Sunday, February 21, 2010
Economic indicators in the UK and the rest of Europe
UK Business lending Falls At Record Pace; UK Mortgage Lending Drops 32% to 10 Year Low; Bundesbank Fears Second Wave of Credit Crisis; Party's Over
Mike Shedlock makes some observations about lending to UK businesses, UK mortgage lending, UK government borrowing in January and European credit markets. The final sentence reads "The European recovery is on its last legs. The global recovery will soon follow. Prepare for an economic relapse. One is highly likely."