This recession, how long do you think will it go on for?
Discussion
Anyone looking for a job at the moment will tell you it's very tough, and almost pointless. Unemployment is incredibly high.
House prices have shown a recovery, but how long will this go on for? Will alot of people see that values have risen and try to lock in a profit/reduced loss and put thier property on the market, bringing values down again?
FTSE has enjoyed a healthy buying spree, is this simply because the interest rates on bonds is so low that a cheap FTSE is a decent place to dump investors cash at the moment?
To be honest I'm confused, I know the things that are happening in front of my face don't look good, like my redundancy late last year and current job which is not a 1/3rd or my old one salary wise meaning my personal buying power is very limited and I simply can't have the things I want.
When do you think this will all end in Britain??
I'm going to put my neck out and say that I think that next summer will be the same or worse than this one, I think alot of people will not be able to recover from what's happened and will have even less buying power next year, causing buisiness to reduce furthur meaning more redundancies and cut backs.
I could of course be wrong, which is why I'm interested to hear your views..
House prices have shown a recovery, but how long will this go on for? Will alot of people see that values have risen and try to lock in a profit/reduced loss and put thier property on the market, bringing values down again?
FTSE has enjoyed a healthy buying spree, is this simply because the interest rates on bonds is so low that a cheap FTSE is a decent place to dump investors cash at the moment?
To be honest I'm confused, I know the things that are happening in front of my face don't look good, like my redundancy late last year and current job which is not a 1/3rd or my old one salary wise meaning my personal buying power is very limited and I simply can't have the things I want.
When do you think this will all end in Britain??
I'm going to put my neck out and say that I think that next summer will be the same or worse than this one, I think alot of people will not be able to recover from what's happened and will have even less buying power next year, causing buisiness to reduce furthur meaning more redundancies and cut backs.
I could of course be wrong, which is why I'm interested to hear your views..
It's very hard to see why anything should recover soon. The divergence between "haves" and "have nots" is now very large and increasing daily. I live and work in Chelsea/Fulham and note the vacant shops increasing and ease with which I can cycle along the Embankment. The guys who are making money in my business (bond trading) are making mega bucks. Logically low interest rates will ease the pain for many and eventually lead to inflation of real assets. The main, recent, driver of the UK has been the City which is recovering (one US bank hired a trader on a £1mio package recently) but only benfiting a limited number who, by and large, are unwilling to spend their cash as they used to. All very vague I know..but I agree with you...we are past the worst...just not sure where we go from here...
This is not the beginning of the end but the end of the beginning.
There are still a lot of people who have substantial funds to fall back on who will not be up the creek. They are not as well off as they were but they will come out in a reasonable position as soon as things turn up.
There are however a large number of people who have had to take serious reductions in their income and others who will be unlikely to find work again in the near future.
Then there are those at the top of the tree who have seen little or no real affect upon them directly but who are now being less profligate with their spending.
Personally I think that the real worst is over (although I equally feel that there are still a few more shocks to come) but that we will not see anything other than a marking of time until the new year.
There are still a lot of people who have substantial funds to fall back on who will not be up the creek. They are not as well off as they were but they will come out in a reasonable position as soon as things turn up.
There are however a large number of people who have had to take serious reductions in their income and others who will be unlikely to find work again in the near future.
Then there are those at the top of the tree who have seen little or no real affect upon them directly but who are now being less profligate with their spending.
Personally I think that the real worst is over (although I equally feel that there are still a few more shocks to come) but that we will not see anything other than a marking of time until the new year.
ascayman said:
if you really want a job you can get a job, might not be one you want but you can get one.
There in lies the problem though. There are a lot of employers who will not employ the 40 year old redundant manager to do the £7.50 per hour administrators job because they know that the first sniff of anything like their original salary and they will be out of there.We have a massive number of people who are willing to work but because they are motivated people the employers know that if they were on £40kpa there is no way they are going to stick around on a £20kpa job once people start hiring managers again.
There is plenty of work for those under 25 who are willing to earn their money but very little for those who are 10 years older.
Rude-boy said:
ascayman said:
if you really want a job you can get a job, might not be one you want but you can get one.
There in lies the problem though. There are a lot of employers who will not employ the 40 year old redundant manager to do the £7.50 per hour administrators job because they know that the first sniff of anything like their original salary and they will be out of there.We have a massive number of people who are willing to work but because they are motivated people the employers know that if they were on £40kpa there is no way they are going to stick around on a £20kpa job once people start hiring managers again.
There is plenty of work for those under 25 who are willing to earn their money but very little for those who are 10 years older.
agreed
I've been chasing a number of jobs but haven't btohered responding to graduate, assistant or surveyor jobs as they know that with my experience they will be looking to recruit again in 12 months
I'm finding that there's at least 50 people chasing every senior or associate level job at the moment
Rude-boy said:
ascayman said:
if you really want a job you can get a job, might not be one you want but you can get one.
There in lies the problem though. There are a lot of employers who will not employ the 40 year old redundant manager to do the £7.50 per hour administrators job because they know that the first sniff of anything like their original salary and they will be out of there.We have a massive number of people who are willing to work but because they are motivated people the employers know that if they were on £40kpa there is no way they are going to stick around on a £20kpa job once people start hiring managers again.
There is plenty of work for those under 25 who are willing to earn their money but very little for those who are 10 years older.
thegavster said:
ascayman said:
if you really want a job you can get a job, might not be one you want but you can get one.
Really? I assume you're referring to educated, skilled people perhaps downgrading to more manual, basic jobs just to get some income?during the last recession my dad lost his very high paid job, to make ends meet and keep food on the table he became the janitor of the school i was at six form in.
he only stayed until he got back on his feet but needs must.
i couldn’t have been prouder and it taught me a valuable life lesson.
if you need a job you can get one.
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