World Economic Crisis

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World Economic Crisis

Postby HairyLemon » Wed Nov 12, 2008 6:32 pm

They keep mentionong this on the news and its beiggining to make me quite worried, they're kep making it sound almost apocalyptic. There are many people i know who have lost there jobs or can't find one. and i don't think i have much chance of getting one now. I hope non of you have been affected.
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Postby Hermionefan5 » Thu Nov 13, 2008 3:34 pm

A lot of people in America have lost jobs too. The auto industry is basically in deep, deep trouble and many other companies are filing for bankruptcy. People are out of jobs here and this is the highest unemployment rate in many years. A lot of people just got laid off from Ford and Chevy. My job is still secure, but people are worried about the economy and worried about their job status. Many have been evicted from their homes and the housing crisis continues for realtors and homeowners. Not many companies are hiring because they don't want to jeapoardize how much money they spend. If Christmas goes bad, I don't know what is going to happen. I hope the buyers have enough confidence to come to our stores for their holiday shopping even to buy very small gifts. I think this will help our economic situation a little bit. During the summer, when it was not as bad, I wasn't so worried. However, every day we're hearing that the stocks are plummeting and that stores like Best Buy and Starbucks are even having trouble. These stores have been big names in our country for a while so if they are in trouble, I think it's really bad. Plus, the economy does not just affect us, it affects everyone in the world so if we are doing bad that means there are millions more doing much worse. I hope that for all our sakes this crisis will turn around.
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Postby Dan » Thu Nov 13, 2008 9:34 pm

Hermionefan5 wrote:A lot of people in America have lost jobs too. The auto industry is basically in deep, deep trouble and many other companies are filing for bankruptcy. People are out of jobs here and this is the highest unemployment rate in many years. A lot of people just got laid off from Ford and Chevy. My job is still secure, but people are worried about the economy and worried about their job status. Many have been evicted from their homes and the housing crisis continues for realtors and homeowners. Not many companies are hiring because they don't want to jeapoardize how much money they spend. If Christmas goes bad, I don't know what is going to happen. I hope the buyers have enough confidence to come to our stores for their holiday shopping even to buy very small gifts. I think this will help our economic situation a little bit. During the summer, when it was not as bad, I wasn't so worried. However, every day we're hearing that the stocks are plummeting and that stores like Best Buy and Starbucks are even having trouble. These stores have been big names in our country for a while so if they are in trouble, I think it's really bad. Plus, the economy does not just affect us, it affects everyone in the world so if we are doing bad that means there are millions more doing much worse. I hope that for all our sakes this crisis will turn around.


It will certainly turn round. Worse recessions have happened in the past this one has caught people by surprise a little more because it was so fast but our economy will be back to positive growth in a year.
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Postby Thirteen-thirty-seven » Fri Nov 14, 2008 1:53 pm

I hope you're right, Dan, but no-one can tell for certain. However, it's important to keep perspective. None of us are starving. That's something to be grateful for.
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Postby Hermionefan5 » Fri Nov 14, 2008 2:12 pm

Thirteen-thirty-seven wrote:I hope you're right, Dan, but no-one can tell for certain. However, it's important to keep perspective. None of us are starving. That's something to be grateful for.


Very true. :) They say that if they don't bail out the auto industry here though one of the companies might go under. That would be bad because it would be thousands of jobs lost.
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Postby Remus » Fri Nov 14, 2008 6:41 pm

Thirteen-thirty-seven wrote:I hope you're right, Dan, but no-one can tell for certain. However, it's important to keep perspective. None of us are starving. That's something to be grateful for.


Totally agree. I never worry about money problems or anything like that due to the fact that I always have more important problems to deal with and when you think that theyreis African kids in the third world starving and compare our lives to theirs, we have a lot to be grateful for.
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Postby Hermionefan5 » Sun Nov 16, 2008 5:40 pm

AgentR wrote:
Thirteen-thirty-seven wrote:I hope you're right, Dan, but no-one can tell for certain. However, it's important to keep perspective. None of us are starving. That's something to be grateful for.


