Lessons you learned from the recession?

Pho3nix

Pho3nix

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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 :o
So basically my question is how hard did the recession hit you and what did you learn from that experience?

Dankie :)
 
Is/Was there a queue at Woolies since 2008? Yes? No recession then.
 
Is this the question your teacher gave you for your holiday assignment?
 
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.
 
Well the recession hardly touched us compared to the US and Europe.
 
Pho3nix said:
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 :o
So basically my question is how hard did the recession hit you and what did you learn from that experience?

Dankie :)
Click to expand...
Why don't you share some of the wisdom your parents imparted on you.
 
recession's hitting me now - etolls, petrol price, food prices, things I can't cut down on.
 
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.
 
The recession is only starting to affect us now, will become worse as the year goes on and will probably peak mid next year.
 
maumau said:
recession's hitting me now - etolls, petrol price, food prices, things I can't cut down on.
Click to expand...

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.
 
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.
 
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Still not impacted by the recession. Household income continues to climb.
 
If you look at what happened in Spain, Iceland and generally in the US then SA was not hit at all in comparison.
 
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.
 
creeper said:
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.
Click to expand...

Agreed
 
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