Recession my arse
- Thread starter bobk
- Start date
Timbo
Member
- Location
- Gods County
Of course they're not being realistic - they want to ease into recession, not plunge!
There is no recession , just woke financiers ejaculating , we've just come out of the biggest recession
Scholsey
Member
- Location
- Herefordshire
I’d imagine it’s already happening with a combination of zero hour contracts and a lot of people moving jobs in the last 1-2 years for a extra few quid resulting in far more straight forward redundancies.
Unemployment rises late in a recession.
Not here , vacancies everywhere ,
- Location
- Yorks
If household budgets are squeezed £3,000, maybe up to £5-6,000+ annually, then something has to give. Less cash to spend on things.
Now BoE start raising interest rates, so more mortgage pain.
Demand destruction. Factories on reduced hours = lower wages to pay the increasing living costs.
It's all energy price related. No reduction in energy prices will mean recession imho.
Which is speculator driven .
Scholsey
Member
- Location
- Herefordshire
Car parts factory near here has pretty much everyone on zero hour contracts now.
You could argue energy has been too cheap for too long and if it had ramped up or at least kept pace with where it should be over the last 30 years then we would all be in a better position. 
We've had zero inflation for 20 yearsYou could argue energy has been too cheap for too long and if it had ramped up or at least kept pace with where it should be over the last 30 years then we would all be in a better position.
glasshouse
Member
- Location
- lothians
PishYou could argue energy has been too cheap for too long and if it had ramped up or at least kept pace with where it should be over the last 30 years then we would all be in a better position.
- Location
- Yorks
It is market/speculator prices, but it doesn't alter the fact households have several thousand £££ more annual costs. Energy is such a large chunk of costs for many essential things we buy.
Most households don't have £6k spare at the end of the year. Something has to give, and at the same time mortgage rates are going up.
They'll stop spending on luxuries like holidays, and knock on effect right through the economy.
And if the crunch comes the householder defaults on the mortgage. House price crash time here we come.
Is there any way recession/crash can be stopped? Only thing I can think is cheaper energy.
glasshouse
Member
- Location
- lothians
Chancellor could slash fuel duty
Totally agree with you and food has been too cheap alsoYou could argue energy has been too cheap for too long and if it had ramped up or at least kept pace with where it should be over the last 30 years then we would all be in a better position.
4course
Member
- Location
- north yorks
I can well remember paying above 15% for money , a 0. 5% increase to a base rate of 1.75 is hardly the price of a gin and tonic /week on a borrowing of £100, 000
Fuel prices are being slashed already
I managed 24% .
- Location
- Yorks
Can he afford to?
Guess it might be cheaper than economic crash. Or extra tax on BP, but we can't tax Norwegian gas producers, or French supplied electric.
- Location
- Yorks
I know country's been in a pickle since '08, but maybe rates should've been running at 2-3% for last 15 years.I managed 24% .