Recession

[stopgo]

I don't know why Blur are bothering, its a one off concert and no c/d to promote. I don't think any of them need the money or want to get back permanent. Damon has moved on and the rest are doing other things. I can only think there is a charity connection, or some sort of social issue they want to promote. Not heard about the Faces return but that could be one of the better ones. Still think its about the quality of the songwriter, ofcourse you need alot of luck and be in the right place at the right time. I supose you could still break if you tour enough and you put a good live show. Interestingly Blurs first album's didn't sell, and the story as it that they saw Brit Pop takeing off and decided to change their musical style. It shows you have to adapt your style to get the first important break.

[davecttr]

Whats all this to do with P&O and the recession :confused:

 

Now which cruise line is most likely to go bust in the next year or so?

[MattyBarlow]

Whats all this to do with P&O and the recession :confused:

 

I believe the original thread didnt actually specify the recession 'and' P&O?

 

Now which cruise line is most likely to go bust in the next year or so?

 

Islands gone, OV has gone. Not directly because of the recession but im guessing rather than firms going bust there will be fleet redeployments or companies being taken over. I wonder if the days of newish cruise ships being layed up are not too far round the corner?

[lostinvegas]

From my point of view it has a lot to do with P&O and the recession. If people stop going to concerts I will lose my job or will not get as much work and will not have enough money to pay for my cruise.

 

Cruise line goes bust because people like me cannot afford to go on holiday and the cruise line staff lose their jobs. It all has a knock on effect.

 

As for Blur I bet they headline Glastonbury, have a CD out in the Autumn and then do an arena tour next December. (depending if they can get on well enough at the Hyde Park shows).

 

Chris

[stopgo]

Unfortunally posters on here fail to see the bigger picture. With the recession likely to effect every family to some extent in the comeing years.

[Gerrym]

Unfortunally posters on here fail to see the bigger picture. With the recession likely to effect every family to some extent in the comeing years.

 

 

Therefore according to you, this topic could go absoultely anywhere. On its own, thats not necessarily a bad thing.

But when you are always banging on about people being 'off topic' it is a bit rich!

 

Yes, I know, off topic!

[stopgo]

You could actually post something about the recession. The high street banks today have taken another big hit, what with the Wall Street scam that as come to light. Not to mention the collapse of the pound against the Euro.

[Gerrym]

And the cost of cruising is dropping.

 

Good news.

[stopgo]

The cost of everything is dropping [ apart from energy prices ] But the cost of cruising going down is not going to make any difference if your unemployed. As Lostinvegas pointed out early in this thread its going to have a big knock on effect. Today Sky News is reporting 50,000 postal workers jobs are at risk, and this is only the start.

[lostinvegas]

Do you not think there is a deeper problem though?

 

I mean everyone is talking about getting people spending again to get the economy going but surely one of the problems is peoples over spending?

 

Maybe I am old fashioned but I have never borrowed any money apart from buying/building a house. I save up for everything I want and never buy anything on credit. If I cannot afford it I don't buy it or I save until I can afford it.I don't smoke or take drugs and only drink in moderation.

 

Many of my friends constantly do not have any money but are always buying things on the never never, because they have to have them now? most of them are in debt on credit cards or with loans and are now complaining because they can no longer buy anything because they cannot get any credit. Then they are moaning all the time that its not fair they don't have any money.

 

Now I am not telling anyone how to spend their money but maybe if the banks had been a little more careful how much money they lent the economy could have grown at a steady rate instead of the boom and bust mentality we currently have. I am not sure mass spending is the long term answer? but then again I am an audio engineer so I don't know much about the current economic climate, I just hope the people that do think long and hard about what the next step is.

 

I spoke to an agent who was involved in booking acts on cruise ships pre 9/11 and after 9/11 his business went bust because so many cruises were canceled and the cruise lines cut their entertainment's budgets drastically. It has recovered since then so I am sure it will recover from the global recession.

[stopgo]

I agree, everybody keeps saying we must spend our way out of a reccesion. But what we are actually doing is borrowing our way out of a reccesion, which is how we got into this position in the first place. The main concern is unemployment, if we can't earn we can't spend, if we can't spend we can't get out of this reccesion. The economy is more a less whats spent by the public, whether on the high street or on holidays or buying cars. In the mid eighties one famous politician described Britain as having a warehouse economy, which is what we have become. There is no encouragement to save, low interest rates have put paid to that. So maybe thats the PMs idea interest rates so low for savers, that there is no point in hanging on to your cash. Just spend spend spend, all this is based on the fact the USA did the same thing after the war. Ofcourse that worked sixty years ago, but building an economic platform around something that worked half a century ago is just plain daft.

[MattyBarlow]

Today Sky News is reporting 50,000 postal workers jobs are at risk, and this is only the start.

 

 

I believe that is related to the potential sale of Royal mail

[stopgo]

You believe correct sir.

