[Finance] BOE: The UK is like a coiled spring.

[Deleted member 2719]

I not saying it anyone's fault but i think we will hit several mini 'boom & bust ' periods before the economy flatlines and a semblance of normality returns.

We always have done though mate.

Rough with the smooth, and we all like a bit of rough at times.

 

[Herr Tubthumper]

Yes, but can’t just have an economy based on cafes, bars, restaurants and music venues. You need people with jobs and incomes to patronise these places, unless they all just go to each other’s cafes on their days off?

True. I understand this. My knowledge, experience and interest is mainly from the hospitality and music sectors hence I mentioned these.

That said, I do see a lot of people from the hospitality scene patronizing other places.

 

[beorhthelm]

In my industry there is more work than ever. Financially this has been the best year of my life, while at the same time it has probably been the worst year of my life in every other way.

Saved so much money on things I usually enjoy, but for me this is not a good thing. Earned more money than I have ever done, but also worked more than I have ever done. Feel a bit like a robot - minor distractions like football keep me going at the moment.

Goes to show, money does not equate to happiness.

its good if you've saved, you can spend more when things reopen. i've saved and invested loads and looking forward to helping many publicans, restaurants and other businesses when they return.

 

[Herr Tubthumper]

In my industry there is more work than ever. Financially this has been the best year of my life, while at the same time it has probably been the worst year of my life in every other way.

Saved so much money on things I usually enjoy, but for me this is not a good thing. Earned more money than I have ever done, but also worked more than I have ever done. Feel a bit like a robot - minor distractions like football keep me going at the moment.

Goes to show, money does not equate to happiness.

Which industry are you in? Undertaking?

 

[Deleted member 2719]

its good if you've saved, you can spend more when things reopen. i've saved and invested loads and looking forward to helping many publicans, restaurants and other businesses when they return.

Fingers crossed, pubs and restaurants with gardens, in particular, should be gearing up shortly they may be able to have the odd band, or DJ spinning up some 80's tracks!

Maybe tomorrow.

https://youtu.be/2q9_ZEtuTR8?t=58

 

[Knocky's Nose]

Business has been boosted immeasurably by the pandemic, I had a very lucky break, I've had no holidays, I've not been out really, and I've reduced my overheads by moving to a much cheaper house.

I'm sure it'll change, as it always does in life - but I'm far better off than I was 2 years ago. Just paid a £45,000 VAT bill for the quarter, which hurt - but it feels like I've done my bit. I can't actually knock this government when it comes to helping businesses which are stuffed by COVID, although there will always be those who slip through the net of course.

 

[Herr Tubthumper]

Business has been boosted immeasurably by the pandemic, I had a very lucky break, I've had no holidays, I've not been out really, and I've reduced my overheads by moving to a much cheaper house.

I'm sure it'll change, as it always does in life - but I'm far better off than I was 2 years ago. Just paid a £45,000 VAT bill for the quarter, which hurt - but it feels like I've done my bit. I can't actually knock this government when it comes to helping businesses which are stuffed by COVID, although there will always be those who slip through the net of course.

I remember you were asking about franchises a few years ago.....is this the franchise which has worked out?

 

[Knocky's Nose]

I remember you were asking about franchises a few years ago.....is this the franchise which has worked out?

​

Well remembered - but no! It's the exact same line of work I was in before, and an old contact popped up with the deal of the decade - which I took. It'll see me to the end of this year, then I'm back to looking for my next move, albeit with a lot more capital to throw at it and less reliance on the banks to fund it.

I actually got within a sniff of two franchises, one where I even met 'Sir Stelios' in person (nice bloke) - but I just didn't believe the people I would be literally paying to oversee my business could do it as well as me, so I walked away.

Funny how life pans out. I was at my lowest low 3 years ago, now I'm equal to my highest high.

You never know what's round the corner, they say (unless you live in a Martello Tower...)

 

[Herr Tubthumper]

​

Well remembered - but no! It's the exact same line of work I was in before, and an old contact popped up with the deal of the decade - which I took. It'll see me to the end of this year, then I'm back to looking for my next move, albeit with a lot more capital to throw at it and less reliance on the banks to fund it.

