So just how bad is it?
Jan 28th 2009, 5:57 pm
#1
Powered by cows
Thread Starter
Joined: Jul 2004
Location: currently Dubai, ex UK
Posts: 4,582
So just how bad is it?
Not good at all....
Britain's economy will be the hardest hit in the developed world in what is expected to be the "deepest recession since the second world war," the International Monetary Fund said today...
... Also today, a United Nations agency warned that more than 50 million jobs could disappear around the world this year. As the global economy battles its worst downturn since the Great Depression, the International Labour Organisation (ILO) said its worst case scenario would see 51 million more jobs lost by the end of this year, taking the global unemployment rate to 7.1% from 6% last year.
http://www.guardian.co.uk/business/2...oyment-to-soar
Britain's economy will be the hardest hit in the developed world in what is expected to be the "deepest recession since the second world war," the International Monetary Fund said today...
... Also today, a United Nations agency warned that more than 50 million jobs could disappear around the world this year. As the global economy battles its worst downturn since the Great Depression, the International Labour Organisation (ILO) said its worst case scenario would see 51 million more jobs lost by the end of this year, taking the global unemployment rate to 7.1% from 6% last year.
http://www.guardian.co.uk/business/2...oyment-to-soar
Jan 28th 2009, 6:16 pm
#2
Lost in BE Cyberspace
Joined: Jan 2007
Location: By the old canal...
Posts: 7,715
Re: So just how bad is it?
Not good at all....
Britain's economy will be the hardest hit in the developed world in what is expected to be the "deepest recession since the second world war," the International Monetary Fund said today...
... Also today, a United Nations agency warned that more than 50 million jobs could disappear around the world this year. As the global economy battles its worst downturn since the Great Depression, the International Labour Organisation (ILO) said its worst case scenario would see 51 million more jobs lost by the end of this year, taking the global unemployment rate to 7.1% from 6% last year.
http://www.guardian.co.uk/business/2...oyment-to-soar
Britain's economy will be the hardest hit in the developed world in what is expected to be the "deepest recession since the second world war," the International Monetary Fund said today...
... Also today, a United Nations agency warned that more than 50 million jobs could disappear around the world this year. As the global economy battles its worst downturn since the Great Depression, the International Labour Organisation (ILO) said its worst case scenario would see 51 million more jobs lost by the end of this year, taking the global unemployment rate to 7.1% from 6% last year.
http://www.guardian.co.uk/business/2...oyment-to-soar
But, hey, the supermarkets and Sky are both reporting healthy profits and new jobs.....
Personally I think that everyones talking themselves into it - it's depression in more than one sense. Think the answer is to spike the nation's water with some E and everyone cheer up a goddam bit - ain't like we live in Gaza, after all....
Jan 28th 2009, 6:49 pm
#3
same shit different day
Joined: Jun 2007
Posts: 1,049
Re: So just how bad is it?
here is some further depressing reading
-------------------------------------------------------------
If the history of past property cycles everywhere from London in the early 1990's, Mumbai in the mid 1990's, the Gulf in the 1980's and Silicon Valley six years ago are any guide, real estate values fall by 60 to 70 per cent from their bubble peak over a protracted four to six -year period.
<snip>
http://www.zawya.com/printstory.cfm?...l=042000090126
-------------------------------------------------------------
If the history of past property cycles everywhere from London in the early 1990's, Mumbai in the mid 1990's, the Gulf in the 1980's and Silicon Valley six years ago are any guide, real estate values fall by 60 to 70 per cent from their bubble peak over a protracted four to six -year period.
<snip>
http://www.zawya.com/printstory.cfm?...l=042000090126
Last edited by Autonomy; Jan 28th 2009 at 7:11 pm. Reason: no wholesale cutting and pasting please - links... thanks
Jan 28th 2009, 7:07 pm
#4
Excess Baggage
Joined: Jul 2006
Location: UK
Posts: 5,479
Re: So just how bad is it?
here is some further depressing reading
-------------------------------------------------------------
If the history of past property cycles everywhere from London in the early 1990's, Mumbai in the mid 1990's, the Gulf in the 1980's and Silicon Valley six years ago are any guide, real estate values fall by 60 to 70 per cent from their bubble peak over a protracted four to six -year period.
<snip>
-------------------------------------------------------------
If the history of past property cycles everywhere from London in the early 1990's, Mumbai in the mid 1990's, the Gulf in the 1980's and Silicon Valley six years ago are any guide, real estate values fall by 60 to 70 per cent from their bubble peak over a protracted four to six -year period.
<snip>
Jan 28th 2009, 7:34 pm
#5
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,240
Re: So just how bad is it?
My job might go soon.
I've not wasted any time clutching at straws, got an interview today somewhere else.
There are still plenty of jobs out there but you need to be willing to ask because most positions are never advertised
.
I've actually done quite well out of this "credit crunch" because, like many I'd imagine, I followed my mums advice for once, and have never lived on credit. [/rubbing it in]
I've not wasted any time clutching at straws, got an interview today somewhere else.
There are still plenty of jobs out there but you need to be willing to ask because most positions are never advertised
.I've actually done quite well out of this "credit crunch" because, like many I'd imagine, I followed my mums advice for once, and have never lived on credit. [/rubbing it in]
Jan 28th 2009, 7:37 pm
#6
Powered by cows
Thread Starter
Joined: Jul 2004
Location: currently Dubai, ex UK
Posts: 4,582
Re: So just how bad is it?
