The Economy

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The Economy; Are you feeling it?
Tweet Topic Started: Jul 26 2012, 07:18 AM (372 Views)
whatsthatonyourback	Jul 26 2012, 07:18 AM Post #1
Waldo Jeffers Posts: 4,443 Group: Members Member #3 Joined: September 10, 2010	Pretty desperate GDP figures yesterday with a 0.7% drop. We've had four years of bad news, but the world hasn't ended and there doesn't seem to be lots more homeless or civil disorder due to poverty and cuts to services. Have you been affected? Do you know people who are really struggling and are just hanging on until things get better? What if things don't get better - will people start defaulting on loans, have their houses repossessed, declare bankruptcy? Or have people just stopped buying all the frivolous shit they did previously, with no real reduction in their living standards?



Setenza	Jul 26 2012, 11:38 AM Post #2
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	Seems to be a lot of people waiting - not moving house or making big spends, but in general it's not catestrophic. Then again, interest rates are very very low and mortgage rates are starting to creep upwards, so the pain may be arriving in the coming year afterall. With no election for a couple of years, there should be plenty of time and a decent amount of time for government to get their plan working. Short term pain for longer term benefit was everyone's plan, so we'll see where we're at in 2014. But unless the euro goes pop or other major incident, I think we'll carry on fine.


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