It's BAD, it's STILL very bad REPRISE thread (13 months on)
Discussion
musclecarmad said:
It is actually still bad - a lot of my mates and people i know are unemployed and these are supposedly bright people.
it's hard to get a job at the moment.
things are getting worse.
Mate, you just can't generalise like that, I am finding there is more work now than any other time I can recall. It depends entirely on what field you're in. Rail is on hold while the DfT make up their mind what to run with based on what the Govt will give them, some big projects are still going ahead. HiTech seems to be gathering momentum and the smart companies are diversifying and local tourism is benefitting from the overall downturn. I have 3 second interviews coming up, one in specialist coatings, one in DNA fluid handling and the other with Unipart Rail. it's hard to get a job at the moment.
things are getting worse.
musclecarmad said:
The real Apache said:
What sectors are your mates finding it hard in?
hmm, well one girl I know is struggling in law (in fact I work a lot in this field) and law is quite tough at the moment.one is a pilot (well, a trained pilot that can't get a job)
the other one has graduated with a spanish degree and she is just wasting away but I have no idea what she wants to do - nor does she which is half the problem!
Unfortunately, the number of graduate law students now massively exceeds actual positions or requirements. One of my good friends has just graduated with a 2:1 and cannot find work anywhere as he is just one of the fish in a very small sea. He went to a "younger" (read ex-poly) university with hope of getting a job in London but no employer is interested.
Having said that, I know that this year students from Oxbridge and the red-bricks have not had a lot of trouble finding training contracts. They can afford to pick and choose the best as always - the only difference is that the people who don't get a magic circle job have to fight in a pool that in 3x bigger than in the 90's and there just aren't the jobs to go around.
Airline pilots I can't comment on as I have no experience in the sector but I'm sure there are folks on PH who have and will.
The third person you talk about sounds like she took a degree with no idea of what she wanted to do afterwards. I think this is a problem nowadays - back in the day people went to uni with an idea of their career and studied a specific degree to get there. Now, uni seems to be a default choice for anyone who has done A-levels. If I had kids of university age I would tell them that unless they actively "want" to go to uni and have that experience, then they might as well just try to get a job after A-levels.
Only thing worth doing is a vocational degree or one that will assist you to get a career you have in mind imho.
Fittster said:
WhoseGeneration said:
Fittster said:
I'd bet on the Greeks, they will default. In the long term that's the smart move.
Because it would be better to be the first?Or, having a small population, they might feel that the EU would be more prepared to support them?
I suppose, sun, olives and feta is better than damp, potatoes and Kerrygold, though.
Would be for me anyway.
Then, for either, could lead to much emigration of the young, providing further problems.
“This tragedy does not have a solution,” said Hans-Werner Sinn, head of the prestigious IFO Institute in Munich.
“The policy of forced 'internal devaluation', deflation, and depression could risk driving Greece to the edge of a civil war. It is impossible to cut wages and prices by 30pc without major riots,” he said, speaking at the elite European House Ambrosetti forum at Lake Como.
“Greece would have been bankrupt without the rescue measures. All the alternatives are terrible but the least terrible is for the country to get out of the eurozone, even if this kills the Greek banks,” he said.
Dr Sinn said Greece is an entirely different case from Spain and Portugal, which still have manageable public debts and can bring their public finances back into line with higher taxes.
“Greece would have defaulted in the period between April 28 and May 7, had the money not been promised by the European Union,” he said, describing the failure of the EU’s bail-out strategy to include a haircut for the banks as an invitation to moral hazard.
“There should be a quasi-insolvency procedure for countries. Creditors have to accept a haircut before any money flows for rescue plans, otherwise we’ll never have debt discipline in the eurozone,” he said.
Fittster said:
thinfourth2 said:
Well i still haven't eaten the pets and i'm still not living in the street as predicted by the doom merchants
Paying more tax? Well when in the history of the universe has anyone ever paid less taxHigh inflation? Hasn't gone silly yet but if it does my mortgage goes down in real terms
Property Prices down? a house can be a home not just an investment
About to have less public services? Living in the middle of nowhere where i have to maintain my own road provide my own water and own sewage systems and i get the bin emptied once a fortnight from the end of the road half a mile away i don't think i will notice a lack of outreach equality managers
thinfourth2 said:
About to have less public services? Living in the middle of nowhere where i have to maintain my own road provide my own water and own sewage systems and i get the bin emptied once a fortnight from the end of the road half a mile away i don't think i will notice a lack of outreach equality managers
Hardly a common situation for many...Bing o said:
thinfourth2 said:
About to have less public services? Living in the middle of nowhere where i have to maintain my own road provide my own water and own sewage systems and i get the bin emptied once a fortnight from the end of the road half a mile away i don't think i will notice a lack of outreach equality managers
Hardly a common situation for many...thinfourth2 said:
Bing o said:
thinfourth2 said:
About to have less public services? Living in the middle of nowhere where i have to maintain my own road provide my own water and own sewage systems and i get the bin emptied once a fortnight from the end of the road half a mile away i don't think i will notice a lack of outreach equality managers
Hardly a common situation for many...Fittster said:
Greece’s austerity measures cannot prevent default and will lead to a breakdown of the political order if continued for long, a leading German economist has warned.
