Christmas 2008

[godoftrading]

Christmas 2001 and 2002 was real bad. It was hard to keep positive with a recession, the stock market plunging and 9/11 still fresh in everyone's heads. However, there were still jobs to be had during those days. Not all industries were shrinking. It wasnt all bad news.

This time is different. Every industry out there is shrinking. Some companies have had a hiring freeze going on for several months. I cant find one industry where there is any hint of bullishness. There is news of more lay-offs to come in 2008. Major companies have gone out of business are on the brink of going out of business. Local businesses that were in business for over 20 years are now closing their doors.

Even if you have a secure job, you cant expect any growth, big raises, promotions or bonuses. Basically, you just walk in the door for a check each day and hope that tomorrow wont be your last day.

Houses continue plunging in value with no end in site.

I can only surmise that Christmas 2008 will be the worst out of any in a few decades....

 

[Hoggums]

I think at the moment people are able to forget about the doom and gloom and make the most of this Xmas. People being laid off are still living off their redundancy/notice period.

I think Xmas 2009 will be far worse. By then the money's run out.

 

[TomTom]

What do we spend extra during xmas though ?
OK say £500 for preasents, £80 beers/wine/ect/ £100 Extra for food.
£680 Extra spends.
Thats covered if people put away £13 a week to cover Xmas.
That was a thing my parents still do now, some weeks they put a little extra in the pot.

 

[Skill Leverage]

Christmas 2001 and 2002 was real bad. It was hard to keep positive with a recession, the stock market plunging and 9/11 still fresh in everyone's heads. However, there were still jobs to be had during those days. Not all industries were shrinking. It wasnt all bad news.

This time is different. Every industry out there is shrinking. Some companies have had a hiring freeze going on for several months. I cant find one industry where there is any hint of bullishness. There is news of more lay-offs to come in 2008. Major companies have gone out of business are on the brink of going out of business. Local businesses that were in business for over 20 years are now closing their doors.

Even if you have a secure job, you cant expect any growth, big raises, promotions or bonuses. Basically, you just walk in the door for a check each day and hope that tomorrow wont be your last day.

Houses continue plunging in value with no end in site.

I can only surmise that Christmas 2008 will be the worst out of any in a few decades....

There are sectors, or sectors within sectors, that will always grow during a recession - Aldi and Lidl for example are building new stores all over the UK, which will create new jobs as they continue to increase their market share.

Most 'vice' industries also perform well in recessions - tobacco/alcohol companies, casinos etc.

I'm not arguing that this recession is worse than Clinton's; we have so much debt now that undoubtedly it will be. It's really not the end of the world though.

 

[JRP2891]

Personally for me Christmas 2008 will be a welcome relief from the persistent media doom i've had the displeasure of listening to for the last 6 months. I actually have a huge problem with how the media report these issues, both in their "doomsayer's talk", and also in their knowledge. When some of the so called financial journalists attempt to go into depth and detail, they reveal that they are actually lacking in understanding some of the main issues of the credit problems.

 

[luckyd1976]

Damn it Guys dont quote this fool. Thats the whole point of my ignore button. If I wanted to hear what this GOD has to say I can just google him to see his thousands of posts saying the EXACT SAME copy and pastes ALL over the inet.

 

[luckyd1976]

Merry Christmas Everyone and Have a Happy New YEAR!!!

 

[BSD]