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The_Dude Posted on 12/11/2008 23:06
all this credit crunch S***e

can't believe anybody has fallen for that old chestnut, its a myth

Genghis_Khan Posted on 12/11/2008 23:12
all this credit crunch S***e

You're either a very poor wind up or an idiot.

scooby Posted on 12/11/2008 23:14
all this credit crunch S***e


The_Dude Posted on 12/11/2008 23:14
all this credit crunch S***e

not really, its my subjective opinion, absolutely nothing has changed

scooby Posted on 12/11/2008 23:16
all this credit crunch S***e

"absolutely nothing has changed"

Well I suppose it is subjective but I'm trying to sell a house at the moment and my previous two sold on the first day when this "credit crunch S***e" didn't exist.

Genghis_Khan Posted on 12/11/2008 23:17
all this credit crunch S***e

I have lost count of the number of people I have told they no longer have a job in the last month. I also know of three very big companies on the verge of going under.

Kpmg are having a whale of a time!

The_Dude Posted on 12/11/2008 23:20
all this credit crunch S***e

there is always somebody making money, however bad the economy may seem to be in the eyes of the uneducated

gravyboat Posted on 12/11/2008 23:21
all this credit crunch S***e

'absolutely nothing has changed'

Dear God. Do you live in a box?

GillZean Posted on 12/11/2008 23:21
all this credit crunch S***e


You are absolutely right. All that's happened is the banks have stopped lending money to each other, so they won't lend it to us. The housing market has over-heated considerably and all of a sudden, someone has noticed the king is in the nuddy.
The media get hold of it cos they need a story, and all of a sudden people are out of work because the populus has been talked into a recession. It's all about confidence.
If people are confident they have a job they will spend money and the economy goes round, if the media tells you we are heading for recession, people think 'oh I'd better rein in the spending', and lo and behold enough people do it so a few months later redundancies start to appear.
I blame buy-to-let slum landlords, greedy estate agents and stupid developers for overheating the housing market in the first place.
Give it 10 years and luxury apartments will be seen as what they are flats in tower blocks- which nobody wanted to live in during the 70's. Sometimes it's important to learn lessons from history.

foggysfplandiet2 Posted on 12/11/2008 23:23
all this credit crunch S***e

"in the eyes of the uneducated"Oh, the irony! THE IRONY!

The_Dude Posted on 12/11/2008 23:26
all this credit crunch S***e

what is ironic about it

Genghis_Khan Posted on 12/11/2008 23:27
all this credit crunch S***e

Anybody at all involved in local industry knows that these are very worrying times for Teesside. Teesside wont have a chemical industry in 30 years, that's clear but the way this is going we wont have one in 5.

The_Dude Posted on 12/11/2008 23:30
all this credit crunch S***e

it'll blow over in a few months , one day a paper will print some S***e about how everything is magically picking up, and within a week the ftse will have risen to about 6 thou, as predictable as rain in march, everything goes in cycles ya see, like the ice ages etc, its just the way it is

gravyboat Posted on 12/11/2008 23:31
all this credit crunch S***e

Well thats all very well Gillzean, but the reality is, people are losing their jobs and homes. The Bank of England has today confirmed we are in recession. Clearly, money doesn't just disappear - there is still the same amount of money in the world as there was a year ago - but most people aren't seeing it.

I have absolutely no debt whatsoever, so I'm not in the least bit bothered that the banks won't lend to me, because I don't need or want them to. But the company I work for is stuggling because their customers are not producing goods, because their customer are not manufacturing them, because their customers aren't buying them.

The financial system is a farce, built on nothing more than speculationa and risk. But to suggest 'nothing has changed' is absolute rubbish.

The_Dude Posted on 12/11/2008 23:32
all this credit crunch S***e

i don't know anybody who has lost a job

Genghis_Khan Posted on 12/11/2008 23:32
all this credit crunch S***e

"everything goes in cycles "

That's the only thing you've got right so far, but ask yourself how many industries fell victim to the last cycle? We can't afford to keep shipping work to the far east.

gravyboat Posted on 12/11/2008 23:35
all this credit crunch S***e

Well I know 70 people who have lost their jobs in the last 6 months.

Do you think its a 'myth' to those small business' going under every day?

The_Dude Posted on 12/11/2008 23:37
all this credit crunch S***e

for every industry that fails, another takes its place in the economic chain, the levels of unemployment remain the same as previous with only slight fluctuations, stop looking at silly statistical analysis and just ask yourself if you are directly affected, or if the daily express tells you , you are

The_Dude Posted on 12/11/2008 23:38
all this credit crunch S***e

70 from where

gravyboat Posted on 12/11/2008 23:40
all this credit crunch S***e

Don't insult my intelligence, you f****g cheeky C***.


