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Recession Looming?

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Guest Winners and Losers

Cab driver and I got talking about house prices. He says 'if you think there is going to be a recession, just ask us cabbies' - so I did. He said yes, there is. Should we be looking at the coalface for the real story?

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I would think one of the first things people cut back on is cabs. I know if money was tight I would ride the bus.

I see a deep recession too.

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Cab driver and I got talking about house prices. He says 'if you think there is going to be a recession, just ask us cabbies' - so I did. He said yes, there is. Should we be looking at the coalface for the real story?

Was chatting to a woman at the weekend who is doing moderately well for herself at Tesco. Without any prompting from me she started talking about how we're in a recession more-or-less, and that people are spending more at supermarkets rather than going out. Their "pukka" range or whatever it is called is doing quite well, apparently.

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Guest Winners and Losers

My Uncle John says so too. He's not a cabbie but does own a car.

Sorry, I should have asked him for a 'graph'. What would a cabbie know eh? Perhaps you could enlighten us on the merits of inverted snobbery? If we are not beneath you that is? Cabbie = coal face.

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Cab driver and I got talking about house prices. He says 'if you think there is going to be a recession, just ask us cabbies' - so I did. He said yes, there is. Should we be looking at the coalface for the real story?

I reckon cabbies are good people to ask I can imagine they'll of had a few shop/business owners/managers in their cab telling all after a night drowning sorrows has loosened their tongues.

Edited by mustrum_ridcully

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You can look down your nose at cabbies, but still realise they represent an important indicator of disposable income levels. God bless em. And so coy about it too. I personally can't believe anyone would throw cash at taking a black cab in London, but then i'm a wide eyed country boy - and tight with it.

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cost of a cab is a unbelievable price now, not all there fault, like everything else they now have much more competition but whereas competition shows cheaper prices elsewhere it dont in a fixed rate buisness it just reduces there take.

i dont know anyone thats made money since xmas in any buisness.everyone is hurting

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your unlikely to get raped in a black cab. look how many rapes there are by cheaper unlicienced cabs.

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I reckon cabbies are good people to ask I can imagine they'll of had a few shop/business owners/managers in their cab telling all after a night drowning sorrows has loosened their tongues.

Not only that, some of them were shop/business owners themselves.

About a year ago I took a 'cab and during the convo he revealed that he used to have four shops. He couldn't make any money at it, so gave up and took up 'cab driving.

NDL

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Might I add that this cab driver was VERY chatty, so I am sure he has had discussions with a wide range of people. He also had a good history in the property market and rode out the last crash. Don't assume that because you don't have an MBA and a degree in quantam physics that you can't find other signs that point towards a downturn. At least these are real stories from real people and not just VI spin.

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The other people to ask are Rubbish men.

Yep that's right.

Because the see our rubbish, they actually know what people are buying.

So if you want some share tips for companies selling household items, or if you want to know if people are buying less, ask a rubbish man ;)

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The other people to ask are Rubbish men.

Yep that's right.

Because the see our rubbish, they actually know what people are buying.

So if you want some share tips for companies selling household items, or if you want to know if people are buying less, ask a rubbish man ;)

Uncle John says so too. He is not a rubbish man, but he does have rubbish. :P

Another good one would be removalists.

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everyone knows this on this site, because were so clever. but, look at chocolate, ciggarettes and booze. these "comfort" items increase in consumption in bad times.

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How about asking a top rated fund manager?

He said that cyclical stocks, such as those in building and engineering companies, manufacturers, industrial chemical suppliers and steel makers, currently carry the most risk as the slowdown begins.

Cyclical sectors typically perform well when the economy is on an upwards turn, but are first to catch a cold when the economy emabrks on a downwards cycle.

http://www.thisismoney.co.uk/investing-and...20&in_page_id=3

Edited by BandWagon

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Why don't you ask our very our 'cabbie', CABMAN, is his username........

Ahh, but then again he was on here a week or so ago, suggesting that there was no downturn, that prices weren't dropping and perhaps we had it all wrong ........ end result he was verbally abused and castigated, probably never to return again.

The trouble is you only believe what you want to hear !!! and you try and assassinate dissenters. It doesn't make for constructive debate you know.

:D

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The trouble is you only believe what you want to hear !!! and you try and assassinate dissenters. It doesn't make for constructive debate you know.

:D

Nice that you tarnish everyone with the same brush! :rolleyes:

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I was talking to the manager of a large pub in Kent last week - one of those family orientated ones. Anyway, I started my now usual spiel about how tough business is and how I thought we were heading for recession. No crap from him, he came right out and said it, "we're in one now mate". No spinning, no BS.

For what it's worth I agree. Retailers are gettng slaughtered, car dealerships can't shift a thing, unemployment's up, bankruptcies and insolvencies up.

We are in a recession NOW!

......and I couldn't care less what people here say or what these nobody economists say. My eyes and ears are far better indicators.

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Why don't you ask our very our 'cabbie', CABMAN, is his username........

Ahh, but then again he was on here a week or so ago, suggesting that there was no downturn, that prices weren't dropping and perhaps we had it all wrong ........ end result he was verbally abused and castigated, probably never to return again.

The trouble is you only believe what you want to hear !!! and you try and assassinate dissenters. It doesn't make for constructive debate you know.

:D

So I am no different to everyone else out there then, including you big kahoona's. :P

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Sorry, I should have asked him for a 'graph'. What would a cabbie know eh? Perhaps you could enlighten us on the merits of inverted snobbery? If we are not beneath you that is? Cabbie = coal face.

Oops - came across all wrong I'm afraid Winners. Didn't mean to sound sarcastic. Actually what I meant to say was Yes your point is very good. I'm self-employed like your cabby and can categorically agree!

By 'Uncle John' I merely wanted to get across that I'd had the same point of view from someone I know (uncle John) and he'd said the same thing. The 'he's got a car' wasn't meant to offend, although I can see how it sounded.

I'm no inverted snob either.

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Oops - came across all wrong I'm afraid Winners. Didn't mean to sound sarcastic. Actually what I meant to say was Yes your point is very good. I'm self-employed like your cabby and can categorically agree!

By 'Uncle John' I merely wanted to get across that I'd had the same point of view from someone I know (uncle John) and he'd said the same thing. The 'he's got a car' wasn't meant to offend, although I can see how it sounded.

I'm no inverted snob either.

Oops from me too! Easily done, I'm just used to getting a bit of a slating now and again. It's OK though, I give as good as I get! You are on a roll tonight I must say! Are you on something? ;)

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I was talking to the manager of a large pub in Kent last week - one of those family orientated ones. Anyway, I started my now usual spiel about how tough business is and how I thought we were heading for recession. No crap from him, he came right out and said it, "we're in one now mate". No spinning, no BS.

For what it's worth I agree. Retailers are gettng slaughtered, car dealerships can't shift a thing, unemployment's up, bankruptcies and insolvencies up.

We are in a recession NOW!

......and I couldn't care less what people here say or what these nobody economists say. My eyes and ears are far better indicators.

Goverment will never admit it. Gordon wants the number 10 spot. He'll paint a rosy picture while millions of British families' standard of living erodes.

150K for a one bedroom flat in Walthamstow - over a donner kebab shop as well. I know the person who bought it. 5 years ago this was vacant. The seller laughed all the way to the bank.

What have we done to our younger generation?

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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