Has the Worldwide Credit Slump Hit You ?

[wraggster]

Just as the banking markets are in tatters the whole world seems to be plumetting towards a very real recession, i cant speak for other countries but the very high price of fuel which has come down lately but still exceedingly high coupled with every single thing taxed in every area of life and the rather dangerous costs of Gas and Electric which have seemingly tripled.

Add all these together and the very low if any pay rises and its no wonder that people around the world are struggling and that everywhere a massive downturn in sales is inevitable.

Has the Credit Slump Hit you and Your familys ?, i personally foresee that no one hasnt been affected and if anyones to blame who in your eyes is to blame ?

[havoc_012]

I live in the U.S. and I can feel the effects of the recession.

I was one of those people that pulled money out of Washington Mutual. A total of $15 billion was drawn from Washington Mutual after they announced they lost $5 billion. The loss of liquidity caused the bank to close.

I don't think the government should be bailing out these banks after the sub prime mortgage crisis. Buying a house you can't afford and hoping that the value increases is gambling. Unfortunately, when I go to Las Vegas and gamble away my money, I don't get reimbursed. Why should these banks be any different?

[FOL]

Well, Im out of job. Finding another is looking hard. Im just worried about loosing my home and everything I have worked for, .

As for whos to blame, well it has to be the government. Give it a few more weeks, and the backlash will come. We are going to start turning against each other. Think I should stop as I will start getting political, all I will say is check out the SUN newspaper from yesterday and the story on a 7 bedroom mansion.

This is why I think the country will ultimately crash, the government is inciting hatred in my eyes. People will start comming to the conclusion, I work my arse off and end up loosing everything. Yet a bum with kids, gets a £12,000 a month rent paid on a mansion and does nothing (best thing is they aint even british). You tell me where the justice is.

If your interested in the story, read HERE

EDIT:- Forgot to add, that £12,000 is my entire years salary. To be paying this a month is disgusting.

[WhizzBang]

As for whos to blame, well it has to be the government.

Why do you think the government to blame? What could they have done differently so that the UK could have avoided this? (I presume you are talking about the UK government since you live in Wales). This crisis started in the US not the UK.

[Zack]

It hasn't but I am sick to death of hearing about it.

People are still on the same wages so I don't know how this thing even happened.

The sooner people get over it and move on the better.

[FOL]

Why do you think the government to blame? What could they have done differently so that the UK could have avoided this? (I presume you are talking about the UK government since you live in Wales). This crisis started in the US not the UK.

I was just posting my feelings towards it. You obviously dont live in the UK, and dont know how much money the government waste on pointless crap. If they would get their head out of the sand and wake up to reality, the UK wouldnt even be in this problem.

People are worried how the £400,000,000 is going to be funding, and oh look its going to be funded by us the working public.

This is why I wanted to avoid posting.

[FOL]

It hasn't but I am sick to death of hearing about it.

People are still on the same wages so I don't know how this thing even happened.

The sooner people get over it and move on the better.

Well lets hope your job is secure, else you would proberly not repeat that comment.

[ojdon]

It's kinda' affected me personally, since I am no longer able to afford to go on Holiday with my Girlfriend.

[shadowriffe]

It hasn't really hit me yet, but I'm sure it will. We live with only my dad's income with a government job, which will likely get shut down if Obama gets elected. I don't think bailing out the banks makes sense, but if it actually works down the road, I won't complain. I have to try to have a little faith in our officials.

I am sick and tired of the leftist news media blaming it on Bush though. People seem to forget, or they'd like you to forget about a little thing called Congress. The President is not a monarch, which they want the idiots en masse to think, thus making them want to vote for Obama, thus putting my family's income down the toilet.

The real people to blame are the senators that stood behind Fannie May and Freddie Mac and allowed millions of people (It's their fault too.) to purchase homes that they could not afford. And most of those congressmen are *drum roll* Democrats. : )

[Eviltaco64]

From what I've heard, there was some law passed that allowed poor people to buy houses, they couldn't afford to pay for them, and banks lost money.