Mercedes dealership files for bankruptcy?

Mudster

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I don't mean the house price bubble in 1988, I mean the deep recession from 1980 to 1986. It was bad, people really were living in Cardboard City.
Nope, not old enough for that....the country managed to inflate it's way out of that one though...the same trick won't work this time.

I'm not wholly sure what's going to happen this time around, the banks have made an unprecedented mess of themselves...that's a bit of an oddity and is effecting ever single walk of life, not just manufacturing.

That's why I'm so pessimistic, the fundamental basis of capitalism is banking, and they are still in a an unholy mess, until that is shaken down then nothing much is going to get better.

Great Britain PLC operated on borrowed money, secured and unsecured. With no lending there's no spending....it's a chicken and egg situation which is now completely based on sentiment.....

We will simply have to wait until people and banks "Feel" better about the economy...on average this means we wait for the next generation of kids to grow into 20 somethings who all have no comprehension of what happened this time around as "It's different now"......add to that the number of people that have short memories and we ride the wave of bubble economy again.

We've got a year or two of hurt minimum...8-10 years of flat growth or stagnation, then off we go again.....
 

maddog

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We've got a year or two of hurt minimum...8-10 years of flat growth or stagnation, then off we go again.....
We have decades of hurt , taxes will rise to unprecedented levels thanks to the government borrowing.

The next generation will still be paying for this !!
 

Vlad

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Having been through the last two recessions, this does have all the makings of a big one...at least in the last recession the banks continued to lend.

The worst of this has at least 18-24 months left to run and I agree with Mudster that we are only just going into it.....there will then still be a lot of pain for many years after that with rising taxes, blah blah blah.

I wonder how long it will be before they start showing a map of the UK on the News showing how many jobs have been lost on a weekly basis, as they did back in the early 90's.

Batten down the hatches there's a S**t storm of mega proportions on its way

+ How long before there is mention of us joining the Euro?....with our national debt and falling output it does make Sterling look vulnerable and we may have to seek security within the Euro.

Good old labour...Boom to bust as per every other labour government and they can't keep laying the problems on the US....a lot of this is down to our own lax fiscal controls in this country.
 

jeremytaylor

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+ How long before there is mention of us joining the Euro?....with our national debt and falling output it does make Sterling look vulnerable and we may have to seek security within the Euro.
You obvioulsy haven't seen today's papers!

I take a contrary view on the outlook. Fundamentally there is demand in this country for land and everything built on it (simple supply and demand factors). If the banks could just lend more I think things would soon recover - quicker than many are predicting. Low interest rates make mortgages affordable (unlike the last recession) which I worked through.

But what do I know :eek:
 

kth286

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I take a contrary view on the outlook. Fundamentally there is demand in this country for land and everything built on it (simple supply and demand factors).

That is stating the bl**ding obvious - of course eveyone wants a 4 bed 2 garage house.


If the banks could just lend more I think things would soon recover - quicker than many are predicting. Low interest rates make mortgages affordable (unlike the last recession) which I worked through.

They will never lend at the levels they did previously because a great number of people will never qualify for those sized loans ever again - that is what this is all about - giving too much money (which drove up house prices) to people that were living in cloud cookoo land and really had no chance of ever repaying it back.

Also the banks and FSA know that low interst rates WILL be increased again and to prevent "mortgage payment shock" the rules will ensure that no one gets more than they can "prove" they can afford" - none of this self cert nonsense.

:eek:
??
 

st13phil

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Nope, not old enough for that....the country managed to inflate it's way out of that one though
I'm old enough to remember it, and the bit of a dust-up that happened in the South Atlantic to distract everyone ;)
Mudster said:
I'm not wholly sure what's going to happen this time around, the banks have made an unprecedented mess of themselves...that's a bit of an oddity and is effecting ever single walk of life, not just manufacturing.
We have a fraction of the manufacturing economy that we had even in the early 1980's and much of that is now "international" in flavour, with relatively little value adding going on in the UK. Much of UK manufacturing was suffering heavily right from the start of this year as the cost of goods imported from previously low-wage economies in eastern Europe (where they had migrated much of their manufacturing activities to in the previous 10 years) spiralled upwards as the pound dropped against those currencies. Unusually large and rapid currency movements coupled with a tightening of credit worldwide is playing havoc with export markets. UK manufacturing (what there is of it) is not in good shape.

Add in the fact that our economy is very heavily retail / service-sector biased now - which is the bit that's heading fastest down the toilet - and I fancy that the next few years are going to be very unpleasant for the UK.
 

Dieselman

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I'm old enough to remember it, and the bit of a dust-up that happened in the South Atlantic to distract everyone ;)
Isn't that every ailing PM's Joker...a nice little war/invasion/crisis...

Maggie didn't leave the Falklands abandoned for no reason..;)
 

Dryce

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Isn't that every ailing PM's Joker...a nice little war/invasion/crisis...

Maggie didn't leave the Falklands abandoned for no reason..;)
LOL

And she brilliantly engineered Galtieri coming to power too.;)

I think she got really lucky with that one. A year later and I suspect that she'd have been left with no conventional means of dealing with the problem apart from a submarine blockade of Argentina - and the fallout from actually enforcing that would have probably been unpalatable both at home and internationally.
 

Wish

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Maybe someone needs to point Greenoaks Mercedes to this topic.
Very poor show that its still up, considering the title is so misleading and has been allowed to continue by the admin of this site .....
 

jaymanek

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the topic has a question mark at the end.. its a question not a statement.
 

Alfie

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Maybe someone needs to point Greenoaks Mercedes to this topic.
Very poor show that its still up, considering the title is so misleading and has been allowed to continue by the admin of this site .....
I believe they are already aware of it.

Given the economic climate and the possible damage that even a whiff of something like this can do, if I were Greenoaks i'd be requesting formally it was removed.
 
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OP
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Robbo

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Maybe someone needs to point Greenoaks Mercedes to this topic.
Very poor show that its still up, considering the title is so misleading and has been allowed to continue by the admin of this site .....
Hey,

I saw this subject discussed on another forum and I wanted to know whether they could be in trouble as they are my local dealer and I am planning to spend money with them possibly buying a car. I don't want to be left high and dry.

It was a question to the MB community on this forum not a statement.

As it happens, the rumour was false, but a very interesting general discussion about the recession has developed as a result of the question.

Chill out.
 

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