Credit Crunch Just Got Worse

RedEvo · #1 (**permalink**) 06-10-2008, 19:57

So, anyone think we are at the bottom yet?

Today's news just beggars belief and the idiots trying to fix it are a joke - IMHO.

d

Indizine · #2 (**permalink**) 06-10-2008, 20:02

I have stopped reading about it.

Mike Seddon · #3 (**permalink**) 06-10-2008, 20:14

That's funny - I#ve stopped reading about it as well. I even turn the radio of when the news is on.

RedEvo · #4 (**permalink**) 06-10-2008, 20:31

I can't read about or listen to it enough!

d

deviltronics · #5 (**permalink**) 06-10-2008, 21:31

Me too d, I can't get enough of it. I want the house prices to hit rock bottom so I can buy 10 of them at once (reckon I should be able to afford them at 20p each).

The media is what makes this crisis so good, scares the poo out of everybody, you can't turn a corner with out hearing somebody saying "So what do you think about the credit crunch"!

As to your question, I don't think we have even reached halfway to be honest, I reckon this will go well into 2010.

If you really love hearing about the crunch then I recommend the forum on http://www.housepricecrash.co.uk/

RedEvo · #6 (**permalink**) 06-10-2008, 21:44

I've been a fan of house price crash for a number of years. It's great to see their sensible musings vindicated.

d

UKSBD · #7 (**permalink**) 06-10-2008, 22:37

I've been meaning to get a bigger place for the past 12 months, was going
to do it this year, but have now put it off until next spring at the earliest.
Hopefully the market will keep crashing until then.

2jdesign · #8 (**permalink**) 06-10-2008, 23:04

Well whatever is happening in the credit crunch I have only seen a massive increase in business in the last 4 months. We are really really busy with endless quote requests and new sites coming in every week.
Is this down to the credit crunch, everyone wanting to try new ways of bringing in business? Who knows. Not me I just keep doing the work

OldWelshGuy · #9 (**permalink**) 07-10-2008, 06:58

I am not sure which way to go. one part of me says do nothing, allow natural market forces to prevail, and then use money to pick up the pieces, while another part of me is saying that we need to act soon.

America tried a bank rescue package, it didn't work, So I am leaning towards the natural market forces option. With money going directly to business via loac route rather than to banks and trickle down.

RedEvo · #10 (**permalink**) 07-10-2008, 08:11

Quote:

Originally Posted by OldWelshGuy

I am not sure which way to go. one part of me says do nothing, allow natural market forces to prevail, and then use money to pick up the pieces, while another part of me is saying that we need to act soon.

America tried a bank rescue package, it didn't work, So I am leaning towards the natural market forces option. With money going directly to business via loac route rather than to banks and trickle down.

I'm kinda with you but believe there's nothing that can be done to cure it. If you break your leg you can fuss and fart about all you like but the top and bottom of it is the six weeks needed for the bone to mend.

When something is as donald ducked as this you can carry out damage limitation but talk of solutions is misleading and naive IMHO.

The government are now seeing the fragility of the European banking system so perhaps they will stop insulting our intelligence and blaming the septics.

The bottom line here is the government must have known it would end in tears - unless they are plain stupid - but lacked the backbone to stop the great British public from being hoist on their own patard.

They decided to simply keep smiling and congratulating themselves on how well the economy was doing, conveniently forgetting the whole thing was based on irresponsible borrowing and lending.

I'm a little sad that my business may well suffer just as we've turned a significant corner despite myself being sensible through the whole thing.

As the Chinese would say - we live in interesting times.

d