I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Saturday 6 September 2008

Credit crunch 'to last into 2010'



The credit crunch is likely to last well into 2010, the head of the UK's largest mortgage provider has warned.

HBOS chief Andy Hornby told the BBC it would take 18 months before US house prices started to rise again. That was needed "to give the confidence back into the system for banks to start lending again," he said.

His comments suggested there was little that the UK Government could do to stimulate the markets, the BBC's business editor Robert Peston said.

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