Is the credit crunch actually affecting us Sheffield folk?

[snail 10]

Is it effecting you or people u know?

are you cutting back on the Christmas presents this year?

R you worried about your job?

Im asking this because after watching the news,it really does leave me scared, touch wood it hasn't effected my job.........yet

i am spending less this year on Christmas because of the news reports,and keeping the cash for the what may come

but it hasn't actually effected me yet, am i just lucky or do you feel the news is scaremongering and things arnt quite as bad as reported?

just wanted to know how others in Sheffield are feeling about the matter

 

Seasons greetings:)

[salmonbones 17]

Certainly not scaremongering - its happening. I'm not directly affected yet, but I can see the next 3 months will see me breathe a sigh of relief, or..................well, don't want to go there!

[PuressenceUK 10]

Is it effecting you or people u know?

are you cutting back on the Christmas presents this year?

R you worried about your job?

Im asking this because after watching the news,it really does leave me scared, touch wood it hasn't effected my job.........yet

i am spending less this year on Christmas because of the news reports,and keeping the cash for the what may come

but it hasn't actually effected me yet, am i just lucky or do you feel the news is scaremongering and things arnt quite as bad as reported?

just wanted to know how others in Sheffield are feeling about the matter

 

Seasons greetings:)

 

Yes I know people who have been made redundant in the area, and plenty more under threat. Anyone who thinks this problem is not affecting South Yorkshire is clearly a muppet.

[salmonbones 17]

Yes I know people who have been made redundant in the area, and plenty more under threat. Anyone who thinks this problem is not affecting South Yorkshire is clearly a muppet.

 

That's not nice! Not everyone reads the paper, or listens to the news - local or national.

 

Some people may be in blissful ignorance, not knowing anyone who has been affected yet.

[snail 10]

Yes I know people who have been made redundant in the area, and plenty more under threat. Anyone who thinks this problem is not affecting South Yorkshire is clearly a muppet.

 

I never said i didn't think it was a problem

think the muppet comment was abit ott

 

i just wanted to hear other peoples personal stories, as i say the news is frightening me,just because im lucky.....right now

doesn't mean it wont effect me soon and if i know its effecting others around me,at least i know what sort of thing to be expecting

[Digsy 10]

Nah wer ard as nailz uz lot up ere.

Not lyk dem suthern panzis.

 

I can see a whole load more redundancies before it trickles to a halt and then picks up again.

Sheffield survived the closure of the steel firms, and then the mines, the old folk are probably sat back smiling because they've seen it all before.

[scottf 21]

Not really affected me yet, Hopefully secure in my job, petrol prices coming down, prices in shops generally reducing.

 

It has affected people i know though so i hope the employment markets pick up soon!

[L00b 441]

i am spending less this year on Christmas because of the news reports,and keeping the cash for the what may come

 

Don't you realise that's a self-fulfilling prophecy?

 

Crash = banks only (originally)

Then less and less cash changes hands because everyone starts watching their backs = crisis worsens (consequence)

Then still less cash in circulation to finance inventories = stocks piling up and increasingly heavily discounted = crisis worsens further (consequence)

Then still less and less cash changes hands because everyone watches their backs more and more = crisis worsens still further (consequence)

...and go round again.

 

So long as people don't spend, fresh cash does not get injected in 'the system' to keep the 'system' going round (this be the 'system' which gives people jobs and pays them).

 

I'm not saying the 'system' does not need fixing in the first place, or saying people should just go and spend every last penny ASAP ...but I believe consumer over-cautiousness is what's currently still fuelling the downward spiral (I'm not in retail at all, btw).

 

Seasons greetings to you too

[haddockman 10]

I'm being careful this year, only getting close family things! Not getting the OH anything, but hopefully having a few days out instead in Jan/Feb

[crookesey 635]

Job losses will come from the financial services, manufacturing and retail sectors.

 

As the financial services sector is a minor Sheffield employer job losses won't bite here to the degree that they will in London, Manchester, Leeds and Edinburgh.

 

Manufacturing industry in Sheffield had been decimated long before we heard of 'Sub Prime Lending' or 'The Credit Crunch'.

 

I fear for the retail/service sector, but there are still circa 60,000 students to house, feed, water and entertain. M&S's shares were down nearly 6% this morning, it can only be a matter of time before they start to axe their less profitable units.

 

If you are hocked up in mortgage debt, credit card debt and other types of finance whilst sitting on negative equity, with no hope of switching your debts, as was the norm in the past, then the 'Credit Crunch' is about to land directly on you.

 

20 years ago the wife and I would have been prime contenders to be 'Credit Crunch' victims. But with age came common sense, we have long taken the view that if we haven't got the money for something then we wait until we have. Out of all the impending misery will (prey god) come a more sensible and less greedy society, where want is replaced by need.

 

Seasons greetings to all.

[L00b 441]

Job losses will come from the financial services, manufacturing and retail sectors.

 

I wouldn't exclude Civil Service from your list, which is quite heavy in Sheffield. There's a lot of fat to trim, and the Gvt has spent with abandon to bail the banks out, to levels which it can't possibly sustain without hefty tax increases in due course. The question is when, the deal clincher is where to trim to keep the 'heft' down.

 

Very much echoing your wishes about what type of society should wishfully come out of this difficult time.

 

We've not waited 20 years with the Missus. I saw this coming 5 or so years ago, when the 'free credit' offers and mortgage lending criteria were just getting entirely out of hand, and we've prepared adequately.

 

I don't believe we're being selfish when we think that we would be gutted to see the Gvt bail out all those

hocked up in mortgage debt, credit card debt and other types of finance whilst sitting on negative equity, with no hope of switching their debts,

on the back of our taxes, when we'd have liked all the trappings (just like most everyone else) and could have got all the trappings on the pump (just like most everyone else), but decided to play it sensibly (unlike most everyone else)

 

All that said, we do have alot of sympathy for people made redundant, especially at this time of year.

[swordfish1 10]

Personally, my wages have gone up and my mortgage gone down. With the decrease in prices of goods and the cost of petrol lowering, I'm better off now than I've been for quite a while.

However family members and some close friends have lost jobs, others are in fear of losing theirs in the near future. I seem to be in the minority of people I socialise with. Most are tightening their belts and predicting a tough time to come.

Must be getting soft as I get older, cos the smugness hasn't taken hold yet, and I actually feel concern for them.