CREDIT CRUNCH

[lawrance]

As a former electrician I will always look down on the humble plumber.

Electrician?

I always look down at them when they try to wire a heating system and always go away crying like a baby

 

[Whitespirit66]

We have been in this position now for the past 2 to 3 years. How much longer will it last, with continuing job loses, rising prices, deteriorating services, higher taxations etc?

I think we still have a further 2 to 3 years of it

Yes, but after 2 to 3 years, what will we go back to? The last couple of booms were an illusion, built on cheap, easy debt, and the belief that houses are worth loadsamoney, and will keep on rising. Perhaps the recent past wasn't reality, and we're just getting back to where we belong.

The truth is, as a country, we are slowly but surely slipping down the economic league table, whilst still living beyond our means. Despite some cost-cutting, our debt actually increased last quarter, and Cameron is still spraying money around the world, whilst starting another unwinnable war that even the Yanks don't want to know.

More and bigger cuts are bound to follow. If we are lucky, our national economic decline will be gradual. If the Eurozone implodes, or any number of other so far unforseen economic events occurs, then our decline could accelerate quite rapidly. Even the Yanks are in danger of losing their triple A rating. That would have been unheard of a few years ago.

And, it's July, and it's raining.

 

[LooPrEvil]

It's July, and it's raining.

No change there then !

 

[EngStudent]

Anyone for a news story on the possibility of the US defaulting on debt repayments?

http://www.reuters.com/article/2011/06/08/us-usa-debt-bondholders-idUSTRE75718320110608

 

[joinerjohn]

Sod the credit crunch and tales of doom and gloom,,,, Does anyone have a good idea how to bring the country out of it? (because I'm sure no one in government knows how to)

 

[LooPrEvil]

s** the credit crunch and tales of doom and gloom,,,, Does anyone have a good idea how to bring the country out of it? (because I'm sure no one in government knows how to)

Basically we need to start again - wipe out all debts and that is it.

 

[joinerjohn]

What about the countries we owe money to? Do you think they'd just wipe off all debt? Somehow I can't see that happening.

 

[joe-90]

We can't even stop the borrowing so how can we ever pay it back? In the list of countries to go broke the UK follows Italy.

 

[LooPrEvil]

What about the countries we owe money to? Do you think they'd just wipe off all debt? Somehow I can't see that happening.

Knowing us, we are probably owed more than we owe.

Just wipe out all debt and start again. The only winners in Europe will be the likes of Greece and Portugal, but as they wont have any debt to clear, what income the country creates it keeps. Simples? !

 

[Norcon]

what income the country creates it keeps

And try to live within their means?
I'd like to see them try that as the concept is totally anathema to them.

 

[LooPrEvil]

Hey come on, lets face it the governments ideas are not working, we need to try something different, and my suggestion is the only alternative one on the table.

It can work, put the countries who shat on us will get fa from us in future, until they can demonstrate they have put their houses in order.

WIPE OUT ALL DEBT (including mine!).

 

[spacecat]

move to Norway

 

[raebhoop]

move to Norway

Then build a longship and invade Northumbria...

 

[SALL2009]

I'm not a plumber but very similar. Aren't you a soap dodger with little chance of meaningfull employment and large debts when you get out of uni?

Let me guess - gas fitter?

Getting closer. Nothing wrong with studying at uni if it leads to a good career but don't look down on the humble plumber, it's a very technical and well paid job.

What a hypocritical comment, after you talk down about a carrer that you feel is below yours.

 

[LooPrEvil]

move to Norway

Then build a longship and invade Northumbria...

He is not capable of building relationships!