General Chat

That we are heading quite quickly for a big recession? xxhugxx

All I would say is that Brown's statistics don't add up.

It seems likely - sooner rather than later. As a self-employed piano teacher I could lose a lot of income through it!

Without going into all the whys and wherefores, I have thought this for the past 2 years and I guess something gotta give sometime - soon, maybe. Two factors that I have in mind at this moment is - Unemployment figures and the number of houses that are being repossessed. We shall see, though I wouldnt be surprised if Gordon brings something out of his hat to show that this is not the case - and the public (includes me) are so gullible (does not include me). All the fancy figures that come out at each budget make it appear that we are a rich nation - time somebody had a very serious look at the figures.

Well I had some news today that confirmed it for me but I cannot go into detail at the moment xxhugxx

You been talking to Gordon, Lindy ?

Dont agree. There are still lots of job vacancies, interest rates are starting to come down, inflation is still under control. Compared to when I left school in the late seventies the economy is still booming.

i agree hubby is in the building trade and there isnt a lot of work about at the moment. the trade has hit a big slump at the moment,the only people that are busy are the plumbers lol susie

I have a friend who runs a courier service and they are finding it very difficult- petrol prices are crippling them. R.B. x

My eighteen year old daughter, has just got her first job with a firm who, due to expansion, needed more office staff. On the other hand, my 21 year old daughter, since graduating from uni, has chosen to stay in the north of England because she knows that she will never be able to afford accomodation in London. My guess is that the housing market will crash (at least in the SE) before there is a recession.

My Husband works in Manufacturing and he has noticed a big decline in work, and on the telly the other night they said that 'Manufacturing was officially in recession'! As a home owner with a fairly hefty mortgage I'm keeping my fingers firmly crossed - don't want negative equity. Kaye x

What goes up must come down. People are either being priced out of the housing market or are taking on 100% mortgages and praying interest rates don't rise. Meanwhile there are firms either outsourcing or closing down (three businesses shut in the last month where I live). There has been no corresponding increase in salaries to compensate for the increase in taxes and petrol prices. At some point, something is going to snap.