Has the recession effected you yet?

[ajetrumpet]

I wonder how government employees are doing even through the recession. and btw all, hasn't the recession been a news story for like 5 years now? how long has it gone on? I would assume that this supposed "recession" is going to last until the end of the world. Nowadays, recessions and recoveries can last one day (according to the news anyway). What kind of economic cycle is that!? Boy that's soooo great to look forward to. Does that mean today I can have a job and tomorrow I might not?

 

[Rabbie]

I wonder how government employees are doing even through the recession. and btw all, hasn't the recession been a news story for like 5 years now? how long has it gone on? I would assume that this supposed "recession" is going to last until the end of the world. Nowadays, recessions and recoveries can last one day (according to the news anyway). What kind of economic cycle is that!? Boy that's soooo great to look forward to. Does that mean today I can have a job and tomorrow I might not?

Certainly in the UK the recession has been going on for about 2 years max. Perhaps in the USA it has been going on longer?

 

[ajetrumpet]

Certainly in the UK the recession has been going on for about 2 years max. Perhaps in the USA it has been going on longer?

it's been more than 2 years here Rabbie, but I think the thing I was pointing out was that according to the news, today is a recession, and tomorrow is a recovery. Until the next day of course, then it's a recession again.

I would have to say that as long as you have double digit unemployment, being in a recession is being a little bit modest.

 

[Rabbie]

it's been more than 2 years here Rabbie, but I think the thing I was pointing out was that according to the news, today is a recession, and tomorrow is a recovery. Until the next day of course, then it's a recession again.

I would have to say that as long as you have double digit unemployment, being in a recession is being a little bit modest.

I believe the technical definition of recession is two or more quarters of shrinking GDP so therefore cannot be a 1 day affair. And also has no direct connection with the unemployment rate

 

[Fifty2One]

It was only declared a recession when it hit a certain level of the money market. There has been an economic downturn in many sectors prior to the declaration of depressed growth. Some people were prepared for it and others were blindsided by it by being ill advised or otherwise unprepared.

 

[ColinEssex]

It was only declared a recession when it hit a certain level of the money market.

You are wrong, Rabbie is right - 2 or more quarters of shrinking GDP = a recession.

But to be fair I suppose the two go hand in hand.

Col

 

[scott-atkinson]

Hi all,

It has been a long time since I have posted in this thread, but a lot has happened since then...

If you all recall, I lost my house early in the recession, and was left with a large shortfall of about 120k and I had appealed to the FSA regarding the low sale price..

Update...

A couple of years ago the FSA declared that the low sale price was reasonable, and upheld the shortfall, it only took them 5 years to get to that point...

3 years ago my marriage broke up after I had a breakdown through the stress.. I am much better now, and have a good relationship as a friend with my still wife, we have not divorced yet.. she has a boyfriend, he's a nice bloke, and I have a girlfriend..

I am paying a sum of money back each month towards my shortfall, but I know that it will still be there in part when I die, but it dies with me...

I am happy, I have a good life nopw and am happy, and certainly do not let any stress get on top of me anymore...

I am concerned though at the moment with House prices rising in the UK, and the low mortgage rates which will not stay low forever... I see another big problem coming on the horizon very soon....

 

[Alc]

Scott,

Don't get onto the site as often as I used to but saw your post and thought I'd reply. I remember your original issues and I'm really glad to hear that you appear to be getting back on track.

All the best.

 

[AnthonyGerrard]

Well done Scott !

 

[scott-atkinson]

Scott,

Don't get onto the site as often as I used to but saw your post and thought I'd reply. I remember your original issues and I'm really glad to hear that you appear to be getting back on track.

All the best.

Thanks Buddy

 

[scott-atkinson]

Well done Scott !

Thanks Buddy

 

[Fifty2One]

Lost of stones in your pathway but it is good to see that things are heading in the right direction.