Reply to: Market Must be at Rock Bottom ( or thereabouts )

[Scary]

Never ever listen to politicians at anytime on anything to do with anything, not only are they generally last to find out but even then generally get it wrong

[BolshieBastard]

Market may be picking up. Bank of America are starting to take back contractors who've worked for them previously.

Anyone with Vision + experience looking for work in the north?

[nomadd]

Never ever listen to politicians at anytime on anything to do with the economy, not only are they generally last to find out but even then generally get it wrong

I listened to Labour when they said they'd introduce IR35. They did just that.

Me voting against them for 30 years hasn't helped much.

Nomadd

[Not So Wise]

Well to me sentiment seems split i.e. depends who you listen to.

I know Harriet Harman thinks its over, Alaister Darling doesn't seem so convinced. Time will have to be the judge.

Never ever listen to politicians at anytime on anything to do with the economy, not only are they generally last to find out but even then generally get it wrong

[Green Mango]

What has last quarters figures got to do with what I said?

Been feeling the recession will be technically over by end of year/1st quarter of next year

Sentiment defiantly did change last quarter, hence analysts with egg's on the faces, because they jumped the gun, takes time for sentiment to be reflected in the facts/figures

Well to me sentiment seems split i.e. depends who you listen to.

I know Harriet Harman thinks its over, Alaister Darling doesn't seem so convinced. Time will have to be the judge.

[Not So Wise]

Last Friday there was egg on the faces of the analysts. The ONS stats say economy contracted by 0.8% of GDP in second quarter so not sure were you are coming from ?

What has last quarters figures got to do with what I said?

Been feeling the recession will be technically over by end of year/1st quarter of next year

Sentiment defiantly did change last quarter, hence analysts with egg's on the faces, because they jumped the gun, takes time for sentiment to be reflected in the facts/figures

[Green Mango]

Been feeling the recession will be technically over by end of year/1st quarter of next year. (aka end of negative growth).

Main reason for this is general sentiment is that bottom was reached at end of Q01-09/start of Q02-09 and just like the boom the main reason for the crash had more to do perceptions than reality (if it had been based on reality world would have spent last decade in recession)

Stock market should feel the turn around first (already has but think there will be some more dips before end of year) and then a few months later us contractors will feel the upturn, some after Jan, majority when new budgets come out in Apr

General unemployment will continue to rise until after election and god help us all when the bill for all the bailouts arrives sometime after that, start planning now to minimize your tax obligations because it will be people like us that will be hardest hit

Last Friday there was egg on the faces of the analysts. The ONS stats say economy contracted by 0.8% of GDP in second quarter so not sure were you are coming from ?

[Green Mango]

I am finding the market pretty positive after a very quiet first half of the year. After a couple of months benched Jan & Feb, been working in a contract that has been extended till end of year. I have been called and had interviews for 7 jobs and offered 3 (one of which I accepted as it is a year contract and an extra £200 a day on my current Contract.

Llioyds are doing something as they have lots of roles and the investment banks seem to be starting up and hiring again - definatly more action out there which has got to be a good thing - I feel for you benched contractors out there.

Bank flooded with our cash so no real suprise that things are looking good. Engineering is looking pretty quiet at the moment. I can't see much out there.

[Not So Wise]

Been feeling the recession will be technically over by end of year/1st quarter of next year. (aka end of negative growth).

Main reason for this is general sentiment is that bottom was reached at end of Q01-09/start of Q02-09 and just like the boom the main reason for the crash had more to do perceptions than reality (if it had been based on reality world would have spent last decade in recession)

Stock market should feel the turn around first (already has but think there will be some more dips before end of year) and then a few months later us contractors will feel the upturn, some after Jan, majority when new budgets come out in Apr

General unemployment will continue to rise until after election and god help us all when the bill for all the bailouts arrives sometime after that, start planning now to minimize your tax obligations because it will be people like us that will be hardest hit

[weemster]

Exactly.

It seems there are only two major contract markets in the UK at the moment: Investment Banking and Government. After the election is out of the way, I think we can say goodbye to most of those Government contracts. Which just leaves Investment Banking, and I wouldn't like to be betting on where that is heading over the next few years...

Nomadd

At the end of the day I reckon the current state of affairs will trim down the amount of contractors in the game which isn't a bad thing and that coupled with getting rid of Brown Stuff will kick start businesss in the Uk, Ok we are stuck with him for a bit longer but the longer he is there, the more he is screwing it up and I think thats good news, as it will ensure the tories will get in and fill
up the cash pot AGAIN !!

Yes a real p*ss*r we are all struggling but things will take a turn for the better. The real issue is how long it will take.

[nomadd]

The jury is still out. There may be some fragile green shoots, but this is when we are pumping in 125 billion of QE as you say when we are no longer pumping in billions in QE, have to make cuts from 2010 and quite possibly the cost of all credit increases. What then ?

Exactly.

It seems there are only two major contract markets in the UK at the moment: Investment Banking and Government. After the election is out of the way, I think we can say goodbye to most of those Government contracts. Which just leaves Investment Banking, and I wouldn't like to be betting on where that is heading over the next few years...

Nomadd

[Green Mango]

its a tough one - the recovery is going to be number manipulated especially in the UK as we get closer to the election. We have a fundamental issue in that we have no clear strategy on how to reduce the public debt, how to reduce public spending and how to dispose of the bank shares we have.

The jury is still out. There may be some fragile green shoots, but this is when we are pumping in 125 billion of QE as you say when we are no longer pumping in billions in QE, have to make cuts from 2010 and quite possibly the cost of all credit increases. What then ?

[SneakySimon]

Picking uP

Removed

[Liability]

Would these be the same American financial news experts that reckoned getting into the subprime mortgage market was a no brainer.

its a tough one - the recovery is going to be number manipulated especially in the UK as we get closer to the election. We have a fundamental issue in that we have no clear strategy on how to reduce the public debt, how to reduce public spending and how to dispose of the bank shares we have.

[Green Mango]

Been watching American financial news morning program, seems everyone is optimistic and confident that the recession is winding down now, they predicted that we’ll see a growth in the first quarter of 2010, everyone is doing a cautious happy dance . I gather that for contractors, this means more work/rates during the second quarter of next year.

Would these be the same American financial news experts that reckoned getting into the subprime mortgage market was a no brainer.