Credit Crunchies

Credit Crunchies - With milk on...

Credit Crunchies is just now getting it's snap and crackle to pop into place. Once that is done we will be taking a fresh look at living on less and doing well in a degrading economy. What that should mean to you is - we are on your side.

Just how bad can things possibly get?

Written by Matt B First published 20/11

Recession fears hit stock markets says the BBC. Apparently all sorts of industries are bracing for a hard time. So is it as bad as all that?

Apparently the slide comes after the Dow Jones share index in New York fell to its lowest level in five years. which is news speak for "uh oh! things look a bit dodgy."

However the BBC also reports [while] many retailers are feeling the pinch, the food industry is prospering with convenience food proving to be a popular item for many families who are eating out less than before.

Gold prices (the barometer of financial health world wide) seem to be returning to "normal" reports walesonline.co.uk and some parts of the worlds are left unaffected.

So have we learned the lessons of history?

How much worse do you think things will get?

Just how bad can things possibly get?

Matt is passionate about efficient living, technology and blogging. He spends a lot of his time looking to change the things that make us less healthy be that lifestyle, diet or thought patterns. Matt also blogs at Thanet Star, Green Moral and The fantastic site of Lord Matt. You can also catch up with him on twitter on @lordmatt. · You can find out more at http://lordmatt.co.uk .

Comments

Matt B wrote:

I think we are going to sink way way down. I'm looking at a time when the average house price in my area is no longer 225,000 but more like 80,000 or even 17,000 as was the case in the mid 70's. I plan to be ready to buy when that happens.

20/11 09:58:08 PM

pearl wrote:

however sad it may be but this sure is the time to buy if you can.. I've been thinking of buying too

21/11 02:09:42 PM

Kate wrote:

I can see it being a lot worse than the recession in the 80s and 90s - that affected only certain parts of the country, but this time the impact seems to be much wider. The drop in house prices is kind of a silver lining though, they have been far too high for the last 5 or 6 years which as been a problem for anyone trying to get onto the property ladder.

21/11 05:17:56 PM

douglas wrote:

I can see things getting better as petrol is going down, the transport costs are lowering and the prices are going back down. If people stop worrying about it everything will stare th level off.

22/11 12:49:46 AM

Matt B wrote:

I can see the logic of Douglas's argument (I know him in real life and so I know his industry) but my gut reaction says to hold tight and ride it out. I agree that panic is in no one's interest. I sensible level headed approach should see a person arrive out the other side a much better manager of their personal wealth (or lack thereof).

I think we could see several industries dramatically reshaped as a result. That reshaping is good for the entrepreneur. Apparently start ups are most common during such times so now is the time to take on the more bloated and unfit big guys with a lean focused approach.

22/11 09:23:35 AM

Phil wrote:

Worse before it gets better most certainly. Those who have steered clear of debt to this point can capitalize on the down spin. I for one who is in a buying mode w/ company stock am glad to see the price go down for now.

From a big picture perspective, many folks who have over-extended themselves have really gotten burned. Sad for them, but the course correction is a good thing in the long-run. I know many folks have curved their abuse of credit and are pulling away somewhat from this excessive consumerism which eventually consumes people.

03/12 01:51:04 AM

Matt B wrote:

Less consumerism can only be good for us in the long run. Thanks for those words of wisdom Phil it's nice to see you again.

03/12 10:31:53 AM

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