How did the 2008 depression affect you?

[Bob Arctor]

Is that because of the work that you do Bob? Working in the front line with people who are struggling financially or emotionally is tough.

 

It's definitely part of it. It's also the disconnection between what I see in the day to day and what most people think is going on. If I come home from a day of trying to help someone with serious health problems get some money for food and to able to attend vital health appointments because the state has decided to make it unreasonably difficult for them to access basics like this, and read how people think the cuts aren't harming anyone, that's pretty depressing. Also because I have a decent understanding of how the crash happened and who was responsible, so I know that the person I am trying to help is paying the price for mistakes made by some minted hedge funder living in luxury in Kew. That's bad enough but realising that most people aren't aware of it is almost worse.

[spilldig]

Cant say that it affected me much at all and never thought it was that bad.

 

It was much the same with me. I had been made redundant from my engineering job and couldn't get back into engineering so after a about a year I took up bus driving. The recession increased the number of customers we had and as we didn't by then have a mortgage it just didn't make a difference. Our manager at the time pointed out that the number of customers always increased with a recession.

[Cyclone]

It was much the same with me. I had been made redundant from my engineering job and couldn't get back into engineering so after a about a year I took up bus driving. The recession increased the number of customers we had and as we didn't by then have a mortgage it just didn't make a difference. Our manager at the time pointed out that the number of customers always increased with a recession.

 

Recessions also benefit budget supermarkets and various other 'cheaper' businesses.

[Staunton]

We should be very skeptical about the language used by the mainstream media to describe the economic events of 2007-8.

 

What happened was not a crisis. It did cause a crisis, but it was not in itself a crisis, it was a scandal. What happened was due to corruption, lying, cheating the system, fraud and deception on a vast scale.

[Bypassblade]

What about your kids' pension age, did that not go up dramatically? Or is that irrelevant because you didn't notice that?

 

Tim,

 

The raise in pension age was a kick in the guts for lots, but mostly for the young as you say. I feel we should have left it as it was it caused strike after strike, and created scabs again.

 

I have now retired (medically) but if I hadn't could have retired at 60 but not got pension till 66-67. Plus by putting pension age up who fancies being rescued by a 68 year old fireman in years to come.

 

As for if the depression affected me, well everyone was affected but I and others rode it out, and cut my cloth accordingly.

[Owethemnowt]

Over night share values were wiped out which led to a high number of immediate suicides.

 

Doesn't get any worse than that.

[tzijlstra]

Tim,

 

The raise in pension age was a kick in the guts for lots, but mostly for the young as you say. I feel we should have left it as it was it caused strike after strike, and created scabs again.

 

I have now retired (medically) but if I hadn't could have retired at 60 but not got pension till 66-67. Plus by putting pension age up who fancies being rescued by a 68 year old fireman in years to come.

 

As for if the depression affected me, well everyone was affected but I and others rode it out, and cut my cloth accordingly.

 

Why I made that point Pete is because people all too easy forget that actions have reactions. We all balance things out, straighten up and carry on. But it always has a consequence. I am not 40 yet, I don't think a state pension is something I can rely on, it will be gone by the time I'm 75. Until which I expect I'll have to work as a minimum.

 

The crash of 2008 left the UK with a huge budget deficit and a huge debt, the current uncertainty only adds to that deficit and debt. Who is going to pay my pension? Or that of our kids?

[monkey104]

It didn't really effect me, in fact I gave up a job on film star wages working abroad to take on a lower paid job back home.

I even collect monthly on my army pension so when (if) I get the state pension it will be a bonus.

[Anna B]

I lost £15,000+ because I had to wait nearly 3 extra years for my state pension, but then didn't get the new rate either, and will be stuck on the old rate for the rest of my life, which, if only 20 years, amounts to a loss of nearly £32,000. On top of that I have lost a small fortune in interest on savings.

 

Food prices rocketed and have not come down, as has the price of other things. Local amenities closed down and have never reopened, but most of all, 'austerity cuts' have affected me and will, in the long run, affect everybody, as the help and facilities you need simply won't be there when you need them, you just haven't realised it yet.

Edited June 26, 2016 by Anna B

[Bob Arctor]

No impact on me personally. In fact, my annual salary increased by a third. It's more recent that i'm witnessing/via meeting with Social Services/Local Authorities severe cuts in Health&Social Care spending. They're scared to death of care/support providers handing back contracts because they're no longer viable. Not good times at all.

 

I know of people who are having their support packages cut by 80%. The more disabled you are, the worse the cuts, but it is sadly quite hidden, most people have no idea of the impact of the cuts on those who need the most support.