Monday, February 4, 2008

The Debt Based Economy Starts Buckling

Fears of 100,000 job losses in retail sector

The expected cull - equivalent to one in 30 shop jobs in the UK - far outstrips any previous prediction and underlines just how difficult the coming 24 months are expected to be on the high street.

Posted by quiet guy @ 02:39 AM (1152 views)
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13 thoughts on “The Debt Based Economy Starts Buckling

  • QUICK CUT RATES!

    (cheap money solves everything)

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  • But there won’t be a house price crash? The fundamentals ars sound, there is full employment?

    Or is this a scare story, cooked up to try & wangle a cut in interest rates…when they should actually should be going up, well if we didn’t live in such a nanny state!

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  • ……the rise in the cost of living under labour is absolutely MASSIVE

    bring back JM….voting in labour was the WORST days work this country has ever, ever done.

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  • David Smith's Sub Prime. . . says:

    Well I say that (in my esteemed opinion as Economist Laureate):

    1. There is no Sub Prime.
    2. There is no house price fall.
    3. There will be no crash.
    4. There is no inflation.
    5. There are no stealth taxes.
    6. There will be no unemployment.
    7. The bank of England is not printing money at the moment.

    I haven’t spoken to Rupert yet to see what his view is or to ask him to check my work…

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  • £8000 worse off are most average families with two children…

    I can’t wait for my 40/60ths public sector pension…

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  • @hpwatcher

    I don’t think this is a scare story. In my 2 local towns, I’ve noticed quite a few boarded up shops with “to let” signs appearing. The highs street is starting to look like a ghost town in some areas.

    But companies are still building big out of town retail parks. Where are all the shoppers going to come from?

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  • hpw – I agree, JM only did it to Edwina, Blair and Brown have done to the UK!

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  • Expecta lot more of the same from the retail and housing sector, bleating for more and more cuts, as they have developed their entire business model based on easy money and high debt. They should look again at why people spend. The tide is changing and those retailers tied into models based on Crash Gordons last ten years of ‘no boom or bust’ will suffer. Cutting interest rates will not make people spend on luxuries, they will be too busy trying to budget for higher fuel, food, electricity bills through massive imported inflation as the pound is sacrificed on the altar of Crash’s miracle economy.

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  • Although a lot of them are going to be spotty 16 year old saturday jobbers, this is gonna hurt.

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  • Sold My Soul To The Never Never Never says:

    Perhaps we are all bored with buying the cheap tat that comes from overseas anyway and our houses are so full of the stuff that we can give consumerism a holiday.

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  • No cutting RATES, this is called “natural selection”. Be happy. When people or governments interfere in markets, the market will always find a way. If this means job losses, it means the factors making this market were sinply inefficient. Change is coming! For the Better!!

    New Labour was the last of this control society, soon it will be pure free market. And for sockbrokers (betting office/desk jockey’s) there time is up too.

    Be POSITIVE – CHANGE IS GOOD!!!

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  • I’ll not shed a tear over a few Tescos getting shut down.

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  • Yep, bring it on. Society is SICK. The UK is rapidly going down the toilet and it’s time the chavs and their twin gods of celebrity and shopping were kicked into touch. Can’t we do something a bit more constructive with our time?

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