Recession - Things dont look good at all.

[67688c]

Just come off the phone to friends of ours who live in the USA, he was telling us that he's just been made redundant after 25 yrs with same company, and from what he is saying it does'nt look like he will come away with very much at all. Many of their friends are being laid off and the prospects for finding new jobs look really bleak. I was reading similar stories on newpaper feedback columns from many other U.S. residents today, and what with the 533,000 laid off in November alone, its looking really bad over there.

There is no doubt about it, we are going to really feel the pinch in the new year here in the UK, its already started, but sadly I fear its going to be much worse than many people realise.
Being retired with no mortgage and some savings does mean it wont affect me too much, thank god, but if the pound collapses competely one's bit of savings will be worthless too.. I am more concerned however for those people who really need the income from full employment to meet the bills, especially those with families to support... not good at all. Lets face it... its dammed hard to save anything at all when bills are rising and one has a family to support. I know what its like only too well from when we were younger.

I've felt for a while that things were going to get really bad here in the UK, but even my pessimistic assessment of the situation, I fear, falls far short of how critical things are going to become.

My advice... enjoy this xmas, it may be our last decent xmas here in the UK for a long time.

[mark1319]

Feel happy I have a secure job in the forces now

[ditchp]

being self employed i am starting to feel the effect's now, just hope i can keep afloat a while longer

[MLC]

I've got a reasonably secure job. What I'm worried about is the small amount of savings I've got disappearing into a big black hole. Problem is, where do you put your money? All the banks are in the same boat.

And as for Gormless Gordon and the other incompetents that fiddled whilst Rome burnt. I'm sure they've taken steps to ensure THEY will be immune from the whole sorry mess.

[ed taylor]

Yes we. The working man have paid for their MASSIVE Pensions, and WE will end up with f##k all.

[rushy]

The ones that will come out of it with the least of disruption are the freeloaders that have never worked, and lived of benefits all there life's. If they fancy a bit more cash they just produce another sprog for us to support.

[67688c]

Feel happy I have a secure job in the forces now

Having done my bit as they say... I'm sorta glad my own 2 sons did'nt go in the forces, not that they had the guts in the first place...lol
But yes.. I would definately think your job is currently very secure indeed.

You take good care of yourself matey, and thanks for doing a job that many others would'nt have the guts or inclination to do.

[mark1319]

Having done my bit as they say... I'm sorta glad my own 2 sons did'nt go in the forces, not that they had the guts in the first place...lol
But yes.. I would definately think your job is currently very secure indeed.

You take good care of yourself matey, and thanks for doing a job that many others would'nt have the guts or inclination to do.

I wouldn't want my children doing it either mate, almost 4yrs down the line and I've had more BS than any job I had before, but that's just one of the things you take with the job I suppose And thank you

[NellyD]

The ones that will come out of it with the least of disruption are the freeloaders that have never worked, and lived of benefits all there life's. If they fancy a bit more cash they just produce another sprog for us to support.

I agree with that statement, I have just started my new job and worry that if things get so bad; then I will be out of a job... As they say last in, first out

I do feel for the families, as I am lucky that I have only myself to support and I am very good at budgeting....

I have a couple of friends in the America, they stating it is the worse that they have seen, people losing their jobs and homes at the moment...

Heres hoping that it will get better soon

[67688c]

The ones that will come out of it with the least of disruption are the freeloaders that have never worked, and lived of benefits all there life's. If they fancy a bit more cash they just produce another sprog for us to support.

A lot of truth in those words unfortunately, this country has always been the same. What annoys me, is that even when you retire and receive your pension, you are much worse off if you have savings than someone who has never saved, or at least doesn't declare any. We just receive the basic pension from the government with no extra at all due to the fact we have some savings, and I have a private pension too which I paid into for years, plus a small WDP (War Disablement Pension) for loss of leg while serving in Ireland. Thing is even if one only has a small amount of savings say 20k and you claim pension credit (which is means tested) the Pension Service will stop you £1 per week for every £500 you have in savings, therefore on 20k you will receive £40 per week less than someone who states they have no savings.

You tell me where... especially these days you can get £40 a week interest on 20k, you simply can't, but that £40 loss is what the Pension Service would penalise you.... absolutely crazy. We get no help at all, other than a winter fuel payment which every pensioner gets now. If I had no savings I probably wouldn't have to pay my £1300 a year council tax either.

Sorry Rant Mode OFF.