• Written by:  jonathan
• Date Posted:  October 28th, 2008
• Category:  Politics
• Comments:  1 Comment »

The conversation has changed since I wrote about the two people on the train who were not even aware of the “credit crunch”. No longer are people unaware, they are asking each other “is your job safe”, and “what sort of mortgage have you got”.
Where we didn’t even understand why these things were happening, now we are asking why we can’t stop it. It would seem Godron Brown has come out of this smelling of roses; In that he has had the leadership skills to suggest and enact solutions. His rating and stature has risen as others look more like inexperienced losers.
I think most ordinary working people, in a job and paying the bills want to know what this means for them, and then many older people see it effecting them, but how.

For working people its wait until next year, as we don’t really know what happening; after Christmas we may have a clearer idea and hope that interest rates have been reduced to nearer 2% in the Uk, freeing up credit and lowering mortgages. For many about to retire it might mean putting this off as the value of their pension is drastically reduced. Also for many old people savings will be hit as interest rates fall and returns on deposits fall. Also any income based on shares is going to disappear for a couple of years at least.

Gordon Brown says he is going to spend on public services to help the UK and so he should because they will need heavier subsidising and new programmes for education, leisure and housing that hopefully will stimulate the economy. People will look again to the public sector as the private sector costs itself out of the market. Personal private healthcare, private schooling, private leisure clubs will all take a hit.

Is your job safe, what sector do you work in?

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