Any1 wonder when economy recover?

gailey_2

Just this year so weird dont know where we heading?

we had credit cruch then in recession then out of reccesion.
But personally and others I speak to 2011 been bad year feels worse than credit crunch yet we not actually in a recession.

Over last 6months

interest rates kept low- we rent so no help to us/
inflations risen
petrol prices high
vat went up in jan.

on news not a week goes by without more job losses.

add eurozone crisis and global downturn to mix
low growth do worry.

I try worry about what I cant control but such negative outlook its hard.

every few months we as a household reveiw costs, cutback and budget carefully yet many countries dont.

i have stepson whos 13 worry about jobs and training as pretty sure he will leave school at 16.youth unemployment so high.

my eldest is 5 so hoping 11years when shes 16 economic outlook be better and i should just ensure she gets best education, good results and knows the value of money.

House buying looks like maybe 2017/2018 making me 38!
want to clear debts by 2015 then need to save 20%deposit , hubby be 46 but better late than never.

Dont know what will happen to house prices in that time
or how easy morgages will be by then.

Do think coalitions got better grip than labour.

hubby keeps saying they cant expect things to constanty grow
that the economy will have its downtime.

we have very little disposable income so not big consumers,.
job opportunities in retail sector pretty bad right now.

but we staying positive and think the good times return eventually.

Please note I said good not irresponsible!

I do agree with protesters the economys quite unequal.
lot of losses and financial news is speculative.
the news goes mad about the markets but they go up and down by the hour sometimes based on rumours.

all the leading economists have opposing veiws.

I going to make a guess and say 2015/16 things may get better as defecit gone means government can then spend and invest.

Mallotum_X

Things may take a while, depends on far too many factors to be sure. I would agree with your sentiments, this is going to take a while to work though.

One thing re your step son, if hes leaving school at 16, with a bunch of GCSE's then hes going to be up against lots of similar people for work, staying on until 18 and getting further qualifications will open more doors to him. Uni for many is now an expensive waste of time for many but being better qualified (but with useful/revelant skills) is going to make life easier whether we are in recession, recovery, or bumping along in a stagnant economy.

nickj_2

the economy may only recover when people wake up and smell the coffee , no govt has really got to grip with their borrowing , the only way they see to get out of the predicament is to borrow more money , how many bail outs have greece had , how many more will they get before people realise that they are throwing money to a lost cause , italy now is feeling the heat , portugal , spain ireland and probably the uk are staring in to the abyss
in theory with interest rates at a record low people should have more money in their pockets to spend . has that spare money been eaten away by the rising cost of living , when we did have growth was it not just fuelled by credit and now we're paying for it . this situation to decades to arrive and will probably take jsutas long to put right

OptionARMAGEDDON

5 years minimum to hit some form of stable bottom, then mega boom.

geoffky

The standard of living for the middle classes in the last decade will not be seen again in my lifetime unless we see another credit boom lasting ten years...i doubt it..

Phils_debt

Shortage of work around these parts lots of companies on short time ,with plenty of redundancies.
I think the uk is in recession and will be for quite a while

gailey_2

Its all so confusing.

bbc robert peston acts like its armageddon each day find the bbc very negative these days.
yet this afternoon they had another economist who said bank of england need to be more relaxed about inflation rate being way of low 2%target as it will fall next year unsure how he mentioned growth but unsure how that will happen only thing that may help is increased interest rates but they too scared to do that.

They went on about the squeezed middle even looking at how middle class in germany was struggling as we always think they affluent but now middle class working people going to soup kitchens.
Germany used to be small gap between rich and poor but the gaps widening like france, uk and us.

But even in uk theres been a rise in foodbanks for working people who struggling with rising living costs, low wages and wages being cut.

Only today best buy announced closure another 1100job losses.
hubby had meeting today further redundancies in management structure fortunatly his jobs safe.
His company forsee 2012 being tough year in retail non foods.
He advertised part time tempory 8hour job min wage and had 100applications in 2days!

Labours solution is to have huge public sector and pretend jobs that dont lead to real jobs.

need private sector.

but uk finance scaling back
no manufacturing
we mostly services and retail not great when people not got much money to spend.

Im clueless what will happen as everyone contradicts each other.

neither political party have all the answers.

europes a mess.

detest the way markets now dictate who should lead country rather than the electorate.

no one seems to trust one another.

step son not very academic not sure he will get gcses.
hoping he learns a trade or gets a job he can work his way up if such a thing exists these days.

pqrdef

Question isn't when the economy will recover, it's how.

What is the country now supposed to do to make a living? We're used to thinking the world owes us a living, but it's not automatic. We need to have something to sell. Like what?

I don't see this as an ordinary cycle. I think it's the beginning of a long decline.

Linton

pqrdef wrote: »

Question isn't when the economy will recover, it's how.

What is the country now supposed to do to make a living? We're used to thinking the world owes us a living, but it's not automatic. We need to have something to sell. Like what?

I don't see this as an ordinary cycle. I think it's the beginning of a long decline.

I think you are far too pessimistic. The UK continues to be a major exporter - bit from today's Torygraph on exports reaching a new record high.

Another interesting piece on the myth of Britains industrial decline.

It would be interesting to see some comparison figures for recent years - my guess for what its worth is that the current problems may have put us back say 5 years. But we were hardly struggling then.

CLAPTON

britain is the sixth largest (by value) manufacturing country in the world

Thrugelmir

CLAPTON wrote: »

britain is the sixth largest (by value) manufacturing country in the world

and more people are employed in the UK in the retail sector than manufacturing.