Recession 'looming' for UK firms

  last starfighter 09:45 08 Jul 2008

its much more obvious now isnt it

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  Armchair 09:55 08 Jul 2008

Good. I'll live on so-called 'benefits', then. Like the other million or so scrounge.......... sorry, I mean 'unemployables'.

  last starfighter 11:25 08 Jul 2008

YOUVE GOT TO LAUGH Quote from this story "MPs are now calling for more benefits fraudsters to be prosecuted" HOW DARE THEY after there current record!!!

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  newman35 11:34 08 Jul 2008

"..It also wants the DWP to continue to take a "firm and co-ordinated approach" on organised crime, which poses a "serious threat" to the benefit system".

-is there a more organised set of 'criminals' than those who vote to keep their noses in their own 'benefits' trough?

  spuds 12:27 08 Jul 2008

Reading some of the daily financial papers, can make depressing reading. Northern Rock now Bradford And Bingley. Building firms laying off staff. Companies blaming the consumer for not spending more, and keeping company profits up. Even Martin Lewis is beginning to sound depressing. We all doomed I tell ye, all doomed (Dad's Army!).

  last starfighter 13:07 08 Jul 2008

spuds WELL u might not be a million miles away there its now known we have "Peaked" in the oil supplies & possably over that stage so they might not be as much down there as we have used in the last hundred's of years, One things for sure the goverments are worried one other thing to point out is that they are saying although there is a estimate of what oil is left they RALY arnt no where close to 100% sure what lie's down there..That would change the world wouldnt it if we ran out...BUT as FE has previously stated there's plenty down there i'll keep my fingers crossed

  jtt 13:09 08 Jul 2008

Recessions come in cycles. People used to say they came in 11 year cycles. I get the feeling that this one - if it happens - is long overdue. The last one was in the early 90s (ignoring the "downturn" of the noughties). Things have been bottling up for a long while.

  donki 13:42 08 Jul 2008

I agrre with you, the scarey thing is that nowadays people have alot more out goings than say 11 years ago. People are tied into contracts for phones, broadband, television which they cant easily get out of. Also the outstanding balance people have on credit is much higher and again this has to be paid, the same can be said for morgage repayments.

I honestly have to say that a ressession is coming and we can't simply bury are heads and say its just a down turn. The price of housing is just plain stupid and needs to come down for any first time buyer, on the national average wage, to be able to afford a house. Of course this will but thousands of people into negative equity but I dont see any other way around it. We seen jobs going in the housing market both seling and building, there will be cuts in the haulage sector as well if the government doesn't take action.

All i can say is thank goodness I still live at home.

  last starfighter 13:49 08 Jul 2008

"jtt" yes i agree !"Recessions come in cycles" BUT this isnt the "Run of the mill Recession" as is now clear we have also other sectors involved with this & i belive this is going to be HUGE & as our govement has been trying to make us belive that "ITs not so bad!" well if i had of listend to Alistar Darling & GB last year i would of bought my house where i am at the mo & if i had of done i would be thousands out of pocket ALLREADY..luckly i ignored them... a feeling that SO many brits are having..

  Forum Editor 14:25 08 Jul 2008

Really - and what evidence are you basing that remark on then?

First of all, we don't yet have any recession. We may have, in the future, but we may not. A recession exists when the economy experiences two consecutive quarters of negative growth, and that hasn't happened.

Your comments are typical of those who run around like headless chickens whenever some new report of impending doom is announced. If everyone got on with working as hard as possible, and stopped moaning endlessly about how bad things are we might just find that our problems recede a little. We've had full-blown recessions before in this country - the last one was in 1992 - and we survived them without everyone ending up on the breadline. If a recession comes this year it is likely to ne nowhere near as bad as the 1992 version, and we'll all live through it.

Recessions aren't specifically the result of government mismanagement, although lots of people tend to blame governments automatically. Modern economies are inextricably linked to world events, and we're not alone - America faces recession, too, and other economies (notably China and France) are slowing considerably.

One indicator is what's called the PMI (Purchasing Managers Index), and at the moment the PMI stands at about 45.8 which is above the 1992 recession level - we're roughly on a par with the PMI index as it was immediately after the 9/11 attack. The index needs to be above 50 to show economic growth - anything less than that is an indication that manufacturing output is contracting. It's not good, by any means, but it's not the end of life as we know it,either.

  last starfighter 15:00 08 Jul 2008

FE i am a realist & id rather be that way then be ignorant to whats happening around, There is solid prrof the market/ecomomy is RELAY struggling & it WONT pickup in the coming years..
for what its worth i have associates who work not to far from you in Liverpool St & they do give me some good advice of which i take as true. if i am wrong about all this maybe these are as well

& this is all within a couple of days business that this has been anounced..

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