Is The Party Over Yet?

by Mike

Are any of us suffering from the credit crunch? I’m sure there are many since the figures are indicating that everyone from the average man on the street to the American owners of Liverpool Football Club are said to be struggling in the financial sense to try and make ends meet.

In the United Kingdom it is predicted that by 2012 as many seven out of ten applications for credit will be rejected as a result of the credit crunch. A survey by CBI and PricewaterhouseCoopers has shown that 44 per cent of financial companies said business volumes had fallen during the period from September to December 2007, while just 10 per cent said they had increased.

So are we noticing a change, is it harder to get a mortgage to help buy that first and/or dream house. Are we spending less time in the pub and more time cutting back to pay bills?

I ask all of these questions because I simply do not know. Every weekend seems to be like every other weekend; pubs and clubs seem to be packed and I’m still no closer to getting a seat in either place.

The majority of restaurants I pass seem to be just as busy. There seems to still be a large number of 08 licence plates attached to brand spanking new cars.

I guess until a recession really hits we will not see how bad things can get. We are lucky that we are in a society where it can be easy to bounce back from financial hardship then in war torn and poverty stricken countries. There seems to be a lot of opportunities, if not in this country then in others like ours.

I realise that to anyone who has recently lost their job that it may seem hard to believe, but as it stands we are not back to the grey old days of the 1980’s when Self Aid was needed. We could be mere moments away from that but for now it looks like the party is not ready to end just yet.

Wednesday, January 30th, 2008 and is filed under Thoughts & Questions, Views on News.