recession!!how bad do you think things will go?

irishvamp90

i know people are sick of doom and gloom but the recession has hit my family with my dad and uncle affected.we live simple lives which will help but how bad will things go?trying to be realistic here and not the it will come along again gang.in college and working retail/pub!

minxie

well where im working we have just been moved off
3 nights to 4 days come this feb, still a temp after
nearly 3 years so not looking too good
for us at the minute.....:(
trying to keep optimistic tho chin up an all
that , still got my job at the minute:), its hard times tho tbh

tallaght01

My parents have just lost thousands off their pensions.

My sister has been put on a 4 day week.

My other sister is about to leave law school, and will have zero chance of a job.

Actual banks are going bankrupt.

I think it's going to be pretty bad. I'm not worried for me, as I have a safe, long term contract. But I'm pretty worried for my family.

Esel

Think Depression, not recession.

RATM

irishvamp90 wrote: »

i know people are sick of doom and gloom but the recession has hit my family with my dad and uncles.we live simple lives which will help but how bad will things go?trying to be realistic here and not the it will come along again gang

On the downside it's not gonna be nice for those who lost or are about to lose their jobs. As always the lower skilled people will lose the most as middle skilled people squeeze them and take their regular type of jobs, if and when available.

On the upside this will shake up the economy, devalue the housing market nice and proper and sort out the wheat from the chaff. It's gonna be an all out price war which might help make the recession a tad bit more bearable for some but not all.

brendansmith

I would be surprised if the wheel becomes uninvented before this sh1t comes right again.

SV

It's going to be the worst few years for a few people, and the best few for another group of people.
Fast forward 10years and we'll all be back to square one again.

minxie

and i only realised that gov levy coming outta
my wages this week.. in all honesty whats
that for i have no idea??

brendansmith

ClioV6 wrote: »

It's going to be the worst few years for a few people, and the best few for another group of people.
Fast forward 10years and we'll all be back to square one again.

I certainly hope it all goes back to year 0 again.

http://2.bp.blogspot.com/_aMoi5cmV_uQ/SJvkbhc6uGI/AAAAAAAAAMs/oiZCkOxSDEY/s400/225px-Pol_Pot2.jpg

irishvamp90

goverment levy??jesus i better start getting pay slips

Danbo!

minxie1 wrote: »

and i only realised that gov levy coming outta
my wages this week.. in all honesty whats
that for i have no idea??

Basically, you now own a small fraction of a bank

Sean Quagmire

minxie1 wrote: »

and i only realised that gov levy coming outta
my wages this week.. in all honesty whats
that for i have no idea??

yea noticed that this morning - absolute bastards
A country on it's knees and its faith rests on the shoulders of idiots.

Show_me_Safety

it has yet to effect me and people i know in a real way.
parents pension and investments are down, they're house has at least a quarter mil wiped away from the value...but thats all paper wealth so they're grand.

i think it will get quite bad for those who made stupid choices...ie two cars, top-up MTG, further loans, keeping up with the jones's, a few holidays a year.

i feel bad for people who are loosong there jobs due to selfish owners, managers and investors who are still going after super-normal profits.

4zn76tysfajdxp

irishvamp90 wrote: »

recession!!how bad do you think things will go? !

Great! Everything's gonna be aaaaaalllllllllllright!

Pighead

Recession won't be as bad as everybody is saying but it'll be bad all the same. Like it's not ever gonna get to Cheeky_gal levels of badness but it's definitely gonna stay brendansmithishly bad for a while yet.

Ross_Mahon

In my place, They have used the whole Recession thing as a means to motivate people, And were even using it as a threat

"If you don't work harder, You wont have a job after the new year"

We were just under our target sales, So i just brushed them threats off, We recently got a 6% wage increase? I dont know why? Its the boot coming soon :eek:

edanto

noblestee wrote: »

Basically, you now own a small fraction of a bank

Or more to the point, we are now part owners of loans which are unlikely to be repaid, which were securitised on property holdings based on a peak bubble valuations.

And this done close to the 90th anniversary of the first Dáil, a product of our rebellion against unfair land ownership and bad government. Sickening.

Sanjuro

I reckon it's about time to crack each others' heads open and feast on what flows forth. At least, from watching the news, that's what I think they're going to suggest.