[LibraLass41]

My daughter looses her job in the next week. She works inside a Big W (Large retail outlet Woolworths) BUT, she doesn't even work for Woolworths , she works for Peacocks as a Assistant Manager, they have a concession store inside Big W.....So many more people besides woolworth employees loosing their jobs... what is annoying for her is a) she doesn't even work for the company going bust and b) she left a good job in Superdrug to take this job which was a better paid job at the time only 3 months ago and c) she won't even get any redundancy money!

 

ummm, Happy Christmas !:mad:

[stopgo]

My daughter looses her job in the next week. She works inside a Big W (Large retail outlet Woolworths) BUT, she doesn't even work for Woolworths , she works for Peacocks as a Assistant Manager, they have a concession store inside Big W.....So many more people besides woolworth employees loosing their jobs... what is annoying for her is a) she doesn't even work for the company going bust and b) she left a good job in Superdrug to take this job which was a better paid job at the time only 3 months ago and c) she won't even get any redundancy money!

 

ummm, Happy Christmas !:mad:

Sorry to hear about your daughter, the effects of the reccession are begining to bite in the last few months.

[stopgo]

More bad news, the chairman of Barclays bank reckons that the reccession will last at least till 2010, and more likely beyond. More on that in Mondays Panorama. Also M.F.I. to close throwing hundreds more on to the unemployment list.

[MattyBarlow]

If all these public figures just kept there mouths shut about how things bad will get then the public may never have lost as much confidence. Our finance director at work believes that the biggest mistake the Government have made was to let Alistar Darling go publice about how bad things could be back in December. he says that that is one of the key points in the whole crash.

[tom_uk]

It is possible that leading figures weren't gloomy enough in the summer/autumn. The structural evidence was there from long time ago: the widening gap between base rate and LIBOR was unprecedented. I remember reading something about in the spring - possibly on Robert Peston's blog. It was a sort-of 'this is odd' entry, with a few suggested causes. One of them was right - that the banks had lost confidence in each other's assets. Once you posit that, then the logical consequences put us where we are now: those banks that have survived unwilling to take anything in security except the hardest of assets. The result, Peston says, was that we came very close - possible to within a few hours - of the whole of the banking system system collapsing, certainly in the UK & USA.

 

The other thing I keep thinking about is this: this is the first recession of the internet age. One aspect of that it that it hit very quickly indeed - information (not to mention rumour & innuendo) circulates very quickly on the net. It's perfectly possible that when the green shoots appear, the recovery will be quicker as well.

[stopgo]

I am worried about how the goverment are going to pay off all the extra public borrowing. It go on for generations.

[MattyBarlow]

 

The other thing I keep thinking about is this: this is the first recession of the internet age. One aspect of that it that it hit very quickly indeed - information (not to mention rumour & innuendo) circulates very quickly on the net. It's perfectly possible that when the green shoots appear, the recovery will be quicker as well.

 

 

I work for a luxury Car Manufacturer on the south coast and our Chairman said exactly the same thing. He said as quick as it happened, it is likely that we should come out the ther end quickly too.

[stopgo]

That sounds wishful thinking to me. With the level of goverment debt, only ether tax rises or increase duty or council tax can pay it back. On second thoughts nothing going to be able to pay it back, it will have to be writen off. You should be alright though the demand in luxury cars should be constant.

[tom_uk]

I am worried about how the goverment are going to pay off all the extra public borrowing. It go on for generations.

 

The obvious answer is: inflation. Of course inflation is a Bad Thing (and indeed it is, a destroyer of wealth), but of you have a trillion dollars or so of debt, then 10 years of 10% inflation will make mincemeat of the real cost of that debt - it'll more than halve in that time, in cash terms. i.e if your GDP is, say, 3 Trillion dollars and your national debt is 1 Trillion dollars, if you have 10% inflation for 10 years then at the end, assuming no real growth or real diminution in output, the cash value of your GDP will be around 7 and three-quarter trillion dollars; which makes your 1 Trillion dollar national debt and interest payments on it much less significant.

 

Of course, 10 years of 10% inflation will eviscerate fixed-value assets: annuities, pensions, etc....

[stopgo]

Our manufactureing base is shrinking year on year, we have become a warehouse economy. So I don't see any growth comeing from that direction. I know it was just an example but 10% inflation would be a disaster for everybody. I don't think any democratic country could survive 10% inflation over a period of 10 years.

[MattyBarlow]

You should be alright though the demand in luxury cars should be constant.

 

 

Even the rich are cutting back. From 1st Feb we are reducing output. We generally only make cars for customers rather than stock. Many customers are still paying the 50k deposit but are saying that they want the car when things are better so that they are not "seen" to be spending money.

[lostinvegas]

On the other hand its a good time for investments. With the interest rate so low your money is doing nothing in a bank. Property is also not making any money so people with money are looking to invest in viable business's.

 

Chris