back to the (credit crunch)

[dizzyblonde]

Originally Posted by markryker

Things not affected us chocolate makers yet either, seems everyone still needs their fix

yes indeeedy. When peeps are down they reach choccy, booze, fags and gambling. Heres hoping the swiss don't decide to pull the plug on their British factory

[BigFootIsBlurry]

I've been affected to an extent, they're going to up my working week and freeze the pay, no bonuses for a couple of years and less perks. Its better than losing the job altogether though, I've got friends fresh out of uni with me this summer who are stuck washing dishes full time, cant get anything else for love nor money.

At the moment we have not been badly affected. If anything we have been benefitting out of it. Cost of food, etc has gone down and it's left us with more cash per month.
In a couple of years time, it will be the opposite!

[Dave20046]

A lot of people have been affected, I was considered to be booted but survived. My mums a teacher and she's at risk as her school are making redundancies. This recession's going to be a massive **** up...but I don't like talking about it on the .org, it's not for doom and gloom it's my happy place

[dizzyblonde]

Originally Posted by BigFootIsBlurry

I've got friends fresh out of uni with me this summer who are stuck washing dishes full time, cant get anything else for love nor money.

ahh yes, that chestnut. Last year for me and Im Indoors was a particularly headbanging year, hip surgery and final year were a horrid combo. This year was going to be a hopefully significant change for him in his career, and so many dreams were planned for our future together. Its hard enough for graduates, but this is bloody awful.
For the moment I keep telling him hes lucky to be making chocolate and getting a poor wage, than not having a job at all, its frustrating him in a huge way. The job was only going to be there for as long as he was studying, but now hes stuck with it. Its not particularly a great subject to chat about in our house. So I suppose in a way we are affected by this credit crunch.

Our work has slowed down, but as I'm on slave wages it doesn't really affect me.

[keith_d]

In previous bad times the pattern has been:

1) Cost savings, travel ban, etc.
2) Freeze on hiring new staff
3) Redundancies

So far, we're only on step 1, but everyone's expecting 2 and 3 to follow in the next financial year when our customer's budgets dry up.

Keith.

I must be shopping in the wrong places-here in Scotland food prices just seem to go up and up. I know I sound like I'm a pensioner.

[keith_d]

Someone asked where the money has gone.

Some of it has been lost by lending it to americans with no hope of paying it back
Some of it has been taken back by the foreigners who lent it to our banks
Some of it is sitting in banks who daren't lend it because they don't know who is going under next.

A whole lot more is fictional money. For example, the shares in a company are only worth what someone else will pay for them. If all the buyers decide overnight that a company is worthless, the people holding that stock can only sell at a loss or hold out and hope it recovers.

The actual value of the company assets and future cashflow haven't changed overnight, but the pensions and banks holding those shares still have to declare huge losses at some point. Where has the money gone? Nowhere!!

Just my monday thoughts,

Keith.

I'm in the creative design sector, there was 80 of us last week (large for its kind), there is now 64

my other mates in the same business has see 50% go

there are no jobs for those who has lost their either...