Thursday, Sep 13, 2007
Are we all endebted to the credit crunch ?
The Independent: The squeeze has begun - but how long will it last?
Higher mortgage rates; slower retail sales; the Bank of England refusing to help banks under pressure; and a government about to squeeze the growth of public spending. Is Britain's long boom coming to an end?
Posted by onyerhike @ 09:22 AM (169 views) Add Comment
1 Comment
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1. Orwell said...
"...For the past five or six years we as individuals, and the country as a whole, have been living above our means. People have been borrowing, often against their homes, to finance their consumption, while the Government has repeatedly missed its own targets to cut its debt...."
Good news for New Lie-bour's (Crash Gordon) Prime Minister Brown Unelect then.
The tories look likely to inheret this mess.