1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. Hi Guest, welcome to the TES Community!

    Connect with like-minded professionals and have your say on the issues that matter to you.

    Don't forget to look at the how to guide.

    Dismiss Notice

IS THIS RECESSION MORE SCARY THAN THE EARLY EIGHTIES?

Discussion in 'Personal' started by Pageant, Mar 2, 2012.

  1. Pageant

    Pageant Occasional commenter

    Having got married in 1970 and then gone to teacher training college at a time when almost everybody had a grant and when a good semi-detached cost us £3,400 ....... sigh...........
    I choke at what some folk think is poverty these days (someone mentioned huge TVs and leather sofas) When we moved into our house having put down a £1,000 deposit (hubby's inheritance from a family member) we had bare floorboards for many months, no phone, a black and white second hand telly with a picture that contstantly (literally) waved around, a second hand fridge and no freezer or washing machine. We also had no car so I had to walk to get supermaket shopping and carry it back (not on a bus route) and had to walk with the dirty washing to the launderette. Holidays never happened. We survived and saved up to buy things.
    I suppose we've managed through a couple of recessions and our children have gone through university and we've worried ourselves silly about lack of jobs and opportunities for them especially now.
    We were actually the lucky ones. Jobs were easy to come by and houses were cheap. We may have lived on bare floor boards because we couldn't afford carpets but that was the norm then. People struggled and moved on. Expectations are very different today especially for those who have no intention of working (the feckless) because their benefits provide all the luxuries we waited years for.
    Getting off high horse and not in any way referring to anyone posting on here.
     
  2. T34

    T34 Established commenter

    According to Wikipedia,
    "In 2009 the UK manufacturing sector generated approximately £140 billion
    in gross value added and employed around 2.6 million people."
    " In 2008, the UK was the sixth-largest manufacturer in the world measured by value of output.".
    Compare with..."Financial and business services added gross value of £86 billion to the UK economy in 2004."
     
  3. The Red Heron

    The Red Heron New commenter

    I agree with Middlemarchs early post. I just cant see this so called recession when I go down to gunwharf quays (swanky complex in portsmouth) on a monday night and see nandos, ask, pizza express, and numerous other mexican, american and continental eateries packed full of people knocking back bottles of wine at £20 a go, Christmas shooping and retail figures were UP let me remind people, attendances at sporting and musical events is UP and inflation is 3% so this hysteria needs to be evened out with some facts and reality
     
  4. LUXURY
    We used to have to get out of the lake at three o'clock in the morning, clean the lake, eat a handful of hot gravel, go to work at the mill every day for tuppence a month, come home, and Dad would beat us around the head and neck with a broken bottle, if we were LUCKY!



    Sorry...couldn't resist. :¬))

     
  5. Gravel?
    Swanky g!t.
    We used to eat a handful of hot sick, get up before we'd gone to bed and pay to work 27 hours a day at t'mill.
    Then we'd come home and dad would murder us, if we were lucky!
    (profuse apologies to the serious correspondents on this thread)
     
  6. I think we may get into a bit of trouble, twirly. :¬))
     
  7. Middlemarch

    Middlemarch Star commenter

    You can laugh, but for those of us actually from Yorkshire, it's all too true...
     
  8. kibosh

    kibosh Star commenter

    I only got as far as this post whilst reading this thread because this is what I was going to say.
     
  9. marymoocow

    marymoocow Star commenter

    How bad any recession is dependant on how it affects you and your family. We left uni in the early 90s recession and hubby found it harder to find a job where we trained so we had to move back to our home town. That was the hard bit. The benefit was that the housing slump meant we could afford to buy a much bigger house, something that has benefitted us as we have moved up the housing ladder. Rents were much more expensive in those days and in fact I couldnt afford a bedsit on my own with a teachers wage. That said we had a different attitude to nowadays. Most of our furniture was passed down from family. Our only new furniture was a bed and an ex rental TV. We still cant justify sky or expensive mobile phone contracts even though we can afford them.
    As for this year, yes the petrol and other expenses are extortionate and I feel for those that cant afford the rises, but as 2 professionals at the top of the payscale, we are fortunate to have a lot of disposable income so it hasnt affected us yet. However retirement is another matter and it is our long term future this recession has affected. The effects on our pensions, due to the government and private employers cashing in on the recession, has been catastrophic and we are now faced with using our disposable income to plan for our retirement and wont beable to help our children through uni as we thought we would. Even with careful management of our spare income I cant see us retiring as early as we planned and we certainly wont be enjoying as many if any holidays that our own parents are now. Even my dad who felt he got a poor pension compared to many of his peers has shut up moaning as we are going to be lucky if we have half of what he gets.
     
  10. This recession, compared with that of the 80s or 90s, has the peculiar phenomenon of high inflation but low interest rates. Previously, say in the 80s, inflation was 20% but the bank rate was not far behind. With interest rates for savers being so low, even a significant amount of money on deposit earns very little. For anyone saving for, or to supplement, their pension, the effects of high inflation and low interest rates are catastrophic.
     

Share This Page