Thursday, May 1, 2008

“People don’t have as much access to credit as they used to,” said Wal-Mart USA CEO Eduardo Castro-Wright

'There is no sign of a bottom'

WASHINGTON -- Conditions at the epicentre of the credit crunch are getting worse as Ben Bernanke and the U.S. Federal Reserve Board appear poised to slow their aggressive drive to cut interest rates. Home prices are falling faster in virtually every major U.S. city

Posted by malct @ 05:29 PM (478 views)
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5 thoughts on ““People don’t have as much access to credit as they used to,” said Wal-Mart USA CEO Eduardo Castro-Wright

  • Rental John says:

    “People don’t have as much access to credit as they used to,” said Wal-Mart USA CEO Eduardo Castro-Wright, speaking at a Lehman Bros. retail conference broadcast over the Internet. “Clearly that is having an impact on how consumers behave.” ****Is this guy a genius, or what****

    This is a Canadian publication….so guess their could be some gloating to be read between the lines…

    http://www.reportonbusiness.com//servlet/story/LAC.20080501.RREALESTATE01/TPStory/Business/
    US citizens moving over the boarder to get away from the economical and social meltdown?

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  • mark wadsworth says:

    “There is no sign of a bottom”?

    South African expat blogger The Remittance Man would beg to differ!!

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  • excellent mw just what I was thinking

    but after the posts I decided to stay close to topic

    23 views and counting

    wonder where lp is, he’s a man that knows all about curves

    quote “With her meandering curves and no-nonsense approach, Kirstie Allsop was voted one of the world’s sexiest women.”

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  • All the current FED and BOE talk is trying to tell everyone it’s all OK. The LIBOR tells another story… we’re still where we were 5 months ago, except this time nearly all the ammunition in the armoury has been used. Already the inflation added to the system will be explosive over the next 10 years IF we don’t get massive deflation. At this rate war is the only way to save the situation.

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  • “Fed’s campaign of interest rate cutting is expected to slow beginning today”.

    It can hardly continue much further, can it? Otherwise the USA will be down to Japan’s IR levels.

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