with you binners what do you think george and Dave have cut back on ? It is not smugness.

I work for a bank in a fairly senior role. (for the last 2.5 years)

The last few years have been very good for me.

On my current salary I can do many things that I want to: in particular extend my house (and mortgage to the tune of £40-50k).

However, I have no confidence that I can maintain my current income for the next “x” years until retirement.

Hence I an reluctant (to put it mildly) to take on any more long-term debt.

I am sure many people are in the same position as me.

I think this is the crux of the problem we face for the forseeable future – lack of confidence leading to lack of spending, leading to lack of economic growth.

yes most folk are just like you..I mean who would want to spend more than 50 K on the mortgage/house extension ?
And they say bankers are out of touch

Right on brother. Don’t let your prejudice blind you.

Thanks for your contribution. We really are all in this together. Oh… did i mention I lost my business last year. And just about everything I own, bar the clothes i was stood up in. Anyway… how’s the extension? Everything you hoped it’d be?

Over and out.

The STW bitter and twisted are out to play. Apologies for attempting to add a valid point to this thread, how silly of me.

Don’t choke on your bile boys.

Binners, what was the business you lost?

Cheers Junky, I’m not looking for work even though I am now officially unemployed and probably enemployable! My change is to start a new business between the UK and Spain and I’m just trying to get a feel for the UK. The stories I have from here are frightening, local authorities that are paying the bills with land because they don’t have money putting major employers under huge pressure. 😯

It’ll take an eternity to get back to where we were

Personally I think this is possibly the biggest problem – one of the perception that 15 years of continuous growth was normal and sustainable, and the debt we built up desireable…

We took on massive debts and were spending money that none of us actually had. And I mean WE: the government, banks, companies, the people. IMHO we properly lost the plot, there were riots outside Topshop and Ikea FFS!

What we’re going through is a necessary correction, hopefully to something more sustainable over the long term – steady, sensible growth. To expect to get back to where we were is IMO a) unrealistic and will lead to disappointment and b) undesireable…

You know I think you have done more to progress the argument that all the bankers that got us in to this mess are unsympathetic unrepentant **** than I could ever hope to achieve

I think this is the crux of the problem we face for the forseeable future – lack of confidence leading to lack of spending, leading to lack of economic growth.

Who gives and takes this confidence? The banks, no? Restructuring your last line to ” Lack of lending, leading to lack of growth, leading to lack of earning, leading to lack of spending. Interesting that you see a more Keynsian lack of spending as a key part of the problem.

Anyway… how’s the extension? Everything you hoped it’d be?

I’m off to kip now, but try and read a post properly before you reply – I have no extension, I don’t have the confidence in my future earning potential to take on extra debt for one. Hope this doesn’t spoil your argument.

oooh banker bashing! 😀 We love that.

I’ve worked for 3 banks. Does that basically make me satan?

You know I think you have done more to progress the argument that all the bankers that got us in to this mess are unsympathetic unrepentant **** than I could ever hope to achieve

Assuming that’s aimed at me…it really never fails to amaze me that people on here don’t bother to read posts properly before venting their spleen.

On my current salary I can do many things that I want to: in particular extend my house (and mortgage to the tune of £40-50k).

However, I have no confidence that I can maintain my current income for the next “x” years until retirement.

Hence I an reluctant (to put it mildly) to take on any more long-term debt.
Deliberately ambiguous to get the reaction you wanted. Good, but not good enough. I call troll.

I’ve worked for 3 banks. Does that basically make me satan?

No, it makes you a banker. 😉

oooh banker bashing! We love that.

I’ve worked for 3 banks. Does that basically make me satan?

You utter utter waste of space. Don’t you know you have no right to voice an opinion on here??

@aka_Gilo

Don’t you know sarcasm when you see it?… Go to bed mate.

Deliberately ambiguous to get the reaction you wanted. Good, but not good enough. I call troll.

*Sighs* Is voicing a point of view that goes against the STW bullyboy massive really only likely to be deemed a troll?

How depressing.

@aka_Gilo

Don’t you know sarcasm when you see it?… Go to bed mate

Sorry. I’m so dim.

You utter utter waste of space. Don’t you know you have no right to voice an opinion on here??

Opinions, yes. Extreme opinions to wind up, no!

*Sighs* Is voicing a point of view that goes against the STW bullyboy massive really only likely to be deemed a troll?

How depressing.
Oi! Pot, you’re talking to the kettle, OK?

What sort of work are you looking for junkyard?

**** it. you know some people struggle some don’t. ‘dems de breaks.

I’ve not noticed a recession. I’m gone from strength to strength. Am I supposed to feel guilty? I’d love to but I didn’t see any **** helping me out when I had nothing 😀

I’ve not noticed a recession. I’m gone from strength to strength. Am I supposed to feel guilty? I’d love to but I didn’t see any **** helping me out when I had nothing

100% agree. What line of work are you?

Opinions, yes. Extreme opinions to wind up, no!

don – serious question – why do you think I was trying to wind people up?

I gave an honest opinion – I’ve done well over the last few years, and I am acutely aware that many have suffered and are suffering. My point was / is that if people such as myself who are *curently* doing ok but have little or no confidence in the short-medium term economic future of this country and hence will not take out further credit, I think we as a country have a problem.

Bitter? You don’t know the meaning of the ****ing word! I’m sorry if thats upset you. And your extension.