Sean Quagmire

Pighead wrote: »

Recession won't be as bad as everybody is saying but it'll be bad all the same. Like it's not ever gonna get to Cheeky_gal levels of badness but it's definitely gonna stay brendansmithishly bad for a while yet.

finally, somebody puts its straight :pac:

Gummy Panda

was there some new duty introduced on laser cards. I got debited 5 euro from my bank account yesterday for government laser card duty. I thought they take that in april?

corkhero

The media are making this recession a lot worse than it actually is.

I mean they havent stopped on about it.

we know we are in a recession ffs, stop rammin it down our throats.

destroyer

Right, 1% less in the wage packet. House prices down 20%, new cars down 20% (secondhands a lot more) , fuel prices down 40%; food,
clothes ,shoes everything on sale!
Interest rates down ,electricial goods slashed,
labour cheaper, if you need a builder ,plumber ,carpenter etc.
(and easier to get).
All this and 90% of us still have a job to go to.,
(95%, if you dont count those who dont want to work). HAPPY DAYS!!!

Recession??? i LOVE it, BRING IT ON ! !

Hagar

There's going to be some crippled child in Ethiopia with cataracts walking 12 miles to a post office to send us €2 to feed an Irish baby before this is over.

Quazzie

Sean Quagmire wrote: »

yea noticed that this morning - absolute bastards
A country on it's knees and its faith rests on the shoulders of idiots.

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

mickos

I earn as much as I always did. Was due a raise in December that hasn't come through but I can live with that. Everything is getting cheaper so for me so far so good. The only effect I can see it having on me is when the government raises taxes to pay for theirs and other peoples mistakes. Feel bad for all the people losing their jobs alrite but you've gotta be optimistic all this gloom and doom is soul destroying. Its a great little country if they could only run it:rolleyes:

destroyer

Quazzie2002 wrote: »

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

Very true 1% is negligable, and money has to come from somewhere....
......... they are still idiots though

LeahBaby

Oh my God I hate reccesion talk.

Leah in the shop yesterday..

Nosey,has to know it all lady : Jaysus, I heard about your job over there.
Leah: Ah yeah, sure what can ya do(hoping lady takes this as a rhetorical question)
Nosey Bitch: Jaysus, there's no jobs out there. It's scary. I know this lady who's son works in...
What the?!
What are you doing ?!?!

Noooooooooooooooo!!!!!

*Warning, I will stab anyone with a lotto pen who talks to me about the recession.

Zascar

Excellent article from Jeremy Clarkson, worth a read:
http://www.timesonline.co.uk/tol/driving/jeremy_clarkson/article5292547.ece

I think mainly this is because the government is not telling us the truth. It’s painting Gordon Brown as a global economic messiah and fiddling about with Vat, pretending that the coming recession will be bad. But that it can deal with it.

I don’t think it can. I have spoken to a couple of pretty senior bankers in the past couple of weeks and their story is rather different. They don’t refer to the looming problems as being like 1992 or even 1929. They talk about a total financial meltdown. They talk about the End of Days.

Quazzie

destroyer wrote: »

Very true 1% is negligable, and money has to come from somewhere....
......... they are still idiots though

I agree. Its what they do with the money I personally have problems with.

I think people are underestimating how potentially serious this could be. I'll be over the moon if all I end up losing is 1% of my wages

Gummy Panda

Zascar wrote: »

Excellent article from Jeremy Clarkson, worth a read:
http://www.timesonline.co.uk/tol/driving/jeremy_clarkson/article5292547.ece

End of days!!! :eek:

Does this mean i should buy the last of V8 interceptors and pimp out a car like mad max?

big b

Quazzie2002 wrote: »

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

sorry, Minister

biko

Hopefully not much worse but I think this year is going to be really crap.
As of yet I don't see any way out of it, no light at the end of the tunnel.

stovelid

irishvamp90 wrote: »

recession!!how bad do you think things will go?

This bad...

Ostrom

Quazzie2002 wrote: »

How are they idiots. Money has to be got into the Governments books somehow. a 1% levy is hardly the end of the world for anyone, and if it is I'd be reviewing my lifestyle/salary. I hate when people crib about how the Government are taking money off them, Do they not realise that the money has to come from somewhere and it can't all be achieved on cutbacks in expenditure.

