More doom ....

[denver2k]

More doom predicted before a slow fragile recovery.

"We face another 12 to 18 months of serious grief. Around 900,000 jobs will be lost this year and half a million next"

 

[alreadypacked]

More doom predicted before a slow fragile recovery.

"We face another 12 to 18 months of serious grief. Around 900,000 jobs will be lost this year and half a million next"

This is what I have said since November last year. Anyone who thinks any different just has not been impacted yet. "The Great Depression" took three years to hit bottom, then people borrowed money to buy share that turned out to be worth a lot less than they paid. This time people borrowed money to buy houses that turned out to be worth a lot less than they paid.

 

[suityou01]

This is what I have said since November last year. Anyone who thinks any different just has not been impacted yet. "The Great Depression" took three years to hit bottom, then people borrowed money to buy share that turned out to be worth a lot less than they paid. This time people borrowed money to buy houses that turned out to be worth a lot less than they paid.

Is that the short or long term view?

 

[Mich the Tester]

This time people borrowed money to buy houses that turned out to be worth a lot less than they paid.

They should have drunk their money away instead. As much as a great burgundy can ruin your bank account, the bailiffs can't take it back once you've drunk it.

 

[PM-Junkie]

This is what I have said since November last year. Anyone who thinks any different just has not been impacted yet. "The Great Depression" took three years to hit bottom, then people borrowed money to buy share that turned out to be worth a lot less than they paid. This time people borrowed money to buy houses that turned out to be worth a lot less than they paid.

And anyone who thinks that everyone is going to be impacted simply doesn't understand economics. There are and there will be sectors that do ok, and some that do very well. Typical example, I have a friend who basically makes sweets (chocolates...she actually calls herself a "chocolateer"!). She says she has never been busier because people now treat themselves to her products and use them as a "pick-me-up".

I wish I could do it as a plan C (already have a plan B). Problem is, I would eat all my stock

 

[BrilloPad]

And anyone who thinks that everyone is going to be impacted simply doesn't understand economics. There are and there will be sectors that do ok, and some that do very well. Typical example, I have a friend who basically makes sweets (chocolates...she actually calls herself a "chocolateer"!). She says she has never been busier because people now treat themselves to her products and use them as a "pick-me-up".

I wish I could do it as a plan C (already have a plan B). Problem is, I would eat all my stock

I believe baliffs are also doing well.

 

[alreadypacked]

And anyone who thinks that everyone is going to be impacted simply doesn't understand economics. There are and there will be sectors that do ok, and some that do very well.

What I mean is there are some people that are yet to be impacted, not everyone will be, but more will be. We are not at the bottom yet.

 

[denver2k]

She says she has never been busier because people now treat themselves to her products and use them as a "pick-me-up".

Is it because ppl dont have enough money to buy chocolates from Thorntons etc, they buy cheap chocolates from your friend's place (thus more sales).

 

[TimberWolf]

If it's handled right, everyone will be affected. Saver, borrowers, rich and poor. All except the banks of course, who will do very nicely and are probably raking it in already.

 

[PM-Junkie]

Is it because ppl dont have enough money to buy chocolates from Thorntons etc, they buy cheap chocolates from your friend's place (thus more sales).

Undoubtedly. She is cheaper than Thorntons, but then she doesn't have the overheads they do. And I would actually take her stuff over Thorntons anyway - some of her stuff is virtually a work of art.

.....right up to the point it gets stuffed in someone's mouth that is. Then it tends to lose it's aesthetic appeal

Actually you make a very interesting point.....it will be interesting to see if a company like Thorntons survives this part of the economic cycle.