1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

When do you think we will come out of the UK recession?

Discussion in 'Employment & Jobs' started by fatp, Jan 20, 2009.

  1. fatp

    fatp Byte Poster

    196
    7
    44
    Well ok... So we are officially in a recession!

    So when do you think we will come out of the UK recession....

    This year perhaps, sometime early next year perhaps?

    The reason why I am asking is there has been a serious decline in jobs in the market and was wonderin when people think the employment situation may get better.
     
    Certifications: Comp Sci BSc, NVQ 2 & 3 IT Professional
    WIP: Comptia A+, Network+
  2. westernkings

    westernkings Gigabyte Poster

    1,432
    60
    107
    As soon as the banks begin lending the money the tax payers are giving them, to the tax paying public.

    They are just hoarding this money and not lending it out.
     
    Certifications: MCITP:VA, MCITP:EA, MCDST, MCTS, MCITP:EST7, MCITP:SA, PRINCE2, ITILv3
  3. Evilwheato

    Evilwheato Kilobyte Poster

    414
    4
    20
    I'm thinking next year, that's being generous :)
    The amount of businesses that have gone bust already (and that was during December- a busy period!) shows what is to come I think. Unemployment doesn't help, nor does the fact that banks don't want to lend money out because they need the liquidity against bad debts.
     
  4. westernkings

    westernkings Gigabyte Poster

    1,432
    60
    107
    The companies are going bust because of the media hype about how our pounds are worth nothing and how we are all going to be jobless next week.

    "We have nothing to fear but fear its self" and it is fear that is preventing this recession from stopping.

    People are speculating, meaning public doesn't spend, companies make no money, go bust. Banks don't lend and companies go bust.

    It is all mostly created by the media and panic. It's a debacle.
     
    Certifications: MCITP:VA, MCITP:EA, MCDST, MCTS, MCITP:EST7, MCITP:SA, PRINCE2, ITILv3
  5. zebulebu

    zebulebu Terabyte Poster

    3,748
    330
    187
    It gives me no great pleasure to say that I have been predicting this for about six years now. The longer its gone on, the worse it was inevitably going to be when it all came crashing down.

    Sadly, I don't think we'll be out of it before the end of 2010 - if then. I think by christmas next year we"ll see about 3.5 million unemployed in the uk, house prices will come down by about another 20%, inflation will jump, as will interest rates and we"ll be in the middle of a depression.

    Sounds depressing, but I think its just realistic. I hope I'll be ok job-wise, but am worried that companies will soon start shedding experienced staff and replacing them with non experienced ones so they can pauy them a lot less.

    Ho hum.
     
    Certifications: A few
    WIP: None - f*** 'em
  6. -Mercury-

    -Mercury- Byte Poster

    196
    9
    30
    Yeah the economy will continue shrinking well in to 2010.

    The word recession is old news, the media is now talking about a economic depression!
     
    Certifications: MCSA|MCDST|A+|Net+
    WIP: CCENT
  7. craigie

    craigie Terabyte Poster

    3,020
    173
    155
    I was going to type up along answer to this but, I really cannot be bothered.

    2011 earliest, more likely 2013.
     
    Certifications: CCA | CCENT | CCNA | CCNA:S | HP APC | HP ASE | ITILv3 | MCP | MCDST | MCITP: EA | MCTS:Vista | MCTS:Exch '07 | MCSA 2003 | MCSA:M 2003 | MCSA 2008 | MCSE | VCP5-DT | VCP4-DCV | VCP5-DCV | VCAP5-DCA | VCAP5-DCD | VMTSP | VTSP 4 | VTSP 5
  8. westernkings

    westernkings Gigabyte Poster

    1,432
    60
    107
    How much worse can it get in terms of unemployed ? we have 2 million unemployed, but neglect to mention the people economically inactive (ranging between 4 and 8 MILLION people depending on who you include) who costs us 108 billion a year in benefits.

    So the real figure of people not working is about 8 or 9 million at the moment because your not unemployed officially if your on income support or any other benefit but Job Seekers.
     
    Certifications: MCITP:VA, MCITP:EA, MCDST, MCTS, MCITP:EST7, MCITP:SA, PRINCE2, ITILv3
  9. kevicho

    kevicho Gigabyte Poster

    1,219
    58
    116
    Call me pessimistic i can see this being at least 2 to 3 years, if not longer
     
    Certifications: A+, Net+, MCSA Server 2003, 2008, Windows XP & 7 , ITIL V3 Foundation
    WIP: CCNA Renewal
  10. Alex Wright

    Alex Wright Megabyte Poster

    501
    9
    57
    The truth is, nobody knows. And if they told you otherwise, they'd be telling you porkies. In the words of Gordon Brown 'this is a global problem, that requires global solutions', and no national policy alone will see an upturn in the economy. I'm absolutely certain of one thing though, and that's that the economy won't begin to grow again in the summer as our government so optimistically predicts.

    Of course, they'll mess with the facts and figures in one last desperate hope of securing a 4th term in office when the elections called in what's likely to be 2010. And then we can all rest peacefully, safe in the knowledge that Cameron and Osbourne at the helm. :blink
     
    Certifications: 70-680 Configuring Windows 7
    WIP: 70-642
  11. Alex Wright

    Alex Wright Megabyte Poster

    501
    9
    57
    No. I'll call you realistic. :biggrin
     
    Certifications: 70-680 Configuring Windows 7
    WIP: 70-642
  12. dmarsh

    dmarsh Terabyte Poster

    3,782
    302
    184
    Practically every major bank is bankrupt as far as I can see, they still don't know their losses, they've required massive bailouts, and their stock is worthless.

