How To Make Yourself Recession Proof.

Banks and City law firms are expecting an unprecedented jobs purge as the recession gathers alarming momentum.

In the latest quarterley survey the Confederation of British Industry warned that business and professional services firms will shed staff at an alarming rate in the New Year in a bid to survive the slow down.

The CBI's dire prognosis for the services sector which is more than half the economy, will cement fears that the UK is heading for a deep and prolonged recession.

This situation seems totally extraordinary, given the speed at which this has happened - it's absolutely frightening.

It would seem that virtually no sector of the commercial and industrial working world is going to be safe from this absolute disaster, so individuals must take some sort of action now to help themselves ride out the recession until the upturn happens, hopefully sooner rather than later.

We know that Alistair Darling and Gordon Brown want the Banks to pass on the reduction of interest rates brought in by The Banks of England, now would be a good time to INSIST the banks tow the line and drop their own interest rates NOW, this would help the situation pretty quickly - come on Gordon and Alistair, show some real grit and make the banks comply, otherwise, what was the point in bailing them out with tax payers money!!

I have, personally decided to start my own internet business to help bring in some much needed cash and I think that a lot of people will need to do the same, making yourself recession proof is an absolute must, jobs are not going to be freely available for some time, now is the time to act, dont't wait until the bailiffs come knocking.

Make Yoursel Recession Proof

By now we all know the effects of this recession, what with millions of jobs going in just a few months - massive companies that have been trading for decades are under threat of closure, and all of this is due to Banks making erronious commercial decisions.

Now - the banks have been bailed out by governments to the tune of Billions of tax payers money, it is now time for the banks to tow the line and reduce their interet rate charges immediately and lets get the economy growing again - and fast.

I really do not think that these arrogant banks who have got us in this mess in the first place, should now be allowed to do whatever they want, they have been saved from going under by the tax payer, now it's pay back time - the tax payer wants their expenditure reduced, the financial burdens reduced and security in their homes and jobs.

Governments must act now to, if necessary, enforce the procedures needed to have interest rate cuts passed on directly and IMMEDIATELY to the public.

It's going to be a bleak Christmas for many people this year, none of it their fault, this is not right and actions must be taken now to stop things getting even worse.

I am a pensioner, living on my state pension and some private pensions I had been paying in to for thirty years. Like many others who were prudent in their working life, I put savings aside to ensure my retirement would be reasonably finan cially comfortable. Only to find the interest from my savings is halved, the gas and electricity, along with food prices are through the roof.

I am lucky inasmuch as my mortgage is paid off, but I really do feel very sorry for those who have mortgages and could lose their jobs. It's not their fault this whole recession mess has happened, so why should they be suffering now.

GET THE BANKS TO TOW THE LINE - BRING INTEREST RATES DOWN NOW.

The Bank of England At 2%

The Bank of England have dropped the bank lending rate to just 2% in the hope that this will kick start the economy and the banks will pass this lower rate on to mortgage holders, thereby saving monthly expenditure for families, giving them more cash to spend in the shops.

It would already appear that this drop in rates will not infact be passed on to some mortgage holders for various reasons eg. fixed rate mortgages and other terms and conditions, which in real terms means that the banks will benefit mostly from this lower interest rate.

It would therefore, I presume, mean that banks will be able to pay the Government (the tax payer) back more quickly - some banks have been leans Billions of tax payers money to stop them from going under.

Wouldn't it be nice if the Banks were INSTRUCTED by the Government (tax payer) to lower their interest rates to mortgage holders and borrowers alike, this would surely help kick start the economy immediately. Surely the Government has the clout to be able to enforce such measures,otherwise, why lend money to keep these banks going, if it was not for the common good of the British people.

The Ripple Effects of The Recession.

We all find ourselves affected by this recession one way or another - the question is, how do we get through it.

I am amazed how quickly this happened and I still do not understand what actually caused it.

I read in the newspapers that the Banks have lent too much money to people who could not keep up the payments on their mortgages etc, the banks foreclosed on the customer - the house is then sold, quite often below the value of the original mortgage - everybody loses.

Why did'nt the banks help the client to stay in their houses by increasing the mortgage gradually, therefore allowing time for their clients to get a better paid job, or even a second job. It would have made a lot more sence - people would not lose their homes, the banks would still have monies coming in - everybody gains.

Greed could also be a reason this whole mess happened, insomuch as bank employees and bank managers get bonuses for signing up clients to mortgages and loans - if proper credit checks were carried out about potential clients salaries, some people would not have been lent money to buy houses that they really could not afford. In some cases people were lent money over and above the mortgage.

Proper rules and regulations need to be put in place to stop this madness happening again, because it's the ordinary people who are suffering now through no fault of their own.