Perceptions of the recession

SGE1

Regardless of whether the media is exacerbating the recession or not, I thought it would be interesting to gage how its impacted individuals' perception of it.

Thinking honestly, if the media wasn't telling me there was a recession, I'm quite certain I wouldn't have noticed, because so far the symptoms haven't manifested themselves to me personally.

So think about it - if you hadn't watched TV / read the paper or listened to news programmes on the radio over the past 12 months, would you feel differently? If you visited a supermarket and noticed a few price increases, would you genuinely feel concerned about it, or would you spot it, but think nothing more of it, and attribute it to seasonal increases / inflation / supermarkets increasing their margin? If you had (a relatively low amount) stock/shares or a pension, and the value of your assets dropped, would you assume that the company you'd invested in was simply not doing well? That you made a poor investment? Or that it was simply to do with the ebb and flow of the market? Or would you associate these things with recession?

I personally think I would only really grasp the idea that a recession was occurring (if totally isolated from all media) is I and a significant number of my friends were made redundant over a short period of time. If I owned my own home and tried to sell, I might also realise the drop in value and attribute this to a recession - but these are both quite specific example.

Asheron

We were in Recession 2 years ago. The Media never said a thing

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Come to think of it, I don't think I could, however I'm sure I'm probably in a minority.

Asheron

God Bless The Media, did you know it is not the law for them to tell us the Truth?

SGE1

Asheron wrote: »

God Bless The Media, did you know it is not the law for them to tell us the Truth?

We're not talking about the media, we're talking about whether you would have realised we were in recession if nobody had told you we were.

Take your crusade elsewhere.

thriftybabe

Would have noticed as lots of friends have been paid off. Us ourselves have also paid off workers due to lack of work so we would have noticed. In addition all those in the know in MSE would have notified me!

lostinrates

I think I would have been able to tell....but its a hard world to imagine....no radio...no newspapers or online media! I think I would have noticed for the following reasons:

1. Changes in interest rates. (for our house purchase fund)
2. Changes in value of Euros, sterling and dollar (we hold currency, to some degree in those three)
3. My DH is in corporate law. He's most certainly noticed changes....
4. Pricing changes: I made changes to reduce petrol costs when they were increasing, and also I do a fairly standard Monday to Friday shop which doesn't vary much (I realise thats not particularly healthy) and the increases on that initially were staggaring. Like wise costs of animal feed have risen considerably...I would have wondered why as they relate....remotely to previous, and possibly future, area of work.
5. House hunting. You see stuff sticking...you'd eventually start to wonder why. Similarly, mortgage availability.

ETA:
6. Other family work changes.

I think there would have been other explanations for many of them, but pieced together, it wouldn't have been a difficult assumption to come to.

deepintrouble

I currently work in the construction industry. Sales are down approx 50% Bad debts have gone up and companies are folding all over the place. A housebuilder often goes bankrupt taking twenty or thirty sub contractors with it. They in turn end up owing money to the builders merchants who are panicking about paying bills to their suppliers.

So in answer to your question yes, i would have noticed.

Obukit

I would do through my job, as business is down across my sector, with a corresponding squeeze on jobs (we haven't hired for two FT positions, and are about to make 3 PT staff redundant out of a total staff of 15.5).

Personally when we saw the recession coming we battened down the hatches and so have a much more basic, but liveable quality of life - hopefully both me and my girlfriend's job a quite secure so should be able to see the recession out and save enough to take advantage of the upturn. I feel sorry for those with debts etc. who are being squeezed though.

Millionaire

I personally know of at least 5 people being made redundant and many others that are looking like they will be too. These are friends/family.

So yes I would have noticed.

Asheron

Im just saying the Media took 2 years to tell you.