Originally Posted by benish
I also think that people like your self, and others, continually telling us how bad this recession is are only making it worse. I have studied economics and consumer confidence goes a long way in casuing the problems we are having now.
You're quite right to be sceptical of the advice given by a bunch of anonymous grumpies on an internet forum but you it would pay you to take the information in the IMFs global stability report seriously....
The report indicated that the squeeze on credit, as banks cut back on the amount they lend in order to repair their balance sheets, could endure until beyond 2010, implying that families will still be feeling the effects of the credit crunch far longer than most currently expect.
It said: "The deleveraging process may continue past the end of the decade. Bank balance sheets are under pressure to expand, as certain types of near-bank entities contract, fold, or are bought, and credit is re-intermediated, and as firms draw down pre-negotiated credit lines."
http://www.telegraph.co.uk/finance/f...it-crisis.html