Glad to see you bed Americans are not affected

It is no "media hype".  I would hate to tell that to all the people who are now unemployed. The only reason it has not affected us as bad as in the 1920s is because our governments have bailed out the banks, but this can´t continue. 

However, the media DO affect the situation dramatically.  They create fear, which exacerbates the situation.  A good example was when the Irish banks guaranteed savings.... all the money from UK banks suddenly disappeared and was transferred to Irish banks which simply made the situation worse.

Personally, most of us are still unaffected.  My mortgage went up slightly last month, but I changed it to a tracker one and it decreased again this month.  We see oil prices coming down again and petrol is getting cheaper.  However, if you have a small business or are trying to purchase your first house, things will be very hard indeed.

The effects on the rest of us will be more long term - retirement pensions, savings etc.  Salary increases will be less than inflation.  Public spending will be at a minimum because local authorities invested our money unwisely, so this will affect public services, roads, amenities, schools (and in the UK´s case, hospitals). People are spending less, so retail and leisure industries will start to suffer and many will close. Banks will never again operate in the same way as before (which is probably a good thing!!!).  There will be a dripping tap decline...... and Yilgun you are wrong, it will get worse before it get´s better

My bank has a BRILLIANT way to help you save money in this "credit crunch"!!  Every time I use my bank card to buy things, it takes the amount up to the next pound and puts the balance in my savings account!  For example, if I spend £1.20, it takes £2.00 and puts 80p in my savings

I love this kind of simple idea.  I am saving up mine to buy Temora a one-way flight to Siberia

each economic crisis showing us ugly face of wild capitalism´s ugly face one time more,and each crisis creating  a big morale depressin on the wide part of people  (except who feeding more about this crises).So we have to take enough leson on each crises,especially glutttonous riches who prefer to save instead of sharing.Ý think we all can survive our lifes with the less luxary,but we all need to trust our tomorrows.....So i believe we can´t think an economical system by sperating moral values.economy and moral rules goes together and haven´t to be no more  no less...

 This is a nice sentiment which we would all love to practice, but in reality?

Questions:-

(1) What is your job? (I am sure it depends on capitalism)

(2) Do you give your extra money away, MrX67, or do you like to save some money to help your family when they need it?

what is your suggestion aenigma? are you saying we have to stay loyal to capitalism and make no alternative system?

 No, but i am saying that Turks do tend to preach to us about capitalism and yet they have embraced it in the same way.

You like to be eastern, but you have embraced the evil capitalist system yourselves

To Ciko and MrX67:-

How much money do you give to charity each month?

we just have to embrace the system what big governments make. this has been the same for 200 years ( since industry revolution ) "The west Rule, we obey."... it wont change as long as west have financial, industrial and cultural power.

 I feel so powerful today, tesekkur ederim

 i never deny anything if its about common happiness instead of happiness of a small group,just i want to say wild capitalism creating big differences on the society and after a period economic crises coming itself and sure we all deserve more comfortable lifes,but never as selfish and by never forget moral values while saving moneys.And i´m afraid to be mercifull contrary of wild capitalism´s soul or self...

Sorry MrX67, but I am not keen on being called rich gluttonous westener, and merely asked what you do with YOUR savings.

I see big big talk at Bayram about you giving money to the poor....ONCE a year.  How often do you help the poor except that time.  You save your money too, for your family.  You are no different.

We pay very very high taxes in our guttonous country to ensure there are never any poor people.  People without work can have a similar lifestyle to people who work, nice homes, food and excellent hospital care.  There is no real poverty.  The people in our country who call themselves poor are the ones who would like a nicer car than their neighbours and can´t afford it. That is why our system is so abused by people who criticise it....they move to our gluttonous country and take money for doing nothing.