who is terrified?

Thrugelmir

mizzbiz wrote: »

I'm concerned that we have no idea of the scale of the crisis. Hands up anyone who really understands what the scenario would be with a total economic collapse, since that is what all society is based on, not just Western. The collapse of the Roman Empire brought the Dark Ages and everything that went with that.

What really bothers me is the 'it's a global thing' comment, because that doesn't justify it. While the minority saved, the majority blew the free-for-all without ever stopping to ask the bigger question.... where is all this money coming from, where does it sit and wait to be distributed, what happens when the sums get too big and the numbers don't fit on the screen anymore?

Fundamentally, though, it has been government and monetary policy that has caused this. If free cash is thrown at you, most of you take it.. It's the cash-throwers that i take issue with. We did not have to be part of it, the elected government chose to be part of it.

What is most 'terrifying' is that normal people could see the problem, the unsustainability of it all. Why didn't the government, or these great 'economists' that everyone on here is so fond of quoting. Are they incompetent? If so, what are they doing ruling a country? If they couldn't see this coming, then I would take their predictions for 3.5million unemployed with a bucket of salt.

The Dark Ages lasted around 1,000 years in England and resulted in us Brits going backwards technology wise. Something unlikely happen in this day and age. Unless we resort to building houses out of wood again instead of stone.

Savers outnumber borrowers 7 to 1 in this country. Personal debt has spiralled out of control due to an unregulated house lending market in this country.

neas

unless theres a massive rebellion and power plants no longer work, and those with the knowledge to operate, teach or rebuild have been murdered, killed for simple resources by chavs with tyre irons?

i get the feel of a mad max society..

mr_jetlag

Personally, I'm quite the worrier even in good times, I've been defensive with my savings and investments, have lost slightly less than the average and am in a good place health, family and career-wise.

Even if I lost my job, and house, and savings, I'd have family and friends to support me. I gather this is true for most people.

So no, not terrified at all. Worried - always.

Generali

Ok.

Everyone take a big breath in.
.
.
.
.
.
And out
.
.
.
.
Reasons to be terrified:
Banks in all sorts of trouble so how're you going to pay you bills?
How's your boss going to pay his bills?
How will the Government pay their bills?
If the Government can't pay their bills does that mean the kids will never go back to school so it'll be like the longest ever summer holiday only without 2 weeks in Alicante in the middle of it?

Reasons to be unterrificated:
-No matter what happens, salt won't be ploughed into the soil and (as things stand at present) physical wealth won't be destroyed: the value in numbers on a page of your house might fall but it's value as a means of sheltering your family won't.
-Can the country feed itself? Not directly but probably through barter it could be done (it it comes to it which is unlikely)
-Can medicines be distributed? The UK is a big R&D area for medicines and for production too so that's probably ok.
-Water? You kidding me? Go to Manchester and stand with your mouth open for the day.

So what more do you need (rather than want).

It'll work out in the end.

indianropetrick

Whilst things are going to become very nasty economically in the UK, it's important that people don't become terrified. Whilst we have seen drops in house prices and our currency is in the doldrums, things could be alot worse. As some posters have mentioned, the media love a bit of drama, and scaremongering headlines seem to sell papers for some bizarre reason.

Again, someone else mentioned the importance of health. We should enjoy our lives and our health as they are not guaranteed. If you found out you had a life threatening illness tomorrow, I'm sure it would make many concerns I read on here such as whether to 'hold sterling' or buy a property pale into insignificance.

Enjoy life today is what I'm trying to say! :beer:

IveSeenTheLight

neas wrote: »

:eek:


or maybe...

http://www.2012endofdays.org/general/2012-end-of-days.php

Yawn, where's your sandwich board?

indianropetrick

IveSeenTheLight wrote: »

Yawn, where's your sandwich board?

A yawn would imply that you find this issue boring and tedious so why bother to even post?

The 2012 phenomenon is actually quite fascinating...

katiegizmo

if nothing else i have learned more about the economy the last few months than i had in my life before.... maybe some people will wake up financially when they see the foundations are not always as solid as we thought. agree that the media has a part to play in making things seem even worse than they are...

if it puts an end to the 'i dont care about my debt i'm gonna keep buying what i want regardless' culture that some people embrace then that would be a very good thing in my eyes

WTF?_2

domcastro wrote: »

I was worried but I'm naturally a doom-monger. I'll feel safer once I move into my house (because if things get really bad, the government might compulsory borrow all my savings and give me an IOU)

Your savings already are an IOU - from the bank to you.

And should you cash them out they'll go into legal tender which is a government IOU.

The government don't need to seize savings, they can take your wealth simply by printing more money which transfers a proportion of your accumulated wealth to them. A side effect is that other Sterling debtors also benefit.

Really2

indianropetrick wrote: »

A yawn would imply that you find this issue boring and tedious so why bother to even post?

The 2012 phenomenon is actually quite fascinating...

Is it? I have forgotten how many times the world was going to end in my life time and I am only 32.

The only certainty on these storys are that you could bet your life savings it aint going to happen.
(even if it does you ain't lost anything;) )