Credit crunch..

[MJG]

I'm really sorry but I am getting heartily sick about hearing about the share price on Wall Street/London stock exchange.

Each morning we read about a cash injection from our governments resulting in a rise in shares which by late PM evening has fallen again. Surely there is someone out there making massive bonuses from this, other wise it would have stabilised by now.

Sorry rant over, just looking forward to my Orlando trip next year!!

[Katys Grandad]

I always look forward to my next trip to Florida but unfortunately one effect of all this is that it will cost me quite a bit more because the value of Sterling is falling through the floor. It's now worth around 20% less than this time last year and I'll do well to get $1.65 today.

The $2 pound seems a distant memory these days.

[Tonish]

You're seeing history in the making MJG. Current events will be taught in economics classes for years to come. We haven't seen conditions like this since 1929 and no-one yet has any idea where it will end.

It would be great if it wasn't on the news, it might mean it's easing and people could get a chance of seeing their families. No-one's thinking about bonuses, they're all just concentrating on getting their jobs done in really difficult circumstances, which means thinking fast and furious all day long. 16 hour days for weeks on the trot, with no end in sight and every one of those days utterly exhausting. But you should see how these guys rise to the challenge.

It's costly too. Remember, remuneration is usually heavily in shares and in many cases these are now worthless or only a fraction of their value a year or so ago.

Nobody wants to be the next City guy filmed outside his office with a cardboard box in his hands. I know there's no sympathy out there, and I don't think anyone's looking for it in any case, but a bit more understanding of how it all works would be great. There's a lot of schadenfreude about and it's unpleasant to watch, especially as it's largely based on ignorance.

I have cancelled my Christmas Florida trip. The only good news is that getting paid in dollars works in my favour at the minute - so sorry, Katy's Grandad, I don't want a $2 pound until I'm retired (forcibly or otherwise!)

[edlea]

Tonish : "No-one's thinking about bonuses, they're all just concentrating on getting their jobs done in really difficult circumstances, which means thinking fast and furious all day long. 16 hour days for weeks on the trot, with no end in sight and every one of those days utterly exhausting. But you should see how these guys rise to the challenge.

It's costly too. Remember, remuneration is usually heavily in shares and in many cases these are now worthless or only a fraction of their value a year or so ago.

Nobody wants to be the next City guy filmed outside his office with a cardboard box in his hands. I know there's no sympathy out there, and I don't think anyone's looking for it in any case, but a bit more understanding of how it all works would be great. There's a lot of schadenfreude about and it's unpleasant to watch, especially as it's largely based on ignorance. "
Errrr Right . OK.

I haven't a clue who you are or how you earn your living.
However, your post SEEMS to imply Joe Public should have some sympathy for executives who have had their snouts in the trough for the last x years. (If I've misread or mis-interpreted your post, please forgive me)

Anyone with a smidgeon of sense could tell you a very simple piece of economics : you can't spend more than you earn. The fact that the "banking industry" , the "City" and "Wall St." and their like have been telling everyone for the last 15 yrs that that's nonsense was bound to bite them on the ar*e sometime.

And exactly who will pay ? The innocent millions worldwide who will be unemployed in the recession which is CERTAIN to come. Pensions and savings made worthless. And you expect people to feel sorry for those who caused it ??? Is a bloke on minimum wage expected to feel sorry for executives who have been trowelling bonuses in the millions ? Do me a favour !

"I know there's no sympathy out there" = Dead right.

A little more humility from the *ankers would be in order.

[orlandodaze]

I honestly believe all of us will in one way or another will pay the price for the total incompentence of those who should know better.
The Celtic Tiger in our part of the world did make some people very wealthy ,but most of us normal mortals only got a wee switch of his tail ,we kept our feet on the ground.
Our only extravance is our trip to Florida every year.
Now those of us who know are aware that a Florida holiday is the best value for money you can get ,will hopefully continue to holiday in the place we have come to love and very much enjoy.
My thoughts and love are with al those who are in danger of losing their jobs ,my own sons job is far from safe at the moment but we must remain positive .
Perhaps some good will come out of this ,and we will all learn to take care of each other.

[FraserLynn]

We seem to want things all ways. we are quite happy when "those people" are generating long term wealth for us but when they stop, well they should never have done it that way anyway.

There is no doubt at all that we have had it good for a very long time, in fact probably too good, but i for one enjoyed it and hope for more.

I was recently in Poland and I have to say that I found the whole country an inspiration. There was a whole race doing what ever they could to deliver their own future, working hard and enjoying it whilst they moved things forward together, not bemoaning their fate or blaming someone else. They weren't sitting there waiting to be made redundant and complaining about it, they did everything they could to progress their lot.

That is not to say that redundancy or loosing your job is the persons own fault, so often it is not, but, I also see so many people who create their own fate by deciding it is inevitable and instead of asking themselves what they can do to help their business move forward and save their jobs , they batten down the hatches and moan about "people in the city" - wasted energy![msnmad]

So my approach is a simple one I will continue to work really hard and in the mean time I am going to have enough confidence in my own ability and hard work to continue to enjoy the things that I can. [msnsmile2]

[glasgowmary]

well i m just sorry for all ,it's a hard enough time without casting blame.

[Susan J]

I think we should all book an extra trip to Florida to ease the depression -try that in the office Tonish, lets see how the idea flies eh?

