What does the near future hold?

[Jonah2012]

You're highlighting the issue, people still seem unsure as to whether the world is in economic melt down or are things pretty much the same as they have always been for the majority of people.

The trouble is the media blowing stuff out of proportion in my opinion and the average joe thinks "better stop spending money".

You shouldn't worry anyway with that teachers salary and all those days off with that massive pension an all

I'm unemployed but have a plan, I once read a thread on another forum from Thailand hosted in the UK. It was about been careful with money and that it's possible to live off b30.000 each month. It was a few years ago and I'm sure that it was a prediction of the future and what is happeneing now with the economy. Don't borrow or spend, don't drink to much.

The forum

 

[MH1]

This has been the situation for over two years now. As i said i still have yet to feel any pain and we officially came out of recession.

What more is there to come? Is it really worse than what we have already seen?

Many people have not felt any real pain yet, with low interest rates many might actually be better off. That said, there are the other's, and it is a large proportion of the UK who are in massive debt, with little real prospect of ever paying it off.

What more is to come? Fewer jobs, more job insecurity, more repossessions, and IMO ye it will be a lot worse than anything seen just yet.

Consider the howls of protest at the current GOV spending cuts, which equate to 0.7% in real terms, most of which have yet to come into effect. No wonder the Greeks are really upset at looking at real increases in taxation, and that is simply to try and not default whilst they organise another bailout. Greece will almost certainly default, and IF that happens the resulting problems will have real effects in the UK.

Put simply the West has priced itself out of work, the rising economies of the world are taking the money out of our pockets, and this and the next generation will have little to look forward to in general. As always, a small number will do well, but are the recent rioters likly to be paying your state pensions in 30 years time?

I have advised my daughter to qualify as a teacher and emigrate asap.

 

[James Greg]

I think the economic situation is pretty unsure. Any unnatural booming gets a downfall at once and without any prediction and people are seen on roads, bankrupt. I think caution is needed the most.

 

[Dave Kinnel]

It appears that those members under 30 believe we are out of recession and things are just rosy. Those of use that have been through them before in the early 80's and again in the late 80's/early 90's can see that this one is playing out very differently.

What's the difference, for the UK, from what I have seen, is this time round the credit is not available as it was before so we can't spend our way out of recession this time. As I said in an earlier post a lot of adjustment of personal and business finance is required. By adjustment I mean living within means on a personal level, and businesses only growing truly organically as cash flow allows. And that will take many years to stabilise.

 

[Quicksilver]

Hi Dave,
I have grown my business 'organically'. No loans, No overdraft just re-investing money that has been earnt. No one to chase me, no one to answer to. Isn't that what being self employed/buisness owner is all about. If you owe money to people (i.e. the bank!) then you are working for them! Could this be why I haven't suffered too much? Along with low overheads and high profit margin?
I wouldn't agree that I'm nieve and haven't stated that we are out of the recession. I am asking for your opinion as to what is going to happen. Like you say, you have been through it before, you have more experience, I would like to benefit from this (if your willing to offer advice). If you and the majority of responses pointed to another bout of low spending and businesses going bust, then I would be a fool to ignore you.
It seems to be a split opinion so far, whether thats divided by location or industry, I'm yet to figure out.
My opinion is that now is booming, but I need to be very careful early next year. I feel fairly safe but there is a nagging anxiety following me about!

 

[hmmm]

http://beforeitsnews.com/story/1191...rty_Canadas_Guaranteed_Income_Experiment.html

 

[Quicksilver]

Hmmm, not sure what relevance that article has?

 

[hmmm]

i put it on as we are talking about future,in life, business and people.
it has a relevance of could it come about and work in future.fix things that are broken.
to me personally i feel that type of thing could only be more of a positive and than a negative.
its easy peezy.
thanks for taking time to read it.
its an interesting concept yet so very simple