Monday, Dec 29, 2008
Even though homeowners have been helped by steep interest rate cuts, a total of 77% think they will
Guardian: Nine out of 10 shoppers plan to cut spending in new year
Britain is preparing for a bleak new year of spending cutbacks, job insecurity and prolonged recession, according to a Guardian/ICM poll published today. It shows consumer confidence has dropped sharply in the last month as the reality of the economic downturn hits home.
The poll, carried out just before Christmas, finds near universal gloom about Britain's economic prospects: 86% say they plan to make cutbacks and live more cheaply in 2009 — only 13% expect to spend as much as they did last year.
Posted by troy @ 12:25 PM (593 views) Add Comment
7 Comments
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1. shipbuilder said...
Good. We should all be spending less, paying less tax and paying more for the stuff we do buy. It's about time we all started asking questions about our ridiculous consumption-driven economy and the hypocrisy at the heart of the message from the establishment - spend, spend, spend but it's your fault if you get into trouble because you should have saved.
2. plato said...
Not surprising......... and add to this 10% that do spend will be far more careful and selective. The other 90% will be certain to spend on the necessities of life before they even consider luxuries that enjoy fashion and status. In many cases hardly even affording these necessities that provide health and protection.
3. micasasucasa said...
I could be wrong, but I thought 2007 was an abnormally high year of retail spending (think it was on the ONS website). If the retail figures for Christmas come in and are substantially better than '06, it will still be painted as the 'end of the world'.
4. shipbuilder said...
3. micasasucasa said...
"I could be wrong, but I thought 2007 was an abnormally high year of retail spending (think it was on the ONS website). If the retail figures for Christmas come in and are substantially better than '06, it will still be painted as the 'end of the world'."
Such is the insane nature of our economic system, is that it WILL be the end of the world. Expansion must happen year-on-year, or we all suffer.
Does it have to be like that? Why has this become an unquestionable 'given'?
5. crunchy said...
4. shipbuilder said...
Such is the insane nature of our economic system, is that it WILL be the end of the world. Expansion must happen year-on-year, or we all suffer. Does it have to be like that? Why has this become an unquestionable 'given'
Crunchy...Because it is easy money for the chosen few and a great enslavement system. Welcome to the cashless system.
The next phase we will be begging for.
6. Crunchy said...
Vultures fight over the decaying bones of the prey, after the lions share. The lazy lion always gets the lioness to do the dirty work.
The prey must always be within striking distance and plentiful, no matter what. It is the prey that keeps the system alive.
For as long as the grass grows and waters run the system will remain.
7. beartil2010 said...
I would suggest the 13% who are 'planning on spending the same' would be the 13% who weren't overspending in the first place.
And they'll find maintaining that level hard as prices will go down so buying the same stuff will actually put less money into the economy.
There will only be a tiny minority, if anyone, who will spend more. And that's probably only people who inherit some cash or people who get their first jobs who only had pocket money before (if they're lucky enough to get that job cleaning the floor somewhere).