Who feeling the pinch credit crunch today?

Hello with the cost living and everything else gone up alot now. Who feeling the pinch credit crunch today with the cost living going up?

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Two entirely different things.

Credit crunch was a spin word coined by the media to summarise the financial difficulties of a few financial institutions, and the subsequent impact on lending.

The cost of living is due to increases in inflation (consumer price index), the increase in price of fossil fuels and local/domestic services.

Shouldn't really be confused.

I guess you could suggest the culmination of increase in living cost and 'credit crunch'. Though the only people who will really feel the 'credit crunch' are those who over extended themselves and struggled when rates went up. Yet rate increases occured before xmas. As the Base Rate has now dropped, inspite of banks not recducing theirs, they have been urged to not make the 'credit crunch' a self fulfilling prophecy and open lending books again. They should also pass on the benefit of the rate drop, but I guess they're trying to reduce their risk somewhat by taking advantiage of the 1/4% increase in rate spread.

I think the price at the pump had to take a large percenteage of the 'squeeze'. The extra cost of filling up not only nets the Chancellor more duty, but businesses have to pass that cost onto the consumer, reflected in the price in shops. Netting the Chancellor more funds by way of increased VAT.

I personally have noticed a small difference. A year ago, I'd be off in my cabby down to the coast and would think nothing of burning a good half a tank or more of petrol. Now I look for more cost effective options to fill my leisure time. So I've sacrificed a luxury in order to re appropriate the spending elsewhere.

"If you're going through hell, keep going!" - Winston Churchill

ORIGINAL: stavross

Smith machines are for girls mate.

Dont be fooled by the war or the last few dregs of Fossil fuel,the big wigs plan well in advance and know what will occur,things are all in place before hand the whole thing is too get more cash

If i said to you im going to dock everyone's wages by 15% there would be uproar,so instead i put pasta up 60%,other foods 10-20%,utilities,tax,all the so called stealth taxes which ever way you look at in ends in a reduction from your pocket,its the old case of the few breaking the backs of the many,Sadly this is the tip of the Iceberg and you wont believe what's coming,but by the time 99% of the population have twigged it will be far to late,all these things we see around us are not a bunch of laws,rules,taxes that dont make sense,put it place by some silly person who thinks only of the short term,its not a bunch of ill figured ideas randomly occurring as they want u to believe

This is the start of a very slip slope,read around the free media

Just had to go bankrupt so the f8cker pinched me right on the balls. To be honest I didn't really apreciate that prices were going up when I was in debt as I knew I couldn't pay so didn't really care. Now that I am on my way to getting sorted out I am watching all the pennies and the prices of some basic things you need to live are ridiculous.

My wages are going fecking nowhere though

Cardifflads new start

ORIGINAL: Rosc0PColtrane

Two entirely different things.

Credit crunch was a spin word coined by the media to summarise the financial difficulties of a few financial institutions, and the subsequent impact on lending.

The cost of living is due to increases in inflation (consumer price index), the increase in price of fossil fuels and local/domestic services.

Shouldn't really be confused.

Good point, nicely put.

 

why is everything going up apart from my wages

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I just voted before reading your post based on the 'credit crunch'

The credit crunch has not affected me at all yet

Cost of living and inflation however has, and I easily notice it.

My food costs like £10 a week more, whey has gone right up in price, eggs are right up, petrol is through the ****ing roof, gas and electric

It all adds up and take it annually means I need to keep working my arse off for a rise just to continue the life I lead now (which is pretty poor lol)

Tee Total 2008 Member #1 <- In other words, leader
 
I am now trying to go from tomorrow for as long as possible without a drink.  Preferably until October 4th (my sisters birthday) but I will break the fast if a night out

Not really noticed the price of food going up. But the price of fuel is shocking. Luckily I do few miles in my car, so petrol isn't doing too much damage to me. Gas and Electric though, shocking! Had a bill from NPower recently saying my monthly DD payment was going up to £91 a month. Not happy.

credit crunch = Makes no difference to me, I couldnt get credit last year and I cant get it now

Cost of living = Different altogether. The urrent fuel proces are fuking crippling me

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i dont understand how people cannot afford to pay their mortgages

i put a bigger deposit down and got my rate down from about 7.5% to about 4.5%

at the end of the day if you have a mortgage dont have holidays, or other luxuries as a priority

i am not going away (abroad) this year as i want to do 12 months in the house so i can see where i am at

obviously some unknown aspects may arise for people (eg redundancy, increased family)

<insert text here>

ORIGINAL: bmc

why is everything going up apart from my wages

Because your sh1t at your job?

