Monday, April 2, 2007
Credit Crunch Starting in the US
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.