Whats all the fuss about this credit crunch?

Question

Its not affecting me at all.

Answer 1

I am poor anyway and a pensioner so i will have to put up with it

Answer 2

well you clearly earn good money.

And frankly this arrogance considering people houses have been repossessed and food shopping price is going crazy, is rather unwelcome.

Why people like you aren't tax accordingly to your wealth since you don't feel the pinch?

Answer 3

Nor me, I'm looking forward to house prices really crashing so I can buy some more!!!

Answer 4

It's affecting a lot of people, but not everybody. Also, it hasn't really kicked in yet.

Depending on who you are and where you live, it might start affecting you when prices start going up and jobs get harder to come by.

Answer 5

The credit crunch is having a major negative impact on the majority of the US population.

"As the struggling dollar, the War in Iraq, the sub-prime crunch, and prices at the pump dominate our airwaves, many Americans tend to forget about the end result of it all. Life is becoming impossible for the average American. Or what I chose to refer to as the fuel of the public enterprise. It has never been so expensive for him to simply maintain a healthy lifestyle and ensure the same for his family.

Costs associated with doing so are growing consistently by almost every conceivable metric. Pick one: airfare, apparel, childcare, college tuition, food, health care, and medication. All are steadily increasing in price and contributing to a rapidly rising cost of living while federal data reveals that income inequality is possibly higher now stateside than it was just before the stock market crash and Great Depression of 1929.

Overall cost of living in the US is reaching paramount heights. This is in turn spreading the paychecks of American consumer thinner than ever before and facilitating an increased reliance on credit to maintain their current lifestyles.

Supporting this statement The U.S Department of Commerce, Bureau of Economic Analysis (BEA) announced this year that Americans on average had a negative savings rate for 2006.

Simply put, the American consumer with less dough in his pocket puts a massive strain on every facet of the economy. This obviously includes the stock market. Lack of disposable income and growing consumer debt put negative pressure on virtually every aspect of the public enterprise."

http://www.microstockprofit.com/Blog/200...

Answer 6

well as long as you are ok , that's alright then

Answer 7

Well we don't borrow money (ever, we save up or buy second hand or go without!) or take holidays (can't afford) and we have already bought our house and are not looking to sell at the moment.  So its not affecting me at all.

Petrol is about the only thing thats affecting us, its getting more expensive to travel to work these days.

Answer 8

100% mortgages are gone so if you want to buy a house for say £100,000 you need a deposit of £15,000. Because most people cannot afford this houses arent selling well. Lending money is becoming harder because they banks havent got as much money to lend anymore. Because oil prices are going up this will effect things like petrol and even food and gas bill, even the price of your holiday. So one way or another it will effect you somehow

Answer 9

You must live with your parents

Answer 10

At the moment it hasn't affected me and my husband and we have just bought a house. We are very careful with our money though and very rarely use credit so we don't have many debts. We believe if you don't have the money then you go without and it works for us. Next year may be a problem if the car tax goes up any more as it already costs us £210 per year.

I do know of people who are really struggling to pay everything each month, so really it does depend on circumstances.