Credit Crunch Return ???

Rainy-Days

All this unease in the stock markets and Euro takes me back to when the proverbial really did hit the fan back in 2008! Big stores such as Principles, Woolworths and Zavvi going to the wall was sad to see.

Today, the news is dominated by yet another serious possibility that we are in for another credit crunch / recession on that scale. In reality we have been tetering on the edge of recession since we came out of the last one. The whole world economy is in dire straights and it is going to take something mammoth - such as the Euro to completely collapse - to take everyone back to the begining and starting all over again. The USA is laden with trillions in debt that even children being born today will stll be paying that debt when they come to retire!

It makes for pretty concerning reading and the only way we came through the last bout was for us all to batten down the hatches and spending out on what we only had to on essentials. If we did not learn anything from the last bout, then we quite well will from this time round. The old stylers will come through it because, put quite simply, they have been able to spot a bargain at 200 paces and learned to cut their cloth according to their budget - regardless of how difficult that may be, or is about to become.

MRSTITTLEMOUSE

I guess it's only been a matter of time and a double dip was predicted since we never realy got anything resolved or infact recovered from the last recession.

My only worry is that we'll go into a full scale depression this time,all politics aside we don't seem to have any capable polititians to help us do we.

Rainy-Days

In terms of politicians there is no one that really stands out who could take the helm and drive us through this crap!

MRSTITTLEMOUSE

Rainy-Days wrote: »

In terms of politicians there is no one that really stands out who could take the helm and drive us through this crap!

I don't think we have any politicians at the moment capable of doing anything to be honest.
They're all a bunch of losers.

Butterfly_Brain

I think that the whole world economy is set to collapse and we will go into a depression far worse than the last one, so I have started stocking up on canned foods and non perishables - then at least we will have a fighting chance when it hits.
I think a lot of the problems with the western economy is that we have been flooded by cheap goods from abroad for far too long and have lost our own manufacturing base

MRSTITTLEMOUSE

Butterfly_Brain wrote: »

I think that the whole world economy is set to collapse and we will go into a depression far worse than the last one

Totally agree,and all they've done so far is put sticking plaster on an oozing wound.
They've never tried to resolve the actual problems,only tried to limit the damage.
I don't think they can now,we've gone too far and things will never be able to go back to where they were.

Spendless

MRSTITTLEMOUSE wrote: »

I guess it's only been a matter of time and a double dip was predicted since we never realy got anything resolved or infact recovered from the last recession.

My only worry is that we'll go into a full scale depression this time,all politics aside we don't seem to have any capable polititians to help us do we.

That's what I think. My town has certainly not recovered since late 2008. I started job-hunting in jan 09 and it took me 18 months to find something, via a temping agency. I'm still trying to find permanent work and letters that once would have guaranteed me an interview don't even warrant an acknowledgement that you applied.

taxsaver

The thing that I find most surprising about this thread and the media is the talk of 'going into another depression' or a 'double dip'..... in my view we never got out of the first one that started with the debt crisis of 2007!!

FatVonD

Spendless wrote: »

I'm still trying to find permanent work and letters that once would have guaranteed me an interview don't even warrant an acknowledgement that you applied.

I'm finding the same thing too, I've applied for a couple of maternity cover freelance jobs that I'm overly qualified for and would normally expect to walk into no problem and have not even received a 'thanks but no thanks' email. I live in the 'prosperous' south and this is the first time it's ever happened to me :eek:

MRSTITTLEMOUSE

taxsaver wrote: »

The thing that I find most surprising about this thread and the media is the talk of 'going into another depression' or a 'double dip'..... in my view we never got out of the first one that started with the debt crisis of 2007!!

I've always felt that too but they did insist we were recovering did'nt they :rotfl::rotfl::rotfl:.
I never believed them either,it was only a matter of time until the little cracks turned into blooming big ones like we're now getting.
Its going to be interesting watching this all unfold.

lilbert

Dont think we ever got out of the first recession! :eek: But i think its going to get a lot worse!