Recession/Credit Crunch

chewie_oo7 said:
amen.
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amen from me on that one too.

I have zero savings but at the same time no debt as I never was one to live beyond what I could buy...even then I've never really tried to define myself by my net worth.

As long as you got a healthy body and mind plus the basics like a roof over your nut and something to munch your fekin loaded....;)

Dont get me wrong Id love a massive house and poncey sports car (DB98)8)8)) but I aint gonna lose any sleep over not getting them. Im sure it all feels a little flat after the initial buzz has worn off.
 
architects shedding quite a few at the moment. lots of em operate on small margins so don't have any in the bank for the rainy day (or veritable financial fire storm either)...urban splash let 1/2 it's staff go, however not many tears shed - they were always to smug.

hopefully relatively insulated due to international nature of a lot of work but i will be amazed if we get through this intact.

deano, bollicks point of view mainly, driven by your own perspective. there are people with debts who have 'used their noodle' & people with out them who have struck lucky.

where do you class students, all coming out with 20k on tick to find that the majority may as well have got a job at 16? sold down the river by society they are!

the credit crunch thing, in any case is driven by the property bubble & people over extending to get on the ladder - not chantel buying shoes.
 
Deano1974 said:
Best time to buy (if your going to live in it and not rent) is when they are on the way back up ;).....no point buying to get negative equity after a couple of months....rent instead, its not dead money then!



Those of us who have no financial worries either thought about what they were doing with there money (moi, hence not struggling) and worked hard at using it properly or were just rich at the start.......selfish view, but I've got nothing to be thankful for, I used my noddle.
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Instead of coming out with rubbish like the above you should actually be thankful you have no financial worries and have a good job,it's got absolutely nothing to do with "i used my noddle" what about the many people in jobs for years who have been laid off because there is no work for them anymore, what about people like myself who has worked all my life and desperately wants to work but simply cannot find any and i could lose my apartment amongst other things if i don't get work very soon, this has nothing to do with "using your noddle" im a direct victim of the disastrous recession that is gripping this country,not everyone can be in your privleged position, if it happened to you, then you wouldn't appreciate someone saying they didn't "use their noddle"
 
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agentundercover said:
the credit crunch thing, in any case is driven by the property bubble & people over extending to get on the ladder - not chantel buying shoes.
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and lenders offering up to 125% mortgages.

the student thing is pretty ****, esp now. if i ever have kids, id set up a trustfor each and everyone of em, so that by the time they reach Uni age, they can decide if they wanna get educated, or piss it up the wall.

or i could just spend the money on something completely pointless, just because i can.
 
Jonny68 said:
Instead of coming out with rubbish like the above you should actually be thankful you have no financial worries and have a good job,it's got absolutely nothing to do with "i used my noddle" what about the many people in jobs for years who have been laid off because there is no work for them anymore, what about people like myself who has worked all my life and desperately wants to work but simply cannot find any and i could lose my apartment amongst other things if i don't get work very soon, this has nothing to do with "using your noddle" im a direct victim of the disastrous recession that is gripping this country,not everyone can be in your privleged position, if it happened to you, then you wouldn't appreciate someone saying they didn't "use their noddle"
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Its not rubbish jonny, I don't need to be thankful because I'm prepared for the future, its called having 'back pocket' or 'bunce' to call on to get you through a problem time rather than pissing it up or sniffing it up the wall weekend after weekend........therefore its using your 'noddle' or being 'pro-active' about what's around the corner (although in this case people who didn't see this coming need glasses).

I appreciate people get laid off etc and its a difficult time, I've been there, but you've just got to crack on get yourself 'any' job to see you through the other side or while you find the job you've done for however many years......its not rocket science.....money makes the world go round and when it runs out your funked, hence making it last.

By the way, good thread (for once ;))
 
I really admire people like Deano who have planned ahead.

Wish i heeded the warnings instead of being dazzled by fancy "must haves".

