How much longer do you see us having Credit Crunch for breakfast?

[Uncle Remus]

EDIT: Title should say longer. Guess I was too blinded with animal like rage to see that >.< FIXED



Light hearted title but i'm pretty concerned. This morning I checked up on a currency convertor site because i'm considering getting a Vader cab from Italy.

And the exchange rate from euro to pound was like 91 cents to a GBP

On the news it has predicted the euro and pound will be worth the same in the not too distant future... THAT'S INSANE!!!

In my personal context (which i admit is pretty trivial compared to all the jobs being lost at the moment) i want that cab but it was almost a 1/3 less just 6 months ago.

And I'm pretty sure the dollar is about .60+ against the pound at the moment.

Anyone else cheesed off?

Fairly ridiculous question cos I know this is affecting most people in the western world today but does anyone have any personal gripes about the exchange rate, job losses etc?

/rant

Oh and if you got this far: sorry if there are millions of other threads on the credit crunch. I suppose one more can't hurt though

 

[stuh84]

Only thing I'm, not so much worried about, but it gets to me slightly, is the Intrepid 8 string I have on order. I bought it on the proviso it would probably be absolutely cheap as hell, but by the time its done, it could nearly be up to second hand RG2228 prices.

Insignificant compared to whats going on in the world, but if it was the price originally that its likely to end up at due to the exchange rate, I aint sure I would have bought it....

 

[Dive-Baum]

It will begin to ease by the middle of 2009. Don't get me wrong, it won't go back to the fast and easy standards of the real estate boom for many years but it has to ease up if for no other reason that the US functions on credit. Plain and simple. And as much as the rest of the world hates to admit it, they do to. I think the major catalyst will be government backed securities spreading out from being solely in the realm of mortgages (Fannie, Freddie, FHA, VA) and Student Loans to credit cards, personal loans and car loans as well. As soon as Congress starts listening to people who actually know what they are talking about, we will begin to see a recovery.

 

[hairychris]

Hm, it depends on where you are & what you're doing. It's only just started to hit my work, whereas a whole bunch of other industries from banking to boat building got spanked last year.

Certainly in the UK 2010 may start looking better but I don't think that we've seen the worst of it here yet...

 

[cpnhowdy]

Im guessing a few million jobs will be lost in 2009 which Obama will try to replace. But with states and retailers going bust he is going to have a hard time doing that.
Commercial real estate I believe is going to decline, especially with fewer retailers. That is not going to help alot of regional banks and quite a few may not exist in 2010.
I dont think banks will want to lend any time soon and smart consumers will want to save. I dont see any recovery in 2009.