The one hope in the USA that means the recession will not end up being too bad is the falling Dollar. The banking system is under stretch absorbing sub-prime losses. Over two million homes have been repossessed so far in under one year. Share prices and house prices are down, house prices by the most since the 1930s. Consumer demand also is down. But as yet employment hasn't collapsed....
Posted on The Tap Blog
Saturday, 9 February 2008
Pity Those Inside The Eurozone
