Friday, January 9, 2009
Was wondering when Europe would catch up?
Europe's economy contracts at rates not seen since 1930s
German exports and industrial orders have both plunged at the steepest rate since modern records began and Spain's unemployment has surged above three million, capping one of the most disastrous days for Europe's economy since the Second World War.
Posted by flintster1994 @ 03:29 PM (590 views)
One thought on “Was wondering when Europe would catch up?”
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Stevo says:
I think what caused all this mess was cheap money to buy expensive things, like property? for as long as I can remember the reserve banks ect have allways put up interest rates when there is high inflation, but property prices are excluded in the calculation why?There should be 3 interest rates 1 for mortgages, then a buisness rate,then a consumer credit rate, world wide, then housing markets and runaway credit spending can be controlled without hurtng buisness and the economy