“This tragedy does not have a solution,” said Hans-Werner Sinn, head of the prestigious IFO Institute in Munich.
“The policy of forced 'internal devaluation', deflation, and depression could risk driving Greece to the edge of a civil war. It is impossible to cut wages and prices by 30pc without major riots,” he said, speaking at the elite European House Ambrosetti forum at Lake Como.
“Greece would have been bankrupt without the rescue measures. All the alternatives are terrible but the least terrible is for the country to get out of the eurozone, even if this kills the Greek banks,” he said.
Dr Sinn said Greece is an entirely different case from Spain and Portugal, which still have manageable public debts and can bring their public finances back into line with higher taxes.
“Greece would have defaulted in the period between April 28 and May 7, had the money not been promised by the European Union,” he said, describing the failure of the EU’s bail-out strategy to include a haircut for the banks as an invitation to moral hazard.
“There should be a quasi-insolvency procedure for countries. Creditors have to accept a haircut before any money flows for rescue plans, otherwise we’ll never have debt discipline in the eurozone,” he said.
Yes, I saw this.“This tragedy does not have a solution,” said Hans-Werner Sinn, head of the prestigious IFO Institute in Munich.
“The policy of forced 'internal devaluation', deflation, and depression could risk driving Greece to the edge of a civil war. It is impossible to cut wages and prices by 30pc without major riots,” he said, speaking at the elite European House Ambrosetti forum at Lake Como.
“Greece would have been bankrupt without the rescue measures. All the alternatives are terrible but the least terrible is for the country to get out of the eurozone, even if this kills the Greek banks,” he said.
Dr Sinn said Greece is an entirely different case from Spain and Portugal, which still have manageable public debts and can bring their public finances back into line with higher taxes.
“Greece would have defaulted in the period between April 28 and May 7, had the money not been promised by the European Union,” he said, describing the failure of the EU’s bail-out strategy to include a haircut for the banks as an invitation to moral hazard.
“There should be a quasi-insolvency procedure for countries. Creditors have to accept a haircut before any money flows for rescue plans, otherwise we’ll never have debt discipline in the eurozone,” he said.
Hard to know why anyone is saying that which they do about this, theory or interest.
Some suggest the current operation is to support some banks.
Then there is the, perhaps, more important political element.
If one Eurozone country should, or would be allowed to, disengage from that, what does that mean for the purpose behind the Euro?
However, there might come a time when the German taxpayers cry "Enough" and some of their politicians decide to respond.
"Interesting times".
turbobloke said:
Did I hear right? More people found work in the last quarter - 256,000 was the figure I thought I just heard - than in comparable periods since records began?
Apparently that is accounted for by students no longer being scum and getting part time jobs.ONS reports a rise in jobless claims over the same period: http://www.statistics.gov.uk/pdfdir/lmsuk0910.pdf
Working on the traditional assumption that students are not a meaningful element of the real society this looks a bit of a blip.
http://www.telegraph.co.uk/finance/economics/80153...
UK borrowing jumps to record high as inflation pushes up interest payments
However I believe money can be saved by scrapping the entire military. Just replace them with a few pensioners with clean white hankies
UK borrowing jumps to record high as inflation pushes up interest payments
telegraph said:
Net borrowing came in at £15.3bn, a highest for the month of August since records began in 1993, the Office for National Statistics said on Tuesday. Analysts had forecast a Public Sector Net Borrowing (PSNB) of £12.51bn.
"It's worrying that ... higher spending has more than offset higher VAT receipts," said Hetal Mehta, of Daiwa.
The government's preferred measure on which fiscal forecasts are based, PSNB excluding bank rescues, came in above forecasts at £15.9bn.
The ONS said the deterioration in the public finances was mainly due to higher interest payments on gilts, as a result of the rise in the retail price index.
Interest payments were £3.8bn in August compared with £1.3bn a year ago.
£3.8bn in a month on interest "It's worrying that ... higher spending has more than offset higher VAT receipts," said Hetal Mehta, of Daiwa.
The government's preferred measure on which fiscal forecasts are based, PSNB excluding bank rescues, came in above forecasts at £15.9bn.
The ONS said the deterioration in the public finances was mainly due to higher interest payments on gilts, as a result of the rise in the retail price index.
Interest payments were £3.8bn in August compared with £1.3bn a year ago.
However I believe money can be saved by scrapping the entire military. Just replace them with a few pensioners with clean white hankies
loafer123 said:
RichardD said:
However I believe money can be saved by scrapping the entire military. Just replace them with a few pensioners with clean white hankies
Works for the French.Plus, every beret would have to have a bobble attached to the top, that can't be cheap.
We would save on soap though.
NoelWatson said:
Scary. Let's hope someone in the BoE (not Mr Bean) doesn't make the same mistake.fido said:
NoelWatson said:
Scary. Let's hope someone in the BoE (not Mr Bean) doesn't make the same mistake.The BOE is already following a similar policy.
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