Recession & Credit Crunch for Dummies (Like me)
Discussion
Okay, as a 19 year old Receptionist without a car I haven't got a bloody clue what these terms mean, or how they affect the day-to-day lives of individuals.
All I hear however is the boss shouting at our sales team about "going into deep, deep recession", and job applicants saying they were laid off their previous job due to "the credit crunch".
What on God's not-so-green earth is everyone harping on about?
All I hear however is the boss shouting at our sales team about "going into deep, deep recession", and job applicants saying they were laid off their previous job due to "the credit crunch".
What on God's not-so-green earth is everyone harping on about?
o.versteer said:
Heskey said:
What on God's not-so-green earth is everyone harping on about?
Stuff they hear on the news, read in the paper, and generally hear about by paying attention to the world around them and how events in that world may affect them. You should try it. But reading the news just tells me it's happening and getting worse, doesn't actually tell me what it is.
Not from me you won't mate :PWe're all going to die in a financial black hole, caused by banks lending irresponsibly, oil prices skyrocketing and the media scaremongering, as a result everyone is being cautious with their money and not spending as much as would have been expected, so tax takes are down and the worlds economies are slowing down.
So if you want to do your bit to get the economy going again, then spend some money. All the other stuff, we can't do a thing about.
So if you want to do your bit to get the economy going again, then spend some money. All the other stuff, we can't do a thing about.
Heskey said:
LaSarthe+Back said:
Chilli said:
Justayellowbadge said:
Receptionist?
Ghey.
With no car?Ghey.
gif credited to NickyBoy
Chilli said:
Heskey said:
LaSarthe+Back said:
Chilli said:
Justayellowbadge said:
Receptionist?
Ghey.
With no car?Ghey.
gif credited to NickyBoy
Got to be an alternative to the loser cruiser.
Simple enough really.
You have grown up accepting and seeing all around you, lots of people having nice cars , buying plasma TV's, running up big credit card bills.
On the Tellybox, Sarah Beeny has persuaded everyone that by watching Property Ladder , house prices will always go up and it is easy to make a fortune by borrowing a lot of money and getting involved in property.
All this borrowing and spending - buying things people do not need with money they do not have - has been especially bad in the USA and the UK.
Too many people have borrowed too much money and now the banks realise that a lot of people cannot pay it back. This means that the banks have stopped lending money - this is the CREDIT CRUNCH.
It means that if the banks go bust, ordinary people all over the world cannot get credit. It means that if this happens the company YOU work for, could go bust as well and you would lose your job.
All the media guff about bankers and bonuses is irrelevant really. What matters is that if the banks go bust, lots of people lose their jobs and everything turns to crap.
This is why the Gubberment are trying to stop the banks going bust, by giving them a lot of money. It is ironic that this is the same Labour government who changed the rules to allow the banks to get into this trouble, and it is the same Labour government which actively encouraged people to get into debt because they wanted the taxes from the growing economy to pay for the Iraq war, build some rubbish buildings, hire thousands of pointless civil servants etc etc.
HTH
TS
You have grown up accepting and seeing all around you, lots of people having nice cars , buying plasma TV's, running up big credit card bills.
On the Tellybox, Sarah Beeny has persuaded everyone that by watching Property Ladder , house prices will always go up and it is easy to make a fortune by borrowing a lot of money and getting involved in property.
All this borrowing and spending - buying things people do not need with money they do not have - has been especially bad in the USA and the UK.
Too many people have borrowed too much money and now the banks realise that a lot of people cannot pay it back. This means that the banks have stopped lending money - this is the CREDIT CRUNCH.
It means that if the banks go bust, ordinary people all over the world cannot get credit. It means that if this happens the company YOU work for, could go bust as well and you would lose your job.
All the media guff about bankers and bonuses is irrelevant really. What matters is that if the banks go bust, lots of people lose their jobs and everything turns to crap.
This is why the Gubberment are trying to stop the banks going bust, by giving them a lot of money. It is ironic that this is the same Labour government who changed the rules to allow the banks to get into this trouble, and it is the same Labour government which actively encouraged people to get into debt because they wanted the taxes from the growing economy to pay for the Iraq war, build some rubbish buildings, hire thousands of pointless civil servants etc etc.
HTH
TS
Joking aside, take ten minutes to plough through this : http://news.bbc.co.uk/2/hi/business/7521250.stm
toppstuff said:
Too many people have borrowed too much money and now the banks realise that a lot of people cannot pay it back. This means that the banks have stopped lending money - this is the CREDIT CRUNCH.
It means that if the banks go bust, ordinary people all over the world cannot get credit. It means that if this happens the company YOU work for, could go bust as well and you would lose your job.
That's quite a good response, cheers!It means that if the banks go bust, ordinary people all over the world cannot get credit. It means that if this happens the company YOU work for, could go bust as well and you would lose your job.
toppstuff said:
Simple enough really.
You have grown up accepting and seeing all around you, lots of people having nice cars , buying plasma TV's, running up big credit card bills.
On the Tellybox, Sarah Beeny has persuaded everyone that by watching Property Ladder , house prices will always go up and it is easy to make a fortune by borrowing a lot of money and getting involved in property.
All this borrowing and spending - buying things people do not need with money they do not have - has been especially bad in the USA and the UK.
Too many people have borrowed too much money and now the banks realise that a lot of people cannot pay it back. This means that the banks have stopped lending money - this is the CREDIT CRUNCH.
It means that if the banks go bust, ordinary people all over the world cannot get credit. It means that if this happens the company YOU work for, could go bust as well and you would lose your job.
All the media guff about bankers and bonuses is irrelevant really. What matters is that if the banks go bust, lots of people lose their jobs and everything turns to crap.
This is why the Gubberment are trying to stop the banks going bust, by giving them a lot of money. It is ironic that this is the same Labour government who changed the rules to allow the banks to get into this trouble, and it is the same Labour government which actively encouraged people to get into debt because they wanted the taxes from the growing economy to pay for the Iraq war, build some rubbish buildings, hire thousands of pointless civil servants etc etc.
HTH
TS
Was it also the left wing Clinton government in the US that eased restrictions on credit for mortgages for the less well off to buy their homes, knowing that there was a very good chance that many would default?You have grown up accepting and seeing all around you, lots of people having nice cars , buying plasma TV's, running up big credit card bills.
On the Tellybox, Sarah Beeny has persuaded everyone that by watching Property Ladder , house prices will always go up and it is easy to make a fortune by borrowing a lot of money and getting involved in property.
All this borrowing and spending - buying things people do not need with money they do not have - has been especially bad in the USA and the UK.
Too many people have borrowed too much money and now the banks realise that a lot of people cannot pay it back. This means that the banks have stopped lending money - this is the CREDIT CRUNCH.
It means that if the banks go bust, ordinary people all over the world cannot get credit. It means that if this happens the company YOU work for, could go bust as well and you would lose your job.
All the media guff about bankers and bonuses is irrelevant really. What matters is that if the banks go bust, lots of people lose their jobs and everything turns to crap.
This is why the Gubberment are trying to stop the banks going bust, by giving them a lot of money. It is ironic that this is the same Labour government who changed the rules to allow the banks to get into this trouble, and it is the same Labour government which actively encouraged people to get into debt because they wanted the taxes from the growing economy to pay for the Iraq war, build some rubbish buildings, hire thousands of pointless civil servants etc etc.
HTH
TS
Gassing Station | The Pie & Piston Archive | Top of Page | What's New | My Stuff