Totally agree. I never worry about money problems or anything like that due to the fact that I always have more important problems to deal with and when you think that theyreis African kids in the third world starving and compare our lives to theirs, we have a lot to be grateful for.


So true, so true.
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Postby Syrons » Sat Nov 22, 2008 1:31 am

Surely, more people are facing homelessness? More people are having their homes reprocessed from them. It’s all easy for us, we living under a roof. It easy for us to say, there’s worst problems like Africa, starvation, I for one certainly wouldn’t like to live ruff on the streets “while it’s not Africa, I wouldn’t fancy a British Winter on the streets”. Not even one day, if I didn’t have too. It’s certainly an offer, I wouldn’t take up. Not everyone on the street is a drug addict. To have to come to terms that you have failed, in looking after your family, is not worth thinking about. Some people haven’t got families, to bail them out. If people are losing their jobs, how are they going to pay their mortgages or even rent. That’s the main problem, I would say at the moment. Living on benefits, isn’t I am sure going to keep them cover. I am sure it must be hitting hard, for the lowest of lowest class. Surely if you are higher up the housing market, you would just downgrade, and live somewhere cheaper. It’s important, at the moment. That people, only buy things which they need and not unnecessary things. I know our food budget, has changed rapidly. It’s what we going to eat, it’s not I like the fancy of that, and I probably won’t eat it, in the end. Since there have been a lot of family problems, these last 3months. It’s open my mind, my mum selling our house, normally people be looking at it. We had it up for 4months, we had 2people look at it, once before. We had many people. Other people have had their homes up for sale, nearly a year now. Luckily we not going to be homeless, but we do need to sell the house! As we cannot afford it.. So that’s why I say, people will have to stop being snobbish, and down class themselves. Even changing their lifestyle if their lifestyle, is effecting there upkeep.

Anyway that’s the end of my rant.

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Postby Hermionefan5 » Mon Nov 24, 2008 8:21 pm

Yeah, there are a lot of people having their houses repossessed around here too. I feel really bad for them right now and many do not have jobs anymore either. In October, the retail job market alone went down quite a bit from last year. They are not hiring anymore at many stores so people who have just lost their jobs from stores like Linens and Things closing many of its doors won't get a job elsewhere for the holidays. I am glad that although the stock has dropped a lot, I still have my job. That's something to be thankful for on Thanksgiving this year. I am praying that we can all pull through this soon and get everyone back on their feet. It's going to be a long road ahead.
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Postby Remus » Wed Nov 26, 2008 10:39 pm

Have you seen on the news? Woolworths has gone bankrupted, how bad is that! I really like that shop too!
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Postby Creative » Thu Nov 27, 2008 10:54 am

It will be very starnge when our town no longer has a Woolworths. It is one of the main shops and there is no where else in my town that you can buy dvd's and cds.
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Postby Hazza » Sun Dec 14, 2008 7:31 pm

AgentR wrote:Have you seen on the news? Woolworths has gone bankrupted, how bad is that! I really like that shop too!


they havnt gone bankrupt

theyre still open but they are having an up to 50% off sale

theyre on the brink of bankrupsey
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Postby Fortnox » Sun Dec 14, 2008 9:02 pm

AgentR wrote:
Thirteen-thirty-seven wrote:I hope you're right, Dan, but no-one can tell for certain. However, it's important to keep perspective. None of us are starving. That's something to be grateful for.


Totally agree. I never worry about money problems or anything like that due to the fact that I always have more important problems to deal with and when you think that theyreis African kids in the third world starving and compare our lives to theirs, we have a lot to be grateful for.


Make no mistake, most third world countries have more than enough resources to maintain themselves- it is the economic exploitation of these places that tears them apart. We export huge portions of their natural resources, while selling them expensive, unnecessary goods. This is natural- one creature can't exist without eating another for nutrients. But don't forget that the next time you feel sorry for them, your sweat shop sneakers and super cheap instant noodles wouldn't exist if it weren't for their suffering.

