Galaxy Note 8 vs iPhone X
Panorama is just on & its VERY worrying for Small companies, do you had a small buisness & if so are you worried..??
I work in a Recruitment Agency & we had a group of Brick Layers call for work last week..? we've had all sorts of people that normaly would avoid a Agency at any cost...
Are you worried about all this..??
I watched it on bbci
The majority as a whole will be ok especially senior members.What differentiates this time over previous recessions is the level of individual debt.The impact of this is not fully out there yet but over the next 12-18 months will keep risng.
The younger generation have different values and have built up significant debt.The cost of living on top of the debt will have much more of an impact than has been previously seen.
I was declared bankrupt in June and was the result of running/trying to keep a small business going(not ruling out being stupid).
I lost everything,house etc and starting again at 43.
The stress involved,phone calls letters etc is unbelievable.The letters recieved and phone calls were approx 140 per day,those were very dark days.The companies involved are prepared to accept nothing in return for the debt(bankruptcy),rather than accept full payment over a number of years.
So now the deed is done,although I would of preferred to pay back the money,this was not an option and I will be discharged in the next 6-9 months to start all over again.
Not any longer,Lifes too short Ive a roof over my head, the family is happy again,good job etc.Theres more to life than money,its only when you have been through such extremes such as financial/ health etc that you fully value the simple things.
Keep smiling !
that you're doing the worrying for all the rest of us. I notice that you post fairly regularly on anything that involves the financial downturn. I know things aren't so good at the moment, but they've been worse in the past, and we've pulled through. We'll pull through this time, as well.
It's worth rermembering - although it doesn't necessarily make it any easier - that we're not the only country that's having a hard time by a long chalk. There's a worldwide economic downturn in progress, and other countries are struggling - Japan has seen inflation rise for ten successive months. Americans are seeing the fastest rise in their cost of living for over fifteen years, and the price of petrol at the pumps is up by almost 38% on a year ago.
Things are tough right now, but we can work our way out of the problem if we understand that we need to control our credit spending and hold back on wage demands.
I am not worried by the credit crisis as I have no loans/mortgage or even credit cards.I too was unfortunate to become declared bankrupt and lost my home and am now discharged as this was in 2002.
" Are YOU Worried about the credit crisis".
Personally no, because I am fortunate to have allowed (hopefully!) for my retirement years, and perhaps have made decisions wisely. But this doesn't stop me from thinking about other unfortunate people, who perhaps through no fault of their own have suffered very hard times and are still doing so.
A number of years ago, I was involved in bad debt chasing. And I can truly say, that of the three people or companies involved, I only had sentiment with one person. That person was an extremely hard working middle aged man, who lost his home and family through rising business debts. Of the other two cases, which involved companies, very little was lost by the directors due to laws, which in my and other peoples opinion, favoured the directors.These directors left with considerable benefits, when their employees and people like myself were left with nothing.
I always try not to worry about things that I personally can do absolutely nothing about. As I took early retirement some years ago, have no mortgage, no debt to speak of and no savings (not the conventional kind anyway) I feel that I have very little to worry about.
I must admit though that at times I do worry about my two children. My daughter and her husband have one young baby and a large mortgage. They bath work full time and so have large bills to pay for child care. I don`t know how safe their jobs are these days.
My son started a small business in Brighton some four years ago, is married and is finding it very hard to save so as to get on the housing ladder and start a family of his own. Obviously no new small business is very safe these days.
But as F.E. suggests we have been through bad times before and come through. I remember the 60 and 70and there may well be people on this forum who remember very much worse times.
The credit crisis as such doesn't concern me. No mortgage or loans. No job to be made redundant from.
However, I retired early some 14 months ago calculating our financial future when inflation was under control. Part of our income derives from company dividends and several have cut back or stopped paying a dividend this year, just as living costs are rising steeply.
So yes, it does affect me. Worrying doesn't solve anything though.
The tooth fairy has her own tooth fairy!
I am a worry addict, if I do not have anything to worry about, then I worry about the fact that I have no worries.
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