Tuesday, Jul 29, 2008
Vicious circle .. er ... noose tightens
Daily Telegraph: IMF: US housing slump at centre of financial crisis
The world economy is now trapped in a "vicious circle" as the financial crisis is worsened by slumping housing markets on both sides of the Atlantic, the International Monetary Fund has warned. It said the greatly-feared "negative feedback loop" it warned of in previous reports had now materialised. It also cautioned that it remains far too early to call a bottom to the housing slump in the United States, which lies at the centre of the recent crisis.
Posted by mark wadsworth @ 02:02 PM (113 views) Add Comment
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