Friday, January 25, 2008
The sub-prime discosures are far from over
"While governments, central banks and regulators scramble to address the aftermath of the sub-prime fallout, several other crises are mounting." Tumbling property prices - especially in the UK and Spain - a weakening dollar, a possible collapse in commodity prices, and a fall in Chinese and Indian stocks will "disrupt" the global economy, the report claimed. Add to this the earleir blog on massive mortgage lending contractions ... Land Registry figures for the next few months ought to be good reading.