    The UK taxpayer, thats you and me has already lost 66% on our RBS shares in just 3 months.

    The only time a stock becomes worthless is when a company is bankrupt, ie it has no net worth, in capital, assets or prospects.

    The government is going to bankrupt the country and tax the hell out of the tax payer to bail out the banks.

    Interest rates should be going up to reward savers and suck in overseas investment, instead they've gone down and there's talk of printing money, if that happens then the already weak pound will go through the floor and we will pretty much be a third world economy.

    The net result is an aftermath that will last 10-30 years.

    Recession end by late 2009 ? More like 2014.

    If only Gordon had paid attention in class ! Pity they don't have endless cert tests for lackluster politicians...
     
    Certifications: CITP, BSc, HND, SCJP, SCJD, SCWCD, SCBCD, SCEA, N+, Sec+, Proj+, Server+, Linux+, MCTS, MCPD, MCSA, MCITP, CCDH
  13. greenbrucelee
    Highly Decorated Member Award

    greenbrucelee Zettabyte Poster

    14,283
    254
    329
    end of 2010 if we are lucky
     
    Certifications: A+, N+, MCDST, Security+, 70-270
    WIP: 70-620 or 70-680?
  14. kevicho

    kevicho Gigabyte Poster

    1,219
    58
    116
    Cant agree more, everything mr brown touches, turns to the brown stuff.
     
    Certifications: A+, Net+, MCSA Server 2003, 2008, Windows XP & 7 , ITIL V3 Foundation
    WIP: CCNA Renewal
  15. bootneck1

    bootneck1 Bit Poster

    35
    0
    21
    Alot of the companies that have gone bust was in a pretty bad state in the first place, the recession just happened to finish them off
     
    Certifications: SDH, PONS,AIR BLOWN FIBER SYSTEMS
  16. drum_dude

    drum_dude Gigabyte Poster

    1,547
    46
    113
    What truly amazes me is the following:

    * Banks lent out money and fuelled a dangerous housing boom
    * Now A LOT of people are failing to meet those mortgage repayments
    * The result of the above is repossession
    * Banks then go on to flog the repossed house at a much lower price through an Esate Agent
    * Because of the above banks are fuelling the bust.

    I've noticed these repo's up for grabs through Estate Agents at more or less 2002 prices. The consequences of their actions is to devaluate the other houses in the street. Bear in mind, an auction price is not listed in Land Registry figures but a sale through an estate agent is entered onto the database. Truly amazing!
     
    Certifications: MCSA , N+, A+ ,ITIL V2, MCTS
    WIP: MCITP 2008 Ent Admin, Server Admin, Exchange 2010, Lync 2010, CCNA & VCP5
  17. onoski

    onoski Terabyte Poster

    3,120
    51
    154
    It's no good winging and griping when no one has come forth with a possible solution. Yes the whole of the economy is in a pretty bad state and it sure did not happen over night.

    Having said the above the only way out is looking and dealing with the situation i.e. like what Gordon Brown is currently implementing. The Tories on the other hand are trying to make so much noise out of the situation when in an actual fact when they were in government the economy was even worse in terms of health, education and employment.

    I am not a fan of either of the parties but to be honest the opposition has not put forth any viable solution but to take advantage of the situation through blames etc.

    Lastly, to a very large extent we all play a part in how we spend our money through investing wisely and not trying to chew more than we can swallow.
     
    Certifications: MCSE: 2003, MCSA: 2003 Messaging, MCP, HNC BIT, ITIL Fdn V3, SDI Fdn, VCP 4 & VCP 5
    WIP: MCTS:70-236, PowerShell
  18. dmarsh

    dmarsh Terabyte Poster

    3,782
    302
    184
    Nothing amazing about it, typical banker behaviour, pump and dump, ramping etc...

    If they don't let the market settle back to its real level, how can they go on to fuel the next bubble and make yet more cash ?

    They make money from market movements, a stagnant market at 1-2% which is the reality of out economy does them no good...

    They don't want a steady economy which is good for honest hard working people, and neither did gordon...

    I don't think for a minute banks sell repossessions at a loss, they have their loans underwritten, they even get people to insure themselves against default.

    Banks get much needed liquidity by an auction and the previous owner is still liable for any shortfall. So in effect the banks reduce risk and get most of their money back sooner.
    They are not really in the property business, they are in the money lending business, they don't care if prices go down as long as they get a return. Theres probably a lot of other angles to it too.

    Apparently there are 7 times as many savers as borrowers and savers are getting a pretty poor deal from most banks at the moment so thats possibly another way they can hedge against loses on lending.
     
    Certifications: CITP, BSc, HND, SCJP, SCJD, SCWCD, SCBCD, SCEA, N+, Sec+, Proj+, Server+, Linux+, MCTS, MCPD, MCSA, MCITP, CCDH
  19. zimbo
    Honorary Member

    zimbo Petabyte Poster

    5,215
    98
    181
    Certifications: B.Sc, MCDST & MCSA
    WIP: M.Sc - Computer Forensics
  20. fatp

    fatp Byte Poster

    196
    7
    44
    close this thread.
    Nothing too see here people, please move on....
    cheers!
     
    Certifications: Comp Sci BSc, NVQ 2 & 3 IT Professional
    WIP: Comptia A+, Network+

Share This Page

Loading...