Credit card companies are cutting the borrowing limits of thousands of their customers; one of the latest repercussions of the financial crisis which is gripping the global economy.

 

On Monday, £51 billion was wiped off the value of Britain’s top companies and the pound suffered its worst one-day fall since Black Wednesday in 1992.

 

Is Britain heading for a Great Depression? Are you depressed about the economy?

Do you worry that your mortgage repayments are going to soar? Or are you concerned about tumbling share prices damaging your pension fund?

 

Or is it the stories of impending financial doom that get you down? Do you think that the credit crunch will affect large corporations and wealthy investors rather than ordinary people?

 

Is the turmoil in the financial markets the most depressing thing about Britain at the moment or is something else making you more miserable?

 

Source: Sunday Telegraph

 

Makes you glad for having cheap booze! ;)

theres talk of a global recession.... so its possible if not (after 11 years of financial stability and growth...a-hem) that its time for one.

Nothing we can do about it recessions are a global thing, America is in dire straits atm so it will naturally follow that we will get recession too

 

As the saying goes "when America sneezes everyone else catches a cold"

As the saying goes "when America sneezes everyone else catches a cold"

 

Which pretty much makes the whole Capitalist system an utter joke as far as I'm concerned.... So, we're basically fukked because of a bunch of Yanks who couldn't pay their mortgages (okay, a large over-simplification I'll admit, but this is, in a nutshell, what financial experts on various news networks have been saying is the main culprit of the current crisis)... Great..... <_<

 

And then you get a bunch of fukkin' white-collar wide-boys in the Stock Exchange the other week spreading unfounded rumours about certain banks being in "difficulty", which causes panic selling, and then these fukkers go around buying up shares cheap and making a killing... Christ, a bunch of blokes going into banks with shooters and robbing the place of a few hundred grand, or hijacking an armoured car full of cash has more honesty about it if you ask me.... Not to mention precious little actual effect on bank customers, seeing as how a bank's money is insured against thefts of this nature.... If a bank goes under because of arseholes and speculators spreading rumours on the other hand, everyone is basically FUKKED..... <_< <_<