And yeah, terrible economic downturn, all the shops are closing. It's getting worse and worse, I'm starting to look back at the guys on YouTube a few months ago locking themselves up in their basement with a gun and hundreds of canons of food, maybe they were right heh. However, rather than trying to weather it we should be doing something positive- stopping the rich from bailing themselves out. It it possible to easily survive this economic failure if we stop making it worse, if we stop creating more money that doesn't exist and feeding it into the biggest corporations. Oppose the bailout.
Everyone knows how stupid these bailouts are, hence why they KEEP getting rejected, but if they push it enough times they may eventually get through- which is why every one must stand fast and not be tricked into supporting this mass madness, the bailouts only serve to help the rich and leave massive debt for the poor.
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Postby chocolatefudgecake » Tue Dec 23, 2008 12:03 am

Fortnox wrote: However, rather than trying to weather it we should be doing something positive- stopping the rich from bailing themselves out. It it possible to easily survive this economic failure if we stop making it worse, if we stop creating more money that doesn't exist and feeding it into the biggest corporations. Oppose the bailout.
Everyone knows how stupid these bailouts are, hence why they KEEP getting rejected, but if they push it enough times they may eventually get through- which is why every one must stand fast and not be tricked into supporting this mass madness, the bailouts only serve to help the rich and leave massive debt for the poor.


The problam is the rich employ a lot of people. when a big company goes down, lots of people lose their jobs which makes it even worse for the poor. So the bailouts aren't complete madness.
In addition to this, some companies are interlocked, so when one goes down, it can cause other's to go down too.

But i get what you're saying about creating more money, which always makes things worse. really they need to find the money from somewhere else.

Fortnox wrote:It it possible to easily survive this economic failure if we stop making it worse


We'll survive it anyway, whatever happens. As someone said early, there have been worse recessions in the past.

Hazza wrote:
AgentR wrote:Have you seen on the news? Woolworths has gone bankrupted, how bad is that! I really like that shop too!


they havnt gone bankrupt

theyre still open but they are having an up to 50% off sale

theyre on the brink of bankrupsey


I think, at the moment, woolworths is shutting in/for january. It's annoying, actually, as not only do i love woolworths, but in our town center, the only place that sells CD's and DVD's will be WHSmith. And their selection is very limited. It's one of the big shops there too.
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Postby Dan » Tue Dec 23, 2008 1:06 am

chocolatefudgecake wrote:
Fortnox wrote: However, rather than trying to weather it we should be doing something positive- stopping the rich from bailing themselves out. It it possible to easily survive this economic failure if we stop making it worse, if we stop creating more money that doesn't exist and feeding it into the biggest corporations. Oppose the bailout.
Everyone knows how stupid these bailouts are, hence why they KEEP getting rejected, but if they push it enough times they may eventually get through- which is why every one must stand fast and not be tricked into supporting this mass madness, the bailouts only serve to help the rich and leave massive debt for the poor.


The problam is the rich employ a lot of people. when a big company goes down, lots of people lose their jobs which makes it even worse for the poor. So the bailouts aren't complete madness.
In addition to this, some companies are interlocked, so when one goes down, it can cause other's to go down too.

But i get what you're saying about creating more money, which always makes things worse. really they need to find the money from somewhere else.

Fortnox wrote:It it possible to easily survive this economic failure if we stop making it worse


We'll survive it anyway, whatever happens. As someone said early, there have been worse recessions in the past.

Hazza wrote:
AgentR wrote:Have you seen on the news? Woolworths has gone bankrupted, how bad is that! I really like that shop too!


they havnt gone bankrupt

theyre still open but they are having an up to 50% off sale

theyre on the brink of bankrupsey


I think, at the moment, woolworths is shutting in/for january. It's annoying, actually, as not only do i love woolworths, but in our town center, the only place that sells CD's and DVD's will be WHSmith. And their selection is very limited. It's one of the big shops there too.


I agree, our Woolworths is going and it's huge.

The government have done all they can to help, it'd be worse had they done nothing. The 1992 recession was much worse than this because the government did not do anything.
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