What's going to happen to us all?

Question

With petrol prices soaring and talk of a recession, what will happen do you think?

Answer 1

Nothing. Like idiots we will pay the ridiculously high prices they charge for petrol.

Answer 2

who cares? there are way too many cars on the road any way. its about time people started to walk a bit more, it won't hurt them

Answer 3

Thank God for Mr King - I think he is tackling this very professionally - we'll pull through !

We'll be better basing the economy on business and not on house price growth.

Answer 4

we will become very poor,to poor to drink, smoke ,,take drugs,eat junk food,take public transport,buy magazines that make us buy shoes we are never going to wear,take holidays we paid for with next months wages. f**k what are we going to do

Answer 5

The dollar will continue to free fall.  House prices will continue to decrease, job loss wil continue.  Overall we will see inflation.  More banks will fail and we will see more government bailouts.  Food will increase due to the worldwide food shortages, ethanol production and due to the price of oil.

The banking sector will continue to post major losses.  The deravitive bubble has yet to burst, which is estimated at 512$ trillion.  This will be much worse than the housing bubble, which is estimated at 8$ trillion dollar bust.  In addition, we have a major credit crunch happening.

The not too far distant furture does not look too well at the moment.  We will see and feel how this all plays out!

Answer 6

Sorry to be the bringer of bad tidings Rocki, but We're All Gonna Die.... well eventually. Part of life's great tapestry ain't it.

I'm still waiting to go clubbing with you before it all ends, lol.

Answer 7

not a lot

Answer 8

I'm alright Jack. :)

Answer 9

we will cope

worse things have happened and we have managed

it will get better again

edit

gus - i was in the US a couple of weeks ago and peteol was around $3 a gllon it is more like $10 a gallon in the UK

Answer 10

we will become a third world country and everyone will move to China to get jobs!

Answer 11

we will all use bicycles

Answer 12

I think this trend will go on until there is no more petrol on the world. Shortly before this point i think the market will be change to cheaper non-petrol or patrol-like products.

And it will start again.

Answer 13

People will spend less on non-essential goods and services. As a result businesses will suffer and start laying off people. As more people stop working, these businesses will have even fewer customers and will either have to cut their prices (eg importing), cut their quality, or further reduce costs. It's a chain reaction. Economy will get further into a recession.

Note: Only millionaire talk show hosts refuse to believe that there is a recession. These AM-radio talk show hosts claim that the economy is booming.

Answer 14

I have to use my car for working; I know that I am paid a mileage allowance.

However, with all of the motor costings I am now funding my job.

Very soon it will be cheaper for me to sign on the Dole.

It might be a good idea if Government considered refunding some of the gigantic amount of Tax extracted from fuel.

Answer 15

Oil prices have not gone up as much in England since petroleum prices are in dollars(USA). But they will hurt the economy of all importing of oil nations. Each nation must develop its own home grown source of energy, so that money spent on energy will stay in that nation and create new jobs. In the short run high oil prices means more people will lose their jobs.

Answer 16

we will all be using real horse power,giddy up.peace.

Answer 17

Well I'm emigratting now that I've retired, mind you the Artic's not looking that inviting at the moment.

Seriously though its all about debt, people have over extended themselves, spending more than they can afford, which in turn creates a false economy. Well for starters, less people will be able to afford things, rationing themselves, reducing spending, which effects the supply and demand tables, which means if we aint buying and there's a surplus f stuff then that price drops, drops too far and companies don't make profits, if this falls jobs end up going. BANG. Unemployement figures will rise, repossesion will go up, and inflation will rear its ugly head. of course the good news is that we're not in a recession just yet, unlike the boom and bust years.