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Old 09-13-2007, 12:31 PM
DW Simpson DW Simpson is offline
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Default "Britain's Coming Credit Crisis"

http://www.businessweek.com/globalbi...aign_id=rss_eu

Quote:
Could any country be more exposed to the current credit crunch than the U.S.? You bet, and that place is Britain. Unlike most of its European neighbors, Britain shares many of America's financial traits—and problems. Access to cheap credit has fueled a decade of unprecedented growth, with home prices tripling over the past decade, a faster rise than in the U.S. Consumer spending has skyrocketed, now making up roughly two-thirds of the country's total outlays. And the overall economy in Britain is more dependent on financial services than it is in the States.

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