UK Back In Recession In Xmas Quarter-Are You Too Scared To Spend?

DecentLivingWage

Xmas quarter set to be dire for UK prospects says Bank Of England as voters,banks and markets lose confidence in Osborne and all clutch the purse strings tighter due to the fear of the coming unemployment rise - this is certainly true round here (thought I'd post what 's off my xmas list this year that I was thinking of buying/doing:)

Healthy Living Fryer,omelet maker,electric wok,xmas hotel visit to daughter on Boxing Day,pay deposit on summer holiday - all scrapped and off the list !

Anyone else doing similar as more and more people lose their jobs or worry about it?

http://www.telegraph.co.uk/finance/economics/9755064/Bank-of-England-warns-of-triple-dip.html

moneyinmypocket

I am looking forward to a good Xmas, all presents bought and paid for (no debt), 2 week holiday next summer paid for, plenty of money left over - its all about living within your means and planning

DecentLivingWage

moneyinmypocket wrote: »

I am looking forward to a good Xmas, all presents bought and paid for (no debt), 2 week holiday next summer paid for, plenty of money left over - its all about living within your means and planning

Lol, people can't live within their means if they have no 'means' - Many dads have ben laid off through no fault of their own, just the economy! Article says Tuition Fess and Jobless benefits bill have pushed up inflation.

MacMickster

DecentLivingWage wrote: »

Healthy Living Fryer,omelet maker,electric wok,xmas hotel visit to daughter on Boxing Day,pay deposit on summer holiday - all scrapped and off the list !

Don't forget the fondue set and the cuddly toy!

Christmas, for a long time, has been overly commercialised and about spending money on "things". Many of these "things" then find themselves languishing at the back of a cupboard for a year or two before ending up in the bin.

Income and living standards have been squeezed for some years now, and this is likely to continuefor many more. Surely its no surprise that hard pressed families are beginning to reign in their spending on "things" such as omelette makers and electric woks?

BertieUK

DecentLivingWage wrote: »

Lol, people can't live within their means if they have no 'means' - Many dads have ben laid off through no fault of their own, just the economy! Article says Tuition Fess and Jobless benefits bill have pushed up inflation.

We will be having to down-size in the Spring because being a Pensioner our incomings are less than out outgoings, and over the past two years the cost of living has not been kind to us. We have always been savers so we are lucky that way that we can live off our capital, but not for much longer.

This of course is experiences that Government Ministers will never occasion upon so therefore cannot be expected to understand how to plan a buget and survive. I would like the two Posh Boys to come and live with us for a couple of months to experience the real world, they would find that we can still force a real smile.

We will see our daughter for a few days over Christmas when she comes home from Uni' so we will be happy.

chris_m

MacMickster wrote: »

Don't forget the fondue set and the cuddly toy!

I was always waiting for someone to list the conveyor belt as well :rotfl::rotfl::rotfl:

DecentLivingWage

chris_m wrote: »

I was always waiting for someone to list the conveyor belt as well :rotfl::rotfl::rotfl:

Let's get back on track shall we? The Government Needs us to spend, to keep others in work and revenue receipts coming in to the treasury and create prosperity/growth ! Frightened broke voters dont spend - and they certainly won't vote Con! The more serious point is that if my lack of spending on presents for my kids is replicated and magnified millions of times and everyone stops spending... the economy will die! Triple Dip, loss of Triple A rating.

WISHIWASRICH_2

DecentLivingWage wrote: »

Anyone else doing similar as more and more people lose their jobs or worry about it?

I'm surrounded by folk trying to "do" austerity - most of them are clueless!

For example, my friend was telling me about the "cuts" she was making in her family budget while slapping chanel foundation on her face....on the way to putting the keys into her new unpaid for merc...

Rookie mistakes love Saving £5 on shopping and the gas bill really isn't going to sort it when there are much bigger elephants in the room....

Can people really stop living like they're footballers or their wives?

DecentLivingWage

Well, thanks for that - it seems some people are in for a shock when it's their job next - a big jump in unemployment is forecast,despite the Cons disguising the figures as 'Work Programme' etc This Xmas quarter will be dire -The Bank of England is warning our economy is “quite likely” to shrink in the last three months of this year, bringing the so-called misnamed recovery to an abrupt end,prediction is inflation will remain above 2pc “for the next year or so”.

shortchanged_2

There is still very little obvious evidence of any meaningful recovery on the horizon. The majority of peoples incomes continues to be squeezed. As has been already stated the jobless figures are a red herring.

It's looking more and more like a really slow, bumpy recovery that will take many, many years.

Mr._Pricklepants

DecentLivingWage wrote: »

Lol, people can't live within their means if they have no 'means' - Many dads have ben laid off through no fault of their own, just the economy!

Unemployment has been steadily declining since the start of the year, so if anything, I'd expect spending to be up on previous years.

But whatever the numbers will be - Happy Christmas to all!