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Realistbear

" A Hard Landing Predicted For Parts Of The Economy"

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http://www.creditcontrol.co.uk/news/2007/06/01210.htm

A hard landing predicted for parts of the economy
08/06/2007
Credit solutions provider Coface is predicting a major downturn in some sectors of the economy, with businesses dependent on consumer spending facing difficult market conditions over Christmas and into 2008...../
"Wage inflation within the UK has been held back by the
‘Central European effect’
with the job market boosted by overseas entrants, but UK consumers have continued to spend on cheap credit and accumulated savings.
"Interest rate rises and a
slowing housing market
will inevitably tighten bank lending with a potentially damaging effect on UK business most directly exposed to consumer spending.

Gordon's mass immigration policy may have worked with regard to keeping wages below the rate of inflation but his miraculous house prices are not being regarded as sustainable. He has succeeded in screwing over both the workers and the sheeple who bought houses/BTLs during the "miracle years."

Edited by Realistbear

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As we all know credit will play a very important role in this downturn.

If there is less about then we're gonna see things going south.

"Interest rate rises and a slowing housing market will inevitably tighten bank lending with a potentially damaging effect on UK business most directly exposed to consumer spending.'

I like the use of the word inevitably.

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http://www.creditcontrol.co.uk/news/2007/06/01210.htm

008...../

"Wage inflation within the UK has been held back by the ‘Central European effect’ with the job market boosted by overseas entrants, but UK consumers have continued to spend on cheap credit and accumulated savings.

...WHAT ACCUMULATED SAVINGS???

debt-based consumpion is about 115% of GDP!!!....in lay-mans terms,we're spending what we haven't got!!!

the average numpty in the street has a RECORD debt-level.

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Building trades ? Boom:

Bust:

most of the trades are taking the piss with their daily rates atm, bout time they came back down to earth :rolleyes:

Its already started. Spoke to someone yesterday who reliabley informed me that Taylor Woodrow have stopped giving out completion bonuses to their site managers. I can remember this happening last time around when i was an apprentice. Next step is the lads on the tools taking a hit.

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