How the cash crisis is affecting the UK
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Bazzeroo :: OFF-TOPIC :: General news
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How the cash crisis is affecting the UK
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
jackie 46- Number of posts : 4999
Age : 62
Location : Essex
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Re: How the cash crisis is affecting the UK
Marks and Spencers are not doing very well at the moment.
jackie 46- Number of posts : 4999
Age : 62
Location : Essex
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Re: How the cash crisis is affecting the UK
So are lidl & Aldi.jackie 46 wrote:Marks and Spencers are not doing very well at the moment.
Re: How the cash crisis is affecting the UK
Primark are out doing Marks at the moment in clothes.
jackie 46- Number of posts : 4999
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Re: How the cash crisis is affecting the UK
Primark always do as they are fashionable but dirt cheap.
Re: How the cash crisis is affecting the UK
I like peacocks for cheap fashionable clothes.
jackie 46- Number of posts : 4999
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Re: How the cash crisis is affecting the UK
I've picked up loads of bargains from our local charity shops some still with the price tag on them.
jackie 46- Number of posts : 4999
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Re: How the cash crisis is affecting the UK
Jackie. That is the security tag! And you are supposed to pay for them!
Re: How the cash crisis is affecting the UK
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.
jackie 46- Number of posts : 4999
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Re: How the cash crisis is affecting the UK
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.
L- Admin
- Number of posts : 330
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Re: How the cash crisis is affecting the UK
*sings Things can only get better*
jackie 46- Number of posts : 4999
Age : 62
Location : Essex
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Re: How the cash crisis is affecting the UK
Yeah, that's the problem isn't it. We are all tightening our belts, thus making it worse. It's a catch-22.
L- Admin
- Number of posts : 330
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Re: How the cash crisis is affecting the UK
Well another few shops have gone in our town.
jackie 46- Number of posts : 4999
Age : 62
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Registration date : 2008-08-27
Re: How the cash crisis is affecting the UK
Another charity shop is opening love these shops you never know what you find in them.
jackie 46- Number of posts : 4999
Age : 62
Location : Essex
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Registration date : 2008-08-27
Re: How the cash crisis is affecting the UK
Ha Ha possibly.
jackie 46- Number of posts : 4999
Age : 62
Location : Essex
Points :
Registration date : 2008-08-27
Re: How the cash crisis is affecting the UK
I bet these places in your town make a loss when you are out on the rob. No wonder they are closing down.
jackie 46- Number of posts : 4999
Age : 62
Location : Essex
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Registration date : 2008-08-27
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