Monday, April 2, 2007

Credit Crunch Starting in the US

Subprime Mortgage Bond Sales Plunge as Loan Delinquencies Soar

Evidence that the credit crunch is well underway in the US. If you have read Kindleberger's ""Manias, Panics and Crashes: A History of Financial Crises", you will know that this is how booms end and busts begin - demand dries up because banks can't get the money to lend. How long before similar UK stories? My guess is within 3 weeks.

Posted by royston @ 01:43 PM (401 views)
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One thought on “Credit Crunch Starting in the US

  • And there are still t*ats out there in the UK that think 1+1=3

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