General Chat

Hi Gwyn,

Apparently the British Govt has said that local authorities were not reckless in depositing their cash in Icelandic banks and will be reimbursed. so you should be safe there.

I quite understand your point about children - up here in the north, we've got loads of kids who were half way through an apprenticeship in the building trades who've now been laid off. Neither fish nor fowl.

And the root cause of this lot was.........


:Lol Sue

Our county council has £20 million in Icelandic banks. We are told this will not have an adverse effect on services........?
With that money to recoup, something has to give.

I have seen many small shops shutting locally. A local major employer relocated last year. It is hard to advise youngsters about what would be a good course for study. ..Will there be a job at the end of it.?

sock-less and fancy free, then!

Sorry Sue .... I only accept real money pmsl

Thanks Ann

Do you by any chance take Icelandic dollars?

Lol Sue-in-an-igloo

Thank you Sue .... and as my first customer .. a special price to you of £20 :) for a pair that is .... well I put my heart and sole into the knitting of said socks :)

I'd love to buy some socks, as long as you toe the line. I'd hate to be dealing with a heal.

(Off to Reykavik to demand the return of Icelandic dollars)

Lol Sue

Of course Rose .... they aren't just any old socks !

are they your hand knitted ones Ann? :)

Does anybody want to buy any socks ? they are very reasonably priced :)

Lol Sue, if you have a good alarm and locks it probably is!

xx

Hi Rose

I'm beginning to think that the bank of the "sock under the bed" would be the safest repository for my tiddly bit of cash.

Lol Sue

Hi Sue,

so many councils put money into Icelandic bank also...so there will be a shortfall in funds there..which will inevitably have to be made up by council tax payers .

I have just put money (from my house sale) into a 6 year fund...it is a 'no risk' one so if the worst comes to worst i will get back all the money...but I could have gone with the 'risk' ones that really are gambling....

have always thought it is better to put your money into property if you can afford to sit it out through the times like now when property prices slump.....

xx

Hi Rose

Thanks for an interesting thread.

What I find more than a bit upsetting is that this whole thing was caused by greedy hedge fund managers who were gambling - and I do mean - gambling with our money. All backed with a house build on sand.

I heard the local Bank of England representative talking up here recently and he said that the clearing banks had been used to thinking in terms of "return on capital" and were now thinking in terms of "return of capital".

Here's my personal opinion - my hard earned savings and pension should not be the toys of speculators (even if they masquerade as bastions of society) - things we all rely on, like the utilities (gas, electric etc) and personal banking - should not be the subject of private profit. These are things that our government should control for the greater good.

Lol Sue

nudge for the evening :)

I have come to the end of my working life and feel for the younger generation not being able to find work through the lack of jobs out there. Your greedy bank managers and gravy train MPs are doing Ok as usual. Are these people really looking out for the younger generation or are they talking empty words as usual.

I happen to live in an employment black spot , so am not expecting the current crisis to affect me to much personally.

My son has just managed to get his first proper job in a shop that is opening this week in town , he did the collage thing for several years but couldn't find employment in the area he had studied.

Hopefully our town will buck the national trend and actually be on the up , as we are getting the long awaited ( 20 years ! ) outer harbour.

As for " home ownership ".....I have never stood a snow-balls chance in Hell on that front.......lol
My heart does go out to the folk that have been badly advised and ended up getting massively in debt.

Amanda

Agree with you Merlin

xx

Merlin i agree with you and said that years ago ..... if they are out of work they should get help or on low wage .......

hi rose theres not much for the younger ones here .. cant see him finding one easily fingers crossed .........


thanks barbara..........xx