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

grizzly1911

GeorgeHowell wrote: »

Nevertheless we now live in a society where government policy is geared in various ways in favour of people like that, at the expense of those who exercise restraint, sensible financial management, and self reliance.

Probably consumption on relatively pointless objects, purposefully marketed as such with constant upgrades, to extract money for money sake, makes it easier for them to keep the plates spinning.

Happily taking 20% each time, probably more than the retailer and manufacturer make, not necessarily the designer.

The fact that people get into debt is a side issue.

homelessskilledworker

GeorgeHowell wrote: »

Unfortunately for a lot of people these days material acquisitiveness and the perceived status that it affords to them and their immediate family are the only things that give their lives meaning and purpose. When that is coupled with the type of personality that struggles to deny itself anything that it wants when it wants it, plus inability or unwillingness to manage domestic finances adequately then you get this personal debt build up. Nevertheless we now live in a society where government policy is geared in various ways in favour of people like that, at the expense of those who exercise restraint, sensible financial management, and self reliance.

And the most expensive of these acquistions by far is PROPERTY.

moneyinmypocket

Property goes up over the long term so it's a different type of purchase to your everyday high street buy.

DecentLivingWage

Christmas shopping retail sales have stalled says International Business Times - people will leave the outlay to the last minute and their average spend on Christmas items will be much lower - the January quarter must be looking dire!

Mr._Pricklepants

DecentLivingWage wrote: »

Xmas quarter set to be dire ... all clutch the purse strings tighter due to the fear of the coming unemployment rise

homelessskilledworker wrote: »

there is a lot of REAL pain going on right now regardless of how "postive" people try to make themselves feel

Back in the REAL world:

http://metro.co.uk/2012/12/26/boxing-day-bargain-hunters-set-to-splash-out-3bn-in-sales-bonanza-3329616/

Bargain hunters sent Boxing Day retail records tumbling in a £3billion post-Christmas sales bonanza.

Flagship store Selfridges in Oxford Street reported its most successful first hour of trade ever with £1.5million rattling through the tills.

Messrs. Shorty, Devon, Desperate Prof and Foxy left scratching their heads as this doesn't fit their doom & gloom mantra

Good times.

Thrugelmir

moneyinmypocket wrote: »

Property goes up over the long term so it's a different type of purchase to your everyday high street buy.

That's what people wish to believe........... A fail safe "investment".

Who are they going to seek compensation from when the oasis in the distance turns out to be a mirage?

MacMickster

moneyinmypocket wrote: »

Property goes up over the long term so it's a different type of purchase to your everyday high street buy.

This is what people always used to say about the stock market. Investing in a broad range of stocks and shares was seen as a no brainer long-term investment. Then the world changed.

The Japanese stock market crashed from its peak in 1989, and has still not recovered. The Japanese housing market crashed within a few years.

In the UK the FTSE peaked in 2000. The house price bubble began to deflate in 2007, and I suspect will continue for at least a decade to come.

GeorgeHowell

MacMickster wrote: »

This is what people always used to say about the stock market. Investing in a broad range of stocks and shares was seen as a no brainer long-term investment. Then the world changed.

The Japanese stock market crashed from its peak in 1989, and has still not recovered. The Japanese housing market crashed within a few years.

In the UK the FTSE peaked in 2000. The house price bubble began to deflate in 2007, and I suspect will continue for at least a decade to come.

That's all absolutely true. There is no longer any highly reliable, low risk form of inflation matching/beating investment available to mere mortals.

I think the point is that spending on consumer rubbish, sorry goods, is a different kettle of fish from spending on property, though often the same acquisitiveness and quest for status drives it.

DecentLivingWage

Southend on sea saw biggest rise - TOWIE?

Thrugelmir

MacMickster wrote: »

The Japanese stock market crashed from its peak in 1989, and has still not recovered.

Given the incestuous nature of equity holdings . Hardly surprising.