Credit Crunch!!!

Credit Crunch, Inflation, Flexible housing market, job losses and the list goes on..

You get to experience the inflation and credit lunch when you buy your groceries from a super market. For a simple example, the cost of a breakfast bagel increased by 10p overnight…And media covers hugely on housing markets now, which puts you into a dilemma to make a prudent decision especially to enter the property ladder for a first time buyer. Construction industries are on a clear slow down and many jobs were made redundant.

Yorkshire metro today covers on the proposed takeover of HBOS by Lloyds TSB leading to speculated job losses of over 40000 and 1000 branch closures. HBOS is one of the likes of student friendly bankers offering over drafts of over £3000. I quote, “Kevin Mountford of money supermarket.com has warned that a shotgun wedding would stifle competition”. The American colloquial phrase is well used here.

Experts in the corporate industry stress on no job-switches and resignations presently as it’s a volatile situation. Employers tend to make redundant the roles with ones with relatively less experience. Recruitment seems on a slow down with many industries especially IT, finance, construction and manufacturing and so with graduate schemes. I am unsure on referring this to ‘recession’. It certainly is a slow down but we need to wait and see how long the situation stays.