Tuesday, July 29, 2008

Vicious circle .. er … noose tightens

IMF: US housing slump at centre of financial crisis

The world economy is now trapped in a "vicious circle" as the financial crisis is worsened by slumping housing markets on both sides of the Atlantic, the International Monetary Fund has warned. It said the greatly-feared "negative feedback loop" it warned of in previous reports had now materialised. It also cautioned that it remains far too early to call a bottom to the housing slump in the United States, which lies at the centre of the recent crisis.

Posted by mark wadsworth @ 02:02 PM (621 views)
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