foxy lady Posted January 28, 2009 Share Posted January 28, 2009 There was some good news for the economy today. ASDA announced that they were creating 7000 new jobs. It appears that as money is getting tighter people are not eating or drinking out as much, and are therefore buying more booze and food from the supermarkets. Sadly, as they say, there is no such thing as a free lunch. The 7000 new jobs at ASDA are estimated to be at the expense of 100,000 jobs as pubs, restaurants, and cafes close. It seems people just haven't got the money in their pockets anymore. Link to comment Share on other sites More sharing options...
Titanic99 Posted January 28, 2009 Share Posted January 28, 2009 There was some good news for the economy today. ASDA announced that they were creating 7000 new jobs. It appears that as money is getting tighter people are not eating or drinking out as much, and are therefore buying more booze and food from the supermarkets. Sadly, as they say, there is no such thing as a free lunch. The 7000 new jobs at ASDA are estimated to be at the expense of 100,000 jobs as pubs, restaurants, and cafes close. It seems people just haven't got the money in their pockets anymore. So how does that work then? Let's say it costs £10 to eat in and £30 to eat out, so surely that means you have £20 to spend on summit else. Link to comment Share on other sites More sharing options...
foxy lady Posted January 28, 2009 Share Posted January 28, 2009 So how does that work then? Let's say it costs £10 to eat in and £30 to eat out, so surely that means you have £20 to spend on summit else. Not when you are on a 4 day week. You seem to have totally missed the point. People are staying in because they don't have as much money in their pockets. Link to comment Share on other sites More sharing options...
Paul2412 Posted January 29, 2009 Share Posted January 29, 2009 Am I the only one to be thinking that it's not entirely the greedy investment bankers fault? At the beginning of all this, if the media had not decided to blow things totally out of proportion then people would still be spending, as they would be unaware of the problems with the banks... If people carried on spending, businesses wouldn't be struggling. Who cares if some investment banker in London hasn't got his usual £1M bonus this year? In my opinion, the blame lies squarely with the media. Link to comment Share on other sites More sharing options...
Dave650 Posted January 29, 2009 Author Share Posted January 29, 2009 It's down to a number of contributing factors. I am one of the one's who blames the banks greed though, while times were good they were happy to rip you off. Link to comment Share on other sites More sharing options...
Tricky Posted January 29, 2009 Share Posted January 29, 2009 Am I the only one to be thinking that it's not entirely the greedy investment bankers fault? At the beginning of all this, if the media had not decided to blow things totally out of proportion then people would still be spending, as they would be unaware of the problems with the banks... If people carried on spending, businesses wouldn't be struggling. Who cares if some investment banker in London hasn't got his usual £1M bonus this year? In my opinion, the blame lies squarely with the media. Your first sentence has a lot of merit; your last is complete and utter garbage. If anything, the media have been woefully inadequate in keeping up with the situation. Link to comment Share on other sites More sharing options...
Paul2412 Posted January 29, 2009 Share Posted January 29, 2009 Your first sentence has a lot of merit; your last is complete and utter garbage. If anything, the media have been woefully inadequate in keeping up with the situation. But why let the media tell people how everything is worthless and if you carry on spending you'll be doomed and go straight to hell? Surely they should keep a positive attitude on things so people keep spending. If people keep spending businesses keep going and the economy doesn't collapse. Am I missing something? Link to comment Share on other sites More sharing options...
eckerslike Posted January 29, 2009 Share Posted January 29, 2009 If people keep spending businesses keep going and the economy doesn't collapse. Am I missing something? Yes . Link to comment Share on other sites More sharing options...
Tricky Posted January 29, 2009 Share Posted January 29, 2009 But why let the media tell people how everything is worthless and if you carry on spending you'll be doomed and go straight to hell? Surely they should keep a positive attitude on things so people keep spending. If people keep spending businesses keep going and the economy doesn't collapse. Am I missing something? It's too late. It's broken. The credit bubble is over. TIf people keep on spending, they'll go bankrupt. When they go bankrupt, they stop spending and everybody that they owed money to goes bankrupt. The media isn't close to forecasting how bad it could get. Just read Jim Rodgers or any of the traders forums, they think we're going to be sent pre-industrial revolution. If you want to stand in front of the runaway train, that's up to you but don't blame the rest of us for getting out of it's way and don't blame the media for reporting that it is travelling somewhat briskly when in fact it is approaching warp speed. Link to comment Share on other sites More sharing options...
Titanic99 Posted January 29, 2009 Share Posted January 29, 2009 The media isn't close to forecasting how bad it could get. Just read Jim Rodgers or any of the traders forums, they think we're going to be sent pre-industrial revolution. What do you mean by "forecasting how bad it could get", surely these experts you mention should be able to tell how bad it will get. This has always been a bit of a mystery to me, we now seem to have financial experts all over the place telling us how bad it will get, but where were these experts 12-18 months ago as none of them seemed to predict this global recession. I saw one chap interviewed last night on telly, he is being credited as the only financial expert who predicted this recession. So why should we believe these experts this time. Link to comment Share on other sites More sharing options...
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