+1

I'm sick/ was sick of the arguing over the public pay increase

I dont know who was pushing for it, but none of us wanted or needed it

Blazer

Going to get worse....especially in Limerick with the 1900 Dell jobs gone by end of Jan 2010 and about 10,000 other jobs as a knock on effect.
My sister works in an auctioneer's firm in Cork and they haven't sold a house since last July.
She's already on a 4 day week and next week or so the place could actually be closed down.
Thank christ I'm ok for another year or two which by that time hopefully the economy will be starting to pick up.
Anyone thinking that the recession is going to end this year is as clearly deluded as the fools who all denied 2 years ago we were heading for one.

mickoneill30

efla wrote: »

+1

I'm sick/ was sick of the arguing over the public pay increase

I dont know who was pushing for it, but none of us wanted or needed it

Lots of people wanted it. I was tired of hearing

Sure the (insert public profession here) do a great job, they deserve more money. That was brought up whenever anybody was threatening strikes. When I'd ask "do you know how much they earn now?" or "do you realise this money comes from taxes?". I'd get the dull stares.

The media have a lot to do with this. If it's boring information like facts or numbers we don't get it. If it's a percentage or a sensationalist headline we get to read it.

So far in my company I've avoided a round of layoffs. Don't have any idea how long I'll keep avoiding that bullet though.

mikom

How bad will it get?
Something like this I guess......


And in the death
As the last few corpses lay rotting on the slimy
thoroughfare
The shutters lifted in inches in Temperance Building
High on Poacher’s Hill
And red, mutant eyes gaze down on Hunger City
No more big wheels

Fleas the size of rats sucked on rats the size of cats
And ten thousand peoploids split into small tribes
Coverting the highest of the sterile skyscrapers
Like packs of dogs assaulting the glass fronts of Love-Me Avenue
Ripping and rewrapping mink and shiny silver fox, now legwarmers
Family badge of sapphire and cracked emerald
Any day now
The Year of the Diamond Dogs

“This ain’t Rock’n’Roll
This is Genocide”
.
.

manafana

im not agianst the 1% im pissed off that most this is gone on a dole that has been raised by 10euro week, and before those who are unlucky to have lost work, im talkin bout those without a prsi contribution for last year who now have an extra 10euro to spend in time when everything is getting that bit cheaper its a joke.

Collie D

manafana wrote: »

im not agianst the 1% im pissed off that most this is gone on a dole that has been raised by 10euro week, and before those who are unlucky to have lost work, im talkin bout those without a prsi contribution for last year who now have an extra 10euro to spend in time when everything is getting that bit cheaper its a joke.

Ah of course those on the dole are better off :rolleyes:

ejmaztec

There seem to be a few doom merchants trying to talk down the Euro, implying that it's going to collapse. Some obnoxious Daily Telegraph American-born journo, Janet Daley, managed to slip it in during BBC Question Time that it would be gone in 6 months time. These people should keep their fucking gobs shut.

Dexters16

tbh the governement have done things backwards, they should've taxed us more during the good times when the country was booming and then slashed taxes when the going got tough to get us all spending again! its simple economics but no they decided to let us get rich and not raise tax and then tax us more when we're losing jobs and going downhill! idiots is an understatement! the only way we can get out of this is to spend money in order to keep each other in jobs!

the last recession seen prices of guiness hit 1.30!!! eh i dunno bout ye but im still paying 4.00!, also prices of groceries haven't budged much at all.

what about all the cocaine they seized in cork last year?? if it was worth 500 mil then why not sell it back out and make 500 mil profit for the economy? it'd be a quick fix temporarily.

i had another good point to make but forgot it for the moment, will be back later with it.....

Collie D

Dexters16 wrote: »

tbh the governement have done things backwards, they should've taxed us more during the good times when the country was booming and then slashed taxes when the going got tough to get us all spending again! its simple economics but no they decided to let us get rich and not raise tax and then tax us more when we're losing jobs and going downhill! idiots is an understatement! the only way we can get out of this is to spend money in order to keep each other in jobs!

Good point but it probably wouldn't have won them many votes. Everybody was having too much of a good time.

Dexters16 wrote: »

what about all the cocaine they seized in cork last year?? if it was worth 500 mil then why not sell it back out and make 500 mil profit for the economy? it'd be a quick fix temporarily.

They put it into the water supply in the hope that people would forget about the recession and stop giving them grief.[/QUOTE]

Dexters16 wrote: »

i had another good point to make but forgot it for the moment, will be back later with it.....

