How the cash crisis is affecting the UK

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How the cash crisis is affecting the UK

Post by jackie 46 on Thu Oct 02, 2008 1:54 pm







President Bush's bail out plan was rejected by US politicians

All these words get bandied around like we're supposed to know what they mean - economic downturn, global credit crunch, banking bail-out.

Even the numbers are mad. In the US, politicians have voted against a bank bail-out deal that would have cost $700 billion.

As a result, a trillion dollars were wiped off the value of US shares. That's 1,000,000,000,000 - 12 zeroes!

So there's less money swilling around. And that's clearly bad news for city-types in places like London and Edinburgh, with their pin-stripe suits and their Porsches.

But what does it mean for the rest of us?

Harinder Sarpal, who runs an electrical goods shop, says it's already affecting his business: "It's going down, down, down. Obviously the last few months have been really bad."

When Newsbeat visited Harinder's shop, there were no other customers - and that's a worry.

He said: "The footfall is half of what it should be really. It has turned considerably quieter."

But Harinder reckons it's hard to plan for the future when you don't know what's around the corner.


The UK goverment had to step in to rescue Bradford & Bingley

"Obviously you try and plan and save and so on, but the long term future is very difficult at the moment. It's a matter of who can actually survive this."

The UK is already feeling the squeeze in lots of ways.

Builders and architects are getting laid off. An estate agent told Newsbeat there's hardly anybody buying houses.

No-one's been made redundant from her office yet but she doesn't feel it's very far off.

On Tuesday, we also learned that a transit van factory in Southampton is dropping down to a four-day week. They're halving their output, and they blame the economic downturn.

There are plenty of people who think we shouldn't bail out big banks.

They say ordinary people have got enough to worry about - so high rolling city-slickers should be left to look after themselves.

But the argument in favour of a bail-out is the same here as it is in the USA. If big business falls flat, we all lose out.

Supporters of a rescue plan say that unemployment would soar. More people would lose their homes. And there's a risk that some people could turn to crime to pay their way.

http://news.bbc.co.uk/newsbeat/hi/the_p_word/newsid_7644000/7644687.stm
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Re: How the cash crisis is affecting the UK

Post by Dave Mercury on Fri Oct 03, 2008 6:22 am

Hard times ahead.
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Re: How the cash crisis is affecting the UK

Post by Baz on Fri Oct 03, 2008 6:28 am

I am not reading this because I am depressed already.

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 03, 2008 7:25 am

Marks and Spencers are not doing very well at the moment.
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Re: How the cash crisis is affecting the UK

Post by Dave Mercury on Fri Oct 03, 2008 7:26 am

jackie 46 wrote:Marks and Spencers are not doing very well at the moment.
So are lidl & Aldi.
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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 03, 2008 7:48 am

Primark are out doing Marks at the moment in clothes.
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Re: How the cash crisis is affecting the UK

Post by Baz on Fri Oct 03, 2008 7:49 am

Primark always do as they are fashionable but dirt cheap.

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 03, 2008 7:51 am

I like peacocks for cheap fashionable clothes.
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Re: How the cash crisis is affecting the UK

Post by Dave Mercury on Sat Oct 04, 2008 5:13 am

Matalan Wink
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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Tue Oct 07, 2008 7:05 am

I've picked up loads of bargains from our local charity shops some still with the price tag on them.
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Re: How the cash crisis is affecting the UK

Post by Baz on Tue Oct 07, 2008 7:08 am

Jackie. That is the security tag! And you are supposed to pay for them!

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Tue Oct 07, 2008 7:18 am

Baz wrote:Jackie. That is the security tag! And you are supposed to pay for them!

Ha Ha talk about security tags I brought a pair of jeans for my daughter and used a self service till when I got home I relised the tag was on their and had to take them back I wondered what the bleep was when I left the store but no one challenged me.
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Re: How the cash crisis is affecting the UK

Post by Baz on Tue Oct 07, 2008 7:19 am

They don't care in most big stores.

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Re: How the cash crisis is affecting the UK

Post by L on Wed Oct 08, 2008 3:36 am

I don't think anyone's job is safe in the current climate. That's the problem... there's a knock-on effect. I guess all we can do is grin and bear it, and hope that things get better. Sad

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Wed Oct 08, 2008 4:44 am

*sings Things can only get better*
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Re: How the cash crisis is affecting the UK

Post by Baz on Wed Oct 08, 2008 4:47 am

I think they are going to get much worse first.

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Re: How the cash crisis is affecting the UK

Post by L on Wed Oct 08, 2008 5:18 am

Yeah, that's the problem isn't it. We are all tightening our belts, thus making it worse. It's a catch-22.

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 24, 2008 12:07 pm

Well another few shops have gone in our town.
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Re: How the cash crisis is affecting the UK

Post by Baz on Fri Oct 24, 2008 12:32 pm

It's dire.

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 24, 2008 12:40 pm

Another charity shop is opening love these shops you never know what you find in them.
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Re: How the cash crisis is affecting the UK

Post by Baz on Fri Oct 24, 2008 12:45 pm

A jigsaw with pieces missing?

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 24, 2008 12:48 pm

Ha Ha possibly.
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Re: How the cash crisis is affecting the UK

Post by Baz on Fri Oct 24, 2008 12:52 pm

I bet these places in your town make a loss when you are out on the rob. No wonder they are closing down. Laughing

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Re: How the cash crisis is affecting the UK

Post by jackie 46 on Fri Oct 24, 2008 12:58 pm

Rolling Eyes
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Re: How the cash crisis is affecting the UK

Post by Baz on Fri Oct 24, 2008 1:00 pm

Don't roll your eyes at me! Lol

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Re: How the cash crisis is affecting the UK

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