Credit Crunch

[Macky]

I class myself as lucky at the moment to be honest. I have no money, I have just secured a 10 month contract and at the end of those 10 months I shall leave the credit crunch behind and go travelling for about 12 months.

Hopefully by the time I return to the shit life it will have returned to some form of normality.

Sounds good lako.
Where exactly are you planning on travelling to escape the global credit crunch? Can I come too?

 

[newtonfox]

Sounds good lako.
Where exactly are you planning on travelling to escape the global credit crunch? Can I come too?

Mars

 

[Brown Nose]

Work for the government - may not be good in the good days but great in the bad days.

Too true. I'm in the unemployment business. It's been shocking over recent years, we've had massive cutbacks and lost 30,000+ staff.

Now that the 'global downturn' has hit (the phrase we've been instructed to use instead of recession), all the top bosses are shitting it cos we've got nobody left to cope with increasing unemployment.

I've been monitoring the stats on job losses and reducing vacancies recently. Since the beginning of July, it's got horrific out there. There's nothing but pain and misery ahead for a lot of people. And there's nowhere near enough of an infrastructure in place to support the jobless properly either.

Bad time ahead. My advice is to get yourself into as safe as position as possible, and hang on in there. This one's going to last a while.

 

[newtonfox]

Too true. I'm in the unemployment business. It's been shocking over recent years, we've had massive cutbacks and lost 30,000+ staff.

Now that the 'global downturn' has hit (the phrase we've been instructed to use instead of recession), all the top bosses are shitting it cos we've got nobody left to cope with increasing unemployment.

I've been monitoring the stats on job losses and reducing vacancies recently. Since the beginning of July, it's got horrific out there. There's nothing but pain and misery ahead for a lot of people. And there's nowhere near enough of an infrastructure in place to support the jobless properly either.

Bad time ahead. My advice is to get yourself into as safe as position as possible, and hang on in there. This one's going to last a while.

Not good.

 

[spionfox]

I've still to hear back from Domino Pizzas about that driving job so who knows..

Good luck HF :icon_lol:

 

[highland fox]

Good luck HF :icon_lol:

I think I'd fail seeing as I can't drive

 

[Durham Fox]

The current situation is a total twat and it's seriously ****ing me off.

 

[highland fox]

The current situation is a total twat and it's seriously ****ing me off.

Had to eat at home tonight then Duzza ?

 

[Durham Fox]

Had to eat at home tonight then Duzza ?

:icon_lol:

Seriously though it's ****ing rubbish

 

[highland fox]

:icon_lol:

Seriously though it's ****ing rubbish

It is.....it must be even me and you are agreeing on it.

 

[Boy Genius]

It is.....it must be even me and you are agreeing on it.

or he didn't get his end away this weekend......

 

[Durham Fox]

or he didn't get his end away this weekend......

This morning actually

 

[Boy Genius]

This morning actually

don't tell HF, he will be asking you how it felt.

 

[Lboro fox]

a lot of builders are self-employed, so don't appear on the unemployment stats

A rather handy truth for the government to keep the unemployment figures down!

Am obviously nervous as i work in the construction industry and people are being laid off all over the place, architects in particular appear to be struggling at the mo. Though bizarrely we are totally run off our feet at the minute, which defies logic really!

Thankfully i didnt buy a new house last year and my northern rock mortgage is fixed till dec 2010 which should see me through. My unused house deposit means i can survive for 18 months on minimum wage should the worst happen.

More nervous than anything.

 

[Darth Vodka]

"Credit Crunch", my arse.

RECESSION is the ****ing word, but they've even managed to glorify it with a different name.

you need the GDP to fall in consecutive quarters to have a recession

 

[Melton Fox]

you need the GDP to fall in consecutive quarters to have a recession

I thought it was (x) time without growth, not falling.

 

[FIF]

I'd have thought falling for recession, not growing for stagnation

 

[spionfox]

I'd have thought falling for recession, not growing for stagnation

If the economy were 'growing' we wouldn't be having this discussion

 

[Darth Vodka]

I thought it was (x) time without growth, not falling.

http://en.wikipedia.org/wiki/Recession

seems fairly vague, but i would argue that everybody would call it a recession once the GDP falls for two quarters

 

[Melton Fox]

http://en.wikipedia.org/wiki/Recession

seems fairly vague, but i would argue that everybody would call it a recession once the GDP falls for two quarters

Yep, already read it and I now agree with you.

However, when you look at the symptoms of a recession, you could say we're already experiencing them.