Graphic design business I lost. Spent 5 years building it from nothing. Worked my ass off for virtually nothing at the start. But build it we did, and we were doing well. Then it went tits up. We had 3 clients fold in quick succession owing us tens of thousands. for work done. One a huge multinational. Then cancelled contracts. Then had our offices burgled that cleared out all our kit. It was all fun and games

Then, when i wound the company up I was told at the job centre that seeing as i was still listed at companies house as a company director , I was still officially ’employed’. So despite paying tax and NI every day of my life, I was entitled to nothing until the company was wound up. It took eleven months. So during that time… two kids – no income. as in £0 per week. Picking up freelance where i could get it. Of which there was virtually none. Full council tax, rent and bills to pay etc with zero income

So…. going back to the OP’s question: how bad is this recession? I’m just glad I’m alive. It could have gone the other way on a number of occassions. If it wasn’t for my girls and a wonderful woman who put up with the inevitable mental collapse…. So…. There’s nothing you can do to me that hasn’t been done to me. I’ve lost everything. And I don’t care. I’m alive. And I’ve been taught about what really matters in life.

So do forgive me if I don’t want to hear about your extension

100% agree. What line of work are you?

IT security. Via selling beds, shoveling shit in a garden centre and getting shot at in the army.

Never been on the dole. Never went to Uni. Got everything through my own efforts and on merit.

Assuming that’s aimed at me.

there is some doubt there 😯
Its DS who want help I have lots of work I work with the unemployed

Why dont you defend your own view rather than just attacking those criticising you ?
You do seem a bit out of touch whilst telling us many “people ” feel like you. Real wages/disposable income has been cut and are reducing still, unemployment has rises most people have not had a good time the last 2.5 years even if you have.
EDIT:

I’ve done well over the last few years, and I am acutely aware that many have suffered and are suffering. My point was / is that if people such as myself who are *curently* doing ok but have little or no confidence in the short-medium term economic future of this country and hence will not take out further credit, I think we as a country have a problem.

you expressed that view rather poorly and this make a much more coherent and reasonable point.
I suspect you will blame my comprehension though

Binners- that’s horrendous. I do feel for you (and please don’t take that as patronising). Unfortunately as part of my job I speak to people in similar positions to you on a regular basis.

My point is that I could easily have ended up in your position, and equally you could be in my position.

I fully understand why you feel so bitter, and in this debate my desired (but unlikely to happen) extension has no relevance.

The point is that while those of us who (so far) have continued to do ok have no confidence in the economic future of this country, we have a problem.

Apologies if you think I came across as not giving a sh*t for those who are struggling – that really isn’t the case.

you expressed that view rather poorly and this make a much more coherent and reasonable point.
I suspect you will blame my comprehension though

Fair enough, maybe my point wasn’t clear.

don – serious question – why do you think I was trying to wind people up?

Because of the wording.

On my current salary I can do many things that I want to: in particular extend my house (and mortgage to the tune of £40-50k).

Would kind of say to me that you ARE extending your house in a thread about recession and as a person who says

I work for a bank in a fairly senior role. (for the last 2.5 years)

The last few years have been very good for me.
Would indicate to me that you are intelligent and know very well how your comments will be received. That was the serious answer.
Kettle is less kind. 😉
Best leave it, eh?

I’d blame your comprehension and I’m neutral. Seemed clear enough to me.

Its DS who want help I have lots of work I work with the unemployed

I DON’T WANT HELP! But thanks anyway. 😉

I think the mood on this forum recently tells you about the impact of the recession 🙁
Is this the first time an STW row has ended with apologies all round for flying off the handle? Maybe things are picking up 😉

don – maybe the point I was making could have been better expressed, nonetheless I stand by it.

The important thing is that people on here who are having a terrible time of things are getting the impression that I don’t give a damn. That bothers me because nothing could be further from the truth.

I hope the mods are reading this. 😈

I’d blame your comprehension and I’m neutral. Seemed clear enough to me

Nice try but lets just let some peace break out for an evening eh I really cant be arsed tbh

aka_Gilo You tell us the problem with a stagnant economy is people who have money available in some form not having the confidence to part with the money. Hence the ever decreasing circle of economic pessimism.

You have the money available. You must therefore be the block to such ‘progress’? Come on find the confidence. Think of the children

Nice try but lets just let some peace break out for an evening eh I really cant be arsed tbh

I’m not trying to wind you up either. Just seemed like folk were having a pop at that other lad for no good reason.

I’m not having a pop at you. Honestly. I’m bitter about the fact that people like me are invisible. There’s a lot of us but we don’t even figure on the radar. Nobody cares! Really. Nobody gives a ****! And its people like me who are meant to take the risks to get us out of the recession.

And one of the guys who went bust on us? Owing money for a full e-commerce website – put his company in receivership, then bought it back a week later for a token fee. He’s driving around in an AMG merc still. And still doing business on the website he never paid for. But I can’t do anything about it, because its ‘legal’.

The rules are stacked in the favour of big business and they’re becoming more so. If you asked me if you should starta small business now. I’d say you’d have to be out of your ****ing mind.

So where is this economic recovery going to come from? All that’s on the governments radar is the intersts of big multinationals, banks and private equity. And they are strangling the ‘real’ economy. But no-one in power is even prepared to address this

We’re all ****ed I’m afraid

billysugger – I am thinking of (my) children. Hence the play safe mentality. Not a train of thought I have much experience of.