it has affected me greatly...
because I can now buy far more stuff cheaply.

Frankly, all this has done is burst the inflated hype-bubble that Brown and Blair created - over-priced ex-council tenaments in downtown Basra, sorry, Birmingham...all those mouth-breathers being given thousands on credit, buying huge TVs and sofas from DFS whilst their kids are gorging on Turkey Twizzlers..

So, whilst I laugh my ass off at "Darren and Tracy from Manchester" who are facing repossession for blowing £40,000 on tat and not paying the mortgage for six months, I'm earning a good income in a secure environment (as long as people want heating and cars and electricity, this company will have a market to sell to), I've got my rent fixed for the next two years and my debts are going down as I pay them off. I'm due a nice bonus and my first kid is due in April/May - all in all, I'm loving it!

Oh yeah, and because they are so desperate to get people travelling on holiday, you can basically forget how weak the pound might be - I just booked a fortnights' snowboarding for less than I paid for a week this time last year...

If you've been sensible and not bought what you can't afford (i.e if you're a shelf-stacker on £5 an hour, don't think you can realistically afford to own a 5 bedroom house with a pool without a lottery win), or have lived through the last two recessions and have a good income and good credit rating, then you can get some great deals, with shops falling over themselves to get your custom.

Frankly, I'm having a great time...it seems, from the previous posts, that I am not alone, either. So why all the hysteria on the news?
(Chad, Thu 22 Jan 2009, 14:06, 1 reply)

Because
A lot of us have either been made redundant, or have our previously secure jobs under threat; making the debts (ie mortgages) which were previously well withing our range now entirely unaffordable. At the same time, the said debts have risen, due to increasing interest rates (despite the base rate falling - this has only had a positive effect for those on variable/tracker mortgages, not for most other types of debts, it is certainly harder to remortgage now - a big factor for anyone who was with Northern Rock); whilst interest rates on our savings have plummeted. Simultaneously, the basic cost of living (especially home fuel and food prices) has risen - neither the current sales nor the VAT decrease have much impact on those of us who previously lived relatively frugaly.

Whilst the recession (or whatever you want to call it) has had a positive impact for some, it certainly hasn't for me, my family and friends, many of whom are out of work for the first time in their lives.

Not meaning to put a dampner on all the hummus, but its a bit disheartning to read all the disparaging comments from people who are presumably in industries untouched by these issues. Its not just the stupid and the greedy who are affected.
(cherrynicola, Thu 22 Jan 2009, 20:01, closed)