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Opinion ranges wildly on the question of recession--but what is certain is that continuous reporting of gloom and doom is a self-fulfilling prophecy--if you keep telling somebody the sky is falling in then they react and behave accordingly. Whilst there are lots of bad news items in the news every day there are reasons to be cheerful; interest rates falling rapidly and the consequent savings to mortgage borrowers; inflation is shrinking away and so prices and cost of living is falling and will continue to do so and the oil price has returned to acceptable levels--having been artificially driven up by futures market activity. The other big factor is property prices--again this is an asset class that has seen its "price" spiralling upwards but is now firmly on a downward trend and will reach a level that reflects true "value" in bricks and mortar. Disconcerting as this may be for property developers and speculators in the short term--with the knock-on negative impact on jobs-----the slump may be shorter than is widely predicted--simply because the demand for housing will not go away and will be the stimulus for the sector late in 2009 and into 2010. Certainly there are risks of a prolonged recession if wage demands were to spiral and sterling fell much further against the euro and the dollar--but my feeling is that the recession will be short but sharp and the later part of 2009 should bring some relief.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to http://www.unbiased.co.uk. |
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serenai
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END? It's only just getting started? |
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quizzard123
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June 23, 2010 will be the final day of the recession.
No, seriously though, nobody can accurately and reliably predict the future. if they could, they would be immensely wealthy. Anybody who gives you a specific answer is only guessing, and to be honest, your guess is as good as theirs. |
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taz c
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Uh oh - someone else looking for "green shoots" before the recession's got bad. It's just beginning - it'll be at least 5-6 years before a recovery happens. |
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Nelly N
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It's gonna go on for the next 5 years! |
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J.R.
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This is just the beginning my dear, be prepared to harder times, learn to save money, and do not waste it in useless things. |
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Dany D
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ha try living in ireland , we are in a serious recession, im watching everyone i know loose everything. rich and poor! including my family, its a scrape to get by and we were quite comfortable.
but they think 2010, i think thats crap! i say more 2012-2013 |
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JB
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i just read your question and was hoping to see some promising answers! i was hoping that 2009 and then it will be all done and dusted, but having read the other answers i now feel really depressed! arrrghhhhh. i hate recession. |
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Windrider The New Herald Mage.
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The Recession is going to last for at least another six months, as for a solution, exile to the middle of the Amazonian Jungle all those responsible would be a good start. As for solutions, there are no easy answers, only a lot of hard work to get us all out of this mess. |
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Awesome. :)
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When people in government stop thinking we have infinite money to spend on stupid crap and getting into serious debt. |
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peanutbutter_cherrypie
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Get the government out its simple as!! |
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fe4eia786
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When the UK STOPS being a mini USA and STOPS going into war with countries on the say so of that CRAP USA,BULLS*** government.Not only have they injected money that the country didn't have but threatened lives of the British soldiers and innocent people. |
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IFGh I
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Its the vulnerable that will suffer! |
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william d
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May 23rd. at 08.25. |
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Alan B
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Only when western countries become self sufficient in energy, and stop pouring money down the drain, by giving it away to oil producing countries in return for black gold or gas.
When we re balance our economy and start producing and exporting manufactured goods, instead of just selling imported consumer goods or insurance..
. |
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JESSIEBLUE
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we may never recover , this is is the worst in history , and just the strongest will survive , believe me ,it will get far worse yet , as dear gordon is sending all our tax payers money out of the country , what beats me is why we the people just sit back ,moan about it ,read about it answere questions about it , yet what do we do , NOTHING , we have become a weak nation thats why ,!!! |
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the truth bringer
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yes instead of the government bailing out the banks why don't they clear everyone mortgage that way people will have money to spend at the shops and wont have to relie on the credit that has caused most of the problems |
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Anthon Moonstone
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There is no recession, it's just the rich bankers dropping the country in the **** for fun.
My solution is Angry Mobs with pitchforks and flaming torches storming the banks head offices, like the scene in Mary Poppins where the small boy isn't allowed to feed the birds, only without Dick Van bloody Dyke!! he only does murders now anyway! |
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Private
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Unfortunately we are on the brink of one of the worst financial crises in history.Furthermore,our economy as a whole is in the worst position to deal with the crisis.
Worse still....
Yes it gets worse,Crash Gordon who steered us here in the first place,wants to borrow countless more billions to throw into the abyss to make us happy for a couple of years and maybe give him a favourable legacy before we sink into oblivion.After all,it worked for Blair.
For God's sake lobby for the removal of these clowns and let the Tories come in and sort Labours mess out again.
I dont think the country can safely stand another 2 years of the buffoons recklessness. |
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mahaalila
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I think it´s very easy to say bad things about something we know or have very little experience about. I would think that the more the issue of a credit crunch is fed by the press and panic mongers, the worse the situation will be. The economy needs to be fed, consumers need to spend for the factories to pay the workers who pay their mortgages etc.
