recession

[lyn]

do you think we are in for another recession? i really think we are in for a rough time over the next couple of years.

[Krisdt]

I think soem areas are really gonna suffer but its all to do with world trade stuff which makes it a problem we cant even remedy properly ourselves. I am lucky with my job that I have the security etc unlike some companies around here that are at serious risk of closure :|

[lyn]

there have been a few big factories close here this year.
i have thought there may be a big slump now for a while but seeing people lining up outside the northen rock bank to withdraw all their money was very worrying. :cry:

[Jan/Billy]

Yes probably.


My dad has £250k in the northern rock!! :o :o :o :o

[MightyMouth]

Slumps and booms have always been the norm here in Aberdeen with the oil business. :cry:

[lyn]

omg jan, if i were him i'd get it out now. i know it sounds silly but, if the bank does go bust then he will only get a small % back of what he has in there. i also know that by its customers withdrawing their money it most likely will go bust but did you see the news last night. there were a lot of people lining up to get their cash and so its not asx if it was just a few.
hope he doesn't lose a penny. its bad enough that people have been robbed of their pensions without others losing thier savings too.

[MightyMouth]

We were actually considering selling the house now and getting a good price and then living in the caravan until house prices crashed but it is like making money out of misery isn't it?

[lyn]

i would do that. if you don't then someone else will. i am kicking myself atm coz i could have bought this house when i first moved here. it would have cost no more than thirty grand and its worth about £250,000 now. i thought it morally wrong to buy counsil houses coz i thought there wouldn't be enough left for people who couldn't afford to buy there own home. i was bloody right about that too.
go for it. its a good way to make more money.