http://news.bbc.co.uk/1/hi/business/7639199.stm

I don't think anyone anywhere has any idea of how large this financial meltdown could be!

Being as how some of this is all linked in with my job, i've lived with it for over a year now...and all the rumours and hearsay from various sources does no one any favours! Every business i go to, the owners are scared about what tomorrow may bring and some have worked through the early '80's and early '90's recessions!

There is no doubt that banks have been reckless ( and i suspect fraudulent) in a good proportion of their lending and the chickens are now coming home to roost! In some ways. i would like to see the US government not support their banks with this $700 billion loan but there is no doubt that if they don't the whole world econonmics will collapse.

The one thing the future will definitely bring is higher costs of borrowing, regardless of your credit history, some people will get no credit at all and hopefully a return to th days where you had to put a cash deposit down before you could borrow the balance to buy some larger items!

Feck it...i'm going out on my bike to forget it all!

daytona63:

Feck it...i'm going out on my bike to forget it all!

Best way to deal with it at the mo.

If / when anything actually happens, which effect you directly - then worry.

We're not in a good situation here, i work with items classed as a luxry, other half is with Allicance & Leicester !! 

I went through so many possible redundancies at GEC / Marconi - got through 5 of them on the 6th jumped.  But it is not worth worrying about - it will make things feel worse.

Some people win.  I am now in my new house (well kind of - moved in last night but waiting to get the burglar alarm reset as everytime i flick the leccy on it goes off, and no code was left for it)

 There's no way I could afford this house if it wasnt a repo. When we collected the keys yesterday, they showed us the other offers from when it went on the market 2 years ago. The bank turned down an offer that was £50,000 more than what we just got it for. hahahahah, suckers.

 And our mortgages are capped, so we're ok for at least 3 years. Hopefully it'll be all over by then........

Rugeley, on a new estate called the Birches.  Been a bit of a hassle at the moment. Finally got the alarm reset so had power last night (which was quite funny exploring what all the switches power) but could not get the boiler to light. So gonna have to get a plumber out now asap.  I'm absolutely knackered at the moment and everything is all in the air. And yet I have got to go to college tonight and hope my 10 hour wiring exam has not been bocked in for today (in which case I would have missed it) as I was on holiday when they were arranged.

Still, there's a right fitty just a couple of doors down. Cant wait to get my telescope setup. 

D 6:

 

Still, there's a right fitty just a couple of doors down. Cant wait to get my telescope setup. 

Looks like you bought the right house then!

Good one D6

Pleased your in now.