recession!!how bad do you think things will go?

irishvamp90 · 23-01-2009 4:21am #1

i know people are sick of doom and gloom but the recession has hit my family with my dad and uncle affected.we live simple lives which will help but how bad will things go?trying to be realistic here and not the it will come along again gang.in college and working retail/pub!

minxie · 23-01-2009 4:31am

well where im working we have just been moved off
3 nights to 4 days come this feb, still a temp after
nearly 3 years so not looking too good
for us at the minute.....:(
trying to keep optimistic tho chin up an all
that , still got my job at the minute:), its hard times tho tbh

tallaght01 · 23-01-2009 4:35am

My parents have just lost thousands off their pensions.

My sister has been put on a 4 day week.

My other sister is about to leave law school, and will have zero chance of a job.

Actual banks are going bankrupt.

I think it's going to be pretty bad. I'm not worried for me, as I have a safe, long term contract. But I'm pretty worried for my family.

Esel · 23-01-2009 4:36am

Think Depression, not recession.

RATM · 23-01-2009 4:37am

irishvamp90 wrote: »

i know people are sick of doom and gloom but the recession has hit my family with my dad and uncles.we live simple lives which will help but how bad will things go?trying to be realistic here and not the it will come along again gang

On the downside it's not gonna be nice for those who lost or are about to lose their jobs. As always the lower skilled people will lose the most as middle skilled people squeeze them and take their regular type of jobs, if and when available.

On the upside this will shake up the economy, devalue the housing market nice and proper and sort out the wheat from the chaff. It's gonna be an all out price war which might help make the recession a tad bit more bearable for some but not all.

brendansmith · 23-01-2009 4:38am

I would be surprised if the wheel becomes uninvented before this sh1t comes right again.

SV · 23-01-2009 4:44am

It's going to be the worst few years for a few people, and the best few for another group of people.
Fast forward 10years and we'll all be back to square one again.

minxie · 23-01-2009 4:45am

and i only realised that gov levy coming outta
my wages this week.. in all honesty whats
that for i have no idea??

brendansmith · 23-01-2009 4:47am

ClioV6 wrote: »

It's going to be the worst few years for a few people, and the best few for another group of people.
Fast forward 10years and we'll all be back to square one again.

I certainly hope it all goes back to year 0 again.

http://2.bp.blogspot.com/_aMoi5cmV_uQ/SJvkbhc6uGI/AAAAAAAAAMs/oiZCkOxSDEY/s400/225px-Pol_Pot2.jpg

irishvamp90 · 23-01-2009 4:56am

goverment levy??jesus i better start getting pay slips

Danbo! · 23-01-2009 9:51am

minxie1 wrote: »

and i only realised that gov levy coming outta
my wages this week.. in all honesty whats
that for i have no idea??

Basically, you now own a small fraction of a bank

Sean Quagmire · 23-01-2009 10:36am

minxie1 wrote: »

and i only realised that gov levy coming outta
my wages this week.. in all honesty whats
that for i have no idea??

yea noticed that this morning - absolute bastards
A country on it's knees and its faith rests on the shoulders of idiots.

Show_me_Safety · 23-01-2009 10:43am

it has yet to effect me and people i know in a real way.
parents pension and investments are down, they're house has at least a quarter mil wiped away from the value...but thats all paper wealth so they're grand.

i think it will get quite bad for those who made stupid choices...ie two cars, top-up MTG, further loans, keeping up with the jones's, a few holidays a year.

i feel bad for people who are loosong there jobs due to selfish owners, managers and investors who are still going after super-normal profits.

4zn76tysfajdxp · 23-01-2009 10:45am

irishvamp90 wrote: »

recession!!how bad do you think things will go? !

Great! Everything's gonna be aaaaaalllllllllllright!

Pighead · 23-01-2009 10:47am

Recession won't be as bad as everybody is saying but it'll be bad all the same. Like it's not ever gonna get to Cheeky_gal levels of badness but it's definitely gonna stay brendansmithishly bad for a while yet.

Ross_Mahon · 23-01-2009 10:47am

In my place, They have used the whole Recession thing as a means to motivate people, And were even using it as a threat

"If you don't work harder, You wont have a job after the new year"

We were just under our target sales, So i just brushed them threats off, We recently got a 6% wage increase? I dont know why? Its the boot coming soon :eek:

edanto · 23-01-2009 10:49am

noblestee wrote: »

Basically, you now own a small fraction of a bank

Or more to the point, we are now part owners of loans which are unlikely to be repaid, which were securitised on property holdings based on a peak bubble valuations.

