Recession

[parrysurf]

SoCal....Ventura area I run a Window and door company sale and install, and general construction (parasite) sister company. Sure has been fun for the last 10 years tho.....we have a good rep in our community so hopefully our rep will carry us thru these slow times.

I have seen 3 of my local competitors close their doors in the last 4 months. The meat is gettin lean.

[garbarrage]

less competition can't be a bad thing...
parasite...? sounds like they'll be the first to go... at least you're hitting the ground running with the other side tho. glad to see some people on here with a positive attitude towards it.
been unemployed for a few stints even during the boom and nothing worse than getting down about it.

[PapaW]

glad to see some people on here with a positive attitude towards it.

Here here!

Its a bonus for alot of my friends t the moment, they have been working towards buying a house and been holding out waiting for a slump. well here it is!

[Milo]

Recession, high fuel prices = empty beach`s.

[xswind]

glad to see some people on here with a positive attitude towards it.

Here here!

Its a bonus for alot of my friends t the moment, they have been working towards buying a house and been holding out waiting for a slump. well here it is!

Only if they can get a Mortage getting hard to find nowadays.

[PapaW]

glad to see some people on here with a positive attitude towards it.

Here here!

Its a bonus for alot of my friends t the moment, they have been working towards buying a house and been holding out waiting for a slump. well here it is!

Only if they can get a Mortage getting hard to find nowadays.

True, the ones that have hve pued their finger out and really set their sights on it hve built up some heafy deposits/part buys.

[greg@hoodatsurfco]

Yup - swings n roundabouts. A nerve-racking time for us salesmen!

I work for an electric car company so sales have gotten better for us.

[garbarrage]

^^ lookin for staff? lol
well here it is... d-day! officially redundant as of today!!!
or should i say officially a beach bum... never again will a mid week wave go unappreciated

[Sar]

good things for some people I guess:
http://news.bbc.co.uk/1/hi/magazine/7513563.stm

oh and the oil price dropped this week, which funnily enough wasnt widely reported.

[isaluteyou]

oh and the oil price dropped this week, which funnily enough wasnt widely reported.

Im sure that wont last probably why twasnt widely reported

[Sar]

oh and the oil price dropped this week, which funnily enough wasnt widely reported.

Im sure that wont last probably why twasnt widely reported

boooo, looks like you're right

July 18 (Bloomberg) -- Crude oil rose, rebounding from the biggest four-day decline in more than three years, on speculation that prices fell too far, too fast this week.

[isaluteyou]

didnt need to be phycic to see that coming. Maybe i should by a hourse with a surfboard rack attachment

[parrysurf]

I'm sure it is false hope.......but the last 2 weeks have been kick ass. Sell sell sell....keeping my fingers crossed that thing have started to turn a little.

[Banks]

already had to drastically reduce my alcohol intake and nights out this summer in order to keep my finances in check!

there is a real danger of the media making things much worse.
The financial world is largely built on speculation and if the media convince public its a bad time to buy a house now then they won't buy a house now and everyone waits and all the houses are worth less and people panic.
The media loves it and amplifies things which generates more panic and people won't invest in anything as nobody's buying anything because the papers say its a bad time to.

Definitely agree here. Bad media coverage will only reduce consumer confidence which has a profound effect on the amount people spend and buy - consumer confidence here in the UK is also at its lowest for 17 years. The other problem is that of price expectations - if people begin to demand higher wages in order to cope with all these hefty price increases, it'll make things much worse in terms of further inflation! However, since unemployment is rising here in the UK (and a lot of other places for that matter including the USA) this doesnt seem to be very likely as collective employee bargaining power is reduced.

The truth and the bottom line is the interest rate is still going down not up.

Have to agree here also. The Bank of England is in a bit of a pickle at the moment. Rapid inflation and a falling currency will sway them towards raising interest rates, but the level of rising unemployment and slowing economy will sway them to cut rates. I think the latter is more likely.

Time to economize on fuel and food - using vehicles that dont guzzle so much of the damn stuff, sharing surf trips with others and splitting the costs.. it's all possible! Time to shop at the discount stores for groceries.

