Friday, Dec 04, 2009

Oh dear!

Guardian: Green Shoots and Leaves winter pudding!

"The value of loans in breach of financial agreements doubled to £30bn in the first half of this year". Mmm, that's a lot of money. IN fact about half as much as Dubai world owes!

Posted by brickormortis @ 11:29 AM (3507 views)
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3 Comments

1. mark wadsworth said...

This was in all the papers. The numbers are quite staggering. While household/consumer debt (mainly mortgages) has doubled from £700 billion to £1,400 billion over the past decade, the amount of loans secured on commercial property has gonoe up from £50 billion to £250 billion. If ten per cent are in default on assets that have fallen 20% in value from peak ....

Friday, December 4, 2009 11:35AM Report Comment
 

2. cynicalsoothsayer said...

BIG shake-out on its way.

Friday, December 4, 2009 07:06PM Report Comment
 

3. greenshootsandleaves said...

Ah yes, my trademark recipe. Be warned, though: the ingredients can be hard to find.

Saturday, December 5, 2009 11:17AM Report Comment
 

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