Monday, Apr 02, 2007

Credit Crunch Starting in the US

Bloomberg: Subprime Mortgage Bond Sales Plunge as Loan Delinquencies Soar

Evidence that the credit crunch is well underway in the US. If you have read Kindleberger's ""Manias, Panics and Crashes: A History of Financial Crises", you will know that this is how booms end and busts begin - demand dries up because banks can't get the money to lend. How long before similar UK stories? My guess is within 3 weeks.

Posted by royston @ 01:43 PM (127 views) Add Comment

1 Comment

1. sovietuk said...

And there are still t*ats out there in the UK that think 1+1=3

Monday, April 2, 2007 03:39PM Report Comment
 

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