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Is this the big one?
JICWyllie
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3
1-3-2008 12:24 PM
311 views
tags:
economy
,
i-policy
,
i-recession
,
i-risks
,
i-increase
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/9890a36f-dfc1-453e-9d57-a29f96330b4d/6402B106-D6CF-4AC1-87E9-C1E479F197A0/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2008/jan/03/creditcrunch.houseprices" href="http://www.guardian.co.uk/business/2008/jan/03/creditcrunch.houseprices" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jan/03/creditcrunch.houseprices">Ian Harwood, chief economist at Dresdner Kleinwort in the City, said: "Many investors are viewing the near-term economic outlook with apprehension - in our view, rightly so. No end is yet in sight for the US housing recession, and credit market conditions look set to worsen."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jan/03/creditcrunch.houseprices">Harwood says the US and Britain may now be about to pay the price for the action taken to avoid recession earlier this decade, when both the Federal Reserve and the Bank of England cut interest rates aggressively in the wake of the dotcom crash. By doing so, they simply replaced the bubble in the stock market at the end of the 1990s with a bubble in the housing market. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jan/03/creditcrunch.houseprices">L Randall Wray, economics professor</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2008/jan/03/creditcrunch.houseprices"> says the changes in the financial markets in recent decades have made a full-blown crisis more likely. Freed from the shackles imposed on them after the Wall Street Crash of 1929, banks and investment houses have steadily taken riskier bets, </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6402B106-D6CF-4AC1-87E9-C1E479F197A0/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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