I actually got within a sniff of two franchises, one where I even met 'Sir Stelios' in person (nice bloke) - but I just didn't believe the people I would be literally paying to oversee my business could do it as well as me, so I walked away.

Funny how life pans out. I was at my lowest low 3 years ago, now I'm equal to my highest high.

You never know what's round the corner, they say (unless you live in a Martello Tower...)

I see, I’m not sure you’d look good in orange anyway!

Good luck with your next move.

 

[Thunder Bolt]

I don’t know where they get their figures from, but the Construction, Architecture and Design salaries, in many cases are 100% out. As a Quantity Surveyor, I was earning the salary listed 23 years ago.

The engineering wages are too high as well.

 

[DavidinSouthampton]

So who to believe the BOE or a newspaper?

It is an economist from the Bank of England - Not the Bank of England itself - being quoted in the Daily Mail,

Or it is an official report, by the look of it, from the FCA (Financial Conduct Authority) being quoted in the Guardian.

Leaving the Newspapers aside, it is an official report as opposed to the optimistic(?) views of an individual economist who happens to work for the Bank of England.

Obviously there will be a bounce when restrictions are eased, but I think he is overestimating it.

 

[Harry Wilson's tackle]

Nope, but another essential one.

I guess over the last year essential industries are doing well, whereas non-essential really aren't.

I hadn't realised being a pollster was an essential business. Every day is a school day on NSC

 

[Bry Nylon]

I guess over the last year essential industries are doing well, whereas non-essential really aren't.

Blimey.

Let us know when you’re next on NewsNight

 

[DavidinSouthampton]

There is, which is why I wondered at the motive of the OP wanting to post a poll, and eliminating anonymity.
It has sod all to do with anyone else as to whether I am better off or worse off.

Wondering about the motives of the OP? A fanatical Boris supporting Brexiteer trying to sell the idea that we are all going to be as happy as pigs in sh1t in a couple of months time?

Must try harder!

 

[Deleted member 2719]

Obviously there will be a bounce when restrictions are eased, but I think he is overestimating it.

Come on Dave, you will be down the local saying, 'line them up John', perhaps you could go large on the cheese and onion crisp and buy a bag for the lab also, sitting by your feet.

This will be on repeat 7 nights a week until the lab says 'dave I'm sick of cheese and onion, can I have pickled onion monster munch next round'.

Good times!




'.

 

[Harry Wilson's tackle]

Wondering about the motives of the OP? A fanatical Boris supporting Brexiteer trying to sell the idea that we are all going to be as happy as pigs in sh1t in a couple of months time?

Must try harder!

To be fair to the OP, I doubt that his motives were crafty and sinister. He's far too stupid for that

 

[Herr Tubthumper]

Come on Dave, you will be down the local saying, 'line them up John', perhaps you could go large on the cheese and onion crisp and buy a bag for the lab also, sitting by your feet.

This will be on repeat 7 nights a week until the lab says 'dave I'm sick of cheese and onion, can I have pickled onion monster munch next round'.

Good times!




'.

Good times.....until the 3 or 4 trillion has to be paid back. It’s easy to have a good time on a credit card.

 

[Bry Nylon]

Good times.....until the 3 or 4 trillion has to be paid back. It’s easy to have a good time on a credit card.

It’s ok. It’s my kids’ credit card. They just don’t know that yet.

One for the road?

 

[Deleted member 2719]

Good times.....until the 3 or 4 trillion has to be paid back. It’s easy to have a good time on a credit card.

No need to worry about that HT, it's not going to be paid of for decades.

The business model has to be adapted as it does after a war.

I am very anti debt, but this has been unavoidable and we will adapt and grow. The key is sticking together.

 

[Herr Tubthumper]

It’s ok. It’s my kids’ credit card. They just don’t know that yet.

One for the road?

In that case, yes. I’ll have one of those tiresomely named pretentious and expensive craft beers I drink. Cheers Nylon Jnr!