I'm not fretting over a fooking newspaper article you idiot.

The_Dude Posted on 12/11/2008 23:41
all this credit crunch S***e

the company you work for has sacked 70?

who do you work for?

gravyboat Posted on 12/11/2008 23:41
all this credit crunch S***e

From the company that employs me.

gravyboat Posted on 12/11/2008 23:42
all this credit crunch S***e

They haven't been 'sacked', they have been made redundant.

The_Dude Posted on 12/11/2008 23:44
all this credit crunch S***e

what company is that then

gravyboat Posted on 12/11/2008 23:48
all this credit crunch S***e

I'd rather not say who I work for on here.

They are a logistics company, with a head office on Teesside. They have closed down remote offices all over the country and downsized the Teesside operation which has resulted in 70 office staff being laid off this year.

That 70 doesn't include probably the same again in driving staff.

gravyboat Posted on 12/11/2008 23:55
all this credit crunch S***e

You've gone all quiet.

The_Dude Posted on 12/11/2008 23:56
all this credit crunch S***e

well, has it not occured to you that any company at anytime could find themselves in trouble even in a sound economic climate, or does that just seem too coincidental to you, well done by the way for knowing every single person who has been made redundant, you must travel a lot

The_Dude Posted on 12/11/2008 23:58
all this credit crunch S***e

doez than mean you work for manpower

GtBB Posted on 13/11/2008 00:05
all this credit crunch S***e

He's gone all quiet. It's a myth, Terry. It's a myth, Terry.

kazza Posted on 13/11/2008 00:11
all this credit crunch S***e


hope not

gravyboat Posted on 13/11/2008 00:13
all this credit crunch S***e

Look, it's late, I'm going to bed, and I really do not have the inclination to explain myself to you. Clearly, it is not just the company I work for who are laying people off.

Suffice to say, if you honestly believe the current world financial situation is not resulting in people losing their jobs then that's your perogative. You just keep on kidding yourself.

WillMunny Posted on 13/11/2008 00:19
all this credit crunch S***e

Christ on a bike dude. Whilst I am the first to deride the media and the reckless way that they destroy things for a good story, to say there is no credit crunch is ridiculous. You may as well deny the holocaust whilst you're in denial mode for it is unescapable FACT that it is near impossible to obtain credit at the moment. In other words, there is a credit crunch.

And you say 'nothing has changed'. Obviously you mean aside from interest rates, house prices, the value of shares, inflation, unemployment, commodity prices, exchange rates and last but not least - the availability of credit.

Unfortunately, we are at the beginning of a recession not in the middle of it. I'm glad you don't know anyone that has lost their job and I hope it stays that way. But things are gonna get a whole lot worse before they get better and this kind of arrogance makes you look like a T*** quite frankly.

The country will come through this recession just like it has every previous one. That is the nature of the cycle to which you refer. But people will suffer during the downturn - some through their own recklessness, but many through no fault of their own. Your lack of compassion in the circumstances is impressive!

But never mind eh, you're all right dude. I hope for your sake that it stays that way.

GtBB Posted on 13/11/2008 00:38
all this credit crunch S***e

The credit crunch shyte trickles downward.

Pig... check
Chickens... check
Allotment... check
Shotgun and ammo... check

Bring it on!

Gillandi Posted on 13/11/2008 01:16
all this credit crunch S***e

GtBB - The shotgun and ammo was a given mate but I can see you may be new to raising livestock so i'll stop you before you make a pigs ear of this depression. Take it from my rustic alias Cleet Hogwallop, you need to take a longer view with the sawn-off if you only have the one solitary pig. It needs loving and breeding not blasting against the shed wall. The pitter-patter of tiny trotters have to be heard first if you want to continue the all day breakfast lifestyle through the dark days ahead.

GtBB Posted on 13/11/2008 01:25
all this credit crunch S***e


Get three coffins ready...

They say we're only ever three meals away from anarchy, Gillandi. Reckon the dust will have settled before the gammon steaks run out. Heck, Ah been cryin', waitin', hopin' for the day Capitalism fell. Welcome to the wicky wicky wild western europe.

stedontsurf Posted on 13/11/2008 01:42
all this credit crunch S***e

Well done The_Dude - you've managed to hook a few people in on this thread.

You seem to be one of the only people who hasn't felt the pinch yet, and for that - congratulations. I, like many others, wish I was in your situation.

Anyone who says they have not noticed a change in the housing market / their spending habits / their place of work has either been living under a rock for the last year or comes from a very privileged background.