And this done close to the 90th anniversary of the first Dáil, a product of our rebellion against unfair land ownership and bad government. Sickening.

Sanjuro · 23-01-2009 10:53am

I reckon it's about time to crack each others' heads open and feast on what flows forth. At least, from watching the news, that's what I think they're going to suggest.

Sean Quagmire · 23-01-2009 10:55am

Pighead wrote: »

Recession won't be as bad as everybody is saying but it'll be bad all the same. Like it's not ever gonna get to Cheeky_gal levels of badness but it's definitely gonna stay brendansmithishly bad for a while yet.

finally, somebody puts its straight :pac:

Gummy Panda · 23-01-2009 10:55am

was there some new duty introduced on laser cards. I got debited 5 euro from my bank account yesterday for government laser card duty. I thought they take that in april?

corkhero · 23-01-2009 10:57am

The media are making this recession a lot worse than it actually is.

I mean they havent stopped on about it.

we know we are in a recession ffs, stop rammin it down our throats.

destroyer · 23-01-2009 10:59am

Right, 1% less in the wage packet. House prices down 20%, new cars down 20% (secondhands a lot more) , fuel prices down 40%; food,
clothes ,shoes everything on sale!
Interest rates down ,electricial goods slashed,
labour cheaper, if you need a builder ,plumber ,carpenter etc.
(and easier to get).
All this and 90% of us still have a job to go to.,
(95%, if you dont count those who dont want to work). HAPPY DAYS!!!

Recession??? i LOVE it, BRING IT ON ! !

Hagar · 23-01-2009 11:01am

There's going to be some crippled child in Ethiopia with cataracts walking 12 miles to a post office to send us €2 to feed an Irish baby before this is over.

Quazzie · 23-01-2009 11:04am

Sean Quagmire wrote: »

yea noticed that this morning - absolute bastards
A country on it's knees and its faith rests on the shoulders of idiots.

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

mickos · 23-01-2009 11:07am

I earn as much as I always did. Was due a raise in December that hasn't come through but I can live with that. Everything is getting cheaper so for me so far so good. The only effect I can see it having on me is when the government raises taxes to pay for theirs and other peoples mistakes. Feel bad for all the people losing their jobs alrite but you've gotta be optimistic all this gloom and doom is soul destroying. Its a great little country if they could only run it:rolleyes:

destroyer · 23-01-2009 11:11am

Quazzie2002 wrote: »

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

Very true 1% is negligable, and money has to come from somewhere....
......... they are still idiots though

LeahBaby · 23-01-2009 11:11am

Oh my God I hate reccesion talk.

Leah in the shop yesterday..

Nosey,has to know it all lady : Jaysus, I heard about your job over there.
Leah: Ah yeah, sure what can ya do(hoping lady takes this as a rhetorical question)
Nosey Bitch: Jaysus, there's no jobs out there. It's scary. I know this lady who's son works in...
What the?!
What are you doing ?!?!

Noooooooooooooooo!!!!!

*Warning, I will stab anyone with a lotto pen who talks to me about the recession.

Zascar · 23-01-2009 11:12am

Excellent article from Jeremy Clarkson, worth a read:
http://www.timesonline.co.uk/tol/driving/jeremy_clarkson/article5292547.ece

I think mainly this is because the government is not telling us the truth. It’s painting Gordon Brown as a global economic messiah and fiddling about with Vat, pretending that the coming recession will be bad. But that it can deal with it.

I don’t think it can. I have spoken to a couple of pretty senior bankers in the past couple of weeks and their story is rather different. They don’t refer to the looming problems as being like 1992 or even 1929. They talk about a total financial meltdown. They talk about the End of Days.

Quazzie · 23-01-2009 11:16am

destroyer wrote: »

Very true 1% is negligable, and money has to come from somewhere....
......... they are still idiots though

I agree. Its what they do with the money I personally have problems with.

I think people are underestimating how potentially serious this could be. I'll be over the moon if all I end up losing is 1% of my wages

Gummy Panda · 23-01-2009 11:17am

Zascar wrote: »

Excellent article from Jeremy Clarkson, worth a read:
http://www.timesonline.co.uk/tol/driving/jeremy_clarkson/article5292547.ece

End of days!!! :eek:

Does this mean i should buy the last of V8 interceptors and pimp out a car like mad max?

big b · 23-01-2009 11:18am

Quazzie2002 wrote: »

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

sorry, Minister

recession!!how bad do you think things will go?

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