Hope that my fellow DIYers are hanging in there...

[ENS Audio]

Geez it seems im the only one at work and around my friends and family that isnt totally negative and irrational atm everyone I know is paranoid and worried that we are entering into "unknown" economic territory and apparently a lot of people (nobody I know atm) are in a mess financially right now.  So I am just "spreading some positive reinforcement" with all the fearmongering and with IMO many of the employers and moneyholders using the economic slowdown as an excuse to work people more and pay them less.

So, if you're in a bind just dont worry you'll get around to finishing that LA2A before you know it!

Seriously from everything I've been following, we'll be fine except for many of those that have pensions or 401ks, you know...the folks that still stuggle with trying to operate a TV remote, no but seriously the ones closest to retirement sadly I dont envy atm for I have at least another 30+yrs if things go as intended (plan on moving to the 3rd world when I retire if the "3rd world" doesnt move to me sooner ???

 

[Rochey]

Agreed. Things are tough for everyone at the moment, and everyone is tightening their purse strings.

Funny thing is, that by tightening our purse strings, in some ways, we slow down the recovery.

2009 will be the year of paying off debts and doing some saving I think.

/R

 

[MartyMart]

Look on the bright side - it's a GREAT time to buy a new cheap car !!

Just got a magnifying glass/lamp from Maplins for £9.99 reduced from £29.99 !
it's a beauty

MM.

 

[Larrchild]

When you're chewing life's gristle,
Don't grumble,
Give a whistle
And this'll help things turn out for the best.
And...

 

[ENS Audio]

Look on the bright side - it's a GREAT time to buy a new cheap car !!

Just got a magnifying glass/lamp from Maplins for £9.99 reduced from £29.99 !
it's a beauty

MM.

I agree totally if you look at this from a traditional standpoint then this slowdown is cyclical in some ways.


Money/Finance experts care to comment???

 

[MartyMart]

In a weird "twist" of economics "rules" the more we all panic and stop spending / take money
out of banks etc - the worse things will get !!
I get that, but there's a lot of "average joe's" who DON"T get that at all - quite worrying !

Personally I have no great saving/investment portfolio so apart from a pension in 25 years time
there's nothing to worry about right now and being a self employed Musician/Producer, I'm used
to cyclic unemployment and never knowing what I'm doing 6 months ahead !!

Regular wage ! ...... never had one ...

MM.

 

[ENS Audio]

In a weird "twist" of economics "rules" the more we all panic and stop spending / take money
out of banks etc - the worse things will get !!
I get that, but there's a lot of "average joe's" who DON"T get that at all - quite worrying !

Personally I have no great saving/investment portfolio so apart from a pension in 25 years time
there's nothing to worry about right now and being a self employed Musician/Producer, I'm used
to cyclic unemployment and never knowing what I'm doing 6 months ahead !!

Regular wage ! ...... never had one ...

MM.

Heck...remember I live in the US and so you're dead if you cant maintain a regular wage BUT the argument that you'll hear is "US IS SOCIALIST LOOK AT ALL THOSE PEOPLE ON GOV ASSISTANCE"

Yeah theres people on gov assistance...a generation of people that never had a job while the "Working poor" might as well just drop dead for you have to live BELOW the poverty line which is under $20,000 per year. 

Do you have to be below the poverty line and to have NEVER worked in the UK in order to recv. temporary Gov assistance?  Also, are the benefits similar to what we have here in the US?

SSL Tech,being that you've been on both side of the pond, would you care to also comment?? ;D

 

[MartyMart]

No, you just need to be out of work for 8 weeks and have no savings.
The last time I was unemployed and on benefits was 1985 and it was NOT fun i can tell you !!
I didn't get much money at all so was back in work as soon as possible.

If you have some reason that you can't work and/or have several kids then you get
quite a decent amount ..... !!!

MM.

 

[ENS Audio]

No, you just need to be out of work for 8 weeks and have no savings.
The last time I was unemployed and on benefits was 1985 and it was NOT fun i can tell you !!
I didn't get much money at all so was back in work as soon as possible.

If you have some reason that you can't work and/or have several kids then you get
quite a decent amount ..... !!!

MM.

Interesting...I suspect the way things are in the UK probably arent much different than they are over here in the US except for our wonderful education system ;D

 

[sahib]

Currently the unemployment benefit in UK is around £260 per month. However, and a big however, if one knows how the system works one can make a lot more than that. As soon as one has a child, there is more available. If one has more than one child the life becomes really easy. All the money goes to drink, drugs and betting on dog and the child gets nothing. He/she grews up and the cycle continues.

 

[sodderboy]

In the recording studio biz, we hit our nadir a couple of years ago.  Now there are more and more studios being built in NYC area, some biggies, commercial and private.  So many consolidated or closed that there was a supply shortage, and now there is a demand for more studios.  Building, wiring, fixing; these areas have been booming all year.  The actual business models have changed in that there are no bloated staffs once they are up and running, but they are doing more than just scrape and survive.
I give thanks that I followed by broker's advice, and did not study to work in the financial world!  He told me to "keep my day job" and not get professional with one of my hobbies.
Go figure. . .
Mike