I write for two foreign business magazines and am dealing with financial news on a daily basis. Let me put it into layman's terms for you - the global economy is not exactly in the best state it's ever been in.

Anybody on here with half a brain could tell you that.

Maybe you've already put your point of view across and don't want to backtrack (it IS hard to admit you are wrong on a message board once you've made a statement) or maybe you don't actually have a full understanding or the experience to realise that the 'Credit Crunch' (an expression which I hate) is very much a real thing.

Anyway I reckon you're on a wind up so you already know what I'm saying! But fair play, you reeled me in too I guess!

Well at least that's one post closer to a ton for you. Happy to help.

Gillandi Posted on 13/11/2008 01:51
all this credit crunch S***e

Farming Outlook on a sunday afternoon before Shoot prepared us for this moment when christianity and socialism returns to our lands. You cant get any nearer to god than when you are working the soil and as long as we dont over crop, without rotation, using chemical fertilizers, we should all do very well out of this and be better people.

GtBB Posted on 13/11/2008 02:02
all this credit crunch S***e

We're Thatcher Children, Gill. We've done hardship and came out the other side leaner and better looking. It's the young uns like Pink Ponce and Wee Daft Boris I worry about. We'll need their moisturiser for frying purposes.

Gillandi Posted on 13/11/2008 02:20
all this credit crunch S***e

Natures manicure will do them both the world of good, and all the other cults of celebrity who've prospered so richly these last 10 years and lead us to believe we can all be rich and thin like them.

JLinardi Posted on 13/11/2008 02:50
all this credit crunch S***e

The big problem with businesses going bankrupt is the knock on effect it has.

For example a big business is owed money for services to other companies. These other smaller companies start to go bust and cant pay off the big business. The big business was reyling on getting this cash to keep them going, but now suddenly its not there anymore. This leads to the big business going down the swanny.

br14 Posted on 13/11/2008 03:11
all this credit crunch S***e

And another generation finally comes to the realisation that the rock solid edifices they put their trust in are really just a fragile mess built on artifice.

Truth is that a bank is only as solid as its depositors believe it is.

Dude and Gravyboat are both right. The credit crunch is a myth. But myths are what make credit work.


1. Gravyboat won't be spending any money any time soon, just like many others because of fear of losing their job

2. As a result sales go down, companies go bust, therefore...

3. ...go back to step 1

Self fulfilling prophecy unfortunately. Largely driven by newspaper hacks in desperate need of a good story, and nasty, dirty, greedy B****** speculators that are a scourge of society.

There's something rather immoral about the fact you can bet the bank on a stock rising or falling, and make money either way, without ever having to put down a penny when you make the bet.

zaphod Posted on 13/11/2008 03:16
all this credit crunch S***e

Not everyone is badly affected in economic downturns. I'm actually benefitting because I'm paid in US$, but on the other hand my brother lost his job.

Even though only a minority are badly affected, we have a responsibility as a society to sympathise with them & support measures to alleviate their problems.

The only exception to that is that I don't approve of support for those who've been financially irresponsible. It'll just encourage future financial irresponsibility.

br14 Posted on 13/11/2008 03:33
all this credit crunch S***e

Apparently the solution to the massive global fiscal crisis, created in the first place by enormous amounts of institutional debt, is to make it easier to borrow money.

Obvious init.

GillZean Posted on 13/11/2008 08:16
all this credit crunch S***e

Good points br14(previously)

Towell Posted on 13/11/2008 08:28
all this credit crunch S***e

BT to shed 10,000 jobs by march......

ianson_smoggy Posted on 13/11/2008 08:30
all this credit crunch S***e

I'm still getting paid the same amount of money from the 2 jobs that i have and i'm still spending the same amount of money that i had before all this 'C.C' started. Nowts changed for me!

bororeddaz Posted on 13/11/2008 08:35
all this credit crunch S***e

I work for a company that is growing in turnover but profit has been wiped out as we import from Europe and USA. Redundancies today

Not_Smog Posted on 13/11/2008 08:36
all this credit crunch S***e


"Give it 10 years and luxury apartments will be seen as what they are flats in tower blocks- which nobody wanted to live in during the 70's. Sometimes it's important to learn lessons from history."

You're spot on mate, I live in Nottingham and last year there was over 2600 city center apartments sat empty because the people who'd bought them from plans had assumed someone would pay 650 a month to live there. How wrong they were.

Having lived in two city center apartments, when i left the last one i vowed never again, they are basically just big cardboard boxes.

My advice to anyone buying a property is this, stay away from open plan new build apartments as they are devaluing faster then any other property in the UK.