Are the Good Times Over?

  oresome 17:02 21 Nov 2007
Locked

Oil price at an all time high. America on the brink of recession. Interest rates up. Credit supply tightening. Food prices soaring.

That Dixon's share price is 36% down this year (They own Currys and PC World) is an indicator that consumer spending is being hit.

PC suppliers always seem on shakey ground at the best of times. Will we see some more casualties?

Are you having to tighten your belt this Christmas? Or is it a spend spend spend as usual?

  birdface 17:19 21 Nov 2007

Oresome is that you trying to cheer us up before Xmas,But I have to agree with you,You think things are bound to get a better but they never do.All the Papers all the News programs, when do you ever get good news from them.And Yes I will have to tighten the belt this Xmas,And all the nice presents that I used to be able to get the grandchildren,I can't anymore and although they understand, it does not make me feel any better.but then again I would rather have Health than Wealth.You never know if PC prices keep falling,I suppose I will just have to go and buy a bigger sock just in case.

  Totally-braindead 17:24 21 Nov 2007

We're all doomed!

I'm going to have a very poor Xmas, no work so no money. It'll be a very lean Xmas for me but on the plus side I spend time with my family which for me is the highlight of Xmas.

Look on the bright side, theres plenty of things to moan about but we all have some things that are good and that we should be thankful for.

Cheer up and focus on the positive.

  GANDALF <|:-)> 17:25 21 Nov 2007

The total disasterin the American sub-prime mortgage is going to hit here even more. Only 30% of all the bad debts were held by American companies, the other 70% had been sold onto foreign companies/banks..a larghe percentage of that debt has landed in the UK..Barclays, Northern (lend us £40 billion) Rock, Pinnacle and most of the big lenders. 2008 should be an interesting year in the UK.

G

  Legolas 18:18 21 Nov 2007

Well if all Christmas means to anyone is presents and food and drink then I suppose the tightening of the belt will affect their enjoyment of the festive season.

But I am with Totally-braindead the best part of Christmas is having my family around me, and when you think of the many people in different countries around the world who will be lucky to have enough food to keep them alive, then if I have to forgo a few presents then I will think myself very very fortunate. I will probably do the same as last year, I will buy the children presents but the money I would have spent on the adults will go to charity.

I wasn't going to do the above this year till I heard someone on the radio say he disliked Christmas because he always found himself wandering around one of the many shopping complexies looking to buy gifts for people who din't need them and receiving gifts that he in turn didn't need. I agree wth him.

  Pine Man 18:27 21 Nov 2007

No mortgage, no shares.

Interest rates go up I get more interest on my savings.

You win some, you lose some. This time it's my turn!!

  Pine Man 18:33 21 Nov 2007

....petrol prices up - cost to me about £1 a week.

My glass is half full!

  HCOOH 15:55 22 Nov 2007

You probably have not heard about the new tax about to be levied on people that do not have a mortgage. This Goverments' commitment to a fairer society relies on a redistribution of personal wealth.
As people that are defined,"as having some disposable income remaining after statutory stoppages have been applied" are identified, then the new tax will be levied at a "fair" rate of 90 pence in the pound. This will bring these people into line with the general population.

  The 12th Man 17:09 22 Nov 2007

I, too, have heard of this new tax. I think it's great. Everyone should be poor.

But on a serious note..... has anyone been following the falling US dollar?

Aparently, it is paving the way for a new currency.

click here

  Cymro. 17:24 22 Nov 2007

I am no expert economist and I don`t suppose that many others on this forum are, and even if we were experts on the subject I doubt very much if we would agree about anything.

It seems to me that the country is in a better position to put up with a recession now than it was in the past.

Say what you will about Gordon Brown, he has been the most successful chancellor of the exchequer of modern times.

Granted he does it with spin and kidology etc. But we are in better shape for any coming storm than many other countries.

  Pine Man 18:24 22 Nov 2007

I am more than happy to share my debts ;-)

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