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bdon

Credit Crunch Is Here

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there's no doubt now that it's happening repossession up ccj up approvals down number of credit cards flashed in the bars up

it did start in q1 07 - hindsight is great of course but now we see it everywhere

my only concern is how hard and deep will it go - if the central bankers want everyone to suffer then we will have asset confiscation and conscription

there is no way to predict their agenda

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Defaults on debt actually increase throughout bull markets, accelerate and top in a bear. When banks tighten and borrowers in general focus on repaying/take of less debt - thats the credit crunch. Such as US subprime.

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