'Why I confidently predict this recession won't be as 'severe' as the last' blog

Former_MSE_Helen

This is the discussion to link on the back of Martin's blog. Please read the blog first, as this discussion follows it.

Read Martin's "Why I confidently predict this recession won't be as 'severe' as the last" Blog.

Please click 'post reply' to discuss below.

jamesd

It's perhaps likely that 2008 was a private sector worker recession and 2012 will be a public sector worker one, based on job losses and strife as the public sector catches up with some of what has already happened in the private sector.

You might consider adding a link to the article about recession-proofing your finances.

Arthurian

"Yet even in a recession you can’t draw too many conclusions on what it means for individuals. I’ve corrected a good few interviewers in recent times who’ve asked me: "everyone is struggling, what should we do?"

Of course ‘everyone’ isn’t struggling, there are still many with good jobs, getting pay rises, with savings, no debts, and possibly low rate tracker mortgages. You only need to see this How much are you worth? 2012 poll result to see that."

Capital is not necessarily convertible into income. Those with savings don't necessarily have "good jobs," "pay rises" or "low rate tracker mortgages." I feel this needs to emphasised as Martin's blog seems to me to gloss over the pensioner's case.

MSE_Martin

Arthurian wrote: »

"Yet even in a recession you can’t draw too many conclusions on what it means for individuals. I’ve corrected a good few interviewers in recent times who’ve asked me: "everyone is struggling, what should we do?"

Of course ‘everyone’ isn’t struggling, there are still many with good jobs, getting pay rises, with savings, no debts, and possibly low rate tracker mortgages. You only need to see this How much are you worth? 2012 poll result to see that."

Capital is not necessarily convertible into income. Those with savings don't necessarily have "good jobs," "pay rises" or "low rate tracker mortgages." I feel this needs to emphasised as Martin's blog seems to me to gloss over the pensioner's case.

You are quite right. The link to the poll was meant to be one bit of evidence of its not terrible for everyone. It wasnt meant to prove the prior sentence.