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So Was That Is Then?

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So, judging by all of the media stories, political spokespersons, estate agents and mortage providers that have been extremely vocal in the last fortnight or so, the worst recession in the modern world since the great depression is coming to an end - and the recovery is here.

I for one am extremely glad by this, as so far I have experienced very little of it's effects (certainly directly, possibly indirectly) - work contracts are flowing equally to previous years, and i generally seem as 'wealthy' as ever and supermarket prices are no worse than normal.

I wonder why people took it so hard all of those years ago, to be honest.... recessions seem like a breeze! :rolleyes:

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I wonder why people took it so hard all of those years ago, to be honest.... recessions seem like a breeze! :rolleyes:

Yes. All those idiots in charge during previous recessions missed a trick.

All you have to do is print loads of money until the problem goes away. Maybe even print a bit extra to try and get yourself re-elected.

What could possibly go wrong?

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So, judging by all of the media stories, political spokespersons, estate agents and mortage providers that have been extremely vocal in the last fortnight or so, the worst recession in the modern world since the great depression is coming to an end - and the recovery is here.

I for one am extremely glad by this, as so far I have experienced very little of it's effects (certainly directly, possibly indirectly) - work contracts are flowing equally to previous years, and i generally seem as 'wealthy' as ever and supermarket prices are no worse than normal.

I wonder why people took it so hard all of those years ago, to be honest.... recessions seem like a breeze! :rolleyes:

It's a bummer isn't it. And to think of all the money I spent getting ready for this so-called 1930s style depression! I had to buy a big flat cap, hob nail boots , a shiny suit with a patched bum and WW1 medals, some Al Bowlly records and several hundred packets of Woodbines.

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So, judging by all of the media stories, political spokespersons, estate agents and mortage providers that have been extremely vocal in the last fortnight or so, the worst recession in the modern world since the great depression is coming to an end - and the recovery is here.

I for one am extremely glad by this, as so far I have experienced very little of it's effects (certainly directly, possibly indirectly) - work contracts are flowing equally to previous years, and i generally seem as 'wealthy' as ever and supermarket prices are no worse than normal.

I wonder why people took it so hard all of those years ago, to be honest.... recessions seem like a breeze! :rolleyes:

I would not take what these vested interests say as gospel.

Simply put, the imbalances in the economy that caused the problems have not be dealt with, as Alive and Kicking has frequently said the economy is on life support, in "disaster recovery mode" if you will.

The real question is what additional problems is the life support withholding for the future. IMO, without addressing the underlying issues in the economy (too much debt, too much wealth concentrated in too smaller a percentage of the world population), we are heading for an almighty train wreck.

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It's a bummer isn't it. And to think of all the money I spent getting ready for this so-called 1930s style depression! I had to buy a big flat cap, hob nail boots , a shiny suit with a patched bum and WW1 medals, some Al Bowlly records and several hundred packets of Woodbines.

:lol:

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I would not take what these vested interests say as gospel.

Simply put, the imbalances in the economy that caused the problems have not be dealt with, as Alive and Kicking has frequently said the economy is on life support, in "disaster recovery mode" if you will.

The real question is what additional problems is the life support withholding for the future. IMO, without addressing the underlying issues in the economy (too much debt, too much wealth concentrated in too smaller a percentage of the world population), we are heading for an almighty train wreck.

The UKs debt position is nstill a major concern. There has been a quick fix of more cash into the system but repayment day...tax cuts and reduced government spending looms quick....or hyperinfaltion.

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So, judging by all of the media stories, political spokespersons, estate agents and mortage providers that have been extremely vocal in the last fortnight or so, the worst recession in the modern world since the great depression is coming to an end - and the recovery is here.

I for one am extremely glad by this, as so far I have experienced very little of it's effects (certainly directly, possibly indirectly) - work contracts are flowing equally to previous years, and i generally seem as 'wealthy' as ever and supermarket prices are no worse than normal.

I wonder why people took it so hard all of those years ago, to be honest.... recessions seem like a breeze! :rolleyes:

I think it's a bit like in the book of Jurassic Park. About half way through they think they've saved the day, but they don't realise that the park's running on batteries and that all the raptors are out.

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Summer bargain

TINS OF TESCOS ECONOMY BEANS

10P A TIN

4,000 AVAILABLE :(

Edit for spewling

Edited by Bosh

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This recession is pretty different to anything else seen. In the 20's / 30's Bank's were allowed to fail ( 9000 of them) and there was a proper crash, investment dried up and certain industries ground to a complete halt. That seems to have been avoided by propping up the banks this time around.

The debt still remains though and repaying it will choke any real growth for quite some considerable time to come a decade or more prehaps?. Ironically I think the Banks will do pretty well in the long term as this highly profitable debt is repaid.

I think we are in uncharted territory though and things can change unexpectedly.

