http://www.telegraph.co.uk/money/mai.../cnjobs104.xml
More than 100,000 jobs will be slashed in the retail sector over the next two years as the economic slowdown beings to take its toll, writes James Hall.
Then you have Egg sending letters to 161,000 of its card holders informing them that they have 35 days until their card is revoked and how would they like to pay? Halifax is slashing their credit limits on loads of cards - a friend of mine saw his limit slashed from £7,000 to £500 last week.
Its goodbye easy credit which is what is going to result in lots of shops closing and from there we start the downward spiral already evidenced in house prices.
Interest rates won't make much difference if you can't get the credit in the first place. Or the Mrs loses her job in the shoe shop whilst you have a 98% LTV mortgage (on interest only) that's about to jump 30% as you leave your previously fixed rate..
Holidays and short breaks you can live without - Tescos and a roof over your head you can't.
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