Is The Recession Affecting You?

[Nemo]

It's not officially a recession until the official statistics show two quarters of negative economic growth. This hasn't hapenned yet, but sure as hell will do whenever they get round to releasing the figures.

[axs]

Exactly, within two weeks I believe.

[Sippo]

So when do the 'experts' expect things to pick up?

When will the damn pound get stronger? Its weak as fook at the moment.

[Nemo]

The pound's fucked, the UK government is on the verge of having it's credit rating downgraded, which would be pretty terrible for the strength of the currency. At the moment, the UK Government is considered a worse credit risk than Unilever, which is odd. I'm a bit pissed off by all this as it's made my holiday bloody pricy.

Experts seem a bit split, but most seem to think 18 months to two years, although I've seen gloomier economists (William Keegan notably) predict worse.

[Bogus Dave]

it isnt really, at this point in time its still stronger than the euro and the dollar isnt it? Just not as much as it once was

[chalkies_shorts]

Apparently 2010 they think things will start getting better again - until then its all downhill. I think we're experiencing the tremors before the earthquake so hang on to your hats its going to be a very bumpy ride.

[Bogus Dave]

Oh and i read one article somewhere that said the recession wont be as bad as people are saying, and we'll come out the other side alot better for it. Im going by what that said, and ignore everything else

[axs]

it isnt really, at this point in time its still stronger than the euro and the dollar isnt it? Just not as much as it once was

If by 'stronger' you mean one pound is worth more than one euro or dollar then you are right, but that doesn't make it stronger, it's just a nominal figure, the pound has lost a lot of ground recently, especially against the euro.

[Batch]

The pound used to be worth nearly 2 dollars. It's now worth just under $1.40. Now that's what I call devaluation.

[RobertT]

Pah, the pound was around $1.50 for years, the $2.00 dollar mark was achieved thanks to the US Treasury slashing interest rates a couple of years ago and actively trying to devalue the Dollar to boost trade knowing the shit was approaching the fan on a bullet train.

The Euro will go tits up in a month or two once the tidal wave of gloom sweeps Europe away as well.  It's a year or so down the line the real value will settle again.

It's a bit of a fucker right now though because I'm going to be using Euro's and Dollars this year.

[THE FLASH]

I was in York on Saturday night and i was turned away at 8-30pm from 3 restaurants who couldnt seat me and the old lady because they were fully booked......quickest was 9-45pm...

Eating out is a good gauge.......so things arent all that bad....IMO.

My job is still on a knife edge tho (since June)...

[ron dodgers]

Pah, the pound was around $1.50 for years, the $2.00 dollar mark was achieved thanks to the US Treasury slashing interest rates a couple of years ago and actively trying to devalue the Dollar to boost trade knowing the shit was approaching the fan on a bullet train.

The Euro will go tits up in a month or two once the tidal wave of gloom sweeps Europe away as well.  It's a year or so down the line the real value will settle again.

It's a bit of a fucker right now though because I'm going to be using Euro's and Dollars this year.

yarp - wait till they have to bail the Oirish out - Celtic Tiger - my arse - all on grants and borrowed money - bah fucking Scottish/Irish nutters

[sheepshagger]

Don't know whats wrong with you lot....

I am happy - I get paid in Dollars

[Lash_sumthin]

at risk as of 20 minutes ago

[Sippo]

Official data due later is expected to confirm the UK is in a recession

Did we not know this anyway?!!

http://news.bbc.co.uk/1/hi/business/7846266.stm