Fuel.

Dan:_4

HammerSmashedFace wrote: »

The shopping malls were full at the weekend (first time I've been for 6 months so wouldn't know), so I guess many people are spending their mortgage savings rather than paying down debt.

Why are you assuming that all the shoppers 1. Have a mortgage and 2. are on the SVR or Tracker?

doire_2

Im from Derry in NI and before the recession i was able to go across the border to Donegal in the Republic of Ireland (2 minute drive) to get fuel much cheaper and also get that little bit extra due to the exchange between sterling and the euro.

They built 4 petrol stations right next to each other becasue the trade from Derry to buy petrol was booming!

Now they are charging £1.07 for unleaded. Not worth my while anymore and not likely to change for a while either.

HammerSmashedFace

Cleaver wrote: »

No offense Mr Face, but I find this a really odd perspective. You see a shopping centre full of people and think that 'many' will be spending their mortgage savings and not paying down debt. Is it not possible that the vast majority will just be there buying stuff with money that have allocated to buy stuff with?

Very optimistic of you Cleaver, but the malls were as full as they were in 06-07 and with economy in nothing like the shape it was then, I don't buy it. With rates as low as they are and well over 5 million households on SVR's or trackers the personal debt mountain should be reducing at record rate, it isn't.

Oh and no offense taken mate, there is nothing like a bit of fisticuff debating early in the morning.:D (And yes it is early when you have a week off).

HammerSmashedFace

Dan: wrote: »

Why are you assuming that all the shoppers 1. Have a mortgage and 2. are on the SVR or Tracker?

Hey up Dan, how you doin ?, thought you'd gone the way of the dodo.:D By the way, fair point, but people should know by now I look at the dark side of things.

Cleaver

HammerSmashedFace wrote: »

Very optimistic of you Cleaver, but the malls were as full as they were in 06-07 and with economy in nothing like the shape it was then, I don't buy it. With rates as low as they are and well over 5 million households on SVR's or trackers the personal debt mountain should be reducing at record rate, it isn't.

As Jonny said, there has been an increase in unemployment. Some pay freezes, or lower payrises than a couple of years ago.

For the vast, vast majority of people they have the same amount of money they had back in 06-07. I think everyone at the moment has one eye on their job and is hopefully a bit mindful of the situation we're in as a nation, but people still buy stuff. You do understand that the vast majority of people remain fairly unneffected by this recession and life goes on as normal for 90% of people?

We were on a 5 year fixed rate mortgage of 4.7% until early 2009 (I think). Then we moved on to the SVR of... 4%. It's hardly earth shattering stuff. It made our mortgage 15% of income, rather than 17%, or something like that. Hardly a driver to race to the shops and spend, spend, spend.

Edit: sorry, just to be pedantic: you said I was being optimistic when I don't think I am. Go to any shopping centre and the majority of people will be in control of their finances. A minority will not be. I think this is a realistic view.

doire_2

I never go to shopping centers. I buy all my stuff online. There are loads of vouchers online which enable you to get stuff much much cheaper

Someone should tell all these people

Cleaver

doire wrote: »

I never go to shopping centers. I buy all my stuff online. There are loads of vouchers online which enable you to get stuff much much cheaper

Someone should tell all these people

Just as an example, the Trafford Centre in Manchester isn't, in a strange way, about shopping. It's about social interaction for teenagers and young people. Lots of young girls done up to the nines on 'dates' with young lads who all look like they are in JLS. These shopping centres are like a mixture of a church, entertainment centre and adult-creche for many. Like an urban park, if you will.

Obviously there are shoppers as well, but it's always an interesting place to people watch.

Me and the Mrs sometimes go during the evening when it's quieter, as if you need a load of 'stuff' it is sometimes handy to have everything in one place. But we both work in the city centre so tend to use that more. On the rare occassion we do go to the Trafford Centre I spend my time pointing out 21 year old girls who have a face full of make up, 4 inch heels, little skirts and boobs every which way to my missus and asking her why she didn't make such an effort for our shopping trip. The look is often priceless.

I don't do much online shopping as I tend to find that I'm never in when it get's delivered (if it's too big for the letterbox of course) and I have to then go and pick stuff up from the local sorting office, which is handily open 3.45am - 5.00am every third Wednesday of alternate months.

BenL

Conflicting reports on the radio this morning about fuel prices.

The AA say its cheaper than last year. Fuel Prices were £1.12 a litre for petrol back end of last year i think they said.

Petrolprices.com report said petrol has gone up 25% this year from a start of 85p a litre.

It all depends on the dates you take the information from.

HammerSmashedFace

BenL wrote: »

Conflicting reports on the radio this morning about fuel prices.

The AA say its cheaper than last year. Fuel Prices were £1.12 a litre for petrol back end of last year i think they said.

Petrolprices.com report said petrol has gone up 25% this year from a start of 85p a litre.

It all depends on the dates you take the information from.

Nice spin from the AA, they forgot to mention that oil was at an all time high last year, so hardly surprising hey. Oil is around 60% of that now. Not sure I'm right when I say this but I'll say it anyway...... does this prove the point that adding billions of freshly printed money into a system and devaluing a currency doesn't actually increase any kind of wealth it just means you need more of it to buy the same amount of goods......... not great when wage inflation is as low as it is.

Really2

October 08
Petrol 106.4 p/litre
Diesel 117.7 p/litre
Oil $67.15 / barrel

November 08
Petrol 94.9 p/litre
Diesel 108.8 p/litre
Oil $49.94 / barrel

November 09
Petrol 108.6 p/litre
Diesel 109.85 p/litre
Oil $78.49 / barrel

http://www.theaa.com/motoring_advice/fuel/
Oil was not at record highs this time last year.