Saturday, Oct 17, 2009


Telegraph: German 'Wise Men' fear credit crunch in 2010

The German government economic advisors fear a credit crunch in 2010, due to increasing bad debts and roll-overs. Spanish banks are mentioned for false accounting, the Germans it would appear don't think that a million new builds will hold their value at the same time as 20%+ unemployment (blue nun+sausage=deep thought). Santander has been fingered fairly often over this. It is hard to see how in 2010 the UK government can brake rising unemployment, when all current figures are a temporary mirage, and our saviour the eurozone is going to tank.

Posted by stillthinking @ 04:06 PM (117 views)
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