The Worst of Times

A while ago I recall blogging about the fact that there is a recession in Jersey. Obviously, now, this has hit home very personally.

But of course, there are others. What you do know is that in every little way, your family rally round, no matter that you may not have heard from them for ages, in every way they can. They are always there so that is a help.

What you also note is that some people seem to distance themselves. As if you have done something wrong, people you might expect to give you a call, whom you know are aware of your new circumstances. So in a way that is a bit of a surprise.

The question really is - what to do next for the best - your whole life - the past 30 or so years - have been turned upside down, you are still in the middle of your life - but all your plans have been blown right out of the water in one fell swoop. So in these worst of times - the big question is what next?

Not Brilliant

Just a very brief post to say that things aren't brilliant at the moment and feelings are very down. There are no jobs out there.

It is very difficult to see through the fog and the whole stream of varying emotions that goes with things inducing panics and sickness. Once the thoughts get going it just tends to get worse and one thing feeds off another. It's like a spiral. But I have to keep my spirits up and knock those thoughts on the head.

It's what to do next that is the vexing question, i.e. how to see if there any other avenues in my line of work.

Comments - A Reconsideration

I was surprised at the comments I have received from the comments to the prospective closure.

So I will reconsider things and return - in a short while.

Closure

This blog is to close today.

Jersey House Prices & Jersey Home Loans - 2009

So the Jersey Evening Post splashes out this evening that there has been a reduction in prices and transactional levels have crashed.

All this happened in the last quarter. They are very behind the times with their news although I do them a slight disservice in that they published an article in November. This blog has referred the dire state of the local market since the 24th July 2008 here.

Strangely enough the market is showing signs of action, not from the first time buyer, but more from those who are looking to invest funds in rentals because of the paucity of the return on money in the Bank.

There is of course a different mindset from the Banks but it is no different from 15 years ago when most purchasers had to have a deposit and an 85% to 90% mortgage was the norm - with 3.5 times salary being the max sometimes stretched to 5 times.

Yes, some house prices will still have to come down, there has to be value for money to create a market, and maybe there will be some fallout from those who had 100% mortgages with lower prices.

I wonder whether the downturn will be as bad as predicted given that the press and statistics are always about six months behind events at the coalface - today's redundancies are a result of a lack of activity a year to six months ago.

Also in the JEP tonight was talk of an action group in respect of Jersey Home Loans. Perhaps the borrowers should look to refinance elsewhere rather than pay JHL's rates. Of course, if JHL do re-enter the Jersey market, the Jersey customer now knows how they are treated when the chips are down, so, in time honoured fashion there will be no need to use JHL because whether they offer the best rates in the future it is probably better to pay a little more rather than being screwed by JHL when the chips are down. Of course if they are allowed to take deposits, who on earth would bank with them if they can't be trusted with their mortgage rates.

Car Parks - No Place for Skateboarding

Recently there was a letter in the JEP concerning the skateboarding in Patriotic Place car park. One can see why it causes annoyance to residents of Century Buildings. But that is not the only car park where skateboarding occurs. On Sunday there they were at Sand Street. And this evening at 5.30.

Not a policeman or honorary policeman in sight. Car parks are car parks and no place for skateboarding notwithstanding their ramps. A skatepark has been built and should be used as such. Skateboarding should be banned from public streets and the car parks and the police should police it. It must be very tiresome for residents and as they are using the exit ramp at Sand Street it must be equally tiresome for motorists.

Perhaps the new Home Affairs minister, Senator Le Marquand, would be doing some good if he managed to get some police out from behind desks and onto the street.

Our Filthy Streets

Just walking home through St. Helier and walking in to work if you take a look down you can see how filthy and disgusting the streets are.

Now of course we don't know who is responsible for cleaning each street - is it the Parish of St. Helier - the Waterfront Enterprise Board - or the Transport and Technical Services. You can be sure no one will take the blame.

Outside the Fitness First Chicago rock the pavements are littered with chewing gum. Through town is the same. Then there is the giant ashtray outside the Blue Note Bar.

Town in that state is disgusting and someone needs to get to grips with it. I am sure it never used to be quite as bad.

It displays an attitude that no one cares for St Helier or its residents.

Recession, Depression & Boom

Whilst there are banks collapsing, businesses collapsing, high streets emptying, particularly in Jersey as anywhere, and people tightening their belts business does go on.

Since September the speed of the collapse in economic confidence has been furious. And it is speed that is the essence. In the boom times speed was also of the essence because of the speed of communications. mobile phones, the internet, bulletin boards etc, everything had to happen immediately.

Now people are harking back to the thirties, seventies and early nineties. At all of these times things weren't as fast as they do today. So what is to say, and why isn't it said by the media, that the worst of everything hasn't already happened in the past 6 months since August. In the scale of communications of old all that has happened over the past six months would have taken anything up to four years. Of course there will be fingers burnt and spending habits will change.

But perhaps when the turn comes it will be all the more quicker and sooner than people think because of the speed of modern communication.

Obviously I don't know but it seems a logical thought and with interest rates low a moderate return to activity could be in the air in spring. Of course statistics and the media are always at least two quarters behind the event so reporting of it will not happen until the autumn or Christmas time.

