Financial slowdown 'to drag on'

**AlfredJPruffock** · 25 August 2008, 10:23

Originally posted by Turion View Post

If this carries on the contractor market is going into reverse. I'd be shtting myself if I had a big mortgage to pay.

http://www.telegraph.co.uk/money/mai.../cnecon125.xml

The economic downturn is as bad as the 1970s and could "drag on for some considerable time", one of Britain's most senior economists has said.

Charles Bean is the Bank of England's new deputy governor
Charles Bean, the Bank of England's new deputy governor, said that every time the financial markets began to look better "another grenade" exploded.

Ah - this old chesnut.

As I ventured last November - the really interesting stage commences in when banks lack the confidence to lend to other banks.

And I believe we are now nearing that stage of the scenario ?

Four in the morning - crapped out
Yawning - longing my life away
I never worry - Why Should I ?
Its all gonna fade away ...

**shoes** · 25 August 2008, 10:36

You remind me of Felix Dennis, Alf.

**KentPhilip** · 25 August 2008, 11:22

Originally posted by shoes View Post

You remind me of Felix Dennis, Alf.

wot cos of the poetry?

**shoes** · 25 August 2008, 12:18

Originally posted by KentPhilip View Post

wot cos of the poetry?

And the language and older man wisdom.

**Cyberman** · 25 August 2008, 13:56

Originally posted by AlfredJPruffock View Post

Ah - this old chesnut.

As I ventured last November - the really interesting stage commences in when banks lack the confidence to lend to other banks.

And I believe we are now nearing that stage of the scenario ?

Four in the morning - crapped out
Yawning - longing my life away
I never worry - Why Should I ?
Its all gonna fade away ...

I don't know where you have been for the past year but that is precisely the reason why we have had the credit crunch for a year or so, and why HMG rather belatedly lent to Northern Rock.

Financial slowdown 'to drag on'