Posted: Wed Feb 20, 2008 11:25 pm
On way back from hospitial tonight i called in to a garage for some fuel and as i walked to pay, i saw the headlines and two newspapers.
First one said "NO MORE 100% Mortgages"
Second one said "NOW WATER BILLS UP 10%"
I think the credit crunch as hit us, for one reason only, we are in a recession.
I remmeber speaking to my parents about the 80's when interest rates were sky high. My dad told me that by the time they had paid the mortgage, and bills, his wage had gone and he also had a part time job in a pub to pay for weekly food, I can remmber this i had to eat liver, i didnt like it etc etc. He told me the only treat my mum and dad had was 2 halves of large everyweek at the local pub, no expensive TVS years with out new clothes etc etc.
I wonder by the time the 90,s came along, the next generation, ie me leaving school and working, interest rates were better, we were getting paid and everyone started to question how much things cost and manufactures started to move to India and China etc to get goods cheaper and we could by them cheaper therfore we had more disposable income and the banks knew this and offered credit to everyone that wanted.
Now things are going up in price and people stop spending and look were we are now.
I am no politician but some one once told me that the reason why the interest rates were so high in the 80,s was that conservates were tring to get the country out of debts that labour got us in to in the 70's i wonder if this is happening again, ie 30 year cycle ( i must point out i dont vote, so i am not biased to any party).
These are just my thoughts without been a money expert or politician and trying to look outside the box.
What does every one else think about my theory?
First one said "NO MORE 100% Mortgages"
Second one said "NOW WATER BILLS UP 10%"
I think the credit crunch as hit us, for one reason only, we are in a recession.
I remmeber speaking to my parents about the 80's when interest rates were sky high. My dad told me that by the time they had paid the mortgage, and bills, his wage had gone and he also had a part time job in a pub to pay for weekly food, I can remmber this i had to eat liver, i didnt like it etc etc. He told me the only treat my mum and dad had was 2 halves of large everyweek at the local pub, no expensive TVS years with out new clothes etc etc.
I wonder by the time the 90,s came along, the next generation, ie me leaving school and working, interest rates were better, we were getting paid and everyone started to question how much things cost and manufactures started to move to India and China etc to get goods cheaper and we could by them cheaper therfore we had more disposable income and the banks knew this and offered credit to everyone that wanted.
Now things are going up in price and people stop spending and look were we are now.
I am no politician but some one once told me that the reason why the interest rates were so high in the 80,s was that conservates were tring to get the country out of debts that labour got us in to in the 70's i wonder if this is happening again, ie 30 year cycle ( i must point out i dont vote, so i am not biased to any party).
These are just my thoughts without been a money expert or politician and trying to look outside the box.
What does every one else think about my theory?