| Recession? what recession? on 15:29 - Jan 13 with 638 views | J2BLUE |
| Recession? what recession? on 12:24 - Jan 13 by homer_123 |
It's real. We have clients at the moment where a third of their staff are receiving advances in pay as they cannot get through the month.
It may not, yet, be affecting everyone, but there are people who are in a terrible position at the moment. |
Always find it odd when they offer advances.
We're not paying you enough to live but would you like your money earlier so it can create an even bigger problem in the future? |  |
|  |
| Recession? what recession? on 15:30 - Jan 13 with 639 views | Deano69 |
Going by the queues to get in to Cartier, Rolex, Prada and the like when shopping in London, the message of recession doesn't seem to have got through!
Also amazed to see people paying £9 for a small bun thing on The Apprentice last night WTF is going on. |  |
| |
| Recession? what recession? on 15:41 - Jan 13 with 592 views | HARRY10 |
Utter nonsense
The key indicator is two consecutive quarters of negative GDP growth. Employment levels matter little if the real value of wages is falling. So much for the BIG LIE of a high wage economy.
Using debt as a means to meet monthly living costs can only end one way. That source of funding inevitably dries up. Remember the 'cash fr gold' stuff. A response to those unable to run up further debt.
The re-mortgage route is about to hit the buffers, if it already has not. Those coming off a low fixed rate this year below 2% will find the minimum 5.8% a massive increase. The suggestion is there are around 800,00 mortgagees who will be affected.
Whatever is take out of the economy by higher mortgages, energy bills and food prices, is money that cannot be spent elsewhere. This takes time to feed through. However using debt will only mask if for a while, it is a case of when, not if. |  | | |
| Recession? what recession? on 16:37 - Jan 13 with 543 views | MattinLondon |
| Recession? what recession? on 15:30 - Jan 13 by Deano69 |
Going by the queues to get in to Cartier, Rolex, Prada and the like when shopping in London, the message of recession doesn't seem to have got through!
Also amazed to see people paying £9 for a small bun thing on The Apprentice last night WTF is going on. |
Not everyone is going to be affected by a recession. People who are on high wages or mega money will continue to splash the cash regardless of whether a high amount of people can’t heat their homes or eat properly. |  | | |
| Recession? what recession? on 18:57 - Jan 13 with 479 views | Nthsuffolkblue |
Excellent. No reason for the Government not to pay a proper pay rise to public services and actually fund it too.
Good news. Let Sunak know and the strikes can all stop. |  |
| |
| Recession? what recession? on 19:49 - Jan 13 with 439 views | Eireannach_gorm |
| Recession? what recession? on 11:51 - Jan 13 by StokieBlue |
November may have seen growth of 0.1% aided by a huge sporting event (it was expected to shrink) but the last quarter actually saw a retraction of 0.3%..
Also worth noting that both the BoE and the OBR are predicting a recession for the UK in 2023 so given two independent entities are saying that what exactly are the media supposed to report? They have a duty to report that, it's not "doom-laden bollix".
With regards to our GDP, we are currently 6.4% below the pre-pandemic trends.
SB |
Christopher Nottage has the next question, he who wonders why, if the UK has temporarily avoided a recession, citizens aren't benefiting from any kind of newfound prosperity.
You ask an interesting question, Christopher. Yes, the UK economy grew in November, but only by a modest amount (0.1%). If you look at the broader picture, GDP fell by 0.3% in the three months to November 2022. This doesn’t paint a picture of a prospering economy unfortunately, but the better than expected performance in GDP offers a glimmer of optimism.
Some economists still believe that a UK recession is inevitable, but the news is a boost to the chances of avoiding a long recession.
The sad reality is living standards remain under significant pressure. We are still paying more than we did in the past to put food on our tables and to heat our homes.
Inflation is expected to fall significant this year, but is not expected to return to the Bank of England’s 2% target until the end of 2024.
|  | | |
| |
By continuing to use the site, you agree to our use of cookies and to abide by our Terms and Conditions.
