Tuesday, November 4, 2008

We’re still a long way from the bottom

We're still a long way from the bottom

With house prices falling, US consumers are turning to their credit cards to make ends meet. But as bad debts soar and banks tighten up on loans, they are running out of options. And that’s bad news for the rest of the world - we could see the first global recession since the second World War.

Posted by damien @ 01:16 PM (474 views)
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One thought on “We’re still a long way from the bottom

  • A woman goes to a butchers and asks for a lb of cumberland sausages.
    The butcher says ‘Sorry, no cumberland, I’ve only got credit crunch sausages?’
    Woman says ‘what on earth are credit crunch sausages?’
    Butcher replies ‘they’re pork at one end and breadcrumbs at the other because in a credit crunch you can’t make both ends meat.

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