Deano, you're a smug bastard and i salute you sir!

;)
 
Interesting to watch events in the US and Western Europe.

Out here, it's mainly the brokerages (not so much the banks) having a rough time. Brokerages, and some big businesses, had bet on the stock market continuing to rise and taken loans backed by shares. After the global effect finally hit the Russian stock market, they faced margin calls by creditors.

The lack of liquidity on financial markets has meant some companies - property developers especially but also some other major industrials - are putting new projects on hold. However, the fact that the Russian economy is so natural resource-based means that unless prices for oil, metals, etc. completely crash then they should be able to hold on.

My job appears to be shock proof... although I don't expect a raise soon or an especially big annual bonus this year.

I'm very bad at saving money during they year (in part due to traveling a lot and going out too much on weekends :lol:), but I have been good about saving the majority of my last 3 annual bonuses so I've got a little nest egg. I could take a year off work and survive just fine....unless one of my banks crash! (and the one in the US nearly did!)

I'm hoping to invest some of that money in property and/or stocks once this whole thing looks like it's bottomed out.
 
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Deano1974 said:
Its not rubbish jonny, I don't need to be thankful because I'm prepared for the future, its called having 'back pocket' or 'bunce' to call on to get you through a problem time rather than pissing it up or sniffing it up the wall weekend after weekend........therefore its using your 'noddle' or being 'pro-active' about what's around the corner (although in this case people who didn't see this coming need glasses).

I appreciate people get laid off etc and its a difficult time, I've been there, but you've just got to crack on get yourself 'any' job to see you through the other side or while you find the job you've done for however many years......its not rocket science.....money makes the world go round and when it runs out your funked, hence making it last.

By the way, good thread (for once ;))
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I used to be financially ok until this fcuking city became so expensive, absolutely EVERYTHING since the fcuking Euro came in dramitically increased in price and a lot of people myself included started to feel the pinch, of course the wages never went up to coincide with the dramatic increases,therefore people started to borrow (myself included) in order to pay for higher rents,etc.

i appreciate the fact there are undoubtely people far worse off than me but im in a bad situation right now with no work and spiralling debts, im doing my level best trying to get work here, if it comes to it ill have to bite the bullet and work for the minimum wage:eek:, for someone who has worked all their life trying to get the dole is another fcuking obstacle, that really grates me, they are quite happy to dish out hand outs immediately to foreigners/asylum seekers, but when Irish people go to get any benefits it's a case of wait your turn, the whole fcuking system stinks.:evil:
 
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Just out of curiosity what is the current job market like in London?

Really do not want to up sticks and leave again but if this keeps up i may have no choice if i can't get anything here, don't really like the idea of living in London again, it's grand for a weekend/short holiday but i just find it too much of a rat race (no offence meant to any Londoners whatsoever BTW).
 
I work in Construction Recruitment, my business has been going since 2001. It's good business sense not having all your eggs in one basket. There is a lot of money committed to construction, the idea that all sites have been abandoned is a total myth.

Housebuilding is only one area of construction, there is Social Housing, PFI, Regeneration, infrastructure, renewables, Government funded work, plenty overseas.

Don't get me wrong, it's tough out there but the work is there if you are adaptable and know your market. And there is still an overall shortage of skills. I recruited production workers throughout the manufacturing recession, so it's nothing new.
 
Jonny68 said:
Just out of curiosity what is the current job market like in London?

Really do not want to up sticks and leave again but if this keeps up i may have no choice if i can't get anything here, don't really like the idea of living in London again, it's grand for a weekend/short holiday but i just find it too much of a rat race (no offence meant to any Londoners whatsoever BTW).
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It depends what you do/what you want to do - there is obviously much more opportunity in London just cos there's more businesses/industries based here, maybe send your CV to a few recruitment companies over here, at least you'll get a feel from them for what the market is like in your field and if they are positive probably worth coming over for a few days to visit lots of agencies.
 
stop moaning jonny it's same for everyone.

not once have i heard you mention that you're cutting back on going out, buying this buying that.

you've become too accustomed to a level of living. i very much doubt that if this same thing happens again in 20yrs time, that your situation will be any different.

just be thankful you aint got a family to support.
 