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Summer bargain

TINS OF TESCOS ECONOMY BEANS

10P A TIN

4,000 AVAILABLE :(

Edit for spewling

4000 beans in a tin....cant say ive ever counted them

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4000 beans in a tin....cant say ive ever counted them

It`s boring in this bunker, what else was I supposed to do :angry:

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It`s boring in this bunker, what else was I supposed to do :angry:

sorry, didnt mean to disturb....damn, where was I? doh....1..2..3

In other news, Air France offering day trips to the Titanic....

Ill get my coat.

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It's a bummer isn't it. And to think of all the money I spent getting ready for this so-called 1930s style depression! I had to buy a big flat cap, hob nail boots , a shiny suit with a patched bum and WW1 medals, some Al Bowlly records and several hundred packets of Woodbines.

I'm glad that eveyone got the obvious sarcasm (to think i really doubted you guys ;) ), but it does seem like at the moment as long as everything is ok this minute that all is saved. I'm honestly shocked by the way things are. Two friends have both bought a bigger house because once the recession is over then they will be ok as there will be more work around!!!! :blink:

I'm more and more convinced everyday that this cant all be real.... I guess, i'd better go and enjoy some scenery while I can, before there are more pressing things to worry about.

/rant /tinfoilhatyness.

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Having lived through previous reccessions this one has one major difference - Interest rates.

I have posted on here before that the previous recessions had high interest rates and anybody made unemployed, felt the pain immediately but also those in work felt the pain as well. My boss at the time after paying his mortage, which was one of these famous 3.5x salary ones (that everbody on here thinks are safe) had 20GBP left in his pay packet after paying the bills and the mortage. This is why retail sales absolutley tanked.

This time if you are in work, even if you have a fixed rate mortgage you are not feeling much pain. Hence the very slight drop in retail sales.

Do not underestimate how worried people were with mortage bills eating all of their salary.

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Guest Skinty
It`s boring in this bunker, what else was I supposed to do :angry:

Dutch ovens?

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OK, first post after reading this forum for over 2 years :blink:

I too am amazed by the the general consensus that all is now rosey again. People are starting to look at me with a that strange confused look again when I remind them that things really cant be back to normal considering the current economic backdrop. I've spent 9 years of being bearish with regards to the economy and house prices and have been enjoying NOT having that look in the last 12 months. But its back again and I have lost my faith that anyone has any sense any more!

Anecdotally:

  • I have 4 friends who are architects, 1 is redundant, 1 is on sabatical, 1 is down to 3 days a week and 1 is working for a small firm on the cusp of collapse
  • I run my own business (new media) and sales are down approx 20%
  • Our office block (50 small offices) has a noticable number of empty offices for the first time in 10 years
  • Most of my friends (not me) are up to their neck in debt - all in the 30-35 age bracket, lots with IO mortgages, at the minute they feel richer than ever but if IR went up to 3-4 % half of them would be screwed!
  • My dad sold his house after 18 months on the market (Macclesfield) 40% below the peak asking price
  • A friend has had his place on the market (Morden, London-ish) for 2 years and its reduced from 480K to 320K (incidentally, he had a firm offer which they accepted recently for 310K and have been desperate to move out but what are they doing? They have decided to pull out because prices are now GOING BACK UP) - oh lord we have no hope (2 years of reductions and much heartache - tears, stress - and they still haven't learnt!)

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I'm glad that eveyone got the obvious sarcasm (to think i really doubted you guys ;) ), but it does seem like at the moment as long as everything is ok this minute that all is saved. I'm honestly shocked by the way things are. Two friends have both bought a bigger house because once the recession is over then they will be ok as there will be more work around!!!! :blink:

I'm more and more convinced everyday that this cant all be real.... I guess, i'd better go and enjoy some scenery while I can, before there are more pressing things to worry about.

/rant /tinfoilhatyness.

Just been to a playgroup where a friend said "Don;t you think you should buy a house now. All the news reports have said house prices are going up". :lol:

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Just been to a playgroup where a friend said "Don;t you think you should buy a house now. All the news reports have said house prices are going up". :lol:

Being three years old I expect this is their first recession!

Edited by Cogs

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A 30 year debt bubble will take years to unwind. The current downturn started way back in 2007, QE might delay the day of reckoning, but there is much more pain to come. What I am noticing is that despite QE, money is becoming harder to get hold of, and that will kill off any green shoots.

The pigmen are holding up global stock markets, but they can't defy gravity forever. This Autumn will be interesting.

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It's a bummer isn't it. And to think of all the money I spent getting ready for this so-called 1930s style depression! I had to buy a big flat cap, hob nail boots , a shiny suit with a patched bum and WW1 medals, some Al Bowlly records and several hundred packets of Woodbines.

I'll trade you a 54" plasma and a fake Rolex for the cap and the Woodbines. You're walking into a bull trap!

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