On the plus side: Banks want more cash from us at the moment so saving rates are looking very appealing! Also, there are some houses to be had at a bargain.

On the negative side: If you work in the financial, retail, construction or property sectors i'd be more worried than others about your jobs!

studying Economics at university... interesting stuff! being a student will get me through these next two years. but if all else fails, goin on the doll sounds very appealing

[greg@hoodatsurfco]

:roll: didnt need to be phycic to see that coming. Maybe i should by a hourse with a surfboard rack attachment

if you look at a graph in oil prices they always go up a bit down slightly then up a bit and down slightly and follow that pattern... its a zig zagging line that is constantly going up more than it goes down..

kinda like a 3 steps forward one step back kinda deal.

i don't really care what happens.. i mean i do.. but im so burnt out on it.

[Real Pol]

Recession?
What recession?
According to the media Aberdeen is the only place in the country that doesn't have the credit crunch.

Oh and according to the Independent we all drive around in Bentleys and ferraris!

http://www.independent.co.uk/news/uk/this-britain/welcome-to-boomtown-britains-new-capital-of-bling-891291.html

(I'm typing this in my granite villa! )

[Sar]

i don't really care what happens.. i mean i do.. but im so burnt out on it.

same here!! Im kinda getting bored by the 'credit crunch' media frenzy, I do feel for those loosing there jobs (im affected by that too) and homes closer to home and those living in poverty around the world being profoundly affected by rising food costs but at the same just wish that the media would convey the issue in a more proportional manner rather than painting doom and gloom all the bloody time - nothing can be learned by creating such panic. After my post about oil prices they continued to fall in the following weeks, as did prices petrol prices at the pumps - not widely reported though.

Oooh and domestic energy prices are rocketing by 30% - they increase massively in every northern hemisphere winter and readjust in spring (goes unreported) - though of course not back to levels as low as the spring in the year before - thats called inflation and dwindling resources. I think that the politicians who control a lot of the economics have a significant part to play in this and should be held accountable to an extent as befits their role but I do not blame them for peoples personal overspending - Im sick of people enjoying riding high in the booms and then blaming others for our own personal errors in the busts, nothing will be learned by doing so.

Also, I think a reality check is important; remember that those of us who are fortunate enough to live in affluent countries will be a lot less hard hit than those in countries where poverty is more widely felt - their choice isnt wether they can afford a new car or a surfing trip but who in the family they can afford to feed! This is at a time where the 'credit crunch' will reduce foreign aid and those wanting to borrow from the world bank will have to sign up to Structural Adjustment Programmes which will be of more detriment to their social spending and thus require more 'foreign aid' (which some begrudge giving). A recession is obviously bad....but should not come as an unexpected suprise and needs to be kept in perspective.

sorry, i always ramble and rant after Ive had a few and tonight ive had a few - I really needed to get that off my chest (sorry but Im still gonna hit 'submit')

[isaluteyou]

interesting stuff there^^^^

the philosophocial debate has be raised. that perhaps things are actualy not bad but because general acknowledgment is bad the situation is infinitly worse. Perhaps some sot of placebo is required

Who knows what the future holds but if history is anything to go by the outlook looks bleak indeed

I also find it interesting how TV has started to continually play doom and gloom stuff, the history channel seems to constantly play stuff o n mega disasters apocalyptic phrophasies etc etc etc.........

[pkbum]

Recession, high fuel prices = empty beach`s.

you sure about that? its still full around here and it takes around 15~30 minute just to a parking spot. i think they need to raise it more so they can save me some time

[northswell]

Well i'm now a Development Engineer for a company that makes electrical contacts (boring)

Plus side for us i that people may upgrade their houses instead of moving (good times) as we supply to some of the worlds biggest socket/light switch manufacturers.

Down side we also supply electrical contacts to teh car and plane industries (bad times)

Not a massive company but turnover was up last year and new contracts sourced so maybe i may be ok. Strange for a UK company but the growing market for us is the far east, which now delivers 36% of our turnover and growing.

It's deffo tabloid hype.