MARKB said:
Housebuilding is only one area of construction, there is Social Housing, PFI, Regeneration, infrastructure, renewables, Government funded work, plenty overseas.
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Hi Mark, i trust you are well!

It's true what you say. We're mainly in construction and the housebuilding industry and we're doing just fine. A lot of our work is in social housing, regen etc and our work is well spread amongst many big companies.

We had our best financial year to June this year and as well as my core 25'ish staff, i employed around 15 temps but since things slowed down around mid July, i've shed the temps but am managing to keep enough work for 20'odd so can't really complain.

We have a massive job starting in January with the council too so no worries in getting paid.

In light of the impending slow down we decided to set up a design division which is going really well and bringing in quite high revenues.

I firmly believe what Dirk said above in that if the credit crunch wasn't mentioned in the media so much, people would have more confidence to go out and spend money and take more risks which would put more money into the big pot.

I think it's just all about looking at diversification and what other options you have.

Jonny - have you not thought about setting up on your own, perhaps doing some consultancy?
 
MARKB said:
I work in Construction Recruitment, my business has been going since 2001. It's good business sense not having all your eggs in one basket. There is a lot of money committed to construction, the idea that all sites have been abandoned is a total myth.

Housebuilding is only one area of construction, there is Social Housing, PFI, Regeneration, infrastructure, renewables, Government funded work, plenty overseas.

Don't get me wrong, it's tough out there but the work is there if you are adaptable and know your market. And there is still an overall shortage of skills. I recruited production workers throughout the manufacturing recession, so it's nothing new.
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Very true, we were deemed more a "housebuilding" event, for small builders, developers eg the bovis's and wimpeys of this world but we have switched things a bit and have set our targets a little higher up the food chain and it seems to have worked....for now......at the moment if you stick the word "sustainable" on anything you are on to a winnner!!!
 
Money, get away.
Get a good job with good pay and youre okay.
Money, its a gas.
Grab that cash with both hands and make a stash.
New car, caviar, four star daydream,
Think Ill buy me a football team.

Money, get back.
Im all right jack keep your hands off of my stack.
Money, its a hit.
Dont give me that do goody good bull****.
Im in the high-fidelity first class traveling set
And I think I need a lear jet.

Money, its a crime.
Share it fairly but dont take a slice of my pie.
Money, so they say
Is the root of all evil today.
But if you ask for a raise its no surprise that theyre
Giving none away.

Huhuh! I was in the right!
Yes, absolutely in the right!
I certainly was in the right!
You was definitely in the right. that geezer was cruising for a
Bruising!
Yeah!
Why does anyone do anything?
I dont know, I was really drunk at the time!
I was just telling him, he couldnt get into number 2. he was asking
Why he wasnt coming up on freely, after I was yelling and
Screaming and telling him why he wasnt coming up on freely.
It came as a heavy blow, but we sorted the matter out

Timeless classic​
 
or in the words of the Fabulous Freak Brothers

" Dope will get you through times of no money, better than money will get you through times of no Dope"

8)
 
chewie_oo7 said:
stop moaning jonny it's same for everyone.

not once have i heard you mention that you're cutting back on going out, buying this buying that.

you've become too accustomed to a level of living. i very much doubt that if this same thing happens again in 20yrs time, that your situation will be any different.

just be thankful you aint got a family to support.
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are you a fly on the wall everywhere i go?do you know absolutely everything i do in my life and everything about it?No so button it you don't know what your talking about, if you were in my situation you wouldn't appreciate some c*nt saying "stop moaning" thankfully most people on this thread have been somewhat helpful in their comments.
 
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