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Economic highway of disaster for the UK?

by Matthew Field

Economic highway of disaster for the UK?

Yes, you heard right, we are about the enter the third chapter of this crippling financial position. Not only are people with mortgages going to feel the pinch but they could also be facing a strong likely-hood of loosing their house/flat....

It saddens me to the core to know we as UK citizens have to go through this boom and bust cycle every 10 years or so. If it's not us it's out kids, if it's not them it's their kids! Why can't these MP's just tell us the truth and set the record straight, or are they doing this on purpose? You tell me..

I strongly believe, we're all heading down a very dark and gloomy road without any street lights. I hate the false hype media give this topic, especially when they try to brush things off by saying "we're coming out of recession" or "we have to do short term cut back's for longer term benefits" The truth is, If we have a contraction in the next quarter we are officially back in recession for the third time (a triple dip recession). 1 in 5 people are unemployed in London! The UK is looking like it will be facing much worse times than the late 1920's. Now that's frightening!

One thing you may or may not know is that this financial position is not only a UK problem but a European problem too. The financial situation abroad is in shambles. Our Chancellor has made mistakes Spain & Greece have defaulted severely causing repercussions this side of the world. Everyone is too busy blaming the banks and the bankers, but they are only part of the problem (maybe a big part though). This article can in no way explain in full detail the full reasons for this financial problem. Our Triple A credit rating is facing a downgrade and that would mean we are in more serious trouble. My take is that this is going to happen, it's just a matter of time.

Now for the car industry.  I hear you say "About time too!"  :-)

Given all that's "really" going on, is buying or selling a car your priority? Whichever end of the car market you're in be warned it's all going to slow down very very quick. If you already have one, look after your car, service it regularly , treat it like you would like to be treated when you're an OAP, with TLC of course. If you're thinking of buying make sure it's been looked after, with documented service history (preferably dealer history), from a reputable seller, HPI clear, good interior & exterior, with all the bell's and whistles and never make the mistake of thinking you know what you're buying, just take someone with you. Afterall, 2 minds are better than one.....well in most cases ha ha.

If you're selling make sure to check used car prices and be honest with yourself, how much is it worth?, too high a price will mean no-one's going to pick up the phone and call you, to low a price then you're going to be out of pocket in a big way. Do some research! Apart from this make sure it's clean, polished, hoovered, smelling fresh and that you have all the docs with you. Always  complete the log book with the buyers full details and make a separate receipt too.

In summary, the UK is facing a triple dip recession and the car indusry, in my opinion, is going to be hit very hard!

What do you think and why? 

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