Credit Crisis Seen Lasting Until After Summer

[crash2006]

BRUSSELS (Reuters) - The global credit crisis stemming from the U.S. subprime mortgage woes may last until after summer holidays in Europe, longer than previously thought,

http://uk.reuters.com/article/businessNews...me=businessNews

[Not Long Now]

http://uk.reuters.com/article/businessNews...me=businessNews

I'm going to stick my neck out and say that the credit crunch will last for alot longer, as banks re-appraise risk and decide that in the short term such lending is no longer sustainable.

The credit crunch is just the start. By the summer we'll see the effects move from financial markets into the real economy, meaning job losses and inflated asset prices come tumbling down.

[RajD]

Until after summer holidays

LMAO

Maybe they should take off those rose-coloured specs and try 'until after next summer' - but even that might be a tad optimistic

Edited to add - there might just be a complete collapse of the fractional reserve banking system, in which case their estimate could be right

Edited March 9, 2008 by RajD

[gravity always wins]

until after summer holidays

Didn't say which summer holidays.

[Bubble&Squeak]

http://uk.reuters.com/article/businessNews...me=businessNews

Some of the bods on here involved with banking could rubbish this quite quickly... don't some of the models take years to develop... the current ones are all blown away - hence he current problems

[Austin Allegro]

Ah, the 'summer bounce'.

[blackbear]

Bergen had earlier predicted the credit crisis would end around March.

Nuff said

[Harry Monk]

longer than previously thought,

Have to disgree with them, I've always known how long it was going to last.

[grey shark]

"Everyone is anxiously awaiting the results for the first quarter, then they will seek confirmation in the second quarter and then it is summer already," said the chief of the Belgian banking and insurance group.

"I fear we will only be able to speak of an eventual recovery after the holidays at the earliest."

Bergen had earlier predicted the credit crisis would end around March.

The blokes a total guesser , hasn't got a clue , although he's worked out that summer starts at the end of the second quarter

[Harry Monk]

Nuff said

No, I'm sure it will end in March.

Just not this March.

[Converted Lurker]

I'm going to stick my neck out and say that the credit crunch will last for alot longer, as banks re-appraise risk and decide that in the short term such lending is no longer sustainable.

The credit crunch is just the start. By the summer we'll see the effects move from financial markets into the real economy, meaning job losses and inflated asset prices come tumbling down.

I reckon it (the article) is code for the credit markets will not unfreeze until after summer, a full twelve months, we're not even approaching shitstormsville yet

[Leonard Hatred]

The boom lasted for 10 years. Why should the bust last for anything less?

[Extradry Martini]

http://uk.reuters.com/article/businessNews...me=businessNews

We won't see similar credit conditions to early 2007 for a generation at least.

[laurejon]

I predict the Credit Crunch will end next Summer as most people will repay their mortgages having saved over the winter months.

By November 2008, 99.97% of all property will be mortgage free a clear indication that an economic miracle has yet again taken place before our very eyes.

[Not Long Now]

I predict the Credit Crunch will end next Summer as most people will repay their mortgages having saved over the winter months.

By November 2008, 99.97% of all property will be mortgage free a clear indication that an economic miracle has yet again taken place before our very eyes.

.....shortly afterwards I will publicy announce my engagement to Katherine Jenkins. We plan to have a flying pig quartet at the wedding.

[beans on toast]

The crunch is just starting to roll. There's going to be total devastation over the next couple of years.

[laurejon]

There is going to be an emergency rescue package initiated by the Government for people who cannot afford to pay their mortgages and personal debt.

In a statement made to the press today, Gordon Brown commits "500bn of new money (not money reported many times before) to build bankruptcy courts and poor houses across the land.

Under the slogan "Back to Basics, God Bless the Victorians, Disabled people will be invited to live on the street or have their benefits cut, Bankrupts will be publicly flogged, and starving children will be shipped to work in the new empire Iraq.

[jonjo]

There is going to be an emergency rescue package initiated by the Government for people who cannot afford to pay their mortgages and personal debt.

In a statement made to the press today, Gordon Brown commits "500bn of new money (not money reported many times before) to build bankruptcy courts and poor houses across the land.

Under the slogan "Back to Basics, God Bless the Victorians, Disabled people will be invited to live on the street or have their benefits cut, Bankrupts will be publicly flogged, and starving children will be shipped to work in the new empire Iraq.

The starving children will be accompanied by the hoodies and chavs. After they get to Iraq and freedom from the class system of the UK they will build a truly democratic, independant, country with opportunity for all. After a 100 or so years everyone left in Britain will be dying to live there but the majority won't meet the entry requirements. Always happens.

[blackbear]

The blokes a total guesser , hasn't got a clue , although he's worked out that summer starts at the end of the second quarter

As an asset management firm's CEO, the guy may be so much in it to be either in manic denial or trying to keep people calm for few more weeks. AAA securities anyone?

Edited March 10, 2008 by blackbear