Saturday, November 15, 2008

The root of the Credit Crunch

The world is under siege from one of the worst Financial storm in history.

The root cause is believed to be years of uncontrolled spending on credit.

No one wants to mention hot Buzz words like "Leverage" and "Nothing Down" nowadays.

The Credit Crunch Crisis is

the result of buying things you do not need,

with money you do not have, to impress people you do not know.


Bobby said...

Hi MT! I totally agree with you. In America, the bubble popped. While economic conditions may improve in the next few years, it will be another credit bubble and it will also burst, but be much worse. I hate to say it, but this crisis is here to stay.

juliana rw said...

Thanks you so much for ur vote. Have a nice weekend.

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