<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d14058325\x26blogName\x3dChiswickite++-+formerly+The+Croydonian\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLUE\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://croydonian.blogspot.com/search\x26blogLocale\x3den_GB\x26v\x3d2\x26homepageUrl\x3dhttp://croydonian.blogspot.com/\x26vt\x3d2605630255414466250', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

Bad, very bad, news for the Lord Protector. And the rest of us

Just spotted in Business Week, via Der Spiegel:

"Could any country be more exposed to the current credit crunch than the U.S.? You bet, and that place is Britain...."Britain is likely to suffer more severely than the U.S." if the current market turmoil continues, says Danny Gabay, director of Fathom Financial Consulting in London....As in the U.S., consumers are another key driver of the economy-and today they're among the most indebted in the world. British consumers owe $2.7 trillion on credit cards, mortgages, and other consumer loans-or more than the country's entire economic output. Household debt as a percentage of gross disposable income is 166%, compared with 127% in the U.S. So it's hardly surprising that in the past year, British banks have had to write off $18 billion in bad debts, mostly consumer borrowing.Such write-offs could be just the beginning if housing prices start to fall".


What am I bid for the Dismal One bottling calling an election and then waking up to discover, "For they have sown the wind, and they shall reap the whirlwind: it hath no stalk: the bud shall yield no meal: if so be it yield, the strangers shall swallow it up". Source.

Labels:

« Home | Next »
| Next »
| Next »
| Next »
| Next »
| Next »
| Next »
| Next »
| Next »
| Next »

Blogger Sir James Robison said... 8:32 am

Mr. C, you've stolen my ground. Doom and gloom is my concession.  



Blogger Croydonian said... 8:35 am

James - There's more than enough ground to go round....  



Anonymous Tom Paine said... 10:29 am

Good, you two can't monopolise it! There are lots of us well-informed optimists (aka pessimists) around.  



Blogger Ed said... 11:54 am

I have to be an optimist, I'm up to my eyes!  



Blogger Ed said... 11:55 am

Whoops make that nearly up to the top of the snorkel tube.  



Blogger Guthrum said... 1:04 pm

Woe Woe and thrice Woe- who said that ?  



» Post a Comment