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[Poll]
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Who feeling the pinch credit crunch today?
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| Nothing changed for me |
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| I feel the diffrence a little bit few things changed |
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| I feel the diffrence hell of alot now alot changed |
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| I feel the diffrence mega loads alot more then ever had to change |
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Total Votes : 24
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(last vote on : May 12 2008 11:10:03)
(Poll will run till: -- )
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RE: Who feeling the pinch credit crunch today? - May 11 2008 12:18:03
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Rosc0PColtrane
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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.
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RE: Who feeling the pinch credit crunch today? - May 11 2008 12:27:28
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knoxville
Posts: 2357
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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
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RE: Who feeling the pinch credit crunch today? - May 11 2008 14:20:47
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Cardifflad
Posts: 8370
Joined: Nov. 15 2004
From: CARDIFF
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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
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RE: Who feeling the pinch credit crunch today? - May 11 2008 15:05:13
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bmc
Posts: 778
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From: near glasgow
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why is everything going up apart from my wages 
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RE: Who feeling the pinch credit crunch today? - May 11 2008 15:44:41
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BIG Matt
Posts: 50
Joined: Apr. 8 2008
From: Cumbria
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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.
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RE: Who feeling the pinch credit crunch today? - May 11 2008 16:15:21
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yiddo
Posts: 2952
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From: Newcastle
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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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RE: Who feeling the pinch credit crunch today? - May 11 2008 16:21:54
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wysiwyg
Posts: 1072
Joined: Mar. 17 2008
From: Manchester, England
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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)
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RE: Who feeling the pinch credit crunch today? - May 11 2008 16:27:43
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ThePluggedOne
Posts: 8219
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From: Hamilton United Kingdom
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quote:
ORIGINAL: bmc
why is everything going up apart from my wages
Because your sh1t at your job?
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RE: Who feeling the pinch credit crunch today? - May 11 2008 16:38:35
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Cardifflad
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quote:
ORIGINAL: plug1
quote:
ORIGINAL: bmc
why is everything going up apart from my wages
Because your sh1t at your job?
I love it
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RE: Who feeling the pinch credit crunch today? - May 11 2008 16:59:03
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Medusa
Posts: 3504
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From: the past
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quote:
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?
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RE: Who feeling the pinch credit crunch today? - May 11 2008 17:02:38
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Crunch
Posts: 1318
Joined: Oct. 23 2006
From: Stoke on trent
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I'm losing my job as a direct result of the credit crunch.
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RE: Who feeling the pinch credit crunch today? - May 11 2008 18:06:00
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tuc biscuit
Posts: 6454
Joined: Sep. 27 2003
From: Manchester UK Joined: Jun. 12 1993 Posts: 98675
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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
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RE: Who feeling the pinch credit crunch today? - May 11 2008 18:10:00
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187
Posts: 4254
Joined: May 31 2007
From: southend essex
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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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RE: Who feeling the pinch credit crunch today? - May 11 2008 18:17:16
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Yohimbe
Posts: 606
Joined: May 10 2008
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quote:
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.
< Message edited by Yohimbe -- May 11 2008 18:24:17 >
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RE: Who feeling the pinch credit crunch today? - May 11 2008 20:13:08
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Surferph34
Posts: 1305
Joined: Jul. 9 2005
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quote:
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%
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RE: Who feeling the pinch credit crunch today? - May 11 2008 21:10:28
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CheeseOnToast
Posts: 4018
Joined: Aug. 1 2004
From: United Kingdom
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quote:
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 
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