Have you been crunched in the credit crunch?

[frankfriend]

Have you been affected by the credit crunch yet? Did the recent banking collapses affect you, were any savings hit, or have you been made unemployed? Seeing how nearly half the media is devcoted to this I wondered how X10Hosting Forum members had been affected.:angel:

 

[alexandgruntz]

I was never employed, and I doubt Westpac would collapse. :biggrin:

As far as I'm concerned there is no recession.

 

[farscapeone]

Please be a little more specific. You mention the media and I assume you're talking about US. That's why I have to emphasize that I'm not from US.

I my country crises is something that's being on for past 20 years or so so this is not really affecting me.

It's strange how people could adopt to anything. LOL!

 

[frankfriend]

I was also thinking of the media in China, Japan, the UK, France, Germany etc. I guess Serbia has worse specifically Serbian problems. Is there much international trade, outside the balkan region?

 

[Smith6612]

The economy hasn't given me any issues. Going good here

 

[farscapeone]

I was also thinking of the media in China, Japan, the UK, France, Germany etc. I guess Serbia has worse specifically Serbian problems. Is there much international trade, outside the balkan region?

Yes there is trade outside the Balkan region ... and you're right about "specifically Serbian problems" :biggrin: That's what holds us back.

Back to the topic now.
I guess some people here really felt this crunch. Like people working in US Steel (in Serbia) and other foreign companies. Interesting thing is that our banks (both Serbian and foreign) are more secure then those in Europe and US mainly because our government order them to have 3 times more money reserves then those in Europe. So even if they straggle elsewhere they still have enough money to backup all the savings in Serbia. Our money is secure :biggrin:

Sorry for my English but I'm not fully familiar with economic phrases. I just hope you'll understand what I'm trying to say :happysad:.

 

[Zdroyd]

I was never employed, and I doubt Westpac would collapse. :biggrin:

As far as I'm concerned there is no recession.

No offense but you ether must live in a cave or be a rich a** because everyone is having economic problems in the US. And saying that we are not having trouble is an arrogant and ignorant remark.

 

[thebabyhater]

Yeah, the economy has not changed my way of life in the slightest. In fact, I'm actually making more money now than I was before... funny how that works out.

The true bad thing about the situation is the media's obsession with how "bad" the economy currently is. They keep repeating over and over how supposedly so many people can't find jobs, and thus they create a state of fear among potential workers. Why go out and get a job if you're afraid that you won't have it the next day? They keep saying the same thing over and over: "The economy sucks."

The fact remains that if the media won't shut up about the whole "crisis," there will never be an end to it. Forget stimulus packages and bail-outs (buzz words these days) - just stop talking about how "bad" things are and wait for the invisible hand to take over.

 

[lair360]

There are alot of credit crunch for college students and University...you know!
So...this post is not very nice to talk about when there are students looking at this post...

 

[Steeevoe]

I'm going to be a uni student!

As prices are falling for housing and food, it seems like there are quite a few things more affordable to use the remains of student loan on, especialy if inflation really does go negative which will be a bonus to savers as there money will gain value compared to how it used to loose value (i.e. when interest saved > inflation)

 

[alexandgruntz]

No offense but you ether must live in a cave or be a rich a** because everyone is having economic problems in the US. And saying that we are not having trouble is an arrogant and ignorant remark.

I'm 16, I live in New Zealand and my parents pay for quite a bit of stuff.

 

[Zdroyd]

Yes, well here in the US my parents can not even afford to give me $1.00 to buy donuts for my friends Birthday.

Lucky you.

 

[frankfriend]

People are affected very differently according to their own circumstances. Unfortunbately a lot of large corporations react by dumping 'employees' , as` distinct from the management & directors. Hopefully smaller outfits which have kept their overheads real low can survive longer.

 

[sattwa]

Oh yes 2 months now and jobless. Just moved to Oz 10 months back.:dunno:

 

[mattura]

Yes, well here in the US my parents can not even afford to give me $1.00 to buy donuts for my friends Birthday.

Well, donuts are unhealthy anyway, make them a card!

 

[frankfriend]

It's all a bit like waiting for the other shoe to fall. Given the huge amounts governments have borrowed [that's future taxes to be paid folks!!!!] the credit crunch should be taking longer to bite. It's hard to figure out why we shpouold trust banks at all, or ever again. They do not seem to have learned - because they do not see themselves a responsible. The head bankers do not feel the problems, after all it wasn't their money they gambled with was it?

 

[mattura]

Well the interest on my savings has been divided by 10! Not too ecstatic about that... but I'm not really having a hard time, sympathy to those who are.

 

[stunna]

Living in Jamaica and not much has changed other than the USD-JMD exchange rate.

 

[frankfriend]

Try the UK Credit Crunch budget today! Higher rate tax [over £150,000 ] 50%, [may not affect me too much!]

There will be lots of tax rises in 2011 [not today], just after the next Election. What a shock! The govt. tries to win an election without raising taxes for everyone, cons them, then sandbags them straight after the election. Let's hope no one spots this plan!

But there are also tax rises on Beer and Gasoline today!

 

[Twinkie]

Well maybe the executives who can raise the phone, TV and internet bill and get millions don't feel it, but I do. A few dollars more expensive here, a few cents there, then your stuck trying to figure out where all the money went. Then again I don't pay the bills... but I hear about it every day!

The US government though has been extremely supportive of the recession, and is keeping a firm hold on the stimulus money. AIG executives are no longer getting a free run, even after being credited with starting the entire recession