Recession for "other people"

[Disillusioned democrat]

There was an interesting stat in RTE 9pm News last night. The top selling car this year so far was the BMW 5 series - the de facto standard for senior management in banks, audit and law firms and senior civil servants.

My big regret in 2008 was buying a new car which now seems like a ridiculous luxury and a possible millstone if I was to lose my job. It seems to me that there is still great confidence among certain groups that this recession is for "other people" and that they will be largely uneffected.

[adrem]

And yet the unemployment numbers yesterday showed a big spike in job losses in the professions? Are they slowly finding out that this recession is hitting everyone

[Paddythai]

I often wonder about this situation where some people seem to be completely immune to the current recession while others are on the verge of collapse. I'm thinking of the people I know, some of whom I met yestyerday, and they were chatting about their long summer in the west of Ireland while I had no idea of taking time off. These people are teachers, prison officers, criminal solicitors, HSE upper mgt., nurses etc.
As a self employed person constantly juggling bills and trying to get paid I seem to live in a completely different world.
There are times when my wife and I despair at the apparent injustice of it all. We work long hours, take risks, only get paid if we provided a good service. Get no sick leave, no handouts if business goes belly up and cannot go home at 5 on a friday to a worry free w/end on the patio.

To get back to your question, I can't see how some will be immune to the recession as the pool of fools (sorry tax payers) is dwindling by the day. The number claiming welfare is increasing. There must come a point, soon it seems, where the whole system collapses. If this happens suddenly these people are in trouble. If it happens slowly, with one minor crisis per day then they may have to endure the anger of the people.

[Harmonica]

So people are not allowed to buy cars now? Cars are probably the most highly taxed item in this country. Also RTE or your facts or totally incorrect.

The top selling cars this year have been:

1 FORD FOCUS
2 VOLKSWAGEN GOLF
3 FORD FIESTA
4 NISSAN QASHQAI
5 TOYOTA AVENSIS
6 RENAULT MEGANE
7 RENAULT CLIO
8 SKODA OCTAVIA
9 VOLKSWAGEN POLO
10 TOYOTA YARIS

[farnaby]

Interesting related blog on the Cedar Lounge - the blogger chats with a businessman who bewails the collapse of the economy and the absence of demand and credit availability, yet later...

Later when he was leaving I wished him good luck with his own business given the situation. He looked a bit surprised for a second, then said, ‘Me? No, my business is grand. Doing fine.’

Careful with that ‘austerity’ narrative Brian(s)… The Cedar Lounge Revolution


Those who own or run businesses or practices will have the clearest idea if they will survive and so will continue to buy things they want. And that will include some who have been able to remain profitable by shedding staff. It is middle management and workers who live in constant fear even if business volumes are stable.

[Sync]

Really, the first thing people should do when struggling is to start resenting those that have done well in life and managed to save enough, or perform well enough in their jobs to be able to afford a decent car. None of that "Introspection" or "Self-help" crap. Drag everyone into the gutter, that's the way ahead.

[nonpolitic]

To a certain degree, I think most people can stay recession proof, but omly for a short while. I know in the early days of the recession, the only thing my partner and I noticed falling was our mortgage repayments due to the ecb cutting rates.

However, that is no longer the case as paycuts have since out stripped any benefit the interest cuts brought us. Most people/sectors have a tipping point and the govt must realise that the camel's back is nearly full of straw.

[Twin Towers]

Those with money are now savouring their advantageous circumstances to buy up for a song the assets of those without money. The rich get richer.

Thank you Fianna Fail, thank you Euro.

[Disillusioned democrat]

Really, the first thing people should do when struggling is to start resenting those that have done well in life and managed to save enough, or perform well enough in their jobs to be able to afford a decent car. None of that "Introspection" or "Self-help" crap. Drag everyone into the gutter, that's the way ahead.

No - don't resent anyone - just interested because the 520i was the stereo-typical non-exec director/senior CS car since it was launched, and I found it interesting that RTE mentioned this as a sign that "we've turned a corner" as part of a piece on the negative indicators released last year.

Typically self-employed people don't go for BMW 5 series.

I have every respect and admiration for those of us who work hard, create value and buy whatever they want to drive, particularly the self-employed in today's environment.

[Sync]

It's not though. It may be the most popular new BMW sold (although even then I'd have thought the 3 series would be well ahead), but it's not the most popular new car in Ireland.

In general your point is solid, BMW and Audi have both been doing great business in Ireland and the UK this year,