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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think we are heading towards a huge recession

118 replies

jnfrrss · 11/05/2018 12:49

Homes and retail sales down 3% last month. Pay isn't keeping up with inflation. Backoffice staff are quickly being replaced with robots.

The last recession was only "saved" by printing billions to bail out the banks and this seems to have just caused a huge spike in assets like bonds and homes. None of the issues there have really been solved just delayed and they can't lower rates or stimulate like they did back in 07-08. The public debt has grown huge during the "austerity" times. Every day you hear of new job cuts and that's not to mention all the jobs that aren't replaced after normal attrition. Then there's brexit and the huge amount of people on interest only mortgages.

Or aibu and things are looking good?

OP posts:
Bluelady · 11/05/2018 12:53

You really should name change to Cassandra.

Eve · 11/05/2018 12:54

I work for a mutlinational - things are slow and cautious here.

Other big multinationals who are our core customers are not spending on investment projects.

A couple of local medium sized (100-200 staff) construction companies have gone bankrupt this week.

ilovesooty · 11/05/2018 13:25

No shit Sherlock Hmm

TheEmojiFormerlyKnownAsPrince · 11/05/2018 13:27

I thought we were in one already!

HariboIsMyCrack · 11/05/2018 13:28

This reply has been withdrawn

Message from MNHQ: This post has been withdrawn

LifeBeginsAtGin · 11/05/2018 13:32

Is this another controversial thread you will start and then disappear from?

Bananalanacake · 11/05/2018 13:33

My dd1 middle name is Cassandra. I just love the name.

Original poster
jnfrrss · 11/05/2018 13:35

We haven't been in recession since 2009!

Point is this seems like it will be way bigger than the last one, as it's more a continuation of the last one.

Controversial talking about the economy and possible recession Hmm

OP posts:
ilovesooty · 11/05/2018 13:35

Life - I thought that too. I think perhaps "controversial" should be in inverted commas though.

LifeBeginsAtGin · 11/05/2018 13:39

OP. You came back and posted on your on thread. Well done,see you can do it.

A Brexiteer by any chance?

UserInfinityplus1 · 11/05/2018 13:41

Personally I don’t think we have really recovered since 2009

Original poster
jnfrrss · 11/05/2018 13:46

Gin just because I'm not posting on the UC credits thread why does that even matter? People are articulating what I want to say far better than I could. Just because I started it doesn't mean I'm obliged to keep replying to it.

Totally agree infinity plus, this seems like it's just continued and the last one was said to be the worst in many people's lifetime. So this one when it develops could be a full on depression.

OP posts:
ilovesooty · 11/05/2018 13:52

So any actual suggestions for dealing with the situation OP?

placebobebo · 11/05/2018 13:52

I don't think it's a case of we haven't been in a recession since 2009, more like we have been in a recession since 2009. We have had brief peaks but no real recovery, then the credit crunch and there was talk of a double and a triple dip recession and now I think the word has kind of been banned.

I think we already in a depression but we're still on the slippery slope and haven't hit bottom yet.

Employment may be dropping but tbh it's been so long since I saw more than a handful of full time positions in amongst the slew of zero hours or 6-20 hour positions. Wages for even management jobs in my area are only £1-2 over living wage per hour.

placebobebo · 11/05/2018 13:53

*Unemployment

viques · 11/05/2018 14:03

doom and gloom, doom and gloom. Arent we still the world's fifth biggest economy? I think we are safe.

Kursk · 11/05/2018 14:06

In the UK, yes maybe a recession is on the way. A combination of Austerity and Brexit are to blame, they are causing people to be cautious, to move, to save and prepare etc.

Looking at the global economy and the US in particular. Life is good.

baxterboi · 11/05/2018 14:06

Gossip and media is a big contributor to recession.

Well done for putting the frighteners on people to give the recession another little nudge.

LucheroTena · 11/05/2018 14:06

We never had a recovery. Low unemployment has been the only thing that’s staved off anarchy. The double whammy of austerity and brexit has a lot to answer for.

baxterboi · 11/05/2018 14:07

"causing people to be cautious, to move, to save and prepare etc. "

What should we be preparing for?

crunchymint · 11/05/2018 14:08

Yes a recession is on the way. A friend is an economist and talks about how none of the economic signs are looking good.

wijjy · 11/05/2018 14:09

We are always heading for the next recession.

CakeOfThePan · 11/05/2018 14:10

I don’t think we truly recovered after the last one, it’s felt very false and built on sand. I actually think propping it has potentially done more harm than good as we aren’t starting at a good point

crunchymint · 11/05/2018 14:10

baxter Prepare for recession by paying off any debts

Tansie1 · 11/05/2018 14:12

My financial adviser says the elephant in the room is the catastrophic levels of personal debt.

I suspect we are heading for a nasty recession since we haven't addressed the root causes of the last one, yet.