Anyone seen a recession yet?

[TheBigYinJames]

Using existing legislation means going bankrupt. Do you suggest that everyone with debts does this? That will kill off the economy just the same - those people won't be able to borrow.
Not terribly up on this economy thing, are you ?

It was a joke, I had hoped you'd pick up on that without the use of a smiley.

[Gonzo]

I'm not stupid, I know these things filter through the economy and it will reach "ordinary people" in time, but so far I have seen any little real change in economic activity in any area of my life, and I won't be doing anything differently until I do.

The retailers have been having "sales" most of this year, not just the summer and winter sales of previous years.

I expect to be hearing about the pain retailers are experiencing soon.

[Cyberman]

The recession (in terms of negative growth) has only just started in the last couple of months. 2009/2010 will be the grimmest years that anyone can remember.
Anyone who thinks otherwise has their head firmly buried in the sand.
I suggest you plan for the worst.

HTH

Gordon doesn't seem to think so, otherwise he would have reduced interest rates by much more than he has. Oh wait a mo..... perhaps that's because he no longer has control since he handed those decisions to the MPC. Oh Dear, Sascretin, perhaps you are right after all.

[Bob Dalek]

Anyone seen a recession yet?

Sat next to one on the Tube.

[thunderlizard]

The lights are going out in this particular part of Bristol:
http://news.bbc.co.uk/1/hi/england/bristol/7676317.stm

[Fred Bloggs]

There's a recession here. The missus is shopping in Aldi for the first time ever.

[Tensai]

Just spent the last week in the US, it's biting here, lots and lots of people being laid off (it's much easier to get rid of employees here) including lots of middle managers, who are normally the ones spending on bigger purchases, cars and stuff.

Perhaps not immediately relevant to the UK, but if past form is anything to go by then we won't be far behind...

[HairyArsedBloke]

Well, Premier Foods is feeling the pinch.

[aussielong]

I've got to admit, there's a massive difference in Sunderland - has been noticable for the last 3 - 6 months.
Thursday and Friday nights the pubs are empty, and Saturdays are only marginally better.
Durham is exactly thr same.

So the very poor are being hit hard - spare cash which would have gone on drinking (in the North East that tends to be people's "treat" money) is now going on utilities/fuel costs/etc There's just no money left for pubs and entertainment.

There've been a few restaraunts and quite a few pubs close - scarey times.

Some good pubs in Durham. I remember The Gilesgate? Top of Gilesgate Hill. The Market Tavern. The Fighting Cocks. Rough though.

[Ivor Bigun]

I know it's big news, on the BBC news evey night, so it "must be true" but has anybody actually seen any sign of this recession yet? Personally, I mean.
.

Yep - seen loads. People I know are:
- buying / driving cheaper cars
- going on holidays less
- having less parties
- getting made redundant
- making "lifestyle" decisions - Selling and renting
- taking little jonny out of private education
- Buying second hand on Ebay

Of the people I know who have been made redundant, none have another job. a few have started temping (not in IT) on less than their permie rate.

Also, I've noticed:
- discretionary goods are cheaper - leather sofa for £400 etc
- Shops closing down
- Tradesmen easier to get hold of


I think this time, business owners are preparing for the downturn. Last time, everyone thought it was a "blip". They carried on too long and lost the lot. This time, people are shutting up shop well before and keeping their gains.

The economy is contracting - This is a recession and it will be a depression in a few years.