Will there be a recession??

dave1223

Will there be a recession. All i keep hearing is that there is one on the way?

Or is this just nonsense?

dunstonh

There is potential for recession. No-one knows if there will be one or not. At the moment it appears to be slowdown but a combination of events could tip it into recession.

Media coverage is sensationalist recently. If you believe everything your read or hear you would think that stockmarket has melted down, banks are going under and everyone is losing money.

Indout96

It depends on your perception of recession. I look at is as how much what I have can buy and it looks bleak.
As inflation is running at around 10-15% if you take into account all the items the gov took out of the basket because it looked bad and factor in pay rises of 2-3% then we are already in one and have been for a while.
I dont give a monkeys what the media says but I do know that it now costs me far more every month for the things I buy.

dave1223

yes true but will it get desperate ?

dunstonh

dave1223 wrote: »

yes true but will it get desperate ?

You mean worse than WWII, the country going nearly bankrupt in the 70s or that you may not be able to afford the top package on sky or maybe have one less takeaway a month?

dave1223

Sorry what do you mean. Is it not going to be drastic then?

What happened in the 70's?

I can cope with 1 less takeaway lol

mikewebs

Unless a lid is put on the fuel situation we are all in for bleak times. Personal transport unaffordable, shopping unaffordable because retailers have been forced to shove the huge increases in fuel costs onto our groceries. House prices falling, people locked into properties because they can't afford to move therefore causing stagnation of the market. Builders will be looking to reduce their costs - laying off construction staff. People without jobs can't buy much. Spiral into recession speeds up.
I would say yes we are in for bleak times as it stands.

dave1223

How soon are we talking.. does this have anything to do with all the foreigners coming into this country and sucking us dry?

What will happen in the worst situation will it be like WW2 or something?

I don't like the sound of this ...would leaving the country be a good idea?

Depends where you live but all i see these days is ethnics everywhere and it can't be good for a small country like us. IMO there are too many people living in this country its too full up.

Steve1981

dunstonh wrote: »

You mean worse than WWII, the country going nearly bankrupt in the 70s or that you may not be able to afford the top package on sky or maybe have one less takeaway a month?

now that made me laugh.:D

it 'could' turn into a bad situation, as has been mentioned fuel could be the kicker, prices are predicted to increase to $200 a barrell within 2 years, that would make almost any everyday travel too expensive. this will knock on to all shopping (though online shopping may become more important). the current situation with banks and house prices might well get worse before it gets better so high interest bank accounts and 0% lending will become more important, for those that can. on the otherside you might next 6 numbers on saturday night.

I think we are a way off using £5 notes as toilet paper as they are worth less and not being able to afford to import bananas.

the lack of current faith in Gordon Brown could cause political unrest, and in wonder what effect the presidential situation could cause on world politics if a member of an ethnic group gets the white house.

doom and gloom gets you no where at this stage its a matter of if not a matter of when, so dont sell up and move to Spain just yet;)