When do you think the economic climate will get better?

Soul

Soul

Banned
22 July 2008
East Sussex
I was wondering when do you guys think the the economy is going to improve or get better?

I'm curious because i'm going to finish Uni in the year 2012 and i'm hoping that the economy will get better by then, so i have a chance of getting a good job as soon as possible.
 
I think it will start to turn mid to late 2010, it's a global slump so it will be turned around quicker than a national thing.
I fear the worst is yet to come though when the newly improving eastern states crash...
 
Well, more people are getting laid off everyday because the companies are broke, which means they'll go on benefits because they'll have no choice. Government will be receiving less and less from tax because less and less people are working but yet they have to give money to the people who have lost their work. So, therefore, the government will be losing more money, and will end up with no money to GIVE for benefits. Only the very rich will be able to live without being on benefits I reckon and will be forced to donate money surely.

But yeah, I don't see it getting better anytime soon.
 
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Yana said:
Well, more people are getting laid off because the companies are broke, which means they'll go on benefits because they'll have no choice. So, therefore, the government will be losing more money, and will end up with no money to GIVE for benefits. Only the very rich will be able to live without being on benefits I reckon.

But yeah, I don't see it getting better anytime soon.
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Yana Have you checked places like OZ outside the big two cities, some places would welcome young families with open arms, especially if you have a trade or skills, we have friends who have just moved with a two year old, they say it's a fantastic standard of living...
 
So if i graduate, do you think it's best to move abroad?

Like Canada? I don't mind living there, but are they in the same slump as England?
 
Soul said:
BTW, can someone tell me what caused this reseccion?

Who's to blame for it?
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There's a lot of factors, cant really "blame" any singular although a lot of people who are in trouble now like to try and blame the banks. Some of them are right, as it was large unsecured loans etc.. that have caused some of problems, but those people are finding themselves in trouble because they were living beyond their means for a long time when things were good.
Over inflation and the property crash (which was bound to happen sooner or later) can be also blamed for a lot of it.
Anyway it's hard to pinpoint as it's different in every country/territory.

As for finishing Uni in 2012, we should hopefully be on the road to recovery by then, but t's hard to say as the worst is yet to come by the looks of things. :(
 
I say it's another year or so before we really hit rock bottom. Then possibly four or five years with minor ups from there until we start seeing some proper improvements.

Definitely gonna last a lot longer than people think though.
 
BTW, can someone tell me what caused this reseccion?
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No regulation for globalisation. Basicly no-one was paying attention to the credit market who in their wisdom constructed ridiculous loans that simplified meant they leant out 10bucks/euro/pounds to a homebuyer and then sold on that loan to other creditors. And this happend about 20 times for the same loan meaning it was supposedly worth 1000 bucks/euro/pounds yet the people they were lending it to were high risk. So they never had the money to pay for the original loan and when the housing market in the States reached a critical point all the "money" being pushed throughout the world evaporated as it didn't exist to begin with.
 
Youtube Peter Schiff if you want to know what caused this crash.

The dollar will probably be wiped out but the other currencies should be able to hold up. The only reason this is global is because most countries use the dollar as their "gold standard". This is what happens when money only is debt and not backed up by something real.

Peter Schiff:
YouTube - Peter Schiff Was Right 2006 - 2007 (2nd Edition)

Money as Debt (~45 minutes long)
Money As Debt
 
Soul said:
So if i graduate, do you think it's best to move abroad?

Like Canada? I don't mind living there, but are they in the same slump as England?
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The Canadian economy is so strongly linked to the US that it will go as the US goes - for better, for worse.

At the moment, Canada is slightly better then ours - due mainly to their goverment having a clue and also i believe that they have commodities that the UK doesnt have and therefore cannot sell.
 
Soul said:
I was wondering when do you guys think the the economy is going to improve or get better?

I'm curious because i'm going to finish Uni in the year 2012 and i'm hoping that the economy will get better by then, so i have a chance of getting a good job as soon as possible.
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I think 2012 will be the first year where we see any sustained sign of recovery.

The fact that inflation is now set to go through the roof (due to the goverment printing money 'yeah, that old chesnut') They try citing the US as an example of an economic model that works when doing this, but fuck me, the last time i checked, this sent them spiraling into a deep depression. They have used it recently i believe, but not for the period of time they are talking about us using this method. So again, fuck me - they are making up money (for real) its electronic money - giving it to banks/financial institutions and telling them to lend it to encourage spending again.
It aint gonna work. We need to shrink to a sensible level, then grow again organically.

Am i the only one who sees rioting/looting in the streets and hunger lines happening in the future?
 
