Anyone Else feeling the Recession Bite?

I work in essential services and we feel the pinch. No raises bonuses no overtime. When people do leave we do not replace them.

What makes it worse i think all can agree is that after a year of fuel and food increases like crazy we all needed increases and promotions to keep us a float.

I fear that the light in the end of the tunnel is a train. :(
 
Mila said:
I work in essential services and we feel the pinch. No raises bonuses no overtime. When people do leave we do not replace them.

What makes it worse i think all can agree is that after a year of fuel and food increases like crazy we all needed increases and promotions to keep us a float.

I fear that the light in the end of the tunnel is a train. :(
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Well, its either the train or the Bank Manager with a spotlight......dont really want to find out which... :rolleyes:
 
sly said:
Our company seems to be getting too much work.... in Africa and South America... emerging markets....
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Okay, I'm going to hazard a guess here. You're a consultant, maybe a corruption consultant, advisor to governments on how to distribute ill gotten wealth? :D

The company I work for seems stable at the moment but then again we provide quite an essential service to businesses...
 
Sigh I'm not cutting end's meet. Debts exceeding income because commission is not coming in.

Business is poor but I can't honestly that it isn't without fault of pathetic branch management. Stock turnover is pathetic but even without that as a factor, sales are definitely down.

\off topic - Mila was the ad so good that you made the tagline your sig :D
 
The company I'm working for's going belly up. To be fair, I saw this coming since before the whole recession thing since the guys in charge can't manage the personnel to save their lives. I warned them, but instead of listening, they decided to screw me over. Sucks to be the director with all of this debt.
 
I haven't noticed any change in the company I work for. Profits are probably not as high as they could be but at least the company is still hiring.
 
Things are getting tighter - especially with the increased cost of living. I don't see much response from businesses in terms of special sales/deals yet. I think they've been very slow with that.
 
Damn this is depressing considering I'm just entering the working world. I just got my Education (teaching) degree this year. I guess there is a shortage of teachers which is a bonus I suppose (for prospective teachers that is).
 
The full impact has yet to hit the SA economy. We are seeing the tip of the iceberg with job losses in the mining and motor production industry. This will cascade to all walks of life very soon, as the knock on effect hits home. All the peripheral inductries ans support services are already under pressure. There will be less disposal income in most households, meaning less consumer spending, ergo lower demand for goods therefore the entire supply chain will be clogged up. The sad reality is that the shareholders/owners of all these companies are still demanding exhorbitant returns as well as year on year growth on their investments. If you have not yet tightened your belt, start now!!
 
moggie said:
The full impact has yet to hit the SA economy. We are seeing the tip of the iceberg with job losses in the mining and motor production industry. This will cascade to all walks of life very soon, as the knock on effect hits home. All the peripheral inductries ans support services are already under pressure. There will be less disposal income in most households, meaning less consumer spending, ergo lower demand for goods therefore the entire supply chain will be clogged up. The sad reality is that the shareholders/owners of all these companies are still demanding exhorbitant returns as well as year on year growth on their investments. If you have not yet tightened your belt, start now!!
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Let's not talk ourselves into a depression. If it isn't here, we don't want to hasten its arrival.
 
what recession?
If people have money issues its probably because they've been overspending and over borrowing for years and are now blaming the "recession".
 
moggie said:
Recession? What recession? !!!
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capetownguy said:
what recession?
If people have money issues its probably because they've been overspending and over borrowing for years and are now blaming the "recession".
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You can choose to ignore the signs by definition if you so want--but it does not negate the signs that an economic recession is looming.

"The definition of recession is unpopular with most economists for two main reasons. First, this definition does not take into consideration changes in other variables. For example this definition ignores any changes in the unemployment rate or consumer confidence. Second, by using quarterly data this definition makes it difficult to pinpoint when a recession begins or ends. This means that a recession that lasts ten months or less may go undetected."

"A general deficit of effective demand would lead to a very long slump--A crisis in confidence could send stock markets plummeting, meaning companies go out of business, meaning more redundancies and fewer people with jobs, meaning people have less money to spend, meaning businesses have fewer customers, meaning more companies go out of business, and so on..."
 
I work too jobs and I still cant keep my head above water times are really taking their toll and I don't know what to do.:(
 
vatso said:
You can choose to ignore the signs by definition if you so want--but it does not negate the signs that an economic recession is looming.

"The definition of recession is unpopular with most economists for two main reasons. First, this definition does not take into consideration changes in other variables. For example this definition ignores any changes in the unemployment rate or consumer confidence. Second, by using quarterly data this definition makes it difficult to pinpoint when a recession begins or ends. This means that a recession that lasts ten months or less may go undetected."

"A general deficit of effective demand would lead to a very long slump--A crisis in confidence could send stock markets plummeting, meaning companies go out of business, meaning more redundancies and fewer people with jobs, meaning people have less money to spend, meaning businesses have fewer customers, meaning more companies go out of business, and so on..."
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I have an economics major. I don't doubt the economy is struggling and the effects are being felt by many.

My only point is that the troubles people face today in many cases are due to poor decision making and overspending for years, not simply due to a recessionary environment.
 
Me missus has a business in the automotive engineering sector. Problem is there also that alot of the smaller guys are closing down and going out of business.

These small guys provided the profit. The bigger clients basically cover the overheads and the little guy helps to keep the extra cash coming in.

Without that we have reverted to a single income family, luckily I sold off my plot where we had intended to build our family home, and paid off the bond on the only other place and the remainder of the household debt.

I am just saving up the extra on my income, so that by the end of the year , we can pay up outstanding debts on the machinery for her business.
 
The problem is this recession is going to affect everyone even if they're not struggling to make ends meet.

My biggest concern is that I don't think we've even begun to see the effect it's going to have on crime such as break-ins, hi-jackings and petty theft.
With all the job losses, the influx of foreigners and the hike in food prices people are going to be squeezed beyond what they can manage.
It's going to get ugly out "there" ...
 
i think this is a result of us living beyond our means...
 
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