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The "R" word


Paul Kennedy
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Seems as though the BBC have told reporters not to use the word "recession" :shock:...even though the Prime Minister, Chancellor and Governor of the Bank of England do, seems they have to use the word "downturn" or the phrase, "global financial crisis" which could be a bit of a problem since I also understand they have been told not to use the word "crisis" in relation to current events...so I guess best use " global financial downturn". :wink:

 

Just been reading an article in the Independent, seems its not going to be bad for everybody:

 

"For those in the public sector, with usually generous pensions and more job security, things could even be quite comfortable. If you have a new or newish large "tracker" mortgage linked to the Bank of England rate then the big cuts in rates we might still see next year ? down to maybe 2.5 per cent from their 4.5 per cent level today ? will deliver a substantial rise in disposable income."

 

I understand some Civil Servants are planning to go out on strike for more money in November...maybe they should count their blessings.

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I think the biggest danger is everyone talking us into a deeper recession than we are likely to get.

 

I get phonecalls now on a regular basis from cold callers whose opening lines usually consist of "with the current economic recession, we can save you money" type of phrase.

 

I always tell them to go away...... and not always politely... bloody scaremongers!

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I get phonecalls now on a regular basis from cold callers whose opening lines usually consist of "with the current economic recession, we can save you money" type of phrase.

 

I always tell them to go away...... and not always politely... bloody scaremongers!

 

Not just scaremonering it seems.... we've had a few that are obviously hoping to cash in on finding people with hopefull debts :?

 

Be warned if you get a call from a company such as DMS? Debt Collections like we did on Friday night :shock:

 

Won't bore you all with the whole conversation but it was rather odd and I received all sorts of twaddle from the foreign bloke about being from a debt collection agency and it was about our so called unpaid debts and bills... that was until I said I had no idea what he was talking about and could he explain exactly which debts he was talking about?

 

His answer was then ' ...errr.... credit cards....err loans.. err I seem to have the wrong information Madam, goodnight....' and he hung up :shock:

 

Now had I had some known unpaid debts or loans that were worrying me the outcome may have been a bit different and he could have got away with it :shock::evil:

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I always start the conversation, how have you got my number, it is a private one and I'm now reporting you...tends to get rid of the unwanted calls. The other way is to have your phone set not to receive calls from undisclosed numbers. :wink:

 

Interestingly with regards to recession, there only has to be a very minor amount of negative growth (0.1% for example) for it to be declared a recession, I think the fear is it might be several percent. Given the fall in the value of the ?, British exporters might do quite well as their products become cheaper for overseas buyers.....although our imports become more expensive.

 

Another point, if interest rates are slashed, those who have borrowed wrecklessly will benefit, whilst those who have saved sensibly will be penalised. :shock:

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Interestingly with regards to recession, there only has to be a very minor amount of negative growth (0.1% for example) for it to be declared a recession, :shock:

 

Doesn't that negative growth need to continue for several months in order for it to be declared a recession, as happened under John Major and Maggie Thatcher :?:?:?

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Strangely enough, a couple of weeks ago I enquired to a couple of on-line sites about a very small loan, and have been inundated with calls and e mails ever since from companies wanting to lend me money. What credit crunch :?::?::?:

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They are all vultures Asp :wink:

 

You need money... they lend it to you with interest of course... and when you can't pay it back (which they hope you can't :wink: ) they then hit you with huge default fees.

 

If you still don't pay they just refer it to the heavy handed bailiffs who add further huge fees for their 'service' which is continuously added onto your original debt :shock::roll:

 

Infact WHY are independent bailiffs and debt collection agencies allowed to get away with charging whatever they like in additional costs ..... when bailiffs who are employed by the actual courts don't actually add any additional fees :?:

 

Strange :?

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