Voiceforjersey and VoiceforChildren

One site, or should I say two, have caught my attention because of a substantial change of direction. VFJ and VFC has been producing online videos which give a far more intriguing and interesting insight into both the individual interviewee and to the story than the BBC, JEP or Channelonline.

At the moment none of the main stream media provide any in depth coverage of issues or devote such time to the interviewee except perhaps on the obscure business section on Channelonline.

The most interesting part of these interviews is that rather than brief soundbites, you get the views of the individual which, as in the interview with Senator Cohen, allows you, the viewer to have a more reasoned perspective and insight of the individual, and to make a better more understanding judgement. This has proved an enhancement and endorsement for local blogging.

Take a look. Links here are Voiceforjersey and Voiceforchildren.
Keep up the good work.

Surely A Resignation Matter for Deputies Southern & Pitman

Just because we don't like taxes or we don't like the speed limit or we don't like paying social security doesn't mean that we, the general public, can adapt the law to our means and not comply.

If Deputies Southern and Pitman are charged under the law and found guilty then he should resign and fight the election again in St. Helier No 2 district. Whether this calls into question the validity of the whole election for the St. Helier No 2. Clearly now two politicians have been charged they should not take their seats in the house anymore.

It doesn't matter that the law did not provide any help to the postal voters. The fact is that the law is as it is and if both Deputies Southern and Pitman did not like it they should have sought to get the law amended if they were re-elected or indeed should have sought to amend it prior to the election.

Questions that should be asked of the Deputies by both Channel TV and BBC are surely - "will you resign?" and "if not, why not?"

They should both do the honourable thing because if they stay they possibly damage local politics by snubbing the law. They could both stand in the ensuing by-election.

Tax Havens or Not

Guernsey's Chief Minister and the Head of GFSC have been before the commons select committee in respect of what caused the Banking Crisis. Jersey has defended its tax haven status in respect of the recent Panorama television programme.

Now whether or not the politicians of our tiny jurisdictions are angry or see nothing wrong with the tax industry the fact remains that (1) locals pay tax (2) non-local companies do not pay tax in Jersey and are no doubt paying nothing at home. The fact that the GFSC stated that some sort of preference may have been created for other creditors of Landsbanki will cut no ice - it is posturing and only words - it will have no effect on the Landsbanki Guernsey depositors - the fact remains that Guernsey had no depositor protection scheme. Jersey still has none.

We only have to look at the USA reaction over a Guantanamo Bay High Court case that intelligence will be withdrawn if certain evidence is revealed. So in our case, whether or not Jersey and Guernsey think their tax havens are proper and well regulated what our politicians and industry leaders seem to miss is that the USA government and the UK government do not care - what they want is, quite fairly, the correct tax take from their citizens - and they will do what they need to get it - no matter what our local ministers say.

Why Use Overseas or UK Architects and Builders?

Whilst the States are taxing us our of existence as we head towards a depression perhaps our States members can explain this - why are UK architects being used for the Waterfront and why on "prestigious" projects UK architects being used.

Are Jersey based employees not good enough. Will the Planning minister provide a list of all projects where UK architects are used. Can they explain why it is better that organisations that do not pay tax here are benefiting and where the actual drawing is taking place. Why are they not Jersey firms being used who pay Jersey taxation.

Why is even entertained that, should the Waterfront proceed, that foreign workers are imported and housed. Should we not look locally first and moreover employ local contractors who have contributed to the economy for years.

Surely a bit of protection is due to Jersey employees and workers.

Broken Promises

So there is to be no abatement in the tax increase foisted upon us by our politicians despite what they say at hustings so that they can earn their expenses and £45,000 per annum.

There is no help for the middle earner in Jersey, we are just expected to like it or lump it. Thanks a lot to our local politicians for looking after the local. It will be remembered come the next election.

Snow ! You Can't Expect them to Get it Right

You can't expect civil servants to liaise with TTS or with the Bus Company to get something right that a little commn sense could perhaps have seen.

It snowed yesterday. Some melted on the roads. The skies were clear overnight and it froze. It being Jersey you can guarantee (1) that the roads will not be salted or gritted properly and (2) that most Jersey drivers will not be up to the task where the roads are not treated properly by the authorities. Ergo, chaos.

Of course the buses didn't run initially. But there was little liaison there.

With hindsight or indeed foresight it would have been better to close the schools today rather than create utter confusion. Anyone in the private sector would be in for a severe reprimand or the sack! No one can even say sorry.

One wonders what the Government expects when it says that companies are doing nothing illegal when employing foreign workers. What did they expect workers to react like when they have finally found out that being in Europe means nothing can be done.

So whilst people are expected to pay Council tax and and taxes they are then told they must stand by and watch others do work that perhaps they could do. Apparently the business secretary has referred to fuel workers action as "xenophobic".

I wouldn't call the workers xenophobic - they are just wanting local jobs to feed, house and clothe their own families. It comes to something when

What Will Happen at the Waterfront?

What will happen to the Waterfront Development?

Will it follow the same path as Sullivan Square, a large vacant lot, and the legal wrangling with GSG is still going on?