Yes, we are going through a hard time but interest rates have fallen , Vat has been cut and shops have reduced their prices, so alot of things have been done for everyone, maybe a little positiveness would go a long way and stop looking in the tabloids because they are making money off you reading miserable things.......Ohh England is up the swannie lets buy the paper tomorrow for the next update, don´t spend but by god buy our paper watch our program which actually costs money. If your going to stop spending then do it but shut up and let everyone else manage the credit difficulty positively as possible without causing major panic. Most of the time the companies that have gone during this time have worked on a shoe string have no slush fund and have looked at the future with a short mind. Sorry my opinion and I do feel for the people who have lost their jobs. Causing a panic will feed this monster, yes be sensible but don´t make things worse... Asda has never been so cheap....... |
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Bubber
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Nobody knows, but what we do know is that our Great, Great,Great, Granchildren will still be paying for the greed and folly of the Banks. |
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tacila
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Neil I asked that question earlier!!
Apparently it devalues money!
Well the IMF have forecast a bounce back in 2011 but hey its not all doom & gloom!:) |
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Bethan S
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I cant predict the future, but we can look at the past. we had a recession in the 80's and look at the world street crash!! the world will go over this in cycles, i will happen every so often. It will get worse before it gets better, and it's only just started!!! Looking at previous events and America know i think within 5-10 years we will be back to normal. it will be alot of hard work untill then though so start saving!!! TO be honest, i know the recesion hits some people hard, but we have food homes and can afford luxuries (most of us) so we are still pretty well of compared to 3rd world countries! the media makes things work, and there is an air of missery sorrounding us, because we are reminded of it everyday!!1 just do'nt panic!! |
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Ivan R
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Hello,
(ANS) No.1 We have in the UK been in a recession for at least the last 12-16mths despite what others are saying about this (just my opinion).
No.2 Global capitalism & the financial system that underpins it is in a total mess, this is financial & political territory no body has ever seen before. Hence the politicians and ALL the political parties have NOT got a clue as to how to solve it nor how to sort it out.
No.3 Even the PM Gordon Brown is out of his depth on this problem, its all desperate measures with his fingers crossed behind his back. I don't think he knows how to fix this, certainly bankers don't either nor does the FSA either.
No.4 As we are now quickly entering a depression NOT just a recession things are looking increasingly desperate as company after company go out of business. Frankly I think its extremely serious & VERY scary too. Nobody knows were or how it will change, as nobody has ALL the answers to a problem never seen before. Its a classic catch22 dammed if you do & dammed if you don't really.
No. 5 YES! 100% for certain, we havent reached rock bottom yet.
No.6 No! NOBODY can predict the future because it has yet to happen, enough said I think.
**Would you really want to know what the future has in store even if we could ??
Kind Regards Ivan. |
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Nick N
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It is only just getting started. It will take around 7 years at best before we come out the other end. |
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Wyncy
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The people who have been affected by the recession are the one who have lost their jobs, right? Everyone else, as far as I know, has stayed on the same salaries, so they shouldn't have noticed the effects of the recession too much (myself included!) Whoever said that thing about green shoots was right. There are signs of recovery in certain areas. People went nuts for the January sales, for instance. Things will start to look up by about August/September of this year - and everything will start to even out again. |
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President Geo
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The Recession is going to last and last and get worse and worse for a long time whilst Gordon and Allistair run the show. Its not going to end and there is no way out. The UK will fall further and further into a depression.
However there is a solution. Do not re elect Brown and the Labour Party, Vote Conservative and step by step we can achieve great things and get this country back on track and out of the doldrums. There is hope yet.
PS Leave the sh*t out about past Tory governments, Thatcher this, Major that. Its in the past! In 25 years time we will be remembering the Brown government in the same light! |
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sas!?
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Its only going to get worse, its not just the uk but its worldwide meaning money will become very short leading to hundreds of people without a job or worse.
the problem is simple in this country over spending on stupid wars that we cant afford, do you know that we are stilling paying for WW2. . . also the benefits system and nhs is crippling this country and the money bring poured into that is just running down the drain.
i beleive it will get even worse when the 2012 olimpics start cause no one will have the money to come and the debts from that will kill this country and we shall have a worse depression than in 1930's which will lead to moral panic, death and maybe a change in leadership i.e. NO MORE GOVERNMENT |
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carlos
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August 1997................ sh*t that was judgement day |
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Noor K
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I HAD A DREAM!! that one day everyone will have a job, only kiddin i think emmmm may tomorr lol kiddin again i dunno maybe in 2012 don't ask why! olympics is then. The OLYMICS are gonna save ppls lives & of course Jobseekers u no we love our 64 pounds evry 2 weeks.lolllllllll |
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CoolFox
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Your question should not be "when will the recession end" but rather when will the economy recover to it's previous state, as if the economy shrinks 5% this year but the economy grows 1% next year the recession would of ended but we would still be in a worse of position.
Now to answer your question the recession will probably hit it's worst in the summer of '09 (view of most economists) but in my opinion it'll be most depressing on people at the end of '09 as they fell it has been a negative year. The economy will recover in between 2 years (optimistic) and 10 years (very pessimistic) |
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