# The Economy. Well thats nothing new if you are a working man



## Hotwheels (Dec 6, 2008)

GDP falls for first time since recession
The UK economy contracted in the final three months of 2010, official figures revealed, stunning markets and reigniting fears that the recovery may yet degenerate into a double-dip recession. 


The Economy. Well thats nothing new if you are a working Man.

I dont think it would be stunning to the normal working man out their as everything is going sky wards, petrol bills tax vat have i missed anything out as yet as the government missed somthing. whoops and the 20% vat rise well what do you think.


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## justina3 (Jan 11, 2008)

as a businesses owner doesnt shock me at all, if anything times have been worse since we so called came out of recession


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## s2kpaul (Jul 27, 2006)

its a funny old world while in recession there was worries in the head while now theres worries in the pocket : ( Its deffo getting harder now with everything getting more expensive. Biggest hit for me is ultility bills and food.


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## Gruffs (Dec 10, 2007)

I think we have seen a more frugral Christmas. We made a lot of gifts this year and spent a lot less.

People have bills to pay and are prioritising again. The worst thing for a service based economy.

Talking of utilities, how many water companies are going to announce record quarterly profits whilst having the worst leakage records to date? How many electricity companies? Gas companies? Privatising the services was done with industry watchdogs to control them. It's about time they started doing so.


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## colarado red (Jun 5, 2008)

Before the recession the economy was built on public and personal borrowing,ie Debt.People are going to have to get used buying what they can afford the days of easy credit are numbered.Don't mind paying more for petrol/vat,as long as the money is going on drawing down the deficit.Not on scroungers sitting on there backsides and families with one worker on minimum wage on exorbitant tax credits,breeding like it's going out of fashion.


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## Magic Detail (Jul 25, 2010)

I don't know why there's all this talk of a "double-dip" recession from the papers etc.. we haven't come out of the first one yet!!


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## The Cueball (Feb 8, 2007)

People have to stop living on credit (debt)....

Live in what they can afford to pay cash for - regardless if they actually pay for it with cash... credit cards are fine if you know how to use them, and can afford the purchases you make...

It's the people earning £20k a year with £100k of debt that need to really sort themselves out!

:thumb:


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## Gruffs (Dec 10, 2007)

The Cueball said:


> People have to stop living on credit (debt)....
> 
> Live in what they can afford to pay cash for - regardless if they actually pay for it with cash... credit cards are fine if you know how to use them, and can afford the purchases you make...
> 
> ...


I take it that's the unsecured stuff?

Recession and economy shrinkage is going to happen. If the economy is based on spending and people are not spending then it will shrink.

And the services surplus to requirements will suffer.


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## The Cueball (Feb 8, 2007)

Gruffs said:


> I take it that's the unsecured stuff?
> 
> Recession and economy shrinkage is going to happen. If the economy is based on spending and people are not spending then it will shrink.
> 
> And the services surplus to requirements will suffer.


Well even a mortgage at those figures is a tad unrealistic IMO....

But yes, let's just go with the unsecured "I need it now" stuff...

:thumb:


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## s2kpaul (Jul 27, 2006)

i think most people need a mortgage thats my only heavy payment, andmaybe i will need a loan for a car come time. But yeah credit for holidays , parties, **** up , clothes etc is over the top.


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## Rob_Quads (Jul 17, 2006)

And with more people from the MPC saying that the interest rate should rise its only going to get more fun... would not be supprised to see 0.75% in Feb


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## justina3 (Jan 11, 2008)

Rob_Quads said:


> And with more people from the MPC saying that the interest rate should rise its only going to get more fun... would not be supprised to see 0.75% in Feb


i would be as normal rate increases seem to 0.25percent the mpc wont be meeting three times before then.


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## organgrinder (Jan 20, 2008)

Contraction of the economy has ruled out any chance of a rate rise for several months if not until the end of the year. Our inflation is imported (now that we manufacture nothing) and an increase in our interest rates will do absolutely nothing to reduce that inflation - all it would do is reduce demand further and cause more damage to our service based economy.

If we don't start making things again in this country and sell them to people in other countries our economy will head inexorably south forever more. Either that or we need to become a major tourist attraction but I don't see that happening in the scale that would be required.


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## The Cueball (Feb 8, 2007)

organgrinder said:


> If we don't start making things again in this country and sell them to people in other countries our economy will head inexorably south forever more. Either that or we need to become a major tourist attraction but I don't see that happening in the scale that would be required.


That is always my arguement...we need to start making things again... we have no pride left....we make next to nothing that we need, or can sell to the world...

I thought the whole "eco" issue would be a perfect start, and pass rules that things must be made in the UK to be sold in the UK (or EU for that matter)...

Stop being able to buy strawberries from New Zealand in December! (or where ever they come from), get us back to seasonal food, grown in the UK.

I know I am simplifying things slightly, but I'm sure you get my drift...

The moment someone said that they wanted a t-shirt made in China, and shipped halfway across the world, we were in trouble!

:thumb:


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## organgrinder (Jan 20, 2008)

I don't think we are strong enough to survive the trade war which would ensue if the UK or EU decided everything had to be made here.

However I agree that there are some golden opportunities to become world leaders in wind and tide generation. Howdens in Glasgow used to be the world leader in wind generation and after being refused Government funding to help with more R&D, they pulled the plug on the project and sold everything to the Danes who are now the world leaders. My best friend used to be an engineer with Howdens based in California maintaining the massive wind farms they had out there - he stayed out there and is now senior engineer for a drug manufacturer making BIG bucks. As he says, they respect engineers in America and they pay them accordingly. In the UK engineers are treated and paid like s***.


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