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ORIGINAL: plug1

ORIGINAL: bmc

why is everything going up apart from my wages

Because your sh1t at your job?

I love it

Cardifflads new start

ORIGINAL: knoxville
you wont believe what's coming,but by the time 99% of the population have twigged it will be far to late,all these things we see around us are not a bunch of laws,rules,taxes that dont make sense,put it place by some silly person who thinks only of the short term,its not a bunch of ill figured ideas randomly occurring as they want u to believe
This is the start of a very slip slope,read around the free media

you think it is possible to manipulate the masses to the extent required, to fool all the people all the time?

I'm losing my job as a direct result of the credit crunch.

Just the fuel price issue thats getting to me a bit now. Paid 1.22 a Litre the other day for Diesel and still absorbing the fact that contracts were agreed when the price was less than 95p a Litre.

Ignore the trolls!

I heard some people have even resorted to living within their means.


seriously I am feeling it, food seems to have gone up so much, not to mention petrol

it hasnt affectted me at all.
cost of my credit is fixed rate on the car, and my wages have finally been paid in so ive paid off my overdraft, my credit card, and my holiday, now i just have 1800 left on another card so thats going soon.
I knew this was coming so ive spent over 6 months just clearing all my debts and hardly going out.
sold my 3.0 car for a 2.0 as i knew fuel would go up.

as for cost of living, i have tricks around this.
i do more cash in hand work now and i fiddle the books, as for fuel im going to get a diesel van soon and i buy stolen diesel as it is so it costs £15 to fill up the van instead of £80
buying dodgy diesel etc is a lot easier than people think. as for food, you can get this as well if you know who to ask and where to go. some lads around this way rob asda all the time, you get them knocking on the door offering meat and other foods cheap.

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ORIGINAL: Rosc0PColtrane

Two entirely different things.

Credit crunch was a spin word coined by the media to summarise the financial difficulties of a few financial institutions, and the subsequent impact on lending.

The cost of living is due to increases in inflation (consumer price index), the increase in price of fossil fuels and local/domestic services.

Shouldn't really be confused.

You neglect to consider how credit is mostly responsible for our inflationary woes. They are not different, they are related.

Since banks lend money they do not have (fractional reserve banking), pumping loads of credit into the economy (like the rotters did) deflates the debt money/savings already within the system and inflates house prices (more credit means higher prices). And when banks cease to lend the money (they never had) aka with a credit freeze or crunch, inflation, especially house price inflation, slows and then reverses. Though in the case of fuel and food, deflation here cannot occur if other significant forces e.g. biofuel productiuon, war, peak oil and gas, investor speculation, are in play.

ORIGINAL: wysiwyg

i dont understand how people cannot afford to pay their mortgages

i put a bigger deposit down and got my rate down from about 7.5% to about 4.5%

ORIGINAL: onion

it hasnt affectted me at all.
cost of my credit is fixed rate on the car, and my wages have finally been paid in so ive paid off my overdraft, my credit card, and my holiday, now i just have 1800 left on another card so thats going soon.
I knew this was coming so ive spent over 6 months just clearing all my debts and hardly going out.
sold my 3.0 car for a 2.0 as i knew fuel would go up.

as for cost of living, i have tricks around this.
i do more cash in hand work now and i fiddle the books, as for fuel im going to get a diesel van soon and i buy stolen diesel as it is so it costs £15 to fill up the van instead of £80
buying dodgy diesel etc is a lot easier than people think. as for food, you can get this as well if you know who to ask and where to go. some lads around this way rob asda all the time, you get them knocking on the door offering meat and other foods cheap.

sounds great mate

Tee Total 2008 Member #1 <- In other words, leader
 
I am now trying to go from tomorrow for as long as possible without a drink.  Preferably until October 4th (my sisters birthday) but I will break the fast if a night out