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National "Downturn Day"

According to the beeb

This really gets on my ****. Dumbing down is the least of it - this really is a case of "you get what you wish for"

(Great first thread in months for me, eh? )
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Re: National "Downturn Day"

I'm sure if we talk about doom and gloom for long enough... we'll diffenitely get there....

Keep smiling that my moto...
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Re: National "Downturn Day"

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Originally Posted by Fraser View Post
According to the beeb

This really gets on my ****. Dumbing down is the least of it - this really is a case of "you get what you wish for"

(Great first thread in months for me, eh? )
And here's me thinking you caused it.

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Originally Posted by Fraser View Post
This really gets on my ****.

"you get what you wish for"

(Great first thread in months for me, eh? )

So thats where you were....What size did you wish for..jordans ?
pomeo

Last edited by Pomeo; 24-10-08 at 10:12.
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Re: National "Downturn Day"

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Originally Posted by braddersgt View Post
I'm sure if we talk about doom and gloom for long enough... we'll diffenitely get there....

Keep smiling that my moto...
What He said.... I'm sure the blummin' media are bent on talking us into recession
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Re: National "Downturn Day"

Good news doesn't sell etc ............ only glum news....
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Re: National "Downturn Day"

Welcome back Fraser, where have you been hiding?
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Re: National "Downturn Day"

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Welcome back Fraser, where have you been hiding?
Another tale to tell. Later
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Re: National "Downturn Day"

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Another tale to tell. Later
So it was a clinic then

or is it like mason166 in the 166 room?He's form Taiwan BUt shhhh it's a secret.

Pomeo
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Re: National "Downturn Day"

If the Governmant are admitting things are bad then they must be bad.

They generally massage figures to make them look better.
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Re: National "Downturn Day"

Great welcome back thread F!!

A self fulfilling prophecy with the economy. Load of tosh IMO. That goodness we're busy right through until Oct 2009
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Re: National "Downturn Day"

Was on Oxford Street last saturday unfortunately , absolutely rammed plenty of people had bags .I know times are tough for people but highlighting this will mean any recession will be deeeper and longer.I realise the media's role is to report ,when does reporting the news drift into creating it?
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Re: National "Downturn Day"

petrol prices are dropping, interest rates are coming down, people are cutting down on the booze/fags/takeaways, people are watching how much electricity and gas they're using at home, people are eating more healthy food like fresh fruit & veg from the market.

recession? bring it on!!!
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Re: National "Downturn Day"

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Originally Posted by ACAPULCO AL View Post
petrol prices are dropping, interest rates are coming down, people are cutting down on the booze/fags/takeaways, people are watching how much electricity and gas they're using at home, people are eating more healthy food like fresh fruit & veg from the market.

recession? bring it on!!!
Exactly!

With the interest rates dropping we can afford to over pay even more on the mortgage and my biggest monthly expense, diesel is coming down by the day. And we're all worried at work about how we're going to staff the 10m and the 8m jobs that have landed on us in the last week, we simply haven't got enough people to keep up with that sort of workload.

Good old media whipping up a storm. The country has seen the longest period of sustained grown in its history, the economy has doubled and now the BBC are worrying us to death over dropping 1%? All those businesses they interviewed in the BBC morning program say they have grown year on year for the last 20 years, now they're worried about the recession. Make hay while the sun shines, save for a rainy day, if they think the world is going to be rosey for ever and don't have contingency plans in place for recession periods then more fool them, splashing the cash on expansion and not putting anything aside is foolish tactics and those who haven't are starting to pay the price
 
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Re: National "Downturn Day"

Rubbish thread

Great to see you back chap
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Re: National "Downturn Day"

I have to say (for fear of contradicting myself) the recession is real. We've cut our working week to four days because much of our work just stopped. Overnight.

When you have a much reduced workload and cash flow as a result it's hard just to continue as usual.

@Dibbie - we are a small consultancy and are, therefore, not exactly asset rich. Your analysis simply does not apply to high turnover/low-profit margin organisations and there are many of them about.

I stills tick to my original post though. There's definately a strong element of having talked ourselves into this and the BBC's coverage really hacks me off.
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Re: National "Downturn Day"

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Rubbish thread

Great to see you back chap
Cheers Chris.
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Re: National "Downturn Day"

Do we have to be all serious now your back









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Re: National "Downturn Day"

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Originally Posted by Fraser View Post
I have to say (for fear of contradicting myself) the recession is real. We've cut our working week to four days because much of our work just stopped. Overnight.

When you have a much reduced workload and cash flow as a result it's hard just to continue as usual.

@Dibbie - we are a small consultancy and are, therefore, not exactly asset rich. Your analysis simply does not apply to high turnover/low-profit margin organisations and there are many of them about.

I stills tick to my original post though. There's definately a strong element of having talked ourselves into this and the BBC's coverage really hacks me off.
Totally agree Fraser, that Peston guy has been positively salivating at the bad news, it must be some kind of turn on for him. There is a real crisis though, because there are fewer "real" jobs on offer, as firms try to trim workforces. There are other companies who cannot afford to take new staff on to cope with extra pressure. If the interest rates do go down - someone on the box mentioned as low as 2 - 3% over the next two years, then it will be the likes of myself, who being prudent took out a fixed mortgage (ends 2014) at 5% who will be subsidising the next boom and bust cycle. Very low mortgage rates, coupled with a need to lend at all costs, will just get us back in the messy stuff again.
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Re: National "Downturn Day"

Some sense from a BBC journo!
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Re: National "Downturn Day"

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Do we have to be all serious now your back





Shut up and get on with your work, boy.

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Re: National "Downturn Day"

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You're right it is very real and has been for months in some sectors. In fact retail, automotive, manufacturing, business services and property in particular have been on a downturn for months. The indicators appeared way before Lehmans, bailouts and puffed up Peston, all these things have served to do is accelerate the downturn in the eyes of joe public and hence brought forward a little bit what was always inevitable. The press can certainly break an individual business but they can't cause a recesssion - they can only speed it along a little bit.

Andy I'm no IFA but that strikes me as a long time to have locked yourself in for. Assuming you took it out this year that means it's a minimum 6 year fixed term although I'm guessing it's longer than that though ?

RSK
Yes, I kind of looked at the historically low rates when I took it out (not imagining the current crisis), and wanted to put a lot out of my mind. It could have been worse, imagine if I had done it when the rates were 6.5%. I can pay off up to 10% of the capital o/s every year without penalty, so I will just keep plugging away. At the time, I was also considering buying about $30K at an exchange rate of 2.1, that would have looked quite good now. Ah well, swings and roundabouts, snakes and ladders.
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Re: National "Downturn Day"

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Originally Posted by ACAPULCO AL View Post
petrol prices are dropping, interest rates are coming down, people are cutting down on the booze/fags/takeaways, people are watching how much electricity and gas they're using at home, people are eating more healthy food like fresh fruit & veg from the market.

recession? bring it on!!!
I agree

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Originally Posted by Dibby View Post
Exactly!

With the interest rates dropping we can afford to over pay even more on the mortgage and my biggest monthly expense, diesel is coming down by the day. And we're all worried at work about how we're going to staff the 10m and the 8m jobs that have landed on us in the last week, we simply haven't got enough people to keep up with that sort of workload.
Ah, but mortgage rates aren't dropping, the BoE's base rate doesn't affect mortgage rates if banks aren't lending to one another.. Unless your mortgage is a tracker, that is..
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Re: National "Downturn Day"

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Shut up and get on with your work, boy.


Ok boss






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