DIRTY SOUTH said:
Am i the only one who sees rioting/looting in the streets and hunger lines happening in the future?
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Will not happen in wellfare states like contintal Europe...could happen in the States and the Uk wherethe differences between and the haves and the have nots are huge...
 
gerd said:
Will not happen in wellfare states like contintal Europe...could happen in the States and the Uk wherethe differences between and the haves and the have nots are huge...
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im coming to continental europe gerd. I'd come to Belguim, but apparently it'll be underwater soon :p
 
We don't worry about being underwater...that's a worry for the Dutch, but not for us...
You're always welcome i lover Argentinian fans of Man Utd who are just married...
 
gerd said:
We don't worry about being underwater...that's a worry for the Dutch, but not for us...
You're always welcome i lover Argentinian fans of Man Utd who are just married...
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oh yeah the dutch for sure but i heard belgium would be affected also. But in like 130 years or something...

what did the rest of your post mean?
 
Never mind, we've been through this in our PM's.
It's not that important and in 130 years i'm long gone...
 
Yana said:
Well, more people are getting laid off everyday because the companies are broke, which means they'll go on benefits because they'll have no choice. Government will be receiving less and less from tax because less and less people are working but yet they have to give money to the people who have lost their work. So, therefore, the government will be losing more money, and will end up with no money to GIVE for benefits. Only the very rich will be able to live without being on benefits I reckon and will be forced to donate money surely.

But yeah, I don't see it getting better anytime soon.
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too much fallout?
 
Things will get significantly worse before they get better, especially here in the UK. The UK has a massive debt (growing all the time) and no resources. If the UK economy was a corporation or an individual it would be insolvent and so declared bankrupt.

My strongest advice to any of you is learn a foreign language and try and do a job you enjoy.
 
gerd said:
Will not happen in wellfare states like contintal Europe...could happen in the States and the Uk wherethe differences between and the haves and the have nots are huge...
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umm gerd thats absolutley ridiculous... IMO. the united states has a HUGE middle class and going from poor to middle class to rich is a very common thing, also the reverse applies. There are not just poor people and rich people as your post suggests. There is everything, we truly are a melting pot.But as people like dar have suggested, too many people in that middle class and lower class(for lack of a better term) live way beyond there means. Americans two years ago on avg were saving %0. now there up to %5, which needs to be %10, but one can only hope. And banks really made stupid loans along with the people and businesses living beyond there dreams. The economic situation here in the states will improve by 2010 if not sooner.
 
DIRTY SOUTH said:
The Canadian economy is so strongly linked to the US that it will go as the US goes - for better, for worse.

At the moment, Canada is slightly better then ours - due mainly to their goverment having a clue and also i believe that they have commodities that the UK doesnt have and therefore cannot sell.
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there hasnt been a financial or housing meltdown in canada, but as you say there economy goes with ours because they export so much to the US. They are losing lots of jobs right now, especially in manufacturing. Quite honestly i dont see how australia is avoiding this global crisis. but soul if your graduating in 2012, i wouldnt worry mate.
 
DIRTY SOUTH said:
I think 2012 will be the first year where we see any sustained sign of recovery.

The fact that inflation is now set to go through the roof (due to the goverment printing money 'yeah, that old chesnut') They try citing the US as an example of an economic model that works when doing this, but fuck me, the last time i checked, this sent them spiraling into a deep depression. They have used it recently i believe, but not for the period of time they are talking about us using this method. So again, fuck me - they are making up money (for real) its electronic money - giving it to banks/financial institutions and telling them to lend it to encourage spending again.
It aint gonna work. We need to shrink to a sensible level, then grow again organically.

Am i the only one who sees rioting/looting in the streets and hunger lines happening in the future?
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and the banks are not lending, because they are tightening up who they loan too... Not sure were you read there printing money to give to the banks, but that aint happening. In fact two of the bigger bailout banks, BOA and Citi are most likeley going to pay the loans back by the end of the year. There loans to the banks they are not printing money to give to the banks. I think your doomsday situation wont happen in the states or north american for that matter. I think people are going to need to learn to live simpler lives and not want to buy whatever they feel they need, when they want it. They need to learn to save for things, savior free things, and not try and keep up with the neighbors. Credit has been wayyyyy to easy to obtain over the last 20 years and that is stopping already. When you hear all this bullshit in the news about banks need to lend again, its bullshit, Banks need to stop lending to people who cant pay it back!! once they tighten up the credit market, then money will flow to business and people in a good position to pay it back. hopefully soul you will learn not to throw a bunch of shit on your credit card you dont need and only spend money on things you will need, so when you do graduate your pound will go alot farther. I know people with debt of $15,000 plus and they dont think its a big deal... dont put yourself in that position and you will have nothing to worry about. Save %10 of any money you make and dont live beyond your means. Thats the best advice I can give you.
 
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