m.

Pessimism just aint what it used to be, eh:rotfl:

caveman38

I'm bloody worried. Me, my wife and sons have all our life savings in Halifax and Barclays. What if they are nationalised can the treasury still guarantee my savings.
Will someone give me some assurance, please.
Even if I did queue up and get it out (assuming I can surrender bonds over the counter) where would we put it?

Datasafe_2

sdooley wrote: »

Actually that's one reason the drop in the £ may be a good thing. House prices have dropped perhaps 20%. But in euro terms they've dropped 40%. At some point people on the continent may start buying second homes in the UK!

And why is that a good thing? Johny forigner coming over and buying our houses is the last thing we want. How can you even think of such a thing?

spuds_2

Keep calm and carry on.

WTF?_2

sdooley wrote: »

Actually that's one reason the drop in the £ may be a good thing. House prices have dropped perhaps 20%. But in euro terms they've dropped 40%. At some point people on the continent may start buying second homes in the UK!

Residential property in the UK tends to be bought by locals - given the awful climate in most of the country there isn't much demand for foreigners to buy second/holiday properties in the UK. And locals tend to have Sterling denominated savings and incomes.

For that reason, even though anything denominated in Sterling has shrunk in 'real' value quite a bit over the last few months I think the effects in nominal terms on house prices won't be as marked as the 'real' price adjustment suggests. Though IMO there will be some effect as inflation eventually filters in and exerts upward pressure on all prices.

It just depends on how long it takes for real inflation to get a hold. If the government manages to get away with printing money and handing it out through the banks at unrealistically low interest rates that could be sooner than one might think.