Double-dip!

[twinkletoes]

Spain, a country well and truly fucked with over 25% unemployment and virtually bankrupt only had a decline in GDP of 0.3% last month compared to our 0.7%.

I'd rather a decline of 0.7% of making something than 0.3% of making fuck all.

The Bank of England has pumped £375bn into the UK economy over the last three years. How do you think things would be if we didnt have that option?

 

[Rammy Blue]

Spain, a country well and truly fucked with over 25% unemployment and virtually bankrupt only had a decline in GDP of 0.3% last month compared to our 0.7%.

I'd rather a decline of 0.7% of making something than 0.3% of making fuck all.

The Bank of England has pumped £375bn into the UK economy over the last three years. How do you think things would be if we didnt have that option?

More importantly, I wonder where that £375bn has gone?

 

[Ducado]

The thing is with this recession is that most people are not really feeling the pinch, infact many people have never had it so good. As a friend recently exclaimed to me when speaking on this subject "people in Weaste are sniffing cocaine" - Ok, maybe thats not the most scientific way of measuring things but it does make you think.....

So it's harder to get money from the banks so if you are looking to set up a business or perhaps remortgage/obtain a mortgage, and I believe you have not had a pay rise and there have been cuts in your stonking pensions if you work in the public sector (boo hoo!).

However the real reason why most of us have not had any makor effects is that the interest rates have remained at an all time low meaning that we have not suffered huge increase in our mortgage repayments like people suffered in the 80's. If that was to happen then I think we'd all really start feeling the pinch.

in many respects I agree with you if you want real recession Southern Europe is the place to be I was reading the other day that 1000s of Spanish are moving here because they think we are a very dynamic country believe it or not

 

[Ancient Citizen]

The thing is with this recession is that most people are not really feeling the pinch, infact many people have never had it so good. As a friend recently exclaimed to me when speaking on this subject "people in Weaste are sniffing cocaine" - Ok, maybe thats not the most scientific way of measuring things but it does make you think.....

So it's harder to get money from the banks so if you are looking to set up a business or perhaps remortgage/obtain a mortgage, and I believe you have not had a pay rise and there have been cuts in your stonking pensions if you work in the public sector (boo hoo!).

However the real reason why most of us have not had any makor effects is that the interest rates have remained at an all time low meaning that we have not suffered huge increase in our mortgage repayments like people suffered in the 80's. If that was to happen then I think we'd all really start feeling the pinch.

I think you're right about the low interest rates and this has cushioned us from some of the effects. I don't think this is going to last for much longer, however and believe that we're in for a rude awakening very shortly, the Euro , I'm certain, will collapse and your fears may well become reality.
Have a nice day.

 

[allan harper]

I'd rather a decline of 0.7% of making something than 0.3% of making fuck all.

The Bank of England has pumped £375bn into the UK economy over the last three years. How do you think things would be if we didnt have that option?

More importantly, I wonder where that £375bn has gone?

Wars ?

 

[brand blue heavies]

Greece have increased output of Tzatziki and Houmous in a desperate attempt to avoid a double dip recession.....sorry i`ll get my coat.

On a serious note weather the tories or Labour were in power this was going to happen. Spain is in real trouble, Greece is beyond help and Italy will also follow suit. BoE has indeed pumped £375bn into the economy and this was needed BIG TIME because like it or not a countries economy is based on a strong banking infrastructure and this is where the money has gone.

The ECB on the other hand is on a hiding to nothing with the countries above as tax returns are so low that no money is being put back into the economies and a vicious circle of tax and benefits begins. Its getting so bad in spain that they have cancelled the annual xmas bonus for all civil service staff!!!
Im afraid having a large majority of employment working for the government is biting these countries on the ass.

 

[brooklandsblue2.0]

The thing is with this recession is that most people are not really feeling the pinch, infact many people have never had it so good. As a friend recently exclaimed to me when speaking on this subject "people in Weaste are sniffing cocaine" - Ok, maybe thats not the most scientific way of measuring things but it does make you think.....

So it's harder to get money from the banks so if you are looking to set up a business or perhaps remortgage/obtain a mortgage, and I believe you have not had a pay rise and there have been cuts in your stonking pensions if you work in the public sector (boo hoo!).

However the real reason why most of us have not had any makor effects is that the interest rates have remained at an all time low meaning that we have not suffered huge increase in our mortgage repayments like people suffered in the 80's. If that was to happen then I think we'd all really start feeling the pinch.

I think you're right about the low interest rates and this has cushioned us from some of the effects. I don't think this is going to last for much longer, however and believe that we're in for a rude awakening very shortly, the Euro , I'm certain, will collapse and your fears may well become reality.
Have a nice day.

Yes I think you could be right, personally when I bought my house in 2006 my mortgage repayments were £700 and at one point rose to £916. Today I'm paying base rate of £525, plus I earn considerably more than back then so my disposable cash is significantly higher. I'm also fortunate to be in stable employment, I think a lot of my friends (Im 30) are in similar positions at the moment, but think we could be heading for a hefty wake up call.

*calls nationwide to fix mortgage!

 

[The Fat el Hombre]

Why do people think interest rates are going to go up? I can't see them going anywhere for a while. Surely if they did half the country would default?

 

[Uncle Wally One Ball]

Mervyn King said recently that there was scope for the interest rates to remain unchanged for a good while yet. Thank fuck. I think a big reason is that the South East of England mortgaged themselves up to the tits when things were good, and if the rates went up they would all be fucked. As we know the country revolves around what happens in dat London

 

[brooklandsblue2.0]

Why do people think interest rates are going to go up? I can't see them going anywhere for a while. Surely if they did half the country would default?

Thats what happened in the 80's apparently mate. The likes of me currently paying 500 ish were within months paying double/triple that after enjoying 'good times' for so ling they had bought cars, got credit etc and simply could not afford their homes.