credit crunch "what credit crunch its all in the mind

wighty · Joined: 23 Jan 2009 Posts: 7 Location: United Kingdom

I'm no saint but i would like to say if you've got a problem with the credit crunch all i can say is capitalist greed look back 20 years you had what you needed not what you wanted you all got sucked in there's the old saying"never a lender or borrower be " my advice is tear up all your credit cards if your having trouble with your mortgage take in a lodger there's 2 positives there your helping yourself and others get rid of one of your cars there's three positives there one your saving money two your helping the environment and thirdly your kids will get fitter walking to school if you have anymore suggestions to keep the debate going all the better finally im not effected by the crunch as i desire nothing accept health and happiness my wife and the tools of my trade

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naylorpitt · Joined: 15 Oct 2008 Posts: 45 Location: Ryde

If everyone thought like you Wighty, we wouldn't be in the mess we're in now. The fat cat bankers would look more like skinny alley cats, and rightly so! We were lied to and conned into thinking we could have it all (though not me personally) and now they've got us where they want us, wage slaves chained to the treadmill. This is why they refuse to do anything about over population, more people to buy their rubbish, more wage slaves.
I read somewhere recently that every child nowadays is born already owing £17,000, that's how much financial trouble we're in!!

mushroom · Joined: 16 Dec 2008 Posts: 22

how apt that this subject has been raised-a couple of weeks back in the c.p one of the few council members who actually looks out for others rather than themselves(vannessa churchman)suggested turning down the thermostat at county hall and dishing out jumpers to staff to save a few bob-to be met with the comment from council committee member.sue poston saying"i dont think the credit crunch has affected the iow yet"-how out of touch is this woman?-200 county hall staff with jobs in jeopardy-are we paying this woman?THE CONSTRUCTION TRADE IS DYING ON ITS ARSE-LET ALONE THE REST OF ISLAND COMMERCE-and yet three weeks ago sue poston-council committee member made these moronic comments-I HOPE SHES AMONG THE REDUNDUNCIES

Carrie · Joined: 19 Aug 2008 Posts: 84

It's 13 years since I graduated and at that time the uni in my hometown was running a careers course for new graduates. I went along once and at coffee time everyone there sat and discussed what they owed from being a student, the lowest level of debt amongst the other people there was £7500 with one owing £15,000. It honestly was a bragging contest about who owed the most. None of them believed me when I said I'd worked my way through uni and didn't owe anyone a penny. I found a lot of students at that time aimed to build up their debt to such a level where it had to be written off as a bad debt, wonder what happened to those people if they ever came to apply for a mortgage Rolling Eyes

I have friends who graduated at the same time as me who still owe £15,000 and £11,000 each and yet they still managed to get a full mortgage on a quarter of a million pound house. I just don't understand that at all. How can you have that level of debt with no real attempt to pay it off and get a mortgage for that amount.
To me, the big problem right now is the general cost of living, utility bills and rent etc and then just how much do you have left at the end of the month.

mushroom · Joined: 16 Dec 2008 Posts: 22

you summed it up nicely-the banks would throw money at anyone who wanted it-the banks are responsible but the feckless who borrowed cash they knew they couldnt pay back

mushroom · Joined: 16 Dec 2008 Posts: 22

twist · Joined: 23 Feb 2009 Posts: 11 Location: Isle of Wight

Although its effects are quite real and quite frightening for some people (with house reposessions on the up as just one example), I can't help but think that it's been exaggerated to the point where otherwise well-off people have started to panic themselves. This isn't healthy for the economy.

I'm too young to have debt at the moment but I plan to get a mortgage and that's it. I don't understand those with huge credit card bills for designer clothes and the like. Confused

naylorpitt · Joined: 15 Oct 2008 Posts: 45 Location: Ryde

Hi Twist,
I can assure you the current economic disaster has not been exaggerated in the slightest, in fact I would say it is being played down! As you say, you are young and therefore will not have much to compare this current situation with. In all my years on this planet this is, without a doubt, the worst situation we as a nation have faced so far. In my opinion this crisis will end in disaster, I fail to see how it can't. There have never been so many home repossessions and with more and more job losses around every corner people will become increasingly desperate. Crime will soar out of control and people will feel unsafe in their own homes (Those that still have homes, that is). Once this happens the government will initiate marshal law and we will all be living in a police state, and, trust me, this is not going to be a nice situation. I feel very sorry for the youth of this country as they will not have the opportunities we had when we were young. The whole system is flawed and was designed to do exactly what is now happening. This government cares not one bit about us, they have a much higher agenda and will not stop until they have achieved it, or until we join forces and force them out! I can't remember who said this, I think it may have been Einstein, but it is very true; "A problem cannot be solved by the same mindset that caused it in the first place". Gordon Brown wants to head a new global economy, here's another relevant quote; "He who controls the money controls the world". Do you see where this is going?
No my dear, I'm afraid this situation has most definitely not been
exaggerated.

wighty · Joined: 23 Jan 2009 Posts: 7 Location: United Kingdom

well I'm back again hello to all in this debate i would just like to say we are nearly into the 3rd month of the recession and I'm still doing well no credit no debt and plenty of work in the pipe line if your out of work there's plenty of work out there if your willing to search for it early bird and all that i find when working customer to customer as a carpenter that most would say its the old sayings everything in moderation a little of what you fancy what you need not what you want i just feel this next generation better get on this boat and join the real world Ive found in my 46 years that nothings for free my suggestion to those in trouble listen to radio 4 you might find the insight to your gullible addictions my advice is avoid a charming smile in a suit,read the small print,if need be go to church,finally GET IN THE REAL WORLD but one positive thought SPRINGS COMING bye for now keep saving in a tin or under the bed not the banks

naylorpitt · Joined: 15 Oct 2008 Posts: 45 Location: Ryde

Hi Wighty,
unfortunately we ARE in the real world and frankly its never been as "real" as it is now. Whilst I completely agree that the way you live your life is the best way to go, you have to accept that not everybody has the ability to go out and find manual work. If they have never been trained in these types of jobs (skilled labour) they will not be able to go door to door looking for work or advertise in the local paper as they have nothing to offer in these circumstances. Self employed tradesmen like yourself will have a much easier time of it because you will always have something to offer and you are not reliant upon a company to employ you, but supposing you WERE reliant on a company that went under, you would not be having a very good time now and it would not be your fault would it? You are in a very enviable position, you obviously own your home outright and clearly have never owned a credit card but you are an exception rather than the rule and yes, I suppose you do have the right to feel smug about it all but you're not helping anyone by keep stating it as no one has the ability to travel back in time and correct the mistakes they made by believing in this idiot government. No offence intended.
I'm not sure how going to church or listening to radio 4 is going to help anyone, this is way more serious than that, but its how this is all going to end is what people should be concerned about most. Get on the internet and find out exactly WHY this is all happening and you will realise that this situation has been engineered to happen, and you will also find out the ultimate goal of this and other governments as to how we are all going to be ruled in the future. THIS is the REAL world, I suggest everybody prepare themselves because this couldn't be further from a "normal" recession. Yes spring is coming, at least the homeless won't freeze to death for a while yet......

naylorpitt · Joined: 15 Oct 2008 Posts: 45 Location: Ryde

Addendum.
I would just like to add that not everybody in credit card debt has run up huge debts buying designer clothes etc. A friend of mine got into awful trouble by using her credit cards to buy food to feed herself and her child because her wages did not cover her essential outgoings. Calling people who have this kind of debt gullible addicts is offensive and demonstrates an insular personality. You cannot lump everyone in the same boat like that because that's not always the case. Have a nice day Smile