See? It's working already

Dexters16

ha, so it is!! my other point was that the media have made a right c**t of things! because of them they ppl are running scared, companies not taking the risk so laying off people! i reckon for all of us to save money we should not buy these newspapers and tabloids and see how they like it!!! think if you buy a paper for 2euro each day you'll save 14euro a week! and ya wont need to be reading the b******t they try to feed us with!

also, for the last 10-15 years companies have made huge profits from the celtic tiger, surely to god they could run for one year with the current staff one a small deficit!! just cause they wont make a 40% profit margin or that they just cut jobs!

i hope the rumours are true that the polish having gone home from ireland are looking to earn the same wages as here and that Dell and the likes dont save any money by moving! speaking about dell though, a neighbour of mine worked for them and they were building that plant in poland the last 3-5 years so it was always in the pipeline.

zuutroy

Hagar wrote: »

There's going to be some crippled child in Ethiopia with cataracts walking 12 miles to a post office to send us €2 to feed an Irish baby before this is over.

Top class.:D

mickoneill30

Dexters16 wrote: »

i reckon for all of us to save money we should not buy these newspapers and tabloids and see how they like it!!! think if you buy a paper for 2euro each day you'll save 14euro a week! and ya wont need to be reading the b******t they try to feed us with!

Good advice for the boom times too.

ejmaztec

Dexters16 wrote: »

ha, so it is!! my other point was that the media have made a right c**t of things! because of them they ppl are running scared, companies not taking the risk so laying off people! i reckon for all of us to save money we should not buy these newspapers and tabloids and see how they like it!!! think if you buy a paper for 2euro each day you'll save 14euro a week! and ya wont need to be reading the b******t they try to feed us with!

also, for the last 10-15 years companies have made huge profits from the celtic tiger, surely to god they could run for one year with the current staff one a small deficit!! just cause they wont make a 40% profit margin or that they just cut jobs!

i hope the rumours are true that the polish having gone home from ireland are looking to earn the same wages as here and that Dell and the likes dont save any money by moving! speaking about dell though, a neighbour of mine worked for them and they were building that plant in poland the last 3-5 years so it was always in the pipeline.

Had they any reserves, this would probably be possible, but not only did many of them spend their reserves during the boom, on properties etc, they also borrowed big bucks to cover the funds that had been pissed away. In addition to the loans, they then decided that it would be a great idea to have the biggest overdraft that they could squeeze out of their local friendly bank manager.

And then the the income stopped flowing in...................:eek:

Dexters16

anyone happen to know who replaced the celtic tiger with the celtic donkey?

Futurism

I'll know it's bad when I can't wipe my arse with money.

.boards.ie

It is going to get a lot worse before it gets better. People who think it is going to be ok anytime soon are deluding themselves.

It is one big snowball effect that has only just started, if even. The knock on effect of companies going bust or downsizing, the job losses, people who bought over priced houses when they couldn't really afford them, the repossessions and the general sh1t that most of the worlds economies are in means a ruff ride for at least 2 to 3 years.

I will be waiting in the wings like a vulture to pick the bones off the carcass of one dead Celtic tiger and all the stupid people, with the master plan of making a mint during the next boom :pac:

m5ex9oqjawdg2i

brendansmith wrote: »

I would be surprised if the wheel becomes uninvented before this sh1t comes right again.

Explain how something can become uninvented...? Is that possible? :P

I think the worste is yet to come, in 2010 things will begin to come back slowly, it will be a good few years before things are back to normal. I give it 4 years.

You're not going to die, you might lose your new BMW X5, your 6 bedroom luxury home and you might actually have to shop in aldi and lidl (Which have very high quality produce). People are afraid they won't have all these luxuries that we have been used to for the past 15+ years. It's not the end of the world, that date is set in 2012 sometime

For people not working, we can still manage, I am sure of it. It will be tough, but we will get through it.

tribulus

Jaelynn Sticky Glove wrote: »

Explain how something can become uninvented...? Is that possible? :P

I think the worste is yet to come, in 2010 things will begin to come back slowly, it will be a good few years before things are back to normal. I give it 4 years.

You're not going to die, you might lose your new BMW X5, your 6 bedroom luxury home and you might actually have to shop in aldi and lidl (Which have very high quality produce). People are afraid they won't have all these luxuries that we have been used to for the past 15+ years. It's not the end of the world, that date is set in 2012 sometime

For people not working, we can still manage, I am sure of it. It will be tough, but we will get through it.

You're very upbeat man, did you get a job :pac: