Monday, Aug 20, 2007
Surprising words of warning from the BBC
BBC: Market jitters and your pocket
Stock markets around the world have been in turmoil in recent days on fears that the crisis in the US housing market could undermine the global economy.
There is more mention of the "troubled" mortgage market and irresponsible borrowing / lending further down the article.
Posted by george monsoon @ 08:34 AM (203 views) Add Comment
1 Comment
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1. Notaneconomicsguru said...
There is a much, much more revealing insight on BBC New website under Robert Prestons blog. He spells out the facts pretty well under 'Liar's Loans'. Even I, with only an O level in economics, could understand most of it and it makes it absolutely clear what the cause is. See http://www.bbc.co.uk/blogs/thereporters/robertpeston/. Pretty good blog don't you think? That and a very good article in the Daily Bellylaugh linked to above by another poster. Its pretty clear there are a number of authorative voices telling it like it is even if the maintsteam hasn't allowed itself to be so explicit yet.