Lessons you learned from the recession?

[Pho3nix]

Hi

So had a chat with my parents regarding the recession and how that experience was all in all and I was a little shocked at all the things I didn't notice in the ignorance of youth
So basically my question is how hard did the recession hit you and what did you learn from that experience?

Dankie

 

[LCBXX]

Is/Was there a queue at Woolies since 2008? Yes? No recession then.

 

[Purply]

Which recession are we talking about?

 

[Garson007]

Hairline recession.

 

[Fudzy]

Is this the question your teacher gave you for your holiday assignment?

 

[SauRoNZA]

If you didn't overextend your finances before the recession and by that I mean you didn't follow the bank's general 1/3 affordability rule then you should hardly have noticed the recession.

If however you were in over your head or suffered an unfortunate event like losing your job then that's another story.

 

[Pho3nix]

Is this the question your teacher gave you for your holiday assignment?

Really?

Hairline recession.

Trolling this early?

Which recession are we talking about?

Mid 2000's

 

[Fudzy]

Well the recession hardly touched us compared to the US and Europe.

 

[Slootvreter]

If there was one, it's not over.

 

[themba990]

Hi

So had a chat with my parents regarding the recession and how that experience was all in all and I was a little shocked at all the things I didn't notice in the ignorance of youth
So basically my question is how hard did the recession hit you and what did you learn from that experience?

Dankie

Why don't you share some of the wisdom your parents imparted on you.

 

[maumau]

recession's hitting me now - etolls, petrol price, food prices, things I can't cut down on.

 

[Slootvreter]

If there was one, it's not over.

...and if there wasn't one, it's starting now.

(yeah I know I quoted my own post)

 

[Sonic2k]

The first recession wasn't felt much by me.
However, what the government is doing now, by making petrol unaffordable and by tolling the highways, that is hurting me.
I think we are having an internal recession thanks to these things.

 

[Purply]

The recession is only starting to affect us now, will become worse as the year goes on and will probably peak mid next year.

 

[cerebus]

recession's hitting me now - etolls, petrol price, food prices, things I can't cut down on.

That's not recession. That's inflation. If you're struggling to find work, or finding your salary to be diminishing, that can be attributed to a recession.

 

[Ninja'd]

I didn't even know there was a recession here. Life before, during and after the whatever time it took place is still the same for me.

 

[w1z4rd]

Still not impacted by the recession. Household income continues to climb.

 

[LCBXX]

If you look at what happened in Spain, Iceland and generally in the US then SA was not hit at all in comparison.

 

[creeper]

There is a name for what we are experiencing. It is called stagflation. The low GDP growth coupled with high inflation. The problem is that a component of the inflation is driven by implementing new taxes eg etolls and the instability in our workforce eg platinum strikes. The low growth also has many reasons. The question however is how to we get out of it?

What I've learned from the recession. We were protected a bit due to good timing of policies and a bit nog luck. SA didn't have a recession, but will have one soon.

It should also be noted that the US only moved out the credit headache with the quantitative easing. The world economy is still fragile.

 

[Purply]

There is a name for what we are experiencing. It is called stagflation. The low GDP growth coupled with high inflation. The problem is that a component of the inflation is driven by implementing new taxes eg etolls and the instability in our workforce eg platinum strikes. The low growth also has many reasons. The question however is how to we get out of it?

What I've learned from the recession. We were protected a bit due to good timing of policies and a bit nog luck. SA didn't have a recession, but will have one soon.

It should also be noted that the US only moved out the credit headache with the quantitative easing. The world economy is still fragile.

Agreed