January 15, 2008

Debt crisis, what debt crisis?

There are growing concerns in the States regarding the possibility of a recession happening or it is possible that there may already be the beginnings of a recession already upon us.

This follows what the top Wall Street firms Merrill Lynch, Morgan Stanley and Goldman Sachs have been saying, but if we are to take notice of these financial institutions then if it is not already happening, then we will for sure be looking at one in near future.

The problem with this is, yes this is America but anything that happens there will affect the UK and the rest of the world, as we saw with the sub prime mortgage problems in the last quarter of 2007.

Source [Huffington Post]