[mfairhurst]

I agree Susan J at least when you get there it is cheaper and a friendly place not like here with the hangups that spoil Uk .
This is not new and it is bad business men who have caused it and remember Enron in Usa they delt with them also some men from a uk bank was in court and got sent to jail this year .
We sent a letter this week to pay tax for our villa and it had our name and adress on the top but usa address on the front going to Tallahassee,It had a 56 pence stamp a blue internatinal stamp and guess what it came back to us this morning it has happen onces before and the post office at Asda could not beleive it, So this morning we ask our postman to take it back to the office and he said he could not so he gave us a card with a local number to ring and guess what again it said they have a high volume of calls so it cut us of ,This is big business in UK i do not think .
We have been made redundant 3 times with big companys and got on our bike as the man said we all know who what happens to people now no were to go .
We had to laugh or screem .
Rant over but it will happen so we just get harder[msnsmile2]
MAUREEN
www.onlinefloridavillas.com/villas/1683.aspx

[flyrr100]

Living here in Florida I'm seeing about the same as you guys are seeing in The UK. My 401k (retirement account) lost $20,000 in two weeks. About all the equity I had in my house is gone. I just about owe what it's worth. The lease is up soon on Amy's Explorer and I don't know where I'll get the $2000 I'll need to put down for the next car. I have a 16 year old that is starting to look at colleges. I could go on but I wont.

I do agree with Tonish though. We are experiencing history here. I do think it's going to get worse before it gets better. Look at GM. Their stock is falling below $5. Ford is below $2. I can see huge layoffs soon that will effect the world. Airlines will fail. And the small business' that are the backbone of the shopping malls and plazas will start to disappear. My local mall here in Ovieido has many empty positions.
On the plus side oil seems to be going down finally. Under $80 a barrel.

Our belts are tight, and Santa won't be bringing any high end items this year.

But Chelsea are on top! Can't be all bad!

[blott]

If you have your health and your family, then you're a very rich person indeed, no matter the state of your finances or the global market or whatever. Just consider yourself very fortunate as a lot of people have neither and money can't buy them.

[luckylady]

I have been around quite a few years, witness bad times and good,many over and over.
I do believe that it doesn't do us any harm to hit the rocky road from time to time.Makes us all take stock and realize what is precious. and meaningful in our life’s

As Blott indicated health has to be top of the list, money doesn't buy health or Paul McCartney’s first wife would still be alive today.

I watched a close friend lose a young child with leukemia 25 years ago, and from that day to this her life has been affected one way or another by the tragedy.

We are a materialistic society even more so now that ever before, I openly admit I am as bad as the rest,I love shopping and spending money gives me a great buzz.

But I also realize if push comes to shove that my health and my families health is top priority the rest we will have to cope with the best we can. We don’t want too but we haven’t a choice, unless we win the lottery. [msnwink][msnwink]

[chrizzy100]

I've spent more this last month or so than I ever have...I think its all the bargins..I live in an area of the US that is having a growing spell...homes are selling at a fair price...we have a lot of new shops and restaurant's open and doing well...funny enough its the chains being hit by us...not the local stores...

[another]

<blockquote id="quote" class="ffs">quote:Originally posted by luckylady
I have been around quite a few years, witness bad times and good,many times.
I do believe that it doesn't do us any harm to hit the rocky road from time to time.Makes us all take stock and realize what is precious. and meaningful in our life’s

As Blott indicated health has to be top of the list, money doesn't buy health or Paul McCartney’s first wife would still be alive today.

I watched a close friend lose a young child with leukemia 25 years ago, and from that day to this her life has been affected one way or another by the tragedy.

We are a materialistic society even more so now that ever before, I openly admit I am as bad as the rest,I love shopping and spending money gives me a great buzz.

But I also realize if push comes to shove that my health and my families health is top priority the rest we will have to cope with the best we can. We don’t want too but we haven’t a choice, unless we win the lottery. [msnwink][msnwink]
[/quote]

I totally agree. Our 3 year old nephew died of Meningitis 18 years ago and another nephew, just 22 years old, died of natural causes earlier this year. My husband was made redundant 6 months ago and we are going through tough times but we are healthy and when I see my sisters and brothers in law I know that nothing can bring back what they have lost. We will hopefully come through this, it has made us take stock of what we have and be grateful. I love shopping too but I window shop now and I haven't missed what I haven't bought!!

[E. Cosgrove]

<blockquote id="quote" class="ffs">quote:Originally posted by blott
If you have your health and your family, then you're a very rich person indeed, no matter the state of your finances or the global market or whatever. Just consider yourself very fortunate as a lot of people have neither and money can't buy them.
[/quote]

Hear hear!!

The credit crunch terrifies me, not for myself as we will manage, but for my sons and their wives, none of them whose jobs are secure. However, over the past 12 months their have been several incidents that have brought home to me how important your health is, without good health money means nothing.

Thankfully I have a wonderful family, and hopefully, together we will weather this storm.

[Tonish]

Thanks for your comments edlea.

I make a point about schadenfreude and ignorance and immediately you pop up to demonstrate it perfectly. Couldn't have asked for more.

I did say, no-one's looking for sympathy, but a bit more understanding of how it all works would be great. Your view of who's at fault here is a bit narrow, to say the least. I would suggest that if you want to point fingers, you need more than 10 of them.

If it helps, I'll find some sackcloth and ashes... but on second thoughts, it's the weekend and I have other things to do.

Enjoy your schadenfreude - I believe it tastes better with a little cream on the side.

[floridadreamvilla.co.uk]

And on that note, I think this thread has run it's course.

The forums are for talking about Florida and vacationing in general. If people want to discuss the intricacies of the credit crunch or whatever I would suggest there are much better fora dedicated to that kind of thing out there [msnsmile].