You know I'm with ya'... you lead and I'll follow... we'll just need to take care of the sky being filled with what appears to be GIANT BATS...
Jan 28th 2009, 7:38 pm
#7
Truth is the safest lie.
Joined: Jul 2008
Location: @ the beach.
Posts: 7,240
Jan 29th 2009, 5:25 am
#8
why ayeeeee man!
Joined: Jan 2008
Location: Disco Gardens...
Posts: 11,370
Re: So just how bad is it?
Not good at all....
Britain's economy will be the hardest hit in the developed world in what is expected to be the "deepest recession since the second world war," the International Monetary Fund said today...
... Also today, a United Nations agency warned that more than 50 million jobs could disappear around the world this year. As the global economy battles its worst downturn since the Great Depression, the International Labour Organisation (ILO) said its worst case scenario would see 51 million more jobs lost by the end of this year, taking the global unemployment rate to 7.1% from 6% last year.
http://www.guardian.co.uk/business/2...oyment-to-soar
Britain's economy will be the hardest hit in the developed world in what is expected to be the "deepest recession since the second world war," the International Monetary Fund said today...
... Also today, a United Nations agency warned that more than 50 million jobs could disappear around the world this year. As the global economy battles its worst downturn since the Great Depression, the International Labour Organisation (ILO) said its worst case scenario would see 51 million more jobs lost by the end of this year, taking the global unemployment rate to 7.1% from 6% last year.
http://www.guardian.co.uk/business/2...oyment-to-soar
Jan 29th 2009, 5:28 am
#9
Account Closed
Joined: Jul 2007
Posts: 7,028
Re: So just how bad is it?
well me and mrs spugsy really times it right for leaving (just over a year ago), I spoke to my old mates at work and they said there would have been a good chance of me losing my job if I was still in the UK, same goes for mrs spugsy, with our credit cards debts and 100% mortgage plus no savings we would have been in deep, deep trouble.
Jan 29th 2009, 5:48 am
#10
why ayeeeee man!
Joined: Jan 2008
Location: Disco Gardens...
Posts: 11,370
Jan 29th 2009, 8:00 am
#11
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: So just how bad is it?
I get the impression that people in the UK are drawing in their breath in anticipation for painful times ahead, but yeah, it's not like you get kicked out of your country or sent to jail for having debts, so in my mind, it's easier to weather the storm in the UK.
Most of the people I know seem borderline obsessed on picking up good deals at the supermarket and have switched to Tesco Value or whatever.
How much of that is fuelled by the media, I don't know. There's a big focus on making your money stretch and every page seems to have either doom and gloom stories or those little heart-warming ones about cats being rescued from certain death.
Interestingly, this evening (I think) there's a documentary Piers Morgan is doing about Dubai, which I'll be watching with great interest... I wonder how many will be drawn to the gleaming, sunny skyscraper images and tales of untold luxury?!
Most of the people I know seem borderline obsessed on picking up good deals at the supermarket and have switched to Tesco Value or whatever.
How much of that is fuelled by the media, I don't know. There's a big focus on making your money stretch and every page seems to have either doom and gloom stories or those little heart-warming ones about cats being rescued from certain death.
Interestingly, this evening (I think) there's a documentary Piers Morgan is doing about Dubai, which I'll be watching with great interest... I wonder how many will be drawn to the gleaming, sunny skyscraper images and tales of untold luxury?!
Jan 29th 2009, 8:15 am
#12
BE Enthusiast
Joined: May 2008
Posts: 605
Re: So just how bad is it?
well me and mrs spugsy really times it right for leaving (just over a year ago), I spoke to my old mates at work and they said there would have been a good chance of me losing my job if I was still in the UK, same goes for mrs spugsy, with our credit cards debts and 100% mortgage plus no savings we would have been in deep, deep trouble.
Jan 29th 2009, 8:23 am
#14
BE Enthusiast
Joined: Mar 2008
Location: all over the place
Posts: 759
Re: So just how bad is it?
I get the impression that people in the UK are drawing in their breath in anticipation for painful times ahead, but yeah, it's not like you get kicked out of your country or sent to jail for having debts, so in my mind, it's easier to weather the storm in the UK.
Most of the people I know seem borderline obsessed on picking up good deals at the supermarket and have switched to Tesco Value or whatever.
How much of that is fuelled by the media, I don't know. There's a big focus on making your money stretch and every page seems to have either doom and gloom stories or those little heart-warming ones about cats being rescued from certain death.
Interestingly, this evening (I think) there's a documentary Piers Morgan is doing about Dubai, which I'll be watching with great interest... I wonder how many will be drawn to the gleaming, sunny skyscraper images and tales of untold luxury?!
Most of the people I know seem borderline obsessed on picking up good deals at the supermarket and have switched to Tesco Value or whatever.
How much of that is fuelled by the media, I don't know. There's a big focus on making your money stretch and every page seems to have either doom and gloom stories or those little heart-warming ones about cats being rescued from certain death.
Interestingly, this evening (I think) there's a documentary Piers Morgan is doing about Dubai, which I'll be watching with great interest... I wonder how many will be drawn to the gleaming, sunny skyscraper images and tales of untold luxury?!
Jan 29th 2009, 9:07 am
#15
ex-expat
Joined: Nov 2008
Location: in front of my computer - in sunny Sussex!
Posts: 2,162
Re: So just how bad is it?
http://www.radiotimes.com/ListingsSe...s_fullpage.jsp
Tonight 21h, ITV1...
