Is the Credit Crunch still on?

[purplex]

Now that sub-prime mortgages have been written down, the next issue is alt-a mortgages with possible write downs reaching $600 billion according to goldman sachs.
This is not over yet.

 

[extra dry]

what is a alt-a mortgage???

 

[purplex]

what is a alt-a mortgage???

Prime - employed people, regular income with clean credit history and a history of repaying loans without defaults

Alt-A (or mid-prime) - loans issued to people with good credit history but irregular incomes, i.e. The self employed

Sub prime - people with poor or no credit history

 

[extra dry]

so it is like a domino effect, more people lose there jobs, default on repayments and lose their homes...future looks very grim indeed, but the economy will bounce back in a few years, not much comfort for those who are fucked thou

 

[Batboy]

After the hysteria of Christmas time it seems from afar that its all gone quiet...

...is the UK still collapsing?

house prices still falling?
chains still going out business?
unemployment still rising?

people still talking about it all the time?

Not getting much from the BBC...

Umm where you been..
You should watch the news instead of Tellytubbies...on the other hand

 

[Batboy]

We're out of the 'credit crunch' (gah! fingernails-on-chalkboard fucking phrase) and into the honest to God recession now, innit?

On our way to a depression...and after that a pressedonion, I think.

 

[extra dry]

just given me an idea to write something along the lines of credit crunch in teletubby land..

 

[claphamboy]

We're out of the 'credit crunch' (gah! fingernails-on-chalkboard fucking phrase) and into the honest to God recession now, innit?

Yep the credit crunch is over, we are now officially in recession and it’s getting worst.

 

[A Dashing Blade]

Considering that comes from the Telegraph, and given their and the author's anti-Europe agenda, as well as the hint of hear-ye-end-of-days-triumphalism at the grand folly of those continentals, I would be inclined take that article with a pinch of salt.

It could still be a good analysis and prediction but it's difficult to get away from the suspicion that a good deal of perverse wishful thinking has motivated the author.

Recent increase in Baltic CDS spreads would suggest the markets disagree

 

[durruti02]

http://www.telegraph.co.uk/finance/...t-Europe-will-lead-to-worldwide-meltdown.html

http://www.telegraph.co.uk/finance/...scued-from-tragi-comedy-for-Europes-sake.html

and the warning a year ago http://www.telegraph.co.uk/finance/...stern-Europe-in-danger-of-a-hard-landing.html

 

[nightbreed]

Stephen King Chief Economist of HBOS seems to have his finger on the pulse here. He seems to have mentioned that Marx guy.