Saturday, January 26, 2008

During the last few weeks, things have taken a turn for the worse

The credit crunch is starting to bite

The crisis in the credit markets has finally begun to take a true grip on consumers over the past month – as the cost of borrowing has risen, credit has got harder to come by, and – this week – stock markets have started to plummet as well. While many commentators have been doom-mongering ever since Northern Rock first ran into trouble in September 2007, the reality was not so bad for most consumers at first.

Posted by jack c @ 08:29 PM (783 views)
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2 thoughts on “During the last few weeks, things have taken a turn for the worse

  • planning4acrash says:

    This is ridiculous analysis. Anybody with any sense knows that credit issues and related markets take time to cascade cause and effect. Its like, oops, is there really a consequence of credit reduction? Umm, I thought it was all just a bad dream!!! Duh!!

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  • Cheekie Charlie says:

    We haven’t settled in the starting blocks yet! The UK economy is still benefitting from the excess liquidity which will take time to drain from the system then the term “the Emporer has no clothes” will gain its true relevance. Only then will people relearn the true value of money.

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