Is the recession coming to an end? Are there signs of recovery ?

[Titanic99 10]

The aspect of this discussion that I find fascinating is that how will the ordinary person in the street know when the recession is over.

 

For example if Joe Bloggs is still doing the same job for the same pay (as the vast majority are), is still paying the same rent or lower mortgage, then is he/she in a personal recession.

 

Will most people perceive they are out of recession when unemployment drops again, or when Interest Rates start going up, or when they can buy more Euros for their pound abroad.

[Randy 10]

People keep talking as if the recession is some natural phenomenom we have no control over, but it isn't - it's man-made! Surely no one would actually want the recession to continue, so basically the recession will end whenever the financial people stop doing whatever it was that caused it in the first place!

[md25 10]

People keep talking as if the recession is some natural phenomenom we have no control over, but it isn't - it's man-made!

correct. The fact that finance is unbounded by the laws of physics means that financial disasters are a whole lot bigger than physical disasters like volcanoes. Oddly many people would rather take their chances with lava than bankruptcy.

 

Even more oddly, banks have relied on PhD rocket scientists to dream up their clever clever schemes. They assumed that lending mortgages and writing life assurance are basically the same, which was the act that spawned this whole mess. Hopefully their P45s will have taught them a lesson they won't forget!

Surely no one would actually want the recession to continue

Actually a lot of people stand to make a lot of money from bearish bets, so there is some interest in prolonging the pain for the rest of us. The recent increase in the stock market may have something to do with people cashing in those bets.

 

This is actually a promising sign: they make more money the lower the market goes, and why would they cash in now if they thought it was going to go lower? Of course it could be a dead cat bounce / bear trap / sucker's rally / simple randomness; only time will tell.

so basically the recession will end whenever the financial people stop doing whatever it was that caused it in the first place!

All that reckless lending has certainly stopped. Unfortunately the good lending that many businesses need to keep ticking over has also stopped which is causing unlimited misery. If the banks that we own don't start playing ball soon then it is time for full and formal nationalisation, instead of the pseudo-nationalisation we presently have.

 

In any case I don't think people's propensity for reckless borrowing will go away. Carrying balances on credit cards will always be an incredibly dumb thing to do, as is the belief that house prices only go up, but in seven years all will be forgotten...

[Berlin 10]

i dont see how it can recover if we have no money left in the economy ..?

 

oh forgot we are printing more money..... !!!!!!!!!!!!!!

 

 

does that answer your question were kn*****ered and the only way is down in my opinion, we have a long long way to go before any kind of light at the end of the tunnel i am afraid.

 

The government has just announced that, in order to save money, the light at the end of the tunnel will be switched off until further notice.

[slimsid2000 10]

Yes I've just taken my dentures out of porn.

[andyofborg 11]

The closest you can get to "one man ltd co" is one director and someone else as company secretary.

 

 

the companies act 2006 changed the law on this, and for a private limited company there is no longer a requirement for a company secretary.

[andyofborg 11]

Yes I've just taken my dentures out of porn.

 

do you mean pawn?

 

or have you been generating adult material for the stranger end of the fetish market.

[Olive Tree 10]

Quote:

Originally Posted by Olive Tree View Post

I had a house on for 100k mid last year. its now dropped to 90 and then 85 and now ive spent 5k renovating it, so even if i sell at that its stood me at 80. the ones near me (smaller than mine) have just sold for 70.

 

i reckon its bottomed out. 15-20% loss is a lot of money...

What makes you think that?

 

Because loan sharks would probably offer me in the region of 40k, but if normal ppl are buying houses close to me at £70k, and my house is bigger on a better street. 80k plus is a fair amount i would reckon, just that i havent finished renovating it!

 

Oh and i asked the banks for a mortgage and they wanted from 10, to 20 to 40% deposit depending on who you asked.

 

i also got 3 enquires. beleive me ppl want them but cant get access to finance

[garrence 10]

You mean " Bear Trap"

 

"Bull trap" surely? Or you think there are some more upward legs for the bulls?

 

 

Thanks to those who corrected me on there being no need for a company secretary nowadays.

[MrNM 10]

Things have levelled out, unemployment will still go up though as Companies use it as an excuse to trim the workforce back and frighten the remaining ones into doing more work.

 

Thats 100% spot on! (Your post that is, not the actions that you refer to which I see happening here as well!)