Our Economy..does it affect you?

[Hara_Juku Tgirl]

~Kisses.

HTG

[Tomfurbs]

Hell yes. Thanks to all our idiot UK banks (I work for a bank, so I can say this) investing in your housing market the UK is officially in a bear market and recession. Which means:

Our spending goes down = everything from cigarettes to bread to holidays to services gets more expensive.

House prices fall = homeowners get into negative equity = families have less to leave their children and make less money as they move up the property ladder. (Upside of this is rent goes down...in theory)

Getting a mortgage, loan, credit card will be that much more difficult. Halifax and many others have all but shut down their lending dept and is retraining its staff into debt management.


And the greatest irony of all: These banks create the problem by encouraging people to borrow much more than they can afford, creating an unsustainable bubble, and then, when the bottom falls out, aggressively claiming back their money, leaving their 'customer's' with bad credit records and lives fucked up by worry and debt collectors.

And then these CEO clowns give themselves whopping great bonuses. All in a days work for them. Most are on a '4x4' salary (£400,000 with a £400,000 christmas bonus) anyway and will never feel the pinch of the disaster they have created.

[Justawannabe]

No due to the way I'm invested it takes some very big changes to hurt my daily living much.

One reason I don't think much was done as this developed, even if the bubble burst, the folks who were rich already were going to be fine, it was the folks who were working up from the bottom and the folks just living paycheck to paycheck who would get smacked.

Heard more than one guy say that everyone should have known better than to over extend.

I was in Australia when the bubble first burst... hit them like a hammer in currency value... scary.

Sean

[hwbs]

hell yeah !!!!!!

[blckhaze]

cost of living has increased greatly where the minimum wage has raised slowly.
It affects anyone who didnt invest in oil or technology before 2000.

[BeardedOne]

I'm in an odd position. Perfect credit, good income, but lousy long-term payment issues due to a death in the family (2005) and subsequent bumps.

If not for the 'credit crisis' (Caused by others) I wouldn't have a problem. But my balances rose, causing my rates to increase, doubling and tripling my payments, etc.

The only upside is that I live in Delawhere and all of those finance charge profits will be subject to the state's 2% franchise tax.

FUCK YOU, J.P. MORGAN/CHASE!

Smarmy bastiches!

[tommymageeshemales2]

Are there any NASDAQ or FTSE listed stocks which have much exposure (pardon the expression) to the adult industry? Excuse the naiveity, but this is probably the best place to ask.

[iloveshemales77]

Been here b4 in the late 80s and early 90s. What amazes me is the collective amnesia of people regarding the markets (the housing mkt. in particular). I remember shelling out over half my monthly salary in mortgage payments and being in negative equity on my 1 bedder closet in Chelsea. And, I was making good money at the time as a bond trader. The market eventually bailed me out in the late 90s. But I swore then NEVER to over borrow again. It very nearly all went horribly wrong when I lost my job in the bond market crash of 1994.

[dgtlmstry]

According to my family back in NYC and MIA they are feeling the pinch especially at the pump and grocery stores...personally, I have not felt a thing in my neck of the woods. Too bad for the folks back there in the US of A...and apparently in the UK as well *rolling eyes*

[iloveshemales77]

According to my family back in NYC and MIA they are feeling the pinch especially at the pump and grocery stores...personally, I have not felt a thing in my neck of the woods. Too bad for the folks back there in the US of A...and apparently in the UK as well *rolling eyes*

It's only just beginning in Germany. They're usually a year or two behind the curve.