So, how bad is it.

[bitwrx]

We're officially in recession. Citigroup are laying off 75000 staff (depending on who you believe). RBS are calling in loans (second hand but reliable info on a provincial property developer). Did I read unemployment was at some high for some period of time*?

So, for a young chap starting out on life, how hard is it going to be?

I've grown up in over a decade of sustained growth, so things have been pretty good really. Holidays abroad, cars and motorbikes, not flinching at the thought of spending £30 down the pub.

There'll be plenty of people who know what a recession is like in practical, day-to-day terms. So, go on, what can I expect to have to give up? How far am I going to have to pedal my bicycle every day to go and look for work? How many times am I going to have to darn my socks?

What other joys can I expect?

* I'm in New Zealand and consequently not very well informed at the mo. You'll have to help me on the figures.

[allgonepetetong]

If you have a job and continue being paid then it really isn't a problem. Things you want to buy will become cheaper and you will be able to pick yourself up a bargain property if you have aenough of a deposit put away to get a good mortgage rate.

If you remain employed it won't be all doom and gloom, but will you remain employed? that is the question.

[Horse_Apple]

bitwrx said:

Holidays abroad, cars and motorbikes, not flinching at the thought of spending £30 down the pub.

You've kind of answered your own question.

[RobDickinson]

Dont take on any more debt, try clear any debt you have and hope your job doesnt go poof. If it does hope you can find another one that covers your outgoings.


Or sponge of the state.

[humpbackmaniac]

Horse_Apple said:

bitwrx said:

Holidays abroad, cars and motorbikes, not flinching at the thought of spending £30 down the pub.

You've kind of answered your own question.

Yeah you pusssy, what are you drinking Perrier?

[hornetrider]

RobDickinson said:

Dont take on any more debt, try clear any debt you have and hope your job doesnt go poof.

Now, I realise times are tough... but are you saying he needs to work in a gay bar?

[bitwrx]

hornetrider said:

RobDickinson said:

Dont take on any more debt, try clear any debt you have and hope your job doesnt go poof.

Now, I realise times are tough... but are you saying he needs to work in a gay bar?

Remember. Sex sells. Always.

I suppose bugger might not be the word to describe my trepidation at this prospect. Perhaps Arse would be better.

Oh wait....

[bradders]

allgonepetetong said:

If you have a job and continue being paid then it really isn't a problem. Things you want to buy will become cheaper and you will be able to pick yourself up a bargain property if you have aenough of a deposit put away to get a good mortgage rate.

If you remain employed it won't be all doom and gloom, but will you remain employed? that is the question.

Not sure about things becoming cheaper. The cost price of all imports has risen over 30% in the last 3 months due to the weak pound. Houses, definately, consumables - let's see what happens to the high street retailers when they come to the end of their currency hedge deals!