I just looked out of the window…

[NotAllThere]

I don't look out of the window in the morning. It would leave me with nothing to do in the afternoon.

[PM-Junkie]

I looked out of the window earlier and it was snowing, so clearly this recession thing is a figment of everyone's imagination...

[lilelvis2000]

This morning’s news started with reports on how bad the traffic was, and the train I was on was packed beyond capacity, with people packed in like sardines in a tin.

Sardines are better off as they each get a seat.

BTW: next door builder just packed up - bailiffs were in taking their goods.

He had some decent desks and PC's...I mentioned he should have let us put an offer in..I'm always looking for older PC's and desks. oh well

[BrilloPad]

I beg to disagree. There are indeed many people who are indebted up to their eyeballs. There are many others who aren’t, like me. However, I paid for my new kitchen by selling some government bonds, even though I wanted to borrow for a short time (which is fiscally more attractive in NL) and let the bonds mature, simply because the banks wouldn’t lend to self employed people, even though I have a good credit record. Many healthy businesses with good credit records are now unable to borrow to make investments. That’s my point; if banks actually start looking at the individual customer instead of just the economic figures, they’ll find plenty of good investment opportunities and the flow of credit can recover to a sensible level.

Not many will want to borrow now. In fact those with jobs will try to repay debt in case things get worse.

And in the above you said "if banks" - that is a big if.

[SantaClaus]

I agree with Brillo.

The effects of the withdrawal of credit have yet to be felt.

[Mich the Tester]

To do this activity people need money. most of it is borrowed. once they cannot borrow any more then the chickens will come home to roost.

I beg to disagree. There are indeed many people who are indebted up to their eyeballs. There are many others who aren’t, like me. However, I paid for my new kitchen by selling some government bonds, even though I wanted to borrow for a short time (which is fiscally more attractive in NL) and let the bonds mature, simply because the banks wouldn’t lend to self employed people, even though I have a good credit record. Many healthy businesses with good credit records are now unable to borrow to make investments. That’s my point; if banks actually start looking at the individual customer instead of just the economic figures, they’ll find plenty of good investment opportunities and the flow of credit can recover to a sensible level.

[BrilloPad]

…and I saw trucks delivering stuff to the shops, cars rushing about, people rushing from one office to the other to get to their appointments and some guys repairing the footpath.

This morning’s news started with reports on how bad the traffic was, and the train I was on was packed beyond capacity, with people packed in like sardines in a tin.

So it seems to be that the economy is actually trying to work and people have enough to do (or post on CUK as the case may be). If only the bankers and the financial traders were to see this.

Methinks that the first bank that dares to advertise saying ‘we DO provide business credit, we WILL give you a mortgage under reasonable conditions and we WILL allow you to run an overdraft if your payment record’s OK’ will have the chance to completely overrun its competitors and take over the market. Is it me or are they missing a big opportunity?

To do this activity people need money. most of it is borrowed. once they cannot borrow any more then the chickens will come home to roost.

[Mich the Tester]

Yes it's just like the tail end of 1989 ....or more likely 1929.

Irrational exuberance followed by irrational pessimism. Really, the banks have this in their own hands. The first one to show some enterprise will do well.

[sasguru]

Yes it's just like the tail end of 1989 ....or more likely 1929.

[Mich the Tester]

…and I saw trucks delivering stuff to the shops, cars rushing about, people rushing from one office to the other to get to their appointments and some guys repairing the footpath.

This morning’s news started with reports on how bad the traffic was, and the train I was on was packed beyond capacity, with people packed in like sardines in a tin.

So it seems to be that the economy is actually trying to work and people have enough to do (or post on CUK as the case may be). If only the bankers and the financial traders were to see this.

Methinks that the first bank that dares to advertise saying ‘we DO provide business credit, we WILL give you a mortgage under reasonable conditions and we WILL allow you to run an overdraft if your payment record’s OK’ will have the chance to completely overrun its competitors and take over the market. Is it me or are they missing a big opportunity?